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☆ High earners, young people and women are working fewer hours after the pandemic, says new research—here's why
▼ + stars: | 2024-03-01 | by ( Morgan Smith | ) www.cnbc.com time to read: +4 min

But the people driving the post-pandemic decline in hours worked fall into four categories: women, young adults, highly paid workers and employees at small businesses. Richardson points out that high earners can maintain their annual income while working fewer hours, thanks to big post-pandemic pay increases. Women are working more part-time jobs than menA record number of Americans — 22 million — are working part-time, Labor Department figures show. In 2019, women worked 4.4 hours less per week than men, who worked 40 hours. The industries that saw bigger declines in hours worked — health care, leisure and hospitality — are dominated by women.

Persons: Nela Richardson, Richardson, they're, Gen Zers, there's, Zers Organizations: ADP Research, U.S, ADP, Workers, Labor Department, National Women's Law, Deloitte Locations: U.S

New York City Transit workers, responding to an overnight slashing attack that injured a train conductor, stopped work to file safety complaints on Thursday morning, causing severe disruptions in subway service. During the morning rush hours, workers staged the job action at the 207th Street station on the A line and the 168th Street station on the A and C lines in Manhattan. The workers declined to fulfill their assigned jobs, leading to the disruptions, according to two transit officials with knowledge of the situation. At a news conference Thursday afternoon, union leaders said that transit workers and union representatives had submitted safety forms following the attack in the morning — a procedure allowed by their contract — and that trains had experienced delays as a result. A major concern was the lack of police presence in the subway station following the Brooklyn attack, they said.

Organizations: York City Transit, 207th, 168th, Metropolitan Transportation Authority Locations: York, Brooklyn, Manhattan

☆ Starbucks to hike wages for union workers as it thaws relationship with Workers United
▼ + stars: | 2024-02-27 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

A Starbucks logo is seen as members and supporters of Starbucks Workers United protest outside of a Starbucks store in Dupont Circle, Washington, D.C., on Nov. 16, 2023. The wage increases are a sign of good faith from Starbucks toward Workers United, an affiliate of the Service Employees International Union that has organized more than 300 company-owned Starbucks locations. Starbucks and Workers United said they have agreed to start discussions "on a foundational framework" on how to reach collective bargaining agreements for stores. The announcement marks the most noticeable thawing in the two parties' relationship since the first Starbucks location unionized in December 2021. Starbucks also said Tuesday that it would provide unionized cafes with credit card tipping, a benefit that has been available in nonunion stores for more than a year.

Persons: Howard Schultz, Laxman Narasimhan Organizations: Starbucks Workers, D.C, Workers United, Service Employees International Union, Workers, Starbucks, CNBC PRO Locations: Dupont Circle, Washington

☆ Bosses are back in power — so get used to companies quiet cutting and quiet firing workers this year
▼ + stars: | 2024-02-25 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +5 min

Workers who choose to be fully remote will face limited career progression, an anonymous source told The Register. AdvertisementThese tactics are more commonly known as "quiet firing" or "quiet cutting ," — a workplace trend that has taken off after the end of the zero interest rate era. It's a subtle move by bosses to make a role less appealing, motivating workers to quit rather than forcing them out through layoffs. A lot of companies sell the rhetoric of "we are family" to employees, and public layoffs cut against that perception, Hardy said. AdvertisementUltimately, quiet firing and quiet cutting help employers maintain greater control over the narrative and how they're perceived publicly, Schawbel added.

Persons: they're, Meta, Ben Hardy, Hardy, it'll, Dan Schawbel, Schawbel, they've, it's Organizations: Google, Business, Technology, Dell, Workers, Amazon, London Business School, Workplace Intelligence

☆ Ford, UAW reach local labor deal to avert strike at Kentucky plant
▼ + stars: | 2024-02-21 | by ( Ryan Anastasio | ) www.cnbc.com time to read: +1 min

Ford Super Duty trucks are seen at the Kentucky Truck assembly plant in Louisville, Kentucky, U.S., April 27, 2023. Ford and a United Auto Workers local union reached a tentative deal on Wednesday to avert a strike at the automaker's most profitable plant. The UAW had threatened that nearly 9,000 workers at Ford's Kentucky truck plant would strike on Friday if local union demands were not resolved. The UAW said Tuesday the deal addresses local issues related to skilled trades, ergonomics and health and safety. Workers at the plant produce Ford Super Duty pickups as well as Ford Expeditions and Lincoln Navigator SUVs.

Persons: Ford, —, — CNBC's Michael Wayland Organizations: Ford Super Duty, United Auto Workers, UAW, Workers, Ford, Ford Expeditions, Lincoln, Big Three, — Ford, General Motors, Local Locations: Kentucky, Louisville , Kentucky, U.S, Ford's Kentucky, Louisville

☆ Job posts for workers without degrees are booming. The actual hiring doesn't always follow
▼ + stars: | 2024-02-19 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +10 min

But as data emerges on degreeless hiring, there are signs that some of these efforts may be falling short. It's based on limited data and doesn't consider alternative pathways that people without degrees use to join organizations, such as through apprenticeships and internships. But it's still a snapshot look at how some of the top employers in the U.S. are doing in their efforts to hire more workers based on skills versus degree attainment. Rather, it implies managers may be reticent to hire people without degrees, absent specific policies to assess these workers' skills. Companies that have been successful with skill-based hiring also articulate clearly the skills they require for a job, even before posting it.

Persons: it's, Matt Sigelman, What's, Sigelman, Schultz, Joseph Fuller, Fuller, Tyson, Lockheed Martin, Kroger, Stellantis, Backsliders, Meijer, Delta Organizations: Burning Glass Institute, Harvard Business School, Glass Institute, Workers, American, Foundation, Walmart, Apple, GM, Koch Industries, General Motors, Target, Tyson Foods, ExxonMobil, Yelp, Bank of America, Oracle, Companies, Lockheed, Stellantis, CNBC, Amazon, Nike, Delta, Uber, HSBC, Novartis, Delta Air Lines, US Foods Locations: U.S, Meijer

BANGKOK (AP) — Shares advanced in Asia on Friday, with Tokyo's benchmark Nikkei 225 index trading near a record high, 35 years after it peaked and then plunged with the collapse of Japan's financial bubble. U.S. futures were lower after stocks on Wall Street set a fresh record following some mixed reports on the economy. It has been hovering just below the record high of 38,915.87 that it set on Dec. 29, 1989, right before a plunge in share and property prices ushered in an era of slower, faltering growth. Taiwan's Taiex edged 0.2% lower a day after breaching a record high of 18,644.57 as major market mover TSMC, the world's biggest computer chip maker, surged nearly 8%. On Thursday, the S&P 500 rose 0.6% to 5,029.73, squeaking past its all-time high set last week.

Persons: Australia's, Shack, Wells Organizations: —, Nikkei, Nvidia, Dow Jones Industrial, Nasdaq, U.S, Treasury, Federal Reserve, Fed, CBRE, New York Mercantile Exchange, Brent Locations: BANGKOK, Asia, Hong, Seoul, India, Wall

The number of U.S. workers on strike more than doubled last year. But about half of 2023's total striking workers were on the picket line for more than a month, Thursday's report notes. And the amount of strikes and lockouts with a first contract demand more than doubled compared to 2022, the Labor Action Tracker found. According to Thursday's report, accommodation and food services saw more work stoppages than any other industry last year, accounting for 33.4% of the total strikes and lockouts. But the information industry had the highest number of striking workers and strike days — making up for 34.5% of all workers on strike and 83.8% of strike days.

Persons: Johnnie Kallas, “, ” Kallas, Alexander Colvin Organizations: — Auto, Labor, Cornell University, University of Illinois, Cornell University’s School of Industrial and Labor Relations, U.S . Bureau of Labor Statistics

NEW YORK (AP) — As some of the world’s biggest economies stumble into recession, the United States keeps chugging along. Yet in the United States, the economy motored ahead in last year’s fourth quarter for a sixth straight quarter of growth. But, for now, the outlook continues to appear better for the United States than many other big economies. Even China, whose economy is growing faster than the United States’, is under heavy pressure. Some pillars of support for consumer spending may be weakening.

Persons: Solita Marcelli, Biden, ”, Diane Swonk, They've, Catherine Mann, Morgan Stanley, Chris Kempczinski, he’s, ” ___ Rugaber Organizations: U.S, UBS Global Wealth Management, International Monetary Fund, KPMG, “, Federal, British, Bank of England, Bank of, Japan, Federal Reserve Locations: United States, Japan, United Kingdom, U.S, Government, Americas, Washington, Europe, Ukraine, China

☆ Google's new AI-powered wingman highlights the challenges of using a tool that could eventually replace you
▼ + stars: | 2024-02-15 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today’s big story, we’re looking at Google’s new internal AI model aimed at improving worker efficiency. The big storyAI assistanceCBS Photo Archive/Getty ImagesGoogle employees are getting an AI-powered wingman in the company’s bid to improve efficiency. Goose can answer questions about Google's tech and write and edit code, according to an internal summary of the model. Tech companies have tested inventions on their own employees for years in a process known as "dogfooding," writes BI's Alistair Barr.

Persons: —, Denny's, customizations, Hugh Langley, Tom Cruise’s copilot, Alistair Barr, Tyler Lee, “, Bryan R, Smith, Wall, Gary Gensler, We’re, Société, Elad Gil, Gil, ChatGPT, it’s, Uber, Nomura, Young homebuyers, Meredith Whitney, Donald Trump, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Business, Service, CBS, Getty, Microsoft, OpenAI, Tech, Google, Big Tech, Fed, UBS, SEC, Silicon Valley’s, BI, Xbox, Dragon, Workers, Wall Locations: China, New York, London

☆ The A.I. Economy Will Make Jobs More Human - The New York Times
▼ + stars: | 2024-02-14 | by ( Aneesh Raman | Maria Flynn | ) www.nytimes.com time to read: +2 min

There have been just a handful of moments over the centuries when we have experienced a huge shift in the skills our economy values most. Technical and data skills that have been highly sought after for decades appear to be among the most exposed to advances in artificial intelligence. But other skills, particularly the people skills that we have long undervalued as “soft,” will very likely remain the most durable. In today’s knowledge economy, many students are focused on gaining technical skills because those skills are seen as the most competitive when it comes to getting a good job. For decades, we have viewed those jobs as “future-proof” given the growth of technology companies and the fact that engineering majors land the highest-paying jobs.

Organizations: Workers

☆ Gen Z Is the Most Unsatisfied With Work; for Them, a Job Is Just a Job
▼ + stars: | 2024-02-13 | by ( Eve Upton-Clark | ) www.businessinsider.com time to read: +11 min

And it could explain why Gen Z workers are so much more unsatisfied with their jobs than their older colleagues. Age plays a role in explaining the gap, but Gen Z is also entering the workforce at a unique time. In EY's 2023 Gen Z survey, more than 50% of Gen Zers said they were "extremely worried about not having enough money." For much of Gen Z, a job is just a job. In a Deloitte study from March, only 61% of Gen Z participants said their work was important to their identity.

Persons: Kimi Kaneshina isn't, Wyatt Co, Xers, Zers, millennials, Gen Zers, Aki Ito, That's, Kaneshina, Julia Kensbock, Kensbock, haven't, Kensbrock, —, Gen Z, Corey Seemiller, Seemiller, Felizitas, Z Organizations: Pew Research, Research, Business, University of Bremen, Bain, Co, Workers, Employers, Labs, CFA, LaSalle Network, Wright State University, YouTube, LinkedIn, Deloitte Locations: Southern California, Germany, TikTok, Felizitas Lichtenberg

☆ Movers are betting big on the Las Vegas real-estate market
▼ + stars: | 2024-02-11 | by ( Matt Turner | Jordan Parker Erb | ) www.businessinsider.com time to read: +4 min

On the agenda today:But first: Las Vegas, home of Super Bowl LVIII, is a popular destination for movers. Las Vegas, Nevada. AdvertisementAnd while many have jetted in for the big game, from regular fans to the billionaire types, others are making a more permanent move to Las Vegas. Las Vegas ranked second for middle-class movers from out of state, according to a recent report based on 2022 tax data. AdvertisementAnd there’s still plenty of opportunity for cities like Las Vegas to sell themselves to potential new residents.

Persons: —, George Rose, he’d, Cameron Spencer, Jenny Chang, Rodriguez, it’s, Mike Kemp, Alyssa Powell, Meta, Rebecca Zisser, cubicles, — Misha Wilson, Taylor Swift, Matt Turner, Dan DeFrancesco, Jordan Parker Erb Organizations: Business, Service, Super, Getty, Super Bowl City, Las Vegas, Vegas, Boeing, Alaska Airlines, Apple, NFL, Workers Locations: Vegas, Las Vegas , Nevada, Vegas Sin, Las Vegas, California, Malibu, New York

☆ A CVS pharmacist at an understaffed store knew she was having a heart attack but stayed at work until she died, her family says
▼ + stars: | 2024-02-09 | by ( Grace Dean | ) www.businessinsider.com time to read: +6 min

A CVS pharmacist died of a heart attack mid-shift at an understaffed store during the pandemic, USA Today reported. AdvertisementA CVS pharmacist at an understaffed store had a fatal heart attack at work – and her family thinks that she didn't go to the ER because she didn't want to leave the pharmacy unattended. People close to Anderson told USA Today they thought she had decided to wait until her replacement arrived before going to the ER. "COVID has exacerbated this already inhumane situation," a former CVS pharmacist in Connecticut said. Michael DeAngelis, CVS' executive director of corporate communications, told USA Today that Anderson's death was a "tragedy that never should have happened."

Persons: —, –, Ashleigh Anderson, understaffed –, Anderson, Joe Bowman, Anderson texted Bowman, Bowman, Larry Anderson, she'd, COVID, Anderson's, CVS, Michael DeAngelis, Ashleigh, DeAngelis Organizations: Service, USA, Workers, CVS Locations: USA, Seymour , Indiana, Anderson, Connecticut

☆ If you're looking for a job, the most important skill this year is adaptability
▼ + stars: | 2024-02-08 | by ( Madison Hoff | Tim Paradis | ) www.businessinsider.com time to read: +5 min

A new LinkedIn report noted adaptability as the "top skill of the moment." LinkedIn's Aneesh Raman said this skill is important given how AI is emerging in the workplace. Adaptability is important too given the number of jobs impacted by AI. "The main takeaway for me is that communication, not coding, is the number one skill across jobs," Raman said. AdvertisementAs job seekers search for work in a labor market with 1.4 US job openings per unemployed person as of December, being adaptable could be important regardless of whether you're looking for work.

Persons: Raman, —, Aneesh Raman, they're Organizations: LinkedIn, Service

BANGKOK (AP) — Chinese and U.S. officials have met in Beijing for talks on tough issues dividing the two largest economies, as trade and tariffs increasingly draw attention in the runup to the U.S. presidential election. The talks sent a “positive signal,” the Global Times, a newspaper of China’s ruling Communist Party, said in an article published late Tuesday. The two sides said the talks in Beijing also touched on issues such as debt problems in developing countries, financial cooperation and economic policies. The Economic Working Group's meeting was its third since it was established in September and its first in Beijing. A Treasury delegation met with Chinese Vice Premier He Lifeng while in Beijing and conveyed a message that Yellen hoped to visit China at an “appropriate time.”

Persons: Joe Biden, Xi Jinping, Biden, Donald Trump, Yellen, ” Organizations: U.S, China’s Ministry of Finance, Global Times, Communist Party, U.S . Treasury Department, International Energy Agency, Treasury Department, Trump, Treasury Locations: BANGKOK, Beijing, U.S, China, Europe, San Francisco , California, Taiwan

Before last year, paid sick leave was generally not offered to railroad workers. That's instead of joining all the other major freight railroads in negotiating jointly with rail unions on an agreement over pay and benefits. The rail industry reached the brink of a strike in the fall of 2022 before Congress and President Joe Biden intervened to force rail workers to accept a contract. Union Pacific, BNSF and Norfolk Southern now have paid sick time agreements in place with all their unions. Canadian National also trails behind the big U.S. railroads, but still offers sick time to about 46% of its U.S. workers.

Persons: —, Ed Dowell, CPKC “, ” CPKC, That's, Patrick Waldron, ” Waldron, “, CPKC, Joe Biden, wouldn't Organizations: Rail, CPKC's, American Train, Association, Kansas City Southern, Canadian Pacific, CSX, Union Pacific, Norfolk, Canadian Locations: OMAHA, Neb, Kansas City , Missouri, CPKC's U.S, Minnesota, U.S, Calgary, United States, Kansas City, Kansas, Canadian Pacific, North America, BNSF, Norfolk Southern

It’s very much hand in hand,” said DeJoy, who acknowledged being impatient with the pace of change, including the rollout of electric vehicles. Those efficiency-driven changes will help the environment by reducing carbon emissions by eliminating wasteful activities, in addition to electric vehicles and other efforts. Last month, the Postal Service unveiled new EVs and charging stations at a new distribution center in Georgia, one of many updated sorting and delivery centers that are opening. The Postal Service plans to take delivery of 66,000 electric vehicles over five years. But not everyone is thrilled by the focus on electric vehicles.

Persons: General Louis DeJoy, Biden, ”, DeJoy, Jennifer Beiro, Craig Stevens, Sharp Organizations: U.S . Postal Service, Postal Service, Congress, Workers, Oshkosh Locations: Georgia, Ford, Oshkosh, Midwest, Portland , Maine

☆ Opinion | As Nevada’s Middle-Class Dream Is Tested, So Is Biden’s Message
▼ + stars: | 2024-02-06 | by ( Mara Gay | ) www.nytimes.com time to read: +1 min

To many Americans, Las Vegas is a burst of glittering hotels and seedy wedding chapels, a mirage-like city rising improbably from the Mojave Desert. The Americans who live in Las Vegas know the city as a destination for the middle class: Valets and cocktail waitresses become homeowners. Lately though, Las Vegas — like much of the United States — has become more expensive. People from California and other expensive states are moving to Nevada, driving up home prices even further. Though they have dipped slightly over the past year, rents in Las Vegas are still roughly 35 percent higher than in December 2019, before the pandemic, according to data from Zillow.

Persons: United States —, Carl Singleton, Singleton Organizations: Immigrants, Workers, Las, United, Mint, Hotel Locations: Vegas, Las Vegas, United States, California, Nevada, Zillow, Louisiana

☆ Bring Office Cubicles Back; Improve Employee Productivity, Hybrid Work
▼ + stars: | 2024-02-05 | by ( Kelli María Korducki | ) www.businessinsider.com time to read: +13 min

In a memorable montage from the 1999 workplace satire "Office Space," Peter Gibbons, a fed-up office drone, decides to take a stand. For years, the office cubicle was the four-walled avatar of corporate disaffection. Late '90s films like "Office Space," "Fight Club," and "The Matrix" enshrined its detested status. The tech boom arrived, bringing with it open office plans and a Silicon Valley-led gloss of egalitarianism, epitomized by Google's high-profile headquarters redesign in 2005. The top comment on the "Office Space" cubicle clip on YouTube captures the irony of this shift: "I would have killed for a cubicle," the commenter wrote.

Persons: Peter Gibbons, Google's, weren't, Nikil Saval, Slack, hasn't, Joseph Country, Heather Chapman, Chapman, Sydney Baker, there's, Baker, Thomas Roulet, Roulet, somethings, it's, Kevin Kelley, Shook Kelley, Kelley, cubicles, hewing Organizations: Toyota Corolla, Porsche, Workers, YouTube, Research, Harvard Business School, Environmental Psychology, University of Cambridge Locations: Silicon, Michigan, Louisville , Kentucky, —, Charlotte , North Carolina

☆ More Americans are working remotely for international companies—here's where they live
▼ + stars: | 2024-02-04 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +3 min

The hiring game is getting globally competitive: The number of American workers hired by international companies grew 62% last year, according to the State of Global Hiring Report from Deel, an HR platform that specializes in global hiring. Most of those roles allow Americans to work remotely, and workers in some U.S. cities are more likely to take on the arrangement. Americans who work remotely for international employers tend to live in San Francisco, according to the report. As far as roles go, international companies are eager to hire Americans to fill jobs in research, sales, software engineering, content and product. Check out: U.S. workers are getting scooped up by international companies hiring remote roles

Persons: Alex Bouaziz, Bouaziz Organizations: State, Global, Workers, San, San Francisco New York Chicago Austin Miami Portland Boston Atlanta Seattle Dallas Locations: Deel, San Francisco, Bay, U.S, San Francisco New York Chicago Austin Miami Portland Boston Atlanta Seattle Dallas These U.S, Canada, France, Singapore, Australia

☆ The New Jobs Report Showed Employees Are Entering a so-so Era
▼ + stars: | 2024-02-04 | by ( Emily Stewart | ) www.businessinsider.com time to read: +6 min

For almost two years, many economists and observers have figured something has to give in the labor market. And then the labor market has turned around and said, "Ha, actually, no." If you're trying to upgrade your job, you're trying to get a better job, the time to do that was probably a year ago. If you have a job, you're at a relatively low risk of losing that job — despite the headlines about layoffs at some big-name companies. "If you're trying to upgrade your job, you're trying to get a better job, the time to do that was probably a year ago," Preston Mui, a senior economist at the macroeconomic policy group Employ America, said.

Persons: Nick Bunker, didn't, Guy Berger, Preston Mui, —, Heck, hasn't, It's, they're, Emily Stewart Organizations: Ferrari, Workers, Glass Institute, Companies, Business Locations: America

☆ Walmart's facial ID tool to combat fraudulent Spark delivery drivers is kicking legitimate workers off the app
▼ + stars: | 2024-02-02 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

BI spoke with another Walmart Spark worker who said they were deactivated immediately after trying to complete the identity verification late last year. AdvertisementGig workers for apps like Spark, Instacart, DoorDash, and Grubhub often have their accounts suspended with little notice or explanation. The rollout comes after some Walmart Spark drivers were found using multiple accounts under false identities to claim more orders and make more money. "The third-party identity verification tool is working as intended. "My account was deactivated after the identity verification," one post from November on r/Sparkdriver reads.

Persons: Chastity Lopez, Lopez, she's Organizations: Walmart, Drivers Locations: New York, Alabama

BANGKOK (AP) — Asian shares were mixed on Thursday after Wall Street fell to its worst loss since September as the Federal Reserve indicated cuts to interest rates are not imminent. On Wednesday, Big Tech stocks burned by the downside of high expectations triggered a sharp slide. The slide for Big Tech stocks dragged the Nasdaq composite to a market-leading loss of 2.2%. The Dow Jones Industrial Average, which has less of an emphasis on tech, fell a more modest 0.8%, to 38,150.30. Three more Big Tech stocks will report results on Thursday: Amazon, Apple and Meta Platforms, the parent company of Facebook and Instagram.

Persons: Dan Ives, ” Tesla, Elon Musk, “ We’re, ”, Jerome Powell, “ It’s, Powell Organizations: Federal Reserve, Nikkei, Big Tech, Nasdaq, Dow Jones, Microsoft, Wedbush Securities, ”, Apple, Facebook, Fed, Wednesday, Treasury, ADP Research, U.S, New York Mercantile Exchange, Brent Locations: BANGKOK, U.S, Shanghai, Seoul, Australia, India, Louvre, Delaware

☆ Working for Google used to be 'sexy and exciting,' with a strong sense of security. Now, not so much.
▼ + stars: | 2024-01-31 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The tech giant has been caught up in the wave of tech layoffs sweeping the industry. Unsurprisingly, the cuts have gone down badly with remaining Google employees, with some lashing out at the tech giant's "boring and glassy-eyed" leaders. "The reason they're taking it harder is that it's not a feeling of 'Google doing what Google has to do.' AdvertisementHe added: "Working for Google is just not as sexy and exciting as it used to be, especially if you are at risk of being laid off anytime."

Persons: —, Sundar Pichai, Severance, Ben Hardy, Hardy, Thomas Roulet, it's, Roulet, They're, Google's Organizations: Service, Google, Business, London Business School, Workers Locations: Cambridge

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