Some lost jobs will never come back.Jun 23, 2020 - Economy & Business
And working parents could hugely benefit.Jun 16, 2020 - Economy & Business
Say goodbye to snack jars and office gyms.Jun 16, 2020 - Economy & Business
Millions of businesses might not survive — and many of the tens of millions of jobs they support could evaporate.May 23, 2020 - Economy & Business
The tightening labor market is opening up new opportunities for American workers over age 50.Feb 12, 2020 - Economy & Business
The Census Bureau's latest survey of Americans' forward-looking economic expectations found a particularly dour outlook.
Details: Three of the country's four most populous states expect to see at least one in four citizens lose some employment income in the next four weeks.
Fraud in California's Employment Development Department (EDD) was so rampant and seemingly easy to exploit that one Los Angeles rapper was arrested recently after making a song and video about doing it.
What's happening: In a historic example of snitching on oneself in an effort to clout chase, rapper Fontrell Antonio Baines, aka Nuke Bizzle, describes how easy it is to get "rich off of EDD" in a music video posted to YouTube titled "EDD."
New data from the Pew Research Center shows that parents are being hit especially hard by the coronavirus pandemic, and as far as job losses go, mothers and fathers are faring equally poorly.
Why it matters: Economists have been warning for months that the pandemic could do long-term damage to the economy as people remain unemployed for longer stretches of time.
First-time applications for unemployment fell last week, according to Department of Labor data released on Thursday.
Between the lines: The overall number of Americans relying on unemployment also fell to a still-staggering 23 million. But there are continued signs of labor market strain, with more people shifting to an unemployment program designed for the long-term jobless.
Many of the digital jobs of the future have suffered during the later stages of the pandemic, while in-person health care jobs are on the rise.
Why it matters: Automation and digitization will profoundly change the U.S. labor market, but that future has been delayed as COVID-19 forces companies to shift into survival mode.
One of the fastest-growing workplace applications of artificial intelligence is in hiring, but imperfect algorithms leave qualified women and candidates of color out — and can ultimately build weaker teams.
Why it matters: Algorithms are most often used to make the initial applicant screening process — the resume review — more efficient. But their role cannot be underestimated, as around 95% of all job applicants are rejected based on resumes.
Before the onset of the coronavirus pandemic, human resources jobs were on the automation chopping block. Now they're essential.
The big picture: HR departments across the world have pulled off the incredible feat of turning companies from in-person to remote overnight, and as the pandemic continues to determine the future of work, HR has been elevated from a back-office function to a C-suite conversation.
As Election Day gets closer, Joe Biden leads President Trump by sizable margins on the major issues of the day, according to a national poll by The New York Times and Siena College.
Why it matters: With only two weeks to go before election day, there's little time for Trump make up the gap between he and Biden on the issues voters care deeply about. These include a new multi-trillion dollar stimulus program, mandatory mask-wearing, and a $2 trillion renewable energy package. Voters are also now evenly split on who will better manage the economy — a blow to Trump as he's led on the issue for much of the campaign.
Industries that were once expected to recover after the initial coronavirus lockdowns lifted are now unlikely to bounce back until a vaccine arrives.
Why it matters: In the absence of a widely-adopted vaccine, businesses in the entertainment, travel, restaurant and other industries are struggling to overcome consumer skepticism around indoor activities — even with new safety protocols in place.
Nearly 900,000 Americans applied for first-time unemployment benefits last week, the Labor Department announced, the highest number since mid-August and the second weekly increase in a row.
What's happening: "It appears there was a widespread reversal of the downtrend in claims that has been in place for several weeks," Jefferies' money market economist Thomas Simons and chief economist Aneta Markowska wrote in a note to clients.