The tightening labor market is opening up new opportunities for American workers over age 50.Feb 12, 2020
Wages grew by 2.9%, the lowest rate in a year and a half.Jan 13, 2020
The traditionally mobile young are hemmed in by housing costs.Dec 31, 2019
For decades, the job market has seen steady polarization.Dec 19, 2019
The "good news" story of the strong labor market has a big downside.Aug 30, 2019
A growing number of them aren't 9-to-5 employees.Apr 27, 2019
The pandemic is getting worse, and the question is whether the economic recovery will go with it.
Why it matters: America adding 7.5 million jobs over the last two months pales in comparison to 20+ million lost over the two months prior.
Former Vice President Joe Biden on Thursday called June’s jobs report “positive news,” but warned that the worst is yet to come and accused President Trump of "giving up" on addressing the root public health causes of the coronavirus.
Driving the news: The Labor Department reported Thursday morning that the economy added 4.8 million jobs last month and that the unemployment rate dropped to 11.1% — down from 13.3%.
The U.S. economy added 4.8 million jobs last month, while the unemployment rate dropped to 11.1% from 13.3% in May, according to government data released Thursday.
The state of play: While the labor market showed more signs of recovery when the government’s survey period ended in early June, the lag means that more recent developments, like the surge in coronavirus cases and resultant closures in some states, aren't captured in this data.
Another 1.4 million Americans filed for unemployment last week, the Department of Labor announced Thursday.
Why it matters: New applications for unemployment remain historically high, suggesting layoffs are still widely prevalent. However, they remain well below the all-time record seen when the coronavirus pandemic first hit.
Workers of color, women and the lowest-income people are more likely to be relying on unemployment benefits this month, according to projections released by the Congressional Budget Office (CBO) on Wednesday.
Why it matters: The weekly unemployment claims report doesn't have a demographic breakdown of who's receiving unemployment aid.
The private sector added 2.4 million jobs in June, according to ADP's national employment report released on Wednesday. The report also included a massive revision to its May data, saying there were 3.1 million jobs added that month rather than 2.8 million lost (as initially estimated).
Why it matters: The labor market slowly continued to heal in early June, after historic job losses during the coronavirus pandemic. The ADP report is closely watched for what's to come in the official jobs release from the government (out tomorrow), though it's far from a perfect proxy.
As lawmakers turn their attention to another coronavirus stimulus package, Republicans and Democrats each say they’ve learned many lessons from the $2 trillion CARES Act. The problem is, they can’t agree on what those lessons were.
Why it matters: With just an 11-day window in late July to act, and without the market free-fall of March to motivate them, Congress may choke on a compromise package that many economists see as necessary to keep the economy upright.
Protests in the aftermath of George Floyd's death have started conversations about racism in workplaces across America and prompted companies to bring in educators and experts to lead trainings.
Yes, but: These trainings often fail to bring about the necessary transformation.
As the pandemic erases millions of jobs and transforms millions more, Microsoft is aiming to provide free digital skills training to 25 million people around the globe this year.
Why it matters: Around half the U.S. population is currently out of work, and the unemployment numbers are similarly high in other countries.
Treasury Secretary Steven Mnuchin said at a congressional hearing on Tuesday that the $134 billion in leftover funds from the Paycheck Protection Program (PPP) should be repurposed and extended to businesses that have suffered the most during the coronavirus pandemic, including "restaurants and hotels."
Why it matters: Today is the last day small businesses can apply for loans via the PPP, as coronavirus cases spike and some states are pausing or rolling back reopening plans. The prospects for small businesses, many of which have already seen significant revenue drops, are devastating.