Various factors have combined to create what is being called the Great Resignation. Historic stock prices buoyed 401ks and runaway home prices left many older workers feeling financially secure enough to retire early. Many workers have left jobs because they either fear exposure to COVID-19 or don’t want to deal with precautions like masking, testing and vaccinations. Rising prices combined with numerous job vacancies have prompted others to leave one job for a better opportunity elsewhere.
But labor markets, like all markets, are cyclical, and some evidence suggests things may be slowly improving for employers.