As the COVID-19 pandemic progressed, workers abandoned their jobs in record numbers. In 2020, as the virus tore through the economy, the labor force participation rate saw its largest drop ever, from 63.2 percent in the final quarter of 2019 to 60.8 percent in the second quarter of 2020, according to the Federal Reserve Bank of St. Louis, which also noted that the first year of the pandemic saw about 2.4 million “excess retirements,” involving people who in normal times would not have been expected to stop working for good. In November 2021 alone, according to the Bureau of Labor Statistics, a record 4.5 million people, nearly 3 percent of American workers, quit their jobs. As the end of the year neared, there were roughly 4 million fewer workers in the labor force than before the pandemic.
The industries hit hardest by the wave of quitting include tech, health care, and child care. The year 2020 saw 3.6 percent more health care employees quit their jobs than the previous year, according to the Harvard Business Review. According to the latest data available in December 2021, day care and education jobs were down 10 percent and 5.5 percent, respectively, from their pre-COVID February 2020 peaks. More than 1.5 million women were still missing from the labor force.
هذه القصة مأخوذة من طبعة March 2022 من Reason magazine.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة March 2022 من Reason magazine.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Libertarianism From the Ground Up
ARGUMENTS FOR LIBERTARIANISM typically take two forms. Some libertarians base their creed on natural rights-the idea that each individual has an inborn right to self-ownership, or freedom from aggression, or whatever-and proceed to argue that only a libertarian political regime is compatible with those rights.
Lawlessness and Liberalism
THE UNITED STATES is notorious both for mass incarceration and for militarized police forces.
Politics Without Journalism
THE 2024 CAMPAIGN WAS A WATERSHED MOMENT FOR THE WAY WE PROCESS PUBLIC AFFAIRS.
EVERY BODY HATES PRICES
BUT THEY HELP US DECIDE BETWEEN BOURBON AND BACONATORS.
The Great American City Upon a Hill Is Always Under Construction
AMERICA'S UTOPIAN DREAMS LEAD TO URBAN EXPERIMENTATION.
Amanda Knox Tells Her Own Story
\"OUR CRIMINAL JUSTICE SYSTEM RELIES UPON OUR OWN IGNORANCE AND THE FACT THAT WE DON'T KNOW WHAT OUR RIGHTS ARE.\"
Trade Policy Amnesia
WHILE HE WAS interviewing for the job, President Joe Biden demonstrated an acute awareness of how tariffs work. It's worrisome that he seems to have forgotten that or, worse, chosen to ignore it-since he's been president.
Civil Liberties Lost Under COVID
WHEN JOE BIDEN was sworn in as president in January 2021, he had good reason to be optimistic about the trajectory of the COVID-19 pandemic.
Bye, Joe
AMERICA'S 46th president is headed out the door. After a single term marked by ambitious plans but modest follow-through, Joe Biden is wrapping up his time in office and somewhat reluctantly shuffling off into the sunset.
Q&A Mark Calabria
IF YOU HAVE a mortgage on your home, the odds are that it's backed by one of two congressionally chartered, government-sponsored enterprises (GSES), Fannie Mae and Freddie Mac.