I've been planning a piece on the so-called Great Resignation and only just found an article that prompted me to move on if. Those of us who have come to #Hive, #Blockchain or #Crypto are fully aware that the world has been in a protracted financial crisis due the last 50 years. The financial market meltdown of 2008 was the proverbial straw that erupted not just in occupy movements but also the lightning strike that is Bitcoin and Blockchain. This new money and earning system have provided the seed of the new financial system that is more humane and democratic.
New Economy
The pandemic is again driving people away from the system of employment and towards a system of freedom of work. Today's economy at least in the US is shifting from one that is principally based on wage labor to an economy based on individual creativity and peer-to-peer transactions. In a recent article Bill Murphy Jr. confronts the question, where did the 12 million people that left the US job market go? Like me Murphy realizes that most of these people did not just quit their jobs out of laziness. In his words "A lot of people are quitting their jobs to go into business for themselves."
Murphy examines the data on new Etsy stores, new federal EIN numbers and other metrics to conclude that many of these people have chosen to start new businesses. These facts are compelling because they also explain why despite the millions of resignations and public quit notices, employment levels here in the US on average are now at pre-pandemic levels.
Image source
[Saint Louis Fed](https://fred.stlouisfed.org/graph/?g=JpY1 #FRED 
New Businesses
The other side of this analysis is to recognize that new business applications have increased during the pandemic and even now remain very high. The Saint Louis Federal Reserve Bank also tracks the number of new business applications. Look at the exponential rise in applications via the chart below.
Image source [Saint Louis Fed](https://fred.stlouisfed.org/graph/?g=JpYI #FRED
This data clearly points to the fact that people are not lazy in quitting their jobs. They are simply looking for more opportunities to manage their own time and create their own wealth.
How many of my fellow #Hivians quit their jobs to start new businesses. Weigh in with your comments below.
Thanks for reading.