How Will the ‘Great Resignation’ Play Out As Millions Quit Their Jobs?
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2021-11-19
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Millions Have Quit Jobs, But How Long Will the "Great Resignation" Last?.
CNBC Newsreports the United States' so-called "Great Resignation" may have been a bit overstated.
In the last year, an alarming amount of Americans quit their jobs.
In September alone, more than 4.4 million people decided they'd had enough.
Experts say workers are dissatisfied with lack of quality wages and working conditions.
These resignations left corporations holding the bag, forcing many to re-adjust incentives to keep more employees from leaving.
US Labor Department research shows while workers quit in record numbers in September, companies also hired nearly 6.5 million new employees.
Some economists saythis trend is more attributed to Covid-related hesitation.
We believe that this resignation dynamic is mostly a symptom of other underlying forces that are affecting labor market participation, rather than a cause. Jonathan Millar, deputy cheif economist Barclays, via CNBC.
In the last year, overall wages have risen 4.9%.
Some say these higher wages are evidence of an empowered workforce.
Others believe this economic backdrop may result in corporations further turning to automation.
This will be an important trend to watch as it will shape labor markets over the long-term given that automation, once installed, is simply never reversed. Jessica Rabe, co-founder DataTrek Research, via CNBC
CNBC Newsreports the United States' so-called "Great Resignation" may have been a bit overstated.
In the last year, an alarming amount of Americans quit their jobs.
In September alone, more than 4.4 million people decided they'd had enough.
Experts say workers are dissatisfied with lack of quality wages and working conditions.
These resignations left corporations holding the bag, forcing many to re-adjust incentives to keep more employees from leaving.
US Labor Department research shows while workers quit in record numbers in September, companies also hired nearly 6.5 million new employees.
Some economists saythis trend is more attributed to Covid-related hesitation.
We believe that this resignation dynamic is mostly a symptom of other underlying forces that are affecting labor market participation, rather than a cause. Jonathan Millar, deputy cheif economist Barclays, via CNBC.
In the last year, overall wages have risen 4.9%.
Some say these higher wages are evidence of an empowered workforce.
Others believe this economic backdrop may result in corporations further turning to automation.
This will be an important trend to watch as it will shape labor markets over the long-term given that automation, once installed, is simply never reversed. Jessica Rabe, co-founder DataTrek Research, via CNBC
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