[hindsightRegret]

I see this argument come up all the time. However, the job market in general and especially in America is terribly inefficient. The vast majority of Americans work paycheck-to-paycheck and are tied down to their geographic location (family, children, housing). There isn't really a social safety net (by design, I think) in America for employees who voluntarily quit their jobs. So lots of people are stuck in jobs they hate, getting paid less than they deserve, and are a poor match for their skills. There are still lots of jobs that don't have the luxury of entirely virtual interview processes. Over time, I do hope the job market gets more and more liquid for candidates.

[hindsightRegret]

The Great Resignation was a step in the right direction.

[tick_tock_tick]

I'm still waiting for proof it was anything more then people changing jobs or taking time off when they got stimulus checks. I really doubt anything is coming of it at this rate let alone "societal" changes.

[lamontcg]

Well COVID killed a bunch of people and disabled a bunch more, so those people dropped out of the workforce. There's also the fact that Baby Boomers are retiring. That means that economy right now wants more workers than are available which puts pricing power in the hands of employees.

And the idea that you should job hop to get higher wages and that employee loyalty to employers is for suckers has trickled all the way down and people are talking about it and there's a noticeable uptick in unionization drives.

The idea that everyone just up and quit is probably not correct at all, but I don't think its accurate to say that the environment isn't looking any different from the past ~30ish years.

I think the Fed is about to stomp the shit out of all of it though.

[p10_user]

How do you think fed actions, presumably interest rate rises, will put the kibosh on the new leverage being enjoyed by workers?

[lamontcg]

By tanking the economy, eliminating positions and increasing unemployment and creating a labor-seeking glut again, even if means causing a depression.

[p10_user]

At least we are getting a good education on monetary policy along the way.