Millions of Americans quit their jobs in March

Large technology corporations such as Amazon, Apple or Starbucks coffee chain in the US not only face labor shortages and are also struggling to retain employees.

Shares of Amazon fell as much as 13% on April 29. The tech giant could lose up to $1 billion in earnings in the first quarter, in part due to rising costs for warehousing and paying workers.

“Whether Apple, Amazon or any other company is having a hard time recruiting or retaining employees. Big companies, contractors, warehouses, this problem is no big deal. avoid,” said Max Wolff, CEO of Systematic Ventures, USA.

Despite the high demand for jobs, more than 4.5 million Americans quit their jobs in March. (Image: Getty Images)

Despite the high demand for employment, more than 4.5 million Americans have quit in March, up 3% since December 2021. The manufacturing, retail, transportation, and warehousing sectors face many difficulties in finding workers.

The tightening labor market has caused millions of Americans to quit their jobs to find new, higher-paying jobs. Wages for American workers have increased by 4.7% over the past year, but not enough compared to the current 8.5% inflation rate.

Employers in the US have just announced a record 11.5 million jobs added in March.

Strong recruitment demand can be a positive signal to help the US economy overcome challenges such as inflation, supply chain disruptions due to epidemics and conflicts.

This week, the US Federal Reserve (FED) is expected to raise interest rates to curb inflation, stabilize the macroeconomy and support the labor market.

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