“Big Residence” and “non -renting, no shooting”, a change in labor markets

Millions of workers left their jobs during the “great resignation” for the Covid-19 epidemic, but economic insecurity and uncertainty have transformed the tide in the labor market towards “great residence”.

Economists formulated the term to refer to fewer employees who leave jobs, and less than employers who employ or launch new workers.

“We had this” great resignation “just two years ago,” Nilla Richardson, ADP chief economist at CNBC. But now, “workers do not go anywhere.”

“They got the job of their dreams, which may be at home in part, perhaps with great salaries … and what we already see in the data is very low, which is very unusual in the United States,” she added.

“I call it “great residence”. People remain in a position. They do not leave. They remain in things like that and develop software, as you will usually see a lot of rotation. “

Likewise, Richardson said that companies put employment decisions “because they are not sure from the road forward, and not necessarily because they are trying to reduce the number of employees.”

Richardson described as describing the trend as “a market without renting,” that momentum is clearly slowing in terms of employment, although the unemployed demands in the United States-a agent to lay off workers-are still near the lowest historical levels.

“We believe that there is no care, no good (environment) at the present time because companies are very hesitant to allow people to leave, because it took a long time in the United States to restore them.”

The shift from “great resignation” is exciting: Covid-19 has ended the longest economic employment and expansion in the history of the United States, According to the American Labor Statistics OfficeWith about 50.5 million people who left their jobs in 2022, up from 47.8 million in 2021.

But there are signs that the US job market is cooling; The growth of the non -cultivated salary statements came in 73,000 slower than expected in July, The latest data from Aug.1 showedWhile the unemployment rate increased to 4.2 %.

Economists said that the weak report can provide an incentive for the American Federal Reserve to reduce interest rates when it meets the next September.

A similar trend was seen in the United Kingdom, where the number of vacancies increased to 1,172,000 during the August-2021 period, According to the National Statistics Office. By the second quarter of 2022, the total number of job vacancies reached 1,295,000, Ons said.

Quickly until 2025 and the latest job data in the United Kingdom, Issued in mid -AugustHe showed that the country’s labor market continued to calm with a 5.8 % vacancies to 718,000 from May to July 16 out of 18 industry sectors, according to The ONS.

He added that “the reactions from our vacancies survey indicate that some companies may not employ new workers or replace the workers who left.”

He said that the rate of economic lack of activity in the United Kingdom-which reflects the number of people between the ages of 16-64 who do not work at work and do not search activity-by 21 % in April to June 2025.

“The employment of business has continuously decreased over the past three years, with declines in the part of the high costs of employment from the tax rise and the minimum wage rise, as well as the general economic uncertainty,” indicated by Monica George Michel, an economist at the National Institute for Economic and Social Research.

“Meanwhile, low activity and high unemployment increases the provision of employment.”

Neil Carberi, CEO of the Employment and Employment Union, told CNBC that Britain was also seeing a “great residence”, as companies hesitate to go to employment spending so that they had a better understanding of the British economy’s path, which was suffering from faded growth.

“The truth is that the jobs are created by companies, and the job creation engine is growth … unless you get a job they want to use in the United Kingdom, you will not reach anywhere.”

“On the market today, it is very strange. Permanent employment has been low for two or three years until now, and has not been completely no longer (since Covid-19), but companies, like them, are sitting there with a button. So what many of our members say is that they can see what they will do, they want a little confidence to do so.”

Jeff Cox from CNBC and Greg Iacurci contributed to reporting this story