Some data suggest workers are hunkering down and less likely to quit their jobs these days
The Great Resignation is coming to a close, as far as one prominent economist is concerned — and “the Big Stay,” as she dubs it, could be here to, well, stay.
Nela Richardson, chief economist at ADP ADP , the payroll-service company, says that workers are increasingly sticking with their jobs in the current economic environment. And she cites a number of factors behind this transition from last year, when more than 50 million employees quit their positions .
In that sense, the movement wasn’t even about job-switching but a true, if temporary, resignation from the workforce. But now, without that government aid, many people need to get back to work to support themselves.Richardson’s view comes at a time when some workers might be feeling a little uneasy about their job situation — and therefore may be all the more inclined to stay put.
John Leer, who leads global economic research for Morning Consult, a decision-intelligence company, cites one telling government statistic: Wage growth for “job switchers” currently stands at 6.9%, based on a three-month moving average. That’s solidly ahead of wage growth for “job stayers,” which registers at 5.7%.
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