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☆ Retirement Crisis: Boomers Need to Work Longer, No One Will Hire Them
▼ + stars: | 2024-06-18 | by ( Ann C. Logue | ) www.businessinsider.com time to read: +10 min

In order to avoid economic catastrophe, he argued, people should save more money and work longer. The current Social Security retirement age is 67, but most Americans depart the workforce earlier than that. For one, many older people cannot work because of a disability or because they need to care for someone else with a disability. And some older workers have heard all the corporate buzzwords and blather before, so they don't buy into management's sloganeering, rendering them "difficult." He's asking people who have not yet retired to work longer than their elders did and to save even more money, without changing the systematic barriers to either.

Persons: Larry Fink, behemoth BlackRock, Fink, Daniel Ross, Ross, he's, Emily Dickens, SHRM's, We've, Stacie Haller, Patrick Button, Button, ResumeBuilder.com, Gen, we've, Mother Jones, Lilly Organizations: Social Security, Lawyers, Society, Human Resources Management, US Chamber of Commerce, Tulane University, IBM, Employment, Commission, Scripps Medical Clinic, Employers Locations: Down, Texas, Austin, San Diego

☆ The retirement Catch-22
▼ + stars: | 2024-06-18 | by ( Ann C. Logue | ) www.businessinsider.com time to read: +10 min

The current Social Security retirement age is 67, but most Americans depart the workforce earlier than that. Instead of making it easier for Americans to save for retirement and work as long (or as short) as they want, Fink is setting up a catch-22: The economy needs aging Americans to work longer, but many companies simply don't want them. One of Button's studies looked at "bridge jobs , " part-time jobs in administration or retail that many people use to ease into retirement and cushion their finances. The same year, Scripps Medical Clinic in San Diego was ordered to pay $6.9 million for setting a mandatory retirement age for physicians of 70, regardless of the doctors' interest or abilities. And some older workers have heard all the corporate buzzwords and blather before, so they don't buy into management's sloganeering, rendering them "difficult."

☆ Hybrid workers are happier and just as productive as office workers, new study says
▼ + stars: | 2024-06-15 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +1 min

Hybrid work boosts job satisfaction, a study published in Nature found. Hybrid work also fosters employee well-being and benefits businesses like cafes and gyms. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementOne of the greatest debates of the post-pandemic age is whether hybrid work is the best — or worst — of both worlds. Advocates of hybrid work say it helps them achieve a better work-life balance and is more engaging.

Persons: — Organizations: Service, Employers, Business Locations: Nature

☆ Nvidia’s wild ride in 2024 is boosting insiders’ wealth. What it could mean for employees holding the stock
▼ + stars: | 2024-06-11 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +5 min

The stock's rise has been a boon to employees and insiders at the chip company who own shares. So-called RSUs provide workers with shares at a future date following a vesting period of typically three to five years. Employers can also offer incentive stock options, which allow employees to buy a specified number of shares at a stated – or strike – price. Workers who exercise their ISOs are also subject to capital gains taxes when they sell the stock they've purchased. Nonqualified stock options are another form of equity compensation.

Persons: Tench Coxe, Blair duQuesnay, they're, Albert J, Campo, – Organizations: Nvidia, Securities and Exchange Commission, Ritholtz Wealth Management, CNBC's, Employees, Workers, CPA, Campo Financial Locations: New Orleans, Freehold , New Jersey

☆ Why a five-day return to office is unlikely, Stanford economist says
▼ + stars: | 2024-06-06 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

The five-day, in-office workweek is antiquated for a large share of workers, a relic of the pre-pandemic job market. "Remote work is not going away," said Nick Bloom, an economics professor at Stanford University who studies workplace management practices. Remote work is not going away. Nick Bloom economics professor at Stanford UniversityHis research suggests workers value hybrid work about the same as an 8% raise. 'Firms care about profits, not productivity'In addition, hybrid work doesn't appear to have any negative impact on workers' productivity, Bloom said.

Persons: Justin Paget, Digitalvision, Nick Bloom, workdays, lockdowns, Nick Bunker, Martin, Bloom, Bunker, it's, flexibly Organizations: Stanford University, Research, Finance, Employers, U.S, McKinsey, University of Pittsburgh

☆ The 'promised land' of stable, high-paying jobs for recent grads is falling apart
▼ + stars: | 2024-06-04 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +10 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Austin Wang, a class-of-2025 computer-science major at Yale University, said students were "scared that engineering roles will be replaced in the future." Handshake found that fewer prospective business graduates were applying to consulting roles and that more were seeking positions in customer relations, marketing, and analytics compared with last year. Handshake's analysis suggested tech job postings geared toward fresh graduates fell by 30% compared with last year. Advertisement"It's quite bad for entry-level jobs in general but even worse for international students," she said.

Persons: —, It's, Goldman Sachs, Morgan Stanley, Austin Wang, Fabrice Coffrini, Beth Hendler, Matthew Park, Anika Nair, Rutgers University . Austin Wang, Anika Nair Yale's Wang, Wang, Amr Alfiky, you'll, Adnan Hussain, Christine Cruzvergara, Richard Carruthers, I've Organizations: Service, Management, Big Tech, National Association of Colleges, Employers, Business, New York Times, Yale University, McKinsey & Company, Boston Consulting Group, Bain & Company, Accenture, McKinsey, Getty Images Industry, Yale, Tech, Companies, Ivy League, Rutgers University ., Rutgers University, JPMorgan —, Investment, Citigroup, JPMorgan, Deutsche Bank, Finance, Reuters, National University of Singapore, Imperial College London, KPMG, Deloitte, HSBC, Amazon Web Services Locations: Wall, AFP, Singapore

☆ YOLO is dying. That could be bad news for the economy
▼ + stars: | 2024-06-04 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

New York CNN —YOLO economy, meet the “yo, no” economy. In what was dubbed the YOLO economy (short for “you only live once”), or revenge spending, consumers shelled out for the experiences and goods they had missed. And that may be bad news for the economy. “We are monitoring the issue and engaging with market participants,” a spokesperson for the Securities and Exchange Commission told CNN. Joe Saluzzi, co-founder of Themis Trading, told CNN that the NYSE’s explanation is hard to square with the bizarre trades that hit the tape.

Persons: “ Covid, doesn’t, ” Sameer Samana, “, There’s, ”, that’s, Taylor Swift, It’s, Dow, Jerome Powell, Berkshire Hathaway, Warren Buffett, Joe Saluzzi, Themis Trading, I’m, Saluzzi, ” Read, Matt Egan, Keith Gill —, ” —, Read, Anna Cooban Organizations: CNN Business, Bell, New York CNN, Wells, Investment Institute, Walmart, Target, Employers, TSA, Federal Reserve, New York Stock Exchange, The New York Stock Exchange, ” Intercontinental Exchange, NYSE, ICE, CNN, NYSE Group, Consolidated, CTA, Berkshire Hathaway’s, Berkshire, Securities and Exchange Commission, Themis, GameStop, AMC Entertainment Locations: New York, YOLO, Samana, “, Berkshire

☆ The American shopping spree is losing steam
▼ + stars: | 2024-05-30 | by ( Bryan Mena | Nathaniel Meyersohn | ) edition.cnn.com time to read: +5 min

CNN —It’s becoming tougher and tougher for Americans to carry on with their spending spree. Years of elevated inflation and the highest interest rates in almost a quarter century are wearing out the US consumer. Savings accumulated during the Covid-19 pandemic are drying up, borrowers continue to rack up debt and delinquencies are marching higher. A second estimate of gross domestic product, released Thursday, showed that consumer spending was weaker in the first three months of the year than initially reported. Economists polled by FactSet are expecting data to be released Friday to show that consumer spending slowed notably in April from March.

Persons: CNN —, they’ll, ” Carol Schleif, FactSet, Thomas Kingsbury, TJ Maxx Organizations: CNN, Savings, BMO Family Office, Employers, Walmart, Dollar, Goods, Abercrombie, Fitch

☆ Here's why you may be saving more in your 401(k) — and not even know it
▼ + stars: | 2024-05-24 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

It automatically raises workers' savings rate each year, often by 1 percentage point at a time up to a cap. In an ideal world, workers would be saving at least 15% of their annual pay in a 401(k) plan, Lander said. Automated 401(k) savings is more widespreadAuto-escalation has become more widespread alongside automatic enrollment, which is when employers divert a portion of workers' paychecks into a 401(k) if they don't sign up voluntarily. Most, or 84%, of these 401(k) plans raise workers' savings rate by 1 percentage point a year. (This example doesn't account for additional financial factors like taxes or annual pay increases.)

Persons: Ellen Lander, Lander Organizations: Renaissance, of America, Finance, U.S, Labor Locations: Pearl River , New York

☆ I used a fake name on my résumé to land a job. It might have helped, but it felt like I lost a core part of myself.
▼ + stars: | 2024-05-23 | by ( Charissa Cheong | ) www.businessinsider.com time to read: +7 min

In 2007, I added an English-sounding name to my résumé in the hopes that it could help me land a job. AdvertisementToward the end of my college experience, I started preparing to get a job in petroleum engineering. AdvertisementOver time, I began to transition back to using Mukhtar. A Nigerian colleague who was like a mentor to me started using my real name. Since Arabic is widely spoken in the Middle East, I would introduce myself to new people as Mukhtar, not Mark.

Persons: —, Mukhtar Kadiri, Mukhtar, I've, Mark, Mukhtar —, I'd, Mark —, I'm Organizations: Service, Business, Texas Tech University, Employers Locations: Toronto, Edo State, Nigeria, Oman, UAE, US, Canada

☆ 7 tips for looking for a job in government contracting, according to recruiters
▼ + stars: | 2024-05-19 | by ( Ana Altchek | ) www.businessinsider.com time to read: +7 min

Business Insider talked to three recruiters in the field to learn the best practices for getting a job in the industry. Make sure your clearances are up to dateMany government contracting roles require clearances, which can vary depending on the role and may also expire over time. Reach out to recruiters directlySince many government contracting opportunities have specific requirements, it can make a big difference to speak with a recruiter directly to find out what you need to do for that specific job. The site allows users to browse through thousands of open roles, many of which have contact info for recruiters. Grussendorf recommends reaching out to recruiters, talent acquisition at staffing agencies, or direct employers and telling them the job and salary range you're looking for to stay on their "candidate hot list."

Persons: —, Matt Grussendorf, Grussendorf, Lauren Irizarry, you've, Irizarry, it's, Quadesha Bynum, Bynum Organizations: Service, Business, Judge, —, Recruiting, Group, D.C, Employers Locations: Seattle, Southern California , Alabama, Denver

☆ 7 tips to help you get a job in government contracting, according to recruiters
▼ + stars: | 2024-05-19 | by ( Ana Altchek | ) www.businessinsider.com time to read: +7 min

While lower pay in government jobs is sometimes viewed as a drawback of the sector, contracting companies tend to pay better than the federal government, and opportunities in this field are also increasing. Business Insider talked to three recruiters in the field to learn the best practices for getting a job in the industry. Make sure your clearances are up to dateMany government contracting roles require clearances, which can vary depending on the role and may also expire over time. Reach out to recruiters directlySince many government contracting opportunities have specific requirements, it can make a big difference to speak with a recruiter directly to find out what you need to do for that specific job. The site allows users to browse through thousands of open roles, many of which have contact info for recruiters.

☆ Recent college grads are doing shockingly well. Can it last?
▼ + stars: | 2024-05-14 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

And recent grads aren’t just finding any job, they’re finding good jobs. Not all is well: The EPI study found that racial and gender wage gaps still remain large among recent grads. GameStop shares tripped multiple circuit breakers — a temporary and mandated halt in trading to let investors cool off for a bit. Robinhood denied claims on social media on Monday that it had once again halted GameStop stock purchases on its platform. Robinhood has not shut down the purchase of Gamestop shares,” Robinhood spokesperson Anupriya Ghate said in a statement to CNN.

Persons: it’s, —, Katherine deCourcy, Elise Gould, “, Z, Z’ers, Krystal Hur, Keith Gill, Roaring Kitty, Gill, Robinhood, ”, Anupriya Ghate, ” Shein, Shein, CNN Shein Organizations: CNN Business, Bell, New York CNN, Economic Policy Institute, Stanford Institute for Economic Policy Research, Employers, GameStop, AMC, Partners, AMC Entertainment, Gamestop, CNN, Workers, Public, Public Eye Locations: New York, Black, Swiss, Guangzhou, China

☆ He left his desk job in the US to run a food stall in Hong Kong. He earns more now — but plans to walk away from it soon.
▼ + stars: | 2024-05-10 | by ( Faye Bradley | ) www.businessinsider.com time to read: +9 min

Toby To Yan Choi left his accounting job in California to help his father run a food stall in Hong Kong. Dai pai dongs — Hong Kong's open-air stalls serving food with a no-frills approach — are disappearing. The number of dai pai dongs in all of Hong Kong has dwindled to just over 20, according to the Hong Kong Tourism Board. The braised white pepper pork hock is one of the signature dishes at Dai Lee Dai Pai Dong. AdvertisementHe's gotten married since moving to Hong Kong and plans to move back to the US if he and his wife have kids.

Persons: Toby, Yan Choi, Dai pai dongs, —, Santa Barbara, Choi, Dai Lee Dai Pai Dong, pai, Hong Kong, He's, Hong Kong Dai pai dongs, Hong, sizzling woks, Agnes Chee Yan, Wei, pai dongs, Tiffany Leung, Faye Bradley, wasn't, Shawn Cai, Law Chun Chuen, Dai Lee Dai Pai, Yan Choi There's, they've, Tony Lee, Mok Wah Ho, Ales, Yan Choi He's, Betty Richardson, dongs, Chee, I'm Organizations: Service, University of California, Kong's, Hong Kong Tourism Board, China Morning Post, Young Locations: California, Hong Kong, Santa, Hong, Sham Shui, Sham, China, Shanghai

☆ U.S. Employers Added 175,000 Jobs in April
▼ + stars: | 2024-05-03 | by ( Lydia Depillis | ) www.nytimes.com time to read: 1 min

The American job market may be shifting into a lower gear this spring, a turn that economists have expected for months after a vigorous rebound from the pandemic shock. Employers added 175,000 positions in April, the Labor Department reported Friday, undershooting forecasts. The unemployment rate ticked up to 3.9 percent. “It’s not a bad economy; it’s still a healthy economy,” said Perc Pineda, chief economist at the Plastics Industry Association. We cannot continue robust growth indefinitely considering the limits of our economy.”

Persons: It’s, ”, Perc Pineda, “ Organizations: Labor Department, Plastics Industry Association

☆ The Job Market Shifted Into Lower Gear
▼ + stars: | 2024-05-03 | by ( Matthew Cullen | ) www.nytimes.com time to read: +1 min

After a winter of rapid growth in the American labor market, April’s jobs numbers delivered a more mixed picture. Employers added 175,000 positions, less than economists had expected and well below the average over the last year; and the unemployment rate climbed to 3.9 percent. “But really, the slowdown shouldn’t be a big surprise, and isn’t particularly worrisome.”Layoffs remained low and most job sectors appeared stable. Wage growth eased notably, though the unemployment rate remained under 4 percent for the 27th consecutive month — the longest stretch in more than 50 years. In fact, some economists said that the April data offered hopeful hints that the economy was headed toward a more stable footing.

Persons: We’ve, Ben Casselman, “, ” Ben Organizations: Federal Reserve

☆ Federal labor board has been much more pro-worker under Biden. Employers want courts to end that
▼ + stars: | 2024-04-23 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

The companies are asking federal courts, often with conservative, pro-business judges, to stop the agency from standing behind the more activist unions now making their lives more difficult. “The NLRB has long used the federal courts … to obtain injunctions … before the merits of an unfair labor practice case are fully evaluated,” said a statement from Starbucks. The employer doesn’t have to pay any interest, penalty or fine, to the fired workers, their union or the agency. While this is the first such case to reach the Supreme Court, other cases are emerging in which some high profile employers are challenging the agency’s right to exist. The Supreme Court’s decision is expected by the end of June.

Persons: Biden, …, ”, “, Jennifer Abruzzo, Cathy Creighton, Clinton, Elon Musk’s, Joe’s, Cornell’s Creighton, she’s, “ They’re, “ I’m Organizations: New, New York CNN, Starbucks, National Labor Relations Board, NLRB, Memphis, Cornell University’s, Industrial and Labor Relations, SpaceX, nonunion Locations: New York, Memphis, Buffalo , New York

☆ What stalled this year’s seemingly infallible stock market rally
▼ + stars: | 2024-04-19 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

Investors had hoped that corporate earnings would help revive the stalled rally, but a strong start to the season hasn’t been enough to excite investors. The 30-year fixed-rate mortgage averaged 7.10% in the week ending April 18, up from 6.88% the previous week, according to Freddie Mac data released Thursday. Mortgage rates are climbing based on expectations that the Federal Reserve won’t cut interest rates anytime soon. The Fed doesn’t directly set mortgage rates, but its actions do influence them, and persistently hot inflation readings are keeping the Fed on hold. If inflation stalls any further, or even worsens, mortgage rates could climb higher this year.

Persons: —, hasn’t, Jerome Powell, “, ”, Michael Landsberg, Pierre, Olivier Gourinchas, Israel, Brent, Bryan Mena, Freddie Mac, Sam Khater, Freddie Mac’s, Read, Anna Cooban, Tim Cook, Pham Minh Chinh, Cook, Apple “ Organizations: CNN Business, Bell, New York CNN, Dow Jones, Nasdaq, Federal Reserve, Data, Employers, Fed, Landsberg Bennett, Wealth Management, Monetary Fund, Treasury, Investors, CNN, Federal, China Apple, Vietnamese, Apple Locations: New York, East, Iran, Israel, Syria, Vietnam, China, Hanoi, Beijing

☆ What's so great about Australia's retirement plan — and what it means for America
▼ + stars: | 2024-04-16 | by ( Allie Kelly | ) www.businessinsider.com time to read: +8 min

Australia's superannuation system mandates employer-funded retirement contributions. Meanwhile, the US retirement system has become anxiety-inducing for many, as older adults struggle to make ends meet. AdvertisementAustralian retirement system puts saving responsibility on employers, not employeesAmerica's current retirement infrastructure includes two major categories: defined contribution plans and Social Security. This differs from the American system, where retirees' money is often held between a 401(k), other accounts, and outside investments. Still, Reilly cautioned that applying Australia's retirement system to the US could negatively affect employee wages.

Persons: —, Sen, Bernie Sanders, Catherine Reilly, Reilly, Larry Fink, Fink Organizations: Service, Challenger Limited, Money, TIAA Institute, Georgetown University's Center for Retirement, Social Security, BlackRock, Employers, Pew Charitable Trust Locations: Australia, America, California, Colorado

☆ Pregnant Workers Fairness Act: Employers now have to give workers time off for an abortion or pregnancy care
▼ + stars: | 2024-04-16 | by ( Tami Luhby | ) edition.cnn.com time to read: +3 min

CNN —Most employers must offer “reasonable accommodations” to workers related to pregnancy or childbirth, including providing time off for an abortion, according to a final rule issued Monday by the Equal Employment Opportunity Commission. The rule clarifies the provisions of the Pregnant Workers Fairness Act, which became law last June after Congress passed it as part of a federal government spending package in late 2022. The measures apply to employers with at least 15 workers unless the accommodations would cause “undue hardship” for the employer. It also provides many examples of accommodations and encourages employers and workers to communicate early and frequently about the requests. “The Pregnant Workers Fairness Act is a life-changing protection for pregnant and postpartum workers nationwide, ensuring they aren’t forced off the job or denied the accommodations they need for their health.”

Persons: ” Dina Bakst, “, ” Organizations: CNN, Commission, US, of Commerce

☆ My daughter is a high school athlete. I spent a lot of time and money on her sports even though she has no future in athletics.
▼ + stars: | 2024-04-14 | by ( Shannon Serpette | ) www.businessinsider.com time to read: +5 min

My daughter is on the softball, volleyball, and cross country teams at her small high school. I can't even begin to count how many hours and how much money we've invested in her school sports. Now that she is in high school, she is a member of the volleyball, softball, and cross-country teams. Some parents I know have insinuated that high school sports aren't worth the time, but I've found some rewarding benefits. For that reason alone, I believe the time and money we've spent is well worth it.

Persons: we've, —, I've, isn't, she's, She'll, We've, She's, chatted, It's Organizations: Service, Sports

☆ Millionaire founder: This is the No. 1 skill young people need to thrive in the AI era—it's not coding
▼ + stars: | 2024-04-08 | by ( Megan Sauer | ) www.cnbc.com time to read: +2 min

There is one skill all young people need to thrive in the workplace — today and in the future — and it's been around for thousands of years. The type of storytelling may not matter, because the platforms people use to communicate can rapidly change. IT business consultancy Gartner reportedly bought L2 Inc. for more than $130 million in 2017, according to regulatory filings. The importance of storytelling is particularly why young people shouldn't rely solely on generative artificial intelligence tools like ChatGPT — not now, not ever, said Galloway. Management experts agree — understanding AI is important, but it isn't the sole skill needed to succeed at work.

Persons: it's, Scott Galloway, Galloway, Oliver Wyman Organizations: CNBC, SXSW, New York University Stern School of Business, L2 Inc, Gartner, ChatGPT, Management Locations: Galloway

☆ U.S. Employers Added 303,000 Jobs in 39th Straight Month of Growth
▼ + stars: | 2024-04-05 | by ( Talmon Joseph Smith | ) www.nytimes.com time to read: 1 min

Another month, another burst of better-than-expected job gains. Employers added 303,000 jobs in March on a seasonally adjusted basis, the Labor Department reported on Friday, and the unemployment rate fell to 3.8 percent, from 3.9 percent in February. Expectations of a recession among experts, once widespread, are now increasingly rare. It was the 39th straight month of job growth. And employment levels are now more than three million greater than forecast by the nonpartisan Congressional Budget Office just before the pandemic shock.

Organizations: Labor Department Locations: U.S

☆ The No. 1 personality trait employers always look for, from a workplace psychologist with 10+ years experience: It's 'universally valuable'
▼ + stars: | 2024-04-04 | by ( Dr. Benjamin Granger | ) www.cnbc.com time to read: +3 min

As a workplace psychologist with over a decade of experience, I specialize in helping organizations create great experiences for their employees and job candidates. Conscientiousness is the top trait that employers always look for in new hires. The personality trait employers prize the most: ConscientiousnessYou may be familiar with the five factor model, also known as the set of Big Five personality traits. How you can demonstrate conscientiousnessDuring the hiring process, there are a few simple ways you can show potential employers that you possess this key trait. Many pre-hire personality assessments are rooted in the Big Five, and employers use them to better understand candidates' knowledge, skills, abilities and characteristics.

Organizations: Cooperative, Big, Employers

☆ Here are some big money blind spots you need to avoid, advisors say
▼ + stars: | 2024-04-04 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Here are some of the biggest financial blind spots, according to several certified financial planners on CNBC's Digital Financial Advisor Council. 1. Credit scoresConsumers often don't understand the importance of their credit score, said Kamila Elliott, CFP, co-founder and CEO of Collective Wealth Partners based in Atlanta. The average person with a credit score between 760 and 850 would get a 6.5% interest rate, according to national FICO data as of April 1. The latter's monthly payment would cost $324 more relative to the person with a better credit score — amounting to an extra $116,000 over the life of the loan, according to FICO's loan calculator. "Ten out of 10 people couldn't explain how the tax withholding system works," said Ted Jenkin, CFP, CEO and founder of oXYGen Financial based in Atlanta.

Persons: Kamila Elliott, Wills, Barry Glassman, I'm, Glassman, Elliott, That's, Ted Jenkin, Uncle Sam, Jenkin Organizations: Getty, Digital Financial, CFP, Wealth Partners, Consumer Financial, Bureau, Wealth Services, Westend61, Collective Wealth Partners, Business, Employers, Workers Locations: Atlanta

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