Most Americans have been quitting their jobs at a record-high pace in the past several months.
The reason? Because they are overworked and underpaid.
The pandemic only magnified several of workers’ problems, with more Americans now searching for work flexibility, with 56 percent indicating that they’d prefer remote work or adjustable working hours.
Read more: Over 4.4 Million Americans Have Quit Their Jobs Since Unemployment Benefits Ended
That slightly outnumbers those who say they’d want higher pay (53 percent).
Job security was listed as Americans’ third most important concern, with 47 percent of respondents indicating that would be a top priority. More than a third (or 35 percent) preferred time off, while a quarter (or 24 percent) listed a more inclusive work culture as their top priority.
Even among the lowest-paid Americans (those making under $30,000), individuals were more likely to list flexible work arrangements as their top concern, at 52 percent, the highest of any other category.
Read more: Americans Quitting Their Jobs at Record Pace for the Second Straight Month
Most Americans (55 percent) who are either employed or looking for a job — what economists would describe as being in the workforce — say they are likely to look for new employment in the next 12 months, according to Bankrate’s August 2021 Job Seeker Survey.
Some 28 percent of working Americans who currently say they’re not looking for a new job are still expecting to search for a different position at some point in the next year.
“After spending the last year or more stuck in their homes, a good number of American workers now expect to be on the move, searching for new employment,” says Mark Hamrick, Bankrate senior economic analyst and Washington bureau chief.
“Pandemic-inspired changes, including the ability to work remotely and/or from home, have transformed mindsets and expectations for many workers.”
Read more: Here Are The Reasons Why Americans Are Quitting Their Jobs In High Numbers
Diane Swonk, the chief economist at Grant Thornton, admits that she cannot understand the market conditions. “If you had ever told me we’d have millions of workers still on the sidelines and have wages going up because people couldn’t find workers, you could knock me over with a feather.”
Employees want more than money, but businesses don’t understand that yet.
According to Mark Hamrick, Bankrate senior economic analyst, “Pandemic-inspired changes, including the ability to work remotely or from home, have transformed mindsets and expectations for many workers.”
Read more: The Great Resignation: Why Are Millions of Americans Quitting their Jobs?
Complaints of labor shortages have been heating up for months, with the roughly 10.1 million job openings now outnumbering the 8.7 million unemployed individuals, according to the latest data from the Department of Labor.
Lawmakers point to child care restraints and virus-related fears as keeping workers on the sidelines, while others say enhanced pandemic-era unemployment benefits are deterring others from seeking a job.
Stay updated for more news here at the East County Gazette.
