NBC News: “First, due to the uncertainty caused by the pandemic, many employees who would have otherwise quit their jobs stayed put. Indeed, using the Bureau of Labor Statistics Job Openings and Labor Turnover Survey to examine total (nonfarm) quits over the past two years, there were close to 6 million fewer resignations in 2020 than there were in 2019. As the pandemic subsides, these would-be quitters who “sheltered in place” last year will likely enact their plans to leave. In fact, this surge of turnover is already underway: The resignation rate in March was 2.4 percent, which was the highest quit rate recorded for that month in 20 years. In short, the backlog of resignations caused by the pandemic are now beginning to clear. We know that generally many employees only stay at their jobs because the costs of leaving are higher than the costs of staying, and this ratio has shifted for many workers over the past year. The costs associated with staying have risen, with many workers experiencing burnout — a key contributor to voluntary turnover. At the same time, some costs associated with quitting have decreased. The pandemic has provided many Americans with an opportunity to reduce expenses, pay off debt and save money. Combined, higher employee burnout and enhanced financial security is a recipe for increased resignations…”