Sign In
Free Newsletter
Biz ‘Bite:’ Age correlates to 2021-2022 quit rates
IBR Staff//September 1, 2022
As 2021 and Q1/Q2 2022 economic data ripen into studies and published reports, various sources have noted that 2021-2022 quitting trends have generational differences. For example, nationally renowned economist Eliot Eisenberg noted on Aug. 25 that: “Over the past two years, 29% of the working population changed employers. Among Boomers the percentage was low at just 15%…However, for Gen Zers it was a whopping 49%. This explains how overall economy-wide quit rates are averaging 34% per year for the last 18 months. It’s younger workers, some of whom are repeatedly job switching for better pay and opportunities.”
Multiple sources back up Eisenberg’s statement with similar statistics like Deloitte, the Federal Reserve Bank of Atlanta and the U.S. Bureau of Labor Statistics. Whether the pattern will persist through the end of 2022 is anyone’s guess.
