In January 2024, a significant shift in working culture in the US was observed due to the COVID-19 pandemic. The Great Resignation saw millions of workers leave their jobs, with Alaska leading the way at 3.6% in terms of job quitting rates.
The decline in job quitting rates can be attributed to a number of factors, including pay, working conditions, and the cost of living. However, the rate at which workers are quitting has slowed down and is now known as The Big Stay. Despite this overall decline, industries like retail trade and leisure and hospitality continue to experience high turnover rates.
According to Nick Bunker, economic research director for North America at the Indeed Hiring Lab, employers are still hiring at a healthy rate but demand for new hires is cooling down. This can be seen through weaker monthly job openings compared to 2022. In January, there were 8.9 million job openings which was higher than pre-pandemic levels but lower than the peak in March 2022.
Despite this overall decline in job quitting rates, Alaska had the highest quit rate in the country in January. The top 10 states with the highest resignation rates were identified according to January’s data from the US Bureau of Labor Statistics.
In conclusion, while The Great Resignation brought about significant changes in working culture and prompted many workers to quit their jobs due to various factors such as pay and working conditions
