The Great Resignation: 4.5 million workers quit in Nov

[tsptalk]

A record 4.5 million workers quit their jobs in November

KEY POINTS

A record 4.5 million workers quit their jobs in November, while job openings declined to 10.6 million.

Restaurant and health care workers were responsible for much of the surge in “quits.”

Manufacturing activity also expanded in December, but less than expected, according to the latest ISM report.

The question is why, and the answers are for starkly different reasons...

https://www.cnbc.com/2022/01/04/jol...-4point5-million-workers-quit-their-jobs.html

 

[Bquat]

It's not mentioned anywhere but there is a lot of working part time. They get text to their smartphones as to type of job and location and accept it or not. After the work they get pain by a Visa app. There are no benefits and no income reported. They can still get food stamps and aid by showing no income. The government has not discovered this workaround.

 

[Bullitt]

Good point Bquat, no way people are just walking away from it all. After a while, they'll eventually come back when boredom and a need to pay their cell phone bills shows up.

I don't believe this whole "great resignation". People may have temporarily left jobs they hated during the pandemic, but they were also able to collect increased unemployment and stimulus and that is no longer the case.

I like the term, "the great exaggeration" better. Employees have less and less bargaining power as the days go by and stimulus dries up. Unless you're a coder for Google or Apple, you have at best very little leverage on your employer.

Without a job, you have less negotiating power. For example, without a current job, you can’t leverage the possibility of a counteroffer to gain a higher salary. You could be out of work for three to six months—or longer. When you interview, hiring managers will question your judgment. They’ll be concerned that you are too impulsive and may leave their company over some minor trivial matter as well. When you start looking for a new job, they’ll ask why you left. What can you say? You can’t complain that the boss was a jerk because the hiring manager will believe you’ll badmouth her too.

https://www.forbes.com/sites/jackkelly/2021/06/08/why-the-great-resignation-is-greatly-exaggerated/