White House Economic Advisor: 4.4 Million Workers Quitting in September Is ‘Actually a Good Sign’
‘This is them exercising some of their bargaining power, characteristic of this Biden boom’
Nov 13, 2021 5:00 PM
By Grabien Staff
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RUSH EXCERPT:
BERNSTEIN: “I’m glad you asked because it’s often missburptedinterprete bad sign when from workers perspective it’s a good sign. The reason it’s a good sign, at a time of very strong labor demand, 5.6 million jobs created since this president got here, 620,000 per month, historical records. The unemployment rate falling faster than it has in over 50 years. So those kinds of conditions mean that there are lots of good, higher paying opportunities for workers to engage in upward mobility, and that’s what the quit rates are telling us, at a time like this, people are not quitting and leaving the labor market, they’re mostly quitting so that they can move up the scale to a better job. So from the perspective of working people, this is them exercising some of their bargaining power, characteristic of this Biden boom and something that’s very important to the president to upgrade to a better job.”
