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What’s Driving The Great Resignation? 4.3 Million and Counting Quit

In August, 4.3 million Americans quit their jobs. The exodus was already called The Great Resignation. All signs show that it’s here to stay and even accelerating. What’s driving so many to abandon their jobs?

The Great Resignation is here to stay–and accelerating

In August, a record 4.3 million Americans quit their jobs. That’s the highest number in 21 years, according to statistics from the Labor Department, CNBC reported.

Food service workers quit in droves to the tune of 892,000, with retail not far behind at 721,000, followed by healthcare and social assistance losing 534,000 workers.

At the moment, the US has way more jobs than it can fill. For the last business day of August, there were 10.4 million job openings in the country, according to a release by the US Bureau of Labor Statistics on October 12.

It’s not just low-wage jobs losing workers

Typically, workers move on when there are lots of great opportunities. If people can leave their current job with a high level of confidence that they’ll score a better one, the economy naturally sees more turnover in the workplace. But there’s something different about this mass exodus from the workforce.

By all accounts, it’s an employee’s market right now that cuts across all professions. As companies struggle to try to find workers to fill vacancies, they are forced to look for creative incentives.

Why are so many Americans quitting their jobs?

All kinds of theories are being tossed around as the catalyst behind millions of Americans walking off the job with nothing waiting for them on the other side.

Many speculate that driving factors include the pandemic, vaccine mandates, and childcare issues.

However, employees say one of the driving forces behind the great resignation is low pay and a lack of respect in the workforce, WSOC-TV9 reports.

Another theory is that the pandemic-relief checks, as well as a rent moratorium and student loan forgiveness for some, have allowed people in low-paying jobs, especially those they hate, the freedom to try something else. Many Americans have tired of sticking it out with miserable jobs, Derek Thompson at The Atlantic writes.

Workers want fun

“They [workers] are also looking for growth opportunities and, of course, fun,” says Dr. Arvind Malhotra, a professor at the UNC Kenan-Flagler Business School. “Whatever employers can do to make it different and fun, provide growth opportunities, people are reconsidering what work means to them.”

Many employees complain of unstable hours and even more unstable pay, especially food service workers who have been among the most impacted by the pandemic.

Worker shortage forcing wage increases for low-paying jobs

One thing that is happening as a result of the Great Resignation and its consequential worker shortage is that employers have been forced to raise wages for some previously low-paying jobs.

Jobs that have been forced into this new paradigm the most are for food-service workers, servers, and clerks– positions that have traditionally put up with a lot for little pay.

Attitudes toward work changing

Another thing that has been developing for years, but that has really come to a head amid the pandemic, is the meaning of work. Millennials were the first to start looking for jobs that held more meaning than just a paycheck. The value of family time and quality of life has come into stronger focus.

In addition, the pandemic and the shift to working from home have also brought a rethinking. Many workers have also had to struggle to define boundaries between home and office, as well as being “on the clock” at all times. All of these factors and more have likely played a part in the Great Resignation. The question now is what happens next.