Work takes a leave of absence

The American economy is experiencing a strange transition: workers are quitting in droves while the economy is restarting and businesses need labor.

Work takes a leave of absence

 

The Future. The American economy is experiencing a strange transition: workers are quitting in droves while the economy is restarting and businesses need labor. While uncomfortable, the shortages may be a good thing, because they may allow workers to demand long-needed changes and force businesses to innovate.

Too little and too much
Do people still want to work?

  • survey from Monster.com found that 95% of U.S. workers are considering quitting their jobs… mostly due to burnout.
  • Meanwhile, the Labor Department reported that 4 million people quit their jobs in April — the highest number in 20 years.
    • 3.6 million people quit in May.
  • The Department also found that there are currently 9.21 million jobs available.

And this isn’t just an American phenomenon: Another survey from Microsoft found that 41% of people globally are thinking about quitting.

Growing pains
Burnout notwithstanding, there are a variety of positive economic and psychological reasons for why workers aren’t jumping to fill empty spots. As the economy rebounds and people have more time to consider life changes, workers are becoming more confident to make changes in their vocations and lifestyles.

  • Monster.com found 66% think they will be able to find other opportunities.
  • 92% said they would be willing to change industries entirely if the right position came along.

Granted, employers carry the brunt of the burden, since they have not been able to hire at the same rate as demand for goods and services has gone up.