Survey highlights regret surrounding the Great Resignation - July 13, 2022

The Euro and the U.S. Dollar reached parity for the first time in 20 years, brought on by economic pressures rooted in fears of a recession and the energy crisis linked to the war in Ukraine. Doubts have risen around the European Central Bank’s ability to take aggressive enough action to check inflation without plunging the bloc deeper into economic turmoil. While the news focused attention on the central bank’s ability to face a weakened currency, European consumers are likely to experience higher costs for imported goods while American travelers may seize the opportunity to vacation in Europe at a lower price. Conversely, the strong dollar may help contain prices for expensive commodities and ease inflationary pressure in the U.S. later in the year. The U.S. Food and Drug Administration is set to authorize the Novavax coronavirus vaccine, opening the door to a shot using the protein-based method typical of some traditional vaccines. The news follows the Biden administration’s announcement that it will purchase 3.2 billion doses of the vaccine in line with the president’s renewed approach to tackling COVID-19 through increased booster access and extensions of public health emergency measures. The vaccine’s trials have shown its efficacy as a booster and the company hopes Americans initially hesitant to get vaccinated will take its shot. A new survey found that an estimated 20 million Americans expressed regret over quitting their jobs within the first five months of the year. The number of Americans who quit their job this year is roughly double that of a decade ago, and while the reasons for regretting the decision to quit varied, roughly half of those looking for jobs said they expect labor market conditions to worsen. The survey also noted that roughly 40% of employed job seekers received pay raises this year, but inflation has largely dulled the effect of those increases. Files leaked by former Uber lobbyist Mark MacGann disclosed a web of alleged steps the rideshare company took to aggressively expand ar