Why the ‘great resignation’ became the ‘great stay,’ according to labor economists

Key Points

The “great resignation” of 2021 and 2022 saw unprecedented numbers of workers quit their jobs amid ample and better-paying job opportunities. Today, it’s the “great stay.”
Businesses pulled back on hiring due to higher interest rates. Fewer job openings hindered the prevalence of quitting.
Employers aren’t laying off many workers, however, due to a “scarring” effect.

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