Bloomberg Businessweek checked out the latest in people leaving the workforce. That phenomenon called “the Great Resignation” apparently is global.
Main point: “Around the world, millions of people are rethinking how they work and live—and how to better balance the two.”
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More about it:
- “…the pressure has been building in developed countries for decades.”
- “Incomes have stagnated, job security has become precarious.”
- “…the costs of housing and education have soared, leaving fewer young people able to build a financially stable life.”
- “China’s “lie flat” movement, jump-started by a social media post from which it got its name, is also about opting out.”
- “It’s a reaction against a system in which a grueling “996” work schedule—9 a.m. to 9 p.m., six days a week—is common in industries like technology.”
- “So is unrelenting pressure from family, society, and even the government to keep climbing the ladder.”
Why it matters:
- “It’s about how the economy has become overheated and unsustainable, both in an environmental sense and in a mental sense.”
- “In the face of existential threats such as the pandemic and climate change, the Great Resignation and lie flat have the potential to spark a deeper discussion about the relentless pursuit of wealth, at the individual level and for nations as a whole.”
Parting thought:
- While it’s good to seek a better balance between work and the rest of one’s life, we should make sure we have thought through the implications for retirement. One of a number of surveys indicates Americans aren’t confident Social Security and Medicare won’t be able to do its part in sustaining their retirement.
- Young people may find that reflecting deeply on their calling will lead them in more rewarding paths. That’s because one’s calling capitalizes on one’s strengths and preferences, making it a more fulfilling pursuit. Being engaged in the intellectual, physical, social, and spiritual dimensions can support greater focus on the job, a prerequisite to greater earnings.