THE GREAT RESHUFFLE Gen Z's job transitions have increased by 80% during the last 12 months. Millennials are transitioning jobs at the second highest rate, up by 50%, Gen X with 31% & boomers by just 5%. And it’s not over yet. In August, a study by Personal Capital and The Harris Poll found that two-thirds of Americans surveyed were keen to switch jobs. With 91% of Gen Z feeling that way. Of course we cannot overlook the fact that a lot of older workers are now retiring early due to health concerns as well as medical mandates, or being forced to retire early with little prospect of getting another job. This exists in many Countries, most notably the USA & Australia at present where many jobs require proof of vaccination as a prerequisite for continued employment Additionally, here were the key findings from the June 2021 American Perspectives Survey: Over the past year, the US government has spent $764 billion on unemployment compensation benefits, $968 billion on payroll subsidies to struggling firms, and $867 billion in stimulus payments to individuals and families Factories are now ramping up production, stores, businesses, service and hospitality firms are reopening. This national economic restart, and a backlog of consumer demand, has generated enormous demand for workers The federal government reported a record-breaking 9.2 million job vacancies, enough jobs to provide employment for the over 9.5 million Americans who are currently looking for work. The current unemployed have been slow to return to work. Numerous explanations for work hesitancy have been put forward, such as healthier savings accounts boosted by federal stimulus checks, virus fears in young people, and increased family demands One of the most discussed reasons for the slow return to work has been unemployment benefits. Business owners and some economists have argued that when Congress and the administrations boosted unemployment compensation (first by $600 last spring and then to $300 in December 2020), the effect was to pay people more through unemployment benefits than they could earn at work, thus creating a disincentive for job seeking Among women, 30% are not currently working because they are caring for children and family members. This figure rises to 42% among women between age 30 and 49. This has led to startling declines in labor force participation among women 39% of women say flexibility to balance work and family needs is one of the most important factors in choosing a job, and roughly 59% prefer a remote-work option so they can care for the family Meanwhile, around half of states are trying to speed up these workers returning to work by cutting unemployment benefits, but it isn’t working as many people have said they much prefer not working The unemployed are looking for work. However, they are not necessarily looking for the same jobs they had a year ago. They want the right job with higher wages to offset the rising prices of inflation. Strong partisan divisions persist in views about unemployment. 64% of Republicans believe that unemployment benefits in their state have been too generous, compared to just 17% of Democrats Chapters: 00:00 - Introduction 00:46 - Gen Z & Millennials 02:28 - Older Workers Retiring Early 03:55 - Government Spending 05:36 - Employment Hesitancy 06:20 - Have Unemployment Benefits Created A Nation of Lazy People? 08:10 - Obstacles of Returning to the Workplace 09:29 - States Weigh In on Unemployment 10:48 - Reasons For Unemployment 12:45 - The Rise of the Side Hustle! 13:55 - Republicans Vs Democrats 15:20 - The Jobs Crisis Summarised 16:12 - Conclusion