“The Great Resignation” Is Reportedly Here As A Record 4.3 Million Americans Quit Their Jobs In August—With Restaurant And Retail Industries Hit The Hardest - The Shade Room

“The Great Resignation” Is Reportedly Here As A Record 4.3 Million Americans Quit Their Jobs In August—With Restaurant And Retail Industries Hit The Hardest

#Roommates, the COVID-19 pandemic changed the workforce in life-altering ways—but it’s likely that many didn’t expect the aftermath to result in millions of Americans walking away from their jobs permanently. According to new reports, America is currently in the midst of “The Great Resignation,” as close to five million Americans quit their jobs in the month of August alone…and experts say things could get worse.

While most Americans were enjoying their summer fun this year, millions also took the time to leave their jobs behind for good. @CNBC reports, in August of this year 4.3 million Americans quit their jobs, while some decided to leave the workforce completely—and those who still want to work cite job security and better pay as the main reasons they are looking elsewhere for employment. Based on data from the Labor Department’s Job Openings and Labor Turnover Survey, the rate for quitting jobs rose to 2.9%, the highest since December 2000. Those numbers helped earn the name “The Great Resignation.”

Additionally, the food service and accommodation industries have been hit the hardest, as a staggering 892,000 workers in both food service and accommodation industries left their jobs—while 721,000 retail workers quit their positions, followed by 534,000 people in the health care and social assistance industries. Over half of those surveyed confirmed that they intend to look for new employment in 2022 and hope to find positions with flexible working hours and remote working opportunities.

Senior Economist Elise Gould from the Economic Policy Institute, spoke about the quit rates. “As job openings and hires fell in August, the quits rate hit a new series high, surging along with the rise in Covid cases and likely growing concerns about working in the continuing pandemic,” she said.

Echoing her statement, Anthony Klotz, Management Professor at Texas A&M University, added “We were all able to take a step back in the last year and spend more time doing other things and really question the value of what we’re doing at work. A number of people have made the decision, ‘I need to make a change.’”

 

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