The Fed wants to know if the U.S. labor market has made “substantial further progress.”Aug 30, 2021 - Economy & Business
Remote work — accelerated by the pandemic — has made it easier for companies to seek out less expensive regionsJan 19, 2021 - Economy & Business
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
The big picture: As the next generation enters the workforce, companies will have to devote even more time and resources to tackling issues like systemic racism, income inequality and climate change.
Technology that automates recruiting and hiring can be partly to blame for the current labor shortage, according to a new Harvard Business School and Accenture study.
Driving the news: More than 90% of employers in the U.S., U.K, and Germany surveyed said that they use automated systems to filter or rank candidates first. Those systems often eliminate candidates that could be a good fit for jobs with training, but whose resumes don’t precisely match the pre-set criteria.
The conventional wisdom that more people across the board are more likely than ever to leave their jobs is wrong, according to extensive polling by Gallup.
What is true: Self-identified disengaged workers are ditching jobs faster than ever, the data reveals.
COVID-era economic data tends to be noisy, and problematic to interpret. But in Friday’s disappointing jobs report, one thing was pretty clear: It’s Delta’s fault.
Why it matters: In some ways, that knowledge is a good thing: "It was definitely not as much progress as we were expecting, but the silver lining is that you can pretty clearly point to the cause of the weakness," Jeremy Schwartz, director of global strategy and economics at Credit Suisse, tells Axios.
The U.S. economy added a meager 235,000 jobs in August, while the unemployment rate fell from 5.4% to 5.2%, the government said Friday.
Why it matters: It's the first jobs report to factor in the extent of the COVID-19 surge driven by the Delta variant — showing a massive slowdown in the recovery after July's blockbuster jobs report. Economists had expected 725,000 jobs to be added.
“We are going to see a very different economy down the road, and ensuring that we can tool people to move into those better jobs will be essential, ” Goodwill Industries CEO Steve Preston tells Axios.
Why it matters: Today’s labor mismatch isn’t just about COVID fears and unemployment insurance. Steve Preston would know — as the CEO of Goodwill Industries, which runs more than 650 career centers across the country, he’s been on the front lines of getting people back to work.
Not only does gig work come with low and unpredictable wages, but gig workers — who make up an increasing percentage of the workforce — can also have a difficult time accessing government benefits and social services.
What's happening: While plenty of resources exist to help gig workers find jobs, new apps like Steady are helping them access the types of career support, mentoring and benefits that on-the-books corporate employees enjoy.
New York City Mayor Bill de Blasio is directing the city's municipal office workers to return to in-person work by Sept. 13, the New York Times reports.
The big picture: Despite growing concerns about the Delta variant, de Blasio is intent on showing the city reopening, a promise made during an aggressive vaccination campaign.