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1000s of Employees are Leaving Jobs Each Day
Employees leaving jobs like never before
The refrain has been picked up by millions of U.S. workers who are, amid ongoing pandemic conditions, leaving jobs at a pace never before seen. But what’s on the minds of the people, in Utah and across the country, driving this resignation phenomenon?
The U.S. Bureau of Labor and Statistics reports 4 million people quit their jobs in April, the largest number ever recorded by the agency and a figure that represents 2.7% of the labor force. May data, reported last month, shows the quit rate, which does not count those who leave their jobs due to layoffs or retirement, slipped to 2.5% or about 3.6 million workers, but is still hovering in record territory.
Economists haven’t been able to identify any single, overarching factor that’s driving the exodus but instead point to a perfect storm of circumstances, including a red-hot U.S. job market that’s simply making it an opportune time to wave goodbye to yesterday’s toil. While the wave of quitting may be seen by some as a sign of overall worker optimism, at least a portion of those seeking more verdant pastures, like U.S. health care workers, have simply been burnt out by their time on the front lines in the ongoing battle against COVID-19.
A report released this spring by Utah-based human resources management innovator BambooHR of 1,000 U.S. remote employees found high levels of burnout and dissatisfaction among those who have been working from home amid COVID-19 restrictions.
A Joblist/USA Today survey conducted late last month found 35% of U.S. workers reported they changed jobs in the last year. Most have segued to new positions but some bailed out to start their own businesses, take extended personal time or just explore other pathways. And, the near term appears to be one of ongoing opportunities for those who choose to hit the eject button on their current gigs. The Bureau of Labor Statistics reports record rates of job listings amid a resurgent U.S. economy, including 9.2 million openings in May alongside wage growth across most sectors.