This summer's hottest trend: Quitting your job 🔥

For the week of 6/13-6/20

Are you a millennial? Were you born in the ’80s? If so, a new survey by CNBC concluded that nearly half of millennials in their thirties wish they had chosen a different career path. 

Some blame a college degree that parlayed into few real-world job opportunities, others pointed to not taking greater risks in their twenties to pursue work they were really passionate about. If you read the full article here, we’d love to know your thoughts on the topic.

Last week

  • Congrats California, it looks like you’re winning the post-pando economy. We learned recently that the golden state added 1.3 million people to its payroll since last April, more than Texas or New York state; Bloomberg reports that the household income in Cali has increased almost as much as Texas, Florida, and Pennsylvania, combined.

  • It seems that the USA is still around 7.6 million jobs short of where it was before the pandemic arrived and for the first time since April, jobless claims rose week over week to 412,000.

  • Colorado recently enacted a law that requires companies to clearly state the expected salary and pay range whenever advertising open roles. Lawmakers have said that their aim is to narrow gender wage gaps and increase transparency for job seekers. Unfortunately this controversial new policy has prompted many companies who are hiring for fully remote roles to share on their job descriptions that candidates based in CO need not apply, WSJ covered the story in depth.

Money talks

  • Lyra Health, a six-year-old provider of mental health care benefits for employers has raised $200 million in new funding at a valuation of $4.6 billion.

  • The Mentor Method, an Austin, Texas-based workplace inclusion and equity startup, has raised $1.4 million in seed funding led by Draper Associates.

  • Gloat, a six-year-old company that aims to help businesses fill roles by connecting their existing workforce with new, internal opportunities, has raised $57 million in Series C funding.

  • Beamery, a company that labels itself the first “talent operating system” just raised a massive round of $138 million dollars in fresh capital.

This (was) someone’s job

Apparently, the US labor market is for quitters. A sign. posted to a drive-through speaker box, let would-be hamburger eaters know that someone wasn’t loving it at Kentucky, McDonald’s, and would not be coming back.

We don’t think there is a better visual for the rising number of resignations that are happening across every industry and wage level in America’s booming economy. Some workers are quitting because they believe their underpaid, while others the near-death experience of COVID-19 has led them to prioritize families and friends, over careers. The New York Times takes a deep dive into this trend, here.



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