13 May 2024|News archive
Highly Skilled Specialist Jobs Most Likely to Be Fired, According to New Research
Over 4.6 million members of the professional and business services (PBS) industry were fired from their jobs in 2023, over two times more than any other industry, according to new research.
As reported by the Bureau of Labor Statistics, PBS includes highly skilled workers in business infrastructure and support roles, including accountants, architects, advertisers, lawyers, financial managers, and consultants, among others.
The end of the great resignation and pandemic-era hiring practices led to large companies like Amazon, Google, and Meta laying off tens of thousands of workers in 2023, many of whom were in business support roles, such as advertisers and human resources personnel.
New analysis by TollFreeForwarding.com has revealed that PBS had a termination rate of 1.7% last year, the third-worst rate of all industries.
Following PBS, the industries with the most terminations in 2023 were construction (2 million), accommodation and food services (1.9 million), and retail (1.8 million). Industries with the fewest firings include mining and logging (82,000), the federal government (86,000), and real estate (266,000).
The industries with the most and fewest firings are as follows:
Industries With the Most Terminations
Industry
Terminations in 2023
Termination Rate
Professional & Business Services
4,662,000
1.7
Construction
2,075,000
2.2
Accommodation & Food Services
1,954,000
1.2
Retail Trade
1,874,000
1
Healthcare & Social Assistance
1,731,000
0.7
Industries With the Fewest Terminations
Industry
Terminations in 2023
Termination Rate
Mining & Logging
82,000
1.1
Federal Government
86,000
0.2
Real Estate, Rental & Leasing
266,000
0.9
Private Educational Services
331,000
0.7
Finance & Insurance
333,000
0.4
TollFreeForwarding.com also looked into the most common reasons for terminating employees. According to one poll, which asked managers for the reason they last fired an employee, the most common reasons for termination include:
Attitude issues – 57%
Personality issues – 41%
Job performance – 40%
Violation of company policies – 31%
Requested a raise – 23%
For more information on the industries with the most terminations, visit TollFreeForwarding.com.
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