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☆ I'm a nanny for high-profile, high-net-worth families. Here's my advice for those who want to pursue a career like mine.
▼ + stars: | 2023-10-14 | by ( Katie Hawkinson | ) www.businessinsider.com time to read: +5 min

Tré Moment works as a nanny for high-profile and high-net-worth families. AdvertisementAdvertisementThis as-told-to essay is based on a conversation with Tré Moment, a childcare professional and business owner who has worked with high-profile and high-net-worth families since 2015. My career as a nanny for high-net-worth families is just as fun as it is unpredictable. You also have to be prepared for anything with high-profile or high-net-worth clients — but that experience is invaluable for your career. AdvertisementAdvertisementMoment told Insider that people looking to nanny for high-profile families should be prepared for last-minute travel.

Persons: —, It's, I've, haven't, they're, there's Organizations: Service Locations: Atlanta , Georgia, Mexico, Jamaica, Western Europe

☆ Why a Gen Xer who worked remotely for 15 years is now looking for an in-office job
▼ + stars: | 2023-10-10 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +4 min

A Gen Xer is looking for an in-person job after not working in an office for 17 years. Though he hasn't secured a new role yet, he wants to return to a close-knit, in-person office. In 2021, the software architect quit a remote job he'd held for 15 years. Employers are figuring out what sort of hybrid structure works best for productivity and team cohesion, though the Gallup study showed hybrid work is here to stay. Swanson's story shows that while some workers are sure they will never return to a 9-to-5 office job, others are craving face-to-face interaction with coworkers.

Persons: hasn't, —, Grant Swanson, I'm, Swanson, biked, Gallup, — Swanson, he's Organizations: Service, Gallup, San Locations: San Francisco, blindspots

"This quarter is all about higher interest rates for longer," said Mike Mayo, an analyst at Wells Fargo. "There is a constructive environment, and investment banking fees tend to be higher through the end of the year," said Jason Goldberg, a banking analyst at Barclays. Despite the renewed optimism, investment banking activity remains depressed. As rates rise, bond prices fall, representing losses on paper that would be realized if the banks sold the bonds. More broadly, "we're back into this environment where investors think interest rates are going to remain higher for longer," he said.

Persons: JP Morgan Chase, Mike Segar, JPMorgan Chase, Goldman Sachs, Morgan Stanley's, Mike Mayo, Ebrahim Poonawala, Jason Goldberg, Richard Ramsden, James Demmert, Ramsden, Tatiana Bautzer, Saeed Azhar, Lananh Nguyen, Nick Zieminski 私 Organizations: JP, Co, REUTERS, JPMorgan, Citigroup, Wells, Bank of America, Federal Reserve, Wall Street, SoftBank's Arm Holdings, Barclays, U.S, Treasury, Valley Bank, Federal Deposit Insurance Corporation, Reuters, Street Research Locations: New York, Wells Fargo, dealmaking, Israel, Bengaluru

☆ U.S. employers covering weight-loss drugs could nearly double in 2024 - survey
▼ + stars: | 2023-10-09 | by ( ) www.reuters.com time to read: +2 min

A 0.25 mg injection pen of Novo Nordisk's weight-loss drug Wegovy is shown in this photo illustration in Oslo, Norway, August31, 2023. The survey of 502 employers by Accolade (ACCD.O), a company that provides healthcare programs for employers, and research firm Savanta said 43% of the employers it polled could cover GLP-1 drugs in 2024 compared to 25% that cover them now. Nearly all the companies that are covering GLP-1 drugs plan to keep covering them next year, according to the survey. Employers that cover weight-loss drugs are facing a spike in their healthcare costs because of the growing popularity of Wegovy. Benefits consultant Aon (AON.N) said 1 percentage point of the 8.5% increase in employer healthcare costs it predicted for next year would be driven by employee take-up of weight-loss drugs.

Persons: Victoria Klesty, Savanta, James Wantuck, Ozempic, Eli Lilly's, Leroy Leo, Shinjini Organizations: REUTERS, Novo Nordisk, Accolade, Employers, Novo, Novo Nordisk's Wegovy, Thomson Locations: Oslo, Norway, August31, Victoria, Novo, Novo Nordisk's, United States, Bengaluru

☆ US restaurant employment recovers to pre-pandemic levels
▼ + stars: | 2023-10-06 | by ( Amina Niasse | ) www.reuters.com time to read: +2 min

NEW YORK, Oct 6 (Reuters) - U.S. restaurant employment reached pre-pandemic levels in September for the first time in three-and-a-half years, according to a report released Friday, signaling a potentially broader recovery for the leisure and hospitality industry. The gains in restaurant and bar employment last month were almost double the average of 37,000 jobs added monthly over the past year. Food service employment was among the most impacted by the COVID-19 pandemic. While the food industry has picked up in payrolls, leisure and hospitality overall has struggled to regain pre-pandemic levels of employment in a tight labor market. The hotel accommodations and the amusement and gambling services industries remain below their February 2020 employment levels, with hotel employment still 10% below where they were on the eve of the health crisis.

Persons: ”, Julie Su, Amina Niasse, Rod Nickel Organizations: of Labor Statistics, BLS, Employers, Labor, Workers, Thomson Locations: payrolls

☆ Low weekly jobless claims, shrinking trade deficit boost US economic picture
▼ + stars: | 2023-10-05 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

Trade balanceExports of goods and services increased 1.6% to $256.0 billion. Goods imports dropped 0.9% to $256.0 billion amid declines in imports of consumer and capital goods, potentially flagging softening domestic demand amid higher borrowing costs. Cell phones and other household goods accounted for the drop in consumer goods imports. The decrease in capital goods imports reflected declines in semiconductors and electric apparatus. Services imports increased $0.1 billion to $58.4 billion, supported by travel and other business services.

Persons: Andrew Kelly, Christopher Rupkey, Unadjusted, nonfarm payrolls, Oscar Munoz, Goldman Sachs, Veronica Clark, Lucia Mutikani, Chizu Nomiyama, Andrea Ricci Organizations: REUTERS, Federal Reserve, Labor Department, Reuters, Employers, Institute for Supply Management, United Auto Workers, UAW, Ford, General Motors, Chrysler, Treasury, Challenger, Labor, Securities, Commerce Department, Goods, Services, Citigroup, Thomson Locations: Manhattan , New York City , New York, U.S, WASHINGTON, New York, Ohio, California

☆ US employers announce fewer layoffs in September, report shows
▼ + stars: | 2023-10-05 | by ( Amina Niasse | ) www.reuters.com time to read: +2 min

Announced job cuts by U.S.-based employers totaled 47,457 last month, down about 37% from 75,151 in August, outplacement firm Challenger, Gray & Christmas said in the report. The announced layoffs were the largest since 2020, the first year of the coronavirus pandemic, on a year-to-date basis, the report said. Employers most frequently cited market uncertainty as a reason for the layoffs last month, followed by the closure of businesses, units or stores. In September, employers announced plans to add 590,353 jobs, up from the 380,014 announced hires in September 2022. The majority of these positions fill seasonal hiring needs, the Challenger report said.

Persons: Elizabeth Frantz, Andrew Challenger, Amina Niasse, Paul Simao Organizations: REUTERS, U.S, Employers, Bureau of Labor Statistics, Labor, Survey, Challenger, Thomson Locations: Arlington , Virginia, U.S

Slightly more Americans applied for jobless claims last week, but layoffs remain low and the labor market continues to show resiliency amid elevated interest rates imposed by the Federal Reserve. Applications for unemployment benefits ticked up by 2,000 to 207,000 for the week ending Sept. 30, the Labor Department reported Thursday. Jobless claim applications are considered a proxy for the number of layoffs in a given week. Though the unemployment rate ticked up to 3.8%, it’s still low by historical measures. Overall, 1.67 million people were collecting unemployment benefits the week that ended Sept. 23, about 5,000 fewer than the previous week.

Organizations: Federal Reserve, Labor Department

BANGKOK (AP) — Asian markets were sharply lower on Wednesday after Wall Street tumbled as it focused on the downside of a surprisingly strong job market: the likelihood that interest rates will stay high. Expectations that interest rates will stay high are pressuring stocks as Treasury yields rise in the bond market. High yields also make borrowing more expensive for companies and households across the economy, which can hurt corporate profits. Investors increasingly are taking the Federal Reserve at its word that it will keep its main interest rate high for a long time in order to drive down inflation. Several other challenges are also tugging at Wall Street besides higher yields.

Persons: China Evergrande, Australia's, Dow, Stocks, Brent, Shunichi Suzuki Organizations: Nikkei, Dow, Nasdaq, Big Tech, Microsoft, Nvidia, Treasury, Federal Reserve, Fed, New York Mercantile Exchange, Japanese Finance Locations: BANGKOK, South Korea, Hong, China, Bangkok, Japan

[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. "It has all the hallmarks of intervention in all honesty," said Michael Brown, market analyst at Trader X in London. The dollar fell 0.71% to 149.165 yen hovered near break-even against the euro . The yen is a particular casualty of the dollar's march to 10-month highs and the rise in Treasury yields, given a yawning gap between U.S. and Japanese interest rates. Gold prices languished near a seven-month low, weighed down by a robust dollar and elevated bond yields as the likelihood of U.S. rates staying higher for longer dominated sentiment.

Persons: Brendan McDermid, Michael Brown, Ronald Temple, Raphael Bostic, Bostic, Shunichi Suzuki, Suzuki, Brent, Ankur Banerjee, Jamie Freed, Susan Fenton, Jan Harvey, Deepa Babington, Cynthia Osterman Organizations: New York Stock Exchange, REUTERS, Global, Federal Reserve, Trader, Labor, Survey, Lazard, U.S, Dow Jones, Nasdaq, Atlanta Fed, Thomson Locations: New York City, U.S, London, New York, Japan, Singapore

☆ US job openings jump in August; quits rate unchanged
▼ + stars: | 2023-10-03 | by ( Lucia Mutikani | ) www.reuters.com time to read: +4 min

The jump reported by the Labor Department in its Job Openings and Labor Turnover Survey, or JOLTS report, on Tuesday snapped three straight monthly declines in job openings. There were 1.5 job openings for every unemployed person in August and the quits rate was unchanged. Data for July was revised higher to show 8.920 million job openings instead of the previously reported 8.827 million. Economists polled by Reuters had forecast 8.800 million job openings in August. The job openings rate increased to 5.8% from 5.4% in July.

Persons: Elizabeth Frantz, Jeffrey Roach, Lucia Mutikani, Andrea Ricci, Paul Simao Organizations: REUTERS, Federal Reserve, Labor Department, Labor, Survey, Fed, LPL Financial, Reuters, Treasury, Thomson Locations: Arlington , Virginia, U.S, WASHINGTON, Charlotte , North Carolina, State, Hollywood

NEW YORK (AP) — Wall Street is sinking sharply Tuesday as it focuses on the downside of a surprisingly strong job market. Stocks fell as the pressure on them cranked even higher from rising Treasury yields in the bond market. Tuesday's report on the U.S. job market could give the Fed more reason to keep rates high. They and other high-growth stocks are seen as some of the biggest victims of high interest rates. The resumption of student-loan repayments could drag on spending by U.S. households, which has been strong enough to help keep the economy out of a recession despite high interest rates.

Persons: Stocks, Michelle Bowman, ”, Yung, Yu Ma, McCormick, China Evergrande, Eli Lilly, Brent, Matt Ott, Elaine Kurtenbach Organizations: Dow Jones, Nasdaq, Treasury, Federal Reserve, Fed, BMO Wealth Management, Big Tech, Microsoft, Nvidia, Nikkei, AP Business Locations: Wall, China, South Korea, Europe

☆ Here's an exclusive look at the pitch deck two former VCs used to raise $4.7 million in funding for their startup The Grand, whose coaching service is used by Googlers, founders, and NBA players alike
▼ + stars: | 2023-10-03 | by ( Melia Russell | ) www.businessinsider.com time to read: +4 min

In the midst of a funding crapshoot for young startups, The Grand, a four-year-old startup that provides career coaching as a service, has raised $4.7 million in a round of seed funding led by Alexis Ohanian's Seven Seven Six. You could say founders Anita Hossain Choudhry and Rei Wang had a leg up on creating the pitch deck they used to convince venture capitalists to back their startup. The goliath of coaching startups is BetterUp, a startup that offers individual and group coaching and has raised $600 million in funding so far. The Grand is now walking in lockstep with roughly 1,000 members, including Googlers, founders, and pro athletes. Check out the pitch deck that The Grand used to raise $4.7 million in seed funding.

Persons: Alexis Ohanian's Seven, Anita Hossain Choudhry, Rei Wang, Hossain Choudhry, Wang, Oscar, it's Organizations: Google, Intuit, Angel City Football Club, NBA, Carta Locations: Ohanian, lockstep

U.S. applications for unemployment benefits fell to their lowest level in eight months last week as the labor market continues to show strength in the face of elevated interest rates. U.S. applications for jobless claims fell by 20,000 to 201,000 for the week ending Sept. 16, the Labor Department reported Thursday. Jobless claim applications are seen as representative of the number of layoffs in a given week. Though the unemployment rate ticked up to 3.8%, it’s still low by historical measures. Overall, 1.66 million people were collecting unemployment benefits the week that ended Sept. 9, about 21,000 fewer than the previous week.

Organizations: Labor Department, Federal Reserve Locations: U.S

Benefit consultants from Mercer, Aon (AON.N) and Willis Towers Watson (WTW.O) see employer healthcare costs jumping 5.4% to 8.5% in 2024 due to medical inflation, soaring demand for costly weight-loss drugs and wider availability of high-priced gene therapies. Benefit consultants help design insurance plans for medium and large employers. About two-thirds of U.S. workers receive benefits through such plans.Insurers UnitedHealth (UNH.N), Centene (CNC.N), Cigna (CI.N) and Elevance (ELV.N), which manage employer insurance plans, declined to comment for this story. Of its projected 8.5% increase in employer healthcare costs for next year, Aon anticipates 1 percentage point coming from weight-loss drugs alone. Gene therapy treatment of just one employee could significantly raise costs for a company, consultants said.

Persons: Srdjan, Willis Towers Watson, Mercer, Marsh McLennan, Beth Umland, Aon, Novo's Ozempic, Eli Lilly's, Janet Faircloth, Jodi Picoult's, Khushi Mandowara, Leroy Leo, Caroline Humer, Bill Berkrot Organizations: U.S, REUTERS, Reuters Graphics, Novo, Reuters, Employers, Thomson Locations: Ljubljana, Mercer, Aon, United States, Bengaluru

☆ Pay secrecy norms have ‘simply lost their teeth,’ say experts. Here's why
▼ + stars: | 2023-09-18 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

Westend61 | Westend61 | Getty ImagesNew York just adopted a pay transparency ruleNew York on Sunday became the latest state to adopt a pay transparency law. The pay transparency movement is relatively new. Fifty-six percent are more likely to apply for a company — even if they don't recognize the company name — if the salary range is listed, Indeed found. For one, pay transparency may lower overall wages of the broader population of employees, even while raising them for the "inequitably underpaid," Obloj and Zenger said. 'There's still plenty to negotiate' beyond salaryOf course, applicants aren't necessarily beholden to the salary or the pay range posted on a job ad, Woodruff-Santos said.

Persons: NCSL, Salary.com, Zenger, Mandi Woodruff, Santos, Woodruff, you've, they've, there's Organizations: Westend61, Getty, Sunday, Employers, National Conference of State Legislatures, National Women's Law Locations: York, California , Colorado, Washington, New York City, Colorado, Ithaca, Albany, Westchester, New York, Jersey, New Jersey, Cincinnati, Toledo, Ohio ; Maryland ; Connecticut, Rhode, Nevada

U.S. applications for jobless claims rose by 3,000 to 220,000 for the week ending Sept. 9, the Labor Department reported Thursday. Jobless claim applications are seen as representative of the number of layoffs in a given week. Though some measures of inflation have retreated significantly — from as much as 9% down closer to 3% — since the Fed starting raising interest rates, the job market has held up better than most expected. Theough the unemployment rate ticked up to 3.8%, it's still low by historical measures. Overall, 1.69 million people were collecting unemployment benefits the week that ended Sept. 2, about 4,000 more than the previous week.

Organizations: Labor Department, Federal Locations: U.S

☆ 3 LinkedIn red flags that could cost you a job: 'Don't post when you're emotional, upset or angry'
▼ + stars: | 2023-09-11 | by ( Gili Malinsky | ) www.cnbc.com time to read: +3 min

These days, having a LinkedIn profile can be critical to getting a job. If you haven't created a LinkedIn profile yet, don't wait. "To not have any established presence online could be concerning to an employer," says Angelina Darrisaw, career coach and founder and CEO of C-Suite Coach. Here are three LinkedIn red flags to avoid on your profile according to career experts. 'A lot of overlapping job titles'Recruiters also notice inconsistencies in your job experience.

Persons: Angelina Darrisaw, you'll, you've, Phoebe Gavin, doesn't, Octavia Goredema, Darrisaw Organizations: LinkedIn

☆ China's iPhone ban has office workers worried their own bosses will start getting ideas and banning all Apple devices too for no good reason
▼ + stars: | 2023-09-11 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

A recent iPhone ban among Chinese state companies has office workers worried they may be next. While a blanket ban is not announced, some say their bosses already want them to stop using iPhones. Advertisement Advertisement Watch: The US won't let Huawei, China's biggest smartphone maker, enter the US marketMany aired their woes on Weibo, China's version of Twitter, which reveals if the poster is an iPhone user. Changing to a new one is such a waste," another iPhone user posted on Thursday. Another iPhone user said they'd queued to reserve a brand-new iPhone for work over the weekend.

Persons: It's, it's, they'd queued, Sister Ka Organizations: Service, Bloomberg, Street Journal, Huawei, China's, Twitter, Apple, Employers, Tech, Nikkei Locations: Wall, Silicon, China, Weibo, Guangdong, Hong Kong

“In this case, Tony Downs has agreed to take important steps to prevent child labor violations,” department Commissioner Nicole Blissenbach said in a statement. Political Cartoons View All 1148 ImagesTony Downs “disputes and does not admit the violations of law alleged” by the labor department, according to the agreement. The investigation into Tony Downs began after the Minnesota labor department received a complaint about working conditions at the Madelia plant, according to the complaint. Investigators conducted an overnight inspection between Jan. 26 and Jan. 27, interviewed workers, documented working conditions and contacted area school districts. The labor department found that Tony Downs was aware of the issue.

Persons: Tony Downs, Nicole Blissenbach Organizations: Tony, Tony Downs Food Company, Minnesota Department of Labor, Industry, Employers Locations: Minn, Minnesota, Mankato, Madelia

The number of Americans applying for unemployment benefits last week fell to the lowest level in seven months with the labor market seemingly resistant to the higher interest rates put in to place to cool hiring. U.S. applications for jobless claims fell by 13,000 to 216,000 for the week ending Sept. 2, the Labor Department reported Thursday. Jobless claim applications are seen as representative of the number of layoffs in a given week. The Fed’s rate hikes are intended to cool the job market and bring down wages, which many economists believe suppresses price growth. Overall, 1.68 million people were collecting unemployment benefits the week that ended August 26, about 40,000 fewer than the previous week.

Organizations: Labor Department, Federal Reserve Locations: U.S

MUMBAI, Sept 4 (Reuters) - The Indian rupee is likely to open little changed on Monday after a soft U.S. jobs report reinforced expectations that the Federal Reserve will not hike interest rates anymore, but the dollar still managed to rally. Non-deliverable forwards (NDF) indicate rupee will open at around Friday's level of 82.7150. Following the report, futures indicated almost no chance of a September rate hike and about a 35% chance of a hike in November. The dollar and U.S. yields initially dropped following the report but recovered later. The dollar index reached a high of 104.26 on Friday and the 10-year U.S. Treasury yields reached 4.17%.

Persons: Goldman Sachs, Nimesh, Eileen Soreng Organizations: Federal Reserve, U.S, ING Bank, Treasury, Labor, Brent, Thomson Locations: MUMBAI, U.S

Sept 1 (Reuters) - The U.S. Federal Reserve is likely done raising interest rates, traders bet on Friday after a government report showed the unemployment rate rose last month and wage growth cooled. Futures that settle to the Fed's policy rate had already priced in only a slight chance of a rate hike this month. "This report is likely to put the Fed on hold in September, and if we get more positive inflation news in September and October, the Fed is likely done, and we’ve seen the end of the rate hikes," said Peter Cardillo, chief market economist at Spartan Capital Securities. "In the labor market, some progress is being made in bringing demand and supply into better balance, but the job market is still strong,” she told a European Central Bank conference shortly after the latest jobs report. Traders currently see the Fed likely on hold through April 2024, with rate cuts to start in May.

Persons: we’ve, Peter Cardillo, Loretta Mester, Ann Saphir, Stephen Culp, Michael S, Lucia Mutikani, Alex Richardson, Andrea Ricci, Marguerita Choy Organizations: U.S . Federal, Labor Department, Employers, Spartan Capital Securities, Fed, Cleveland Fed, European Central Bank, Traders, Derby, Thomson

☆ Pay Gains Are Slowing, Easing Worries on Inflation
▼ + stars: | 2023-09-01 | by ( Ben Casselman | More About Ben Casselman | ) www.nytimes.com time to read: +1 min

American workers got smaller pay increases in August. But the slowdown in wage gains is consistent with other evidence suggesting a gradual cooling in the labor market. For workers, the pain of slower wage growth is being offset, at least to some degree, by cooling inflation. Price increases outpaced pay gains for much of last year, but that trend has since reversed. Pay, adjusted for inflation, has risen in recent months; the Labor Department will release August price data later this month.

Persons: Price Organizations: Federal Reserve, Employers, Labor Department

☆ US consumer spending accelerates; monthly inflation rates cooling
▼ + stars: | 2023-08-31 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

Consumer spending is being supported by a tight labor market, with other data showing first-time applications for unemployment benefits unexpectedly falling last week. "How long inflation can continue to come down with consumer spending this strong is an open question." When adjusted for inflation, consumer spending increased 0.6%, also the largest gain since January. The so-called real consumer spending rose 0.4% in June. The annual PCE inflation rates were lifted by a lower base of comparison last year.

Persons: Andrew Kelly, Christopher Rupkey, nonfarm payrolls, Lucia Mutikani, Chizu Nomiyama, Andrea Ricci Organizations: REUTERS, Federal Reserve, Commerce Department, Services, Treasury, Reuters Graphics Reuters, Fed, Employers, Labor Department, Reuters, Thomson Locations: Manhattan , New York City, U.S, WASHINGTON, New York, outlays

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