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.