American workers are quitting at the highest rate in decades

There’s something unusual going on in the labor market: US workers are gaining leverage over employers. Recovery from the pandemic has been weird, the result of a collision between public health measures, economic relief provided by governments and central banks, and social changes inspired by the experience of enduring coronavirus. This has resulted in a labor market that seems at once too hot and too cold: The high number of long-term unemployed, for example, suggests a very loose labor market, while the number of firms who say they can’t fill jobs suggests a tight one.