Back to the talking point, it's one where it's thoroughly obvious that it hasn't been thought out given the tiny fraction of employees who have quit over this. As I'm sure we're all very aware, it's because of the extreme upward pressure on salaries. Several of us have posted comments about our employers hiring at huge premiums right now. My company even announced a new program to push ALL salaries upwards across the board, moving the market points, uncapping ranges, and automatically bringing people up to some minimum relative to market. They're desperately trying to retain existing employees and trying to hire new.
It's not like we lost a massive fraction of the job market to COVID (even using 800,000, that's about 0.5% of the workforce). So I'm still a little confused where this pressure is coming from compared to October 2019. Could the stimulus from COVID be supercharging this? The child tax credit? This is the one thing I just don't quite understand. Because if this is transient due to the economy starting back up, we could see a pretty hard return to the norm over the next 12 months.