Survey: 55% of Americans expect to search for new job over next year

The coronavirus pandemic massively disrupted Americans’ working lives, and a new Bankrate survey suggests that it’s causing many of them to now re-evaluate what they want out of their careers.

Most Americans (55%) who are either employed or looking for a job say they are likely to look for new employment in the next 12 months, according to Bankrate’s August 2021 Job Seeker Survey.

Even more surprising, some 28% of working Americans who currently say they’re not looking for a new job are still expecting to search for a different position at some point in the next year.

“After spending the last year or more stuck in their homes, a good number of American workers now expect to be on the move, searching for new employment,” said Mark Hamrick, Bankrate senior economic analyst and Washington bureau chief.

“Pandemic-inspired changes, including the ability to work remotely and/or from home, have transformed mindsets and expectations for many workers.”

Key takeaways

■ More than half (55%) of Americans in the workforce say they’re either somewhat or very likely to look for a new job in the next year.

■ Americans are prioritizing flexible work arrangements (56%), higher pay (53%) and job security (47%) in their careers due to the coronavirus pandemic.

■ More than two-fifths (41%) of Americans in the labor market expect to work remotely at least one day a week over the next year.

■ More than 1 in 5 (or 21%) of U.S. adults lost income or became unemployed during the pandemic.

■ When it comes to income levels, about 72% of those who earn under $30,000 per year are planning to look for a new job, compared with 44% of those who make $80,000 and more annually.

■ Meanwhile, nearly 7 in 10 Black and Hispanic Americans (or 67% each) plan to hunt for a new position, compared with 47% of whites.

That comes at a time when the number of Americans voluntarily quitting their jobs is near an all-time high for a third straight month, suggesting Americans are feeling more confidence in their career prospects following the worst unemployment crisis in a lifetime.

All of that points to continued challenges for employers in the months ahead, as they attempt to not only lure workers back to a job but also retain them.

When it comes to finding a new job during the coronavirus pandemic, experts recommend:

Leveraging your network and making new connections: Companies don’t always advertise what they have open.

Reach out to contacts who you’ve previously known at a professional level or leverage online job-search sites to meet new people in your industry.

Increase your skill sets: An area of expertise or specialty can help bolster your application, so that you stand out for your next opportunity.

Be persistent, and apply often: Don’t limit your opportunities by giving up.

In the meantime, you can’t go wrong with shoring up your finances by cutting back on your expenses, ramping up your emergency fund and working with any financial firms that you regularly pay a bill to on negotiating a forbearance plan if your wallet is still in tough shape.