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“Great Resignation” Continues with Record Numbers

Approximately 4.3 million workers left their jobs in August.

Published

4 years ago

October 21, 2021

INSTORE Staff

“Great Resignation” Continues with Record Numbers

Led by bar and restaurant and retail employees, a record 4.3 million workers resigned in August, according to U.S. Labor Department statistics, reports CNBC.

“As job openings and hires fell in August, the quits rate hit a new series high, surging along with the rise in Covid cases and likely growing concerns about working in the continuing pandemic,” said Elise Gould, senior economist at the Economic Policy Institute.

A total of 721,000 retail workers left their jobs in August, while 892,000 workers in the food service and accommodation industries and 534,000 in healthcare and social assistance followed suit. Among the reasons for resigning include health concerns and child care issues created by the pandemic.

Honoring a Legacy: How Smith & Son Jewelers Exceeded Every Goal With Wilkerson

When Andrew Smith decided to close the Springfield, Massachusetts location of Smith & Son Jewelers, the decision came down to family. His father was retiring after 72 years in the business, and Andrew wanted to spend more time with his children and soon-to-arrive grandchildren. For this fourth-generation jeweler whose great-grandfather founded the company in 1918, closing the 107-year-old Springfield location required the right partner. Smith chose Wilkerson, and the experience exceeded expectations from start to finish. "Everything they told me was 100% true," Smith says. "The ease and use of all their tools was wonderful." The consultants' knowledge and expertise proved invaluable. Smith and his father set their own financial goal, but Wilkerson proposed three more ambitious targets. "We thought we would never make it," Smith explains. "We were dead wrong. We hit our first goal, second goal and third goal. It was amazing." Smith's recommendation is emphatic: "I would never be able to do what they did by myself."