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Ask HN: Are you part of the Great Resignation, if so what's your story?

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Ask HN: Are you part of the Great Resignation, if so what's your story?

#1

Post by ak_111 »

Did the pandemic influence you to be part of the "great resignation", i.e did it motivate you to take an early retirement, work less (go part-time) or even have a major career change (become a farmer, go to med school...).

This phenomena remains the most puzzling macro trend and doesn't seem to be a US-specific one (it is also very visible in UK and European data[1]) nor does it seem transitory so far, so it would be interesting to get a tech sector snapshot of what is driving it.

[1] https://edition.cnn.com/2022/03/30/economy/great-resignation-uk-australia-europe/index.html

Re: Ask HN: Are you part of the Great Resignation, if so what's your story?

#3

Post by ak_111 »

badpun wrote: post #2

It did. But recently, with Russian aggression, inflation and looming crisis, I've become the part of The Great Coming Back.

It is indeed expected that if asset prices collapse, the Great Unresignation might become a thing and in a very ugly way.

An alternative more rosy scenario is that the Great Resignation becomes even more entrenched leading to a radical change in society such as 4-days week becoming normalised or mass support for UBI.

Re: Ask HN: Are you part of the Great Resignation, if so what's your story?

#5

Post by iExploder »

jollyllama wrote: post #4

I hear all these stories about people quitting like that, but how are they paying/how did they think they would pay the bills? I'm very curious.

A few people I know inherited couple of apartments, its not so hard to live off rent from couple of properties here in Europe, you can get a part time job if u really need to supplement your lifestyle.

Re: Ask HN: Are you part of the Great Resignation, if so what's your story?

#6

Post by ak_111 »

jollyllama wrote: post #4

I hear all these stories about people quitting like that, but how are they paying/how did they think they would pay the bills? I'm very curious.

This is the mystery, precisely why I wanted to ask the question. Some of it is due to asset prices going through the roof (real estate in some western countries have doubled over the last 3 years).

But this can't be the sole reason. For one thing it is hard to monetise asset prices to get cashflow. But the truth is it is one gigantic puzzle in the macro economics world and you just have to read some central banker transcripts to see how perplexed they are by the entire thing.

Re: Ask HN: Are you part of the Great Resignation, if so what's your story?

#10

Post by ChicagoBoy11 »

ak_111 wrote: post #6
jollyllama wrote: post #4

I hear all these stories about people quitting like that, but how are they paying/how did they think they would pay the bills? I'm very curious.

This is the mystery, precisely why I wanted to ask the question. Some of it is due to asset prices going through the roof (real estate in some western countries have doubled over the last 3 years). But this can't be the sole reason. For one thing it is hard to monetise asset prices to get cashflow. But the truth is it is one gigantic puzzle in the macro economics world and you just have to read some central banker tr…

Usually the whole science of econ is predicated on trying to keep preferences fixed and then seeing how all sorts of shocks impact behavior. But, perhaps, COULD IT just be that this one time, with this once-in-many generational event, that people's outlook and perspective on their lives truly did change and preferences, all else equal, did in fact shift massively so people have been quitting/making less money/changing jobs?
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