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☆ All those tech workers who've been laid off this year? New data suggests they're going to be just fine in the job market.
▼ + stars: | 2022-12-13 | by ( Rebecca Knight | ) www.businessinsider.com time to read: +6 min

You could do worse than an exit package from Big TechNearly 150,000 tech workers have lost their jobs in 2022, according to the layoff-tracking platform Layoffs.FYI. But tech workers are not likely to be out of a job for long. 'Pent-up demand' for tech workers in healthcare, defense, and bankingMost of the job growth for tech workers is in other industries, the Dice report found. The unemployment rate for the tech industry is hovering around 2%, according to an analysis by CompTIA, an industry association. "The arms race between tech companies on comp and benefits is over."

☆ Workers now have better job security than pre-pandemic, says ZipRecruiter's Julia Pollak
▼ + stars: | 2022-12-08 | 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 EmailWorkers now have better job security than pre-pandemic, says ZipRecruiter's Julia PollakJulia Pollak, Ziprecruiter chief economist, joins 'The Exchange' to discuss the 'white collar' recession and the state of the labor market.

☆ 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.

☆ After the Great Resignation and quiet quitting, the era of 'loud layoffs' is here
▼ + stars: | 2022-11-30 | by ( Jennifer Liu | ) www.cnbc.com time to read: +5 min

Within weeks, mass layoffs primarily in tech, including at Twitter, Meta, Amazon, Salesforce, HP, Lyft, Doordash and more, have flooded headlines. And after the Great Resignation and quiet quitting rocked the market, the new era of "loud layoffs" is having an outsized impact on how people feel about their jobs. Why tech layoffs have a chilling effect: It's 'wrapped up with our economic aspirations'Even though they've been concentrated so far, tech layoffs do have an outsized effect on worker sentiment. "The tech industry is wrapped up with our economic aspirations as Americans. The tech industry is wrapped up with our economic aspirations as Americans.

☆ Cooling job market doesn't take the heat off the holiday hiring spree
▼ + stars: | 2022-11-25 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Shannon-Pettypiece-Circle-Byline-Template.Jpg | Shannon Pettypiece | ) www.nbcnews.com time to read: +7 min

Retailers are entering the holiday season amid a swirl of mixed economic signals. That leaves companies expecting another busy shopping season as they continue to grapple with a competitive job market. Before the holiday hiring rush, retailers were already looking to fill 800,000 open positions, according to the retail federation. There are some signs though that the labor market is starting to shift in employers' favor. "This speed is imperative during holiday hiring," John Patterson, Macy’s vice president of talent, said in an email.

☆ 10 remote jobs that pay more than $100,000 per year—and where to find them
▼ + stars: | 2022-11-17 | by ( Morgan Smith | ) www.cnbc.com time to read: +1 min

While the prospects of finding a new job might seem grim right now given the recent headlines of layoffs and hiring freezes sweeping through the tech sector, there are reasons to be optimistic. Hiring remains strong despite recession fears, according to the Labor Department's latest jobs report — and employers are still adding 60% more jobs each month than before the Covid-19 pandemic hit, ZipRecruiter chief economist Julia Pollak told CNBC Make It. The remote job market is still thriving, too: New research from Ladders shows that companies across tech, media, health care and other industries are increasingly hiring for a variety of roles that can be done from home and offer six-figure salaries. To examine where remote hiring is happening the most for high-paying jobs, Ladders identified the top 20 occupations with the highest number of remote job openings on their site between Aug. 31 and Nov. 1 that pay more than $100,000. Here are some of the top remote jobs employers are hiring for that pay six figures, according to Ladders:

☆ Thousands at Meta, Twitter, Salesforce lost jobs this week—the shock could ripple through the economy for months
▼ + stars: | 2022-11-10 | by ( Jennifer Liu | ) www.cnbc.com time to read: +3 min

Tens of thousands of tech workers have been laid off within days, as tech giants including Meta, Twitter, Salesforce and others shed headcount going into the final stretch of the year. At least 20,300 U.S. tech workers were let go from their jobs in November, and more than 100,000 since the beginning of the year, according to Layoffs.fyi, which tracks layoffs in the field. The latest economic volatility disproportionately affects tech and could impact other downstream industries, Pollak adds. How tech layoffs could impact the economyTech sector cuts will have a ripple effect: Fewer companies prepare to go public, so investment banks take a hit. Hiring is still strong despite economic headwinds, according to the Labor Department's latest jobs report, and Pollak says employers are adding 60% more jobs each month than prior to Covid.

☆ Hiring is still booming in some industries, but falling in others—and job seekers are worried
▼ + stars: | 2022-11-02 | by ( Jennifer Liu | ) www.cnbc.com time to read: +4 min

The job market remains stronger than expected despite ongoing recession fears and seemingly constant news of mass layoffs. Job openings rose to 10.7 million in September, according to the Department of Labor's latest Job Openings and Labor Turnover Survey, after a dip in August that economists said could kick off a downturn in the labor market. But there are still nearly two job openings for every available worker. One the one hand, the health-care industry is "growing by leaps and bounds" with more than 2 million job openings. "Huge companies are winning the war for talent and consolidating the labor market, with mid-sized companies unable to compete," Pollak says.

☆ The number of job openings rose unexpectedly in September
▼ + stars: | 2022-11-01 | by ( Alicia Wallace | ) edition.cnn.com time to read: +1 min

Job openings totaled 10.7 million, up from a revised 10.3 million in August, according to Bureau of Labor Statistics data released Tuesday. Economists had projected job openings would drop to 10 million in September, according to estimates on Refinitiv. Accommodation and food services saw the largest number of new jobs, along with health care and social assistance; and transportation, warehousing and utilities, according to the Job Openings and Labor Turnover Survey, or JOLTS. Layoffs decreased to 1.3 million from a revised 1.5 million. “Job seekers and employers both feel it.”This story is developing and will be updated.

"I think our biggest problem, at least for the foreseeable future, is high inflation," Mark Zandi, chief economist at Moody's Analytics, told CNBC. The Fed can raise interest rates to slow inflation, which ultimately makes the cost of borrowing higher for everyday Americans, and that can be just as painful as inflation. Fiscal policy enacted by Congress and power wielded by big business can help fight rising costs. "Congress has much more targeted tools," Claudia Sahm, former Fed economist, told CNBC. Watch the video above to learn more about how corporations and Congress influence inflation, why the Fed doesn't have to take on rising costs alone and what it will take to normalize the U.S. economy.

☆ Despite the odds, the Great Resignation lives on
▼ + stars: | 2022-11-01 | by ( Madison Hoff | Juliana Kaplan | ) www.businessinsider.com time to read: +6 min

According to Pollak, "the overall trend is back towards less turnover in the labor market, higher retention numbers." At the industry-level, the quit rate in construction slipped to 2.0% after two consecutive months at 2.7%. The quit rate for professional and business services, for instance, increased slightly by 0.2 percentage points to 3.2%. There were 10.7 million job openings in September according to Tuesday's release. But while a lot of job openings might seem like a good thing for the economy, it could spell danger ahead.

☆ 5 of the riskiest industries to work in during a recession, according to economists
▼ + stars: | 2022-10-28 | by ( Morgan Smith | ) www.cnbc.com time to read: +4 min

While a downturn isn't inevitable, many economic forecasters believe it's just a matter of time before a recession hits. While no job is completely immune to economic headwinds, some industries tend to fare worse than others during a downturn. CNBC Make It asked three economists which industries they expect will be the most vulnerable during the next economic downturn. "The risk of a recession is real, but I think there's also a really good chance we don't have a recession at all." Check out:Here's how you can recession-proof your career, according to one CEOThe 4 most 'recession-proof' industries to work in, according to economists5 recession-proof jobs with 'consistently high' demand, according to economistsSign up now: Get smarter about your money and career with our weekly newsletter

☆ Great Resignation quitters got big raises—now, they're worried about their job security
▼ + stars: | 2022-10-27 | by ( Morgan Smith | ) www.cnbc.com time to read: +3 min

Millions of Great Resignation quitters traded up into higher-paying jobs. More than half (56%) of people who started a new, better-paying role in the last year are worried about their job security, according to financial services company Bankrate, which surveyed 2,458 U.S. adults in August. 'Last one hired, first one fired'A vast majority of U.S. CEOs (91%) believe we're headed toward a recession, according to a recent KPMG survey of 1,325 CEOs. At some companies, marketing budgets, human resources employees and contract workers are often the first to go, Foster notes. What you should do if you're worried about your job security

☆ Americans want holiday work, but big retailers like Macy's are cutting back hiring plans amid inflation and recession fears
▼ + stars: | 2022-10-22 | by ( Madison Hoff | ) www.businessinsider.com time to read: +8 min

But big retailers might be slower to add temporary help this holiday season than in years past. Despite an eagerness for holiday work, economists from various career sites agree that seasonal hiring doesn't look so hot this year. For instance, Macy's is planning to hire fewer seasonal workers this year compared to last year, as Insider's Avery Hartmans reported. Target has a similar hiring goal as last year; it plans to hire up to 100,000 seasonal workers. Did you apply for a holiday hiring position because of economic reasons?

☆ The Trump and COVID eras tanked immigration to the US. Reversing that could help ease a recession risk, sky-high inflation, and a labor crisis.
▼ + stars: | 2022-10-18 | by ( Ben Winck | Jason Lalljee | ) www.businessinsider.com time to read: +7 min

More than a third of Americans want less immigration, but more could actually help cool inflation. Letting more people move to and work in the US could close that gap and ease inflation without a severe recession. While many Americans view immigration as a threat to the country's financial well-being, data continually suggests that the opposite is true. There remain some 10.1 million job openings but only about 5.8 million workers available to fill them. Increased immigration, then, provides a rare chance to rebalance the labor market and drag inflation lower without driving millions of Americans out of work.

Fewer job openings may sound bad, but in this moment it's a good sign for the economy. But chairs started being pulled away at a much faster pace in August, which could give job seekers a wake-up call. "If there are 100 chairs and 50 workers, workers are cool, man!" Companies are putting up record job openings, but they're not saying when — or even if — they'll fill them. That's frustrated some job seekers as they apply to multiple roles and never hear back.

☆ Jobs report: The US job market remains robust, but is showing signs of cooling
▼ + stars: | 2022-10-07 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

Minneapolis CNN Business —The fever hasn’t broken yet for America’s employment market, but the temperature is coming down. That, coupled with job openings showing some sharp declines, points to a labor market slowdown — an outcome the Federal Reserve is seeking as it battles decades-high inflation. “The job market is slowing gracefully, moderating jobs and wage growth smoothly as the Federal Reserve searches for signs of cooling inflation,” Daniel Zhao, senior economist for Glassdoor, said in a statement. What could, however, move the needle will be the findings from the inflation data due next week, he said. Job openings outpace job seekers on a 1.7 to 1 ratio, the BLS’ Job Openings and Labor Turnover Survey for August showed.

☆ 5 signs the world is headed for a recession
▼ + stars: | 2022-10-02 | by ( Allison Morrow | ) edition.cnn.com time to read: +12 min

New York CNN Business —Around the world, markets are flashing warning signs that the global economy is teetering on a cliff’s edge. There’s now a 98% chance of a global recession, according to research firm Ned Davis, which brings some sobering historical credibility to the table. In an interview, its CEO was asked whether he believes the slowdown was a sign of a looming global recession. The upshotWhile the consensus is that a global recession is likely sometime in 2023, it’s impossible to predict how severe it will be or how long it will last. Not every recession is as painful as the 2007-09 Great Recession, but every recession is, of course, painful.

☆ These 4 trends are keeping Boomers unemployed and holding the US back from a full recovery
▼ + stars: | 2022-09-28 | by ( Ben Winck | ) www.businessinsider.com time to read: +7 min

Older Americans are struggling to rejoin the workforce, and it's weighing on the economy. That drop in older workers could threaten the already-shaky economic recovery, according to a report published by ZipRecruiter on Wednesday. Yet as the recovery progresses, a handful of obstacles are keeping older Americans out of the workforce. Where that's easily accessible for young workers, older Americans face a steeper learning curve just to compete. Older workers' confidence is dismalThe three aforementioned trends have contributed to a simple truth: older workers are immensely discouraged.

☆ Unlike recent recessions, office jobs are most at risk of layoffs in the coming economic downturn
▼ + stars: | 2022-09-25 | by ( Ben Winck | Madison Hoff | ) www.businessinsider.com time to read: +8 min

Several blue-collar sectors are set to be protected from layoffs, while white-collar workers are at risk. Lee added to Insider that blue-collar workers like truck drivers used to be the "most vulnerable workers" but "office workers have always been considered protected." White-collar sectors hired quickly after the pandemic, and it could leave workers vulnerable in a downturnRecessions come in all shapes and sizes. Blue-collar jobs are still in demand and need more workersSeveral blue-collar sectors have only just recently recovered or are still making their way back. But not all blue-collar jobs will experience layoffs in the same way.

From rising inflation to a red-hot job market and the negative gross domestic product in between, economists are divided on the health of the U.S. economy. This comes at a time when the labor market could hardly appear stronger. In July 2022, there were 11.2 million job openings, revealing a shortage of workers for available positions. "The question is how steeply they will fall, how sharply they will fall, if they go back to 7 million [job openings], the level before the pandemic." Not to mention, the labor market is facing off against the "Great Resignation."

☆ Some jobs won't recover from the pandemic recession. It could be a good thing for workers.
▼ + stars: | 2022-09-17 | by ( Ben Winck | Madison Hoff | ) www.businessinsider.com time to read: +6 min

The US is back to record-high employment, but the labor market looks nothing like it did in early 2020. For starters, many in-person service sectors are still struggling to get back to the employment levels seen before the pandemic. Transit and ground passenger transportation, which includes school buses and public transit, is also still not back to pre-pandemic employment either. "I think overall, accommodation and the broader leisure and hospitality industry will return to pre-pandemic employment levels," Zhao said. The changing labor market could be good for workersThe labor market shakeup isn't necessarily a bad thing.

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