|
What Quitters Understand About the Job Market
h/t HotAir[The Atlantic] - Quitting your job is hot this summer. More Americans quit in May than any other month on record going back to the beginning of the century, according to the Bureau of Labor Statistics. For every 100 workers in hotels, restaurants, bars, and retailers, about five of them quit last month. Funemployment! Low-wage workers aren’t the only ones eyeing the door. In May, more than 700,000 workers in the bureau’s mostly white-collar category of "professional and business services" left their job—the highest monthly number ever. Across all sectors and occupations, four in 10 employees now say they’ve considered peacing out of their current place of work. Why the sudden burst of quitting? One general theory is that we’re living through a fundamental shift in the relationship between employees and bosses that could have profound implications for the future of work. Up and down the income ladder, workers have new reasons to tell their boss to shove it. Lower-wage workers who benefited from enhanced unemployment benefits throughout the pandemic may have returned to the job and realized they’re not being paid enough. Now they’re putting their foot down, forcing restaurants and clothing stores to fork over a higher wage to keep people on staff. ...Quitting gets a bad rap in life, as it’s associated with pessimism, laziness, and lack of confidence. In labor economics, however, quits signify the opposite: an optimism among workers about the future; an eagerness to do something new; and a confidence that if they jump ship, they won’t drown but rather just land on a better, richer boat. Posted by: g(r)omgoru 2021-06-22 |
| http://www.rantburg.com/poparticle.php?ID=605185 |