To say that coronavirus and subsequent lockdowns shook up the job market would be a significant understatement. In 2020, many Americans lost their jobs when companies shut their doors, some voluntarily and others due to government orders.
Even in 2021, the ripple effects of lockdowns and government edicts are very much present. A good amount of small businesses are shut down for good. Others are struggling to maintain themselves, while labor shortages run rampant; all of this comes amid inflation, as the cost of living goes up.
It turns out that the past year has impacted workers in some unanticipated ways. Rather than rushing into their previous (or new) job opportunities, many workers are up and quitting their jobs altogether.
A closer look at Americans quitting their jobs
People who are quitting their jobs in the United States are looking for some key things; they want employment opportunities that are more conducive to their individual lives, skill sets, and personal interests. However, as the rate of turnover increases, many employers are hoping to attract workers with slight wage increases and possible other benefits.
Many Americans are also seriously considering ways to make more money. Some are living with a wife or husband who lost income as a result of shutdowns; others are looking to rebuild savings. Then, there are certain Americans embracing alternatives such as remote work. Finally, not everyone feels comfortable with going back to work in an office again.
The labor shortage factor
The irony of labor shortages currently present in America is the wide array of job opportunities. Since the demand for workers is high, while supply is low, this gives people the chance to be a bit more picky as to where they’d like to work.
During shutdowns, many Americans had to seek alternative means of work as their companies closed the doors. This led to more people taking up gig work, freelancing, and more. Not everyone is ready to give up the freedoms associated with this type of employment.
As more people weigh their options, employers will have the task of doing their part to attract workers.