The American labor market has experienced dramatic changes since the start of the global COVID-19 pandemic in the early spring of 2020, with historic job losses followed by a sharp employment recovery. Since 2021, the pandemic labor market has entered a third phase, with a dramatic reshuffling of workers in the labor market. Commonly referred to as the “Great Resignation,” workers have left their jobs at extraordinary rates, particularly younger workers. While some argue that young workers left their jobs to rely on the federal stimulus money or other forms of public assistance, others believe that young workers left their...