The ‘great resignation’ is over. Can workers’ power endure?

Tens of millions of Americans have changed jobs over the past two years, a tidal wave of quitting that reflected - and helped create - a rare moment of worker power as employees demanded higher pay and as employers, short on staff, often gave it to them.

But the "great resignation," as it came to be known, appears to be ending. The rate at which workers voluntarily quit their jobs has fallen sharply in recent months - though it edged up in May - and is only modestly above where it was before the pandemic disrupted the US labor market. In some industries where turnover was highest, like hospitality and retail businesses, quitting has fallen back to pre-pandemic levels.

Now the question is whether the gains that workers made during the great resignation will outlive the moment - or whether employers will regain leverage, particularly if, as many forecasters expect, the...