Can you afford to quit your job and be part of the Great Resignation?

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  • bwframe

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    HoughMade

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    I mean...maybe, but I don't get it. First of all, it's pretty clear that the overwhelming number of people who have been working (pre-pandemic) need to work. Unemployment, even under the pandemic amounts, let alone now that most of those are gone, are not spectacular.

    I know that different states have different unemployment benefits and some still have special pandemic benefits, so it would be interesting to see the places where people are dropping out vs. benefits. Seriously, where are these people? I don't know of anyone who is voluntarily unemployed.

    Anyhoo, it is not good to be idle regardless.
     

    gregkl

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    I'm right there with you Slim! I like eating.

    I like to know who these folks are also.

    I do know of a couple people who amassed a somewhat significant chunk of money by getting extra benefits, not being able to go out and spend money on what they normally do so they are sitting back and waiting a while before they re-enter the rat race.

    I guess I don't get that mentality. If I was able to get ahead due to the many circumstances surrounding us the past 18+ months, I would use that to feed my retirement accounts and get back to earning money.

    Theses folks will spend themselves back down to where they were when it all started, then realize they have to go to work. And probably complain that they can't get ahead.
     

    NKBJ

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    My job is taking care of my family and I can't let myself be taken down.
    With deference to Liang and Xiangsui, Americans halt their thinking at the boundary, beyond where technology has not yet reached. People are not looking over there into what for them is the forbidden (uncomfortable) zone.
    I have responsibilities so I will wait and see.
     

    gregkl

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    I'm a small business owner, so I doubt I'll be resigning any time soon. But in 15 years I will be shutting it down. Don't get me wrong, I like the work I do. I just like other stuff more ;)
    I get that. Unless you would do your job for no pay, you really don't like it as much as you think.;)
     

    bwframe

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    Nope, thats fine let folks leave. I can only benefit. Either I move up or out to a much higher salary.

    That part of it sounds good, but what about the bigger picture?

    How much does this "Great Resignation" effect the fledgling economy? The supply chain shortages? Prices at the gas pump and grocery? Inflation?

    Kind of like going to work in Chicago. You'll make noticeably more money, but actually the cost of living there turns that into a loss.
     

    eldirector

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    This referencing quitting your CURRENT job, and finding something more suitable. It does NOT reference going on unemployment.

    People are reassessing; due to vaccine mandates, travel restrictions, forced work-from-home, inflation, and a host of other reasons. They are reassessing in DROVES.

    We went thru this when my wife and I decided she would become our "Chief Domestic Officer" and be a full-time mom, housewife, and family planner. It meant she left the workforce and took on more important (to us) responsibilities.

    Folks do this all the time. The difference now is the SCALE. There has been so much disruption in the last 2 years that millions are asking "what am I doing here?". If they are FORCED to work remote, why not do something they actually care about? If their expenses are going up dramatically, why not find a job that actually pays the bills? If their kids will be learning at home, how can they get an adult there with them? In other words, the lifestyle of 2 years ago is GONE, and they are all settling into a new lifestyle.
     

    HoughMade

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    I completely get that, but when the headline is: "Can you afford to quit your job?" It sounds to me like they are not talking about people switching jobs....because what's there to "afford" about that?

    As for quitting to stay home with the kids, my wife did that in 1998. It's not new.
     

    BehindBlueI's

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    I completely get that, but when the headline is: "Can you afford to quit your job?" It sounds to me like they are not talking about people switching jobs....because what's there to "afford" about that?

    The downtime and the cost of admittance to the new job, as well as any gap in insurance coverage.

    Can you quit your forklift driver job to get a CDL and become an OTR trucker? Probably. Little downtime, hot hiring market, plenty of low cost options for required training and certifications, no need to move.

    Can you quit your forklift driver job to become a heart surgeon? Probably not.
     

    phylodog

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    Maybe what we are seeing is an unintended result of the past 18 months? The "great reset" is starting to look like it isn't going to be quite what the socialists/communists wanted. We are without a doubt one of, if not the most spoiled, materialistic and physically weak nations on earth. Perhaps not as many Americans are willing to give up freedom for comfort as some had hoped.

    Maybe not but this is what I'm hoping.
     

    HoughMade

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    Here's hoping!

    Anyhoo, if people are "dropping out" to get better jobs or jobs more to their liking, that's a positive thing overall, but I'm not sure that's what we're talking about.

    It would be great if it were. Maybe along with the move to home schooling, people are learning to live with less to do what really matters. I just don't have much faith that this is what is happening. That would, of course, cause either a recession or less economic growth a fuel a positive "reset".

    One thing I have noticed is that people need less money to live like proverbial "kings" many places. No or less cars, large cheap TVs, streaming entertainment, etc.

    [requisite old man voice]

    Not that long ago, only rich people had TVs over 27 inches. My family's first PC cost $3,000 and it was a cheapo clone. Food hasn't increased in price a whole lot since I was working in a grocery store from '86 to '89.

    Even horrific college prices- I spent $8,000 a year in the late '80s/early '90s. My #3 kid will cost (out of pocket) about 3+ times that, but 30 years have passed (The "book price" has gone up much more...but tell them you won't take loans, and watch the magic happen).
     
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