Workers Find They Are In Short Supply, Many Up And Quit.

Workers are discovering new found power in the worker/employer dynamic which has caused a record number to leave their jobs for greener pastures. (Washington Post)

help wanted sign
The number of people quitting their jobs has surged to record highs, pushed by a combination of factors that include Americans sensing ample opportunity and better pay elsewhere.

Some 4.3 million people quit jobs in August — about 2.9 percent of the workforce, according to new data released Tuesday from the Labor Department. Those numbers are up from the previous record, set in April, of about 4 million people quitting, reflecting how the pandemic has continued to jolt workers’ mind-set about their jobs and their lives.
— By Eli Rosenberg, Abha Bhattarai and Andrew Van Dam, 'Washington Post'

The US worker is in short supply like almost never before and they know it. Many are deciding their current jobs are just not worth the pay and are leaving them in record numbers. This new worker scarcity could cause long term wage increases across broad spectrums of the economy. Or the wage increases and worker scarcity could be short term and things could return to ‘normal’ after the pandemic is finally under control. Time will tell if the gains are permanent but if they are more long term then income inequality in America will be lessened to a significant degree.

Previous
Previous

Fully Vaxed International Travelers Can Return Nov.8.

Next
Next

85% Of World’s Population Will Be Impacted By Climate Change.