Re:How Great Is the Great Resignation? A Primer on Labor Tur...
by kant_adorn_arts on Wednesday February 09, 2022 @06:26PM
(#30280242)
Thank you for the numbers. To me it looks that there is not really a 'great resignation'.
Re:How Great Is the Great Resignation? A Primer on Labor Tur...
by data_dan_ on Wednesday February 09, 2022 @06:48PM
(#30280517)
To me it just looks like it's too early to tell. Did quits go up very quickly in 2021? Sure! But that comes on the heels of a massive spike in layoffs that occurred in 2020. It is at least a possibility that the current situation is a response to that.
One point I didn't go into is the fact that the labor force participation rate also dropped steeply in 2020 and hasn't recovered to pre-pandemic levels yet. So that could create labor shortages that are not necessarily represented in the quits rate.
I think the most interesting part is the decrease in layoffs that coincided with the increase in quits. People aren't leaving that much more than before, but when they leave, they're doing so on their own terms.