: So long, Great Resignation: ‘The Big Stay’ is the new workplace trend, this economist says

by | May 20, 2023 | Stock Market

The Great Resignation is coming to a close, as far as one prominent economist is concerned — and “the Big Stay,” as she dubs it, could be here to, well, stay. Nela Richardson, chief economist at ADP
the payroll-service company, says that workers are increasingly sticking with their jobs (aka the Big Stay) in the current economic environment. And she cites a number of factors behind this transition from last year, when more than 50 million employees quit their positions (aka the Great Resignation).

Richardson’s argument is rooted in some key U.S. government and ADP labor statistics. In a recent ADP Research Institute posting, for example, she pointed to the rate of job “quits” having fallen 5% in the first three months of 2023 versus the previous period — and by an even greater percentage versus a year ago. Richardson also told MarketWatch that the Great Resignation was clearly fueled by a period when many workers benefitted from the pandemic-related financial assistance provided to them by the government, and therefore could afford to leave their jobs altogether — at least for a while. It “gave people a breather,” she says. In that sense, the movement wasn’t even about job-switching but a true, if temporary, resignation from the …

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