how many times have you dreamed of this situation hey uh Vincent no it's Friday at 8pm but I'm gonna need you to write up that report before you leave today you should only take about three hours maybe it's already 8 P. M on a Friday I'm late for my weekend trip already well that sucks man you better get to work quickly then champ well actually hold on did you know that after Decades of the importance on the upper hand in the labor market a massive change is coming where the employee there's no one there we're now getting the power so screw you I'm going home just thinking about the interaction gave me so much anxiety but thankfully that dream could be a reality for you and millions of Americans out there because we're living through a period of the great resignation where a survey showed a whopping 95 percent of workers are now considering quitting their job so let's talk about it what's happening We'll add up to this and why are people quitting and what is the economic impact from all of this the horrible chain of events from the past year led to an unpredictable Paradox that we see today and it all started back in 2020 with the illness where countries and economies completely shut down leading to millions and millions of people getting laid off the government sent out multiple stimulus checks to prop up the economy but as the world started to return to normal employers are finding it more and more difficult to rehire workers for several unexpecting reasons which we'll talk more about in a bit and if that wasn't enough employers are also facing the great resume nation in April nearly 4 million people quit their jobs but despite there being an all-time high of 9. 3 million jobs available in the market because in the past year people had time to reflect and think about their work and life it is this truly what they want to do for the next 20 or 30 years of their lives now personally for me I decided to quit my job last year in November because I started to realize that I felt like I wasn't doing much of anything and I was just helping the rich get richer and I felt like I could just provide a ton more value in helping and serving others by teaching them personal finance especially since that's my background especially during a time when the wealth Gap is widening between the Haves and the have-nots I also felt like I was losing control of my life because my employer in a way controlled my time and I don't know if you know this but in the finance industry the hours are horrendous and although the pay is good if you actually divide it by the per hour worked it's actually not that much and especially in finance not only do you work through what 60 80 hour work weeks but you also are expected to work after work because yes and they were more culture I was in you are expected to answer emails your slack messages and even reply to stuff when you're out of the office long story short I decided to quit but unfortunately not in a blaze of glory like what this guy did if you want to learn more about my story I I go into details over here quitting generally has a really bad connotation it's Society because people tend to think that you're lazy you don't have grit you don't you can't stick through it but honestly I couldn't care less about what people were thinking about me I knew what I wanted in life and I knew that that wasn't it now that you're caught up let's actually start digging deeper into the rabbit hole and understand why so many people are quitting their jobs and I gotta say the more I researched into this the more I started to make sense for me but first I appreciate if you could turn that like button into a beautiful blue for all the research and the time it took to make this video the first reason is better opportunities because of the illness many people were laid off and they suddenly had more time they were started receiving stimulus checks in the mail which encouraged people like me to take riskier routes such as entrepreneurship especially now that you can start an online business with very very low cost if you're interested in starting you can check out the top side hustles that start here in total Americans start at 6.
7 million new businesses since the illness began last March which is an all-time record so claps and hats off to everyone taking a plunge I'm proud of you guys but it's not just the entrepreneurship route people also see more opportunity in the job market especially with the record number of 9. 3 million job openings in the United States and obviously in an economy where lots of jobs are available people would tend to leave their existing rules for better ones the second reason is a higher salary since there is a labor shortage as the economy reopens employers are desperately looking for workers and I'm sure you've seen it driving past a McDonald's with a sign that says paying 50 for an interview which is actually a pretty sweet deal and if you think about it interviews take about 30 minutes that's 100 an hour I have around 15 McDonald's in a five mile radius that'll be around 7.
