What Does the Great Resignation Mean?

Last year, the U.S. Bureau of Labor Statistics announced that 4.5 million Americans, or 3% of the entire workforce, quit their jobs in November of 2021.¹

Although shocking at the time November was just another record-breaking month in a string of record-breaking months. Named "The Great Resignation" by many, this phenomenon can be seen across nearly all industries.

Historically, it's common to see a surge in worker resignations when the job market is tight, and there's a cornucopia of open positions. But what's happening now is unlike anything economists and pollsters have seen before.

As financial and employment experts continue to debate the root causes of this exodus from the workforce, it can be difficult to visualize the full scope of the Great Resignation. Here are some surprising facts that may help:

 Additional facts you might find interesting:

• 309,000: women 20 and older who dropped out of the workforce in September
• 182,000: men who were added to the workforce in September
• 48 percent: the share of America's working population actively looking for a job or watching for opportunities³

^Sources:

1. https://www.usatoday.com/story/money/2022/01/04/great-resignation-number-people-quitting-jobs-hit-record/9083256002/
2. https://www.washingtonpost.com/business/2021/10/13/great-resignation-faq-quit-your-job/
3. https://www.gallup.com/workplace/351545/great-resignation-really-great-discontent.aspx
4. https://theweek.com/jobs-numbers/1006060/the-american-great-resignation-by-the-numbers
5. https://www.wsj.com/articles/labor-shortage-missing-workers-jobs-pay-raises-economy-11634224519?mod=hp_lead_pos5
6. https://theweek.com/jobs-numbers/1006060/the-american-great-resignation-by-the-numbers
7. https://theweek.com/jobs-numbers/1006060/the-american-great-resignation-by-the-numbers
8. https://theweek.com/jobs-numbers/1006060/the-american-great-resignation-by-the-numbers
9. https://theweek.com/jobs-numbers/1006060/the-american-great-resignation-by-the-numbers
10. https://theweek.com/jobs-numbers/1006060/the-american-great-resignation-by-the-numbers

Daniel S. Miller, Kaleb Robuck, and Marcus Taylor are investment adviser representatives of, and securities and advisory services are offered through, USA Financial Securities Corp. (Member FINRA/SIPC). USA Financial Securities is a registered investment adviser located at 6020 E Fulton St., Ada, MI 49301. Miller Financial Group is not affiliated with USA Financial Securities.