Millennials Are Staying With Their Jobs

Millennials and job hopping seem to be congruent issues in the post-recession economy. Yet statistics seem to reveal that more people are staying longer at their current jobs, and that this is true even among some of the younger workers in the modern American workforce.

Paul Petrone of VoiceGlance cites two major statistical points as to why the perception of job hopping among Millennials is misplaced. The Washington Post has a graphic that shows workers have stayed at jobs 3.2 years as of 2012, the most since 1983 when the average worker stayed at jobs 3.0 years. The Bureau of Labor Statistics states the median years of tenure at a job for those 16 and older was 4.6 years as of January 2014, the highest that figure has been since January 2004. The 4.6-year tenure statistic also occurred in January 2012.

Petrone asserts job hopping occurs when there are more opportunities for employment in the labor market. When there is a good economy, more people seek better jobs. Companies that have no fear of employees leaving keep wages the same since no one wants to be unemployed.

Job hopping lowered during the post-recession years because young Millennials, those ages 25 to 34, stayed with work once they found it. Having a job was better than the unemployment lines that dominated headlines in 2007 and 2008. If people do not switch jobs quickly, this could be a sign that an economy is not as good as it could be.

With the economy improving, employers have to protect against their workers finding better employment elsewhere. Wal-Mart, for instance, announced a raise in its minimum wage to $9 per hour for April 2015, with the company minimum going to $10 per hour in February 2016. The move costs the retail giant $1 billion, and experts believe the pay raise is a "game changer" for low-wage retail workers. The retail giant perceives that its best workers, who stuck with the company during the recession, may leave for the competition and may find better wages elsewhere.

Employers almost always expect Millennials to stay at jobs for shorter periods of time. Further, the perception of job hopping as something that's "bad' may be outdated. Switching jobs has become a non-issue due to its prevalence among all workers, especially after many people lost jobs during the economic downturn. Tricks for people trying to get a solid job after going from position to position include being honest with interviewers and structuring a resume to focus on other aspects of employment history. Jumping from company to company does not have to hinder future hiring.

Job hopping statistics will change eventually, and most likely when the economy improves enough to offer better employment opportunities for regular American workers. Some Millennials may find a job promotion or discover the same kind of work pays better elsewhere.

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