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Average 30-year fixed mortgage rates have dropped below 6% for the first time since late September. See more mortgage rates on Zillow Real Estate on ZillowMortgage calculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 30-year fixed mortgage ratesThe current average 30-year fixed mortgage rate is 6.49%, according to Freddie Mac. 15-year fixed mortgage ratesThe average 15-year fixed mortgage rate is 5.76%, a decrease from the prior week, according to Freddie Mac data. Mortgage rates started ticking up from historic lows in the second half of 2021 and have increased significantly so far in 2022.

☆ November unemployment fell for Hispanic workers and Black women, while holding steady overall
▼ + stars: | 2022-12-02 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Joe Raedle | Getty ImagesThe unemployment rate in the U.S. declined for Hispanic workers and Black women in November, while the overall rate held steady. Hispanic workers saw unemployment dip to 3.9% last month, down from 4.2% in October, according to the Labor Department on Friday. It fell more for Black women to 5.2%, from 5.8%. Notable jobs gains last month in the leisure and hospitality sector drove the decline in the unemployment rate among Hispanic workers, Holder said. Meanwhile, strong job gains in health care and government spurred the decline in the unemployment rate among Black women.

☆ Millions suffer from long Covid — and it costs them $9,000 a year in health-care expenses, on average
▼ + stars: | 2022-12-01 | by ( Greg Iacurci | ) www.cnbc.com time to read: +11 min

There is no cure or approved treatment for ME/CFS; as with long Covid, patient symptoms are merely treated or managed. 'People are trying all sorts of treatments'Getting an official long Covid diagnosis can be challenging, which can compound early expenses. Like many who suffer from long Covid, Pohl seeks relief from crippling symptoms wherever it's available. "There are so many of us now that it's taking months to see professionals," she said of long Covid patients. watch nowTime alone generally doesn't cure long Covid symptoms; it often requires some form of rehabilitation.

☆ Treasury's Adeyemo says underlying health of U.S. economy 'quite strong'
▼ + stars: | 2022-12-01 | by ( Dan Burns | ) www.reuters.com time to read: +2 min

NEW YORK, Dec 1 (Reuters) - The underlying health of the U.S. economy is quite strong and massive investments being made in manufacturing and infrastructure will help bring inflation down over the longer term, Deputy Treasury Secretary Wally Adeyemo said on Thursday. Legislation like the bipartisan infrastructure law, the Inflation Control Act and a law to promote domestic semiconductor production would make long-needed investments in the economy that would help bring inflation under control, he said. U.S. Treasury Department Deputy Secretary Wally Adeyemo attends the Reuters NEXT Newsmaker event in New York City, New York, U.S., December 1, 2022. Adeyemo said the U.S. economy was better-placed than any other economy to do well despite the rising cost of capital, and labor force participation was starting to increase, albeit not at the desired rate. Reporting by Daniel Burns; Writing by Andrea Shalal; Editing by Andrea RicciOur Standards: The Thomson Reuters Trust Principles.

☆ Premarket stocks: Powell revives hopes of a Fed pivot. That's a bad thing
▼ + stars: | 2022-12-01 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN Business —Federal Reserve Chair Jerome Powell made investors very happy on Wednesday. Powell’s admission that “the path ahead for inflation remains highly uncertain” means that rate hikes could be here for a while. This isn’t the first time investors rushed into markets on the belief that there would be a Fed pivot. Powell said on Wednesday that there is still a chance the economy avoids recession but the odds are slim. But the labor market still remains historically tight despite the Federal Reserve’s efforts to cool demand and bring down inflation.

☆ Why labor economists say the remote work 'revolution' is here to stay
▼ + stars: | 2022-12-01 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

ZipRecruiter, another job site, found a fourfold increase in job listings mentioning remote work, to a 12% total share. In all, remote work translates to roughly 4% more hours worked during a 40-hour week. "People really, really want remote work," Pollak said, adding: "It's difficult to put the genie back in the bottle." 'Significant variation' in remote work opportunitiesThat said, most jobs in the U.S. economy can't be done remotely. People really, really want remote work.

☆ Why long Covid could cost the U.S. nearly $4 trillion
▼ + stars: | 2022-11-30 | by ( Emily Lorsch | Erin Black | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy long Covid could cost the U.S. nearly $4 trillionLong Covid is not just changing the lives of those affected, but proving to have a significant impact on the U.S. labor force and economy. About 25% of the roughly 16.3 million working-age Americans suffering from long Covid are out of work, and according to one estimate, long Covid could cost the U.S. as much as $3.7 trillion. In 2021, Congress allocated $1.15 billion to the National Institutes of Health to study the effects of the disease but many experts are saying that is not nearly enough.

☆ Job openings fall in October amid Fed efforts to cool labor market
▼ + stars: | 2022-11-30 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Job openings dipped in October amid the Federal Reserve's efforts to cool off a red-hot employment market, the Labor Department reported Wednesday. The Job Openings and Labor Turnover Survey, a closely watched gauge of slack in the labor force, showed there were 10.3 million vacancies for the month. That left 1.7 job openings per available worker for the month, down from a 2 to 1 ratio just a few months ago. The report came the same day that payroll processing firm ADP reported job gains of just 127,000 in November, the lowest total since January. Economists expect job growth of 200,00 for the month, according to Dow Jones estimates.

☆ This non-profit has raised over $10 million to support Indigenous women entrepreneurs: 'It's up to us to close the racial wealth gap'
▼ + stars: | 2022-11-30 | by ( Morgan Smith | ) www.cnbc.com time to read: +5 min

Here's how one non-profit, Native Women Lead, is enabling Indigenous women's economic mobility:'It's up to use to close the racial wealth gap'Native Women Lead was founded in 2017 by eight Native American women entrepreneurs: Jaime Gloshay, Kalika Davis, Lisa Foreman, Kim Gleason, Vanessa Roanhorse, Alicia Ortega, Stephine Poston and Jaclyn Roessel. That conversation inspired the creation of Native Women Lead, an Albuquerque-based non-profit that aims to help Indigenous women entrepreneurs across the world access the capital, mentors, financial education and support needed to thrive in their careers and narrow the wealth gap. To date, Native Women Lead has provided about $500,000 to 65 Indigenous women entrepreneurs through the two funds, partnering with credit unions and investing firms such as Nusenda Credit Union and ImpactAssets to connect entrepreneurs with capital. While closing the wealth gap might start with funding opportunities, Native Women Lead views wealth as "more than just revenue or profits," Stephine Poston, one of the group's co-founders, says. Keeping this in mind, Native Women Lead offers wellness-focused retreats for Indigenous women as well as fireside chats on self-care practices, healing from trauma and other mental health topics.

☆ Logistics Companies Are Diversifying Hiring, but Challenges Persist
▼ + stars: | 2022-11-28 | by ( Liz Young | ) www.wsj.com time to read: +8 min

Photo: Sarah Oden/Associated PressWomen and people of color are being hired into top roles in the logistics industry. United Parcel Service Inc. turned to Carol Tomé, a former finance chief at Home Depot Inc., in 2020 to become chief executive officer. Raj Subramaniam, who is from India, was chosen to succeed FedEx Corp. founder Fred Smith as chief executive earlier this year. Judy McReynolds has been chief executive of ArcBest Corp. , one of the largest trucking companies in the U.S., since 2010. Studies also show there is a big gap in pay across the logistics industry.

☆ 6 US presidents who worked retail
▼ + stars: | 2022-11-26 | by ( Áine Cain | ) www.businessinsider.com time to read: +1 min

Before they made it to the White House, plenty of US presidents worked odd jobs. A handful have even worked retail gigs. From Abraham Lincoln to Barack Obama, these presidents each worked retail in some capacity. And plenty of United States presidents worked at rather unusual occupations before they rose to the White House. According to the 2020 census, 9.8 million people worked retail in 2018, accounting for 6.3% of the total labor force.

☆ Is Gen Z working? It all depends on what you consider a 'job.'
▼ + stars: | 2022-11-24 | by ( Jacob Zinkula | Madison Hoff | ) www.businessinsider.com time to read: +7 min

It's taken time for Americans of all ages to return to work, but older Gen Zers are most lagging. It may all have to do with how Gen Z views a job versus a side hustle or gig work. And those answers could partially explain a question economists are puzzled over: Where have the Gen Z workers gone? While he's uncertain where the missing Gen Z workers have gone, he says childcare needs could be part of the answer. If Gen Z has embraced gig work over the corporate life, it could be among the reasons many of them say they're living paycheck to paycheck.

The number of working Americans aged 80 or over — such President Joe Biden — has risen from 1980. As seen in the above chart, 5.16% of Americans aged 80 and over had a job in 2022 as of October. Although the share of Americans age 80 and over with a job has tumbled some from it's high in 2018 per Insider's analysis, there are still plenty of older workers working past typical retirement age. And that's evidenced by poverty rates among older Americans standing higher than a decade ago as of 2021. However, not all older Americans want to keep working as they get older and will exit the labor force.

☆ Indeed and Glassdoor Report: Labor Shortages Will Be Around for Years
▼ + stars: | 2022-11-17 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +6 min

A new Indeed and Glassdoor report looks at long-term trends for the labor market. A new Indeed and Glassdoor report looked at long-term labor market trends. One key trend: Labor supply will remain tight, especially as the number of people who are considered working age continues to dwindle. Obviously, that takes a little while to spill over into the labor force, as the country still deals with its own labor squeeze. And, in Germany, the labor market situation is still a problem, but hasn't been as challenging over the last few years.

☆ Bosses are 'done with the COVID excuse' and it means calling out sick is getting harder
▼ + stars: | 2022-11-15 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +3 min

This year, about 630,000 more Americans per month are calling out sick for a week or more than pre-pandemic. Even though an elevated number of workers are still getting sick, employers are losing their patience. One union told Insider that the disparity highlights the need for guaranteed sick leave. "UFCW fights hard to ensure guaranteed sick leave is included in our contracts so employers can't simply cut back on leave because they're 'tired of excuses.'" When it comes to low-wage employees, over 60% don't have access to sick leave, according to a September study from the Economic Policy Institute.

☆ NYU's Arun Sundararajan on building effective teams and the future or work
▼ + stars: | 2022-11-15 | 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 EmailNYU's Arun Sundararajan on building effective teams and the future or workArun Sundararajan, NYU Professor of Entrepreneurship, joins 'TechCheck' to talk building an effective and diverse labor force, the labor market pressures on tech companies, and the diversity objectives held by tech executives.

☆ Labor Market Mystery: Where Are the Older Gen Z Workers?
▼ + stars: | 2022-11-14 | by ( Bryan Mena | ) www.wsj.com time to read: 1 min

The exodus from the labor force in the pandemic’s early months has mostly reversed, but one group remains oddly absent: people in their early 20s. For people over age 15, the labor-force participation rate—the share of people employed or actively seeking a job—dropped from an average of 63.1% in 2019 to 61.7% in 2021, and recovered to 62.2% in October. But for people ages 20 to 24, participation that averaged 72.1% in 2019 stood at just 70.8% in October.

☆ Gen Z workers are underrepresented in the federal government: report
▼ + stars: | 2022-11-14 | by ( Hanna Kang | ) www.businessinsider.com time to read: +4 min

Gen Z employees are underrepresented in the federal government, according to a new report. The nonprofit Partnership for Public Service analyzed federal retention trends centering on Gen X and Gen Z. The average turnover rate for Gen Z in the federal government — more than 12% — was also significantly higher than the federal government-wide rate at around 6%. Congress will, however, soon have its first Gen Z member in Maxwell Frost, a 25-year-old Democrat who won Florida'sFinancial stability was a chief concern among Gen Z workers, who on average had more than $18,000 in student debt in 2021. With the COVID-19 pandemic still present, workplace flexibility and easy-to-use digital technologies were also among the priorities of Gen X and Gen Z federal employees, according to the report.

☆ Mass tech layoffs might look scary, but here's why your job is probably safe — even if a recession strikes
▼ + stars: | 2022-11-13 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +5 min

Tech experts told Insider that's unlikely to happen, given how tight the labor market remains. But a recession will cause unemployment to rise, and it might take longer to find a new job. Industry experts told Insider that most employers simply can't afford to lay off large swathes of workers if they want to make it out the other side. Daniel Zhao, the chief economist at Glassdoor, told Insider that the recent tech layoffs alone weren't enough to move the unemployment figure yet, but were still a signal of sorts. Nick South, a managing director at Boston Consulting Group, told Insider this means employers are still struggling to find enough high-caliber talent.

☆ AOC says 'it's so out of touch to imply that abortion isn't an economic issue' after reproductive rights were at the top of voters' minds in the midterms
▼ + stars: | 2022-11-10 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Reproductive rights got big wins in the midterms as voters chose to protect abortion access in five states. As the GOP sought to block abortions, AOC said it's "out of touch" to consider the issue separate from the economy. She referred to the lack of guaranteed healthcare and childcare that often comes alongside stripping abortion rights. At the midterm elections, abortion was a key concern for voters after the bombshell Supreme Court decision overturning Roe v. Wade this summer. Even in Republican and swing states, it was clear protecting the right to an abortion was a major concern for voters.

☆ Covid’s Drag on the Workforce Proves Persistent. ‘It Sets Us Back.’
▼ + stars: | 2022-11-07 | by ( Gwynn Guilford | Lauren Weber | ) www.wsj.com time to read: 1 min

Two-and-a-half years after Covid-19 emerged, reported infections are way down, pandemic restrictions are practically gone and life in many respects is approaching normal. The labor force, however, is not. Researchers say the virus is having a persistent effect, keeping millions out of work and reducing the productivity and hours of millions more, disrupting business operations and raising costs.

☆ Microsoft's president responds to big tech layoffs
▼ + stars: | 2022-11-07 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMicrosoft's president responds to big tech layoffsMicrosoft President Brad Smith joins 'Squawk on the Street' to discuss investment in ESG strategies, tech companies cutting labor forces, and Microsoft's investment in fundamental technology drivers for the future.

☆ Class of 2023 rejoice: Companies are ramping up hiring of new college grads as experienced workers are harder to find amid the labor shortage
▼ + stars: | 2022-11-06 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +9 min

The labor market is still tight, but employers are ready to hire from the pool of new college graduates. NACE found that respondents plan to hire 14.7% more 2023 graduates compared to the class of 2022. That's good news for workers, especially recent college graduates. "For instance, in many cases it costs less to hire a recent college graduate compared to a mid-career or senior-level professional." But it noted "only 6% expect to cut back on hiring new college graduates."

☆ Welcome to the new labor market, where everyone still quits all the time and some people will just never come back to work
▼ + stars: | 2022-11-06 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +5 min

The US labor market includes millions of Americans quitting in near-record numbers month after month. Cyclical and structural changes are affecting labor force participation, according to one expert. At the same time, the labor market is still bustling, even as it starts to slowly cool. The US labor force participation rate plunged during the pandemic to 60.2% in April 2020. Some people are just staying on the sidelines, and not heading back to the labor force — adding to the labor shortage and the tight labor market businesses are dealing with.

The latest data on jobs from the Bureau of Labor Statistics shows a still-robust labor market in the US. With inflation continuing to soar in the US, the Federal Reserve has moved aggressively to combat high prices by hiking interest rates. But on Friday, new data from the Bureau of Labor Statistics showed that the labor market continues to be strong. As Insider previously reported,the Fed's high interest rates would cause companies to slow their hiring plans, and therefore lead to smaller pay gains for workers. Looking ahead, all eyes are on the Fed's December meeting when it will announce its next round of interest rate hikes.

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