When driving up debt makes sense
What 'Great Resignation?' A visiting fellow at the Federal Reserve of San Francisco and a professor of economics at ASU shares his thoughts on the economy in relation to what's also known as the 'Big Quit' and the 'Great Reshuffle,' an ongoing economic trend in which employees have voluntarily resigned from their jobs en masse, beginning in early 2021.
In this article published April 5, 2022 on Politico:
The quits waves in manufacturing in 1948, 1951, 1953, 1966, 1969, and 1973 are of the same order of magnitude as the current wave. All of these waves coincide with periods when payroll employment grew very fast, both in the manufacturing sector and the total nonfarm sector.
– Bart Hobijn, professor of economics
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