Monday, April 18, 2022

The record percentage of workers who are quitting their jobs, known as the “Great Resignation,” is not a shift in worker attitudes due to the pandemic: Waves of job quits have occurred during all fast recoveries in the postwar period

“Great Resignations” Are Common During Fast Recoveries. Bart Hobijn. Federal Reserve Bank of San Francisco's Economic Letters 2022-08, Apr 2022. https://www.frbsf.org/economic-research/publications/economic-letter/2022/april/great-resignations-are-common-during-fast-recoveries/

The record percentage of workers who are quitting their jobs, known as the “Great Resignation,” is not a shift in worker attitudes in the wake of the pandemic. Evidence on which workers are quitting suggests that it reflects the strong rebound of the demand for younger and less-educated workers. Historical data on quits in manufacturing suggest that the current wave is not unusual. Waves of job quits have occurred during all fast recoveries in the postwar period.



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