Record 4.3 million American Workers Quit Jobs in August - Politics Forum.org | PoFo

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#15194194
Americans workers have always had power, they just never realized it or used it. It starts with valuing yourself.

Matt Egan of CNN wrote:A record 4.3 million people quit their jobs in August, evidence of the considerable leverage workers have in today's economy.

About 2.9% of the workforce quit in August, up from 2.7% in July, according to the Job Openings and Labor Turnover Survey (JOLTS) report, released Tuesday. That marks the highest quit rate since the report began in late 2000.

The number of workers who quit rose by 242,000 from July as more Americans demanded higher pay, better working conditions, and more flexible arrangements. Those number of people who quit rose in accommodation and food services, wholesale trade, and state and local government education.

"If you're unhappy with your job or want a raise, in the current environment it's pretty easy to find a new one," said Gus Faucher, chief economist at PNC. "We're seeing people vote with their feet."

Companies continue to grapple with a serious worker shortage. Job openings remained very high at the end of August at 10.4 million, the JOLTS report showed. However, that marks a decline of 659,000 from the end of July.

The numbers show the worker shortage was even worse than realized this summer. The number of job openings in July was revised higher to 11.1 million, a record high since this report began in 2000.

Joe Brusuelas, chief economist at RSM, said this may be witnessing the start of what might eventually be considered the "golden age for the American worker."
"The American worker is now confident that he or she has the bargaining power and can obtain a reasonable wage -- and have influence over the shape of working conditions," Brusuelas said.

That bargaining power comes from their willingness to quit jobs they don't like and look for new ones. And this shift is not merely centered on simple economics -- but a broader reassessment around quality of life and purpose.

"This is what happens after great wars or depressions," Brusuelas said. "It's hard to spot while you're in it, but we've gone through a shock that has elicited an unexpected change upon the population. And it will take some time to sort through."

All of this helps explain why employers, including factories, trucking companies, restaurants, construction firms and schools, are having trouble finding workers.


https://www.cnn.com/2021/10/12/economy/ ... index.html
#15194208
@late

Nationwide strike if that is what is necessary. Shut the economy down until worker demands are met. If they want to fight, then give them a fight and don't surrender. They can't make anybody work if they don't want to. People don't mind working, they just want to be paid enough to live and be treated with respect on the job. Most people just want to live comfortably with respect and dignity. Those are not unreasonable demands.
Last edited by tomskunk on 13 Oct 2021 02:25, edited 1 time in total.
#15194214
No, no, no, market demand should only drive wages down not up! :*(

I honestly think a couple years of solid inflation is exactly what the US needs right now. Increase wages across the board. Reduce debts by proxy. Save the US from its looming debt crisis without requiring something absurd and utopian like political action or Congressional compromise.

Too bad landlords will leech all the good of it out of the system. Can we try the Zillow CEO for treason?
#15194254
tomskunk wrote:
@late

Nationwide strike if that is what is necessary. Shut the economy down until worker demands are met. If they want to fight, then give them a fight and don't surrender. They can't make anybody work if they don't want to. People don't mind working, they just want to be paid enough to live and be treated with respect on the job. Most people just want to live comfortably with respect and dignity. Those are not unreasonable demands.



You were wrong.

And you're wrong about something else, you are trying to limit this to a transaction when there are other things at play, like demographic changes and the government screwing the little guy six ways to sunday.

It took a horrific pandemic combined with Boomers retiring to break through all that crap.
#15194313
@late

How am I wrong that all workers want is simply to be paid reasonably and be treated with respect? It's something that hasn't been happening (workers being paid reasonably and treated with respect in the work environment) and played a major role in the worker shortage when the pandemic struck. This is just common sense. Workers had an opportunity to take stock of what was going on and drew the appropriate conclusions.
#15194358
tomskunk wrote:
@late

How am I wrong that all workers want is simply to be paid reasonably and be treated with respect? It's something that hasn't been happening (workers being paid reasonably and treated with respect in the work environment) and played a major role in the worker shortage when the pandemic struck. This is just common sense. Workers had an opportunity to take stock of what was going on and drew the appropriate conclusions.





I am a Boomer, when I was young, the labor supply exceeded the demand. Not only did this have an unfortunate effect on wages, the rich took advantage of it to attack Unions, undermine safety regs, etc.

What you are seeing is that demographic wave reversing. It's not the only thing, of course, but if you'd lived through it, recognising it's inverse is obvious.
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