The 'great resignation' is over—and Gen Z, millennials could benefit the most – CNBC

After two years of record-high quits, the “great resignation” could be fizzling out. In 2022, more than 50 million U.S. workers left their jobs, the highest number of quits since the government started keeping track in 2000, according to federal data. Abundant job opportunities, labor shortages and significant pay increases for workers who changed jobs all fed this historic quitting wave — now, however, these dynamics are abating, and the great resignation is looking like “a thing of the past,” says Nela Richardson, the chief economist at ADP.Fewer people are quitting their jobs so far in 2023: In March, the number of quits decreased to about 3.9 million, the lowest level since May 2021, according to the Labor Department’s latest Job Openings and Labor Turnover survey.As Richardson sees it, “the ‘big quit’ of last year could be easing into the ‘big stay.'”But the great resignation, a trend that spawned a million colloquialisms and widespread panic among bosses, isn’t driven entirely by economics. “The great resignation, at its core, is a people shock,” Richardson explains. “All of the challenges of the pandemic led us to re-evaluate the purpose of work in our lives … but the labor market of 2021-2022 supported this self-reflection: stimulus
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