See Forget Going Back to the Office—People Are Just Quitting Instead by Lauren Weber of The WSJ. Excerpts:
"More U.S. workers are quitting their jobs than at any time in at least two decades, signaling optimism among many professionals while also adding to the struggle companies face trying to keep up with the economic recovery.
The wave of resignations marks a sharp turn from the darkest days of the pandemic, when workers craved job security while weathering a national health and economic crisis. In April, the share of U.S. workers leaving jobs was 2.7%, according to the Labor Department, a jump from 1.6% a year earlier to the highest level since at least 2000.
The shift by workers into new jobs and careers is prompting employers to raise wages and offer promotions to keep hold of talent. The appetite for change by employees indicates many professionals are feeling confident about jumping ship for better prospects, despite elevated unemployment rates.
While a high quit rate stings employers with greater turnover costs, and in some cases, business disruptions, labor economists said churn typically signals a healthy labor market as people gravitate to jobs more suited to their skills, interests and personal lives."
"Several factors are driving the job turnover. Many people are spurning a return to business as usual, preferring the flexibility of remote work or reluctant to be in an office before the virus is vanquished. Others are burned out from extra pandemic workloads and stress, while some are looking for higher pay to make up for a spouse’s job loss or used the past year to reconsider their career path and shift gears."
"For many workers who want a change, there appear to be plenty of options. Some sectors, such as manufacturing and leisure and hospitality, are getting a boost from government stimulus packages and enthusiastic consumer spending. Employers are on the lookout for workers, eager to snap up promising candidates."
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