Jesse Jones: Bankrate survey says workers will look for new opportunities in a changing job market

In a slowing but steady job market, workers are seeking new opportunities.

While unemployment numbers are cooling, many American workers say they’ll be looking for a new job this year. According to a new Bankrate survey, almost half of American workers will look for a new job next year.

Bankrate analyst Mark Hamrick says, “I think it’s a real testament to the ambitions of Americans that nearly half of the workers we surveyed say they plan to look for a new job in the next year. Not all of them will find new employment, but they’re really seeking some degree of improvement in their lives, whether it’s through higher pay, or more flexible work conditions.”

According to the Bankrate survey, 64 percent of Gen-Z workers say they’ll be job hunting this year.

“The ambitions of the workers. Expressing their hopes in our survey are underscored by the fact that 70% of them tell us that they have some worry about their job security. And, you know, this is not your father’s or mother’s or grandfather’s workforce in the sense that most of us are employed at will. The idea of lifetime employment with a single employer is largely an antiquated idea”, Hamrick says.

Bankrate offers three tips to manage your job situation.

First, lean on your network. Reach out and learn from the people you know about new opportunities in the market.

Secondly, work on your emergency fund. Saving three to six months’ worth of expenses is a good target.

Finally, always negotiate for higher pay. It’s especially tough to do these days and in this economy, but always think about increasing your worth.

Hamrick also wanted to point out that 29 percent of those in the survey and 41 percent of Gen Z plan to start a business in the next year.

“I think if you think about the U.S. economy historically, but also in modern times, one of the real recipes for success has been innovation and entrepreneurism. That’s a tremendous opportunity not only for them to retain their own capital, to be their own bosses, but perhaps to be the next midsize or very large company. That’s going to be a real success story in the future,” says Hamrick.