BofA Plans to Hire Up to 5,000, CEO Moynihan Says

The video discusses the dual mandate of price stability and full employment, highlighting the complexities of the current job market. Despite low unemployment numbers, many people remain out of the workforce due to various factors, including the pandemic. The discussion covers job openings, turnover rates, and the high quit rate, emphasizing that companies are hiring but also facing challenges in retaining employees. The video also explores factors like retirement, childcare costs, and the wealth effect influencing employment decisions. Ultimately, it concludes that full employment leads to wage growth, reflecting the current economic conditions.

Discuss the implications of high quit rates on the labor market as highlighted in the text.

What are the potential reasons for people not returning to work post-pandemic as suggested in the discussion?