November 2021 - Page 3 of 3 - Everday Resources

Introduction

Millions of Americans are deserting their jobs in record numbers. The American workforce has never seen an exodus from employment quite like this.

According to the US Labor Department, little under 4.3 million people left their employment in August. Employees all over the country feel that they have the ability and the right to leave their jobs if employers aren’t meeting certain requirements or treating them right. Indeed, workers have found that they have leverage for the first time in American history. Employers now require them more than they require a certain employer.

But why are Americans leaving their jobs in droves? What is causing this enormous shift away from certain businesses?

Who Is Quitting?

Service Industry

892,000 people who left their employment worked in the food service and hospitality industries. 721,000 retail workers quit, while 534,000 healthcare and social support professionals left their careers too.

When you examine the types of industries hit hardest by these resignations, you can start to see why they are happening. The pandemic definitely has had a huge impact on these sorts of jobs and it is causing many to reconsider what they are doing and who they are doing it for.

From food service to retail to healthcare – these are jobs that are directly impacted by the dangers and anxiety of the coronavirus pandemic. They are all high-stress jobs, since they deal with a public that is ever-coarsening, impatient, and furious in the post-pandemic age.

Other Job Industries

However, they aren’t the only employees who are packing up and saying goodbye to their bosses. Workers are departing at or near record levels in practically every industry, according to the Bureau of Labor Statistics.

Is it a case of individuals being dissatisfied with their work, or are they just confident in their ability to locate new ones? That’s what many experts believe.

Why Are They Quitting?

It seems like many employees are fed up with their current jobs and the pesky customers they serve. However, they also know that they have a wide variety of choices they can move onto. This is likely what is driving the mass resignations.

Labor Need is Driving Resignations

Currently there is a significant need for labor in the United States. Employees have the confidence to move on because of the high demand for work. Most people are aware that they may find a better job in their industry, one that pays more and provides more of the benefits they desire. There has never been a better moment for anyone wishing to shift careers totally, with plenty of opportunities available.

Essentially, America is in an endless loop of people quitting because they are unhappy. Those resignations cause a demand for labor and that demand for labor makes more people quit because they see opportunity. People feel like now is the time to change careers and the possibilities seem endless.

Conclusion

The pandemic has made many reorganize their priorities and that involves what they do for a living too. Eventually the job market will stabilize but, for now, millions are looking for employment in new, exciting places because they believe they can – and should.

Predictions for this Winter

Many business and industry analysts have predicted a harsh winter when it comes to the energy bill for many families.

Natural Gas

For example, natural gas-powered homes – which account for roughly half of all U.S. families – may spend $746 this winter, up 30% from a year earlier. This might result in their heating expenditures being the highest since the winter of 2008-2009.

Electricity

Meanwhile, households who use electricity, which account for around 41% of the country’s population, might see a relatively moderate 6% hike to $1,268. Heating oil users, who account for 4% of the country’s population, may see their costs rise by 43%, or more than $500, to $1,734.

Propane

Additionally, the most significant increases are predicted for homes that use propane. That accounts for only 5% of all families in the United States, but other households are also likely to suffer significant increases.

For most Americans, it will be a significant increase across the board. All in all, with global prices for heating oil, natural gas, and other fuels increasing, the US government has predicted that homeowners’ heating expenditures would rise by up to 54 percent this winter compared to last.

Inflation Strikes Again

All of this negative news serves as a harsh reminder of the global economy’s inflationary spiral. According to a different study provided by the US government, consumer prices in September were 5.4 percent higher than a year earlier. As a resurgent economy and clogged supply chains drive up costs for everything from autos to groceries, this is the highest inflation since 2008.

Employers, on the other hand, are not doing enough to keep up with the rate of inflation. Most workers’ pay hikes haven’t kept up with inflation so far. Workers’ average hourly earnings increased by 4.6 percent last month compared to a year ago. While that is good news it is becoming apparent that more needs to be done.

Conclusion

The coming winter will prove challenging for many reasons. The economy is rebounding, but slowly, while the job market remains in flux and many businesses face shortages. Inflation is only making things worse. Combined, this will lead to higher-than-normal electricity bills and yet another headache for many Americans.