This was something I predicted a long time ago.
Innovations both technological and financial will eventually make human labor entirely obsolete.
Many people think this is an unpopular opinion, but just look at public sentiment—most people increasingly do not want to work, and this is simply a natural tendency in line with the historic trend.
People’s lives continue to get better and the living standard continues to rise—this is a natural progression of the systems we have built and continue to build.
With an A.I. singularity coming in 2 decades, digital currencies, energy innovation, and revolutions in material science, one day people will not have to work at all because the underpinning of our entire system—scarcity will not matter.
Economists call this a “post scarcity society”, and it is the belief of some economists that developed nations have already reached entered the early phases of this point—no one in our society starves even if they don’t work, right?
However, today is not that day and for the time being most people still have to work for a living….
The problem is of course that they now wish to seek working in completely different ways like remotely, online, or for themselves.
This has led to a mass exodus of people from traditional workplaces, and into these digital spaces due to Covid-19, an increased emphasis on travel, time freedom, and geo location freedom, and personal dissatisfaction with a normal 9-5.
In short this ‘great resignation’ is being driven by a multitude of factors, some natural, others fabricated, and others political.
Here’s more on the story:
Americans quit their jobs at record rates this year, in what was labeled “The Great Resignation” or the “Big Quit.” Some suggested a collective life-or-death experience caused people to reassess their options. Others see a new anti-work era emerging. https://t.co/GGu2ffWCqf pic.twitter.com/ZFKsA1oFho
— The New York Times (@nytimes) December 30, 2021
the great resignation rolls on pic.twitter.com/BuwwTK0QXG
— Lance Lambert (@NewsLambert) January 4, 2022
CNBC had some of the data:
The so-called quits level surged to 4.53 million for the month, according to the department’s Job Openings and Labor Turnover Survey.
That represented an 8.9% increase from October and broke September’s high-water mark of 4.36 million. As a percentage of the workforce, the quits rate of 3% matched September’s mark.
In November, 4.5M workers quit their jobs, notching yet another record for 2021. The Great Resignation beats on! pic.twitter.com/6Y4rVsAnkR
— Steven Rattner (@SteveRattner) January 4, 2022
The Great resignation is here. You should quit your job if you are not happy with your benefits or pay and your boss doesn't want to comply. Force their hand by leaving and never looking back. Know your worth. Share this video. I highlight it ALL! SHARE https://t.co/xAgSndvlEa
— CAMELOT331 (@CAMELOT331) January 4, 2022
Daily Mail had more details:
A high number of resignations is a sign of a strong labor market because it shows that people are confident they can find a new job. The vast majority of people who quit do so to take new jobs.
Evidence shows the hot job market is being driven by a labor shortage due the large number of older workers who opted to take early retirement during the pandemic, and have not yet returned to the workforce.