Great Resignation - Wikipedia

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2021-09-11 20:30:06

The Great Resignation, also known as the Big Quit,[1] is the ongoing trend of employees voluntarily leaving their jobs, from spring 2021 to the present, in response to the COVID-19 pandemic. The term Great Resignation was likely coined by Anthony Klotz, a professor of management at Mays Business School of Texas A&M University.[2]

From December 2000 to the beginning of the COVID-19 pandemic in 2020, the United States resignation rate never surpassed 2.4% of the total workforce.[3] High quit rates indicate worker confidence in the ability to get higher paying jobs, which typically coincides with high economic stability, an abundance of people working,[4] and low unemployment rates.[5][6] Conversely, during periods of high unemployment, resignation rates tend to decrease as hire rates also decrease. For example, during the Great Recession, the US quit rate decreased from 2.0% to 1.3% as the hire rate fell from 3.7% to 2.8%.[3]

US resignation rates during the COVID-19 pandemic initially followed this pattern. In March and April 2020, a record 13.0 and 9.3 million workers (8.6% and 7.2%) were laid off, and the quit rate subsequently fell to a seven-year low of 1.6%.[3] Much of the layoffs and resignations were driven by women, who disproportionately work in industries that were affected most by the lockdowns, like service industries and childcare.[7][8][9]

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