Workers are using the pandemic to switch jobs and careers as 55% of Americans say they are likely to look for a new job within the next 12 months
According to a July Bankrate job seeker survey of 2,452 adults, there are multiple reasons Americans plan on looking for a new gig. Those include flexible working conditions, higher pay and job security. Even low-income workers are planning on moving as well.
Some 52% of respondents making less than $30,000 per year say flexibility is the top reason they’re looking for a new job, even more than higher pay. Mark Hamrick, a senior economic analyst at Bankrate told CNBC the COVID-19 pandemic has given workers a better ability to make demands and in turn, employers have to work harder to attract and retain workers.
“If there ever were a time for someone to be in a position to make a reasonable request of their employers, this would be the time,” Hamrick said.
The current U.S. unemployment rate is 5.4% percent, which is higher than pre-pandemic levels and Americans claiming unemployment insurance has fallen to 2.82 million for the week ending August 14, which is also higher than pre-pandemic levels.
More Americans are also becoming more interested in working from home, especially as COVID-19 cases and deaths rise again. A Glassdoor analysis states the share of online job searches for remote position has risen almost 500% between June 2019 and June 2021. Black Americans are also enjoying working from home.
The pandemic pushed millions of workers out of their offices and into their living rooms last spring and many have grown to enjoy the experience. Workers have saved money that’s typically spent on commutes, are more relaxed in their homes and can get other tasks while working.
Businesses have become more creative in attracting and retaining employees, offering signing bonuses, health and retirement benefits, college tuition and the ability to work from home several days a week.