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Myth 1: The Great Resignation is about quitting
If you zoom in on one sector - the accommodations and food-services industry - mostly composed of restaurants and hotels, this sector has seen more quits than any other part of the economy. But it’s not bleeding jobs. Quite the opposite: Accommodation and food services added 2 million employees in 2021, more than any other subsector.
In fact, accommodation and food services, which has been hardest hit by the Great Resignation, has also created one out of every three net new jobs in 2021.
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Myth 2: The Great Resignation is about white-collar burnout
Remote workers are significantly more likely to say they’re burned out now compared with before the pandemic. Because remote workers are a very white-collar group, this fact has led to a great deal of news coverage claiming that the Great Resignation is being driven by white-collar professionals.
Given the government statistics and private survey data we currently have, these just seem like different phenomena. Strange as it sounds, the increase in self-reported burnout is happening in industries where workers are less likely to quit.
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Myth 3: The Great Resignation is a 2021 phenomenon
The term Great Resignation was coined by Anthony Klotz, a professor at Texas A&M, in May; at the time, he framed a mass exodus from the workforce as a prediction for the next year. But since the bottom fell out of the economy in April 2020, the labor-force participation rate has increased for most groups—men and women, white and nonwhite. The biggest exception is older Americans, who by and large quit their jobs (and stayed quit) last year.
The great majority of this economy’s “quitters,” are seniors. But they quit a while ago, and calling their decisions “resignations”is sort of weird.
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