Changed from the Before Times
While initial unemployment claims have now fallen into the high normal range from the before times, the post pandemic quit rate remains at unprecedented levels.
American employers have been exploiting residual employee loyalty for decades, but that well appears to have run dry:
A record 4.4 million Americans quit their jobs in September, as workers took advantage of the surge in job openings across the country, a sign of how labor market imbalances continue to complicate the economic recovery 20 months into the pandemic.
The number of people quitting in September constituted 3 percent of the workforce, according to a monthly Bureau of Labor Statistics survey released Friday. That number is up from the previous record, set in August, when 4.3 million people quit their jobs — about 2.9 percent of the workforce. In February 2020, before the big wave of pandemic-related layoffs began, 2.3 percent of workers quit their jobs.
I have been wondering what would happen when the American tradition of inhumane management would finally exhaust the goodwill of the workforce.
It looks like we are about to find out.
Also, I wonder what happens if some sort of socialized medicine is instituted, and the tie between employment and health insurance is severed. Sh%$ty employers will be devastated.