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“The Great Renunciation” is changing the structure of the US labor market.

Gina Marino quit two jobs last year. In the summer, he left a position at a small social media marketing agency for a larger company that offered more money and more responsibility.

Three months later, despite liking his colleagues and the company, realizing he lacked passion for the industry he was supporting, he resigned again.

Marino, 25, was not long out of work. A more targeted job search brought quick responses from firms that needed to fill positions immediately.

help was really neededsaid Marino, who lives in Stamford, Connecticut. Last fall, she landed another social media marketing position, this time for a hair care company, which is more in line with her interests.

She is hardly alone. Nearly four million Americans on average quit their jobs every month last year, an unprecedented wave of turnover as the economy emerges from a pandemic-induced recession that, while brief, appears to be leaving a lasting mark on America’s job market. U.S.

Job openings are near historically high levels as companies look to raise or bring back staff in response to shifts in consumer demand, and there aren’t enough workers to fill all positions. As of December, there were almost two vacancies for every unemployed person, according to the Labor Department.

That mismatch means many workers find themselves with more options and take them.

With hiring still outpacing the level of quits, some economists say the so-called “Great Quit” trend is actually more of a big shakeup, as people take advantage of the tight labor market to seek jobs with better pay, more flexibility, or to Try something new.

“Work has become a commodity,” said Nela Richardson, chief economist at payroll processor ADP. “If you don’t like this one, you can get another one.”

Help finding help

Companies with open positions need to cast a wider net to reach the right candidate, and some are looking for more help.

Business is booming for Goodwin Recruiting, which regularly works with hospitality clients. Allegra Highsmith, vice president of operations, said the company is now recruiting for about 4,700 openings, up from 1,500 in early March 2020, just before the pandemic crippled the economy.

The firm also doubled its network of independent contractors that help recruit workers, from about 100 to more than 200 at the end of 2019.

Recruiters are increasingly having candid conversations with employers about how they should make their offers more attractive by raising pay, improving benefits or adding bonuses or other perks, Highsmith said.

Gianfranco Sorrentino, owner of three Italian restaurants in Manhattan, Il Gattopardo, Mozzarella & Vino, and The Leopard at des Artistes, is experiencing it firsthand. He increased the hourly pay for some kitchen jobs, such as porters and dishwashers, from $15 to $18. He also raised wages for workers in management by 15% to 20%.

But Sorrentino, who also owns a catering business, said he still struggles to find trained managers, servers and bartenders. “We have to be competitive not only with other restaurants, but with any other type of industry that offers the same“, He said.

Source: Gestion

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