The Big Quit continues on in 2023 as people leave their jobs in record numbers. In the latest report from the U.S. Bureau of Labor Statistics (BLS), 4.2 million employees left their jobs in November 2022, marking the 18th consecutive month of record-high resignations.
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Among the quitting population are a large number of young people, leading analysts to wonder what their high rates of turnover could do to the overall economy.
According to CNBC, citing a survey from LinkedIn and CensusWide, 72% of Gen Z workers and 66% of millennial employees noted they are looking to switch jobs in 2023. The survey polled 2,000 American workers and found similar, though smaller, percentages of would-be job-switchers among Gen X-ers (55%) and baby boomers (30%).
The results track with a trend known as “job hopping” that Gen Z and millennials workers have largely backed. According to Forbes, workers between the ages of 25 to 34 tend to stay in their role for 2.8 years on average, compared to 9.8 years on average for those aged 55 to 64.
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