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☆ 'Dirty Jobs' host Mike Rowe weighs in on the state of employment and layoffs
▼ + stars: | 2023-04-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Dirty Jobs' host Mike Rowe weighs in on the state of employment and layoffsHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC. Mike Rowe, host of “Dirty Jobs," joins the show to discuss how employers have been taking back the power from American workers.

☆ Big tech companies continue cost cutting
▼ + stars: | 2023-04-03 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +5 min

Tech companies have chased short-term fads in a desperate attempt to win the favor of Wall Street investors — and it's making the online experience worse. As tech companies continue to focus on efficiency, it's clear that one metric is the most important: revenue per employee. After years of over-hiring, tech companies are now looking to squeeze the most efficient performance from each worker, my colleague Hasan Chowdhury reports. But it's another sign that tech companies are drifting away from pro-remote work policies. Google, Meta, and Microsoft have all failed to make their AR and VR devices into mainstream successes.

☆ Nearly half of American workers don't take all of their PTO
▼ + stars: | 2023-03-31 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

46% of American workers take less paid time off than they are offered, per the Pew Research Center. Respondents worry taking time off will slow down their career advancement, among other concerns. They found that nearly46% of American workers aren't taking all of their allotted paid time off. Lower-income workers said they were "more likely" to worry about losing their jobs for taking all of their time off than "middle and upper-income workers." Workers "want to know they can take time off when they need it," she said, "but this new data shows us that many workers don't. "

☆ Employees Need Positive Feedback From Bosses. Without It, People Quit.
▼ + stars: | 2023-03-28 | by ( Molly Lipson | ) www.businessinsider.com time to read: +11 min

A 2021 study by the global management-consulting firm McKinsey found that the top-two reasons people quit their jobs are because they don't feel valued by their company or their manager. And when employees feel happy and rewarded by their jobs, they are also more productive. How to really mean it when you give an employee praiseFor employees to really feel valued at work, it's important that they are recognized on a regular basis. While a simple acknowledgement of good work can be a powerful tool, Baumgartner told me that a simple "thank you" isn't sufficient to truly appreciate employees' work. Peer-to-peer recognition is also an important way employees can feel valued.

☆ You no longer need a college degree to work at these 7 companies
▼ + stars: | 2023-03-25 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +2 min

Persistent labor shortages are causing more and more companies to drop degree requirements. That gap represents millions of potential workers who could do a great job even if they don't have a college degree. Now, a number of companies have scrapped degree requirements to widen their net and diversify their workforce. As more companies cut degree requirements, Burning Glass Institute predicts another 1.4 million jobs will open to these workers in the next five years. Here are seven companies who've dropped degree requirements and are leading this skill-based sea change in the job market.

☆ Sens. Booker, Warnock press big bank CEOs to pause overdraft fees after SVB failure
▼ + stars: | 2023-03-22 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

Cory Booker and Raphael Warnock have urged the CEOs of 10 major banks to waive overdraft and nonsufficient fund fees that could cost some Americans more than $100 a day in the wake of the failures of Silicon Valley Bank and Signature Bank. The letters went to the CEOs of Wells Fargo , U.S. Bank , Truist Financial Corp ., TD Bank , Regions Financial Corp ., PNC Bank , JPMorgan Chase , Huntington National Bank , Citizens Bank and Bank of America . Regulators shuttered New York-based Signature Bank days later in an effort to stall a potential banking crisis. Booker and Warnock said banking customers whose paydays fell between March 10 and March 13 were unable to receive or deposit checks from payroll providers banking with SVB and Signature Bank. Treasury Secretary Janet Yellen on Tuesday said the department is prepared to guarantee all deposits for financial institutions beyond SVB and Signature Bank if the crisis worsens.

☆ What would a federal expansion of deposit insurance look like?
▼ + stars: | 2023-03-22 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +7 min

That’s the Federal Deposit Insurance Corporation’s standard limit, meaning any bank deposits up to that amount are protected by the independent government agency. But now there’s growing support for raising that insurance cap. A higher insurance cap doesn’t automatically mean banks will be subject to tighter regulations, Dollar noted, but there could be some call for it. The FDIC insurance limit has been raised seven times since 1950 — and $250,000 also isn’t a calculated number, Collins said. In 2008, the FDIC used the same system for temporary unlimited deposit insurance guarantee on certain accounts.

☆ Republicans' plans to cut the budget could mean millions lost in back pay, more dangerous workplaces, and jobs sent overseas, the White House says
▼ + stars: | 2023-03-22 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The White House is once again attacking the Freedom Caucus for its plan to cut spending. Per a fact sheet, the White House said the Caucus' plan would result in lost wages and harmful working conditions. Through cutting back on investigations and inspections, the White House estimates that the House Freedom Caucus' plans would cost 135,000 workers an average of $1,000 in back pay. Reversing spending in the Inflation Reduction Act – the cutting of which is one of the House Freedom Caucus' core tenets — would move millions of jobs for those projects overseas, the White House said. —House Freedom Caucus (@freedomcaucus) March 10, 2023Last week, the Freedom Caucus unveiled their broad plan to address the debt ceiling through major spending cuts.

☆ Deel Speed: The inside story of a $12 billion HR startup's breakneck growth
▼ + stars: | 2023-03-20 | by ( Rob Price | ) www.businessinsider.com time to read: +32 min

Insider spoke with more than 30 current or former Deel workers about the HR company's extraordinary rise, and the unconventional tactics that made it possible. "I think if you talk to anyone, they would say that Alex is the face but all decisions run through Phillipe," one former Deel worker told Insider. "They lose every employment and labor protection," Valerio De Stefano, a professor at Osgoode Hall Law School, said of independent contractors. Alex Bouaziz, Deel on Centre Stage during day two of Collision 2022 at Enercare Centre in Toronto, Canada. The company didn't have an internal human-resources team until sometime in 2021, by which point it had grown to hundreds of people.

While remote workers are hitting the green on weekday afternoons, productivity isn't dropping. That's good news for leisure businesses and shows remote work has changed people's work structures. While some companies have called employees back to the office, Bloom doesn't think remote work is going anywhere. All those remote workers hitting the green doesn't necessarily mean people are working less. This will raise 'Golf productivity' — the number of golf courses played (and revenue raised) per course."

Disability insurance can also cover mental health illnesses like depression or anxiety disorders, and this means a lot to me. Luckily, it's easy to get an individual disability insurance policy on your own at an affordable rate — I did it several years ago. So if you normally bring home $5,000 per month, disability insurance will probably pay you up to 60% of that amount of $3,000. The fact that I have an individual disability insurance policy brings me a lot of comfort. Having disability insurance is giving me more benefits than the cost, so it's a must-have in my book.

Inflation has reduced the value of bonuses that weren't raised by $25.5 billion. That means scores of employees who count on their bonuses lost purchasing power. Here's a look at the potential impact of inflation on bonuses for individual employees and entire sectors. We calculated average bonuses by sector for both years, assuming that bonuses are equal to 11% of an employee's salary, a figure published by job-search platform Zippia. Using the CPI inflation calculator, we found the value of 2021 bonuses a year later to uncover how much employees getting the same size bonus in 2022 lost from inflation.

☆ Tyson Foods to lay off 1,700 workers, close two chicken plants
▼ + stars: | 2023-03-14 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

A package of Tyson Foods Inc. chicken is arranged for a photograph in Tiskilwa, Illinois. Tyson Foods will close two chicken plants in May, affecting nearly 1,700 employees. "While the decision was not easy, it reflects our broader strategy to strengthen our poultry business by optimizing operations and utilizing full available capacity at each plant," Tyson said in a statement to CNBC. The company's plants in Van Buren, Arkansas, and Glen Allen, Virginia, will close May 12. Coca-Cola offered voluntary buyouts to North American workers, while PepsiCo cut jobs in its Frito-Lay and North American beverage units.

☆ Why Trump is being called out in the Silicon Valley Bank collapse
▼ + stars: | 2023-03-13 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

Some Democrats have been blaming Trump-era regulations for Silicon Valley Bank's collapse. In 2018, Trump signed into law a bill that rolled back provisions in the Dodd-Frank Act and loosened oversight over banks. On Friday, regulators shut down Silicon Valley Bank following a tumultuous few days of failing to raise capital and a flood of customers withdrawing their funds from the bank. "Greg Becker, the chief executive of Silicon Valley Bank, was one of the ‌many high-powered executives who lobbied Congress to weaken the law," Massachusetts Sen. Elizabeth Warren wrote in a Monday opinion piece. Vermont Sen. Bernie Sanders said in a statement that the "failure of Silicon Valley Bank is a direct result of an absurd 2018 bank deregulation bill signed by Donald Trump that I strongly opposed."

☆ Here's a look at how work-life balance compares in the US, France, Australia, and the UK
▼ + stars: | 2023-03-12 | by ( Jordan Hart | Sam Tabahriti | ) www.businessinsider.com time to read: +8 min

Insider compared the work-life balance of the US, France, Australia, and the UK. The clip prompted Insider to look into how work-life balance in the US compares to other developed countries like the UK, France, and Australia. In the US, employees worked more than in the UK, France, and Australia at an average of 1,750 hours per year, the report found. UKGetty ImagesIn a 2023 worldwide work-life balance index by Forbes, the UK claimed five spots in the top 25 cities with the best work-life balance. "I'm among those who think it's important to have a work-life balance," Culleron told Insider.

☆ The tech layoffs have created the perfect moment for tech workers to get organized and unionize, but getting there isn't easy
▼ + stars: | 2023-03-08 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +7 min

The widespread tech layoffs shattered long-held illusions about the tech industry and its culture. That's pushing interest in organizing and unionization efforts across the tech industry, labor experts said. There are hurdles ahead, as tech workers fear for their jobs, but the perspective has forever changed. These episodes show a certain appetite for collective action in the tech industry, the experts said, laying a foundation for things to come. Tech workers have taken inspiration from the service workers at their respective companies, many of whom have unionized in recent years, Code-CWA's Kinema said.

☆ Economists, activists warn lawmakers of looming debt default if Congress cannot agree to raise the debt ceiling
▼ + stars: | 2023-03-07 | by ( Chelsey Cox | ) www.cnbc.com time to read: +5 min

Mark Zandi, chief economist at Moody's, said an impending default would "be a catastrophic blow to the already fragile economy." "Given the dramatic reduction in government spending in this scenario and the already fragile economy, the economy suffers a recession in 2024. "Bond investors, unsure of how this legal uncertainty would be resolved would demand a much higher interest rate in compensation. In his opening remarks, Holtz-Eakin also said that skirting default would have "serious and adverse economic effects." "House Republicans don't seem concerned about the upcoming debt limit deadline," Warren said in her opening remarks.

☆ What to do if Supreme Court strikes down Biden's student loan forgiveness plan
▼ + stars: | 2023-03-06 | by ( Annie Nova | ) www.cnbc.com time to read: +5 min

Demonstrators in favor of canceling student debt gather outside the U.S. Supreme Court in Washington, D.C., on Feb. 28, 2023. Bloomberg | Bloomberg | Getty ImagesKeep your payments on holdThe Covid pandemic-era policy suspending federal student loan payments and the accrual of interest is still active. Those are the ideal ways to postpone your federal student loan payments, because interest doesn't accrue. For example, full-time teachers who work for five consecutive years in a low-income school may be eligible for up to $17,500 in loan forgiveness under the Teacher Loan Forgiveness Program. And lawyers in Texas who work for specific legal aid programs may be eligible for the Texas Student Loan Repayment Assistance Program.

☆ U.S. outbound investment measure should not be overly broad, Biden official says
▼ + stars: | 2023-03-02 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, March 2 (Reuters) - The Biden administration is considering a pilot program to address risks about outbound investment in China, Commerce Secretary Gina Raimondo said Thursday. Anything that's overly broad hurts American workers and the economy." Raimondo told Reuters after the forum that it was not clear when the administration will finalize any outbound investment restrictions. Efforts to incorporate an outbound investment screening plan in legislation failed in Congress last year. Departments of Treasury and Commerce $10 million each to identify what it would take to implement a program to address national security threats from "outbound investment" in certain sectors.

☆ American workers aren't returning to the office like their international counterparts—here's why
▼ + stars: | 2023-03-02 | by ( Jennifer Liu | ) www.cnbc.com time to read: +1 min

Workers around the world throughout Europe and Asia are going back to the office while U.S. employees are still working from home. Meanwhile, office attendance has returned to 70% to 90% in Europe and the Middle East, and around 80% to 110% in some Asian cities, meaning some workers are spending more time in the office now than pre-Covid. In particular, several global cities steadily reached at least 75% office occupancy throughout 2021 and 2022, according to JLL data, including Tokyo, Seoul, Singapore, Paris and Stockholm. Average office attendance in 10 major U.S. metros only recently reached 50% for the first time since the pandemic hit, based on data from Kastle Systems. Here are three big reasons why American workers aren't returning to the office while their global counterparts are:

☆ The racial retirement savings gap remains wide – How these state IRA programs are working toward equity
▼ + stars: | 2023-02-28 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

Indeed, about 64% of Hispanic workers, 53% of Black workers and 45% of Asian American workers have no access to a workplace retirement plan, according to AARP. State-facilitated individual retirement account savings programs have stepped in to attempt to close that racial savings gap. As of the end of January, there were more than $735 million in assets in these state-facilitated retirement savings programs, the center found. How it worksRather than competing against large corporate retirement plans, state-facilitated retirement savings programs turn their focus toward an underserved corner of the market: small businesses. Most of these state programs require businesses to either offer a workplace retirement plan or to help automatically enroll their workers into the state's program.

☆ Top Senate Democrats press Chamber of Commerce on threat to sue FTC over noncompete clause ban
▼ + stars: | 2023-02-28 | by ( Chelsey Cox | ) www.cnbc.com time to read: +4 min

Signage is seen on the Chamber Of Commerce Building in the Manhattan borough of New York City, New York, U.S., April 21, 2021. WASHINGTON — Two top Senate Democrats on Tuesday will press the largest U.S. business advocacy organization on its threat to sue the Federal Trade Commission over a plan to ban noncompete clauses. Elizabeth Warren, D-Mass., and Sheldon Whitehouse, D-R.I., are requesting detailed information from the U.S. Chamber of Commerce about its plan to sue the FTC to halt the proposal. The new rule that would bar employers from imposing noncompete clauses could increase workers' wages by $300 billion a year, according to the FTC. A ban in Oregon helped raise wages for lower wage workers by 2% to 3%, according to a 2021 study.

☆ Starbuck's interim CEO Howard Schultz said he doesn't believe unions have a place at the coffee giant as unionization efforts spread
▼ + stars: | 2023-02-22 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +4 min

Starbucks' interim CEO Howard Schultz said unions have no place at the company in a CNN interview. He said that unionization efforts reflect a "much bigger problem" beyond individual companies. Schultz, who stepped in as interim CEO of Starbucks in April 2022, told Harlow: "I don't think a union has a place in Starbucks." Schultz argued that Starbucks worker unionization efforts in America are reflective of a much bigger macro problem beyond the company itself. Unionization efforts from Starbucks workers began in Buffalo, New York in 2021 as workers grew tired of stores being consistently understaffed, poor working conditions during the pandemic, as well a demand for higher wages.

☆ What is a microaggression? 15 things people think are fine to say at work — but are actually racist, sexist, or offensive.
▼ + stars: | 2023-02-15 | by ( Marguerite Ward | ) www.businessinsider.com time to read: +2 min

Microaggressions are indirect or subtle expressions of racism, sexism, ageism, or ableism. A number of Black workers report facing less discrimination and fewer microaggressions working from home than when they're at the office. Some women of color say remote work has helped them in the same way, too. From telling a new female worker that she "looks like a student" to asking a Black colleague about her natural hair, microaggressions can make a workplace feel uncomfortable, unsafe, and toxic. Since microaggressions are subtle, it's often hard to know if you're committing one or if you're on the receiving end.

☆ Report says Americans are half as likely to be on vacation now as they were in the 80s, but why?
▼ + stars: | 2023-02-10 | by ( ) www.businessinsider.com time to read: +2 min

The Washington Post analyzed vacation data over decades to find out why Americans take vacation less often than they used to. Many workers have PTO, personal days, and sick days lumped into the same pool of time. Blue-collar workers, such as construction workers, are the least likely to be on paid vacation, while teachers are the most likely to take time off. Older and more educated workers also are more likely to be on vacation, according to the Post. Also, workers' paid time off plans increasingly lump vacation, sick, and personal days into one category, the Post reported.

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