> From a small business perspective, turnover is a lot higher, and a lot more of it is because the employees are simply not doing their jobs and have to be let

> From a small business perspective, turnover is a lot higher, and a lot more of it is because the employees are simply not doing their jobs and have to be let go. Many of these small businesses were tying up a ton of talent. During COVID, their workers left to go work for larger companies and (in the case of the service industry) took office jobs. To add to this, a number of these small businesses engaged in PPP fraud by taking out loans to designed to keep payrolls going but ended up "spending" it on an owner's draw. This was not the intention of the program: It was to stabilize the workforce. But by shedding headcount, these businesses handed over a ton of labor to white collar employers. They're likely never getting those workers back. And I will also say, especially among younger people, small business owners have earned a reputation for being difficult to work for. So you're right, in a sense, but the other factor at play is that small businesses scare away good workers.