A new study shows that 2022 was a banner year for happy workers—as remote and hybrid options gave greater freedom and improved company cultures.
Key Details
- A new Conference Board survey shows that 62.3% of Americans are satisfied with their jobs, the highest percentage since 1987.
- The number had previously bottomed out in 2010 during the financial crisis at 42.6% before slowly increasing.
- Survey respondents say that they are generally happy with their commutes, co-workers, physical workplace, and job security, The Wall Street Journal reports.
- The number has seen notable increases in the past two years, from 56.8% in 2020, due to the effects of labor shortages having a positive effect on wages and remote work options.
- Female workers came in slightly behind male workers in job security, with 61.8% happy compared to 68.7%.
Why It’s Important
As we previously reported, the economy is changing. Company cultures are evolving to meet the times, and remote working conditions statistically increase productivity, lower commutes, and increase worker happiness. Employees unhappy with their working conditions and benefits were empowered to embrace “the Great Resignation,” which sparked a widespread movement of workers seeking better work opportunities, forcing many companies to offer more lenient benefits.
“Among the happiest workers: people who voluntarily switched jobs during the pandemic and individuals working in hybrid roles with a mix of in-person and remote work,” The Wall Street Journal reports.
The Problem
However, these happiness numbers may only last for last year. High-interest rates and high inflation are having negative effects on the economy, and many analysts are predicting a slowing economy for the remainder of the year, particularly if the U.S. defaults on its debt obligations amid its current debt ceiling debate.
Declining opportunities in the job market could raise anxieties and force employees to remain in their current jobs, regardless of whether they are happy or not.
“Once unemployment goes up, once we hit a recession, there will be fewer people changing jobs they were unhappy with,” says Conference Board economist Selcuk Eren, who also notes that worker satisfaction hit record lows in the aftermath of similar market conditions in 2010.
