Who Are You? Really?

People across the nation are quitting their jobs at a record rate. But here's what they don't know about this trend. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

SPONSORED Do you own gold? Somebody recently decided to buy a LOT of gold. And I think I know why... It's all about a meeting that's scheduled for September 22. If you own gold (even just a few ounces of it), you've got to see what's happening. The big announcement is just days away. Click here now. MARKET TRENDS What the Media Gets Wrong About the "Great Resignation" Matthew Carr | Chief Trends Strategist | The Oxford Club Who are you? Really? Tens of millions of people across the country have been forced to ponder that question for the past 16 months. And the impacts of their answers are creating ripples across our economy... and the markets. But is this a tide that's going to lift all boats, or is it a tidal wave threatening to drag everyone down to the bottom? Personally, I think it's neither. The "Great Resignation" There are essentially two overarching goals we all have in life: to achieve happiness and to have a sense of meaning. We can pull out Maslow's hierarchy of needs. But, really, it all boils down to being fulfilled and satisfied. And many people have realized over the past year that they're not either of these things... at least not professionally. And that's ignited an exodus. In 2021, the "quits rate" has rapidly bubbled higher. In April, nearly 4 million Americans quit their jobs. That's despite the fact that more than 9.3 million people are still out of work. And in the 20 years since the U.S. Bureau of Labor Statistics started collecting this data, there's never been anything like this. Even more shocking, the number of people leaving their jobs now is 24% higher than it was before the pandemic. The naysayers are donning their sandwich board signs and proclaiming, "The end is nigh!" The advocates are hailing this movement as righteous and an example of the true power of the worker. And the press was quick to plaster it with a catchy name: the "Great Resignation." But let's do a reality check... The Great Resignation is merely a continuation of a trend that's been in place for well over a decade. SPONSORED Hot IPO Stock Gets Business From 25 Fortune 100 Companies Walk outside an Ikea, Walmart, Home Depot or Macy's and you might just see an unusual set of boxes. People wonder what in the heck they are - after all, the technology was developed for Mars. Find out what's going on here.   In fact, in January 2020 - a little less than two months before the proverbial manure flew into the jet turbine and the world became a mess - the lament was this: Workers are quitting their jobs at the fastest rate on record! In 2019, Americans were saying "sayonara" to their employers for greener pastures and better pay at the highest rate ever. And we can see in the chart above that ever since the bottom of the financial crisis in March 2009, the quits rate has steadily been on the rise to record levels. The trend was merely paused during the pandemic. The crisis is subsiding, and that pent-up motivation to leave is bouncing the quits rate back to its normal range. In fact, the quits rate is almost exactly where it was predicted to be. Corporate America Ups the Ante After each recession, turnover rates surge. Part of it is because of self-reflection during the crisis: Is this who I really want to be? Part of it is because of pay. Here's the rub for the unfulfilled worker... Companies will gladly shell out 15% more for new talent. But those same companies tend to give current employees raises of only 2% to 3%. If you were in that situation, which option would you take? Now there is a record number of job openings. And many of these have been slow to fill. To entice workers to their ranks, employers - from Amazon (Nasdaq: AMZN) to McDonald's (NYSE: MCD) - have had to increase their hourly wages. And in May, Chipotle Mexican Grill (NYSE: CMG) raised its minimum wage to $15. In the apparel sector, Under Armour (NYSE: UAA) followed suit by raising the minimum wage for its 8,000 hourly employees to $15. These aren't signs of the end or that the sky is falling. These are ongoing - and encouraging - signs that the economy is returning to normal. So expect that quits rate to continue to hit new highs. But remember, it's merely a continuation of a trend that began more than a decade ago. Here's to high returns, Matthew Leave a Comment MORE FROM PROFIT TRENDS The Safest Way to Play the Electric Vehicle Sector The Best Augmented Reality Shares to Own Today Why This Investment Is Better Than Winning the Lottery Facebook Twitter Email Share SPONSORED Author of Get Rich with Dividends Is Giving Away His Ultimate Dividend Package FOR FREE! Click Here to Get Marc Lichtenfeld's Ultimate Dividend Package, Including Details on His No. 1 Dividend Stock... the Safest 8% Dividend in the World... the Top Three "Extreme Dividend" Stocks... and Much, Much More. For Free. 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