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Raises, promotions are concerns for 44% of job seekers

Raises, promotions are concerns for 44% of job seekers

Amrita Ahuja
| August 7, 2024
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Amidst an unpredictable labor market, 44% of employed US job seekers fear not receiving the salary increase or raise they deserve at their current company, according to a survey by Express Employment Professionals.

Another major fear is that of losing their job before finding a new one, cited by 31% of job seekers. This is up from 28% in fall 2023 and 24% in spring 2023. 

 Top reasons employed job seekers are looking for a new job include:

  • To find/negotiate for better compensation, 46%
  • To find the work/life balance they want, 41%
  • To find better growth opportunities in their current industry, 41%

The survey also found that 53% of employed job seekers with at least a four-year degree and 41% with less than a four-year degree are seeking better compensation, while 36% of those with a four-year degree and 21% without keep an eye out on the job market.

Overall, 83% of employed job seekers are predominantly willing to accept full-time positions, 36% are seeking part-time positions and 27% are searching for contract/freelance positions.

The survey also noted that most unemployed American job seekers have been out of work for an extended period, with about 32% remaining unemployed for more than two years.

At 32%, needing to quit or quitting voluntarily emerged as the most common reason for remaining unemployed, followed by being laid off at 19% and being terminated or fired at 12%. 

Among those who needed to quit or quit voluntarily, 32% cited a physical, emotional or mental health condition, while 30% wanted to find a job with better or more pay.

The report noted that employed job seekers have worked at their company for an average of seven years, with 21% having been with their current employer for more than 10 years. Despite this, 55% of job seekers describe their current employment as having a job, and 45% describe it as having a career.

Express Employment Professionals define a job as work performed to earn money to support needs/wants and a career as a long-term occupation/profession that provides not only financial support for basic needs but also enjoyment and pride. 

Among generations, 74% of Gen Zers, 51% of millennials and 48% of Gen Xers describe their current employment as having a job.

“Every job serves a purpose and could be the first stepping stone on the path to a meaningful career,” Express Employment International CEO Bill Stoller said in a press release. “For those feeling unfulfilled in everyday duties, making positive changes starts today. With the widespread availability of online certifications and training, make the investment to reskill and turn your job into a career of fulfillment.”

The online survey includes responses from 1,002 US adults aged 18 and older. It was conducted by The Harris Poll on behalf of Express Employment Professionals from May 28 to June 10.