The US labour market has shifted from the great resignation to the “great stay,” with many workers engaging in “job hugging” by holding onto their roles amid economic uncertainty. The quits rate remains near historic lows as job openings decline and hiring slows. Experts warn this cautious approach may limit wage growth and career progression while restricting opportunities for new jobseekers, signalling a stagnant and cautious labour market.The great resignation becomes the ‘great stay’ in the US: What you need to know about job hugging and stagnant labour markets
The US labour market has shifted from the great resignation to the “great stay,” with many workers engaging in “job hugging” by holding onto their roles amid economic uncertainty. The quits rate remains near historic lows as job openings decline and hiring slows. Experts warn this cautious approach may limit wage growth and career progression while restricting opportunities for new jobseekers, signalling a stagnant and cautious labour market.