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☆ ‘The sky is not falling’: US economy added 142,000 jobs in August
▼ + stars: | 2024-09-06 | by ( Alicia Wallace | ) edition.cnn.com time to read: +6 min

Economists were expecting a net gain of 160,000 jobs and for the unemployment rate to fall to 4.2%, according to FactSet consensus estimates. With inflation pretty much tamed and moderating as expected, the Federal Reserve has turned its focus to the labor market (the other part of its dual mandate). Job growth has been slowing, but there were indications that the labor market was weakening under the weight of 23-year-high interest rates. A ‘place of stability’July’s shockingly weak jobs report stoked fears that the jobs market was collapsing, potentially taking the economy into a downturn. And while a rate cut is coming, the jury is still out on the exact size of that move.

Persons: ” Eugenio Alemán, Raymond James, August’s, We’re, Rachel Sederberg, “, Becky Frankiewicz, ’, ”, Kory Kantenga, —, ” Kantenga, Michelle Holder, haven’t Organizations: CNN, Employers, Bureau of Labor Statistics, Federal Reserve, Fed, ManpowerGroup, Retail, Americas, LinkedIn, John Jay College, City University of New Locations: ManpowerGroup North America, Michigan, City University of New York

☆ Job growth totals 114,000 in July, much less than expected, as unemployment rate rises to 4.3%
▼ + stars: | 2024-08-02 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Job growth in the U.S. slowed much more than expected during July and the unemployment rate ticked higher, the Labor Department reported Friday. The unemployment rate edged higher to 4.3%, its highest since October 2021. "Temperatures might be hot around the country, but there's no summer heatwave for the job market," said Becky Frankiewicz, president of the Manpower Group employment agency. From a sector standpoint, health care again led in job creation, adding 55,000 to payrolls. The labor force also contracted by 214,000, though the participation rate as a share of the working-age population actually edged higher to 62.7%.

Persons: Nonfarm payrolls, Dow Jones, Becky Frankiewicz Organizations: Labor Department, Stock, Manpower Group Locations: U.S

The year opened with a bang as employers added 353,000 jobs in January, far exceeding the most optimistic of forecasts. Revisions also raised the November job number to 182,000 and also added 117,000 more jobs to December. “The labor market is certainly cooling,” Brent Schutte, chief investment officer at Northwestern Mutual Wealth Management, said ahead of the report. “I think the labor market by many measures is at or nearing normal, but not totally back to normal,” Powell told reporters. But it is hard to contain the enthusiasm that a strong jobs report along with moderating inflation is good for most Americans.

Persons: “, ”, Becky Frankiewicz, isn’t, ” “ We’re, December’s downwardly, ” Brent Schutte, seasonality, Amy Glaser, Glaser, Chris Todd, ” Todd, Jerome Powell, ” Powell, “ It’s, Julia Pollak, ” Schutte Organizations: ADP, Northwestern Mutual Wealth Management, Adecco, BLS, Federal Reserve, Federal

☆ What the global elite are saying about AI behind closed doors
▼ + stars: | 2024-01-19 | by ( Matt Turner | ) www.businessinsider.com time to read: +8 min

AdvertisementThe annual World Economic Forum just wrapped up in Davos, Switzerland, and talk of artificial intelligence was just about everywhere. AdvertisementPlenty of companies touted their AI wares at the World Economic Forum in Davos this year. Related storiesAt Automation Anywhere, which, as its name suggests, works on automating work, the customer-service team shrank when AI was implemented. Others I spoke to agreed: Many businesses have small-scale AI experiments running, often with promising results so far. These AI projects are expensive, and not every company has the financial or human capital to pursue an ambitious AI strategy.

Persons: Matt Turner, —, Sam Altman, Rob Goldstein, copilots, Jason Girzadas, he'd, Oliver Wyman, Deb Cupp, Mihir Shukla, Ana Kreacic, Shukla, Becky Frankiewicz, Lareina Yee, WEF, Satish H.C, Mustafa Suleyman, DeepMind, Kapilashram, Azeem Azhar, Dan Vahdat Organizations: Economic, Service, Tech, Infosys, IBM, Builder.ai, Cisco, Qualcomm, Salesforce, BlackRock, Deloitte, Microsoft, Oliver Wyman Group, Standard Chartered, McKinsey, Huma Therapeutics Locations: Davos, Switzerland

☆ What to expect from the jobs report: Steady, but cooler growth
▼ + stars: | 2023-08-04 | by ( Alicia Wallace | ) edition.cnn.com time to read: +8 min

But markets and economists are expecting another solid jobs report Friday morning. And while economic data isn’t typically the sexiest of topics, the government’s jobs report has in recent months delivered plenty of excitement and its fair share of surprises. Last July, for example, the US economy added 568,000 jobs — more than double the 250,000 that economists had expected. Come Friday, the government’s jobs report for this July might not end up being quite so shocking. In fact, it could be relatively humdrum: A slight cooling in job growth, and unemployment holding steady.

Persons: Minneapolis CNN — Fitch, ”, Daniel Zhao, Refinitiv, Chris Rupkey, That’s, Michael Gapen, Janet Yellen, Glassdoor’s Zhao, ” Zhao, there’s, ” Andy Challenger, Challenger, ” Gus Faucher, they’re, Becky Frankiewicz, “ Organizations: Minneapolis CNN, Glassdoor, Bank of America, ” Bank of America, Business, Conference Board, Fitch, Challenger, “ Companies, Labor Department, “, PNC Financial Services Group, CNN, Labor Statistics, BLS, “ Employers, ManpowerGroup Locations: Minneapolis, United States

☆ What to expect from the July jobs report: Steady, but cooler growth
▼ + stars: | 2023-08-03 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

Minneapolis CNN —Despite Tuesday’s credit rating downgrade amid concerns about the challenges facing the United States, markets and economists are expecting another solid jobs report on Friday. And while economic data isn’t typically the sexiest of topics, the monthly jobs report has in recent months delivered plenty of excitement and its fair share of surprises. Come Friday, the government’s jobs report for this July might not end up being quite so shocking. In fact, it could be relatively humdrum: A slight cooling in job growth, and unemployment holding steady. The broader economic scorecard for the United States makes the downgrade all the more “bizarre” and puzzling, noted top economists, including Treasury Secretary Janet Yellen.

Persons: ”, Daniel Zhao, Refinitiv, Chris Rupkey, That’s, Michael Gapen, Janet Yellen, Glassdoor’s Zhao, ” Zhao, there’s, ” Andy Challenger, Challenger, Gus Faucher, they’re, Becky Frankiewicz, “ Organizations: Minneapolis CNN, Glassdoor, Bank of America, ” Bank of America, Fitch, Challenger, “ Companies, PNC Financial Services Group, CNN, Labor Statistics, BLS, “ Employers, ManpowerGroup Locations: Minneapolis, United States

☆ Remote and hybrid jobs are making a comeback—businesses have a 'requirement to be flexible,' says expert
▼ + stars: | 2023-07-17 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +3 min

But there's one indication that things are tilting back toward worker flexibility: an uptick in remote and hybrid jobs. All industries are offering more remote or hybrid roles month-over-month, according to ManpowerGroup data. In the tech sector, 34% of open roles in May allowed for remote or hybrid flexibility — by June, that share reached 40%. Nationally, just 11% of open jobs on LinkedIn are remote, but they attract close to 50% of total job applications as of May. Check out: Remote workers flocked to 'Zoom towns' during Covid—now they're competing to stay work-from-home

Persons: Becky Frankiewicz, Frankiewicz, we're, Kelly Evans, Covid — Organizations: LinkedIn, Workers

☆ The US labor market cooled off in June, adding just 209,000 jobs
▼ + stars: | 2023-07-07 | by ( Alicia Wallace | ) edition.cnn.com time to read: +4 min

Minneapolis CNN —The US job market cooled back down in June, adding just 209,000 jobs, and fueling optimism that the economy is on course to nail that elusive soft landing of lowering inflation without triggering a recession. That being said, last month’s job growth still outpaces the pre-pandemic average. “The job growth is slowing, but I don’t actually think that’s necessarily a bad thing,” Rucha Vankudre, senior economist for labor market analytics company Lightcast, told CNN. “In the tug of war between the labor market and the economy, there is still a push and pull, yet the labor market remains strong,” Becky Frankiewicz, president and chief commercial officer of ManpowerGroup, said in commentary issued Friday. In June, sectors such as government, as well as health care and social assistance, saw the biggest job gains: 60,000 and 65,200, respectively.

Persons: Rucha Vankudre, We’re, Becky Frankiewicz, ManpowerGroup, “, Lightcast’s Vankudre, ” “, Joe Brusuelas, ” Brusuelas, “ We’re, ” Organizations: Minneapolis CNN, Bureau of Labor Statistics, CNN, “, Federal Reserve, Service, BLS, RSM, Fed Locations: Minneapolis

☆ Payrolls rose 339,000 in May, much better than expected in resilient labor market
▼ + stars: | 2023-06-02 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

watch nowThe U.S. economy continued to crank out jobs in May, with nonfarm payrolls surging more than expected despite multiple headwinds, the Labor Department reported Friday. Payrolls in the public and private sector increased by 339,000 for the month, better than the 190,000 Dow Jones estimate and marking the 29th straight month of positive job growth. The unemployment rate rose to 3.7% in May against the estimate for 3.5%, even though the labor force participation rate was unchanged. "The U.S. labor market continues to demonstrate grit amid chaos – from inflation to high-profile layoffs and rising gas prices," said Becky Frankiewicz, president and chief commercial officer of Manpower Group. "With 339,000 job openings, we're still rewriting the rule book and the U.S. labor market continues to defy historical definitions."

Persons: nonfarm, Payrolls, Dow Jones, Becky Frankiewicz Organizations: Labor Department, Dow, Dow Jones, Treasury, Manpower Group, Government Locations: U.S

☆ 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.

☆ We spoke with more than 50 CEOs, billionaires, execs, and government officials in Davos. Here are our 4 biggest takeaways.
▼ + stars: | 2023-01-25 | by ( Matt Turner | Cadie Thompson | ) www.businessinsider.com time to read: +10 min

Insider's Matt Turner and Cadie Thompson share their biggest takeaways from the World Economic Forum. More than 1,500 business leaders descended on Davos in the Swiss Alps last week for the World Economic Forum's annual meeting. The week of Davos, Alphabet published an explainer on its approach to AI signed by execs including CEO Sundar Pichai. "With every technology, there is good and then there's bad," Rima Qureshi, Verizon's chief strategy officer, told Insider. Several of those who spoke with Insider highlighted the need for much-greater collaboration among companies — and a willingness to experiment.

☆ 'Transformative, fascinating': Here's what top executives at Davos are saying about ChatGPT
▼ + stars: | 2023-01-18 | by ( Cadie Thompson | Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Buzzy AI chatbot, ChatGPT, has only been open to the public for a few weeks. Here's what top executives are saying about the technology at the World Economic Forum. Here's what top executives have been saying:Jeff Maggioncalda, Coursera CEOCoursera's CEO said ChatGPT is a mind-blowing "game changer" in an interview with Insider. Peggy Johnson, Magic Leap CEOJohnson told Insider she thought ChatGPT was "definitely a transformative technology." Becky Frankiewicz, ManpowerGroup CCO and presidentFrankiewicz said the chatbot was "super fascinating" and she had been experimenting with it to write job descriptions.

☆ Here's what top executives at Davos are saying about a recession. Many can see silver linings.
▼ + stars: | 2023-01-18 | by ( Ryan Hogg | Cadie Thompson | ) www.businessinsider.com time to read: +5 min

Executives at Davos weighed in on the likelihood and severity of a recession in 2023. Most expect the US to have a shallow recession, but Europe and elsewhere could be hit harder. I think there's going to be a lot of uncertainty. "And that means it's time to really think about hunkering down and focusing on what's important, and really focusing on the fundamentals, which is what we are doing within the company." We will do better if there's a recession – at least if there's a recession with unemployment."

☆ Here are 3 things you should do immediately if you get laid off
▼ + stars: | 2023-01-17 | by ( Sarah Jackson | Cadie Thompson | ) www.businessinsider.com time to read: +3 min

If you're laid off, you can take some steps immediately to boost your chances of finding another job soon. With concerns of a recession on the horizon, laid-off workers should take steps immediately to get back on their feet and find another job quickly. Focus on skills in your resumeWhen revamping your resume, zero in on the transferrable skills you have. "It's really important to refresh your resume and make sure that it reflects the skills, not the jobs, that you've had," said Frankiewicz. "Employers are increasingly looking for skills: learnability, adaptability, agility, curiosity, communication skills — bring those things forward.

☆ Lower US job gain in August could help the Fed's inflation fight
▼ + stars: | 2022-09-02 | by ( Christopher S. Rugaber | Associated Press | ) www.nbcnews.com time to read: +7 min

WASHINGTON (AP) — America’s employers added a healthy number of jobs last month, yet slowed their hiring enough to potentially help the Federal Reserve in its fight to reduce raging inflation. Inflation did fall to an 8.5% annual rate in July from 9.1% in June, mostly as gas prices steadily dropped. Wage growth weakened a bit last month, too, which could also serve the Fed’s inflation fight. Powell warned that the Fed’s inflation fight would likely cause pain for Americans in the form of a weaker economy and job losses. Friday’s jobs figures and a report earlier this week that showed the number of job openings rose in July suggest that the Fed’s rate hikes so far haven’t restored much balance.

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