(NewsNation) — As the holidays approach, so does a seasonal hiring spike for companies nationwide. But quality longer-term jobs may be tougher to find over the holidays.
According to career expert Laura Gassen Otting, those looking to leave their job have several factors to consider. Gassen Otting joined NewsNation’s “Morning in America” on Sunday to discuss whether now is the right time for a work break.
“Quitting during the holidays can be a good idea if you’re in a position that is just unbearable, if it’s hurting your well-being, if it is crushing your soul,” Gassen Otting said. “But you have to do some thinking about whether or not this is just a temporary situation.”
However, if you do not have the requisite financial support to do so, it may make more sense to wait, even if your current situation is a challenge.
“I always say to job seekers, they should have six months of savings in the bank before they quit a job,” Gassen Otting said. “And those six months should be based on two numbers. There’s the want-to-make number, and then there’s the need-to-make number.
“So as long as you’re covering your need-to-make number for six months, that’s okay.”
Another key factor to consider is your prospects for landing the next job. There are some signs of uncertainty in the hiring pipeline.
During the first four months of 2024, applications for jobless benefits averaged just 213,000 a week before rising in May. They hit 250,000 in late July, supporting the notion that high interest rates were finally cooling a red-hot U.S. job market.
In October, the U.S. economy produced a meager 12,000 jobs, though economists pointed to recent strikes and hurricanes that left many workers temporarily off payrolls.
The Labor Department reported In August that the U.S. economy added 818,000 fewer jobs from April 2023 through March this year than were originally reported. The revised total was also considered evidence that the job market has been slowing steadily, compelling the Fed to start cutting interest rates as a way to stimulate new investment.
Gassen Otting says people should consider whether seasonal stress contributes to the desire to quit. She says limited long-term jobs available at the end of the year could lead an employee to jump into an even worse employment situation.
Rather than impulsively quitting, Gassen Otting suggests using the holidays to network at gatherings, prepare your resume and polish up your interview skills for the new year, when more quality job openings are likely to be available.
