We have all watched signs in front of shops, factories, and restaurants: “We Are Hiring!” “Help Wanted!” and now, the new variant of Corona, Omicron is taking a toll on the already exhausted workforce. We have wondered how there can be so many open jobs when closely every employer looks to be offering better pay, benefits and also signing bonuses. The job report of the government released this past week tells us what has occurred: well over 20 million individuals quit their jobs in the 2nd half of 2021. Some are calling it the “big quiet”, others are claiming it the “great resignation.”
The 60 Minutes Jobs
But who can tell us or explain why this is happening? We discover the best place to look for real-time answers is the vast online job site LinkedIn, which calls itself the global’s largest professional network. Karin Kimbrough: Individuals have been living to work for a very long time and we think the ongoing pandemic brought that moment of reflection for everyone. “What do I want to do? What makes my heart sing?” and individuals are thinking, “If not now, then when?”
Why more Americans are quitting their jobs?
Karin Kimbrough is the chief economist of LinkedIn. She has degrees from Harvard and Stanford and a Ph.D. from Oxford, used to serve for the Federal Reserve, and now has a view of birds-eye of the labor market of United States. Karin Kimbrough stated that we have different and unique views of the data. We can watch millions of members and what they share with us, and we can watch from employers, millions of them that are uploading jobs on social media platforms. There is one individual hired every 15 seconds right now on LinkedIn.
But the data of LinkedIn on who is leaving jobs is most compelling: millions of baby boomers retiring early also millions of “Gen Z” workers-individuals in their teens and early 20s. Several more ladies than men. In all, the highest “quiet rate” since the government began keeping track 20 years ago. At the level nationwide, the number of Americans quitting or leaving their jobs is higher than ever.