Taking a closer look at the ‘I quit’ economy

You’ve seen the signs. Literally. The signs taped to the windows of our favorite fast-food and fast-casual restaurants.

“We are short staffed. Please be patient with the staff that did show up. No one wants to work anymore.” “Closed due to no staff.” “We are closed. No employees. No one wants to work.”

But here’s my favorite — that comes courtesy of Dave’s Pizza in Birmingham, Alabama.

“We Will Literally Hire Anyone. If You Can’t Find A Job, Call Us, We’ll Hire You.”

This isn’t just a restaurant phenomenon. These signs tell a broader story of the seismic fluctuations that are happening in the U.S. economy and workforce.

We all know firsthand that it’s frightening to leave a job.

Whether it’s enduring grueling commutes in Atlanta traffic or managing difficult work relationships, people tend to stick to it at work unless something truly better comes along or there’s a shakeup in their industry. In fact, quit rates throughout economic history are but a small percentage of folks leaving work — the major forces in workplace moves are traditionally layoffs and forced separations.

Today, however, in our postCOVID reality, people are calling it quits on their employers in droves. So much so that there’s a question of whether we’ll ever get back to “business as usual.”

Statistics show that almost 11.5 million Americans voluntarily left their job during the three-month period of April through June of this year — a mass exodus. In April, 4 million individuals quit their jobs. That alone topples the highest reported quit rate in Bureau of Labor Statistics (BLS) history. Keep in mind that the “I quit” statistic points to workers who are typically headed to another job opportunity, leaving to start their own venture, etc., but does not include those