The American 'Great Resignation' by the numbers
"Scarce labor is becoming a fixture of the U.S. economy, reshaping the workforce and prodding firms to adapt by raising wages, reinventing services, and investing in automation," The Wall Street Journal reports. The exodus of workers spans the labor market but is most pronounced in the service industries, and the numbers are very large: 4.3 million Americans quit in August alone, the Labor Department said this week, the highest number since December 2000.
Analysts are calling this the Great Resignation. Here are some numbers:
- 2.9 percent — the share of the nation's workforce that quit in August
- 4.8 percent — the U.S. unemployment rate in September, a pandemic low
- 293,000 — jobless claims last week, a pandemic low
- 309,000 — women 20 and older who dropped out of the workforce in September
- 182,000 — men who were added to the workforce in September
- 108,700 — drop in the number of child care workers in September versus February 2020
- 10.4 million — unfilled U.S. jobs (Labor Department)
- 51 percent — business owners who said the have jobs openings they can't fill (National Federation of Independent Business)
- 48 percent — the share of America's working population actively looking for a job or watching for opportunities (Gallup, July)
- 61.6 percent — labor participation rate in September, versus 63.3 percent in February 2020
- 4.3 million — jobs that have vanished with the pandemic-era drop in labor participation
- 22 — number of economists surveyed by The Wall Street Journal, out of 52, who predicted labor participation will never return to pre-pandemic levels
- 40 percent — share of the 4.3 million people who quit in August from restaurant and hotel jobs
- 930,500 — drop in restaurant and bar jobs in September versus February 2020
- 12.7 percent — increase in hourly pay at bars and restaurants in August versus February 2020
- 7.3 percent — increase in price of restaurant meals in September versus February 2020
- 3.6 million — number of new retirees between February 2020 and June 2021
"You might be wondering why is everyone quitting now — like, right now," Trevor Noah said on Thursday's Daily Show. "I mean, people have wanted to quit their jobs since the beginning of time." In this case, "it turns out there isn't one reason people are quitting their jobs," he said, "because the pandemic has given people a million reasons to quit their jobs."
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.
-
Political cartoons for January 26Cartoons Monday's political cartoons include an ICE storm, the TikTok takeover, and Iranian-style reform
-
Winter storm lashes much of US South, East CoastSpeed Read The storm spread across 2,000 miles of the country
-
China’s Xi targets top general in growing purgeSpeed Read Zhang Youxia is being investigated over ‘grave violations’ of the law
-
Buffett: The end of a golden era for Berkshire HathawayFeature After 60 years, the Oracle of Omaha retires
-
Tariffs have American whiskey distillers on the rocksIn the Spotlight Jim Beam is the latest brand to feel the pain
-
TikTok secures deal to remain in USSpeed Read ByteDance will form a US version of the popular video-sharing platform
-
SiriusXM hopes a new Howard Stern deal can turn its fortunes aroundThe Explainer The company has been steadily losing subscribers
-
Unemployment rate ticks up amid fall job lossesSpeed Read Data released by the Commerce Department indicates ‘one of the weakest American labor markets in years’
-
How will the Warner Bros. bidding war affect the entertainment industry?Today’s Big Question Both Netflix and Paramount are trying to purchase the company
-
Texas is trying to become America’s next financial hubIn the Spotlight The Lone Star State could soon have three major stock exchanges
-
US mints final penny after 232-year runSpeed Read Production of the one-cent coin has ended
