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June 2022
With a record number of job openings in recent months, employers facing increased competition for top talent have begun offering higher pay, increased benefits, and greater flexibility to attract qualified applicants.
These incentives have resulted in millions of people thinking about quitting their current job for better pay, a new career, or the ability to work from home.
But the number of people thinking about changing jobs varies by state. Wealthtender conducted research to rank the 50 states and the District of Columbia based on a review of online search terms frequently used by people ready to leave their current job for greener pastures.
Main Findings
A higher Job Search Score in the table below indicates a greater percentage of residents in a particular state looking for a new job compared to a state with a lower score.
With a Job Search Score of 88.80, Mississippi ranks highest with the greatest percentage of its population interested in leaving their current employer to start a new job than any other state. On the other hand, people living in Washington, D.C. appear to be most satisfied in their current roles.
| wdt_ID | Rank | State | Job Search Score |
|---|---|---|---|
| 1 | 1 | Mississippi | 88.80 |
| 2 | 2 | Georgia | 79.95 |
| 3 | 3 | Montana | 77.00 |
| 4 | 4 | South Carolina | 76.90 |
| 5 | 5 | North Carolina | 76.50 |
| 6 | 6 | Arkansas | 76.45 |
| 7 | 7 | Colorado | 76.25 |
| 8 | 8 | Michigan | 76.05 |
| 9 | 9 | Rhode Island | 75.85 |
| 10 | 10 | Tennessee | 75.65 |
| 11 | 11 | Arizona | 75.30 |
| 12 | 12 | Indiana | 74.85 |
| 13 | 13 | Nevada | 74.65 |
| 14 | 14 | Florida | 74.10 |
| 15 | 15 | Iowa | 73.60 |
| 16 | 16 | Ohio | 73.10 |
| 17 | 17 | Alabama | 72.95 |
| 18 | 18 | Missouri | 72.95 |
| 19 | 19 | Kentucky | 72.50 |
| 20 | 20 | Oklahoma | 71.00 |
| 21 | 21 | Wisconsin | 70.85 |
| 22 | 22 | Idaho | 70.15 |
| 23 | 23 | Pennsylvania | 69.60 |
| 24 | 24 | Minnesota | 68.45 |
| 25 | 25 | Texas | 68.20 |
| 26 | 26 | Kansas | 68.00 |
| 27 | 27 | Delaware | 67.75 |
| 28 | 28 | California | 67.15 |
| 29 | 29 | Virginia | 66.50 |
| 30 | 30 | Louisiana | 66.50 |
| 31 | 31 | Oregon | 66.30 |
| 32 | 32 | Connecticut | 66.05 |
| 33 | 33 | Vermont | 65.60 |
| 34 | 34 | Illinois | 65.25 |
| 35 | 35 | Maine | 65.00 |
| 36 | 36 | Maryland | 64.80 |
| 37 | 37 | Washington | 63.85 |
| 38 | 38 | Utah | 62.10 |
| 39 | 39 | New Mexico | 61.00 |
| 40 | 40 | Wyoming | 60.80 |
| 41 | 41 | New Hampshire | 60.55 |
| 42 | 42 | New Jersey | 59.65 |
| 43 | 43 | South Dakota | 59.20 |
| 44 | 44 | North Dakota | 58.25 |
| 45 | 45 | Nebraska | 57.20 |
| 46 | 46 | West Virginia | 57.05 |
| 47 | 47 | Massachusetts | 56.95 |
| 48 | 48 | New York | 53.00 |
| 49 | 49 | Alaska | 49.00 |
| 50 | 50 | Hawaii | 48.55 |
| 51 | 51 | District of Columbia | 47.45 |
Ask the Experts
We asked financial advisors in the Wealthtender community to share their recommendations for job changers to consider both before quitting their current job and upon getting hired by their new employer. Click the Read More links below to view their expert insights.
Consider and evaluate any unvested 401k match, stock options, or restricted stock units before leaving a company. You may be leaving funds on the table. Also, if you are leaving a position with a non-qualified deferred compensation plan, it may become 100% taxable upon leaving. Talk to your advisor about how this job change may impact your overall financial plan.
Emily Rassam, Senior Financial Planner, Archer Investment Management
If you have a Flexible Spending Account (FSA) take time to use up your elected contributions for the year since they are use-it-or-lose-it. You can buy anything at the FSA Store including sunscreen, menstrual products, and first aid. Typically employers provide a 1-2 week grace period after leaving to use up your FSA dollars — double check your employer’s rules. If you have a Health Savings Account instead, these funds stay with you or can even be rolled over to a new employer if you will continue to be using a High Deductible Health Care Plan (HDHP).
Note how much you contributed so far to your 401(k) retirement plan. If you’re trying to max out for the year take care not to over contribute. The max for the year, no matter how many employers you had is $20,500.
It’s a great time to review your W-4 elections. Don’t assume that what you used in the past will be the best option for you at your new job and new salary. Use the IRS tax withholding calculator online (https://apps.irs.gov/app/tax-withholding-estimator) to figure out how best to fill out your W-4. It could also be a good time to ask your accountant or financial advisor for help adjusting withholdings.
Cady North, CFP®, CEO, North Financial Advisors
BEFORE quitting their current job, what actions do you recommend people take?
Develop an income plan to determine how long you have before your cash is depleted. The last thing you want to do is invade your retirement accounts prematurely to pay the bills. You would likely incur taxes and penalties and potentially jeopardize your retirement goals. You also want to review your health insurance options to avoid any gaps in coverage. Incurring a major medical expense without coverage could be catastrophic to your financial plan.
At the outset of STARTING their new job, what actions do you recommend people take?
Conduct a thorough review of your new benefits plan. Do they offer a high deductible health insurance plan? If you’re in good health and can pay the deductible from savings, you can save money on premiums and contribute towards a health savings account. These accounts offer many tax benefits and often receive employer contributions. Does your new company offer a match on retirement contributions? You will want to contribute up to the company match to capture that “free” money and even consider a Roth 401(k) if offered and warranted based on your tax situation.
Brett Tushingham CFP®, Founder of Tushingham Wealth Strategies
Methodology
To rank the states and the District of Columbia, Wealthtender considered the rate at which people conducted online searches for indicative terms used by active job seekers over the year-to-date period through May 15, 2022. We then used these metrics to rank-order each state from highest to lowest calculated upon a weighted average of search terms as follows:
- “indeed” (job search website): 40% Weight
- “resume templates”: 25% Weight
- “quit job”: 20% Weight
- “remote jobs”: 20% Weight
Sources: Data used to create this ranking were obtained using Google Trends for the period of January 1 to May 15, 2022. View source data.
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About the Author
About the Author
Brian Thorp
Brian is CEO and founder of Wealthtender and Editor-in-Chief. He and his wife live in Austin, Texas. With over 25 years in the financial services industry, Brian is applying his experience and passion at Wealthtender to help more people enjoy life with less money stress. Learn More about Brian
To make Wealthtender free for readers, we earn money from advertisers, including financial professionals and firms that pay to be featured. This creates a conflict of interest when we favor their promotion over others. Read our editorial policy and terms of service to learn more. Wealthtender is not a client of these financial services providers.
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