The 'resignation equation' driving employees to quit: 5 economic stories to read this week

Aug 12, 2022

5 factors that drive employees to quit; The Eurozone’s economic outlook - these are the latest economic stories. Image: Unsplash/ Annie Spratt

Chinmay Jadhav

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This weekly round-up brings you key economic stories from the past seven days.
Top stories: 5 factors that drive employees to quit; The Eurozone’s economic outlook; State of the job market in OECD countries; Why the 4-day week might not work; How foreign currency reserves can help combat the global economic crisis.

1. The ‘resignation equation’: 5 factors that drive employees to quit

A fifth of workers say they are extremely or very likely to quit their jobs in 2022, according to a global PwC survey. This trend is being driven by 5 key factors – the so-called ‘resignation equation’.

These factors include people not finding a job fulfilling, not feeling they can be their true selves at work and not feeling that their team cares about them. So, what can companies do to attract and retain their staff?

Find out more about the ‘resignation equation’.

Reasons why workers are likely to resign. economic stories

Job fulfilment is a key issue behind workers deciding to quit. Image: PwC

2. The Eurozone’s economic outlook in 3 charts

Global economic growth will slow to 3.2% this year from 6.1% in 2021, the IMF predicts. This is caused by supply chain disruptions that are leading to soaring inflation and a cost-of-living crisis around the world.

The rising cost of living, driven by the war in Ukraine, is having a particular impact on Europe's economy.

This article – drawing on data from the European Commission’s Eurostat office – provides a snapshot of the economic outlook in the Eurozone and wider EU.

Learn more about the Eurozone's economy.

Global economic growth will slow to 3.2% this year from 6.1% in 2021, the IMF predicts. Image: Eurostat

3. 3 charts that show the state of the job market in OECD countries

The OECD’s members span Europe, the Americas and the Pacific and include countries from Australia to Chile, Israel and the United States.

Now, two-thirds of OECD countries say unemployment is “below or equal to” pre-pandemic levels and unemployment across the 38 OECD member states stabilized at 5% in May 2022.

Read this article for a data-rich dive into OECD employment levels – and what the data could mean for the global economy.

Database showing unemployment rates in OCED total, Euro area, United States and Japan. economic stories

Unemployment is steadying across the OECD. Image: OCED.

4. The four-day work week may be too good to be true

The four-day working week continues to gain momentum, with pilots taking place in the UK, Ireland, US, Canada and Australia.

Have you read?

But is this too good to be true? While many firms may find it a better arrangement than a five-day working week, this article makes a case for why the concept needs further research and debate before we talk seriously about rolling it out.

Read more about the 5 main reasons the four-day week needs more thought.

5. What are foreign currency reserves and can they help combat the global economic crisis?

In the face of escalating energy prices and supply chain issues, developing countries are looking to shore up their foreign currency reserves.

But what are foreign currency reserves? And what role do they play in promoting economic stability?

Read this article to find out more about this topic.

Can large foreign currency reserves help combat the global economic crisis? Image: Statista

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