People voluntarily leaving jobs at highest rate since 2009 downturn

http://www.jsonline.com/business/people-voluntarily-leaving-jobs-at-highest-rate-since-2009-downturn-b99303175z1-265866551.html

by e15ctr0n • 12 years ago

66 23 12 years ago

jsonline.com

gress3• 12 years ago

The article assumes this is because of a greater sense of security in the labor market, but they ignore the other possibility - nastier jobs that promise less for the future.

ChuckFrank• 12 years ago

Having seen an upsurge in friends quitting, I can tell you that this is the reason for the quitting. Jobs are paying less, asking for more work, in conditions that are worse.

This is especially difficult when you have a prior standard of work and pay to judge from. Most people are willing to cut their pay 20-30% from their top, but a 40-50% cut with worse conditions, and higher expectations, people will quit.

That's what I'm seeing.

pohl• 12 years ago

...or the liberating effect of knowing you'll have healthcare coverage wherever you go? (Chill with the downvotes, it's just a hypothesis.)

learc834• 12 years ago

That's a very good point. I didn't really support Obamacare when it passed, but if helps separates health insurance from employment it's probably a net positive.

monksy• 12 years ago

That is not necessarily true. Employers are moving to Employer contributed health insurance. Which means that there is a specialize payment option [given benefits of paying pre-tax] that subsidizes the health insurance option. So technically they do and don't offer the plan.

This opens up the PHX (Private Health Exchange, market). The future effects are a little unknown at the moment, but the PHX is making bank.

All the ACA (screw the name "Obamacare") just is a requirement that all citizens must have health insurance. It's no longer a situation where the "poverty" citizens and seniors are guaranteed health insurance anymore. So if you go jobless/self employeed, you'll have to get a plan on the private market.

Good thing: The private market (which forces the carriers to actually compete for once). Also, the carriers have a requirement to serve their customers rather than administrative items. (Which also helps the secondary carrier supporting market)

Bad: Employers are given more power to push their social/health agendas and will be going away from group based plans.

anigbrowl2• 12 years ago

Compared to what? You don't get unemployment if you quit voluntarily, unless you can show you were effectiely forced out (eg abusive workplace or somesuch).

gress3• 12 years ago

Burning through savings looking for another job, working part time, trying to start something of one's own, relying on family members, recognizing that one's mental health is at stake and no job is better than personal collapse...

There are lots of possibilities. Note that the uptick is relatively small. People don't have to be choosing rational or amazing alternatives. There just has to be a slightly larger percentage of people unable to handle the working conditions, and choosing any alternative.

heydenberk• 12 years ago

Is this adjusted to account for people who age out of the workforce? Presumably, as baby boomers reach retirement age, more people will exit the workforce than enter it, even in good times.

EDIT: Yes, this is among working-age people. But still, I'd assume early retirement would increase the numbers as baby boomers get older.

jbigelow76• 12 years ago

    >Presumably, as baby boomers reach retirement age, more people will exit the workforce than enter it, even in good times

That maybe offset by boomers working past traditional retirement age as pensions go broke, they live longer meaning nest eggs need to go further, and retirement accounts make up lost ground from the '08 recession.

robogrowth• 12 years ago

A .2% yoy change is a sign of growing confidence lol..

steveax• 12 years ago

It's a 10% shift in the rate (and nearly 50% higher than the low point), so yes, it is significant.

fsk• 12 years ago

By itself, quit rate is a meaningless statistic.

They should lump it into two groups.

1. People who quit and find a new job within 1-2 months.

2. People who quit and don't find a new job within 1-2 months.

Then, you can find out what % of people are quitting because they found a better job. It's even better if you can split (1) up into people who quit for a higher-paying job.

People voluntarily leaving jobs at highest rate since 2009 downturn

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