Signs Point to 'The Big Stay of 2023' — But for How Long?

July 13, 2023 | From HRCalifornia Extra

by Mike McCluskey, Senior Technical Editor, CalChamber

For those who follow the job market, 2022 is known for both “The Great Resignation,” “quiet quitting” and even “loud quitting,” with 48 percent of hiring managers reporting increased employee turnover. Now, in mid-2023, employers are experiencing “The Big Stay” — an emerging trend in which fewer employees are leaving their current jobs and fewer job opportunities presently exist.

A May study by a national payroll company shows that while there were 9.6 million job openings in March, openings overall have decreased 20 percent from 12 million in 2022. Meanwhile, the rate of workers quitting their current jobs dropped by 5 percent — which is more than double than the same time period in 2022.

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