Great Resignation in Full Swing , As 4.3 Million Americans Quit Their Jobs in January.
CNBC reports the Great Resignation in the United States shows no signs of slowing.
Per the U.S. Department of Labor, almost 4.3 million Americans quit their jobs in January.
Compared to pre-pandemic employment levels, resignations are up 23%.
Data indicates Americans aren't exiting the labor market entirely but are quitting their jobs for better opportunities elsewhere.
According to the U.S. Labor Department, 11.3 million new jobs became available in January.
According to the U.S. Labor Department, 11.3 million new jobs became available in January.
So far, 2022 looks a lot like 2021.
, Nick Bunker, economic research director at Indeed Hiring Lab, via CNBC.
Demand for labor is historically high and workers are quitting their jobs at historic rates to take advantage of that demand.
, Nick Bunker, economic research director at Indeed Hiring Lab, via CNBC.
Sectors such as hospitality, retail and manufacturing have experienced the highest rate of resignations.
Sectors such as hospitality, retail and manufacturing have experienced the highest rate of resignations.
Sectors such as hospitality, retail and manufacturing have experienced the highest rate of resignations.
Per federal data, private-sector employers have raised hourly pay by a paltry 5%, while inflation could rise to 8.5% by the end of this quarter.
Per federal data, private-sector employers have raised hourly pay by a paltry 5%, while inflation could rise to 8.5% by the end of this quarter.
Experts say employees who switch jobs are more likely to experience wage growth.
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Those who stay loyal to a company can expect stagnant wages.
The labor market continues to be quite hot and gives advantages to job seekers they didn’t have before.
, Nick Bunker, economic research director at Indeed Hiring Lab, via CNBC
