In August alone, a skyrocketing number of people quit their jobs. According to a report published by the Labor Turnover Survey (JOLTS), around 3% of the labor force have left their jobs, and that’s in August alone.
“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.”
Many multi-international companies have reported that they are suffering from a labor shortage. Mcdonald’s raised the average minimum wage to $13, and it further mentioned that this rise will follow with another increase shortly.
Analysts like Joe Brusuelas have anticipated that this behavior might trigger the rise of a new era: The era of the “golden age for the American worker.”