Almost 48 million people quit their jobs in 2021. Where is everybody? We explain why workers that quit in droves during the pandemic have not come back.
In recent years, the movement of the baby-boom population into age groups that typically exhibit low labor force participation has placed downward pressure on the overall participation rate."We have seen a significant amount of retirements," says Alex Lin, Senior U.S. Economist with Bank of America.
During the pandemic, Góngora experienced prolonged uncertainty and anxiety with little to no income to pay for his family's bills. "At this point in time, I knew technology isn't what I wanted to choose as a career path anymore. I wanted to work more closely with children, so I'm doing my child development and going back to school," she says.
Stacey Waldspurger, a former ad executive-turned-baker started selling bread and pastries from her home kitchen a year after the pandemic began. "During the pandemic, as I was taking care of the kids, I was also racking my brain on what kind of next career move I was going to make, meanwhile I was baking as a nervous habit, gifting to friends and family." she said.
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