According to the Chinese calendar, it will be the Year of the Rabbit soon, but it could also be the Year of the New Job.
According to Monster.com, 96% of workers are searching for new jobs in 2023. This is large because they want better pay.
Vicki Salemi (career expert at Monster) said that “this is phenomenally high” compared to the numbers at the peak of the “great resignation”.
Monster found that nearly half (40%) of job seekers said they require a greater income to keep up with inflation and rising costs. Others stated that their current job is too restrictive or they work in a toxic environment.
The beginning of the year is a great time to take a look
Although wage growth is high, historical standards don’t indicate that it has kept pace with rising living costs. This is causing more people to be unhappy with their wages, at 6.5%.
Job-hopping is widely regarded as the best way to increase your career prospects and salary. Record-breaking wage growth is seen in job changes compared to those who remain in their current position.
According to Glassdoor’s lead economist Daniel Zhao, who cited data from the Atlanta Federal Reserve, the latest data shows that job-changers have experienced 7.7% wage growth since November while those who remain in their jobs have seen 5.5%.
While there are some concerns that the market may cool due to recession fears, recent data from the U.S. government shows that the labor market is strong with a record-low unemployment rate of 3.5%.
Barbara Safani, President of Career Solvers New York, stated that “The first quarter is always a good place to look because fiscal budgets are replenished.”
She said that despite recent reports of widespread layoffs, certain industries are still doing very well. “If there are cuts, they are usually planned months in advance, so those companies wouldn’t be hiring in January.”
Consider these key points before you start a new job
Safani stated that there are many other factors to consider before you accept a new job. Safani says clients should consider all aspects of the job, even though they may get paid more.
She said, “It’s never always apples to apples.”
Post Title: 96% of workers want a new job in the US by 2023. What should you know before you make a job change
Posted Date: January 15, 2023
Author: USA Jobs