This is a really good time to quit your job
According to job openings and labor turnover summary (JOLTS) job openings have grown from the month of June to July. In June the job opening rate was at 5.62 million, while in July the job opening rate grew to 5.9 million. The rate of openings is higher then the early 2000's. Although, due to so many more job openings employers are having a harder time filling open positions, meaning they will more then likely have to pay more for their next hired employee to keep them.
Not only are there more job openings being created, the hiring rate is steadily growing since the mass amount of lay offs of the great recession. Before the recession the rate was at 4.0 percent and it has now reached 3.6 percent and is still on the rise.
Studies have also shown that people that have switched their jobs have also received higher pay on average then people that have stayed at their current job. "job switchers" have seen a pay bump of 4.2 percent while "job stayers" have only seen their pay checks rise only by 3.0 percent. Not every person that switches their job sees a pay raise that is just on average.
like said above, I think that due to job openings and a lot of people switching their jobs, employers are going to have to increase wages to secure their employees positions. I think this is better for the employees because they now have a higher income.
http://www.cnbc.com/2016/09/07/this-is-a-really-good-time-to-quit-your-job.html
It's great that they are creating new jobs, and I can see how this could increase workers wages; however, I'm wondering how many of these new jobs are skilled vs unskilled. I think that is an important factor to address before workers start searching for new jobs.
ReplyDeleteIt is good to see how this is a positive sign for the employees as they can take risks in their jobs which in turn can decrease the underemployment rate and people can get paid based on their skills.
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