Is this really an issue? I understand that labor participation is high and that’s terrible. I don’t think this number means that people just quit their jobs and didn’t get another one. What’s wrong with people quitting their crappy job and finding a better one?
A high resignation rate coupled with low unemployment rate generally only means that the economy is pretty dynamic in terms of employers competing for qualified employees and those people who have reasonably strong credentials and a positive view of the local area economy are more willing to step out for a new opportunity. When you add a low participation rate to the mix it gets more complicated. It could be that the welfare state is too rich and lower class people are more willing to just not try to stay employed. It could also be that more married people with kids are choosing to have one parent (usually mom) stay at home full time with the kids – and if they can afford to do that many folks would view that as a positive thing. It can also be that a larger percentage of the population is older, and thus retiring out of the workforce – and when you have a high net influx of out-of-state retirees moving in, that certainly decreases the overall population participating in the labor market. I think our situation combines a bit of all 3 factors when it comes to our participation rate. Inflation can also cause the labor participation rate to increase – a retiree or stay at home parent has to go back to work because the nest egg is going to be depleted too quickly or the one working parent’s earning just can’t make ends meet anymore. That is, of course, not a desirable situation. Bottom line, the labor participation rate isn’t automatically or consistently a good or bad thing just because it goes up or down – one has to look at the “why.”
Well, not everyone can grift off the career of a “news outlet” blahgger writing the same rants over and over again whilst sitting at home in his shorts scratching his nuts.
6 comments
Is this really an issue? I understand that labor participation is high and that’s terrible. I don’t think this number means that people just quit their jobs and didn’t get another one. What’s wrong with people quitting their crappy job and finding a better one?
Of course, heads families and single educated women are quitting their jobs to move the heck away from SC.
GQP policies in action.
you haven’t been to Charleston lately?
A high resignation rate coupled with low unemployment rate generally only means that the economy is pretty dynamic in terms of employers competing for qualified employees and those people who have reasonably strong credentials and a positive view of the local area economy are more willing to step out for a new opportunity. When you add a low participation rate to the mix it gets more complicated. It could be that the welfare state is too rich and lower class people are more willing to just not try to stay employed. It could also be that more married people with kids are choosing to have one parent (usually mom) stay at home full time with the kids – and if they can afford to do that many folks would view that as a positive thing. It can also be that a larger percentage of the population is older, and thus retiring out of the workforce – and when you have a high net influx of out-of-state retirees moving in, that certainly decreases the overall population participating in the labor market. I think our situation combines a bit of all 3 factors when it comes to our participation rate. Inflation can also cause the labor participation rate to increase – a retiree or stay at home parent has to go back to work because the nest egg is going to be depleted too quickly or the one working parent’s earning just can’t make ends meet anymore. That is, of course, not a desirable situation. Bottom line, the labor participation rate isn’t automatically or consistently a good or bad thing just because it goes up or down – one has to look at the “why.”
Well, not everyone can grift off the career of a “news outlet” blahgger writing the same rants over and over again whilst sitting at home in his shorts scratching his nuts.
do you wish you were scratching his nuts? Nikki used too.