The Great Resignation remains in full force, with a record 4.5 million workers who quit their jobs in November, according to the latest data from the U.S. Department of Labor.
Statistics show that older workers make up a surprising number of those who left their jobs during the pandemic. Overall, among workers 55 and older, the probability of leaving work within a year increased by 7.6%, according to a data analysis by the Center for Retirement Research at Boston College. That marked a 50% increase over the pre-pandemic rate.
While some workers are quitting their jobs to take on another role elsewhere, others are leaving the workforce forever.
The following are four types of older workers who were most likely to leave their jobs during the pandemic, according to the Center for Retirement Research.
Older women were slightly more likely than men to leave work during the pandemic. Compared to the pre-pandemic trend, there was an 8% increase in the number of older women who left their jobs over the course of a year.
That exceeded the 7% increase in older men leaving the workforce during the COVID-19 era.
The fact that older women quit smoking more often than older men reflects a larger trend in which women of all ages are leaving work at a higher rate than their male counterparts. according to data.
2. Asian Americans
Most racial groups have seen an increase of about 7 percentage points in the number of older workers leaving the workforce compared to pre-pandemic-era norms. But the increase among Asian Americans has been much higher, about 12%.
In April, the Bureau of Labor Statistics reported that nearly half (48%) of the 615,000 unemployed workers in the Asian-American community had been out of work for at least six months, a significantly higher percentage than that of workers from other racial groups. .
Experts attributed the trend to the fact that low-wage industries populated by a disproportionate number of Asian and Pacific Islander workers did not rebound as quickly as other parts of the economy. It is possible that a good number of these older workers simply decided to leave the workforce for good.
3. High school graduates
Among older college graduates, the rate of workers leaving the workforce increased 6% compared to pre-pandemic rates. However, the rate was much higher among those with only a high school diploma: 11%.
4. Those who cannot work remotely
Among older workers, the ability to work remotely was the biggest factor dividing workers who quit from those who stayed in their jobs.
Workers who had the ability to perform their jobs remotely gave up rates that were only 4% higher compared to the pre-pandemic era. In contrast, that number jumped to 10% for those whose occupation did not lend itself well to remote work.
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