3 things you should know about the millions of people quitting their jobs

The pandemic forced millions of people out of work, but now millions are quitting the jobs they kept. William Spriggs tells Insider what’s going on.

A strange paradox has emerged in the reopening economy: Millions of workers are quitting, even though millions were laid off during the pandemic and abruptly left without work.

So why are people quitting, and why is it so hard to hire right now?

Ahead of Wednesday’s data release, Insider spoke to Dr. William Spriggs, an economics professor at Howard University and chief economist at the AFL-CIO, and he offered three reasons America is seeing so many people say, “I quit.”

Spriggs told Insider that the number of people retiring is a “huge factor” in the current labor market, as the pandemic looks to have accelerated the end of workers’ careers, especially in certain industries.

“I think a lot of people who were 59 or 60 last year” got enough support so they were prepared to retire in 2021. This created a loop where now-empty roles need to be backfilled, and none of the firms hiring had expected they’ve have to make up for so many retirees.

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