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The one question you should ask yourself before quitting for remote work
Yahoo Finance
The one question you should ask yourself before quitting for remote work
Sibile Marcellus · Anchor
Tue, September 14, 2021, 1:28 PM
The labor market is no doubt tight: Job openings in July rose to record highs, the Labor Department’s monthly Job Openings and Labor Turnover report found. The overall quits rate was unchanged at 2.7% for the month, but the quit rate for the private sector increased to 3.1% from 3.0%, matching the all-time high in 2001, according to ING.
Different dynamics are fueling this trend, Adam Ozimek, Upwork’s chief economist, told Yahoo Finance – primarily the ability to work remotely since the pandemic hit the U.S. in 2020.
Remote work has played a key role in driving up the quit rate among the higher-skilled part of the labor market, said Ozimek. “There are a lot of workers who simply don’t want to go back to the office,” he said. “That desire to stay remote is playing a part there.” According to Upwork’s Great Resignation report published in August, over a third of remote workers are not excited about returning to the office.
Remote work has driven migration across the country. Nearly 55% of remote workers are planning to move at least two hours away, according to Upwork. In the absence of in-person office requirements, more than half of remote workers – 52.5% – are planning to move to a house that’s less expensive than their current home.
For those planning such a move, remote work career prospects are a major factor, said Ozimek.
{snip}
The one question you should ask yourself before quitting for remote work
Sibile Marcellus · Anchor
Tue, September 14, 2021, 1:28 PM
The labor market is no doubt tight: Job openings in July rose to record highs, the Labor Department’s monthly Job Openings and Labor Turnover report found. The overall quits rate was unchanged at 2.7% for the month, but the quit rate for the private sector increased to 3.1% from 3.0%, matching the all-time high in 2001, according to ING.
Different dynamics are fueling this trend, Adam Ozimek, Upwork’s chief economist, told Yahoo Finance – primarily the ability to work remotely since the pandemic hit the U.S. in 2020.
Remote work has played a key role in driving up the quit rate among the higher-skilled part of the labor market, said Ozimek. “There are a lot of workers who simply don’t want to go back to the office,” he said. “That desire to stay remote is playing a part there.” According to Upwork’s Great Resignation report published in August, over a third of remote workers are not excited about returning to the office.
Remote work has driven migration across the country. Nearly 55% of remote workers are planning to move at least two hours away, according to Upwork. In the absence of in-person office requirements, more than half of remote workers – 52.5% – are planning to move to a house that’s less expensive than their current home.
For those planning such a move, remote work career prospects are a major factor, said Ozimek.
{snip}