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Axios AM Deep Dive: Inside the jobs Bonanza

Illustration: Shoshana Gordon/Axios

This Deep Dive on jobs by the Axios business team looks at the incredible state of the U.S. jobs market and how employers, employees and job seekers are navigating this unprecedented moment.

Updated Jul 29, 2021 - Economy & Business

U.S. economy grew at a 6.5% rate last quarter, missing expectations

Contractors work on a home under construction. (Photo: Micah Green/Bloomberg via Getty Images)

The U.S. economy grew at an annualized 6.5% rate last quarter, the government said Thursday — slower than the 8.4% economists expected.

Why it matters: It came as the economy made strides toward further reopening, vaccinations rolled out and government stimulus bolstered spending. But supply crunches held the pace of growth back.

Jul 29, 2021 - Economy & Business

Stat of the day: 38% of remote workers work from bed

British actor Michael Caine. Photo: Larry Ellis/Express/Getty Images

Forget the home office — 45% of American teleworkers regularly work from a couch, 38% regularly work from bed and 20% often work outside, according to a study by the home improvement marketing firm CraftJack.

Why it matters: Home offices are a luxury.

Updated Jul 28, 2021 - Economy & Business

Fed acknowledges economic progress, maintains supportive policy

Jerome Powell. Photo: Al Drago/Bloomberg via Getty Images

The Federal Reserve said Wednesday that the economy has made progress, but reiterated its commitment to keep monetary policy loose and stimulative.

Why it matters: The rapid economic recovery has caused the prices for some goods and services to jump, causing measures like the core PCE price index to rise above the Fed’s target for an average of 2%.

Job market optimism among Americans hits 21-year high

Data: The Conference Board; Chart: Axios Visuals

American workers are increasingly optimistic about their options.

Why it matters: Employers are scrambling to find workers as demand for goods and services has been booming.

Jul 27, 2021 - Economy & Business

The end of long-distance relationships

Illustration: Annelise Capossela/Axios

Jobs have always taken people to new cities, states or even countries — ending millions of relationships, or turning them into long distance ones. Telework may be a fix.

Why it matters: Often we made personal relationships remote to prioritize in-person work. Now work could become the part of life that's remote, allowing relationships to get that valuable in-person investment instead.

Bryan Walsh, author of Future
Jul 26, 2021 - Economy & Business

Companies tap a new talent base: their own

Illustration: Brendan Lynch/Axios

A startup is offering an internal marketplace tool for companies to better identify and cultivate talent among their own workers.

Why it matters: With the "great resignation" upon us and companies desperate to find new workers, one often-untapped source of talent is internal workforces.

Water Street Tampa's newest building pushes wellness for a post-COVID workplace

A view from Thousand & One overlooking a rooftop greenhouse and garden at Heron, a residential building. Photo: Becca Meier/Axios

They're marketing Water Street Tampa's new Thousand & One as the city’s first anticipated WELL Core- and Shell-certified office building and first trophy office tower in nearly 30 years.

Why it matters: The developers hope wellness — like, actual physical and mental health — will be a giant draw in a post-COVID work culture.

Bryan Walsh, author of Future
Jul 22, 2021 - Economy & Business

Jobs of the future are catching up to jobs of the present

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Data: Cognizant; Chart: Will Chase/Axios

Postings for digitally enabled jobs of the future are recovering from a sharp dip during the pandemic, but they still lag behind postings for conventional jobs as companies desperately try to rebuild their workforces.

The big picture: The pandemic hit the labor pool hard across the board, but jobs previously poised to grow in the future lost even more ground as companies retrenched.

Jul 22, 2021 - Economy & Business

Employers are getting more desperate to fill jobs

Illustration: Sarah Grillo/Axios

Workers are still stalling the job search, and employers — from health care providers to trucking companies — are getting desperate.

Staggering stat: The share of job postings that use words like "hiring urgently" has spiked over 50% since the start of 2021, according to data from the jobs site Indeed.