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☆ Workers are sour on the job market — but it may not be warranted
▼ + stars: | 2024-01-29 | by ( Greg Iacurci | ) www.cnbc.com time to read: +2 min

Maskot | Digitalvision | Getty ImagesWorkers are sour on the job market — but that pessimism may be somewhat misplaced. So far in 2024, for example, big technology firms including Amazon, eBay, Google and Microsoft have announced job cuts. U.S.-based companies planned about 722,000 job cuts in 2023, almost double those announced in 2022, according to Challenger, Gray & Christmas, an outplacement and executive coaching firm. watch nowHowever, those recent headlines mask strength in the overall job market, economists said. "It's still a very robust and resilient labor market overall," Pollak said.

Persons: Daniel Zhao, Zhao, it's, Mark Zandi, Zandi, they've, Julia Pollak, " Pollak Organizations: Digitalvision, Getty Images Workers, Amazon, eBay, Google, Microsoft, Citigroup, Universal Music Group, U.S, Challenger, Moody's, Federal Reserve Locations: BlackRock, U.S

☆ Layoffs from major companies to start the year have impacted thousands of workers. What to know if you're offered a buyout
▼ + stars: | 2024-01-25 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

Microsoft joined a list of big tech companies that announced major layoffs at the start of 2024. The technology company plans to cut about 9% its Gaming Unit headcount, amounting to 1,900 laid off workers, according to a memo obtained by CNBC. Earlier this week, EBay said it plans to let go 1,000 employees, or 9% of the company's staff. These announcements join a flurry of layoffs from tech behemoths like Amazon and Google . For example, explore options to work fewer hours or find ways to boost your buyout deal, they advise.

Persons: Suzy Welch, Julia Pollak Organizations: Microsoft, CNBC, EBay, Google, Finance, SAP Locations: German

Today, remote work has declined from its levels of the pandemic but is still – depending on how broadly one measures it – three to four times as prevalent as it was in 2019. And remote work tends to be dominated by higher-educated employees, with nearly 40% of those holding advanced degrees hybrid or fully remote. In early January, LinkedIn’s Global State of Remote and Hybrid Work study found that at its peak, in April of 2022, the share of job postings that offered remote work reached 20.3%. The more enduring feature of remote work is now hybrid.”There are also substantial differences within industry and among countries. “You’re moving to where the housing is cheaper.”Not that it is all rosy when it comes to remote work.

Persons: ”, Kory Kantenga, Sandra Moran, Julia Pollak, Nick Bunker, Layla O’Kane, Lightcast, Morris Davis, Andra Ghent, Jesse Gregory, ” Goldman Sachs, Boyer, Brad Case, “ That’s, Software’s Moran Organizations: LinkedIn, Workforce Software, LinkedIn’s Global, Labor Statistics, North, “, Oxford University Press, Economic Studies, Rutgers University, Andra, University of Utah, University of Wisconsin, Ivory, Google, NASA, Middleburg Communities, Green Mountain Locations: U.S, Israel, Ghent, Real Estate, Santa Ana , California, LLC.org . New York, Huntsville , Alabama, Huntsville, Glendale , Arizona, Phoenix, Arlington , Texas, Dallas, Middleburg, San Francisco, New York, Charlotte, Raleigh , North Carolina, Orlando, Jacksonville , Florida, Houston, San Antonio , Texas, Florida, Texas, Vermont, Green Mountain State, California

☆ The No. 1 in-demand remote job companies are hiring for—it can pay over $100,000 a year
▼ + stars: | 2024-01-14 | by ( Morgan Smith | ) www.cnbc.com time to read: +2 min

The most sought-after remote job companies are hiring for isn't in tech, as you might expect. Accountant is the hottest work-from-home job on the market right now. Accountants claimed the top spot in FlexJobs' annual ranking of the top remote jobs in the U.S., thanks to increasing demand for these skilled professionals across several industries, including finance, health care and government. On ZipRecruiter, the share of open accountant roles that were remote jumped from about 8% in 2019 to nearly 20% in 2023, according to data shared with CNBC Make It. "There's a lot of oversight … you can't afford the legal liability of messing this up."

Persons: —, Julia Pollak, Pollak Organizations: Accountants, Baby Boomers, CNBC, of Labor Statistics Locations: FlexJobs, U.S

☆ Bill Ackman, taking a page from his Wall Street playbook, backs rebel candidates to join Harvard’s board
▼ + stars: | 2024-01-10 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

The move by Ackman takes a page out of the playbook that made him successful on Wall Street. Normally, candidates for the 30-member Harvard Board of Overseers are nominated by the university’s alumni association. However, Ackman is now backing four write-in candidates, all graduates of Harvard and Radcliffe College, Harvard Business School or Law School. “We truly feel called to do this now,” Leslie, who has spent 20 years in the US military, told CNN in a phone interview. Calls for change at HarvardNew members are elected to the Harvard Board of Overseers each spring.

Persons: Bill Ackman, Ackman, Claudine Gay, Logan Leslie, ” Leslie, Harvard, Leslie, he’s, “, He’s, Julia Pollak, CNN she’s, ”, Pollak, ZipRecruiter . Pollak, ” Ackman, Zoe Bedell, Alec Williams, Penny Pritzker, Jeffrey Sonnenfeld, Sam Lessin, Pritzker, Lessin, ” Lessin Organizations: New, New York CNN, Harvard University, Ackman, Harvard, Ivy League, Radcliffe College, Harvard Business School, Law School, CNN, US Navy, ZipRecruiter, Reuters, of, Navy Seal, Navy Reserves, Harvard Corporation, Gay, Yale Locations: New York, Ackman, Northern, South Africa, Eastern, of Virginia

☆ There haven't been this few job openings in 2 years. It's exactly what the Fed's been hoping for.
▼ + stars: | 2023-12-05 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

US job openings in October fell to their lowest level since 2021. In October, available job openings fell to 8.7 million from a downwardly revised 9.4 million in September. Driven largely by the retail sector, the number of job openings dipped from a downwardly revised 9.4 million job openings in September, to 8.7 million by the end of October, below the consensus forecast among economists surveyed by Bloomberg, and the lowest level since early 2021. AdvertisementThe latest job opening figures reinforce the case for a soft-landing scenario — job openings are moving higher yet the unemployment has remained relatively low. "By that ratio, a measure of labor market tightness often cited by Fed Chair Jerome Powell, the labor market has slackened substantially in recent months."

Persons: It's, —, Julia Pollak, Jerome Powell, Pollak, CME's Organizations: Service, Federal Reserve, Labor, Bureau of Labor Statistics, Bloomberg, Fed, ING, Barclays

☆ Job data suggests ‘soft landing’ is increasingly likely, economists say
▼ + stars: | 2023-12-05 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

Luis Alvarez | Digitalvision | Getty ImagesThe U.S. economy inched closer to a so-called "soft landing" after a new batch of labor data, economists said. Why a soft landing is like 'Goldilocks' porridge'Steaming bowl of oatmeal porridge, made with Irish oats, wheat berries and barley. A soft landing is like "'Goldilocks' porridge' for central bankers," Brookings Institution economists wrote recently. How the labor market fits inWhy the job market is already 'back into balance'The latest labor data added to encouraging news about a likely soft landing, economists said. Despite the large monthly decline, job openings are still 25% above their February 2020 level, she added.

Persons: Luis Alvarez, Jason Furman, Obama, Jon Lovette, Julia Pollak, Pollak Organizations: Digitalvision, Federal Reserve, U.S . Department of Labor, Labor, Harvard University, White House Council, Economic Advisers, Getty, Fed, Brookings, American Economic Association

☆ Return to office is 'dead,' Stanford economist says. Here’s why
▼ + stars: | 2023-11-30 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

"Return to the office is dead," Nick Bloom, an economics professor at Stanford University and expert on the work-from-home revolution, wrote this week. The share of paid work-from-home days has been "totally flat" this year, hovering around 28%, said Bloom in an interview with CNBC. "We are three and a half years in, and we're totally stuck," Bloom said of remote work. Why remote work has had staying powerThe initial surge of remote work was spurred by Covid-19 lockdowns and stay-at-home orders. While remote work is the labor market's new normal, there's significant variety from company to company, Pollak said.

Persons: Nick Bloom, Bloom, hasn't, Julia Pollak, Pollak, it's Organizations: Stanford University, Survey, CNBC, Census, Research, Finance, Employers Locations: U.S

☆ You're probably not getting a big raise this year. But don't worry, it's for the good of the economy.
▼ + stars: | 2023-11-09 | by ( Madison Hoff | ) www.businessinsider.com time to read: +5 min

Wage growth has slowed; average hourly earnings increased 4.1% year over year in October. That measure of wage growth has steadily slid from the almost 6% year-over-year increases in March 2022 and April 2022. Even with slowing wage growth, workers may finally be seeing their earnings catch up to the big spike in inflation. Year-over-year changes from BLS show there has been real wage growth in recent months, based on average hourly earnings outpacing CPI inflation. "I think if we continue to see wage growth moderate, hopefully inflation moderates even more, and we continue to see more workers getting more inflation-adjusted raises."

Persons: —, Julia Pollak, Lydia Boussour, Jerome Powell, Pollak, Nick Bunker, Bunker Organizations: Service, of Labor Statistics, Fed, Economics, Wells, Wells Fargo Bank, BLS, North America Locations: Wells Fargo

☆ Here’s how rising pay transparency is causing an employer compensation information ‘arms race’
▼ + stars: | 2023-11-06 | by ( Jared Mitovich | ) www.cnbc.com time to read: +1 min

Rising pay transparency is causing a new kind of competition among employers — and it's not necessarily for talent. Instead, the shift in employers opting to share salaries on job listings has sparked an "arms race" for better starting pay and other benefits, Julia Pollak, chief economist at ZipRecruiter, told CNBC. And more employers are also including a range of non-cash benefits, perks and flexibility options in their job postings, according to a recent ZipRecruiter survey on pay transparency. "We've seen a pretty dramatic uptick in the number of employers who are actually even including wages on our job postings," Stahle said. In addition, the tight labor market and pay transparency are acting as dual forces — with employers posting wages and benefits up front as a way to attract workers who have been difficult to draw in.

Persons: —, it's, Julia Pollak, Gen Z, Cory Stahle, Stahle Organizations: CNBC, Finance Locations: California, Colorado, Washington

Market-churning economic news is lacking this week, but that doesn’t mean Wall Street and the economy can rest easy. The political news heats up, with Donald Trump set to testify in his civil fraud trial in New York. And elections take place across the country on Tuesday that could show where the country stands politically one year out from the 2024 election. Meanwhile, a softer-than-expected jobs report on Friday had some analysts saying the economy was headed for a downturn. “The unemployment rate rose just a tenth to 3.9% in October versus September which the BLS called little changed,” he said.

Persons: Donald Trump, State Anthony Blinken, Bond, ”, Julia Pollak, ” Pollak, ” Chris Rupkey, Powell, ” Powell, “ Organizations: GOP, Hamas, State, West Bank, Federal Reserve, ZipRecruiter, Fed, Bureau of Labor Statistics, BLS, BCA Research Locations: New York, Miami, Israel, Iraq, Turkey, Washington

☆ Here's where the jobs are for October 2023 — in one chart
▼ + stars: | 2023-11-03 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

The October jobs report showed a cooling labor market in the U.S., with many sectors showing minimal or negative growth as the economy added a relatively meager 150,000 jobs overall. If private education was included in that category, as some economists choose to do, there would have 89,000 jobs added in that group. "It's usually a bad thing when job growth is led by the public service, but in this case it is long overdue. The private sector jobs recovery was much stronger and much faster than that of the public sector," said Julia Pollak, chief economist at ZipRecruiter. Information shed 9,000 jobs, while transportation and warehousing lost more than 12,000 jobs.

Persons: Julia Pollak, Pollak Organizations: of Labor Statistics, ZipRecruiter, Manufacturing, BLS, United Auto Workers, Detroit Locations: U.S

☆ Cooling job market no reason for panic yet, economists say: 'It's a slowdown, not a collapse'
▼ + stars: | 2023-11-03 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Brown | Afp | Getty ImagesThe job market continues to show signs of cooling, but alarm bells aren't ringing just yet, economists said. The unemployment rate rose to 3.9% in October, from 3.8% in September, the BLS said. "There's almost no exception in this report: Every indicator suggests a slowing, slackening labor market," she said. "The days of explosive growth are gone, as the labor market shifts into healthier and more sustainable territory," said Noah Yosif, lead labor economist at UKG, a payroll and shift management company. The rise in the unemployment rate may also just be a sign that the extremely hot labor market is loosening a bit, Bunker added.

Persons: Frederic J, Brown, Julia Pollak, Pollak, Noah Yosif, Aaron Terrazas, Terrazas, Andrew Hunter, Nick Bunker Organizations: Afp, Getty, U.S . Bureau of Labor Statistics, BLS, Workers, Finance, Union, Capital Economics Locations: Los Angeles, U.S

☆ Unemployment among Hispanic workers rises at faster pace in October than overall rate
▼ + stars: | 2023-11-03 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Spencer Platt | Getty Images News | Getty ImagesThe labor market showed greater deterioration for Hispanic workers, whose unemployment rate rose more than that of the U.S.', according to data released Friday by the Department of Labor. The overall unemployment rate rose 0.1% to 3.9% last month, the highest level since January 2022, against expectations that it would hold steady at 3.8%. Among Hispanic Americans, the jobless rate rose 0.2% to 4.8%. Black and Hispanic Americans were hit particularly hard by the business shutdowns in the depths of the Covid pandemic, with unemployment rate for Black workers peaking at 16.8% in 2020 and Hispanic jobless rate surging as high as 18.8%. The overall unemployment rate hit a high of 14.7% in April 2020.

Persons: Spencer Platt, Julia Pollak, ZipRecruiter's Organizations: NEW, Getty, U.S, Department of Labor, CNBC Locations: Manhattan, New York City, America

☆ The most in-demand AI job of 2023 can pay over $200,000 and offers remote opportunities
▼ + stars: | 2023-11-02 | by ( Morgan Smith | ) www.cnbc.com time to read: +1 min

Nearly one year since ChatGPT was introduced to the world, the excitement surrounding generative artificial intelligence has hardly waned — especially in the job market. Searches for generative AI jobs on Indeed have increased almost 4,000% in the last year, and openings for generative AI jobs are up 306% over the same period. The most sought-after AI job companies are hiring for isn't in engineering, as you might expect. Data scientist is the hottest AI job on the market right now. In the last six months, it was the most-advertised AI job on Indeed and the second most-posted on ZipRecruiter, according to data exclusively shared with CNBC Make It.

Persons: ChatGPT, Julia Pollak Organizations: CNBC

☆ The AI boom is the newest threat to women's presence in the workforce
▼ + stars: | 2023-11-02 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +4 min

A new study found that 7.8% of jobs held by women, and 2.9% held by men, could be automated. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . From an economic perspective, more women working means more entrepreneurship , fewer labor shortages , and more disposable income to spread around businesses. Retraining workers could help mitigate the impacts of AI job replacementTo be sure, the AI future has yet to be written. AdvertisementAdvertisementHowever, even if AI does pose an additional threat in the years ahead, it won't change things overnight, giving some women time to prepare.

Persons: —, Michael Chui, Julia Pollak, ZipRecruiter, Aaron Terrazas Organizations: Service, International Labour Organization, Pew, McKinsey Global Institute Locations: United States

☆ U.S. Job Openings Were Steady in September
▼ + stars: | 2023-11-01 | by ( Santul Nerkar | More About Santul Nerkar | ) www.nytimes.com time to read: +3 min

The Federal Reserve closely monitors job openings to understand whether the economy is running too hot. The overall trend of slowing job openings is a sign that rate increases have cooled the economy, according to experts. Job openings, which reached a record of more than 12 million in March 2022, have trended down, as has the job-quitting rate, while separations have been flat. As openings rose slightly in September, the number of openings per unemployed worker was flat, at 1.5, the same as August. Job openings remain much higher than they were before the pandemic, and the number of unemployed workers per job opening is much lower.

Persons: Julia Pollak, ”, Sarah House, Stephen Juneau, What’s Organizations: Federal Reserve, Fed, ” Fed, Bank of America, Treasury, Labor Department Locations: Wells Fargo, September’s

☆ Applying for too many jobs may keep you from getting hired. Avoid sending a ‘firehose of applications,’ economist warns
▼ + stars: | 2023-11-01 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +3 min

In this article ZIP Follow your favorite stocks CREATE FREE ACCOUNTFiladendron | E+ | Getty ImagesApplying to multiple job openings can increase your chances of landing a new gig. However, if you're thinking of sending out what one economist called a "firehose of applications" all at once and then just waiting for responses, think again. "The problem is that sometimes people take a college application approach to the job search," said Julia Pollak, chief economist at ZipRecruiter. 'Set a daily goal of a number of applications'There are more strategic ways to go about the job search and application process instead of applying to jobs on mass, according to experts. Julia Pollak chief economist at ZipRecruiter

Persons: Julia Pollak, Pollak, Nick Bunker, —, Gabrielle Davis Organizations: ZipRecruiter, Finance, Union, U.S . Department of Labor, ZipRecruiter Survey, New Locations: U.S

☆ US paychecks grew faster than expected in the third quarter
▼ + stars: | 2023-10-31 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

Washington, DC CNN —Total compensation paid to US workers grew at a faster pace than expected last quarter, pointing to ongoing momentum in the job market. That’s a faster pace than the 1% gain registered in the second quarter. Wage growth advanced at a robust 1.2% pace in the July-through-September period, accelerating from the prior three-month period’s 1% rise, contributing to a pickup in overall compensation growth. From a year earlier, wages and benefits grew 4.3% in the third quarter, a slower pace than the second quarter’s 4.5% annual gain and the first quarter’s 5% rate. An analysis from jobs site ZipRecruiter showed that consumer prices rose faster than wages from the first quarter of 2020 through this year’s second quarter: Consumer prices grew 17.2%, versus compensation growth of 13.6%.

Persons: ” Julia Pollak, ZipRecruiter, ” Pollak, “, ” Organizations: DC CNN —, Labor Department, Federal Reserve, CNN Locations: Washington, That’s

☆ There's a 'radically different' wage growth forecast in 2024, says economist. What that means for you
▼ + stars: | 2023-10-30 | by ( Jared Mitovich | ) www.cnbc.com time to read: +4 min

In June, employers surveyed by consulting firm WTW said they were planning to increase salaries by about 4% in 2024, compared to 4.6% in 2023. Wage growth has 'come down pretty steadily'Employees are entering a tighter job market, which has affected wage predictions, said Terrazas. "We should expect less turnover to continue to tamp down wage growth in coming months," according to the report. At the current rate, Indeed's tracker forecasts posted wage growth to reach the 2019 average of 3.1% in late 2023 or early 2024. Wage growth has "come down pretty steadily" since that pandemic high, Indeed economist Cory Stahle said.

Persons: Scott Dalton, WTW, Mercer, LaCinda Glover, —, Cory Stahle, they've, Julia Pollak, Terrazas, Pollak Organizations: Workers, Bloomberg, Getty, Mercer, Employees Locations: Columbus , Texas

“I have been consistently surprised at the resilience of consumer spending,” Christopher Waller, an influential member of the Fed’s board, said in a speech this month. “The acceleration of consumer spending on experiences (has) propelled us towards another outstanding quarter,” said CEO Jason Liberty. Wealthier households, in particular, have enjoyed substantial growth in home values and stock portfolios, which are likely juicing their spending. Spending on the bank's credit and debit cards by households with incomes below $50,000 has risen faster than spending by higher-earning clients. “Consumer spending across all segments from high to low has remained stable since March."

Persons: —, they've, ” Christopher Waller, ”, Jason Liberty, “, Tim Duy, they're, Julia Pollak, Sarah Wolfe, Morgan Stanley, Small, Bret Csencsitz, Aditya Bhave, Valerie Zaffina, Zaffina, Bhave, Biden, Christopher Suh, ___ Organizations: WASHINGTON, U.S, Federal Reserve, Royal Caribbean Group, Travelers, ZipRecruiter, Fed, Gotham, Bank of America, Visa Locations: U.S, New York City, COVID, Ramsey , New Jersey, I’m, Washington, New York

☆ Schools, hospitals, and construction: These are the jobs with labor shortages that could stick around for years
▼ + stars: | 2023-10-28 | by ( Madison Hoff | ) www.businessinsider.com time to read: +4 min

Labor shortages in healthcare, education, and other fields aren't going away soon. Childcare and skilled trades may also see labor shortages stick around. "For economists, labor shortages are these longer term, enduring structural shortages where labor supply is not able to adapt to changes in demand," Aaron Terrazas, chief economist at Glassdoor, told Insider. Indeed economist Cory Stahle pointed to overlooked talent pools as a way to address labor shortages. AdvertisementAdvertisementBelow are some of the kinds of work and industries where there may be labor shortages long term.

Persons: —, Aaron Terrazas, Julia Pollak, ZipRecruiter, Pollak, it's, isn't, Terrazas, Cory Stahle, Stahle Organizations: Service, Pew Research Center, of Labor Statistics

☆ The 3 in-demand soft skills candidates are 'most lacking in,' according to ZipRecruiter
▼ + stars: | 2023-10-23 | by ( Morgan Smith | ) www.cnbc.com time to read: +4 min

Hiring managers are less and less impressed by where you went to college — or if you have a four-year degree at all. Nearly half — 45% — of companies have dropped degree requirements for some roles this year, according to new research from ZipRecruiter, which surveyed more than 2,000 U.S. employers. Instead, companies are prioritizing skills over education: 42% of companies are now explicitly using skills-related metrics to find candidates, LinkedIn told CNBC Make It in June, up 12% from a year earlier. "Employers have the perception that younger generations are no longer picking up these important soft skills at school or at college," she explains. Between 2021 and 2022, when companies were desperate to fill vacancies, many lowered their recruiting standards, hiring more "novice employees" lacking these important soft skills, says Pollak.

Persons: Julia Pollak, Marissa Morrison, Morrison, Pollak, Gen, Amanda Augustine, you've, Augustine Organizations: CNBC, Harvard Business, Glass Institute, Employers, Society for Human Resource Management, Global Locations: ZipRecruiter

☆ Remote work is still 'frustrating and disorienting' for bosses, economist says—their No. 1 problem with it
▼ + stars: | 2023-10-17 | by ( Morgan Smith | ) www.cnbc.com time to read: +3 min

Remote work has plummeted from its pandemic high. Remote work's gradual decline reflects the ongoing push from companies to get employees back in the office: 43% of companies have set tighter limits around remote work or mandated some form of return-to-office over the past year, ZipRecruiter reports. Although some bosses have recognized the benefits of remote work — and studies have shown that employees are often more productive and less likely to quit when they have some degree of workplace flexibility — many are still hesitant to adopt remote work permanently. "It's an incredibly challenging, frustrating and disorienting time for employers when the tool they relied on most, observing employees in-person, is gone," ZipRecruiter chief economist Julia Pollak tells CNBC Make It. "The challenges with remote work aren't going to be solved overnight, but making that change is a strong start."

Persons: Goldman Sachs, Julia Pollak, Pollak, haven't Organizations: Business, Meta, CNBC, Workers Locations: U.S, ZipRecruiter

☆ Inflation held steady in September as housing and gas prices keep going up
▼ + stars: | 2023-10-12 | by ( Madison Hoff | ) www.businessinsider.com time to read: +4 min

That's the same as the year-over-year increase of 3.7% in August. Core CPI increased 4.1% from September 2022 to September this year. AdvertisementAdvertisementInflation is still elevated and held steady in September, based on Consumer Price Index or CPI data out Thursday. The year-over-year increase in this index had been falling, based on data before Thursday's data release. AdvertisementAdvertisementCore CPI index increased 0.3% from August to September.

Persons: —, Julia Pollak, ZipRecruiter, Pollak, Price, Gregory Daco Organizations: Service, Consumer, Index, CPI, Bureau of Labor Statistics, BLS, payrolls

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