The Great Resignation?

Jun 13, 2022 | Ask "Z" Economist

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Summary: It’s all over the headlines: the “Great Resignation” is upon us… How could people resign their wonderful jobs in search of better opportunities? Especially during a looming recession? It seems that every talking head hypes this observance to blame their pet peeve as the reason for this economy ending phenomenon. But looking at the actual data in this chart shows that while the quit rate trended steadily higher after the 2009 “Great Recession”, it simply returned to pre-recessionary levels in 2020. Currently, the rate is less than 1% higher than that. Hardly a catastrophe! Maybe covid and the lockdowns made workers think a little more deeply about their goals & objectives. Perhaps this is leading to more decisions for entrepreneurship & self-employment? That is great for economic growth!

The Great Resignation Graph

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