The Great Resignation Is (Slowly) Losing Steam
In the wake of the unprecedented jobs crisis brought about by the Covid-19 pandemic, a new trend emerged in the U.S. labor market throughout 2021, as tens of millions of Americans voluntarily left their jobs. According to the latest JOLTS report, the “Great Resignation” lost some steam in September, as the seasonally adjusted number of quits saw the fifth decline in six months. Historically speaking, the number of Americans leaving their jobs is still very high at 4.06 million, though, while the number of job openings jumped back up to 10.72 million in September.
The number of quits has now exceeded the pre-pandemic high for 19 consecutive months, as more than 4 million Americans voluntarily left their jobs in 17 of the past 19 months. Meanwhile, employers, especially in low-wage sectors, are still struggling to fill open positions.
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Michael N. Mercurio is a leading attorney in the field of mergers and acquisitions (M&A). He serves as outside general counsel in buy-side and sell-side M&A, as well as in all business law and real estate law matters. As a strategic partner to firm clients, Mr. Mercurio regularly counsels entrepreneurial individuals and assorted entities on the many challenges, issues, and opportunities companies face throughout the business lifecycle—from start-up to eventual exit.
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