Posted on 05/03/2022 8:05:25 AM PDT by frogjerk
The numbers: U.S. job openings climbed to a record 11.55 in March -- and the number of people quitting also hit an all-time high -- in another sign of a historically tight labor market.
The number of people who quit jobs in March rose to 4.54 million, the Labor Department said Tuesday.
Quits topped 4 million last summer for the first time ever. And it's now happened 10 months in a row, part of a pandemic-era trend that's become known as "The Great Resignation."
Before the pandemic, the number of people quitting jobs averaged fewer than 3 million a month. Most who quit are finding new jobs.
There's almost two open jobs for every unemployed person, though companies never try to fill all of them. The number of openings is largely viewed as a way to assess the strength of the labor market.
Big picture: The tightest labor market in decades has been a boon for workers and a headache for businesses. People are switching jobs for better pay and conditions and companies can't fill open jobs fast enough.
The result is higher wages for workers, but companies aren't able to produce enough goods and services to keep up with demand.
The big question is, how long can the golden age for labor last?
The Federal Reserve is moving to raise U.S. interest rates to try to bring down the highest inflation in 40 years, but some former officials don't think the central can succeed without triggering a recession.
Market reaction: The Dow Jones Industrial Average and S&P 500 fell in Wednesday trades.
I’ve applied to over 100 companies for online positions that match my qualifications and zero takers and only 3 interviews. Lots of folks are applying for these jobs (hundreds) in some cases. Weird job market.
Just insinuate that you are a recent “migrant”, they’ll hire you on the spot.
Many of those jobs are for 19 hours because they don’t want to provide healthcare to a full time worker. The side effect of bad legislation.
1) Inflation has pushed costs sky high
2) People are leaving for higher paying jobs.
3) The jobs are forced to offer higher rates, to attract new employees.
4) This makes their cost higher
5) repeat from 1
What Americans are doing in terms of work life is puzzling to me. How do they live? I’ve come up with two possibilities, both have negative implications for America’s future:
1 - People who don’t want to work at all. The “stimulus” and other forms of forgiveness have made this possible. Many Americans “live in the moment”. They don’t plan, they don’t care about tomorrow, as long as they can get by today, that’s all that counts. Seems to be a lot of them, and they must be running out of savings and building huge debt. It’s mind boggling.
2 - People who work “side hustles”. Door dash, uber, lyft, sell stuff on ebay, amazon and so on. Again, unconcerned about the future, just living for today. Those side hustles will give them nothing in terms of social securty, 401k, or any other form of retirement. But, they can get enough for today.
It just looks like serious trouble to me.
I think it’s highly field dependent.
I work in electrical distribution design.
Four interviews in a week, with three offers.
We have so much work and so few qualified people.
Most younger EE’s find utility work to be “non sexy”.
They want Apple, Twitter, Google, et al.
I would agree with you - a weird job market indeed.
Have you tried identifying as a transexual Venetian with a weird pronoun? This might give you an edge.
I put my resume out there just to see....bam! About a 20% increase in pay...Told my old boss, he said he cannot match it and shook my hand and said God speed.
here in L.A., you see signs on McDonald’s with “start at $16/HR”.
Louiswu....or is it the fact that somewhere in your public history they know that you’re on a site like FR. HR, like adacemia-media-tech-courts, is dominated by Leftists women that hate anyone that isn’t like them?
A Conservative, that isn’t afraid to show their colors, isn’t getting a job at Google, Facebook, Twitter, Instagram, etc, etc, etc. And the same goes for many other lines of work.
A simple FB/Instagram check, they see that you have an picture of the Old Glory on there or something else that would signify you’re considered a “domestic terrorist” by CornPop, Mayorkas and the DHS and your resume goes into the round filing cabinet on the floor or should I say, recycle bin on the desktop.
I have a grandson who is at the entry level stage so have some feel for that and am shocked that fast food or 7/11 type places are paying $14/hr and can never get workers. He tells me how the turnover rate is crazy. People work for a month of two and then quit.
Good points. After the election I went total eraser ghost mode. I’ve posted several times that if you are dropping social credit score bread crumbs you are doing it wrong.
It’s the effects of the Trump economy. It is still improving some things.
Nope. They’re quitting due to wages can’t offset the costs of living
* Transportation
* High fuel costs
* High housing
* High food
* High gas and utilities
Their argument: “what’s the use”
Those wages cannot compensate for the current costs of living.
OK, so if you are correct, what is the answer for these that are quitting for the very real reasons you raise? Gov asstance is better? Even if you were making 6 figures or close to it you would rather be on the dole for not much at all?
It's only Tuesday morning... how does that happen?
Kids who live at home. Those jobs aren’t supposed to be for family breadwinners.
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