The Great Resignation Is Still in Full Swing
But that wage growth has been higher for job-switchers than those who keep the same job — they've gotten raises of 5.8% versus 4.7%, respectively,While resignations tapered somewhat in January, factors like the continued high level of job openings may keep them elevated for a while, Bunker said.
"The labor market continues to be quite hot and gives advantages to job seekers they didn't have before," he said.The labor force grew by 304,000 people in February, according to the Labor Department jobs report issued Friday. "High quits are decidedly not translating into workers leaving the labor force in large numbers," Elise Gould, an economist at the Economic Policy Institute, a left-leaning think tank, said in aThe rate of hiring is higher than the resignations rate in every major industry — indicating workers are moving to other jobs, likely in the same industry, Gould added.
If job openings fall this year from current near-record levels, it would likely translate into a slowdown in resignations, too, according to economists. "If demand for workers starts to moderate in 2022, expect the Great Resignation to begin to wane as well," Zhao
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