93% of Workers are Looking for a New Job in 2023

The year 2023 is for new jobs for many people. 93% of People are searching for a new job with high pay. The desired number of people for new jobs is very high compared to the number of resigned employees.

40% of job seekers said they needed a higher-income job due to inflation and rising expenses. They also said they need a workplace where they can grow.

You should start your job search at the beginning of the year

The wage of employees increased by historical standards but cannot fulfil the needs of cost of living. This is up 65% from last year, but employees are still dissatisfied with their pay. Career advancement and revenue can be improved by job-hopping. There is a record difference in wage growth between job switchers and those who stay in their current roles.

According to the latest data, job switchers have experienced 7.7% wage growth as of November, while those who have stayed in their jobs have seen 5.5%, according to Daniel Zhao, the lead economist at Glassdoor.

As recession fears take hold, there is a chance that the job market will cool, yet recent government data show the U.S. labour market remains strong with a 3.5% unemployment rate. A good time to look is always the first quarter of the year since fiscal budgets have been replenished, says Barbara Safani, president of Career Solvers. According to her, some industries do very well despite recent reports of extensive layoffs. If any cuts are going to happen, they’re usually planned months so that these companies wouldn’t be hiring in January.

Key considerations before taking a new job

Safani, president of Career Solvers, said, You need to consider things other than high salaries. You may get High pay, but after getting a new job opportunity, you need to figure out all the aspects of the new position.

You can find different ways to stand out from other candidates by improving your resume, doing some interview practice, and seeking additional training.

Another significant financial thought while exchanging positions is your retirement plan. If you have a 401(k), you can either leave it with your past manager or turn it over to your new one. Most of the time, turning over a 401(k) is a decent move, but this fluctuates from one worker to another.