Record Number of Americans Resign in March
As many as 4.5 million Americans – that’s 3% of the workforce – quit their jobs during the month of March, with consumer-facing industries like food service and accommodation reporting the highest rate of openings.
This mass exodus or “Grand Resignation,” as some are calling it, drove nationwide job openings up to 11.5 million as employers continue to search for workers amid a post-pandemic labor shortage.
The employment phenomena has granted workers endless options and unforeseen negotiating power, and many Americans who quit in March left their jobs for higher-paying positions. According to federal data, job postings at companies with more than 5,000 employees have more than doubled since February of 2020.
“There is little sign of cooling in the greatest job seekers’ market of all time,” says ZipRecruiter economist Julia Pollak. “As businesses continue to face high turnover, and the gap between demand for labor and supply widens yet further, businesses will continue to experience upward pressure on wages.”
The US economy added 1.7 million jobs during Q1 2022 and the employment-to-population ratio for workers between the ages of 25 and 54 jumped from 70% (in April) to 80% (in March). Virtually nobody is being laid off.
Unfortunately for many of us, historic pay gains have been offset by rising inflation. If you factor in the rising cost of goods and services, average hourly earnings for March were actually down 2.7% YOY and 0.8% on a monthly basis. As reported by the Labor Department, March was the 8th consecutive month in which available jobs remained above 10 million. Before COVID, the highest number on record was 7.7 million.
Sources:
Job openings climb to fresh high in March as record number of Americans quit their job
Americans are still quitting their jobs in record numbers
Lazy bastards
That’s why Frank Stetson spends every day trolling with his bull shit. He’s too damned lazy to get a job
Frank stetson makes plenty of money tyvm. He worked so hard, so well, that he’s a little more laid back than we he was telling lower levels like Tom what to do He’s just not a stupid slave like tom. He’s management and he’s here to help 😉
But you can tell your sig. other that you took on a liberal today and you made them cringe. Oh the horror of it all.
Plus, there’s a number of frank stetsons here; joe allows doppelgängers. He runs a sloppy site.
I can clean out all of the Franks if you like…
It’s your web site.
I just think people spoofing other prople is less than a satisfactory experience. We can’t spoof you. Guess there’s bias.
We need Congress to pass legislation declaring that any raise not greater than inflation occurring since the previous raise cannot be considered one. In that way, people who continually got those 1%-2% raises, very common in the last 30 years, can claim it has been years since they got one, and businesses could not legally argue the point. While they are at it, the Federal government should be adjusting their minimum wage and poverty numbers to account for increased costs of living, and they should be doing this annually.
Wait, I thought that minimum wage workers were just supposed to get better jobs? That capitalism would fix wage disparity ? Now you’re complaining that people don’t want to work for poverty wages? You acknowledge the job needs to be done, but don’t want the workers to be paid enough to make it worth their time to go to work?
I can’t imagine why, in these times of corporate record profits, people don’t want to work a full time job that won’t meet their basic needs.