ADVERTISEMENT

WaPo: Record Number of Americans Quit their Jobs in August

1. Trump was talking about opening the economy back up starting around Easter of 2020. Biden and his cohort Democrats on the other hand preached throughout the 2020 campaign year about the “Dark Winter,” covid body counts and beating the virus before opening the economy. Trump (and some GOP governors) was absolutely correct about shutdowns. Biden yapped about wearing a mask when walking your dog. Millions of anxiety-ridden people are still scared, that affects the economy, and I blame Biden.

2. Hundreds of thousands of containers full of goods from China are waiting to be unloaded and distributed at all of our largest ports. Do you really expect anyone to believe those Chinese good waiting at our ports is the result of the trade war?
Not to worry about #2. Our future-President-Secretary-of-Transportation, Mayor Pete, has it all under control.
 
  • Haha
Reactions: Joe_Hoopsier
The reasons people are leaving jobs likely to be political right now. People are quitting over vaccine mandates.
The pandemic has caused many in low paying jobs with no benefits to re-evaluate their choices, with many going back to school or other training, and a lot of younger professionals realized they wanted to do something else, so they left their job and took a pay cut to do something more meaningful. And yes, I’m sure a lot of nurses realized they weren’t cut out to be in the healthcare field, so they left when confronted with their employer mandating vaccinations.
 
I saw the Baron's story below which brings up an idea I haven't seen mentioned. There are a lot more accounts on sites like Robin Hood today than before the pandemic. There are many more people trading cryptocurrency than before the pandemic. A quick web search shows online gambling has gone way up since the pandemic began. We may be seeing a change to people looking at this as their income source and not working. It seems to me there would be advantages IF one can make enough, no commute, no childcare expense, no boss, better taxes (no FICA).

 
I saw the Baron's story below which brings up an idea I haven't seen mentioned. There are a lot more accounts on sites like Robin Hood today than before the pandemic. There are many more people trading cryptocurrency than before the pandemic. A quick web search shows online gambling has gone way up since the pandemic began. We may be seeing a change to people looking at this as their income source and not working. It seems to me there would be advantages IF one can make enough, no commute, no childcare expense, no boss, better taxes (no FICA).

People who think they’re going to make a living gambling on Robin Hood or the Casino are mostly going to end up homeless on welfare.
 
People who think they’re going to make a living gambling on Robin Hood or the Casino are mostly going to end up homeless on welfare.
I'm not going to disagree with that. There is a term, casino economy, that is often used to describe modern America's economy. It seems more people think they can beat the house.

I don't know if I've ever met anyone who admits to losing money gambling. I suspect the same is true with day trading and crypto trading.
 
  • Like
Reactions: stollcpa
I'm not going to disagree with that. There is a term, casino economy, that is often used to describe modern America's economy. It seems more people think they can beat the house.

I don't know if I've ever met anyone who admits to losing money gambling. I suspect the same is true with day trading and crypto trading.
I have clients with gambling issues. Rather than preach to them, I maintain a year by year summary of their net losses as reported on casino won/loss statements. I insert the information in bold print on the first page of their tax return instruction letter.
 
I have clients with gambling issues. Rather than preach to them, I maintain a year by year summary of their net losses as reported on casino won/loss statements. I insert the information in bold print on the first page of their tax return instruction letter.
Hey, isn't coming to you for tax advice enough of a gamble?
(I keed, I keed.)
 
I'm not going to disagree with that. There is a term, casino economy, that is often used to describe modern America's economy. It seems more people think they can beat the house.

I don't know if I've ever met anyone who admits to losing money gambling. I suspect the same is true with day trading and crypto trading.
At least they'll always have DoorDash to fall back on when their gambling losses catch up to them.
 
I saw the Baron's story below which brings up an idea I haven't seen mentioned. There are a lot more accounts on sites like Robin Hood today than before the pandemic. There are many more people trading cryptocurrency than before the pandemic. A quick web search shows online gambling has gone way up since the pandemic began. We may be seeing a change to people looking at this as their income source and not working. It seems to me there would be advantages IF one can make enough, no commute, no childcare expense, no boss, better taxes (no FICA).

Correct. Personally, my entry into the world of Crypto has been life changing. For that I have Eppy and BallerBoogie to thank. Dogcoin, Bitcoin, Messi's coin, Ether - all growing. The next step is to familiarize myself with how to access whatever it is I own and spend it - hopefully it's not limited to Minecraft upgrades and things of that nature.
 
Last edited:
In higher ed we are experiencing a huge exodus of administrative assistants (what used to be called secretaries). It isn't due to vaccine mandates, though we have them. I think we did lose one person to that policy. For most it is due to the fact that they discovered that they can work remotely, at home, very effectively. Yet their employer is now asking them to return, in person. Other employers, however, are reaching out to them and giving them the opportunity to work remotely, often at a higher salary.
 
Correct. Personally, my entry into the world of Crypto has been life changing. For that I have Eppy and BallerBoogie to thank. Dogcoin, Bitcoin, Messi's coin, Ether - all growing. The next step is to familiarize myself with how to access whatever it is I own and spend it - hopefully it's not limited to Minecraft upgrades and things of that nature.
I think you can buy burl and ambergris with it.
 
In higher ed we are experiencing a huge exodus of administrative assistants (what used to be called secretaries). It isn't due to vaccine mandates, though we have them. I think we did lose one person to that policy. For most it is due to the fact that they discovered that they can work remotely, at home, very effectively. Yet their employer is now asking them to return, in person. Other employers, however, are reaching out to them and giving them the opportunity to work remotely, often at a higher salary.

Supply vs. demand. How naive were stringent immigration enforcers and welfare dumpers?
 
  • Like
Reactions: DANC
LOL, anyone can make money in a market that goes up. Let's see your average person that was making $50K/year or less, profit when things hit the fan.

Yep, and of course if the market tanks it probably will be because of some bigger malaise and jobs won't be there for them. Oh, and as investor class they aren't paying into unemployment.

IF this is happening it might end poorly for a lot of people. Unfortunately, Gamestop may have taught a lot of people that it is real easy to make money.
 
  • Like
Reactions: JamieDimonsBalls
Correct. Personally, my entry into the world of Crypto has been life changing. For that I have Eppy and BallerBoogie to thank. Dogcoin, Bitcoin, Messi's coin, Ether - all growing. The next step is to familiarize myself with how to access whatever it is I own and spend it - hopefully it's not limited to Minecraft upgrades and things of that nature.

It's all about Shiba right now.
 
  • Like
Reactions: mrhighlife
Again, the data do not tell us how many left the workforce and how many moved to other jobs. The number of open jobs actually declined.

We also, importantly, don't know how many of those who left for other jobs moved to jobs in the same sector. A bunch of people quitting service jobs to move to better-paying service jobs represent much less of a disruption than people quitting service jobs to become landscapers.
"The number of open jobs ..."

So did the number of people wanting/having to work.

If the gov. keeps paying people not to work, common sense says you don't work, & many aren't.

Now, if they can just pay off their college debt!



My dad told me about work, finding the right/a job & money/survival: When you get hungry enough, you will work.


The good old days

:O
 
Yep, and of course if the market tanks it probably will be because of some bigger malaise and jobs won't be there for them. Oh, and as investor class they aren't paying into unemployment.

IF this is happening it might end poorly for a lot of people. Unfortunately, Gamestop may have taught a lot of people that it is real easy to make money.

And I'm sorry, but those people don't deserve to ever collect unemployment or other forms of welfare. At some point, people need to be held accountable for their own actions and subsequent consequences.
 
ADVERTISEMENT
ADVERTISEMENT