The so-called “Great Resignation” is leading to thousands of Americans relocating.
Large numbers of Americans, young and old, have left the workforce in the U.S. since the start of the COVID-19 pandemic. They’re leaving their jobs in record numbers, looking for a fresh start, and they are showing a desire not only for a career change, but a change of scenery too.
With job openings in the U.S. reaching near record highs in October, U.S. employees have never had more opportunity to move. The Labor Department reported last week that employers posted 11 million new job openings in October, the fifth straight month that openings topped 10 million. Many employers have struggled to fill those vacancies.
Surveys reveal employees are leaving for a variety of reasons. Some of the top excuses include a desire to work from home permanently, discontent with how their employers have treated them since the pandemic began, a desire for greater work-life balance, and choosing a new career path. At the same time, one-third of workers who quit their jobs did so to launch their own business, a Digital.com survey revealed.
Another survey by Coldwell Banker found many Americans no longer feel tied to their current city. It found 41% of Americans say they’d accept a pay cut or accept a new job with a lower salary if it meant they could move somewhere more affordable. Younger Americans aged 18 to 44 are more likely than those aged 45 to 54 to say that.
For example, 46% of employed workers living in the Northeast and West said they’d gladly accept a pay cut or a new job with less compensation to move to a more affordable location. The top destinations these people are choosing include Austin, Texas and Miami, Florida, Coldwell Banker’s survey found.