Twitter and Reddit are celebrating a national victory of labor over employers, who are forced to increase the wages they offer in order to fill an estimated 10.4 million job openings with 7.4 million available workers. Meanwhile, with such a high number of open positions, employees are moving on from their jobs in droves. There’s a nationwide shortage of truckers, nurses, and fast-food workers, grocery shelves are routinely empty, and retailers hoping to ramp up for the holidays are having to pay massive bonuses to get help.
This has been labeled the “Great Resignation”. It’s not.