They Hate You, They Really Hate You!

The November quit rate just hit a new record.

I dunno. Maybe a lot of people just hate their bosses, and hate their employers, and wish they were someone else, and now that there’s a tight market, they are voting with their feet.

This is actually a good thing compared to the alternative, which is setting the boss on fire or stringing them up: (It’s kind of a thing in India)

Workers quit their jobs at a record rate in November while job openings stayed close to highest-ever levels, signs the U.S. labor market remained tight late last year.

The Labor Department on Tuesday said there were 10.6 million job openings at the end of November, a decrease from 11 million the prior month. The total number of quits reached 4.5 million after slightly falling in October from the previous month. The quits rate was 3%, up from 2.8% the prior month and returning to a record rate last seen in September.

………

The Labor Department figures lag behind private-sector data by about a month and don’t reflect any impact from the surge of the Omicron variant of Covid-19, which started building in December and is creating disruptions in parts of the economy.

“Workers continued to switch jobs in light of the many opportunities the current labor market provides,” said Nick [Captain Obvious] Bunker, an economist at Indeed.

………

U.S. job openings and workers’ willingness to leave positions have remained elevated with an imbalance between openings and available workers. In November, 6.9 million people were unemployed but say they want work, meaning there were roughly two workers for every three openings.

American bosses have been sucking the marrow out of their employees goodwill since the 1970s, but it looks like the well is dry.

Perhaps it might be a good idea for the titans of capital to wise up, because if there is not a non violent transition to a more humane system, the alternative is violence.