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BumRushDaShow

(129,376 posts)
Fri Nov 12, 2021, 11:11 AM Nov 2021

A record 4.4 million Americans quit their jobs in September as labor market tumult continued

Source: Washington Post

A record 4.4 million Americans quit their jobs in September, as job openings remained near record levels according to federal data, a sign of how imbalances in the labor market continue to complicate the economic recovery 20 months into the pandemic. Those numbers are up from August, when 4.3 million people who quit their jobs in August — about 2.9 percent of the workforce.

The numbers reflect the changes that continue to wrench the labor market after the pandemic upended the course of business and life across the country in 2020. Americans are quitting their jobs for a number of reasons. In September, when the delta variant of the coronavirus was nearing its peak, child care and other pressures forced many employees to rethink their daily routine. Many other workers, meanwhile, were lured to other jobs because of better pay and benefits elsewhere as employers became desperate to fill openings.

The August data, for example, showed that workers in more rural areas quit at a higher rate in part because they had more leverage to demand better pay. The country has regained the vast majority of jobs lost in the earliest months of the pandemic, but still has more than four million jobs less than it did in February 2020. Economists have been looking to the return to full employment as an important milestone, but labor shortages, surging caseloads from the Delta variant, supply chain issues and other wrinkles have emerged to complicate that recovery.

Businesses and industry groups have complained vociferously about trouble finding available workers since the country’s wide reopening in the spring, as they have sought to hire up. Efforts to curtail unemployment benefits to address the problem, have thus far shown little success of prompting large numbers of people back into the labor market.

Read more: https://www.washingtonpost.com/business/2021/11/12/job-quit-september-openings/

32 replies = new reply since forum marked as read
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A record 4.4 million Americans quit their jobs in September as labor market tumult continued (Original Post) BumRushDaShow Nov 2021 OP
and that also contributes to the shortages and inflation JohnSJ Nov 2021 #1
Robert Reich: The Real Cause of Current Inflation Is Corporate Power TeamProg Nov 2021 #3
This is the best explanation I've seen thus far, by RR on this issue. Thanks for FYI'ing. NT SWBTATTReg Nov 2021 #7
I disagree with Reich. The shortages cause the price increases, directly due to the mishandling JohnSJ Nov 2021 #9
Reich got his degree in Philosophy, Politics and Economics from Oxford University while . . . wackadoo wabbit Nov 2021 #18
So he is beyond reproach huh? He is a lawyer with a smattering of economics JohnSJ Nov 2021 #23
You didn't answer my question wackadoo wabbit Nov 2021 #26
Oh bullshit, Robert. oldsoftie Nov 2021 #12
You've read Robert incorrectly I think. S&D are real, it's the lack of competition of suppliers TeamProg Nov 2021 #17
+++ JohnSJ Nov 2021 #24
This message was self-deleted by its author Chin music Nov 2021 #20
This explains what's going on far more clearly than the guesses we've been getting up until now. hedda_foil Nov 2021 #2
From the source (Bureau of Labor Statistics) progree Nov 2021 #4
Was waiting for one of you guys to add the JOLTS report somewhere BumRushDaShow Nov 2021 #5
Here's mahatmakanejeeves JOLTS report - he posted in the Economy Group progree Nov 2021 #8
LOL okay BumRushDaShow Nov 2021 #10
I ran into "403 Forbidden" issues posting it in the Economy group. mahatmakanejeeves Nov 2021 #27
Ahh okay. BumRushDaShow Nov 2021 #28
I've been putting JOLTS in the Economy group for about a year now, I guess. mahatmakanejeeves Nov 2021 #29
Okay... BumRushDaShow Nov 2021 #30
The Great American Burnout.... KY_EnviroGuy Nov 2021 #6
Their friends and relatives should get vaccinated then madville Nov 2021 #14
Not true here in NM - KRQE just announced 30% of Covid patients in our hospitals womanofthehills Nov 2021 #19
I wonder if the new OSHA rules mandate boosters madville Nov 2021 #25
Other Contributors modrepub Nov 2021 #11
And many who "worked from home" have decided to call it a career oldsoftie Nov 2021 #13
I think I'm going to resign from my full time job soon madville Nov 2021 #15
Pa has a great healthcare tax cut due to COVID. The Jungle 1 Nov 2021 #16
This message was self-deleted by its author Chin music Nov 2021 #21
This message was self-deleted by its author Chin music Nov 2021 #22
"Johnny Paycheck royalties through the roof." mahatmakanejeeves Nov 2021 #31
I'd love to quit my job... imavoter Nov 2021 #32

TeamProg

(6,206 posts)
3. Robert Reich: The Real Cause of Current Inflation Is Corporate Power
Fri Nov 12, 2021, 12:46 PM
Nov 2021
https://www.democraticunderground.com/100216044026

The underlying structural problem isn’t that government is over-stimulating the economy. It’s that big corporations are under competitive.

Corporations are using the excuse of inflation to raise prices and make fatter profits. The result is a transfer of wealth from consumers to corporate executives and major investors.

This has nothing to do with inflation, folks. It has everything to do with the concentration of market power in a relatively few hands.

from a couple of days ago:
https://robertreich.org/post/667491205931745280

JohnSJ

(92,372 posts)
9. I disagree with Reich. The shortages cause the price increases, directly due to the mishandling
Fri Nov 12, 2021, 01:36 PM
Nov 2021

of the pandemic


wackadoo wabbit

(1,167 posts)
18. Reich got his degree in Philosophy, Politics and Economics from Oxford University while . . .
Fri Nov 12, 2021, 08:27 PM
Nov 2021

. . . he was a Rhodes Scholar there.

Where exactly did you get your degree in economics from?

JohnSJ

(92,372 posts)
23. So he is beyond reproach huh? He is a lawyer with a smattering of economics
Fri Nov 12, 2021, 10:22 PM
Nov 2021

for his politics, philosophy, and economics degree at Oxford – as for being a Rhodes Scholar, so is Bobby Jindal and David Vitter

wackadoo wabbit

(1,167 posts)
26. You didn't answer my question
Fri Nov 12, 2021, 11:39 PM
Nov 2021

Where did you get your degree in economics from?

As for Jindal and Vitter being Rhodes Scholars, the award is a measure of academic prowess, not politics.

But for the record, other Rhodes Scholars include Bill Clinton, Rachel Maddow, Susan Rice, and Cory Booker.

oldsoftie

(12,587 posts)
12. Oh bullshit, Robert.
Fri Nov 12, 2021, 02:00 PM
Nov 2021

Supply & demand is a real thing. And it applies to labor as well as anything else. And its hard to see how profits will go up further when some companies have reduced hours due to staffing shortages.
Its just a matter of what people will put up with. For example, I quit buying bacon several months ago. I love bacon, but its simply not worth the current price, IMO. Plus the quality was down too. When more people quit buying it, supply will increase & prices will pull back

TeamProg

(6,206 posts)
17. You've read Robert incorrectly I think. S&D are real, it's the lack of competition of suppliers
Fri Nov 12, 2021, 05:45 PM
Nov 2021

that is causing the inflation.

I thought that was clear.

Response to TeamProg (Reply #3)

progree

(10,912 posts)
4. From the source (Bureau of Labor Statistics)
Fri Nov 12, 2021, 01:07 PM
Nov 2021

Job Openings and Labor Turnover Summary
https://www.bls.gov/news.release/jolts.nr0.htm
(Progree split the first paragraph into 5 one-sentence paragraphs)

The number of job openings was little changed at 10.4 million on the last business day of September, the U.S. Bureau of Labor Statistics reported today.

Hires and total separations were little changed at 6.5 million and 6.2 million, respectively.

Within separations, the quits level and rate increased to a series high of 4.4 million and 3.0 percent, respectively.

The layoffs and discharges rate was unchanged at 0.9 percent.

This release includes estimates of the number and rate of job openings, hires, and separations for the total nonfarm sector, by industry, by four geographic regions, and by establishment size class.


Blah blah (snip) blah blah (snip) blah

Over the 12 months ending in September 2021, hires totaled 73.3 million and separations totaled 67.7
million, yielding a net employment gain of 5.6 million. These totals include workers who may have been hired and separated more than once during the year.


(snip)

The "Job Openings and Labor Turnover Summary" is also known as the JOLTS report and comes out monthly with a more than one month lag. This is the September 2021 report which was released today, November 12.


progree

(10,912 posts)
8. Here's mahatmakanejeeves JOLTS report - he posted in the Economy Group
Fri Nov 12, 2021, 01:27 PM
Nov 2021
https://www.democraticunderground.com/111691702

I was traumatized not seeing his report here, but still glad to find it over there

mahatmakanejeeves

(57,586 posts)
27. I ran into "403 Forbidden" issues posting it in the Economy group.
Sat Nov 13, 2021, 07:34 AM
Nov 2021

I quoted the first paragraph. Usually I quote the whole thing.

I had been checking Yahoo! Finance to see if they had a placeholder article waiting for the report to be released. I didn't see anything.

mahatmakanejeeves

(57,586 posts)
29. I've been putting JOLTS in the Economy group for about a year now, I guess.
Sat Nov 13, 2021, 08:12 AM
Nov 2021

I've been treating it as a scheduled press release that doesn't affect things too much, unlike the payroll employment report, which always makes the evening TV news.

It hadn't crossed my mind to put it in LBN. BLS reports are written in a style that doesn't cause too much excitement.

The last two months of JOLTS, though, have caught people's attention. I don't think it's the usual situation that the WaPo puts out an article about JOLTS within a matter of minutes.

JOLTS is definitely LBN this month and the previous month. Next month's will be watched too.

And good morning.

BumRushDaShow

(129,376 posts)
30. Okay...
Sat Nov 13, 2021, 08:25 AM
Nov 2021

We are going through some wild times, perhaps unprecedented... aside from what happened with huge shifts in the workforce during WW2 with respect to the draft pulling out a large chunk of working age people, followed by backfills of their jobs by then-"non-traditional" employees (often women) because of that, and including others who engaged in all sorts of occupations created to support the war effort.

And good Saturday morning!

KY_EnviroGuy

(14,494 posts)
6. The Great American Burnout....
Fri Nov 12, 2021, 01:11 PM
Nov 2021

from mental, emotional and in some cases physical stress.

Healthcare workers, teachers and service workers for example are simply worn out and tired of seeing friends and relatives needlessly die or nearly die from COVID.

KY.......

madville

(7,412 posts)
14. Their friends and relatives should get vaccinated then
Fri Nov 12, 2021, 03:02 PM
Nov 2021

There is very little risk of hospitalization,
and even less risk of death for fully vaccinated individuals.

womanofthehills

(8,759 posts)
19. Not true here in NM - KRQE just announced 30% of Covid patients in our hospitals
Fri Nov 12, 2021, 08:54 PM
Nov 2021

Are vaccinated and our hospitals are filled to capacity. They say it’s because our state was early to Vax and now a large portion of those no longer have antibodies until they get the booster

madville

(7,412 posts)
25. I wonder if the new OSHA rules mandate boosters
Fri Nov 12, 2021, 10:53 PM
Nov 2021

Because if the original vaccine isn’t working now, those new mandates are gonna be worthless sooner rather than later.

modrepub

(3,502 posts)
11. Other Contributors
Fri Nov 12, 2021, 01:54 PM
Nov 2021

Demographics: The baby boomers are finally retiring leaving a smaller demographic group (GenXers) to take up the reins. Smaller group, harder to find replacements.

Immigration: I can't help but think all of the negative posturing regarding immigrants has put the brakes on folks taking the lower rung jobs in the invisible economy. If that's the case, fewer folks willing to do the hard manual labor is contributing to more bottlenecks.

Bulls--t Jobs: Far too many companies have basically ignored high turnover in their workforce. They figured there'd always be replacements to fill in for those who burned out, got hurt or left for greener pastures. Changes in demographics and immigration have finally turned the tables on them (and they ain't happy).

Guess we'll see if government becomes the sledgehammer to force people back into our crappy-job economy.

oldsoftie

(12,587 posts)
13. And many who "worked from home" have decided to call it a career
Fri Nov 12, 2021, 02:05 PM
Nov 2021

I know several in that group. They looked at their financial situation while they were out of the office & realized they could retire NOW instead of 3,4,5 yrs from now

madville

(7,412 posts)
15. I think I'm going to resign from my full time job soon
Fri Nov 12, 2021, 03:10 PM
Nov 2021

It was a second career anyway, I just don’t feel like doing it anymore and don’t have to. I recently got my VA disability rating increased to 90% so I’m currently getting $1887 a month tax free from that. A simple $400-500 a week job would be all I need to live comfortably these days. Plus my military reserve pension will start in a few years, that will be another $2000 a month and I have a small federal civilian pension I can draw at age 57 that will be $600 a month. Arranging some things right now as far as health insurance would be concerned so I’m ready.

I still have about 15 months of credit left in my GI Bill, I could go to school a few semesters and draw about $1500 a month in living expenses from that too. I would resign right this minute if I didn’t like the no cost health plan and platinum dental coverage I get at the current job.

 

The Jungle 1

(4,552 posts)
16. Pa has a great healthcare tax cut due to COVID.
Fri Nov 12, 2021, 04:45 PM
Nov 2021

The plan is set to continue through 2022. It is based on income and pays out big numbers. If my wife retires and we control our income it will pay her whole healthcare insurance tab. If you are in Pa check it out. So I may not collect SS for another year.

Response to madville (Reply #15)

Response to BumRushDaShow (Original post)

imavoter

(646 posts)
32. I'd love to quit my job...
Sat Nov 13, 2021, 09:42 PM
Nov 2021

but would I really find better pay?

There's lots of jobs but not lots of good paying jobs, I wonder.
And I already make crap.
No point in moving from one crappy place to another.

It's a long story how I fell into my current job, but I wouldn't think
there's not a lot of admin jobs out there. It's not secretarial, but
kind of a combo of account management and data entry for back end for medical staffing.

I've pretty much made 16-17 per hour for the last 15 years, and I've
struggled to find other things that pay better.

Also, what are people doing when they quit their jobs? I have bills to pay.
Don't they? It's just me, I don't have anyone else.

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