American workforce quits job and migrates to cryptocurrencies

Civic Science conducted a study involving 6,741 citizens over the age of 18 that found that 4 % of the US workforce “quit their job because they found financial freedom with crypto.”

While 11 % of the general population surveyed stated “having personally quit their jobs or know someone who has, as a result of their investments in cryptocurrencies”. It shows that some people are choosing to separate from formal jobs once they get better dividends with the investments made in the crypto ecosystem.

The firm responsible for the study did not provide any information on the percentages or amounts of profit generated by the investments in cryptocurrencies of the people who participated in the research, nor on the precise meaning of “financial freedom.” However, in previous studies the company provides more information on these types of variables.

By correlating the information from the survey carried out in mid-October of this year with the study carried out previously, where 1,201 people participated, it is shown that most of the people who quit their jobs, as a result of their investments in crypto assets are workers, belongs to the lowest strata in the income structure of organizations.

The analysis of the data shows that 64 % earned less than $ 50,000 annually, of which “27 % said they earned less than 25,000, while 37 % had a total annual income of between 25,000 and 50,000 dollars”. The percentage of resignations is gradually reduced in those sectors where incomes are higher.

According to Civic Science, investments in digital assets can generate income that impacts the quality of life of those investors who are part of the less paid working class, while those workers who obtain higher wages for their work, consider cryptocurrencies a “diversification of assets instead of a source of income.”

The great resignation

The United States is experiencing a strong and important crisis with its workforce, because every day more people do not want to go back to their formal work. The US Bureau of Labor Statistics reported that “3 million people have quit their jobs in recent months, which is equivalent to 2.9 % of the workforce and the fact has been called the” great resignation.”

Analysts consider that this phenomenon is a consequence of the pandemic. However, this new study could bring indications about what is really happening or underlying the labor crisis in the United States.

Another study carried out by Bloomberg, in which 10 unemployed people participated, highlights that workers refuse to return to their formal hours mainly due to low wages, which are lower than those received before the pandemic and to poor working conditions such as absence of sanitary protection measures to avoid Covid-19.

M. Rodríguez

Source: diariobitcoin.com