but at the article points out, that money in their savings is going to dwindle down. If they are choosing to not work eventually they will need to come back to work. Employers are wising up a bit, now that we have gone through ‘the great resignation’ period.
There are 3 kinds of folks in these circumstances, the first is the one who chooses not to work, the second is the one who invested in finding a better job or education for a better job, the third is those who chose to become self-employed. Which when is come to personal economics all looks good on paper.
But...on the macroeconomic scale all three of those positions currently are high risk scenarios. All three are depending on the oligarchs to be able to make the right moves.
And as history tells us, that has never happened yet.
Yes the money in savings will dwindle. In my opinion this excess savings is a bigger part of the “great resignation” than the media is saying. The economic media is mostly saying it is A. fear of covid and B. lack of childcare owing to school closures that is keeping women, especially, out of the workforce.
I opine that it’s also the fact that a lot of households have enough cash RIGHT NOW, that people have the choice NOT to go to kind of awful jobs, like cashier, warehouse worker, trucker, haircutter, busboy. That’s a big part of the inflation problem. Companies are paying up to get that staff, and needing to charge more for their products accordingly. Government spending led to inflation. But it SHOULD be transitory, because of what you point out. The people will run out of this cash, and have to go back to stocking shelves and canning dog food.