Jobs

The big picture

How the pandemic will reshape the job market

Some lost jobs will never come back.

Jun 23, 2020
Coronavirus could upend traditional workweeks

And working parents could hugely benefit.

Jun 16, 2020
What offices might look like as America returns to work

Say goodbye to snack jars and office gyms.

Jun 16, 2020
A reckoning for small business

Millions of businesses might not survive — and many of the tens of millions of jobs they support could evaporate.

May 23, 2020
The aging future of work

The tightening labor market is opening up new opportunities for American workers over age 50.

Feb 12, 2020
Americans are moving less

The traditionally mobile young are hemmed in by housing costs.

Dec 31, 2019

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Unemployment starts moving in the right direction

Data: Department of Labor; Chart: Andrew Witherspoon/Axios

The number of Americans filing for jobless benefits is finally coming down in a meaningful way and dropping across the board.

By the numbers: Claims for traditional initial jobless claims last week fell by more than 156,000 to 832,000 while initial claims for the Pandemic Unemployment Assistance program declined to below 500,000 for the first time since April 18.

Survey: Fears grow about Social Security’s future

Data: AARP survey of 1,441 U.S. adults conducted July 14–27, 2020 a ±3.4% margin of error at the 95% confidence level; Chart: Naema Ahmed/Axios

Younger Americans are increasingly concerned that Social Security won't be enough to wholly fall back on once they retire, according to a survey conducted by AARP — in honor of today's 85th anniversary of the program — given first to Axios.

Why it matters: Young people's concerns about financial insecurity once they're on a restricted income are rising — and that generation is worried the program, which currently pays out to 65 million beneficiaries, won't be enough to sustain them.

The tough battle to regain clean energy jobs

Data: BW Research Partnership; Chart: Axios Visuals

The jobs rebound in clean energy sectors, broadly defined, slowed greatly last month, per a newly released analysis.

The big picture: Clean energy industries added just 3,200 jobs last month, far fewer than in June, according to the BW Research Partnership's analysis of unemployment claims.

Gender wealth gap increasing amid pandemic, women's financier says

Ellevest Co-founder and CEO Sallie Krawcheck Photo: Axios screenshot

The gender wealth gap has been growing during the coronavirus pandemic, Sallie Krawcheck, co-founder and CEO of financial service company Ellevest, said at an Axios event on Wednesday.

Why it matters: Women have had to deal with a disproportionate amount of job loss during the pandemic because they're more likely to have jobs deemed essential, Krawcheck noted.

JOLTS report shows far fewer jobs added in June

Data: FRED; Chart: Danielle Alberti/Axios

The June reading of the Labor Department's Job Openings and Labor Turnover Survey showed substantially less jobs were added in June than the department's nonfarm payrolls report.

By the numbers: The JOLTS report showed 6.70 million hires, down by 503,000 from the month before, and there were 4.76 million separations, up 522,000 from May.

A quandary for state unemployment agencies

Illustration: Aïda Amer/Axios

State agencies charged with paying unemployment benefits to jobless residents have their backs against the wall as they rush to parse President Trump's executive actions on coronavirus aid.

Why it matters: States are being asked to pitch in $100 per unemployed resident, but it’s a heavy lift for cash-strapped states that are still unclear about the details and may not opt-in at all. It leaves the states and jobless residents in a state of limbo.

A big hiring pledge from New York CEOs

Illustration: Rebecca Zisser/Axios

Leaders of more than two dozen of the New York City area's largest employers — including JPMorgan Chase, Ernst & Young, IBM, McKinsey & Company and Accenture — aim to hire 100,000 low-income residents and people of color by 2030 and will help prep them for tech jobs.

Why it matters: As the city's economy has boomed, many New Yorkers have been left behind — particularly during the pandemic. The hiring initiative marks an unusual pact among firms, some of them competitors, to address systemic unemployment.

Jobs of the future aren't exempt from the pandemic recession

Illustration: Rebecca Zisser/Axios

The wave of unemployment connected to the pandemic even includes jobs that had been set to grow in a more digitally enabled future.

The big picture: The pandemic has accelerated shifts in the job market that will prioritize digital skills of all kinds. But the sheer job destruction of the past few months is so great that even the best-prepared fields haven't escaped losses.

U.S. economy adds 1.8 million jobs in July

Data: Bureau of Labor Statistics; Chart: Axios Visuals

The U.S. added 1.8 million jobs last month, while the unemployment rate fell to 10.2% from 11.1% in June, the Labor Department said on Friday.

Why it matters: The labor market continued to recover but the pace of job growth slowed significantly from June’s 4.8 million job gain, suggesting a stalled improvement as coronavirus cases surged and states pulled back on reopening plans.

Jobless claims show unemployment shifting, not falling

Data: Department of Labor; Chart: Andrew Witherspoon/Axios

Thursday's jobless claims report showed U.S. unemployment appears to be turning a corner, but it may not be the one those anxious for an economic recovery are hoping for.

What happening: Unadjusted initial jobless claims for the week ending Aug. 1 fell below 1 million for the first time in 20 weeks, while the number of people receiving traditional unemployment benefits fell below 16 million for the first time in 17 weeks for the week ending July 25. Continued claims are reported with a two week lag.

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