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Why more people are quitting their jobs, and why that’s good
Jul 8, 2021

Why more people are quitting their jobs, and why that’s good

We're quitting our jobs at a very fast pace — not something you do if you're worried about the future. Workers may be looking for something that's a better fit with their values and goals, and they're willing to take a risk to find that job and career. Also, people are starting new businesses at a high rate. Plus, why it's looking like we might hear from the Federal Reserve about raising interest rates sooner than previously expected. And, now that the economy is opening up, are we going to start swiping our way back to credit card debt?

Segments From this episode

"The Fed is not going to get behind the curve in terms of dealing with inflation"

That’s according to Diane Swonk, chief economist at Grant Thornton. She says the latest minutes from the Federal Open Market Committee’s meeting show that the Fed is more concerned that the upside risks to inflation are greater than the downside risks. That’s good news for markets, because it means the Fed will be quicker to act on reining in inflation when necessary. Swonk also commented on the latest weekly jobless claims data, which showed the number of Americans filing for unemployment benefits rose slightly last week even while the economy and the job market appear to be rebounding.

As consumers get out more, they may also reach for credit cards

Jul 8, 2021
Outstanding credit card balances have been down, but people may start racking up the debt again.
People are going out more and making bigger purchases, and with credit card interest rates still high, balances might shoot back up.
Scott Olson/Getty Images

Why people are quitting their jobs and starting businesses

The high quit rate and number of new startups signals optimism in the economy's future.
Many people are quitting their jobs and becoming entrepreneurs, signaling confidence in the economy's future.
Richard Pohle/WPA Pool/Getty Images

Music from the episode

Ambling Alp Yeasayer

The team

Victoria Craig Host, BBC
Stephen Ryan Senior Producer, BBC
Jonathan Frewin Producer, BBC
Daniel Shin Producer
Jay Siebold Technical Director
Brian Allison Engineer
Meredith Garretson Morbey Senior Producer
Erika Soderstrom Producer
Rose Conlon Producer
Alex Schroeder Producer