Audio: The “Great Resignation” and what it could mean in Missouri

Unemployment

We’re hearing a lot about “The Great Resignation” – an unemployment trend seen as the cause of labor shortages and business shutdowns. Government reports show a record monthly high of 4.5 million Americans quitting their jobs this past November alone.

University of Missouri economist and labor specialist Peter Muesser says the nickname for the trend is a little misleading.

 

 

It’s a reflection of the demand for workers in retail and service industries after the pandemic shutdowns. Muesser says this happens when the economy quickly improves after a recession.

He says it will mean that employers will change not only wages but other conditions.

 

 

Labor Specialist Muesser says one economic shift is likely to happen from the Great Resignation.

 

 

Muesser says we may not see a huge shift in the labor market.

 

 

He says one lingering question is HOW LONG this trend will last.

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