May 9, 2024 - Business

Great Resignation's job-hoppers aren't as happy as those who stuck around

Slope chart showing the reported job satisfaction of workers who left or stayed in the jobs since the pandemic began. From a survey of about 1,500 U.S. working adults, 66% who voluntarily left and found a new job in 2022 said they were satisfied, dropping to 59% in 2023. In comparison, 62% of workers who stayed in their jobs reported satisfaction in 2022, increasing to 65% in 2023.
Data: The Conference Board; Chart: Kavya Beheraj/Axios

Call it Great Resignation regrets. Workers who switched employers after the pandemic hit were less satisfied with their jobs last year than those who stuck around, per a new survey from the Conference Board.

Why it matters: It's a big change from 2022 when job switchers were more satisfied, and may indicate some other simmering issues in the labor market.

Zoom in: One big area of difference was in job security. Workers who switched jobs after the pandemic were more likely to say they weren't satisfied with their job security.

  • Insecurity about employment status is likely more of a concern in 2023, as the frenzy of hiring that spurred the Great Resignation died down.
  • And firms are more apt to let go of recently hired workers. As the adage goes: Last in, first out.

The bottom line: The grass isn't necessarily greener on the other side, the Conference Board notes in its report.

Go deeper