In December, 4.34 million Americans quit their jobs. University of California, Berkeley, professor Robert Reich is calling this continuation of the "Great Resignation" a kind of modern "general strike."
Reich says workers have a lot of bargaining power now that Covid pandemic restrictions are easing, leading to increased demand for goods and services. This means employers will be more likely to acquiesce to employees' calls for change.
"Workers are sitting pretty," Reich told CNBC.
The former U.S. Labor secretary sees the Great Resignation as a sort of groundswell of support for more child care, family leave and health care. Reich does not see this impacting the overall U.S. economy negatively, citing studies that prove workers are more productive if they're happier.
We're making it easier for you to find stories that matter with our new newsletter — The 4Front. Sign up here and get news that is important for you to your inbox.
He says the U.S. has the most "brutal" form of capitalism. Reich suggests reframing the narrative, telling CNBC
"We don't work for the economy, the economy is supposed to work for us."
Watch the video above to see what professor Reich sees as the future of the American workplace, how cryptocurrency is impacting the economy and what is the one legislative agenda item the Biden administration should focus on to help the U.S. economy.
