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☆ The 4-day workweek: Science explains why it could improve our minds, bodies, and companies' bottom lines
▼ + stars: | 2023-02-26 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +9 min

Science explains why the four-day workweek could be good for employees and employers alike. There's no control group — a company or companies that maintained a five-day workweek, to compare against the four-day workweek companies. There's also a risk of "selection bias" — a particular type of company may be far more likely to volunteer for a four-day workweek trial. Here's what science has to say about the UK four-day workweek trial results. Cortisol, too, can affect sleep quality, so having fewer high-cortisol days (ahem, work days) may mean fewer days of meager sleep.

☆ Why the resilient US economy is making it difficult for stock investors to thrive
▼ + stars: | 2023-02-25 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

The recent stock rally is crumbling as inflation data shows the Fed still has more work to do. But data also shows the economy is strong, and that could help the US avoid a recession. But investors aren't cheering for a strong economy. This follows data earlier in the month that showed the US economy has been resilient in the face of higher interest rates. And, ultimately, the Fed will have the last word for stocks, even if the economy holds up to its aggressive policy.

☆ Op-ed: U.S. inflation and jobs reports show fastest recovery in 30 years under Biden
▼ + stars: | 2023-02-14 | by ( Cecilia Rouse | Chair Of The Council Of Economic Advisers | ) www.cnbc.com time to read: +6 min

The employment report earlier this month suggested U.S. employers added 517,000 jobs in January, well above what private forecasters were expecting. Over 12 million jobs have been created since President Joe Biden took office. At the same time, we have experienced the fastest jobs recovery from a recession in the last three decades. In January, the unemployment rate was 3.4%, with Black unemployment and unemployment for workers with less than a high school degree at near record lows. Looking back to where we were when President Biden came into office and the progress we have made is extraordinary.

☆ 4 ways to re-engage employees who have checked out at work, according to an HR consultant
▼ + stars: | 2023-02-10 | by ( Elle Hardy | ) www.businessinsider.com time to read: +6 min

He recommends pulse surveys and scaling questions to help work through employee engagement issues. Encourage employees to write personal mission statementsI'm a big advocate of organizations getting employees to write personal mission statements. A personal mission statement defines an employee's values, who they are, and how they define success. When employees feel they have a clear purpose at work and believe their leaders set clear directions and expectations, companies' bottom lines benefit, too. In one case I worked with, incorporating personal mission statements into the hiring process helped the recruitment team find candidates who were aligned with company values and fully committed to their roles.

☆ Rollovers from a 401(k) plan to an IRA: Weigh these 7 factors first
▼ + stars: | 2023-02-09 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Investment funds in 401(k) plans are generally less costly than their IRA counterparts. That's largely because IRA investors are "retail" investors while 401(k) savers often get access to more favorable "institutional" pricing. watch nowOf course, not all 401(k) plans are created equal. For example, more than 30% of 401(k) plans disallow periodic or partial withdrawals by retirees, and about 36% disallow installment payments, according to the Plan Sponsor Council of America, a trade group. Company stockWorkers who own company stock in their 401(k) can get a tax benefit for keeping those holdings in-plan rather than rolling them to an IRA, Jenkin said.

☆ Fed Officials Signal Higher Interest Rates Will Be Needed to Contain Inflation
▼ + stars: | 2023-02-08 | by ( Harriet Torry | Nick Timiraos | ) www.wsj.com time to read: +3 min

A senior Federal Reserve official said the economy will need higher borrowing costs for a few years to bring down inflation and prevent price pressures from strengthening. “We still have some work to do to get interest rates in the right place,” said New York Fed President John Williams at The Wall Street Journal’s CFO Network Summit in New York on Wednesday. The Fed began raising interest rates from near zero last March. Separately, Fed governor Christopher Waller said he was optimistic that the Fed’s rate increases were slowing the economy. “And it might be a long fight, with interest rates higher for longer than some are currently expecting.”Their comments come a day after Fed Chair Jerome Powell said the labor market’s surprising strength underscores why bringing inflation down will take longer and require higher interest rates than many investors have been anticipating.

☆ Auto loan delinquencies are rising. Here's what to do if you're struggling with payments
▼ + stars: | 2023-02-04 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +4 min

Fotostorm | E+ | Getty ImagesFor a rising share of car owners, monthly auto loan payments appear to be evolving into a problem. High prices, interest rates have led to bigger paymentsLoan delinquencies can harm your credit scoreWhile the auto loan delinquency rate is edging higher, the default rate is not, according to Cox. "If you're 30 days late, it impacts your credit score," said Brian Moody, executive editor of Kelley Blue Book. What to do if you're struggling with auto loan billsFor car owners who are pretty sure they're heading toward delinquency, it's important to try preventing the problem from snowballing. If you're struggling to keep up because you don't budget well, that's at least potentially fixable, experts say.

☆ The current job market is a ‘juggernaut,’ economist says. Here are 6 things to know as a jobseeker
▼ + stars: | 2023-02-03 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Unemployment is at historic lowsThe unemployment rate fell to 3.4% in January — the lowest since May 1969. In fact, you'd have to go back to October 1953 to find a lower unemployment rate (3.1%). "The job market is still strong, and workers have opportunities to go out and find a job that's a better fit for them," Zhao said. "The thing that strikes me the most about the labor market is there aren't layoffs," said Mark Zandi, chief economist at Moody's Analytics. That's not necessarily a bad sign — the job market was also strong in the run-up to the pandemic.

☆ Biden's labor secretary says he's watching tech layoffs closely, but for now it's still a good time to find a job
▼ + stars: | 2023-02-03 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +3 min

Labor Secretary Marty Walsh told Insider he's watching tech layoffs closely. The country added over half a million jobs in January, well above economists' expectations, and the unemployment rate fell to its lowest since 1969. "We're watching that closely to see what that means for the tech sector," Walsh told Insider. While the economy probably won't add over half a million jobs every month, he said, gains have been consistently strong over the last 12 months. Other sectors Walsh sees opportunity in: Construction, especially with the bipartisan infrastructure bill doling out billions; healthcare, especially in eldercare and assisted living facilities; nursing; and cybersecurity.

☆ The unemployment rate is at its lowest since 1969
▼ + stars: | 2023-02-03 | by ( Juliana Kaplan | Andy Kiersz | ) www.businessinsider.com time to read: +3 min

The US added over half a million jobs and unemployment fell in January, according to the Bureau of Labor Statistics. The unemployment rate is now at its lowest since 1969, easing fears of a potential downturn. Indeed, hiring was booming so much that the unemployment rate fell to 3.4%. That's the lowest rate since 1969. That's right: The US hasn't seen an unemployment rate this low since the moon landing.

☆ Want a 4-day work week? Move to Maryland, where the government is pushing for it.
▼ + stars: | 2023-02-01 | by ( Aaron Mok | ) www.businessinsider.com time to read: +5 min

Maryland lawmakers introduced a bill that would incentivize employers to adopt a four-day work week. Employers and employees are beginning to see the benefits of a shorter work weekAmerican workers are expressing interest in a shorter work week. Companies outside of the UK that have experimented with a shorter work week also said that they have seen their profits and productivity jump as a result. California and national law makers have introduced similar bills to shorten the work week, though they have stalled and failed, respectively. "I think the question is not if, but when America is going to move to a shorter work week."

☆ Professor who predicted the 'great resignation' says quits will plateau in 2023—here's why
▼ + stars: | 2023-02-01 | by ( Morgan Smith | ) www.cnbc.com time to read: +2 min

The "great resignation" will soon grind to a halt. Klotz coined the "great resignation" in May 2021 to describe the sudden wave of people quitting their jobs due to the Covid-19 pandemic, which led many to re-think where, how and why we work. Companies are improving employee retentionTo attract talent in a perennially tight labor market, many employers have introduced flexible work arrangements, increased wages or revamped their benefits. The ripple effects of the "great resignation" prompted more companies to prioritize existing employees' well-being, whether it's through enhanced mental health resources or transitioning to a permanent hybrid model. In 2023, Klotz says he expects employers to double down on their efforts to attract and retain talent.

☆ To get your tax refund as quickly as possible, follow this rule of thumb, says CPA
▼ + stars: | 2023-01-31 | by ( Ryan Ermey | ) www.cnbc.com time to read: +3 min

Employers have until January 31 each year to file tax documents such as Form W-2 with the IRS and furnish employees with copies. You'll get your refund faster … or find out earlier if you oweThe earlier you file, the sooner you'll get your refund. "Taxpayers should prepare to file electronically and choose Direct Deposit for their tax refund — it's the fastest and safest way to file and get a refund," according to recent IRS taxpayer guidance. If you're hit with a surprise tax bill, you're better off knowing as soon as possible, says Vande Guchte. You're less likely to get your tax refund stolen

☆ House GOP study group is proposing changes to Medicare. Here's what you need to know
▼ + stars: | 2023-01-26 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +3 min

There also is Part D (prescription drug coverage) and Part C (Medicare Advantage Plans), both of which are offered by private insurers. The stakes in a debate like this are high, given the importance of Medicare. Tricia Neuman executive director for the Kaiser Family Foundation's program on Medicare policyRight now, Neuman said, the savings proposals are being described at a fairly high level. "The policy debate starts to get real when the specifics are laid out," she said. "The stakes in a debate like this are high, given the importance of Medicare [for] seniors and younger people with disabilities."

☆ China's Covid wave drives up consumer interest in insurance after health system shortfalls
▼ + stars: | 2023-01-26 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +7 min

For people planning to spend more on that health category, 47% said in December they intend to spend more on health insurance. "This experience is also driving increased interest in commercial health insurance which could cover access to premium private providers," Lipson said. Anecdotes depict a public health system overwhelmed with people at the height of the wave, and long wait times for ambulances. Some of the players in China's health insurance industry include Ping An , PICC and AIA . Hospital fundingHowever, one of the barriers to improving China's public health system is its fragmented financing system, according to Qingyue Meng, executive director at Peking University's China Center for Health Development Studies.

☆ 'Rage applying' isn't new — but is it effective? Here's what workplace experts say
▼ + stars: | 2023-01-25 | by ( Goh Chiew Tong | ) www.cnbc.com time to read: +9 min

The 27-year-old is among many young workers who identify with "rage applying," a term that recently went viral on TikTok. Rage applying is a "more aggressive evolution" of what frustrated workers are doing following the "quiet quitting" phenomenon, Zimmerman added. When I was rage applying, it was a way for me to feel like I had control over my life. That is no doubt a major draw for professionals who were or want to be part of "the big quit" and "rage applying." Benefits of rage applyingNevertheless, apart from potential financial gains, rage applying and going for interviews — should you secure any — could be beneficial, said Bergen.

☆ Bosses are increasing RTO requirements, but experts say it won't stick: 'We're at an inflection point'
▼ + stars: | 2023-01-20 | by ( Jennifer Liu | ) www.cnbc.com time to read: +5 min

More corporate bosses could follow Iger's lead with fresh RTO mandates, says Caitlin Duffy, director of research at Gartner. Plans to boost in-office days unlikely to pan outSo far, most hybrid policies expect workers in offices two to three times a week. But requirements increasing in-office days are unlikely to become a norm, experts say. As of January, workers say they want to work from home for 2.8 days on average, versus employers planning to allow 2.3 days remote. Some leaders are expanding remote work to keep their workers happy with their jobs and pay, Bloom says.

☆ Global IT Spending Decreased in 2022
▼ + stars: | 2023-01-18 | by ( Angus Loten | ) www.wsj.com time to read: +4 min

Companies worldwide made deep cuts in enterprise technology spending last year, with tighter information-technology budgets likely to stretch well into the year ahead. Global IT spending contracted 0.2% in 2022, dropping to $4.38 trillion—a rare instance of corporations spending less on digital business tools than in the previous year, according to IT consulting and research firm Gartner Inc.Gartner had initially estimated that IT spending had increased 0.8% last year. Newsletter Sign-up WSJ | CIO Journal The Morning Download delivers daily insights and news on business technology from the CIO Journal team. Spending on business software and IT services is expected to remain steady year-over-year, together accounting for more than $2.16 trillion in projected spending in 2023, Gartner said. Within IT services, spending on consulting services alone is projected to reach $264 billion, up 6.7% from 2022, Gartner said.

☆ If you want higher pay, your chances are better now than in 6 months, says expert: 'Make your moves as soon as possible'
▼ + stars: | 2023-01-09 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Higher pay has been needed to keep up with inflation. Wage growth, based on average hourly earnings, is up 4.6% from a year ago. watch now"People who switch jobs are much more likely to be getting a raise above inflation than people who are staying in their jobs," Zhao said. But with a possible economic downturn looming, workers seeking higher pay face a more complex decision as to whether to stay or go. With pay rates so competitive now, even some laid-off workers are finding higher offers than what they were earning before, according to Pollak.

☆ U.S. Employers Added 223,000 Jobs in December; Unemployment Fell to 3.5%
▼ + stars: | 2023-01-06 | by ( David Harrison | ) www.wsj.com time to read: 1 min

Employers in many sectors were still struggling late in the year to fill open positions, pushing up wages. U.S. employers added 223,000 jobs in December, a sign of continued strength in the labor market. The jobless rate moved down to 3.5% from a revised 3.6% in November. The December payrolls numbers are a slight decline from November’s revised increase of 256,000, the Labor Department said Friday.

☆ All the U.S. states, cities and counties where companies have to share salary ranges with workers
▼ + stars: | 2023-01-03 | by ( Jennifer Liu | ) www.cnbc.com time to read: +5 min

Current employees are entitled to the salary range of their position, upon request. An employer must provide the employee the salary range when they are hired, if they change to a new position, or if the employee requests it. Who it applies to: Maryland employersNevadaThe law: Employers must provide the salary range to applicants after an initial interview automatically, even if the applicant hasn't asked for it. Plus, they have to provide a salary range for a current employee's position at their request. Who it applies to: Rhode Island employersToledo, OhioThe law: Employers must share the salary range for a position after they extend an offer and if the applicant asks for it .

☆ Goldman Sachs, JPMorgan junior bankers reveal the best — and worst — parts of their jobs
▼ + stars: | 2023-01-03 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +3 min

The 2022 poll captured the thinking of more than 2,500 junior bankers across 50-plus firms. For years, recruiting firm Odyssey Search Partners has been polling first-year junior bankers on their current work experience and future goals. The annual survey has revealed an interesting trend, which is that junior bankers who work at top tier boutique banks tend to be happier. This slideshow contains the specific remarks junior bankers offered to explain why they rated their experience good or bad. Odyssey Search Partners2 Top boutique investment banks based on Mergers & Inquisitions classification of banks as way to categorize the investment banks; this is not to be viewed as a ranking.

☆ New Year’s pay boost: These states are raising their minimum wage
▼ + stars: | 2022-12-31 | by ( Alicia Wallace | ) edition.cnn.com time to read: +5 min

Minneapolis CNN —The current period of high inflation that has significantly impacted the US economy will also influence a New Year’s tradition: The annual state minimum wage increases. By January 1, hourly minimum wages in 23 states will rise as part of previously scheduled efforts to reach $15 an hour or to account for cost-of-living changes. Additionally, nearly 30 cities and counties across the US will increase their minimum wage, according to the EPI, a left-leaning think tank. “The fact that there’s high inflation really just underscores how necessary these minimum wage increases are for workers,” said Sebastian Martinez Hickey, a research assistant at the EPI. “That also means that prices aren’t going to go up at [places like] restaurants.”The federal minimum wage of $7.25 per hour hasn’t budged since 2009, and 20 states have a minimum wage either equal to or below the federal level, making $7.25 their default baseline.

☆ Jobless benefits rolls grow but U.S. labor market remains resilient
▼ + stars: | 2022-12-29 | by ( Dan Burns | ) www.reuters.com time to read: +6 min

Meanwhile, the number of people receiving benefits after an initial week of aid rose 41,000 to 1.710 million in the week ending Dec. 17. The latest report is the first since February to show them breaching the lower end of the 1.7-1.8 million trend that prevailed in the years leading up to the coronavirus pandemic, a level seen then as emblematic of a tight labor market. Reuters GraphicsAnd, while the figures for new benefits claims have been choppy in recent weeks, they have held well below the 270,000 threshold that economists see as a red flag for the labor market. The unemployment rate is estimated to have remained unchanged at 3.7%. "This dichotomy of demand cannot persist indefinitely, but it will help the labor market achieve a softer landing than it would otherwise."

☆ U.S. weekly jobless claims tick higher as the job market remains tight
▼ + stars: | 2022-12-29 | by ( ) www.nbcnews.com time to read: +2 min

The number of Americans filing new claims for unemployment benefits edged higher last week but remain in a range indicating the U.S. job market remains tight, even as the Federal Reserve works to cool demand for labor as part of its bid to lower inflation. Initial claims for state unemployment benefits rose 9,000 to a seasonally adjusted 225,000 for the week ended Dec. 24, the Labor Department said on Thursday. Economists polled by Reuters had forecast 225,000 claims for the latest week. The claims figures have been choppy in recent weeks but have held well below the 270,000 threshold that economists see as a red flag for the labor market. The claims report showed the number of people receiving benefits after an initial week of aid rose 41,000 to 1.710 million in the week ending Dec. 17.

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