RECORD 4.3 million Americans Quit their job in August.

4.3 million workers quit their jobs in August this year led by 892,000 in the food related businesses of bars and restaurants, 721,000 in the retail sales businesses and 534,000 in the healthcare and social assistance sectors. The 4.3 million workers represent 2.9% of our nations total workforce at the time which surpassed the prior high rate set in December 2000. These high resignations reflect the current extremely high jobs available today which total almost 11 million, giving people the confidence to quit and to seek a better job.

 

a good example of the free enterprise theory of supply and demand.

 

I saw that story the other day too. Good to see workers having some leverage. It's going to translate to wage inflation.......also a good thing.

 

Actually what they suggest is that a lot of people aren't interested in following Biden's dopey mandate.

 

Ah yes. Now inflation is a good thing. Go figure.

 

Yes, rising wages-- not of CEOs, but of people who have been now long left behind, as their businesses have become more profitable-- IS a good thing.

But I had not read about this elsewhere and, as I began reading @61falcon 's OP, I assumed the reason was the same as was later mentioned by @garyd ; that is, noticing that the list included both food industry & healthcare workers, I'd assumed their quitting related to vaccine mandates (retail workers might also be subject to employer mandates, especially as many of these businesses have over 100 workers).

Or maybe it is a combination of both of these causes? Did you link the article, Falcon, that I am just not seeing?

 

And as the wages rise, the product prices do too... so perhaps, finally, some people will see the 'wage increase with no production increase' results. I spell it out, because some people deny it exists.

 

IMO, it's more than just the two factors you mentioned. Some people in each of these 'face to face' exposure jobs are taking a safety route of eliminating that exposure.

The overwhelming nastiness of people has been highlighted in the hospitality industry, and I'm sure it exists in the healthcare sector also. Being treated as 'less than' can wear even the most even tempered down, regardless of vaccination status or political position.

 

Inflation is a bad thing every time. Wage increases are a part of the problem. They help a little but the rate of wage increase is below that of the price increases. the Whole thing starts with government spending money it doesn't have. Wage increases happen along the way with price increases.

 

I can see your point. But, as a former waiter, I know that dealing with unpleasant people has always been a part of that occupation (which has also always had a high job turnover rate). So, for waiters, this departure may have more to do with economics, if business has not sufficiently returned, to supply the tips that are the majority of their earnings.

As for hospital workers, I think they are largely a special breed of caring people; I was surprised to see, when I recently brought my mother in to the E.R., which turned into a short stay at the hospital, how upbeat and cheerful the nurses, especially, were. And even the doctors were not showing any signs of stress. (Unless this is a result of my corner of Connecticut, just above NYC, not being hit as hard as some other parts of the country?)

 

Spoken like a true Industrialist, of a century ago. I disagree with your unproven assertion, that if wages rise, that will be more than offset by rising prices. More money in the hands of consumers will fuel the competition that will keep prices down (to speak your economic language). A rising tide, lifts all boats.

 

Perhaps full service restaurants are not getting the abusive customers, but limited service restaurants certainly are. There have always been the occasional AH, but it's become more and more common, several local eateries have had to call cops to have people removed it got so bad.

Other than a short span of time, we have been open for business and been slammed since February of 2020. We can't find enough staff. We've been poaching (and been poached) as much as ethics will allow, yet the available labor pool is dwindling.

I have not had any recent visits to hospitals, but a family member who is retired from the medical field says the reports are that a combination of vaccination falderall, exposure concerns, and overall fatigue have taken it's toll.

I'm an ex-pat NJ, below the Mason Dixon line and happy for it.

 

Must be nice people can afford to quit first and then try looking for a job.

 

It would appear that those who had to met the general public in the performance of their job duties are probably sick of the confrontations they faced telling the public to mask up and then being attacked for it as the airline employees also are.

 

Assumptions, everyone has them.

 

I understand why you often fail to provide links

Lets go brandon! Fear monger more DNC? The more they vaccinate the more they spread the fear of covid..

Lemme know if you need me to search and link for you again

 

Wage inflation just leads to price inflation.

 

No one minded as during the past forty years as CEO's and executive salaries were raised by tens of millions of dollars, now that it's finally trickling down to rank and file workers it's inflationary??????

 

The number of Americans filing for unemployment fell to below 300,000 for the first time since March 20020 last week.

 

according to online news many of those quitting claim they want to start their own businesses.

 

Deere employs striking citing the outrageously high salary raises given to the CEO and Execs, while they are offered a pittance and reduced benefits.

 

The vast majority of those quitting now are seeking jobs with better pay and BENEFITS.

 

I don't quite understand your logic, here. Firstly, a disinterest in being over-exposed to Covid, could hardly be seen as an irrational fear, resulting from either, "fear mongering," or increased vaccination. If anything, it would be fear, based on the resistance of so many, to getting vaccinated; can you not see the logic of this?

But, actually, your clip does not even cite fear as the cause, in the increased quitting. @61falcon had initially attributed this phenomenon to a surplus availability of jobs, allowing people to trade-up to positions with better pay, benefits, and perhaps less Covid exposure, to boot. He later added something that I had previously heard, that more people than ever are trying to start their own businesses.

Just to put this correction of my own posting, into the thread: I had imagined the possibility that a good part of the quitting may have been due to people not wishing to comply with vaccine mandates; but, according to MSNBC's Joe Scarborough, all the threats of those to quit, were they to be required to get vaccinated, turned out to be only so much hot air.

 

Then why don't they seek a better job?

The labor participation rate dropped by around 1.7% at the beginning of the pandemic. It has not recovered. That 1.7% are neither working or looking for work.
Civilian labor force participation rate (bls.gov)

It irritates the hell out of me when Penske brags about the low unemployment rate, but ignores the low labor participation rate at the press does not even mention it.

 

Better that way!