
Talk of the 'Great Resignation' has been dominating headlines for months now, and it’s not hard to see why.
The trend is currently sweeping across the country, after a staggering 1.3 million people walked away from their jobs last year, according to the ABS.
664,300 Aussies were either in the process of changing jobs or looking for a new position in May alone in 2022, says CommSec’s Chief Equities Economist Craig James.
Of course, it's not just Australia that is seeing a mass exodus. The phenomenon has been playing out all over the world, spurred on by the pandemic.
"The pandemic has caused people to reassess how they want to live, work and play effectively. So we are seeing across the globe, people are reassessing what work they want to do and how they want to do that work," James tells Mamamia.
Watch: Job interviews translated. Post continues below.
For some, it’s the promise of a more fulfilling role, flexible work arrangements or a dream to start their own business that encourages them to hand in their resignation letter.
"We know that a record number of small businesses have been created over the last few years," James says, pointing to the over 200,000 new businesses started in Australia from March 2020 to March 2022.
"We have also seen this trend, [where people are] moving away from capital cities and moving out to rural and regional ares, where they are setting up the ability to work from home."
While the 'Great Resignation' trend has been continuing throughout the pandemic, James says February marked the first time where more people left their last job (176,300) than lost their last job (175,600).
While James can't say how long the trend will continue, he says international travel will continue to affect job movements.