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Millions of workers left their work during the “big resignation” of Covid-19 pandemic, but economic uncertainty and uncertainty once again faced the tides of the labor market in the direction of “great stay”.
Economists have shaped the term to refer to fewer employees who leave jobs, and fewer employers who hire or dismiss new employees.
“We had this big resignation a few years ago,” Nela Richardson, chief economist at ADP, told CNBC. But now “the workers are not going anywhere,” she noticed.
“You have your dream job, which is probably partly at home, maybe with a large salary collection … And what we actually see in the data is a very low sales, which is very unusual in the USA,” she added.
“I call it the “great stay”. People stay set. You don’t go. And they stay like IT and software development, where they would normally see a lot of sales, ”she noticed.
Richardson also said that companies put hiring decisions on hold, “because they are not necessarily sure about the street, not necessarily because they try to reduce their number of employees.”
Richardson describes the trend as a “no-hire, no-fire market” and said that the dynamics in relation to the attitude are clearly slowed down, although the first US unemployment claims-a proxy are still near historical lows.
“We think [environment] At the moment because companies hesitate to let people go because it took so long in the USA to get them back. “
The handling of the “big resignation” is dramatic: the Covid 19 pandemic ended the longest employment and economic expansion in US history, according to the US Bureau of Labor Statistics, with around 50.5 million people in 2022 in the amount of 47.8 million in 202.
However, there is signs that the US job market cools down. The growth of non -agricultural salary accounting achieved more slowly than expected 73,000 in July.
The weak report could give the US Federal Reserve an incentive to reduce interest rates if it meets in September, said economists.
UK sees a similar shift
A similar trend was observed in Great Britain, where the number of vacancies, according to the Office for National Statistics, rose to 1,172,000 records from August to October 2021. By the second quarter of 2022, the total number of job offers had reached 1,295,000, the ONS said.
Almost striker on 2025 and the latest jobs published in Great Britain in Great Britain that published in mid -August showed that, according to the ONS, between May to July, in 16 out of 18 industries, the country was 5.8% to 718,000 in 16 out of 18 industries to 5.8% to 718,000.
It added that “Feedback from our vacancy survey indicates that some companies may not recruit new employees or replace employees who have gone”.
The buyers continue on Wednesday, April 16, 2025, the High Street in Maidstone, Great Britain.
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The British economic inactivity rate to what the number of people between the ages of 16 and 64 reflects who do not work and not actively search for work from April to June 2025 to 21%, said the ONS.
“The attitude of companies has decreased continuously in the past 3 years, with the latest break -ins, some of which are tense through higher labor costs from tax increases and the minimum lighter increase as well as general economic uncertainty,” remarked Monica George Mikhail, Associate Economist at the National Institute of Economic Research Think Tank.
“In the meantime, falling inactivity and increasing unemployment increase work.”
Neil Carberry, the managing director of recruitment and employment, told CNBC that Great Britain also recorded a “long stay” trend, with companies reluctant to pursue a job expenditure until they have a better understanding of the British economy trajectory, which is a striking growth.
“The truth is that jobs are created by companies and that the motor of workplace acquisition is growth … unless they put business in a position where they want to hire in Great Britain, they will not come anywhere,” he told CNBC.
“It is quite strange at the moment on the market. The permanent recruitment has been low for two or three years and it has not completely come back [since Covid-19]But companies only sit over the button with one hand. So many of our members say that they can see what they will do, they just want a little self -confidence to do it. “
– Jeff Cox and Greg Iacurci from CNBC have reported on this story
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