Since the beginning of 2022, many Americans have been returning to the workforce due to a massive rise in prices due to high inflation.
During the pandemic, millions of Americans quit their jobs, or were fired due to the lockdowns, or retired early, in what came to be known as the “Great Resignation.”
After the economy started to recover last year, the labor market started to tighten, some gave up working altogether, while 47.4 million other people left their jobs for better opportunities, a record high, according to data from the U.S. Bureau of Labor Statistics.
Meanwhile, employers were forced to increase salaries, offer signing bonuses, and allow employees to work at home in order to retain or recruit talent, as labor shortages grew nationwide….