Thu, Sep 29, 2022 12:00 PM – 1:00 PM EDT
For the first time in the modern history of the United States, the availability of labor is a major constraining factor in industries’ ability to meet market demands. In response to the COVID-19 pandemic, the United States and most industrialized nations precipitously shut down major sections of the economy. This was done out of an abundance of caution, but with little perspective nor projections on the middle to longer-term impacts of these decisions. In order to protect and stimulate the economies, federal and state governments then enacted significant economic stimulus packages that simultaneously paid employers to maintain jobs while paying employees not to work. The unintended consequence has been titled the “big quit” or the “great resignation” as millions of employees have changed jobs, companies and industries – and even left the workforce altogether.