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☆ Women are seeing historic labor market gains. AI could disrupt that
▼ + stars: | 2023-06-21 | by ( Alicia Wallace | ) edition.cnn.com time to read: +11 min

Minneapolis CNN —More prime working age women are employed in the United States now than ever before. The labor force participation rate for women between 25 and 54 years old set a record high in April and then again in May, rebounding from the pandemic “she-cession” and returning to its pre-pandemic form of making progressively historic labor market gains. Estimates that nearly eight out of 10 women workers could be affected “are just staggering,” said Julia Pollak, chief economist with online job marketplace ZipRecruiter. “Some of these things are becoming more prevalent, and that’s supportive of more women in the labor market,” she said. On the other hand, AI could prove harmful and threatening for any role that is highly “automatable,” Peterson said.

Persons: Goldman Sachs, University of North Carolina’s, ”, Julia Pollak, it’s, Mark McNeilly, Flagler, “ It’s, ‘ I’m, ’ ” McNeilly, “, Pollak, didn’t, Dana Peterson, that’s, ” Peterson, Ben Zweig, Jobs, Peterson, we’ve, Sara Mannheimer, Kathrin Ziegler, ” Meredith Nudo, you’re, Nudo Organizations: Minneapolis CNN —, University of North, University of North Carolina’s Kenan, Flagler Business School, Kenan, Flagler, UNC Kenan, CNN, of Labor Statistics, Conference Board, Baby Boomers, Labs, Montana State University, Institute of Museum and Library Services, Librarians, Digital, National Association of Voice Locations: Minneapolis, United States, Houston

☆ Construction and manufacturing jobs have been remarkably resilient, says ZipRecruiter's Julia Pollak
▼ + stars: | 2023-06-15 | 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 EmailConstruction and manufacturing jobs have been remarkably resilient, says ZipRecruiter's Julia PollakJulia Pollak, ZipRecruiter chief economist, joins 'Fast Money' with the results of ZipRecruiter's 'Q2 New Hire' survey.

Persons: ZipRecruiter's Julia Pollak Julia Pollak, ZipRecruiter Organizations: ZipRecruiter's, Hire

☆ No job, no problem: For some, a 'funemployment' summer after quitting sounds like a perfect plan
▼ + stars: | 2023-06-06 | by ( Rebecca Knight | ) www.businessinsider.com time to read: +6 min

"I want to take a beat and decide how I'm going to live my life," Pena, 37, told Insider. "People now have more freedom to hop in and out of the labor market," she told Insider. Wren Taylor, 35, enjoyed her summer of funemployment last year after being laid off from her corporate marketing job. "Their comments affirmed that I wasn't wasting my time," she told Insider. During job interviews, she said that all she could think about was the freedom she'd lose by going back to a traditional job.

Persons: Suzy Welch, —, Delia Pena, " Pena, Pena, she's, I'm, Gen, funemployment, Randall Peterson, who'd, Wren Taylor Wren Taylor, Julia Pollak, Pollak, Wren Taylor, they'd, I'd, Wren Organizations: NYU, Service, London Business School, ZipRecruiter, Labor Department, Catalina Locations: funemployment

☆ It's not just the money. People are doing side hustles to socialize and be creative as well.
▼ + stars: | 2023-06-05 | by ( Madison Hoff | ) www.businessinsider.com time to read: +6 min

Money is a big reason why many people take on side hustles, but there are non-financial reasons why people try side jobs too. "Side hustlers are much more likely to view this extra income as essential, rather than a passion project or a way to get ahead financially." In the April survey, 39% of US adults said they do something "to earn extra income on the side" outside of their primary income source. For example, people may want to make extra money outside of a main job to put toward paying off debt. One full-time worker who tries side hustles told Insider he does his side hustle work during some nights.

Persons: —, Bankrate, Ted Rossman, Jennifer Nahrgang, Palmer, Trisha Diamond, hustles, Diamond, Gen, Nahrgang, Julia Pollak, Uber, Clarke Bowman, Bowman Organizations: Service, Management, Entrepreneurship, University of Iowa's Tippie College of Business Locations: Bankrate

☆ The job market held up in May. But the Fed may have already decided to pause
▼ + stars: | 2023-06-02 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

Washington, DC CNN —The US labor market picked up momentum in May, once again defying expectations of a slowdown. Many economists, including those at the Fed, still expect a recession later in the year. The labor market and signs of future disinflationThe May jobs report mostly showed that the labor market held up. Some top economists have argued that the strong labor market has had a minor, albeit growing, impact on inflation. Hawkish Fed officials still think the Fed’s job isn’t done.

Persons: That’s, Joe Biden’s, ”, Philip Jefferson, Patrick Harker, “, ” Harker, It’s, ” Julia Pollak, ZipRecruiter’s, you’ve, you’d, Dave Gilbertson, hasn’t, Ben Bernanke, ” Jack Macdowell, Louis President James Bullard, Bullard, Louis Fed’s, Louis, Jerome Powell, there’s, Ian Shepherdson, Eugenio Alemán, Raymond James Organizations: DC CNN, Federal, Fed, Federal Reserve Bank of Philadelphia, National Association for Business Economics, CNN, Employers, of Labor Statistics, BLS, UKG, The Palisades Group, Hawkish Fed, Federal Reserve Bank of St, Louis Fed, Pantheon Locations: Washington, Washington ,

☆ Jobs report: What to expect from the May data
▼ + stars: | 2023-06-01 | by ( Alicia Wallace | ) edition.cnn.com time to read: +5 min

But despite all that, the labor market has kept humming right along. And that’s largely expected to be the case, again, in Friday’s monthly jobs report from the Bureau of Labor Statistics. Private sector employment increased by 278,000 jobs in May, according to ADP’s monthly National Employment Report, frequently seen as a proxy for the government’s official number. Labor turnover data released Wednesday showed that the US employment market remained tight in April. The government’s May jobs report is scheduled for Friday at 8:30 a.m.

Persons: ” Daniel Zhao, that’s, ” Julia Pollak, “, Pollak, ”, Michael Feroli, Matthew Martin, ” Pollak, it’s Organizations: Minneapolis CNN, Federal Reserve, Bureau of Labor Statistics, “, ”, Commerce Department, CNN, Labor, JPMorgan, Oxford Economics, Challenger, Conference Locations: Minneapolis, April’s

☆ The ‘great resignation’ — a trend that defined the pandemic-era labor market — seems to be over
▼ + stars: | 2023-05-31 | by ( Greg Iacurci | ) www.cnbc.com time to read: +2 min

Quits started to surge in early 2021 as Covid-19 vaccines rolled out to the masses and the U.S. economy started to reopen. Business' demand for workers outstripped the supply of people looking for a job, giving workers an unprecedented amount of power in the labor market. We are much closer to the labor market we had in 2019, which was hot but not overheating. Conditions are still favorable for job seekersIt's unclear if the labor market will cool further from here. While quits and job openings told different labor market stories in April, quits are generally a less volatile and more reliable indicator, economists said.

Persons: Quits, Julia Pollak, Pollak, Daniel Zhao Organizations: Getty Images Workers, Business, Employers, Glassdoor, Federal, BLS Locations: U.S

☆ US labor market still tight as job openings rise, layoffs fall
▼ + stars: | 2023-05-31 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

The Job Openings and Labor Turnover Survey, or JOLTS report, from the Labor Department on Wednesday also showed layoffs declining significantly last month. There were 1.8 job openings for every unemployed person in April, up from 1.7 in March. Data for March was revised higher to show 9.75 million job openings instead of the previously reported 9.59 million. There were 185,000 more job openings in healthcare and social assistance, while vacancies jumped by 154,000 in the transportation, warehousing, and utilities. But Walker also acknowledged that some of the alternative measures of job openings could be downwardly biased, as their sample could be skewed toward companies which are more likely to have an online presence and have cut job openings sharply.

Persons: Priscilla Thiagamoorthy, Goldman Sachs, Ronnie Walker, Walker, JOLTS, Julia Pollak, Lucia Mutikani, Paul Simao, Andrea Ricci Organizations: Federal Reserve, Labor, Survey, Labor Department, Fed, BMO Capital Markets, Reuters, Treasury, ZipRecruiter, Thomson Locations: WASHINGTON, U.S, Toronto

☆ You hate your job but you love working from home: You're in remote-work handcuffs
▼ + stars: | 2023-05-28 | by ( Rebecca Knight | ) www.businessinsider.com time to read: +5 min

There are many unhappy remote workers who wish they could quit and get another remote job. The golden handcuffs phenomenon is an obvious parallel, Denise Rousseau, a professor of organizational behavior at Carnegie Mellon's Tepper School of Business, told Insider. "If you're remaining in a job for purely extrinsic reasons — your working conditions are hard to replace — you're going to have more stress." In March 2022, roughly 20% of job listings on LinkedIn offered remote work; last month, such listings dwindled to 10%. David Bakke works from home in Georgia and said that while he doesn't "completely hate" his position, he'd quit if he could find another remote job.

☆ The Great Resignation is giving way to the 'Big Stay' as job-hopping slows down
▼ + stars: | 2023-05-13 | by ( Madison Hoff | ) www.businessinsider.com time to read: +6 min

It may be accurate to say the quitting situation is evolving into the "Big Stay," per ADP's chief economist. "The Big Quit of 2022 could be easing into the Big Stay of 2023," Richardson wrote in her recent commentary. "A year later, all three of these dynamics are abating, and the great resignation itself is looking like a thing of the past." Pollak said that "to the extent that there is a big stay, it is not taking place across the economy." Even if the Great Resignation might not be prevalent in all areas of the economy right now, it could emerge again.

☆ How a shockingly resilient jobs market saved the US from a recession
▼ + stars: | 2023-05-09 | by ( Madison Hoff | ) www.businessinsider.com time to read: +7 min

Several measures from Friday's jobs report show the labor market is stronger than it's been in decades. But Terrazas pointed to potential concerns in the labor market and for interest rates. "If it's the former, it's just a matter of time before gravity catches up with the labor market," Terrazas said. Overall though, the different robust labor market data suggests the US could maybe avoid a recession as has been the case so far in 2023. Despite potential risks in the job market, Pollak believes there's a possibility that the US continues to avoid a recession.

☆ Jobs report: Who’s hiring and who’s firing?
▼ + stars: | 2023-05-06 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +2 min

Instead, the latest jobs report showed the unemployment rate fell to 3.4% in April after 253,000 jobs were added last month. But hiring isn’t strong across the board, and is concentrated in a handful of industries. Professional and business services, which include a wide range of jobs such as accountants, lawyers and engineers, added 43,000 jobs, the biggest gain across all industries. Where workers got laid offEven though the jobs report showed a net positive gain, there were some sizable layoffs. Transit and passenger service jobs include people who work within mass transit system as well as taxi and school bus drivers.

☆ Will wages outpace inflation for long? It depends on the job
▼ + stars: | 2023-05-05 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Washington, DC CNN —Wages are now finally beating inflation, according to the latest quarterly data on wage growth. That was the biggest monthly increase since March 2022, though wage growth had gradually slowed since then. “The folks who left one company and went to another are the ones who are still benefiting from wage growth,” said Morgan Llewellyn, chief data scientist at Jobvite. Part of the continued strength in wage growth largely has to do with employers’ difficulty in hiring, which varies by industry. “Wage growth has still been higher for job changers than job stayers and that suggests that there’s still a shortage of labor for some companies,” said Dawn Fay, operational president at staffing firm Robert Half.

☆ Get ready for a Goldilocks summer featuring a job market that's neither too hot nor too cold
▼ + stars: | 2023-04-12 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +5 min

It's set up a Goldilocks situation heading into summer, where the job market is cooling, but not enough to have an adverse effect on the average American. That could mean a summer of fewer price spikes at the grocery store, and less businesses scrambling to hire, while workers maintain some power in the job market. "We're still in a hot labor market," Nick Bunker, the economic research director for North America at Indeed Hiring Lab, told Insider. Getting to a just-right job marketBunker told Insider the US job market is getting close to something that looks like what we saw prior to the pandemic. If they did, it would represent a job market tipping into the "too cold" zone.

☆ Job growth totals 236,000 in March, near expectations as hiring pace slows
▼ + stars: | 2023-04-07 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

watch nowNonfarm payrolls rose about in line with expectations in March as the labor market showed increased signs of slowing. The Labor Department reported Friday that payrolls grew by 236,000 for the month, compared to the Dow Jones estimate for 238,000 and below the upwardly revised 326,000 in February. "I have never seen a report align with expectations as much today's over the last two years." Leisure and hospitality led sectors with growth of 72,000 jobs, below the 95,000 pace of the past six months. While the February report was revised up from its initially reported 311,000, January's number moved lower to 472,000, a reduction of 32,000 from the last estimate.

Since 1977, the Federal Reserve has focused on creating maximum employment and maintaining stable prices, commonly known as the dual mandate. "[Maximum employment is] this more sort of amorphous thing," Rucha Vankudre, a senior economist at labor market analytics firm Lightcast, told CNBC. However, at the Federal Open Market Committee news conference in January 2022, Federal Reserve Chairman Jerome Powell announced that "labor market conditions are consistent with maximum employment." Maximum employment is also difficult to quantify because existing measures of employment, such as the unemployment rate or the labor force participation rate, often do not account for certain groups of people. Watch the video above to learn more about what maximum employment really means and how inflation impacts employment.

☆ The job market is clearly starting to slow down
▼ + stars: | 2023-04-07 | by ( Madison Hoff | ) www.businessinsider.com time to read: +2 min

The US added 236,000 jobs in March less than the revised gain for February. The job gain in March was also below February's revised gain. While the payroll gain in March was below February's job creation, the labor market is still showing some strength, according to today's report and Job Openings and Labor Turnover data. Job openings tumbled by 632,000 in February to 9.9 million. However, the level is still above the 7 million openings in February 2020 before the pandemic.

☆ ‘We’re at a tipping point:’ What to expect from the jobs report
▼ + stars: | 2023-04-07 | by ( Alicia Wallace | ) edition.cnn.com time to read: +9 min

Minneapolis CNN —The US labor market has kept trucking right along even as other areas of the economy have slowed. ET Friday when the Bureau of Labor Statistics drops the heavily anticipated jobs report for March. On Wednesday, the latest private-sector jobs report from payroll processor ADP came in at 145,000 for March, landing below expectations. There still remains uncertainty about the extent to which those and other layoffs may ripple through the broader labor market. The Bureau of Labor Statistics is set to release its March jobs report at 8:30 a.m.

☆ ‘We’re at a tipping point:’ What to expect from the jobs report on Friday
▼ + stars: | 2023-04-06 | by ( Alicia Wallace | ) edition.cnn.com time to read: +9 min

Minneapolis CNN —The US labor market has kept trucking right along even as other areas of the economy have slowed. Just how much of a shift there is could become even clearer on Friday when the Bureau of Labor Statistics drops the heavily anticipated jobs report for March. On Wednesday, the latest private-sector jobs report from payroll processor ADP came in at 145,000 for March, landing below expectations. There still remains uncertainty about the extent to which those and other layoffs may ripple through the broader labor market. The Bureau of Labor Statistics is expected to release its March jobs report on Friday at 8:30 a.m.

☆ Takeaways from the February jobs report
▼ + stars: | 2023-03-11 | by ( Alicia Wallace | ) edition.cnn.com time to read: +9 min

Minneapolis CNN —February’s jobs report had a little something for everyone. In February, the construction industry added 24,000 jobs, marking 12 consecutive months of employment growth. Friday’s report showed that “a modicum of slack crept back into the jobs market,” wrote Wells Fargo economists Sarah House and Michael Pugliese. However, Friday’s jobs report likely won’t spur a more dovish turn from the Fed, said Sean Snaith, an economist and director of the University of Central Florida’s Institute for Economic Forecasting. “We didn’t go from a four-alarm fire to a five-alarm fire with this data report, but the inflation flames aren’t out either,” he wrote in a note Friday.

☆ What to expect from the February jobs report
▼ + stars: | 2023-03-10 | by ( Alicia Wallace | ) edition.cnn.com time to read: +8 min

Minneapolis CNN —January’s jobs report delivered a heck of a surprise when it showed the US economy had added more than half a million jobs and unemployment had dipped to a level not seen in more than five decades. But economists say they are not bracing for another blindside when the February jobs report comes out on Friday morning. “If we get a second strong jobs report [on Friday], it’s no longer an anomaly,” Terrazas added. Seasonality, benchmarking and the interplay of pandemic-era data don’t completely explain away January’s blockbuster jobs report, economists say, noting there are likely influences from the currently tight labor market. The Bureau of Labor Statistics’ February jobs report is set to be released at 8:30 a.m.

☆ Layoffs are still historically low, so why does it feel like everyone's losing their job?
▼ + stars: | 2023-03-09 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +9 min

The layoffs and discharges rate in January was 1.1%, which remains historically low. While BLS data may show a low US layoff rate overall, tech layoff announcements are important, given Pollak said that tech and finance are "synonymous with Americans' aspirations generally." "Those markets are very exposed to tech layoffs, and tech plays a disproportionate role in the economy," Terrazas added. Pollak told Insider that the layoffs at tech companies are "relatively small" and that "many companies also are not pursuing layoffs across the board." Despite the layoff rate being very low, job seekers may still be concerned about these headlines.

☆ February jobs preview: What to expect after January’s blowout report
▼ + stars: | 2023-03-09 | by ( Alicia Wallace | ) edition.cnn.com time to read: +8 min

Minneapolis CNN —January’s jobs report delivered a heck of a surprise when it showed the US economy had added more than half a million jobs and unemployment had dipped to a level not seen in more than five decades. But economists say they are not bracing for another blindside when the February jobs report comes out on Friday. “I think most economists were comfortable dismissing the January jobs data as an anomaly,” Aaron Terrazas, Glassdoor’s chief economist, told CNN. “If we get a second strong jobs report [on Friday], it’s no longer an anomaly,” Terrazas added. Seasonality, benchmarking and the interplay of pandemic-era data don’t completely explain away January’s blockbuster jobs report, economists say, noting there are likely influences from the currently tight labor market.

☆ Full-time office work is 'dead': 3 labor experts weigh in on the future of remote work
▼ + stars: | 2023-03-03 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

watch nowInitially, remote work was seen as a necessary measure to contain the spread of the virus. Twitter recently shut its Seattle offices as a cost-cutting measure and told employees to work from home, a reversal from an earlier position that employees work at least 40 hours a week in the office. "It's still an evolving trend, but the movement is very much toward increased remote work," Pollak said. Remote work may endure even in a recessionNot everyone agrees that the benefits of working from home outweigh costs. Evidence suggests employee mentoring, innovation and company culture may suffer if jobs are fully remote, Bloom said.

☆ Hybrid workers earn more than remote and in-person workers, according to new research—here's why
▼ + stars: | 2023-02-10 | by ( Morgan Smith | ) www.cnbc.com time to read: +3 min

Hybrid workers who spend one to four days in the office a week earn more than people with fully remote or in-person jobs, according to recent data from WFH Research. The research, conducted by Jose Maria Barrero, Nicholas Bloom, Shelby Buckman, and Steven J. Davis, found that hybrid workers make at least $80,000 per year on average. For remote jobs, companies can source candidates from places that have a lower cost of living, whether it's a different state or a different country altogether, reducing their hiring costs and, in turn, remote workers' earnings, Julia Pollak, chief economist at ZipRecruiter, points out. People in remote jobs are also more willing to take a pay cut in exchange for better work-life balance, Pollak says. Citing workers' willingness to sacrifice higher pay for greater flexibility, Barrero expects the pay gap between remote and in-person workers to shrink in the coming months — but hybrid workers will continue to earn the most.

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