The stock market may be down, but the job market is up, way up. According to a new analysis by Axios, the nature of jobs is also changing, maybe forever.
With unemployment at near record lows, there are two job openings for every unemployed person. That gives people working and who are still looking for work a choice of quitting their current jobs to take a new job or deciding to pursue a new career.
The COVID pandemic that shut down businesses with millions of people being laid off has led to changes.
The Axios report says more and more Baby Boomers are retiring…and doing it earlier…with the 55 and over work force down at least 2-percent since the start of the pandemic. And there aren’t as many Millennials or Gen Z’ers to replace them.
There are lot of people who are choosing to quit their current job and get a new one that pays more, which many jobs now do because employers need workers. Or they quit for a new job because the pandemic convinced them that they want more flexibility, want to be able to work from home or spend more time with family.
As one expert puts it, a lot of people are re-thinking their relationship to work.
That’s not necessarily a bad thing for employers with many businesses now rethinking how they do things and how they will do things from now on and giving employees more flexibility. Having been infected by changes in the way they look at life after the pandemic, many Americans have discovered that a job doesn’t have to be a grind and want something better.
(Photo Getty Images)