There have been well over 4.54 million Americans quit their jobs, rather than return to work after companies have now ended remote-work policies that they implemented during the covid pandemic.
In March, more people quit their jobs than the record that had been set in November 2021 according to the Department of Labor, and job openings have increased to 11.5 million, leaving employers unable to fill their vacant positions.
Employers are desperate to get staff and are offering higher wages, signing bonuses and benefit packages to entice employers to work for them. This also includes more days off, as Americans are prioritizing being at home more.
The latest numbers in March, is equivalent to about three percent of the entire American workforce and the government also reports that they have seen the largest increase in compensation for American workers – the largest increase in over three decades.
“For the economy, the resignations point to another strong jobs report; for workers, it could translate to continued strong wage increases, especially for those who changed jobs,” said Robert Frick, a corporate economist at Navy Federal Credit Union in Vienna, Virginia. “The situation likely will continue well into this year given the Federal Reserve’s efforts to cool the labor market probably won’t gain traction for months.”
Job openings have increased by 205,000, pushing the total number of openings to 11.5 million in March, the retail sector adding 155,000 to that total alone. It is also reported that manufacturers of long-lasting goods have added 50,000 vacancies.
The transportation, warehouse and utility industry have decreased their job openings by 69,000 and state and local government education has 43,000 less vacancies and job openings with the federal government have fallen by 20,000.
Because it is difficult to find staff, businesses are now reluctant to fire employees. For every person in America that was fired from their job, three more quit their jobs.
White collar workers are also quitting in increasing numbers, with an average of 809,000 employees working in professional and business services, quitting their jobs in March, which is a 28 percent increase from the same period in 2021.
A senior economist at Moody’s Analytics in West Chester, Pennsylvania, Sophia Koropeckyj said: “The persistent difficulty that employers have in filling positions will push wages higher and spur employers to automate operations or find other efficiencies to make do with smaller staffs.”
“These challenges will only grow as more baby boomers leave the labor force. Companies will open operations in parts of the country with more available workers or at least will rely more on remote workers who reside in areas with better demographics,” she went on.
The labor shortage is one excuse that pro-immigration lobbies use to justify bringing in foreign nationals – to fill the job market. This is only going to contribute to the continuing downfall of the economy – less workers means less production.
As long as people continue to get handouts from the government they won’t get off their lazy a—s and get a job meanwhile illegals will eventually get those jobs
your rite if the government would stop giving people hand outs they would get a job and if they bring in more forigen people to fill the gaps it’s going ro be even harder to people to stay working and if they keep automating things the people will not have to work any more and if it comes down to that then every one will have no jobs
It isn’t laziness wanting a fair wage. And that’s been a big problem since the beginning of the American work force. There will never be a fair wage that will cover the average American workers bills. Especially now, we’ve been pressed into insurance scams, high taxes, and now an uncontrollable inflation. And inflation being the main thing keeping always ahead of everything, since the last thing to ever see a positive influx is a person’s wages. It’s greed that has broken the spirit of the American people’s will to work. Just when a person thinks they can make a living, it gets taken away by another tax or some ridiculous scam to bilk them right back where they started. And I won’t even start with credit cards. Another bad idea of course. Used to be loan sharking was against the law. And a person saved up for what they wanted and paid cash. A home or a vehicle was the only thing that you might need to finance when my parents worked. And if both of them worked, those two things were not that hard to get and maintain. Thank you for letting me put in my two cents.
Kevin, fully agree with your thinking ,would also would like to note that with the increase immigration problem the wage issue will be shortly addressed by employers paying lower wages to immigrants(illegals)
Bernard, please tell me what is a fair wage (varies with all) considering that most people DO NOT live within their means, Credit cards are my primary example. Yes there are some who have been caught short through no fault of their own ,but the great many have done to themselves. There are many who think flipping hamburgers ( an entry level job) should be a career or family life supporting job.
Seems to me, the more you make, the more you buy.
I have to agree with you . I would also say that part of this has to do with the government and the fact that there are so many store doing the self check out that eliminates so many jobs and the we shop for you you come pick up .
I have watched how they shop they do not pick the freshest items they walk by and just take the first pice they seei if they are picking produce and they pick do not reply watch what they pick on the can goods either and the same with dairy products on even the meats they just grab the first piece they see
sorry I just got carried away but you are rite 100 %
Increased wages will assist the inflationary process that the government has created. The people losing out the most are those who are no longer able to work, living on a fixed income. If I could work, I would be out there as I watch my buying power shrinking. This does not bode well for the retired and disabled.
Corporate Greed has abused the American workers for over a Century. A Walmart worker (full time) with a child qualifies for public assistance, free school lunches etc. Thus Walmart has gotten even wealthier off the backs of the tax payer. A living wage, with some health care benefits, to bring the worker above the poverty level should be a standard. If so, these companies that have a worker shortage may NOT. Greedy corporations can not balance their check books on the backs of their labor, all the while enriching their CEO’S & upper Mgmt. & expect any thing other than a disgruntled work force that will leave & never return.