Americans continue to leave their jobs in high numbers

The economy continues to show momentum despite pandemic. But will this continue to hold true as Omicron variant surges.

Americans are continuing to leave their jobs in high numbers, a sign of a growing economy.

The Labor Department said on Dec. 8 that 4.2 million people quit their jobs in October. This is a decline of about 205,000 from September but still close to a record high.

Job openings rose to 11 million, spurred by a 254,000 jump in positions in accommodation and food service sectors. This sector was hurt by the pandemic but has had a slight recovery as cases caused by the Delta variant of the coronavirus eased up. The data collected for the latest labor report was collected before the emergence of the Omicron variant. It is unknown what future impact the Omicron variant will have on jobs. 

As for now the latest job report is a sign the economy has maintained its momentum despite the pandemic. 

While employers complain that they can’t find enough workers, job seekers have a little more bargaining power and prospects.

Wages have been pushed higher.

The government reports that average hourly wages were up in November to $31.03, which is 4.8 percent higher than the same time last year. While the federal minimum wage remains at the ridiculously low $7.25 an hour many employers say it’s hard to find workers for less than $15 an hour.

Not only are more workers receiving higher wages they are having more say on benefits and vacation time.

How elected officials, policymakers and businesses continue to handle the coronavirus, particularly the Omicron variant and other possible variants will be key to not only public health but also jobs and the economy.

The most volatile hiring has been at restaurants, bars and in the travel industry, businesses strongly impacted by the coronavirus.

This will likely continue to be case as public health officials across the country announced new vaccine mandates. 

For example, in Philadelphia, proof of COVID-19 vaccination is now required to eat indoors, see a movie or go to Sixers or Flyers game, as coronavirus cases and hospitalizations continue to surge in the city and state.   

New York statewide indoor mask mandates took effect last month, similar to policies already in place in San Francisco and New Orleans.

As the nation experiences winter, the coronavirus will loom large over the economy. 

Irv Randolph is an award-winning journalist. For more opinion on TheRandolphReport@substack.com. Please share.