Workers' Power: Sustaining Beyond the 'Great Resignation'

The "great resignation" wave, characterized by a surge in job-switching and increased worker power, appears to be ending as the rate of voluntary quits has fallen sharply in recent months. Wage growth has also slowed, particularly in low-paying service jobs, and employers are finding it easier to hire and retain workers. However, economists believe that some of the gains made by workers during this period may endure. While turnover increased in low-wage service industries, workers were able to secure better-paying jobs or start their own businesses. The pandemic economy narrowed the earnings gap between high and low-income workers, and low-wage workers have not lost ground over the past two years. Nevertheless, the future of worker power remains uncertain, as a potential recession could undermine these gains.