The unemployment rate in New Hampshire remained steady at 2.6% in January, the same as December [75e8bad9]. In January, there were 743,460 employed residents in the state, an increase of 1,350 from December and 560 more than in January 2023 [75e8bad9]. The number of unemployed residents decreased by 200 from December to 19,670 in January [75e8bad9]. Compared to a year earlier, there were 4,330 more unemployed individuals in January [75e8bad9]. The total labor force in New Hampshire increased by 1,150 from December to 763,130 in January, representing 4,890 more residents than in January 2023 [75e8bad9].
Nationally, the unemployment rate for January was 3.7%, unchanged from December [75e8bad9]. The national rate was 3.4% in January 2023 [75e8bad9].
In Japan, the unemployment rate for January was 2.4%, meeting expectations and unchanged from the previous period [a439c254].
According to the latest news, the unemployment rate for February in Japan is 2.6%, higher than the previous value of 2.4% and exceeding the forecast of 2.4% [a80197b4].
Employee turnover rates vary across different US states. In December 2023, the national quit rate was 2.2%, or about 3.4 million people [25642c89]. Some states with high turnover rates include Michigan with a quit rate of 1.5% and 68,000 quits, Massachusetts with a quit rate of 1.6% and 61,000 quits, and Hawaii with a quit rate of 1.7% and 11,000 quits [25642c89]. Other states with higher quit rates include California, Washington, and New Jersey [25642c89]. Florida and Texas have quit rates of 2.6%, with 261,000 and 368,000 quits respectively [25642c89]. Georgia has a quit rate of 3.0% with 148,000 quits [25642c89]. West Virginia has a quit rate of 3.1% with 22,000 quits [25642c89].
Low pay, minimal opportunities for growth, and disrespectful work environments are some of the reasons employees quit their jobs [25642c89].
The Great Resignation, a trend of increased employee turnover during the COVID-19 pandemic, has declined, but turnover rates remain high in certain US industries. According to a study from Eagle Hill, worker confidence in leadership and workplace satisfaction is declining, potentially leading to increased turnover [be320071]. Industries like healthcare and hospitality continue to experience high turnover rates [be320071].
iCIMS' 2024 Workforce Report shows that 51% of surveyed individuals contemplate job changes, primarily driven by salary aspirations [be320071].
According to a study by LinkedIn and Microsoft, more people are looking to leave their jobs now than during The Great Resignation. The study surveyed 31,000 individuals across 31 countries and found that 46% of people want to quit their jobs in the year ahead, which is higher than the 40% in 2021. In the U.S., around 85% of professionals are eyeing up a new job this year. The reasons behind the increase in workers wanting to leave their jobs include burnout, a lack of learning opportunities, and the impact of artificial intelligence. Employers are concerned about employee retention, with 90% of organizations globally expressing concern and half of European hiring managers predicting an increase in employee turnover in 2024. Learning opportunities are seen as a top retention strategy, and companies with strong learning cultures have higher retention rates. However, history shows that periods of low attraction are usually followed by high attrition, and surveys have found that many people who switched jobs during The Great Resignation are now less satisfied at work and regret their decision. The study highlights the importance of work-life balance, job satisfaction, and a good company culture. [d571a4ab]
According to new research from Microsoft and LinkedIn, nearly half (46%) of professionals say they're considering quitting their jobs in 2024, which is higher than the 40% who said the same ahead of 2021's 'great resignation'. In the U.S., LinkedIn has seen a 14% increase in job applications per opening since last fall, with 85% of workers planning to look for a new role in 2024. Americans' confidence in their job-hunting prospects has reached its highest point in two years. The main drivers for considering a job change are better labor market conditions, the need for a higher income due to inflation, and dissatisfaction with current roles. The return on investment of switching jobs feels 'much higher' than it did six months ago as salaries are finally keeping up with inflation. However, some people regretted leaving their jobs during the 'great resignation' as the new jobs didn't always result in a lifestyle upgrade. Despite this, there are still plenty of high-paying job opportunities available in industries such as health care and skilled trades. [25d2ca60]
New Zealand is experiencing a record number of citizens leaving the country, with a net migration loss of 52,000 New Zealand citizens in the year to March 31. This equates to over 1000 citizens leaving the country every week [2f1b3116]. The country did, however, experience a net migration gain of 163,000 non-citizens during the same period [2f1b3116]. The reasons behind this mass exodus include uncertain economic conditions and the perception that the grass may be greener overseas [2f1b3116].
In terms of economic conditions, Australia has seen a slight rise in unemployment, while the median rent has jumped 8.5% [2f1b3116]. The United Kingdom's unemployment rate rose to 4.3% and inflation sat at 3.2% [2f1b3116]. The United States' unemployment rate held steady at 3.9%, and the Consumer Price Index (CPI) rose 3.4% in April [2f1b3116]. Canada's unemployment rate is at 6.1%, and the CPI rose 2.9% [2f1b3116].
Despite the uncertain economic conditions, there are still high-paying job opportunities available in industries such as healthcare and skilled trades [25d2ca60]. However, individuals considering a job change should carefully weigh the potential benefits against the risks and challenges of relocating to a new country [2f1b3116].
Record numbers of people are leaving New Zealand as the cost of living crisis is being compounded by limited job opportunities. In the year to April 2024, there was a net migration loss of 56,500 citizens, up 12,000 from the previous record. Many young New Zealanders are opting to travel overseas, but a significant portion of the exodus is due to the growing attraction of working in Australia. Half of the New Zealanders who left recently have moved to Australia, where they are being offered higher pay and better working conditions. The exodus could worsen New Zealand's skill shortage, as the highly skilled people leaving are difficult to replace. The recent surge in departures is partly due to a backlog caused by people delaying their plans due to the COVID-19 pandemic. The economic recession in New Zealand is also a contributing factor. While the net migration gain in New Zealand remains historically high, it shows a declining trend. The exodus could continue as long as New Zealand languishes in recession. [27b91aa1]
In 2023, 44,534 New Zealanders, almost 1% of the nation's population, left to live in Australia; The net migration loss, taking into account Australians moving to New Zealand, was 27,011 last year, an 85% increase from 2022; New Zealand's weak economy and higher pay in Australia are attracting Kiwis to move; Average weekly earnings in Australia are A$1,888, almost 30% more than in New Zealand; Australia is running aggressive recruitment campaigns to attract Kiwis to work in sectors like healthcare, early childhood education, police, and prisons; Government spending cuts and job losses in New Zealand have pushed many to look for opportunities abroad; The exodus of 25 to 44-year-olds from New Zealand is not being mitigated by an inflow of similarly aged people from overseas; Cost-of-living pressures and the cost of housing are major factors driving young people to seek opportunities in Australia. [7201026d]