US Economy: Some Americans Questioning Employment Decision Amid ‘Great Resignation’

Amid mixed economic news and a potential recession, some Americans who joined "The Great Resignation" now regret their choice.

According to a recent survey from Joblist, around 80% of U.S. job seekers expect a recession, and many already think the recession is here.

The U.S. economy added 413,000 jobs throughout April and May. However, half expect that with the resignation, the job market will get worse over the next six months.

With a recession likely on the way, and half of the job seekers expecting the U.S. job market to get worse, around 60% of those job seekers surveyed feel more urgency now to find a job than ever before. Still, according to the Bureau of Labor Statistics, the number of those who left their jobs in May stood at 6 million while hiring remained strong.

A little over a quarter of those job seekers who quit their jobs now regret their decision. Of those who found new jobs, a little over 40% say that their new job did not live up to their expectations.

Many left the workforce to find better working conditions: pay, benefits, and workplace culture. However, many realize that their new jobs are not better than their previous jobs.

The Job Seeker Confidence Index is also at its lowest since early 2021, and pessimism is only increasing. Around 15% of job seekers expect the job market to get worse next month, but 49% expect the job market to get worse in the next six months.

However, that does not mean all hope is lost. There are currently 11.3 million job openings as of the last BLS report for May released last week.

"This reflects how, although there are many warning signs, the job market is reacting slowly. It very much remains to be seen to what extent job seeker fears are realized in the second half of 2022," according to Joblist.