A record 4.3 million workers quit their jobs in August

Discussion in 'Economics' started by ipatent, Oct 12, 2021.

  1. ipatent

    ipatent

    A record 4.3 million workers quit their jobs in August

    "There is an enormous labor shortage in the country right now and it is not just because people are quitting or have child care problems, or can't get to work due to the Delta variant," wrote Chris Rupkey, chief economist at Fwdbonds. "The economy is strong as a bull, that is why there is a tremendous demand for labor."​
    Is the truth in the denial? I'm not sure we're getting the straight truth here, and suspect a lot of moms have chosen to quit and stay home, keeping their kids out of school or day care.
     
  2. maxinger

    maxinger

    You wouldn't see such a problem in Afghanistan, Syria, Somalia, South Sudan ...
     
    murray t turtle likes this.
  3. Overnight

    Overnight

    Because they don't have jobs available? How many Cumberland Farms or Macy's do they have in South Sudan?

    McDonalds, biggest food retailer ever. How many are there in Somalia? Where are the job openings in those countries?
     
    murray t turtle likes this.
  4. tango29

    tango29

    The wife is up to 4 employees walking away in the last 2 months and a few more in the preceding months. She is going out of her mind getting coverage for shifts as the people left are burning out. She is a lab and quality manager for a hospital, so going short isn't an option. The Agency they are using to put people in the labs have upped their charges by $20-30 per hour, and this is after upping them earlier in the year. Nursing is seeing the same problems and costs. People thought healthcare cost increases were bad before, they are going to be significantly worse if this doesn't change.
     
    VPhantom, NoahA, fan27 and 1 other person like this.
  5. ipatent

    ipatent

    I'm trying to track down a story I saw the other day about the authorities trying to hide the drop in K-12 enrollment in NYC, among other places, this year. Sounds from that that parents may be keeping them home to homeschool while the virus is still a threat. Would explain a lot of resignations in August, although the demographic that has the savings to do that wouldn't be restaurant employees or the like referenced in the article.
     
  6. wrbtrader

    wrbtrader

    I know a few healthcare workers that quit working in the medical field because they're just burnt out and the Pandemic is just too demanding on them.

    Simply, it has nothing to do with any vaccine mandates. They're just tired of the bullshit associated with the Pandemic.

    Some are going back to school for another degree while others with a spouse that makes a good income...they're just going to live off their savings to just relax as much as possible during the Pandemic.

    wrbtrader
     
  7. KCalhoun

    KCalhoun

    Our government, both parties, have failed to lead.

    Politicians posture and talk but accomplish little. Exactly the wrong thing during the global pandemic.

    The zombie apocalypse is underway. Gun sales surged.
    https://www.cnn.com/2021/03/14/us/us-gun-sales-record/index.html

    The worst is yet to come. Insert funny video lol. But seriously.... riots and home invasions will surge.

    Murders have skyrocketed this past year. https://www.nytimes.com/2021/09/22/upshot/murder-rise-2020.html

    Totally makes sense to stay at home. Thankfully we can TRADE during this bullshit.
     
    Last edited: Oct 12, 2021
  8. kmiklas

    kmiklas

    If the economy is so strong, then why are we pouring in $120B/month in QE, and the Fed fund rate is still near-zero?

    With such a RAGING BULL market like this, we should be able to stop the QE and pop Fed fund rates up to the 2% target by EOY, right?

    Nope... it's a house of cards, and everyone is afraid to touch it, lest it come crashing down.
     
  9. Overnight

    Overnight

    Because it WILL come crashing down, and everyone's 401K will collapse with it, which is what all these fat cats are living on now, because they refuse to go back to work.
     
    kmiklas and zdreg like this.
  10. JSOP

    JSOP

    Yeah Biden's brilliant pay-to-stay-home "stimulus package" + no development in or funding for robotics for automation. And he still wants to spend more $$ on infrastructure? Honestly what's the point of it if nobody wants to work? They think Trump is out to lunch. This guy is in another world doing nothing. Oh no wait, he did do something, retreating from a war that let terrorists took over in 9 days. So far that's his only accomplishment.
     
    #10     Oct 13, 2021
    tommo and murray t turtle like this.