Evolving labor dynamics: examining office worker leverage over the past 20+ years in the U.S.

The office worker quits-to-layoffs and discharges ratio measures how much sway employees have relative to their employers. When employees are quitting at a higher rate than employers are conducting layoffs, the ratio increases, signifying growing employee advantage.
In 2021, this ratio jumped to 3.1—the highest in recent history. At the start of 2024, employee leverage declined heavily; however, was still in the employees’ favor. In recent months, the ratio increased to 1.9 quits per layoffs/discharges—the most competitive the market has been thus far in 2024.
While the job market is always changing and experiencing peaks and valleys, the past 20+ years of data shows that this ratio has remained above 1 most of the time. To stay ahead in competitive job markets, employers must craft engaging office experiences that promote productivity, collaboration, professional growth and meaningful connections.

August 30, 2024