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This article opens with a person experiencing burnout and choosing to leave a job where he needed to commute 1.5 hours per day, but the story isn’t really about
by PragmaticPulp 5y ago
This article opens with a person experiencing burnout and choosing to leave a job where he needed to commute 1.5 hours per day, but the story isn’t really about people quitting work or leaving the workforce.
The majority of people resigning their jobs are simply changing jobs, and the article doesn’t provide any evidence that people are changing to remote work in large numbers.
The biggest driver of the increase in job changes is simply the booming economy. We poured stimulus money into the economy at unprecedented rates and this has created economic booms at every level. Companies are scrambling to hire and wages reflect this, so people are taking the opportunity to switch up their careers and collect a pay bump.
Most of the business world appears to be snapping back to business as normal at a rapid rate, but with a booming economy pouring fuel on the fire. The media has been pushing narratives that COVID changes everything and that we’re entering a whole new world, but aside from companies adding a little more flexibility it seems most are eager to simply return to business as usual.
On the ground, I’m not seeing a massive shift toward remote work like I keep reading about in these articles. Yes, there are somewhat more remote jobs, but companies are largely eager to return to in-office work. Even many employees I know are eager to get back to the office because remote isn’t for everyone.
- adolph 5y ago> booming economy. We poured stimulus money s/oom/ubl/
- lumberingjack 5y agoRemember the housing market boom right before the bubble popped they propped it up with stimulus money everybody was like oh wow this is great houses are such a low price...... You're basically talking about the same thing there
- mywittyname 5y agoNo. I do remember people being like, 'holy shit, houses are getting so expensive' in the years leading up to the bubble popping. And knowing a few people stuck in their houses after real estate agents convinced them to buy at way more than market value. What stimulus are you talking about? Mortgage rates were laughably high by today's standards. Maybe the $600 bush tax cut? I remember some first time home-buyers programs, but those were largely in response to 2008.
- danuker 5y agoI suspect it's the Fed injecting liquidity: https://fred.stlouisfed.org/series/WM2NS https://fred.stlouisfed.org/series/WM2NS