About 16% of respondents are also frustrated with insufficient pay and report health concerns
Foster City, CA – August 12, 2021 – “People are lazy.” “Frontline workers want better pay with benefits.” “Unemployment benefits are keeping people from going back to work.” Everyone seems to have a different opinion on why so many jobs remain open in the United States -- June saw a record high of 3.87 million American quitting their jobs according to the Bureau of Labor Statistics.
Given the financial uncertainty surrounding the pandemic, MyBankTracker.com wanted to gain insight into the motives behind this trend. The personal finance site asked American adults who either switched jobs willingly, refused to go back to work or quit a job willingly in 2021 about their primary reason for a change. The Study: Work Burnout is Main Reason for Americans Quitting results provide a clearer picture on this hot topic.
Primary Reasons for Changing Employment
- Work burnout is the main reason Americans are quitting their jobs (28.7%)
- Age groups from 25-64 all list this as their main motivation
- Health concerns and insufficient pay came in a close second (16%, 15.8%) for leaving a workplace
- The youngest (18-24) and the oldest (65+) age groups cite health concerns as the top reason for quitting
- The other age groups list burnout as the main reason
- Nearly 13% report not wanting to return to work in-person (12.8%)
- About 9% note they had childcare concerns (9.3%)
- Only 1.3% said they left for a better job while 1.2% note a better opportunity
- Notable reasons for respondents who chose “other” as the motive include:
- Switching things up (i.e., start a business or career change)
“Regardless of why you leave a job, it’s important to be as prepared as possible in this period of uncertainty,” remarks Simon Zhen, chief research analyst and author of the study. “Make sure that you have an emergency fund, have a plan for health coverage and keep track of any employer-sponsored retirement plans until you roll them over.”
The study was conducted through Google Surveys on behalf of MyBankTracker from June 29, 2021 to July 23, 2021 with 253 respondents in the United States of ages 18 and up who switched jobs, quit their job, or refused to go back to work with a standard deviation of 6.9%.
Zhen is available for comment. He can provide insight into this survey and how Americans can build an emergency fund if they’re planning on changing jobs or careers. He is a personal finance expert with more than a decade of experience in the banking industry.
MyBankTracker is owned and operated by QuinStreet, Inc. (Nasdaq: QNST), a leader in providing performance marketplace technologies and services to the financial services and home services industries. QuinStreet is a pioneer in delivering online marketplace solutions to match searchers with brands in digital media. The company is committed to providing consumers with the information and tools they need to research, find and select the products and brands that meet their needs. MyBankTracker is a member of QuinStreet’s expert research and publishing division.
MyBankTracker is an independent comparison website helping consumers make smart banking and financial decisions. The mission is to match consumers to their perfect bank by providing and tracking in-depth information on more than 5,000 banks, credit unions and financial products. Using a combination of technology and money management expertise, MBT provides personal finance comparison tools and educates consumers to optimize their relationships with banks and lenders.
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