A New Era for Labor

Forget about quiet quitting.” This year will be all about loud layoffs”

From the great resignation of 2021 to the “quiet quitting” trend that redefined the workplace in 2022, the American labor market has had a couple of tumultuous years. But in 2023, on the verge of a potential recession that could have a profound impact on the country’s economy, American workers want to stay put—and hold on tight to their jobs.

A broad majority of Americans—64 percent— are not looking to change jobs this year, according to a recent survey carried out by Redfield & Wilton Strategies on behalf of Newsweek, reversing a steady trend that has characterized the U.S. labor market for the past couple of years.

While these workers—including employed and self-employed individuals—mentioned their current work-life balance as the main reason not to leave their current job, the growing economic uncertainty in the U.S. and the rest of the world is also playing a part in the unwillingness of American workers to take risks this year and change jobs.

The survey results raise important questions about the near-term future for U.S. workers: How bad could the situation get? Will people be able to continue working remotely, as so many have since the pandemic? And does this mean the “quiet quitting” era has come to an end?

Tech Troubles