Posted on 11/15/2021 5:14:41 PM PST by Libloather
After the number of U.S. workers voluntarily quitting their jobs reached a record high in September, White House Council of Economic Advisers member Jared Bernstein framed the labor crunch as a "good sign," saying that employees now have more leverage to negotiate better-paying roles.
More than 4.4 million employees left their jobs last month, the highest figure in two decades, and a rise of about 164,000 from the last record set in August of 4.3 million, according to the Labor Department's monthly Job Openings and Labor Turnover Survey released Friday.
As employers contemplate raising wages to attract workers amid their struggle to fill millions of jobs, Bernstein contended that the shortage is "often misinterpreted as a bad sign, when from a worker's perspective it's actually a good sign."
"The reason it's a good sign," he said on MSNBC Saturday, "is because, at a time of very strong labor demand, those kinds of conditions mean that there are lots of good higher-paying opportunities for workers to engage in upward mobility and that's what the quit rates are telling us at a time like this."
Workers are not quitting and leaving the labor market, according to Bernstein -they're mostly quitting so that they can move up the scale to a better job.
"From a perspective of working people, this is them exercising some of their bargaining power characteristic of this Biden boom," he added.
Job openings came in at 10.4 million at the end of September, only a slight drop from a record 11.1 million in July during the onset of a summer COVID surge that was driven by the highly contagious Delta variant.
(Excerpt) Read more at msn.com ...
Depends on the goal.
I don’t think Brandon has the same goal in mind as we do.
For every 4 million Americans leaving the workforce, 2 million illegals are allowed in the country.
They know this how?
.....Biden Boom......that boom may be an inflation explosion. I heat my home with Propane, and propane has risen 40 cents per gallon since August.
I’m surprised the increase is so small.
I would have figured a buck or more.
Taking their cue from comtard Bernie Sanders?
Paraphrased “Breadlines are a good thing.”
Mainomaicracy — government by the insane.
We do too but also have two woodstoves. When they ban those (people’s republik of NY) they’ll have to pry them out of our cold dead hands.
I knew they were going to increase propane prices outrageously so fortunately I filled up both tanks in June.
Makes no sense when 4.4 mil quit.
I’m sure that’s why but press secretary last week said it was due to people quitting and finding better paying jobs. My wife and laughed our butts off.
Brandon’s Big Blunder...
Not just 2 million. When they take advantage of “Family Reunification, which allows them to bring over as many family as they want (usually 10-12 people per person) it will be ANOTHER 20 million.
That means it will be 22 MILLION this year alone and we have 3 more years of this demented fool.
Voluntarily quit ?!? Rubbish !!!
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