After several years of favorable conditions for workers, with many job-hopping for better pay and benefits, the economy is once again an employer’s market. Despite that, nearly half (48 percent) of those working full-time or looking for full-time employment say they’re likely to search for a new job in the next 12 months, according to Bankrate’s new Worker Intentions Survey.
Workers today are facing a complex job market. On one hand, total nonfarm payroll employment (which includes most part-time and full-time workers) rose by 147,000 jobs in June, roughly similar to the average monthly job gain over the past year and mostly in state government or health care, and the unemployment rate has been stagnant at 4.1 percent, according to the U.S. Bureau of Labor Statistics. On the other hand, the number of long-term unemployed people (those unemployed for 27 weeks or more) increased by 190,000. Most other major industries, from construction to professional and business services, had limited new openings in June. This has been especially stressful for new graduates, who are currently experiencing a higher unemployment rate than the general population.
The combination of low unemployment and limited openings for most industries has led to a trend called the “Great Stay,” where workers are mostly staying put at their current roles.
This is as volatile and dynamic a time as we’ve witnessed, including for employers and workers.
— Mark Hamrick, Bankrate Senior Economic Analyst
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Workers commonly want to look for a new job, ask for a raise
Sometimes, a more challenging job market can make people more cautious about asking for raises or additional flexibility at work, in an effort not to rock the boat. However, that isn’t currently stopping many workers from looking for more from their current roles. More than 2 in 5 (44 percent) workers say they’re likely to ask for a raise at work in the next year.
“As the job market has normalized following the period a few years ago when it was widely described as red-hot, many workers are seeking better pay or new work,” Bankrate Senior Economic Analyst Mark Hamrick says.
Additionally, 36 percent say they’re likely to ask for more workplace flexibility (such as different hours or the ability to work from home/remotely more often). As employers bring workers back to the office post-COVID-19, that percentage is down from last year, when 42 percent of people planned to ask for more workplace flexibility. Separately,18 percent say they’re likely to relocate for a job in the next year.
As workers report having difficulty finding new roles, some actually plan to leave their job. While nearly half of workers say they plan to look for a new job, only 18 percent of workers say they’re likely to quit a job in the next year, down from 25 percent in 2024.
Other workers are looking to leave the rat race altogether. AI is making it easier than ever to start your own business, and white-collar jobs are becoming harder to get. Now, one-quarter (25 percent) of workers say they plan to start their own business in the next year:
Source: Bankrate’s Worker Intentions Survey, June 6-16, 2025
Note: Percentages are of people who are employed or looking for employment
Gen Z workers (ages 18-28) are the most likely generation to look for a new role in the next year. More than half (53 percent) of Gen Z workers are likely to search for a new job, compared to 49 percent of millennial workers (ages 29-44), 48 percent of Gen X workers (ages 45-60) and 1 in 4 baby boomer workers (ages 61-79).
Additionally, nearly one-quarter of Gen Z workers say they’re likely to quit a job in the next year, more than any other generation:
- Gen Z workers: 23 percent
- Millennial workers: 17 percent
- Gen X workers: 16 percent
- Baby boomer workers: 1 in 10
Gen Z and millennial workers are also likeliest to say they are likely to start their own business in the next year:
- Gen Z workers: 31 percent
- Millennial workers: 30 percent
- Gen X workers: 19 percent
- Baby boomer workers: 1 in 10
Also, a majority of Gen Z and millennial workers say they’re likely to ask for a raise at work in the next year:
- Gen Z workers: 51 percent
- Millennial workers: 50 percent
- Gen X workers: 39 percent
- Baby boomer workers: 1 in 5
Notably, among different income brackets, workers making under $50,000 per year are likelier than people in higher income brackets to search for a new job in the next year:
- Workers making under $50,000 per year: 58 percent
- Workers making between $50,000-$79,999 per year: 47 percent
- Workers making between $80,000-$99,999 per year: 29 percent
- Workers making $100,000 per year or more: 41 percent
A small percentage of workers say their job situation has worsened this year
Regardless of whether they’re ready to jump ship, the majority (65 percent) of workers say their employment or career situation is about the same as it was in the beginning of 2025. Though 2025 is proving challenging for many workers, this trend has persisted for a while. In 2024, 57 percent of workers said their employment/career situation was about the same compared to when the Federal Reserve started raising interest rates in March 2022.
One in five (22 percent) say their employment or career situation has improved in 2025, and 14 percent say it’s worsened:
Source: Bankrate’s Worker Intentions Survey, June 6-16, 2025
Note: Percentages are of people who are employed or looking for employment
Among workers of different political affiliations, Republicans are the likeliest (27 percent) to say their employment/career situation has improved, compared to 22 percent of Democrats and 19 percent of Independents. Meanwhile, 16 percent of Independents, 13 percent of Democrats and 9 percent of Republicans say their employment/career situation has worsened.
Millennials are the most likely to feel increasingly worried about their job security
Despite recent news of layoffs and a difficult job market for white-collar workers, the majority of workers aren’t more worried about their job security now. About 1 in 4 (27 percent) workers are more worried about their job security since the beginning of the year. Another 42 percent of workers say their level of worry about job security hasn’t changed since the beginning of the year, and 15 percent say they’re less worried about their job security. Sixteen percent of workers say they’ve never been worried about their job security:
Source: Bankrate’s Worker Intentions Survey, June 6-16, 2025
Note: Percentages are of people who are employed or looking for employment
Of all generations, millennials are the likeliest to say they’re more worried about their job security now compared to the beginning of the year:
- Gen Z workers: 24 percent
- Millennial workers: 33 percent
- Gen X workers: 24 percent
- Baby boomer workers: 1 in 5
Along party lines, Democrats and Independents are more worried about their job security than Republicans:
- Democrats: 31 percent
- Independents: 31 percent
- Republicans: 17 percent
3 tips when looking for a new role in today’s challenging job market
Today’s job market isn’t ideal for looking for a new role. But whether you’re looking for a higher salary, better work-life balance or if you’re just worried about your job security, there’s a few things you can do to prepare for a job hunt.
“Most forecasters see inflation picking up and the job market weakening modestly over the next year,” Hamrick says. “In any case, it is prudent for workers to keep their skills sharpened and their contacts activated. If one plans to look for work in the coming months or is forced into that situation by unemployment, these proactive steps should make for an easier transition.”
1. Boost your savings
Before making any large life change, like starting a new job, it’s important to make sure your finances — especially your savings — are up to snuff. Traditionally, a well-stocked emergency savings fund might have three to six months of expenses in it, but as more workers are unemployed for six months or more, you might want to consider keeping more than six months of expenses saved. This is also a smart move if you’re concerned about your job security — the more money you have saved for emergencies, the more secure you may feel.
There are a few things you can do to increase the amount you save each month:
- Create a budget, or update your budget if you haven’t touched it in a while.
- Review your spending habits for unwanted expenses and places where you can cut back. See if you can cut $50 to $100 of spending per month by cutting back on unused subscriptions, cooking more at home or renegotiating your bills.
- Set a savings goal with a specific time period and amount, such as $5,000 in a year. This will help hold you accountable.
- Automate your savings by setting a recurring transfer every time you’re paid.
- Keep your savings in a high-yield savings account, which will earn more interest than a traditional savings account, essentially offering a free boost to your savings.
2. Understand your strengths as a job candidate to help you negotiate
Job interviews are an exercise in marketing yourself. Before starting the interview process, write down three soft skills and three hard skills you bring to the table — include these in your resume, too. Soft skills could be communication, leadership, conflict management, teamwork, problem-solving or time management. Hard skills, on the other hand, could be any technical skills or certifications and degrees you’ve earned. Also, in your resume and in your interviews,note tangible accomplishments from the past few years. These could be new initiatives you’ve started, financial targets that you’ve met, ways you’ve optimized your work or other accomplishments.
Understanding your skills will help you be able to better negotiate when it’s time to discuss salary and benefits, either when asking for a promotion at your current role or when you’re looking for your next job. Even if it’s an employer’s job market, you should still advocate for equitable pay and benefits. Ask for what you deserve.
“Between the moves by the federal government, rapid advances in technology including artificial intelligence, and the changing global landscape, there is a high level of uncertainty but also plenty of opportunities,” Hamrick says. “Workers with the right skill sets and can-do attitudes will be in the best position to win.”
3. Connect with your network
If there were ever a time to go through that pile of business cards in the bottom of your desk drawer, now’s it. Your network, whether that’s connections on LinkedIn, former employers and colleagues, fellow college alumni or others in your community, are a great resource when looking for a new role. If you’re looking for your next job, label yourself as “Open to Work” on LinkedIn and prioritize growing your network by reaching out to former colleagues or attending local networking events.
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