4 million people quit their jobs in April, say they can find better work


After a long pandemic lock down, people are assessing their employment situation. Many were fortunate to be able to work from home. They experienced the ease of meeting on Zoom, watching the kids at home without having to hire childcare, and no commuting in traffic.

Many realized that job duties can be accomplished from working at a remote job instead going  to an office every day. Remote work is here to stay for many, and people can work from anywhere remotely.

As offices start to open and people get back to work there are a lot of job openings and new opportunities for job seekers. As companies look for new workers, the say they are having a problem finding qualified workers. Job seekers see the opportunity to jump ship to another firm with a higher salary. Strong hiring demand could benefit workers, but this may be temporary, as more get vaccinated, unemployment ends, and workers must get back to work.

Still, 15.4 million Americans remain on unemployment benefits in the U.S and approximately 11.6 million people have to rely  on  COVID-19 pandemic programs created by the CARES Act.

“For hourly workers and lower-salaried positions, location is one of the biggest — and often underestimated — drivers of effective recruiting. Research has shown that minor geographic differences in available talent and open jobs, even in the same city, can lead to higher unemployment.” Reports The Harvard Business Review.

The research report published Indeed said  those seeking jobs rose dramatically after public announcements of broad-based wage increases, though interest faded over time. Companies are raising wages. Amazon  announced to raise pay, and Bank of America  said  that it would raise its minimum wage to $25 by 2025.

The number of job openings reached a series high of 9.3 million on the last business day of April, the

U.S. Bureau of Labor Statistics reported today. Hires were little changed at 6.1 million. Total

separations increased to 5.8 million. Within separations, the quits rate reached a series high of 2.7

percent while the layoffs and discharges rate decreased to a series low of 1.0 percent. This release

includes estimates of the number and rate of job openings, hires, and separations for the total nonfarm

sector, by industry, by four geographic regions, and by establishment size class.


The Harvard Business Review also reported, “Adjusting your salaries to the cost of living is a good starting point. Since 2020 alone, real average hourly earnings have decreased by more than 3%. One organization we worked with had been offering their service representatives the same salary of $30,000 annually for the last 20 years. The organization’s CEO was shocked to realize that the current inflation-adjusted salary would be $45,000 and increased these wages to precisely that number. In the past months, some large employers like Amazon, Bank of America and McDonald’s have followed a similar approach, and by our estimates increased the salaries of well over 500,000 workers.”

Follow us on Google news for more updates and News


This content is being provided to you for informational purposes only. The content has been prepared by third parties not affiliated with CWEB Inc, a business. This content and any information contained therein, does not constitute a recommendation by CWEB to buy, sell or hold any security, financial product or instrument referenced in the content. This information neither is, nor should be construed as an offer, or a solicitation of an offer, to buy or sell securities by CWEB Inc. CWEB Inc. does not offer or provide any opinion regarding the nature, potential, value, suitability or profitability of any particular investment or investment strategy, and you shall be fully responsible for any investment decisions you make, and such decisions will be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance, and liquidity needs.

Unless stated otherwise, the web content provided by the CWEB family of companies is for educational purposes only. The information and tools provided neither are, nor should be construed, as an offer, or a solicitation of an offer, to buy or sell securities by CWEB Inc. or its affiliates. Unless stated otherwise, no information presented constitutes a recommendation by CWEB Inc. or its affiliates to buy, sell or hold any security, financial product or instrument discussed therein or to engage in any specific investment strategy.

Full Disclaimer