Last week, the U.S. Bureau of Labor Statistics announced that 4.3 million Americans, or 2.9% of the entire workforce, quit their jobs in August. That was a record-breaking month, piggybacking on previous record months. "The Great Resignation" is real, and it can be seen across virtually all industries.
I don't understand how 4.3 million Americans can quit their job. This "The Great Resignation" (TGR) does not compute in my head unless I add the conditions that each American in that 4.3 million figure are:
- without the requirement to pay rent
- without the requirement to pay a mortgate
- without the requirement to pay for food
- without the requirement to pay for gas
- without the requirement to pay for Internet, a cell phone, or streaming services (Netflix, Disney+, Hulu, etc
- $1000 rent
- $500 food
- $250 gas (prices are $7 / gallon in CA
- $250 Internet, a cell phone, or streaming services (Netflix, Disney+, Hulu, etc
Further, let's say that for those $2000 total in monthly bills, the job that the person quit earned a salary of $4000 a month. For a calendar year, that's $24,000 / year for bills versus a $48,000 salary. I'm not even including expenses such as going out to eat or buying household project items at Lowes or Home Depot. I'm not even including credit card bills. How do you willingly resign from your job (quit) and still sleep at night?!? I have had two job searches in my lifetime: spring 2011 and winter 2016. During both of those job searches, the idea of not earning a paycheck? It could have caused me to be frozen in place because I never chose to embark upon either job search.
Which is why when I think about how 4.3 million Americans are willing to give up their income, I am admitting that I do not understand TGR.
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