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Jobless want you to quit already!

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Jobless want you to quit already!

Post  Admin on Thu Feb 09, 2012 8:59 pm

Even though some employees are frustrated with their jobs because the tough economy has led to furloughs, wage freezes, and cuts in benefits, many of them aren’t upset enough to say, “I quit!”

More workers are reluctant to leave their employer and it’s shrinking job opportunities for the unemployed , underemployed and those looking to find new work horizons, according to an article in the Wall Street Journal Wednesday. Turns out, some workers are just too scared to take a chance on a new gig in this job market.

US Labor Department statistics showed that less than 2 million workers quit their jobs last month. That’s way less than the three million, on average, that did so before the Great Recession
With fewer workers heading out the door, there’s less churning in the work market. That churning is what’s keeping the number of job openings at low levels, said Steven Davis, a University of Chicago economist quoted in the Journal's story.

Even though the unemployment rate dipped to 8.3 percent last month, there were still nearly 13 million jobless searching for work, and the number of discouraged workers, or workers who gave up looking, topped 1 million.

It’s hard to blame people from getting discouraged, especially if people are refusing to leave their present gigs in such high numbers.

According to the Labor Department’s data, the number of you exiting your gigs bottomed out in 2010. “The 2007-2008 recession was longer and deeper, but more than one-and-a-half years after it ended, the quite rate has yet to rebound significantly,” the Journal article stated.


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