Biden's labor secretary says the Great Resignation won't last: It'll work itself out as people and companies figure out what they want from work
Walsh pointed to a conversation he had with company leaders months ago who"were saying a lot of the mid-level managers who do really well and earn high in six figures, they wanted different work life balance," Walsh said."A lot of those folks who left the job market will come back into the job market and a lot of lower income workers, are quitting, but they're also looking for better opportunity.
That's one reason why the number of workers quitting is still so persistently high, according to Walsh, with 2.7% of the workforce leaving in August. People are"still looking for better opportunities, and I think there are job openings out there and people are seeing that and they have an opportunity to jump to a new job," Walsh said.
But the most recent data on jobs shows that while hiring is still robust — in September, the country added 263,000 jobs,— the labor market recovery has normalized a bit, with no huge fluctuations in jobs added and the sky-high number of job openings cooling a bit. Even so, Walsh said that power is still in the hands of employees.
"A lot of companies are realizing now how to try and keep their employees. If you're an employer and you have a good employee, you don't want them to leave. So I think a lot of companies are being creative now," he said, whether that's through creating new hybrid schedules or other measures of flexibility. After all,
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