The Truth About "The Great Resignation" - How Money Works
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- Опубликовано: 30 сен 2024
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You have no doubt seen news headlines and other videos about “The Great Resignation” accompanied by equally alarmists statistics like 40% of people are about to quit their job and April alone saw over 4 million people hand in their resignation.
Now this news could be incredibly frightening or liberating to you depending on whether you are a stressed out business owner or soulless corporate automaton respectively, but before you read too much into it (or worse yet base major career decisions off of it) you should know the full story.
So is this a serious event in the landscape of employer employee relationships? Well those of you who watch the channel regularly will know I hate dragging out an answer… so no, not really, not to vast majority of you watching anyway.
Sorry to be the party pooper, but there are a few big issues that most outlets are omitting in their coverage of this story, either unknowingly or intentionally to make this all sound more spectacular than it really is.
#TheGreatResignation #HowMoneyWorks
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I'm also quitting my job this month after 4 years as I haven't gotten even a 1% raise during that time. I sent resume and was offered 35% more, so screw loyalty.
I mean yeah o.o They expect you to either get promoted or leech off someone else every 2-3 years o.o not switching jobs doesn't make someone value you more, it seems.
Loyalty shouldn’t be a thing companies are there to make money and make their shareholders happy
Good for you. Not even a standard of living raise in 4 years is ridiculous. My company gives a 3% raise every year to account for inflation and I thought that was too low.
Thats how it is. Businesses will not be loyal to you with raises and bonus's in most cases. After 4 years, you have a LOT more experience and a much more valuable active skillset, thus are worth more. You should be shopping around for better jobs every year or 2 in my opinion.
hmm sp 35% more is considered low? When you work for state employee soo
They ain't quitting, they're simply changing to a better job to improve their lives, good for them!
I knew a lot of people who quit and are now working a better job with a higher hourly pay wage and they're happy. I'm resigning in March of 2022 I'll be going into full time delivery, I'm simply walking away from 6 years of a stressful environment, depression, sadness, and dealing with chaos 5 days a week and waking up at 2:00am doing the same routine. To working independently while being stress free and working at my own pace.
@Peter Nguyen Employer's will just replace you, loyalty means nothing to them. When you work hard they treat you like garbage, there will always be favorite employees while you're the slave working to make someone else rich for just weekly portion paychecks.
I try explaining this to my family, they are too ignorant, stupid to comprehend this
That still involves quitting lol
I understand that you object to the negative connotation of "quitting" - I Just wonder how millions of people can improve their job status by changing jobs.
Are there so many new openings at the top that this is all a trickling down, does the job pyramid suddenly change its shape - or did most of them just swap jobs with one another and will wake up to see that things are different but not actually better than before?
The reason people quit is because companies don't care to offer raises. Why stick around for a 3% raise when you can go to a new company that will give you 10-20%.
when you work for government or in the state public... you dont get 20% raise and you still stay
Doing the same job doesn't really justify a "raise." Companies do need to make sure you get "more" to cover inflation. If your performance is increasing each year, then you're due a true raise. But if you walked in the door with expertise and could already output that maximum from the start, the wage you should have started with should be the wage you are still getting paid in the future. Wages may go up if technology improves the efficiency of your work, but only after the technology cost is paid off also.
@@cautarepvp2079 I always got raises at my government jobs. Bonuses were frequently paid too. It really depends on how replaceable you are.
I'm not certain it's the case but yeah it sure seems like companies are willing to entice new hires more than retain current workers. Might be for some types of work people are more efficient as newer employees (new environment so happier?) and as they're there longer their efficiency goes down. Heard Amazon pushes warehouse workers out after 3 years because they're more expensive and less productive.
Exactly
I love everything about this channel, but the best part is: "I hate dragging out an answer". Thanks for that!
Be the change you want to see in the world right?
And I still stick around to watch the end of the video anyways. That’s how you know it’s good content
Exactly the reason why I watch his videos till the end
@@Mr__Altair that makes two of us
@@HowMoneyWorks a man of culture i see 😃
For me, @6:25 a super valuable point in this video was showing the steps of how a little piece of questionable data from a fairly leading question gets eventually oversimplified into an alarmist headline that people treat as hard evidence. That brief sequence in the video is an excellent illustration of the way likely most studies are reported in the media.
Love your content Alex! :) thanks for supporting the channel for a bit now
@@HowMoneyWorks You have a great channel, man. The sky is the limit. I’m a huge fan.
It’s gotten to the point that reading about a study in the press is almost a sure way to get things wrong. The study is likely wrong. Then, the journalist is likely getting what it says wrong. If we are still anywhere near the truth, the reader is going to totally misinterpret what they are reading.
@@nunyabidness3075 the media reinterpret the experts and science and if challenged you are an idiot for doubting the “experts” by all the gullible idiots that believed them.
Its like a terrible game of telephone that has an outside source that will pay you for mishearing the message.
I left one job for another in the last year and actually took a pretty heavy pay cut, but gained a much better quality of life with better time off, a day shift schedule, and a wide open promotion track because of a retirement spree. It's not always about the money.
THAT is something that Americans should consider more often! I lived in England for a while, and had a very long term extended vacation in Germany. People in those (and most other) countries probably have a higher quality of life than Americans. WAY more time off from work- government mandated so businesses can't simply decide not to allow it. Mandated medical leave with pay. Much more in the way of worker protection laws. NOW, if all someone cares about is big cars, big houses, extra wide roads, and big portions in restaurants, then USA wins, hands down. But if you would like to spend more time with your kids, have lower rent, have more vacation time annually, not have to go to work sick, and have better medical care, most industrialized nations now beat USA. BTW- before someone says it- I DID try to move to England AND to Germany, in both cases they have a lot in the way of quaifications to get in, unless you have refugee status. I am now actively looking at The Philippines
Well put! I'm a teaching assistant at an elementary school! It's a permanent Job and I love it so much. I'm 21 and have worked in restaurants since I was 15. I won't be making tips, but I'm never looking back. I have paid vacation, salary and garenteed salary increase every year. I've worked my butt off for a job like thus and I finally have it. Now I actually have time to perform better and finish my degree to become a teacher. ❤🥺
@@teresac-n4214 Good luck to you! Something you mention here is also important- job security! I was in private sector for many years, and many times got no pay raise, or even shortened hours in the same year when my boss bought a new airplane for himself. And about the first WEEK a company loses money these days, the owners declare bankruptcy to keep their personal wealth intact.
I agree. I'm willing to take a pay cut to have a better quality of life. At this point, I'd rather live frugally and have more time to spend with family or hobbies than work long hours for more money and have less personal time.
@@LimewirePirate Right on. Have you ever heard anyone, ever, say on their death bed: "I wish I had spent more time in the office." ?
I actually know alot of mechanics and other tradesmen that are leaving major companies to work for themselves as the benefits offered by pretty much all of the corporations are pathetic. Why make $20/hr and get health insurance that makes healthcare more expensive somehow, when you could charge $60/hr to undercut your former employer and maintain your benefits yourself?
My company bills me out at 120/hr. I’ll ask for 100/hr and still undercut them like crazy.
Working for a big company now, but once I get my FSR I can pull permits (all I need to do is take the test) and I can start my own business and since I work with TONS of enterprise level customers who ask for me by name when they have problems I have a feeling as long as I’m insured I can undercut their service agreement and maybe get all of the tenant improvement with them.
Wifey often has a job with good benifits
Corporations used to be the middle man that connects the mechanic with the customer. Considering most mechanics had to pay for their own tools, it became increasingly obvious they were being exploited in various ways in exchange for this connection.
Now that you can connect with anyone via the internet, and with people becoming more tech savy (one of my friends who 3 years ago couldn't turn on a laptop now runs google ads) it makes sense to cut out the middle man.
This is why Amazon fosters an environment that forces an employee to quit in 3 years. Bozo figured out that the average employee "becomes lazy" after 3 years and applauds turnover. All metrics
Bozo 😂
It's easier to beat new horses.
there is also a chunk of baby boomers that were close enough to retirement to say "it isn't worth dieing".
True, I am sure this isn't a small factor either.
I’ve seen this largely effect my store as about half the staff are boomers near retirement. At least half of them quit in the first few months of covid lockdowns.
Yes, I am at the end of the baby boomer generation, and am retiring next month. 😊
Many of my older family and friends went ahead and retired.
lol i dont think you have met many boomers. most dont believe the pandemic is real lmao.
Working from home is the only thing that makes my job tolerable. When they call us back to the office, I will seek employment with another company that allows work from home.
LOL! This. They want me to come to work in Ft Lauderdale, FL when half the county is down with Covid. Scrambling for a job now. I'm not going back.
Same. They are trying to send us back in October.
Word 👍🏻
I didn’t get that luxury sadly (wish I did!!) since I work for an elementary school with special needs kids. The schools are lying to staff and parents about social distancing protocols, because they can’t realistically keep them with many of the staff members especially in the paraeducation / SPED field 😩
@@Questionablexfun I am sorry to hear that. Your work is very important and I wish you and your peers were fairly compensated.
That whole "can't quit to go work at a competator" thing thr Americans do is insane to me. If I'm quitting a job I don't give a fuck where they think I can go work afterwords
Yup, its got me in a bind as a technical person. I dont just have to change jobs..... I have to change industries and start from the bottom again.... Think about that.
@@hepthegreat4005 you can get out of it. As long as you don’t use their proprietary knowledge. They have to prove you used their stuff to advance their competition
@@hepthegreat4005 so you can argue that you would starve if you dont get a comparable salary. Thus you are able to work for a competitor because that's the only comparable salary
Kill em.
@@hepthegreat4005 here in France those clauses are not even legal... if they want to prevent you from going to the competition they need to pay you ...
I stayed unemployed for as long as possible during the pandemic. Not only do I live with an elderly person with compromise immunity, but why would I go back to working in a kitchen for $13/hr when I could make more money than I’ve ever made working just by sitting at home and letting the unemployment come in? It’s not because I’m lazy, it’s because I’m not an idiot. I enrolled in school online and have used the unemployment money to save up and better my situation so that I could get an education and I wouldn’t have to go back to those awful jobs.
Now that unemployment is up, I’m working the gig economy full time. I don’t actually like it as much as working around other people, but it pays better than any other job I’ve ever had (besides being unemployed). The retail and restaurant industry can get stuffed. This is what happens when you treat your employees like disposable dirt. They get fed up, and leave as soon as they have the slightest bit of leverage. I will never go back.
Good for you.
I support your efforts.
The meaning life is slowly moving away from the dogma of the Protestant work ethic, to the more fulfilling personal work ethic where the desire for someone to work is not that of risking starvation or homelessness, but of personal fulfillment. Hopefully one day in our lifetimes everyone can make that transition if we all strive to that level.
Don’t let anyone talk you down or call you lazy, workers of the world unite.
@@InevitableTruth247 get ducked with red-hot-poker, Commie.
@@AKUJIVALDO lol that final quote always gets people
Answer is usually "No but maybe so let's talk about it."
My channel in a sentence.
That's the best part and why we're here, the discussion.
Standard headlines. Bringing the calm back to the crazy sensationalist world we live in. Good work. 🙌
I quit my job before it was trendy 😉
Is this this a criticism of the video or support?
You Hipster, you! 🤭
@@Our_Family152 support.... standard headlines are exaggerated to be catchy, poster brough 'calm back to sensationalist world'. The 'good work' was supportive.
Quit my job in retail a month before the lockdown since I saw what was coming. Went to a coding boot camp and am now a fully remote software engineer making 3x my old salary working half the hours, and am able to live where ever I want. Couldn't be happier
That's awesome! Yeah I'm a freelancer as well, it's awesome
What coding boot camp do you guys recommend? Pls lmk :)
What coding bootcamp you recommend and which coding language?
How long did it take for you to get your current coding job? Also, could you elaborate in what coding language(s) are you working and the type of work you are doing?
How long was the boot camp and how long were you looking for a job afterwards?
Left my job earlier this year. Left for a similar job with similar pay, however the social environment is WAY better. Best move of my life
What did you leave from and to?
I think seeing the "great unemployment" as a blanket term for every sector is probably wrong. In the hospitality and retail I feel like we're experiencing a big walk out, I for one finally broke free of retail hell recently and it certainly seems for shops and resteraunts that there's a shortage of staff, and no one is jumping to fill the void.
On the opposite side of things I know people who are making big career shifts. Someone I knew who worked at a law firm has quit because they hated their job and has moved to something for lower pay. Definitely not true for everyone but I imagine a lot of people have had a year's worth of perspective to rethink their careers while being stuck at home.
I totally did rethink. My entire life actually. It's been hard, but I also think it put into perspective a lot of things I used to take for granted or that I thought were good for me. Commuting literally took its toll on my well being. I really enjoy working from home, managing my time, living a simpler life. I wasn't able to see how damaging and toxic the rat race was.
No but 100% of people say "fuck it. Fire me" at least one time when they wake up at 5am to go to work
I resigned last year and got a better job, it’s easier to switch companies now most are remote. I’m already planning to switch again in the next 12-18months, fuck company loyalty.
As someone who always was loyal and respectful and if did quit I’d give a 2wk - month notice only to one day just be let go for asking for detailed paystub just manifest that energy more. Never let anyone get their money’s worth from you because they’re stealing anyway. And when your ready to go, just go, because they’ll do the same to you when they’ve sucked you dry.
@@Anonymous-jy5ew few companies actually care about their staff. My advice to anyone reading this is NEVER feel guilty for leaving a company, they’ll drop you like a rock if it served their goals. Stable careers are dead and corporations killed them.
What did you do
I disagree serve that co.like a modern serf. I'm kidding fuk being treated worse than human should.
I quit my job with nothing lined up when our CEO wanted everyone back in the office. Accepted an offer three weeks later for 25k more, 100% remote, and more PTO. Obviously, not everyone can take a risk like that, but if you have in-demand skills and experience in your field it's worth testing the market. Sprinkle in a STEM or business degree and you'll be good in this market as long as you can sell yourself.
I'm always amazed on how many job openings right now during this time, like almost everywhere you could quickly pick up a part time job with little to no effort. Then the boss would expect you to work full time by taking advantage of your availability to the point you get sick of them and quitting.
Exact thing happened to my wife. Got hired part time accepted 20-25 hrs a week. A week after getting hired she inadvertently found herself staying later and later until she reached full time hours. She was told it was only temporary. And a month later she quit. They literally milked her due to other employees quitting or not showing up. Ridiculous
"Not unless your a horrible manager at a horrible company."
I wonder how many people rolled their eyes and thought of their boss like I did.
I actually quite my job a month after my state locked down and got a new one, better hours and more pay. My mom just quite her job because she can finally move back home and get paid more.
Nice work, best of luck to both of you in your new roles :)
*Quit :)
This is basically what I thought was happening when I saw that headline for the first time, "40% of people are leaving their jobs? Doesn't that just mean that they're planning on getting a different one, people still need money don't they?"
Not if the government is just printing free money.
@@ShapeshifterOS ye but government doesnt give you that money
@@cautarepvp2079 They have been for the last 1 1/2 years. Best time of my life, booze and parties every other day. Courtesy of the tax payers
@@souljacrunk I don't know the laws of USA, but at least in Spain the only way for you to get unemploment is if you lost your job through external factors, aka if you quit you don't get it.
I quick Google search tells me it varies from state to state, as most things do in the USA, but on the Department of Labor the first thing it says is that one of the requirements is usually: "Are unemployed through no fault of your own. In most states, this means you have to have separated from your last job due to a lack of available work." So it seems quitting doesn't qualify you in most states.
Am I missing something? If I'm not, 40% of employees could be quitting, but most likely none of them are doing it for the unemploment benefits.
@@LuisSoto-fw3if Your right that the majority of the 40% wont be leaving for unemployment. But there are a portion that would leave for government benefits instead. Might not specifically be unemployment. But we have tons of other programs that essentially give you free food and shelter that only requires you to make below a certain wage. These programs even go as far as too exempt you from taxes or a large portion.
So knowing that peoples money is devaluing and being taxed more and more. Many are saying why work when the government will provide.
I think one thing the alleged "great resignation" and the pandemic lockdown may have done for some workers is to let them know that they have options. At one time I and a lot of people I know felt we were married to one job, and had to take any kind of crap and horrendous work conditions that we were asked to. Then lockdowns, etc. and no one I know died as a result of it. Most people only had transient financial problems, many found that they could work in the gig economy and do about as well as they could punching the clock, even with benefits considered at the more conventional jobs. So management may need to tread a bit more lightly in some cases, as a lot of people have learned they do have alternatives.
Half my dad's bloodline died.
@@mikemcbeth3216 from losing their jobs and going hungry?
He meant because of the lockdown, not because of the disease (I thought)
@@kanucks9 You are correct. I think Mike was talking about people dying from COVID, I was talking about from the lockdown.
@@kanucks9 Don't be like this... the disease was brought up and shutting down what they said was really just rude in general.
After 8 1/2 years, i resigned from my job in the spring, stunning everyone. When companies don't go out of their way to reward top performers, top performers move on. It's as simple as that. And no, i didn't quit to move to another job. Maybe eventually i'll get around to that or one will fall into my lap. Or maybe i'll try something different.
The economy hardship, recession, unemployment and loss of job caused by covid pandemic is enough to push people into financial ventures.
I wanted to invest more on digital Digital currency (crypto) but the fluctuations in crypto value discouraged me into dumping.
wow I'm just shock someone mentioned and recommended expert Mrs Mitchell Roland, I thought people don't know her.... She is really good and awesome !
Mrs Mitchell is obviously the best broker. I invested $4,500 with her and she made me profit $48,100 in 2 weeks and 3 days. It was mind blowing.
I've heard of her trading prowess.
Due to recent volatility in crypto value, I had some loss which depreciated my Doge coins XRP Because I was holding.
I need her info so I can start trading with her...? How can I get her...? 🙏
To put it simply, companies have been taking advantage of workers for as much and for as long as they can and people don’t want to put up with it anymore.
I bet companies that don’t have turnover problems actually treat their employees at least decently.
You should try watching the video.
No try watch the video
Company loyalty kills competition, it's healthy for the labour market if you "shop around" for better offers.
I'd argue the opposite
A loyal company to its employees well
Should get the same customers bacce but they the heads of the company are going for the lowest person to get mony from.
So one thing is expected for employees but not for the people we sell to.
The workers see through the bullshit
We can't give you a increase
So naturally workers work for the highest bidder out their and qualified employees leave and always every 4-5 years go for the highest pay.
They train talent (1000$$ of training out the door) to leave the company for better pay than keeping the folk
Stupid in my book
Now is the best time to start a career oddly. I've gotten pretty decent job offers, hope it goes well and that I can break the cycle of the revolving door economy.
I hate to burst your bubble but you WONT break the cycle of the revolving door economy. That ERA has been killed by Globalism and Boomer execs LONG ago. Structure your life accordingly.
Glad to hear it. Planning on quitting soon and taking the Krabby Patty secret formula with me.
Why if you do that you'll live like a king!
These jobs have become unbearable over my 40 yr working career. I really feel for young people. Good luck buying a home, paying off student debt, or affordable healthcare. Besides the percentage of trustfund kids- I still have faith in this younger generation. As more of them appear to be waking to this system.
Thank you for belonging to the generation that screwed everything for us!
Guess we will now dine on your sympathy and house ourselves inside your big, feeling heart.
No wonder y' all end up in nursing homes never to be seen again...
You could just, ya know, join the military and have all that too.
Could you do a follow-up on how age-ism is going to play out if companies expect employees to jobhop their entire careers
Its going to be bad is my estimation. I'm starting to worry about it at 35. When I hit 40. Its going to be bad. Working on a backup plan honestly, because no one wants to pay me what im worth. I'm gonna start my own goddamn company, and screw em.
Alter3go, I started to experience ageism in my 40s. 10 years later, earning less money than my early 40s! I’ve lost all respect for employers and HR departments. I’m just throwing my savings into retirement funds and churning away.
@@FkknJerry14 how? The trick they used was to remove my position then make me redundant. Companies use tricks and the law cannot prove it. It’s unfortunate.
It sucks. I'm 50 in IT. God help me. Luckily I look super super young so people think I'm 35.
@@hepthegreat4005 I finished uni when I was 35. I'm 43 now and I hop jobs every 2 years. I know people well in their 50's that do the same
My experience is that after 14 months of unemployment during the pandemic, I observed the great hiring freeze of 2020 that started thawing in early 2021. I finally landed a position (tech related) in May, but honestly was never a great fit at the company. However, finding a better role has never been easier. One essentially dropped in my lap and I was able to give notice. But I wasn't going to leave that job unless I secured something else since, well, this is the US and health insurance is stupid expensive.
when things you are saving up for (like a house) are increasing in price faster than you are saving money, and you are taking one step forward two steps back, it doesnt really make sense to go to work anymore, you dont work for work, or for paper fun coupons, you work to buy real things you want
I quit my job this week and just signed a contract at a new company for double my current salary + better benefits. If companies don’t want to offer enticing progression and compensation, then they can’t be surprised when you head for the door.
7:09 I actually changed my job right in the heart of the pandemic. It wasn't because I was let go or my job was unstable or at risk. I had a solid job during the pandemic and was in no danger of loosing it. I just didn't want to work there anymore and needed to get out so I did and I'm in a much better work environment with much better pay.
I resigned too around July 2020...from being an employee to unemployed holiday and now an employer...
The pandemic does not only destroy lives...but in a positive sense it made some of us accelerate our plans and made critical decision sooner.
recession is already here. the prices already went up globally, and as history shows, they're never ever going down
We must at understand the context, after working from home or forced out of work because they are "non-essential" , many people had time to reflect on what is important and what they want to do so it is normal to have many people who want to change things.
Yup, i know people who left their jobs to run a hot dog cart, and they are killing it. They don't earn as much as they were earning but the amount of time they gained to spend with their families/friends is priceless. One of those guys could finally travel to see his mom after some years without time/money.
@@TheGios100 quit my job as a teacher to sling pizzas. I am 1000% happier.
The great prioritization
Why do you have to keep reminding me that even if I somehow manage to overcome my anxiety and become employed, the hell of job searching must be recursive in order to not under value myself. Just hearing it makes me sick to my stomach.
When I feel anxious about something like that, I just remember it sucks for everybody. It may feel especially draining for you, but everyone goes through it.
@@JohnDoe-gy5dr And somebody always has it worse. Not to lessen one's personal worth, but to humble the spirit.
Try looking for low anxiety jobs. A library, even stocking items in the store. Start somewhere and your anxiety will start to lower a little.
I had someone come in at work yesterday complaining at me the entire time I helped them about how people like me are lazy and just won't work an honest day anymore for (S O M E R E A S O N) and it took 100% of my willpower not to say some shit that would get me fired. It's not a labor shortage, it's an awakening to the existence of the wagie cage
I wish I had your level of self control, speaking as a veteran of 5 years in retail I think I would rather go and live in the mountains than ever have to deal with that again.
@@HowMoneyWorks Oh well, what can ya do? I can't afford to go NEET but I wish I could lol. Maybe I'll start investing who knows
This nonsense that a worker has to be more productive each year to justify a raise. Inflation makes your money worth less. Using that reasoning would have to do twice as much 30 years later to keep up with inflation , the products and services cost more. Why should employers get more while your worked to death
Very excellent point that I think way too many people don't ever think about.
"This nonsense that a worker has to be more productive each year to justify a raise."
There is a maximum cap of how hard an individual can work, or in other words a maximum output a single person can deliver. Like you said, taking into account inflation, wages should naturally go up, but because they don't, and employee has to work (produce in output) several times harder to convince their employer that they have justification for a raise.
I'm actually in a place that I feel does a pretty good job rewarding loyalty. Pretty regular raises, an employee ownership program that is more likely to favor long time employees and more. But that said we lose a ton of people right around where I am in my career. So there must be other places with better offers. That also makes them try harder to keep us though.
And there aren't many great opportunities where I live unfortunately.
Don’t tell your boss to cram it then moonwalk over to a competitor, but if you do, please video it.
People who succeed have momentum. The more they succeed, the more they want to succeed, and the more they find a way to succeed.
The Crypto market has been good news lately with many people investing in it and seeing a great return on their money.
This has to be the most 0 BS channel on RUclips.
Thanks, I do try!
Why would you go back to the job that laid you off, especially one where you're treated like garbage and can't rely on them to offer steady employment?
I'm retired from a 33 year engineering career. Twelve years into it, I decided to work as a consultant or contract engineer. My average time with any particular job was about two years and nine months, skewed by an early ten year employment. Doing this, I would always be with companies in the upswing and gone when austerity set in. I have no regrets.
I am so happy, that I live in the EU because non work Agreements are against the basic principle of freedom of work in the EU. Even if you sign a contract with such clause, it is invalid.
The EU has the best employment opportunities, great companies, the best healthcare and best standard of living. It shows you respect can go all ways in societies like that. America, Asia and Africa can learn a lot from the EU.
@@josephj6521 You mean northern Europe like the Scandinavian countries and Germany. Eastern europe is a shithole about work in general. The minimum wage is not even viable to sustain ANY kind of lifestyle, let alone a quality one. Most ppl from where i come from, live with their parents till 30-35 (in quite some circumstances even 50), or they get government subsidies like unemployment subsidy to make living a bit more sustainable, or they have generational wealth/inheritance accumulated or all of the above. Making an honest living has become a farce and more people prefer to commit crimes to attempt to make ends meet than working and STILL failing the purpose of getting a job: making ends meet!
I love all of the scenes depicting stressed-out people in their air-conditioned offices, overlooking entire cities, pecking away at their computers. Otherwise, great video! Subscribed!
I think this is probably correct wholistically but in tech, we are definitely seeing a massive trend towards people quitting and it isn't just for new jobs. About a third of our losses over the last few months have been people that effectively just want to take a really long vacation and don't plan to re-enter the job market for 6 months to a year.
That's just what happens when you take a workforce of high-earning people and lock them at home for 18 months. They come out the other side having saved a ton of money so are looking to take time off, or finally start their own business, etc. I don't even blame them, but it is certainly a problem for companies as we are losing highly specialized talent rapidly and it is very difficult to replace them, even if we offer market-leading salaries.
0:58 "unimployment bandwagon". I think that you have missed the point because everyone knows that today nobody quits until they have a new job or a clear plan to become self-employed.
True, but I am sure there are some people out there that won't who need to be told to calm it down a little bit.
Yeah this video is completely out of touch
@@consumer338 I dont understand what you or OP are getting at. This has never not been true except in cases that aren't any different today than they were in the past.
In what world are people this rational?
Headlines are sometimes over exaggerated these days. And we tend to believe them because of these social media platform algorithms which create a lot of ‘confirmation biases’
Okay but what about the actual data? Youre just ignoring that or?
I'm quitting my job this diwali for higher studies and entrepreneurship. Love from India.
Best of luck my friend, it sounds like you got this!
Stay till after you get the Diwali gifts. Then quit after you get your freebies
Wow good luck brooo
Don't do that. Education doesn't guarantee a job, and entrepreneurship is a lot harder than assumed.
I'd suggest cutting your work hours back and looking for a new job, try to get hired as an apprentice, then ask your boss if they would pay for schooling in exchange for loyalty to the company.
@@TheUnholyPosole hmm 🤔
"Pharmaceutical companies don't want to lose IP if a worker switches labs and that's reasonable." Wait... Why is that reasonable? The patients do not care WHICH company delivers the "cure for everything". Why should we halt progress to guarantee profits?
A LOT of patents are just TaxPayer THEFT where more of the funding was done in "Public-Private Partnership" investment and even when it wasn't, those cheap investment bank loans were **still** from the Fed Reserve going BRRRRRRRRTTT
@@iller3 agreed. I'm looking into the whole "Zero IP" thing. Hope we figure it out. Peace.
Because you are not applying basic logic. Why would companies invest billions if someone can steal it all. It's the same reason why feudalism ended when property rights were actually upheld. Use your brain, not regurgitated ideology.
@@dannyv233 to... save lives?
@@dannyv233 What is the connection to feudalism? Nobles still had property rights. So are you talking about the rights that were *created* for merchants (mercantilism)? Help me improve my logic. What are your premises?
Biomedical engineer here! While working at my field may income was stagnated, then four years ago I switched to an IT role and since then my salary has quadrupled switching companies and roles every year. My last offer was 20% higher than the previous, a difference roughly equal to my last salary as biomed engineer. It doesn't make any sense but I cannot complain
Non compete clauses: when the company knows that they have nothing to stand out amongst competitors and inspire company loyalty so they have to force you to be loyal via the law... even if you're not employed with them anymore.
Non compete clauses are BS, What can a company really do if you do get a job with a competator. Fire you
If I want to go all conspiracy here, it'd be real convenient for the managers of the various company in the world to frame a mild increase in resignation to be a bad thing
Had 2 jobs since the beginning of COVID. Only reason I still work 2 jobs is so my main employer doesn't try to ask me to do something like be a "relief driver" as we lose staff. He knows I'll leave immediately if asked to do it.
However, I'm tired of living in the PNW. I want a home and I'm never going to afford one here. Plus all my family is back east and Midwest. I can do my job remote, have done so several weeks. I offered a 32% cut in pay, no benefits, and work more hours. Still wasn't biting. Still has the outdated idea that face-to-face is important. Bro, I see my drivers maybe 1min a day.....If that. I have a good relationship with them simply because I'm good at planning and do what I say I'm going to do and don't ask for things outside what I hired them to do.
I wonder if there is any truth to the claims that the far more generous unemployment policies has lead to a number of people being hesitant to go back to work as the pandemic subsided before the delta surge. If there is any truth to this, I would think that this would be almost entirely tied to lower income positions that would've seen a relatively small real dollar decrease in pay when going on unemployment during COVID.
1000%!!! When you incentivize people to not work, they chose the free time and handouts over working. Economics 101 ;)
I honestly dont understand people who dont understand that is logically follows. If you incentivize not working you will have an increase in people who dont work. I think this almost axiomatic and will hold true no matter what.
Maybe there is a significant number of low or middle income earners whom prefer this or maybe most women as they can now spend more time with family
I think the bigger issue with the unemployment benefits is people were getting minimum $600 a week on UI last year with the Federal supplement and got used to that income. For a lot of these people it was the most money they ever made in their lives by a lot. They don't want to return to a near minimum wage job and make far less for actually working, so they're more picky about what jobs they will take and what pay it will provide. With the current $300 supplement running for a few more weeks they still have some time to be more picky. When that runs out we will see if the labor shortage will stick.
If the unemployment benefits provide a disincentive to work, why didn't EVERYONE quit? Oh, some made more money working? So rather than insisting we should starve people into working by reducing benefits, isn't the lesson that if we raise wages people will keep working? That worked for my employer...
Those with very low incomes who were fired..... hell yes, their past companies which fired them are screwed.
If 50% of people quit at the same time it would force employees to pay closer to a fair wage
They'd just have the remaining do the jobs of two people and still not pay overtime.
Last I heard, you can't collect unemployment when you quit ... only when you've let go without cause.
I’m all for changing companies for better pay, benefits, or opportunities, but it’s not that easy for everyone. People with families or who live in areas with limited opportunities don’t always have the option of just “changing jobs” simply because they don’t like it. Sometimes you just have take what you can get, unfortunately.
I really want to quit my job because it's making me depressed. But I know I'll be depressed still when I'm unemployed.
I gave 30 day's notice. I am looking forward to trusting God and going somewhere new. ❤️
i just switched to something more enjoyable , not higher paying but just so much more enjoyable to a point where it barely feels like working..... i feel like i won in the end
My fear is that a lot of very essential jobs require physical exertion, what happens when no one wants to work those anymore? Manufacturing, for example, is not glamorous, but it keeps a country on its feet. Higher labor costs will always trickle down to consumers
It literally doesnt have to trickle down.
We keep finding out how absurd most companies' margins are right now.
They wouldn't not make money, they would just make less
Lol physical jobs like construction ( plumbing, trucking, electricians, masons, painting, wielding ) actually pay pretty damn well and are less mentally demanding than bullshit office jobs especially if you're self employed. I'll never understand people that go to university just to end up working bullshit jobs in an unsufferable work environment
I've been in ware houses for the past 4 years going from 12$ an hour (quitting and finding new job every year) I'm now in a cardboard factory making 18.70$ an hour and they actually prioritize safety, quality and production is last. Best place I've ever worked and will do everything I can to stay and move up
I don't need to watch the entire video before commenting...
Switching jobs is really the only way to obtain a raise in non-minimum wage jobs. If you stay with the same employer, your lucky to see a 2% annual raise. Switching jobs affords a change to negotiate a pay that is commensurate to the current cost of living.
People are tired of being treated like shit and underpaid. The pandemic finally woke ppl up to seeing there is no job security and you need to get yo bag.
40% of the workforce is (thinking of) quitting. 4 million people are resigning. Ah yes the total global workforce adds up to 10 million workers. GENIUS.
The 3 stooges loved math.
I'm considering leaving my position due to lack of career growth, 1-2% annual raises, and a forced return to office with limited - 0 flexibility.
I want the ability to work throughout the day and I've found myself working later into the night / day being at home - not sure why, but I think its because I'm in a very comfortable environment.
I've been about to quit my job for years now
I quit, but I was working 3 jobs and quit one in order to go full time at my other job that paid better and had better benefits. The labor market has relied too long on low pay keeping workers overworked. Most of my fellow employees at the job I left worked at least 2 jobs. Many of them also quit in order to focus on better paying jobs that allowed them to work less hours. And no, we didn't have a minimum wage "teenager" job. We all worked in a caregiver position that, while it had entry level positions also required special training. Pay was low, benefits were meh. People only stick around until they find something better paying, then the employer complains about how they can't keep employees!
Also is it US thing? In Germany you can't get any benefits if you quit job yourself, only if you were fired (and not for your own mistakes). Most people just stop doing much waiting to get fired. Depending on company you can get away with watching Netflix 24/7 for quite long time collecting paychecks. Even better now that everyone is in home office.
Another great video, love the way you dispel myths perpetuated by MSM.
All these millions that quit, still have bills to pay, so 9 out of 10 of these 'quitters' are just moving on to a new job, 1 out of 10 would sadly quit due to mental/medical health reasons.
Keep up the great videos.
If this last year or two has taught the average working stiff anything, it is that employers and government all firmly believe that we are replaceable and have very little value.
They simply want a vast horde of wage slaves who work their fields and will be happy to have enough to eat.
We have reduced what it costs for us to live and now only desire to make that much.
If we make more, it is just taken away from us one way or another, higher rents or other costs, layoffs or whatever.
Here in Michigan, 6k+ restaurants are now gone forever.
Those that remain are actually offering managers less money than they did before all this.
Why?
Because there are now thousands more managers looking for work than there was before.
Stay debt free, have savings and don't be forced to work for peasant wages.
I'm quitting my job for another company that respects my medical autonomy. Its less money and benefits, but I can rest comfortably knowing my employer respects my ability to make my own decisions.
It's not difficult to beat a non-compete as a low tier employee especially if an employer cuts your pay, cuts your hours or even fires you as those actions contradict the level of importance that warrants a non compete, to prevent a valuable employee from working for the competition
Traders need to bear in mind that while the mechanics of on-line trading are relatively easy, investing is not. It is important not to confuse the procedure for entering an order which can be executed with the push of a button with making thoughtful investment decisions. Traders should exercise the same degree and this is from experience.
The pandemic is far from over and a second market crash is inevitable. Proper consultation in these troubled times is in order, the best time to invest was 2008-2010 the second best time is now. I work with a financial advisor Karen Lynn Olsen, It s impressive what I read about her myself.
@@christinajurado9180 I'll buy these right away cos I made good profit from your TESLA recommendation. However, I've been reading about investors making up to $50,000 monthly profit. if anyone knows, I'd really love to know how to make such profit despite the market odds
@@christinajurado9180 Nice of you to recommend such an enlightened analyst, I have worked with her for a year and I can honestly say she is the only broker I ever worked with who is solely dedicated to securing High returns for all her investors and ensuring their development as traders. Karen Lynn Olsen’s concept is really effective if you’re looking for guidance and strategies
@@dominicbister3168 I want something similar and I want invest so I can grow financially with her mentorship. How do I go about getting more information?
How much commission she charges ??
@@loishendereven9370 I started with a sizeable sum I had laying around in a savings account, around $150,000 at the time. the beauty of this method is that you do not hand over funds to the manager. it stays right in your account while your account mirrors her trades automatically. She charges 10% commission on trades and signals
Those clauses looks awfully like slavery with a monthly fee instead of a one time purchase, to me.
Not good in the XXI century...
1:59 or a little earlier... The statement that people are quitting to take advantage of unemployment is annoyingly persistent given the fact that it's untrue. In most cases, if you get fired or quit, you are NOT eligible for unemployment benefits.
You qualify for unemployment if you get fired but NOT if you quit.
lol not in my state. you just have to work at a job for a minimum of a couple years and can quit and get benefits. if you're fired you only get them a couple weeks sooner.
To quit or not to quit...that's the question. If the reason is to grow either personally or financially, why not...I have changed from job to job along 41 yrs of career. Sometimes it proved right, other times it proved stupid. On certain jobs I stayed longer, others I walked away during the very job interview (or during the simulator assessment). But anyone buying WEF's B.S. about minimum universal income ("you'll own nothing, but you'll be happy"...just didn't finish the sentence:..."and we will own everything, including your sorry slave @sses") definitely needs a heck of professional help.
I just started a new job last week. My annual salary has gone up some +20% and this is not including a raise and an annual bonus. Awesome health insurance compared to my last employer. Loved and adored everyone of my previous employer but the offer from my new employer was too hard to pass up.
I worked for a company for 12 years and my co-workers were like 2nd family. I attended every social functions and events. 2020 70% were laid-off from my work, fortunately I kept my job.
But I wasn't safe only because I had to take on the burden of 4 other people jobs without a pay raise.
2 years later, I got fired because I couldn't keep up.
Not only I was unceremoniously fired, but NOT ONE co-worker asked about me nor called me to see how I'm doing. I spent most of my time at work just to be forgotten in minutes.
I see why Quietquitting is trending! I support it!
The locally owned store around town have not been vanishing because of alarmists.
The young people are moving away, no?
Yeah because god forbid people resign for better pay and work/life balance. My employer REGULARALY asks for beyond 40 hour work weeks because we are on salary. Weekends or PTO be damned. You're always on the clock. FUCK corporate America.
gosh, the more i watch this channel the more thrilled i am that i do not live in USA. Makes you appreciate socialist countries when things are put into a right perspective...
Where do you live?
@Erik Gonzalez Once you travel to places that are not europe or north america and see what the conditions are, you realize that it could be so so much worse.
See where the bottom is, then comprehend what you take for granted just cause you have never been without and only then judge and try to lobby to improve.
But i get your point, it is heartbreaking for such rich countries as Canada and USA to not have free and good quality health care and free education.
And by free i mean accessible, we all pay for it thru taxes but it is a thing to be proud of to say that i am wiling to work harder so i live in a society where there is no people wanting the basic necessities for life. With all this wealth and technology there are no excuses anymore for people to go without access to the most basic things.
@@JohnDoe-gy5dr I settled in Norway, but i grew up in Yugoslavia. Lived in France, Germany and for a short time India for studies. Traveled quite a lot, visited Florida and California too but had little chance to see much since it was work related.
Loyalty is not rewarded in the job market. Companies think they're DOING YOU A FAVOR by allowing you to work for them long-term. Be a straight up mercenary and leave as SOON as you get a better offer
"You can't let what you want to be true interfere with what actuall is".
So many people allow their biases to get in the way, and really don't take a second to think critically. Great quote & great video, keep it up!
0:25 thank you this sets you apart from other youtubers
I quit my job and I'm starting my new state job, where I make 3x more than my terrible retail job that I left, better hours, no work on weekends, government holidays and full benefits. Screw retail, screw restaurants
Non-compete agreements unfairly subject employees to exploitative corporate practices and little else. I’ve signed a couple in my life and in neither case was I in possession of proprietary information capable of impacting companies at the bottom line. I get why you’d want to lock up some key members, but the fact that they’re used so frequently reveals something less necessary to protect intellectual property and more capable of locking employees into compensation packages that don’t rival their market competitors’. Companies should be required to prove the NCA is necessary for other than compensation underpayment. It’s just one way the “market” manipulates labor expenses in favor of the companies that make the market. A much better way to ensure employee loyalty is to over-compensate them. Once compensation is no longer part of the conversation, the big 3, Autonomy, Mastery, and Purpose, of human motivation can be fine tuned. Instead, companies try this NCA ploy that employs only the stick side of the old and long-outdated motivation scheme. I swear, most business leaders today are great at only two things: manipulating the quarterly numbers for fast cash and spinning tales about why certain practices exist in order to continue manipulating those numbers.
Ever heard your company CEO say, “We pay our employees a competitive wage?” When they ARE the market, that’s a legitimate claim on the surface. But it doesn’t address fair and equitable compensation. In the absence of employee negotiating power, the market isn’t a market at all. And this is the really big point most Free Market disciples fall back on: they can find another job. But in a shrinking workforce (not the one that includes part-time, gig, and contract work, but real, sustainable, meaningful jobs) and growing unemployment, coupled with jobs eliminated and down-graded by automation, in a nation based entirely on the premise that if you don’t work you can’t live (and neither can your elderly parents or your kids), people will do anything to survive, including jobs that pay next to nothing for no benefits. Imagine Uber launching in the 1950s economy. Not happening. But in an economy on a 40-year run of employee exploitation and wage stagnation, insurance requirements who premiums are based almost exclusively on class and income characteristics, rising gas prices, etc. Reagan not only slashed the welfare rolls, he added many millions to it over the next 4 decades. People who can’t afford cars, who can’t afford to live in a place that can accommodate cars, and the massive decline in public transportation safety and quality create a market of desperation that gave Uber its big opening. And nobody stopped and asked, “Hey. Why are all these people without transportation?” Instead, they said, “Well, now students can get around and drunkards have an alternative to DUI.” While drivers essentially donate the depreciation in their cars to Uber in order to make enough to eat. Wall Street has, over the past couple of decades, mastered to ability to exploit the ignorance, gullibility, and desperation of the American unskilled labor force (even contributing to it by denying access to jobs without degrees and then cherry picking the degrees they will accept - when bachelor’s degrees share all but a handful of classes that make up their majors). It’s all a shell game the corporate interests want to keep us powerless to resist.
Google employees tried to organize. Fired. Amazon employees tried to organize. Would have been fired if not for the media attention (wonder who lost his management job for acting too late?). And the average worker? Convinced labor unions will immediately off-shore their jobs, fall into line. Corporations have been using that threat since the 1970s. The reality is that if your company is threatening to move because of pay demands, they’re likely to move, anyway. Our government hosed American workers by not penalizing corporations that bounced for cheap labor.
If 40 million people are just playing swap the job and there isn’t a mass resistance to crap jobs, that’s really too bad. Because we need one. We need the solidarity of 100 million people saying we sick and tired of struggling and carrying the blame for our own lack of success when the game is rigged so heavily in favor of corporations.
And we wonder why corruption and ethics violations are rampant? When you put someone who is smart, ambitious, and angry in a position of extreme disadvantage, (s)he will succeed, anyway. The sub-prime mortgage debacle didn’t occur because that was the plan, or even “predatory” lending (though that’s how it appears because of the qualifications of many of the borrowers). No, the sub-prime mortgage debacle happened because Wall Street was making a killing on CDOs and desperately wanted any and all takers. Mortgage companies could “sell” mortgages fast enough. In the communities, home builders were in on it, too, offering their own mortgages. Word of mouth told millions of young families the “new” mortgage products could put them in a house much faster and easier than ever before. It wasn’t long before they were lining up. But when the whole thing collapsed under its own weight, the banks blamed the borrowers for being irresponsible - an argument, I might add, that turns my stomach. Telling unsophisticated investors that they’re responsible for massive losses in what amounts to a Wall Street crap shoot is just despicable. The SEC has laws that can put a registered rep in prison for intentionally misadvising clients, for investing in instruments for which they are not qualified (such as options trading for mom & pop - investors must by law be considered “sophisticated” by experience and well enough capitalized to meet potential losses), but nothing stopped mortgage companies from writing loans they knew would fail. And it wasn’t the borrowers’ fault in most cases. They’d been conditioned by long experience to shop payments, not details. Cars loans, especially, drove this tendency. How car loans got that way in the first place was a direct response to falling wages and the massive redistribution of wealth upward beginning in the 1970s - a gap that other capitalists jumped into with credit products to save the day. What we’re the homebuyers supposed to do?
i quit jobs a lot, usually do 2-3 years on a place, the reasons are no rise but i get a lot more of work and complains from boss for doing the very same job im hired to do, not working extra time (even if not needed), etc
i usually get paid the same/more and do less and less
my last job (pre-pandemic) was being a PR manager who quite literally had only to talk to people and make deals and some computer excel for 1 hour a week to send weekly numbers. I tested, checked and worked a grand total of 20 hours a week (48 in total, yes, i was on youtube, facebook, etc for the other 28 hours a week)
the best part? bosses loved me, i was the best PR representative they had have since the company started 10 years ago or so~~ (hooters franchise)
This video is misleading. People are even quitting jobs that pay well. It's not just about pay, Americans are tired of bullshit jobs across the board regardless of compensation.
The media has been proclaiming how the world has "fundamentally changed" my entire life, like they are desperate for it. But you know what? "We still dig holes with shovels." - Dominic Santini
I thought this guys made a few interesting videos about wealth, but then noticed he made some wacky claims in some other videos, and this is one of them. I'm perhaps too late to the game, but the thing is labor participation rate is down, and anecdotally, there are clear labor shortages (which explains the low unemployment rate).
Put them together, it can mean only one thing: a lot of people stopped looking for work, AKA, Great Resignation.