The Great Resignation: New Mexico sees quit rate above national average
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ALBUQUERQUE, N.M. – The pandemic has disrupted workplaces in many ways. As people worked remotely in record numbers, they took time to reevaluate their lives and many quit, leading to the Great Resignation.
One marketing and communications consultant in Albuquerque did even more than that.
"I kind of always wanted to venture out on my own and do some contracting work and fulfilling that entrepreneurial dream," said Matt Mora, a freelance marketing consultant.
After working in the corporate world for years, the pandemic brought up a change in mindset for Mora.
"Had the pandemic not happened and we had still been in the office, you know we would have been locked in that routine – but once that routine was disrupted, you kind of start to see other avenues," Mora said.
Mora’s not alone.
Reilly White, Ph.D., an associate professor of finance at UNM, says New Mexico’s 3% quit rate outpaced the 2.9% national rate.
"It was 25,000 in December, 25,000 in November and 22,000 in October," White said. "That represents about 3% of our workforce at any given time quitting their jobs."
White said many of those workers do quit for other jobs – often for better pay or other benefits – and right now it’s an employee’s market, meaning employers are going to have to find ways to adapt.
"There are two available jobs for every unemployed person," White said.
As for Mora, he’s enjoying being an entrepreneur and doing more work that suits him.