From Great Resignation to great uncertainty, the big quit may be losing steam – CNBC

The Great Resignation has dominated the workplace for nearly two years — but employers may soon be able to heave a sigh of relief. The labor market is now “emerging from” the Great Resignation, LinkedIn’s CEO Ryan Roslansky told CNBC Make It. The phenomenon — also known as the “Great Reshuffle” — refers to the mass exodus of workers during the pandemic.According to Roslansky, the year-on-year share of global LinkedIn members changing jobs has dropped from a high of 44% in September last year to -2% this year.Similarly in Asia-Pacific, the “job transition rate” has also drastically fallen in the same time period — from a peak of 83% to 4%, he added.In November alone, more than 20,000 U.S. tech workers were laid off, as internet giants Twitter, Meta and Salesforce downsized their workforce in the past week.Employees are acutely aware of this uncertain environment, too. In the past few years, they’ve been worried about their health, their job security, and their pocketbooks.Guy BergerPrincipal economist, LinkedInInstead of the Great Resignation, the workforce is now “entering a period of great uncertainty,” said Roslansky. This is reflected in employees’ decreasing confidence that their financial situation could improve, as found in LinkedIn’s recent Global Talent Trends report.Five out
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