Source: Foundation for Economic Education
by Walter Block
“Everyone is now concerned about the unemployment rate, it would appear. The scribes are busily scribbling as to the possible causes of this economic debilitation. Their list is long, creative, and clever. One explanation is that the quit rate has plummeted. People are sticking around in jobs they would have left in rosier markets. Well, yes, if this replacement source of new job openings is decreasing, that could well account for fewer new employment slots opening up. But this is a two-way street. Presumably, people are not downing tools for fear that new appointments will not be open to them, at least not on better terms, overall, than they now enjoy. So, it is likely that the unemployment rate is at least partially a cause of this phenomenon, not only a result. Further, this is a sign of economic health, rather than disarray.” (04/17/26)
https://fee.org/articles/the-causes-of-unemployment-whats-missing/