GREAT RESIGNATION

Jan. 18, 2022

In 2020, resignation rates across the US plummeted due to the fear and uncertainty caused by the pandemic.

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However, one year later, as the workforce experienced a collective burnout, individuals left their jobs at unprecedented rates, leading some to describe the phenomenon as the Great Resignation.
In November 2021, 4.5 million workers left their jobs according to the US Labor Department. This matched record numbers observed in September and accounted for 3 per cent of the workforce quitting their jobs each month.
Estimates indicate that in total, 75.5 million people in America resigned in 2021.
Low-wage workers were more likely to resign than their higher-paid counterparts with the sectors most affected including hospitality, healthcare and social assistance, and transportation, warehousing, and utilities.
The Great Resignation has largely been fuelled by burnout, but other factors also include the shift to working from home and the desire to move into a more stable profession.
In light of these resignations, the labour market has incentivised companies to offer better benefits and higher salaries.