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☆ One out of 5 college-educated workers say they're worried about losing their jobs to tech — a big increase over 2021's poll
▼ + stars: | 2023-09-11 | by ( Aaron Mok | ) www.businessinsider.com time to read: +5 min

22% of US workers say they worry technology will replace their jobs — an increase from 2021, Gallup says. Workers with concerns tend to be young, college-educated, and make under $100k a year. The growing fear comes as AI tools like ChatGPT can now perform job tasks like writing and coding. And when considering just college-educated workers, the rise in worry is even sharper: from 8% who were worried in 2021 to a whopping 20% who are worried today, the poll says. The rapid development of generative AI technology, the Gallup researchers say, "may be changing the stereotype of what computers can do in the workplace."

Persons: Gallup, Alexis Ohanian, it's, ChatGPT, Goldman Sachs, Gray, Emily Hanley, Suumit Shah, Gallup didn't Organizations: Service, Gallup, Challenger Locations: Wall, Silicon

☆ States’ Paid Leave Plans Could Help Protect Caregivers’ Savings
▼ + stars: | 2023-09-09 | by ( Constance Sommer | ) www.nytimes.com time to read: +1 min

The 51-year-old’s finances are still recovering from the hit they took more than a decade ago, after she spent about eight years caring for her ailing father. She also deferred payments on her student loans, forced to let the interest build up. But that leave isn’t paid. This year, Minnesota and Maine became the latest of 13 states, along with the District of Columbia, to offer paid caregiving leave. The programs cover all eligible workers and are financed either by workers alone, or workers and employers.

Persons: Tara, it’s, Driver, she’d, isn’t, caregiving Organizations: District of Columbia, Lawmakers Locations: Minnesota, Maine, Illinois , Michigan, Pennsylvania

☆ Women will accept $66,000 a year to take a new job — while men hold out for more than $90,000
▼ + stars: | 2023-09-06 | by ( Jessica Dickler | ) www.cnbc.com time to read: +5 min

For men, the average lowest wage they would be willing to accept for a new job is $91,048, about $25,000 more than the average women would accept, which currently stands at $66,068. Regarding her first job as a senior analyst in 2017, El-Amin said, "I was offered $68,000, I countered and asked for $72,000," she said. In her most recent role, El-Amin, now 28, earned $200,000, she said. Negotiate for higher pay Differences in the way women and men approach negotiating their pay has played a role in the gender pay gap, research shows. "Women tend to look for mentors and men tend to look for sponsors who will help them negotiate," she said.

Persons: Cinneah El, Amin, I've, El, Barnard, Aronstein, Trevor Bogan, Bogan, Laurie Chamberlin, Chamberlin, Alex Gailey Organizations: New, Federal, Barnard, Columbia University, Finance, Pew Research Center, Top Employers Institute, Adecco, Mentors, Gallup Locations: El

☆ Commerce secretary says US has ‘open lines of communication’ with China
▼ + stars: | 2023-09-03 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +3 min

CNN —The economic relationship between the US and China is mutually beneficial and opening lines of communication is key to maintaining it, US Commerce Secretary Gina Raimondo told CNN’s Dana Bash on Sunday. She is the fourth cabinet member to visit China this year and the first commerce secretary to visit China in five years. China hit back earlier this summer with its own export controls on gallium and germanium, raw materials essential for producing chips. But during her China visit, Raimondo was clear the US does not want to completely decouple from China when it comes to these semiconductors and chips. “We have plenty of tools in our toolbox … export controls, outbound investment screening, tariffs, countervailing duties.

Persons: Gina Raimondo, CNN’s Dana Bash, Raimondo, ”, Biden, ” Raimondo, “, –, Laura He, Michelle Toh Organizations: CNN, US, Union, Department of, US Commerce Department Locations: China, “ State

☆ U.S. expat in New Zealand was 'embarrassed' this moving cost tripled his budget—but has no regrets
▼ + stars: | 2023-09-03 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +2 min

Since the early 2000s, he and his wife, Karen, traveled to New Zealand for vacation. But one other major expense caught them by surprise: bringing along their two dogs, Xena the Warrior Princess and Buffy the Vampire Slayer. Jon Kroll"I cannot emphasize enough how important it is, if you plan to bring animals with you, to make that part of your early planning process," Kroll tells CNBC Make It. And it's an expensive process, at that. "But once we retrieved Buffy and Xena from quarantine, our house instantly felt like a home."

Persons: Jon Kroll's, Kroll, Karen, Wellington, Buffy, Jon Kroll, I'm Organizations: CNBC Locations: New Zealand, Los Angeles, LA, Wellington

☆ Summer’s Not Over Yet
▼ + stars: | 2023-09-02 | by ( Melissa Kirsch | More About Melissa Kirsch | ) www.nytimes.com time to read: +1 min

This weekend, while you’re working the grill or attending a parade or sitting in traffic, conversation will turn, inevitably, to the end of summer. Labor Day, nominally a holiday celebrating the industriousness of the American worker, also serves to remind the worker that they haven’t been quite as industrious as they might have been these past three months. In his eulogy for summer’s lazy days in The Times today, my colleague Stephen Kurutz mourns the vestiges of truly unmonitored working from home that this fall seems to augur: “Will we forget the small pleasure of sitting on a porch and looking at the yard?” he writes. Of trading the daily commute for an aimless drive?”Why must there be such an austere demarcation between before Labor Day and after, between summer and not-summer, between enjoying our lives and enduring them? Why have we so internalized the back-to-school dread of childhood that it’s become a permanent feature of adulthood?

Persons: You’ll, Stephen Kurutz, it’s Organizations: Labor, The Times Locations: The

☆ 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

☆ What to expect from Friday’s jobs report: Steady, but slower, growth
▼ + stars: | 2023-08-31 | by ( Alicia Wallace | ) edition.cnn.com time to read: +5 min

Minneapolis CNN —Last month, the Bureau of Labor Statistics delivered a jobs report that only Baby Bear could offer: not too hot, not too cold, but just right. While that figure was well below the breakneck pace of job growth over the past three years, it was roughly in line with the monthly average seen in the decade before the pandemic. The August jobs report, set to be released on Friday at 8:30 a.m. ET, is expected to show that the labor market will stay in this sweet spot. The Fed has been wanting to see more slack in the labor market in its battle to bring down inflation.

Persons: Minneapolis CNN —, ”, Julia Pollak, it’s, “, Pollak, Dean Baker, Jerome Powell’s, “ I’m, Rachel Sederberg, ” Andrew Challenger Organizations: Minneapolis CNN, of Labor Statistics, Federal Reserve, Center for Economic, Policy Research, Labor, CNN, Private, ADP, Challenger Locations: Minneapolis

☆ Saving $100 a week from age 25 could give you over $1 million when you retire
▼ + stars: | 2023-08-30 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +4 min

The key to a comfortable retirement may be saving $100 a week starting at 25. The chart below shows how much you can save up by putting away $400 a month starting on your 25th birthday, assuming that historically reasonable 7% annual return. Putting this into perspective, if people saved just $100 a month starting at 25, they'd save over $250,000 by 65 because of compounding interest. This jumps to over $550,000 when saving $50 a week starting at 25, which highlights Milken's suggestion to focus on "holistic life planning." About 25% of Americans lack retirement savings, while half have no access to employer-sponsored retirement plans, The Motley Fool reported based on data from the Federal Reserve.

Persons: they'd Organizations: Service, Milken Institute, Transamerica Center, Retirement Studies, Federal Reserve, of Labor Statistics, Fidelity Locations: Wall, Silicon

☆ Just under half of North American office-goers came in for less than 6 hours a day in the first half of 2023
▼ + stars: | 2023-08-30 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

43% of workers returning to the office came in for under 6 hours in the first half of 2023, said a workplace analytics firm. In the same period, average office occupancy rates in North America peaked at 35% per week. AdvertisementAdvertisementThose clocking in for the shortest stints — representing about 1 in 5 North American office-goers — did so for less than 3 hours a day. Average office occupancy rates in North America peaked at 35% a week during the first half of the year, per Basking's data. The start and end of the workweek were the least popular for office-goers, with North American offices seeing a 17% occupancy rate on Monday.

Persons: —, RTO, Goldman Sachs, JP Morgan, Morgan Organizations: North America, Service, Washington Post, North, Employers, Apple, Deloitte Locations: North, Wall, Silicon, Asia, Pacific, Europe, Washington

☆ It should be easier now for student borrowers to apply for public service loan forgiveness. Here's why
▼ + stars: | 2023-08-28 | by ( Annie Nova | ) www.cnbc.com time to read: +2 min

Drazen Zigic | Istock | Getty ImagesNavigating the Public Service Loan Forgiveness Program has been famously difficult. Fortunately, student loan borrowers may find that the process is getting a little easier. watch nowOnce the process is complete, the form should automatically be delivered to the Missouri Higher Education Loan Authority (MOHELA). That's the student loan servicer that currently handles PSLF borrowers (previously FedLoan did so). Try to fill out this form at least once a year, Kantrowitz added, and keep records of your confirmed qualifying payments.

Persons: Drazen Zigic, Mark Kantrowitz, George W, Bush, you've, servicer, Kantrowitz Organizations: Istock, Getty, Public, U.S . Department of Education, Consumer Financial, Bureau, Missouri Higher Education Loan Authority, Education Department Locations: Missouri

☆ It's become harder for middle-class workers to give their kids a better life. Unions could help turn that around, a new Treasury report finds.
▼ + stars: | 2023-08-28 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

The report found that union workers make more than their nonunion peers and have more benefits. AdvertisementAdvertisement"The decline in intergenerational mobility may be the single trend that best encapsulates the pervasive sense of the deterioration in the middle class," the Treasury report found. AdvertisementAdvertisementThe Treasury report found that union workers make 10% to 15% more than nonunionized colleagues. That's one economic factor that could give union workers — who are more likely to be considered middle class — a boost. "For generations, union workers have fought for and won higher wages, better benefits, and safer working conditions for millions of American workers," Vice President Kamala Harris said.

Persons: Biden, Treasury Department —, Janet Yellen, Yellen, —, Kamala Harris Organizations: Treasury, Service, Treasury Department, Pew Research Center, Labor Locations: Wall, Silicon

☆ Women Face Age Discrimination at Every Age, According to a New Study
▼ + stars: | 2023-08-28 | by ( Kelli María Korducki | ) www.businessinsider.com time to read: +12 min

But she was taken aback by the extent to which middle-aged women like O'Neill reported experiencing age-related discrimination at work. "When men get to their 40s or 50s, they're considered to be in the prime of their careers," Diehl told me. In one 2019 poll of 400 US workers ages 40 and older, more men than women reported experiencing or witnessing age discrimination on the job. Research has also found that older job seekers face age discrimination regardless of gender, despite a 56-year-old federal law that purportedly protects against older-age discrimination in employment. It's undeniable that workplace age discrimination occurs across gender lines, but the qualitative experiences surfaced by Diehl, Stephenson, and Dzubinski help paint a picture of how an open culture around age discrimination can ultimately end up fueling good, old-fashioned sexism.

Persons: Julie O'Neill, O'Neill, Julie, WCPO, —, ageism, pats, Amy Diehl, wasn't, they're, Diehl, It's, Amber L, Stephenson, Leanne, dory, she'd, Kelli María Korducki Organizations: Cincinnati Bengals, Harvard Business, Companies, Research Locations: COVID, midlife, Cincinnati, WCPO, New York City

☆ Employee Discrimination: Women of All Ages Face Sexism at Work
▼ + stars: | 2023-08-28 | by ( Kelli María Korducki | ) www.businessinsider.com time to read: +12 min

☆ US Commerce chief seeks trade, tourism boost in China talks
▼ + stars: | 2023-08-27 | by ( David Shepardson | ) www.reuters.com time to read: +5 min

[1/4] U.S. Commerce Secretary Gina Raimondo, shakes hands with Lin Feng, Director General of China Ministry of Commerce as U.S. Republicans in Congress have criticized the possibilityRaimondo will establish a working group with China during the visit to discuss U.S. semiconductor export controls. China's ambassador to the United States, Xie Feng, who met Raimondo last week, said China seeks "mutual respect, peaceful coexistence and win-win cooperation". 'MANY CHALLENGES'Raimondo, the fourth high-level U.S. official to visit China recently, is the first commerce secretary to make the trip in seven years. China and the United States agreed this month to double the number of flights permitted between them - still a fraction of the number before the pandemic.

Persons: Gina Raimondo, Lin Feng, China Nick Burns, Andy Wong, Raimondo, I'm, Mintz, " Raimondo, China Nicholas Burns, Joe Biden, Xie Feng, Wendy Cutler, Xi Jinping, Walt Disney, David Shepardson, Michael Martina, Robert Birsel, Bill Berkrot Organizations: . Commerce, China Ministry of Commerce, Beijing Capital International Airport, REUTERS Acquire, Rights, Micron Technology, U.S, Chinese Commerce Ministry, Republicans, Asia Society Policy Institute, United, Walt, Shendi Group, Reuters, Boeing, Thomson Locations: China, Beijing, Rights BEIJING, United States, Shanghai, America, U.S, Washington

☆ Watch Fed Chair Powell speak live from Jackson Hole symposium
▼ + stars: | 2023-08-25 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

[The stream is slated to start at 10:05 ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chair Jerome Powell is delivering his annual address at the central bank's Jackson Hole, Wyo., symposium Friday morning. A year ago, Powell emphasized that the Fed was committed to bringing down inflation and cautioned that "some pain" was likely for the economy. Markets have been volatile leading up to the speech, and traders are pricing in a slightly better than even probability that the Fed has one more rate hike in store this year.

Persons: Jerome Powell, Powell, Read Organizations: CNBC, YouTube

☆ 66% of Americans want European-style vacation policies, like being OOO for the entire month of August
▼ + stars: | 2023-08-25 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +2 min

Some 66% of U.S. workers say companies should adopt extended vacation policies, like a month off in August, in their workplaces, according to a Morning Consult survey of 1,047 U.S. adults. Several countries offer even more by law before paid public holidays come into play, which can add up to more than a month of business days in vacation time per year. But not all U.S. workers say they'd welcome longer vacation policies: 21% of Americans say companies should not adopt extended PTO policies in their workplace, while the remaining respondents say they don't know or don't have an opinion. The survey didn't specifically address the concerns of those against extended time off work, says Ellyn Briggs, brands analyst at Morning Consult. Check out: 28-year-old social media manager in Norway is required to take 3 weeks of vacation in summer

Persons: Ellyn Briggs, Briggs, Warren Buffett Organizations: European Union, European, Morning Locations: Europe, European, Norway

The American workers who have had their careers upended by automation in recent decades have largely been less educated, especially men working in manufacturing. But the new kind of automation — artificial intelligence systems called large language models, like ChatGPT and Google’s Bard — is changing that. The jobs most exposed to automation now are office jobs, those that require more cognitive skills, creativity and high levels of education. The workers affected are likelier to be highly paid, and slightly likelier to be women, a variety of research has found. In a majority of jobs, the models could do some of the tasks, found the analyses, including from Pew Research Center and Goldman Sachs.

Persons: Bard —, “ It’s, ”, Erik Brynjolfsson, Goldman Sachs Organizations: Stanford Institute for, Labor, Pew Research Center

☆ TSMC's Arizona plant is delayed over poor management, not a shortage of US skilled labor, workers building it say
▼ + stars: | 2023-08-23 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +11 min

TSMC, however, has maintained that the incoming Taiwanese workers will not be a threat to US jobs. The pipe cutter said that TSMC and its key contractors were largely to blame for the management problems. After complaining about one safety issue for two straight weeks, he said, he spoke with a company safety representative. And then you go to degown, and they don't have your hanger or somebody took your hanger," the pipe cutter said. He added: "It's not like we're against the Taiwanese workers or anything.

Persons: TSMC, they're, it's, didn't, he's, —, they'd, they've, Everyone's, we're, It's, Luke Kasper, Arizona Organizations: Service, Taiwan Semiconductor Manufacturing, Arizona Pipe, Intel, New York Times, Times, American Prospect, TSMC Locations: Arizona, Wall, Silicon, chipmaker, TSMC, Taiwan, United States, degown

☆ NY Fed finds record wage expectations in July consumer survey
▼ + stars: | 2023-08-21 | by ( Michael S. Derby | ) www.reuters.com time to read: +3 min

People walk by the Federal Reserve Bank of New York in the financial district of New York City, U.S., June 14, 2023. Meanwhile, respondents to the bank’s Survey of Consumer Expectations said that the lowest wage they’d accept to take a job also jumped, hitting a record $78,645, from $72,873 a year ago. The survey said that survey respondents said that in July the average wage offered for a full-time job was $69,475 versus $60,764 in July 2022. The jump in compensation, actual and expected, came even as poll respondents saw some softening around the edges of the job market. The New York Fed reports on labor market expectations quarterly as part of a data series best known for tracking the expected path of inflation and household financial situations.

Persons: Shannon Stapleton, they’re, there’s, they’d, “, Michael S, Chizu Organizations: Federal Reserve Bank of New, REUTERS, bank’s Survey, Consumer Expectations, New York Fed, Cleveland Fed, Thomson Locations: Federal Reserve Bank of New York, New York City, U.S, Jackson Hole , Wyoming

☆ American workers are demanding almost $80,000 a year to take a new job
▼ + stars: | 2023-08-21 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

The amount of money most workers want now to accept a job reached a record high this year, a sign that inflation is alive and well at least in the labor market. Over the past three years, which entails the Covid-19 pandemic era, the level has risen more than 22%. Though there was a gap between the wage workers wanted and what was offered, satisfaction with compensation and upward mobility increased across the board. Job seekers, or those who have looked for work in the previous four weeks, declined to 19.4% from 24.7% a year ago. That came as job openings fell 738,000 to 9.58 million, according to the U.S. Bureau of Labor Statistics.

Organizations: New, Federal, New York Fed, Atlanta Fed, Employers, U.S . Bureau of Labor Statistics

☆ 9 European countries where workers get more than a month of paid vacation
▼ + stars: | 2023-08-18 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +2 min

Nationally, the average American gets 10 vacation days — all public holidays like Memorial Day and Thanksgiving — after a year of service. Several countries offer even more by law, giving workers more than a month of business days in vacation time per year. Here are nine European countries that give workers more than a month of paid vacations a year, according to the Organization for Economic Cooperation and Development:France: 30 days of paid vacation per yearUnited Kingdom: 28 days of paid vacation per yearAustria: 25 days of paid vacation per yearDenmark: 25 days of paid vacation per yearFinland: 25 days of paid vacation per yearNorway: 25 days of paid vacation per yearSpain: 25 days of paid vacation per yearSweden: 25 days of paid vacation per yearPortugal: 22 days of paid vacation per yearGiven the culture of rest prioritized around Europe, many workers get even more days off from their company. While Swedes are guaranteed 25 paid vacation days by law, her employer adds a few extra days to bring her up to 30 paid vacation days a year. In Norway, Lene Vindenes, 28, gets 25 paid vacation days per year, and her company requires her to take three weeks of vacation during the summer between June and August.

Persons: Kimberly Sorce, Lene Vindenes, Warren Buffett Organizations: European, Organization for Economic Cooperation, Development Locations: U.S, Europe, Spain, France, United Kingdom, Austria, Denmark, Finland, Norway, Sweden, Portugal, New Jersey

☆ Detroit's Big 3 automakers are headed for a clash with their workers' union as they gear up for another contentious contract negotiation
▼ + stars: | 2023-08-16 | by ( Nora Naughton | ) www.businessinsider.com time to read: +7 min

The United Auto Workers union is negotiating new four-year contracts with Ford, GM, and Stellantis. UAW President Shawn Fain isn't ruling out a strike, potentially at more than one company. The White House has weighed in as the automotive industry's labor union, the United Auto Workers, is gearing up for a fight with Detroit's Big Three car companies this summer and fall. The average labor costs for the Detroit Three heading into contract talks four years ago hovered between $55 and $60 per hour. Correction: July 27, 2023 — An earlier version of this story incorrectly said workers at GM's Ultium plant were not represented by a Union.

Persons: Shawn Fain isn't, Detroit's, Joe Biden, Biden, Ford, Shawn Fain, He's, Fain, Biden's, John Deere, Tesla Organizations: United Auto Workers, Ford, GM, Detroit, UAW, Morning, Chrysler, Jeep, Facebook, University of California, EV, Lordstown, Labor, Center for Automotive Research, Union Locations: Tennessee

☆ The world's largest chipmaker promised to create thousands of US jobs. There are growing tensions over whether US workers have the skills or work ethic to do them.
▼ + stars: | 2023-08-16 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

Differences in US and Taiwanese work culture could pose another challenge. Some TSMC workers are doubtful that Americans can adjust to the challenging work environment. It's not just a disagreement over expertise that poses risks to TSMC's Arizona chip plant. This is the work culture." It added: "We have not replaced any of our local workers with foreign workers and continue to prioritize the hiring of local workers in Arizona."

Persons: TSMC, chipmaker, It's, Morris Chang, Wayne Chiu, Fortune, they're, Mark Liu, TSMC's, Liu, chipmaker Chang, Adam Ozimek Organizations: Service, Taiwan Semiconductor Manufacturing Co, New York Times, Times, YouTube, Taiwan, Taiwan —, Brookings Institute, Arizona Pipe, Economic Innovation Group Locations: Arizona, Wall, Silicon, Taiwan, Taipei, Taiwanese, Asia, Oregon, America, Phoenix

☆ In Wisconsin, Biden Attacks a Far-Right Senator but Avoids Trump Talk
▼ + stars: | 2023-08-15 | by ( Reid J. Epstein | More About Reid J. Epstein | ) www.nytimes.com time to read: +1 min

A week before Republicans visit Milwaukee for their first debate of the 2024 campaign, President Biden traveled to the city on Tuesday and attacked not former President Donald J. Trump or his Republican primary rivals, but Senator Ron Johnson of Wisconsin. Mr. Biden spent several minutes contrasting his political record with that of Mr. Johnson, a Republican who has long expressed skepticism about government investment in local manufacturing jobs. “Ron Johnson, he believes outsourcing jobs is a great thing,” Mr. Biden said. “He doesn’t think American workers should manufacture products that require a lot of labor.”Mr. Biden’s sustained attack on Mr. Johnson, who won re-election last year to a third term that won’t end until 2029, served as a stand-in for an attack on Mr. Trump. The indictment on Monday of Mr. Trump in Georgia, the fourth brought against the former president, loomed heavy over the effort by the White House and the Biden campaign to promote his economic agenda, which they have taken to calling “Bidenomics.”

Persons: Biden, Donald J, Trump, Ron Johnson, Mr, Johnson, “ Ron Johnson, Biden’s, “ Bidenomics, ” Organizations: Republicans, Milwaukee, Republican, White Locations: Ron Johnson of Wisconsin, Georgia

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