Great Resignation

The Great Resignation, also known as the Big Quit and the Great Reshuffle, was a mainly American economic trend in which employees voluntarily resigned from their jobs en masse, beginning in early 2021 during the COVID-19 pandemic. Among the most cited reasons for resigning included wage stagnation amid rising cost of living, limited opportunities for career advancement, hostile work environments, lack of benefits, inflexible remote-work policies, and long-lasting job dissatisfaction. Most likely to quit were workers in hospitality, healthcare, and education. In addition, many of the resigning workers were retiring seniors. Collectively, the Baby Boomers are one of the largest demographic cohorts in the United States.

Some economists have described the Great Resignation as akin to a general strike, especially with regards to retail workers. However, workforce participation in some regions had returned to or even exceeded the pre-pandemic rate. This suggests that instead of remaining out of the workforce for extended periods (which can be financially difficult, especially at a time of high inflation), many workers were simply swapping jobs. Some regretted quitting their old positions.

The term "Great Resignation" was coined by Anthony Klotz, a professor of management at University College London's School of Management, in May 2021, when he predicted a sustained mass exodus. In response, businesses have increased the rate of automation, creating a boom in robotics and artificial intelligence. Furthermore, while workers might feel empowered by being able to quit as soon as they see fit, they might struggle to climb up the career ladder due to their lack of experience and professional connections. Klotz later predicted the plateauing of the quit rate in 2023, and the end of the Great Resignation. Indeed, by mid-2023, the quit rate has more or less returned to what it was in 2019.