Americans are leaving their jobs in droves. In August 4.3 million Americans quit their jobs. While some people have left the workforce entirely, job security and better pay are top concerns for others. Dubbed “The Great Resignation”, the exodus of workers has created hiring challenges for companies and left millions of jobs unfilled. More than half of U.S. workers surveyed said they plan to look for a new job in the coming year, according to Bankrate’s August jobseeker survey. Some 56% of respondents said adjustable working hours and remote work were a priority. Working women have faced an additional burden, juggling childcare duties, virtual schooling and their careers. So, what does the realignment of the workforce mean for employees and businesses? And what steps should you take before quitting your job?
In 2021, the average age of vehicles on the road reached a record 12.1 years. Every driver that chooses to hold on to a car for another year is postponing a trip to the dealership, and some industry analysts wonder if rising vehicle ages and prices indicate trouble for new car sales in the future. Automakers are stuffing cars with new technology and improvements but will that be enough to keep buyers wanting the latest and greatest?
The covid-19 pandemic has reinforced humanity’s dependence on modern tech, but the same tools that enable remote working are also being used to spread disinformation and perpetuate cybercrime. Ambivalence towards technology is nothing new. Read more of our coverage of Science & technology: https://econ.st/3CdkVa5
Across much of the world, covid-19 restrictions are starting to ease. The Economist has crunched the data to calculate how close countries are to pre-pandemic levels of normality—but will life ever be the same again? Read more here: https://econ.st/3AG9siz
The Federal Reserve is trying to figure out how to keep cash relevant in a cashless world. It’s considering digitizing the U.S. dollar, giving people money they can access on their phone and bypassing electronic payments that can be slow and costly for businesses. Illustration: Jacob Reynolds/WSJ