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More and more people are leaving their jobs because of TikTok

According to Morgan Stanley, experts expected that as the epidemic subsided and employers became more flexible, employees would return to their old lifestyles, but the new survey, which included 12,500 people, showed a completely different pattern.

A prolonged labor shortage is hampering the economic recovery of European countries, and wage inflation will continue if the rate of layoffs, which has already accelerated in the wake of the virus, does not slow.

One in three Europeans surveyed said they actually earn some money on various social media platforms, such as content produced on TikTok or merchandise sold on exchanges, but there were also those who traded in NFTs. One in ten participants will quit their job to do so full time.

The trend is mainly strong among educated workers, particularly in the IT, engineering, finance and manufacturing sectors.

Generation Y members were more inclined towards new forms of making money online, while Generation Z members were more conservative. Those with an income of 40,000 euros per year were the most likely to turn to these opportunities.

Subjects from Germany, Spain, France, the United Kingdom and Italy were interviewed for the research, which was launched in early November. By country, most people in Germany and UK wanted to quit their jobs, In addition, 80 percent of them work full time and the majority are in the 23-34 age group.

This trend could also have macroeconomic consequences, but Morgan Stanley says it will raise stock prices for companies that primarily provide staffing services, such as Papergroup Plc and Hays Plc.

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(Bloomberg)