A lot of anecdotes in this thread, but it’s important to keep it in perspective: The current employee turnover rates are higher than they have been, but when you look at the numbers it’s about 2.8% monthly quit rate compared to an average of around 2%: https://fred.stlouisfed.org/series/JTSQUR
So yes, it’s up, but the news articles trying to explain this as some sort of society-wide shift and pushing anecdotes of people leaving companies en masse are getting ahead of the numbers. It’s also ignoring the sharp downward spike in quit rate during the start of the pandemic, which has produced some ripple effects.
The economy is also booming right now with the influx of cash, people staying home and spending more on tech, and low interest rates. Every company that can take advantage of it is doing so by hiring.
> A lot of anecdotes in this thread, but it’s important to keep it in perspective
Yet these numbers need to be kept in perspective: they're quit rates for all non-farm jobs. The quit rate for any individual job sector can be much higher than the average rate. So while the average quit rate isn't way higher than the past few years, it certainly seems like the tech sector is seeing a lot of shuffling around.
So yes, it’s up, but the news articles trying to explain this as some sort of society-wide shift and pushing anecdotes of people leaving companies en masse are getting ahead of the numbers. It’s also ignoring the sharp downward spike in quit rate during the start of the pandemic, which has produced some ripple effects.
The economy is also booming right now with the influx of cash, people staying home and spending more on tech, and low interest rates. Every company that can take advantage of it is doing so by hiring.