Jobs

Hot job market may squash holiday hiring plans

A Christmas tree with "help wanted" signs, instead of ornaments.
Illustration: Rebecca Zisser/Axios

Companies have ambitious goals to bulk up staffing for the holiday season, but the tight labor market might make meeting those targets tough.

Why it matters: Unemployment is at a record low and this is a take-your-pick job market, so hiring for the holiday season will likely be more difficult than usual. (Yes, it's already starting.) There's no guarantee that offering perks like paid time off or bonus eligibility will attract more seasonal workers.

Shock report: Machines will do half our labor in less than 8 years

Illustration: Lazaro Gamio/Axios

The new age of automation is building global momentum much faster than many thought, with more than half of the tasks done by human workers on pace to switch to machines in just seven years, according to a report released today.

Why it matters: Earlier this month, we reported that the impact of artificial intelligence is happening only slowly, but will pick up to a rapid clip in the late 2020s. But with automation, we are already there, according to a report by the Geneva-based World Economic Forum.