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☆ Prince Andrew's future is murkier than ever. But the royals may never fully cut ties.
▼ + stars: | 2024-10-19 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +7 min

Prince Andrew's "Newsnight" interview has been depicted in a new series. AdvertisementThe public may not completely forgive Prince Andrew's controversies – but the royal family might, according to royal experts. AdvertisementSchofield said the institution is unlikely to ever fully reject Prince Andrew. However, she noted that his involvement in family events could be scaled back when Prince William ascends the throne. "Prince William is incredibly intelligent and recognizes that you are only as strong as your weakest member.

Persons: Prince Andrew's, Duke, York, Jeffrey Epstein, Andrew, —, Prince, Kinsey Schofield, he'd, Andrew's, Prince Andrew, Gillian Anderson, Rufus Sewell, Billie Piper, Sam McAlister, Emily Maitlis, Ruth Wilson, Michael Sheen, Epstein, Ghislaine Maxwell, Epstein's, Virginia Roberts Giuffre, Maxwell, Maitlis, King Charles, King Charles and Prince William, Princess Beatrice, Princess Eugenie, Kristien, Sovereign Grant, Richard Fitzwilliams, Sarah Ferguson, it's, Ferguson, MailOnline, Victoria, Schofield, Prince William, King William, William, Kate, Prince Harry —, Buckingham Organizations: Service, BBC, YouTube, Netflix, Amazon, Palace, International Trade, Investment, KPMG, Standard Chartered, Cisco, BBC News, Sovereign, Telegraph Locations: Windsor, Porta

☆ Big 4 giant EY delayed start dates for some new hires for the 2nd consecutive year
▼ + stars: | 2024-10-14 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

EY has delayed start dates for some of its new hires for a second consecutive year. The consulting giant said the move reflected "the current M&A environment and our business needs." AdvertisementThe accounting and consultancy giant EY has delayed the start of jobs for some of its new hires amid an industry slowdown. It's the second year running that the Big Four firm has delayed start dates for new hires. EY pushed back start dates twice in 2023 and also made at least 300 job cuts in its advisory wing.

Persons: EY, — Organizations: Service, Financial Times, Big, Deloitte, PwC, KPMG, Global

Valued at $4 billion in 2021, Cerebras is reportedly seeking to roughly double that in its IPO. The customer, G42, is backed by Microsoft , and it's entirely responsible for the $1.43 billion purchase commitment. G42 can pick up $500 million more in Cerebras shares if it commits to spend $5 billion on the company's computing clusters. The major Wall Street banks, for their part, are finding other ways to play in the burgeoning AI infrastructure market. Fitch, who said he sold out of his Nvidia stock years ago, told CNBC that the benefits outweigh the risks.

Persons: Andrew Feldman, Ramsey Cardy, Cerebras, —, David Golden, it's, prepayment, CFIUS, Mike Gallagher, Gina Raimondo, Goldman Sachs, Morgan Stanley, JPMorgan Chase, Young, There's, Peter Thiel, Eva Marie Uzcategui, there's, Thiel, Jim Fitch, Fitch, Feldman Organizations: Cerebras Systems, Nvidia, Revolution Ventures, JPMorgan Chase, Microsoft, AstraZeneca, GlaxoSmithKline, Mayo Clinic, Treasury, Foreign Investment, Reuters, Chinese Communist Party, JPMorgan, Citigroup, Barclays, BDO, KPMG, Deloitte, Ernst, Riverstone Networks, CoreWeave, Clarium Capital Management LLC, Bloomberg, Getty, Mizuho Securities, Venture, CNBC, Devices Locations: Toronto, U.S, Sunnyvale , California, Abu Dhabi, China, Miami , Florida, Los Angeles, Florida

☆ OpenAI's AI-adjusted earnings numbers have echoes of Groupon and WeWork
▼ + stars: | 2024-10-11 | by ( Alistair Barr | ) www.businessinsider.com time to read: +6 min

Is it OK for an AI company to exclude the cost of training its AI models when it reports earnings? Related storiesFor an AI company like OpenAI, training models will be an ongoing process. The world is constantly evolving, and new data is being generated, which will have to be incorporated into AI models' understanding. Let's call it "AI adjusted earnings" for an AI company. They are a private company," McKenna said.

Persons: we've, Francine McKenna, McKenna, OpenAI, It's, Groupon, WeWork Organizations: Google, Facebook, MarketWatch, Revenue, Big Tech, KPMG Consulting, SAP, Oracle, Securities, Exchange Commission, SEC Locations: It's

☆ 'Not at all surprised' that Bostic is more hawkish, says KPMG's Diane Swonk
▼ + stars: | 2024-10-10 | 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 Email'Not at all surprised' that Bostic is more hawkish, says KPMG's Diane SwonkDiane Swonk, chief economist at KPMG, and CNBC’s Steve Liesman, join 'The Exchange' to discuss the economic impact of Hurricane Milton, macro outlooks, and more.

Persons: Diane Swonk Diane Swonk, Steve Liesman Organizations: KPMG Locations: Hurricane Milton

☆ UK Prime Minister Keir Starmer attempts government reset less than 100 days into office
▼ + stars: | 2024-10-07 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +4 min

Britain's Prime Minister Keir Starmer speaks at a press conference, during his visit to the European Commission headquarters on October 2, 2024 in Brussels, Belgium. LONDON — British Prime Minister Keir Starmer is seeking to reset his government and recover from a shaky first 100 days in office beset by policy misfires, doom mongering and a "freebie" scandal. "A challenge for the prime minister lies in the fact No. Keir Starmer now needs to show he's got control," he added. Former Finance Minister Jeremy Hunt has denied the claims as "fictitious."

Persons: Keir Starmer, Starmer, Sue Gray, Gray, Morgan McSweeney, Downing, James Lyons, Phillip Blond, thinktank, Tony Travers, Travers, he's, Rachel Reeves, Reeves, Jeremy Hunt Organizations: Britain's, European Commission, LONDON, Labour, CNBC, London School of Economics, Labour Party, Conservative, Treasury, Conservative Party, Former, Citi, KPMG, Employment Locations: Brussels, Belgium, TikTok, Ukraine

"The trend was inevitable," said Teresa Ghilarducci, professor of economics at The New School for Social Research in New York. "The lack of affordable childcare may be playing a role," according to Richard Fry, a senior researcher at Pew. "The childcare crisis, which was simmering prior to the pandemic, has come to a boil," according to a KPMG analysis. A study by the Pew Research Center found that men who are not college-educated leave the workforce at higher rates than men who are. "When you don't get rewarded for working, you work less," Fry said.

Persons: Teresa Ghilarducci, Richard Fry, —, Pew's Fry, Fry Organizations: Federal Reserve, The New School for Social Research, Pew Research Center, Pew, KPMG Locations: New York

☆ What a resurgence in Wall Street dealmaking means for Morgan Stanley and Wells Fargo
▼ + stars: | 2024-10-02 | by ( Morgan Chittum | ) www.cnbc.com time to read: +8 min

Great news for Club stocks Wells Fargo and Morgan Stanley : The rebound in investment banking isn't over yet. We'll find out to what extent when Wells Fargo reports earnings on Oct. 11 and Morgan Stanley delivers quarterly results on Oct. 16. MS YTD mountain Morgan Stanley (MS) year-to-date performance For Morgan Stanley, a resurgence in its investment banking division is crucial to our investment thesis and why we stuck with it. WFC YTD mountain Wells Fargo (WFC) year-to-date Morgan Stanley's IB business is much larger than Wells Fargo's. Wells Fargo, which has a strong wealth management franchise, is branching out to take a slice of the IB pie.

Persons: Morgan Stanley, We'll, Wells, Jerome Powell, Powell, Rebecca Brokmeier, Brokmeier, Morgan, Jim Cramer, Goldman Sachs, underperformance, Dan Simkowitz, Jim, We've, Charlie Scharf, Jim Cramer's, William McChesney Martin Jr, Anna Moneymaker Organizations: Club, Wells, Federal Reserve, Wall, P Global Market Intelligence, KPMG, Global, Fed, National Association for Business, CNBC, Morgan Stanley's IB, IB, Bloomberg News, Federal, Getty Locations: U.S, Nashville , Tennessee, Wells, Wells Fargo, Washington , DC

☆ CEOs who insist workers return to the office are living in an 'echo chamber,' a future of work expert says
▼ + stars: | 2024-09-29 | by ( Polly Thompson | ) www.businessinsider.com time to read: +6 min

But CEOs are increasingly demanding workers be in the office five days a week. AdvertisementMost workers understood that the days of fully remote work ended with the pandemic and that they should show face in the office some of the time. This month Amazon CEO Andy Jassy announced that all corporate staff must be back in the office five days a week from 2025. Thos Robinson/Getty ImagesWorsening that echo chamber structure is the fact that CEOs are "largely white men," Schulte said. Public policy is another route that will play a role in the future of how we work, Schulte added.

Persons: Brigid Schulte, —, Andy Jassy, Jassy, Dell execs, Schulte, Thos Robinson, it's, COVID, that's, It's Organizations: BI, Service, Dell, KPMG US, KPMG, Getty, aha

☆ For Wall Street deal makers, the billion-dollar bangers are back
▼ + stars: | 2024-09-27 | by ( Jeffrey Cane | ) www.businessinsider.com time to read: +4 min

Deals valued at $1 billion-plus worldwide are up 22% from a year ago, LSEG data shows. Wall Street executives have been bullish about the burgeoning pipeline for deals. AdvertisementFor Wall Street deal makers, the billion-dollar bangers are back. So what has revived what Wall Street refers to as the "animal spirits," at least when it comes to bigger targets? Other Wall Street bank chieftains, like Ted Pick of Morgan Stanley and Peter Orszag of Lazard, have been bullish about the M&A pipeline.

Persons: —, Mars, David Solomon, Goldman Sachs, Solomon, we've, AlphaSense, Ted Pick, Morgan Stanley, Peter Orszag, Hernan Cristerna Organizations: Verizon, Qualcomm, Wall Street, Service, Paramount Global, CBS, Nickelodeon, Verizon Communications, Frontier Communications, Intel, Wall, Lazard, KPMG, Bloomberg Locations: Ukraine

☆ Here’s how Trump says he’ll help US businesses through tariffs and taxes
▼ + stars: | 2024-09-24 | by ( Tami Luhby | Katie Lobosco | ) edition.cnn.com time to read: +9 min

Trump’s promised business tax cuts come alongside his suite of targeted tax relief for individuals, a list that continues to grow. Trump used tariffs, in part, to help boost American manufacturing. Reducing the corporate tax rateTrump has long wanted to reduce the corporate tax rate to below 21%. It will force owners of successful companies to sell their businesses to raise the cash to pay the tax, Trump said. Notably, the tax cut law temporarily created a special deduction for the owners of certain pass-through entities who pay business taxes on their individual tax returns.

Persons: Donald Trump, we’re, ” Trump, Trump, Kamala Harris, Joe Biden’s, Trump’s, ” John Murphy, Biden, ”, John Gimigliano, “, Harris, CNN’s Kate Sullivan Organizations: CNN, Trump, Democratic, Social Security, Republicans, Tax Foundation, China Business, Federal Reserve, US Chamber of Commerce, Economic, of New, KPMG Locations: Savannah , Georgia, America, Mexico, United States, American, of New York, Savannah

Anna Sebastian Perayil died in July, four months after joining the Pune office of Ernst & Young, one of the “Big Four” accounting firms. In a LinkedIn post on Thursday, Ernst & Young India chairman Rajiv Memani acknowledged Augustine’s letter and said he was “deeply saddened” by what had happened. “This is a systemic issue that goes beyond individual managers or teams,” Augustine wrote. So for many on social media, Perayil’s death was also an indictment of the broader work culture in India, where young job seekers face fierce competition. “Like many in her position, she did not have the experience or the agency to draw boundaries or push back against unreasonable demands,” Augustine wrote.

Persons: Anna Sebastian Perayil, Ernst & Young, Anita Augustine, “, ” Augustine, ”, Young, Ernst, Rajiv Memani, ” Memani, Shobha Karandlaje, Perayil, Augustine, Narayana Murthy Organizations: Pune, Ernst, NBC News, Young, Indian Express, Deloitte, KPMG, PricewaterhouseCoopers, World Bank, International Labor Organization, Infosys, LinkedIn Locations: India, Indian, Japan, South Korea, China

☆ The Bank of England has 'some room' to cuts rates but it's unlikely, economist says
▼ + stars: | 2024-09-19 | 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 EmailThe Bank of England has 'some room' to cuts rates but it's unlikely, economist saysYael Selfin, chief economist at KPMG UK, discusses the country's inflation data and what it could mean for the Bank of England's decision.

Persons: Yael Selfin Organizations: of England, KPMG UK, Bank of

☆ CEOs of big US companies are souring on hybrid work
▼ + stars: | 2024-09-18 | by ( Tim Paradis | ) www.businessinsider.com time to read: +7 min

Read previewThe bosses of big US companies are over hybrid work. Adding to the anti-remote vibes: a new snapshot of CEO sentiment that shows Jassy isn't alone in saying "so long, hybrid." About one in three CEOs said retirements and a lack of skilled replacements would have a big effect on their company. Only 54% of CEOs reported that their companies were "well-prepared" for a cyber attack. "The people that have generative AI and AI skills are going to have a big advantage in the marketplace over those that don't," he said.

Persons: —, Andy Jassy, Jassy isn't, Paul Knopp, Amazon's, Knopp, there's, I'm, Nicholas Bloom, Bloom, Z, GenAI, what's Organizations: Service, Amazon, KPMG US, Business, IRL, Stanford, BI, GenAI Locations: upskilling

☆ U.S. needs to rethink zoning to solve housing crisis, says KPMG's Diane Swonk
▼ + stars: | 2024-09-13 | 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 EmailU.S. needs to rethink zoning to solve housing crisis, says KPMG's Diane SwonkDiane Swonk, KPMG chief economist, joins CNBC to discuss why falling mortgage rates aren't spurring buying activity, outlooks on VP Harris' housing plan, and more.

Persons: Diane Swonk Diane Swonk, Harris Organizations: KPMG, CNBC

☆ Some young adults are opting out of parenthood. Money is a major reason, most say
▼ + stars: | 2024-09-10 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

watch nowYoung adults face financial obstaclesOver decades, attitudes about marriage and parenthood have changed. More recently, experts say, the overall cost of living has become a contributing factor in decisions to forgo parenthood. Between 1991 and 2024, the costs for child care rose at nearly twice the pace of overall inflation. But parenthood and related child care costs are not just personal financial issues, he added. "The cost of child care is really an economic growth and productivity issue as well," House said — and that affects all Americans, not just those with young kids.

Persons: Greg McBride, Gen Zers, Pew, Brett House, —, Brett Organizations: Pew Research Center, KPMG, Columbia Business School, Columbia Business Locations: U.S, millennials

☆ Mike Lynch won a dramatic 12-year legal battle over his tech company. Weeks later, he and his top lawyer are dead.
▼ + stars: | 2024-08-22 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +11 min

Hailed as Britain's Bill Gates, Lynch sold Autonomy, his groundbreaking data-management company, to Hewlett-Packard for $11 billion. Shareholders and business commentators were puzzled about what HP, a hardware company, would do with Autonomy, a software company — and why the latter was worth $11 billion. A year after the acquisition, HP wrote down $8.8 billion of the purchase value and accused Lynch of lying about Autonomy's finances. Lynch said HP stifled Autonomy with mismanagement and bureaucracy that pushed out employees and stymied sales. "This verdict closes the book on a relentless 13-year effort to pin HP's well-documented ineptitude on Dr. Lynch," Morvillo said in a joint statement with his attorney colleague Brian Heberlig.

Persons: —, Mike Lynch, Bill Gates, Lynch, Sushovan Hussain, Stephen Chamberlain, Chamberlain, Chris Morvillo, Léo Apotheker, Apotheker, Meg Whitman, James B, Stewart, Time Warner, Bryn Colton, Hussain, hadn't, Henry Nicholls, David Cameron, Cameron, Lynch —, Whitman, Apotheker's, Robert Hildyard, Hildyard hadn't, wasn't, that'd, Guglielmo Mangiapane Morvillo, Morvillo, Brian Heberlig, Angela Bacares, Hannah, Charles Morvillo Organizations: Service, Autonomy, Hewlett, Packard, HP, Business, Cambridge University, Cambridge, Oracle, Adobe, Cisco, Shareholders, New York Times, Time, FBI, Deloitte, Telegraph, The New York Times, KPMG, US Justice Department, Justice Department, High Court, REUTERS, BBC, British Museum, Politico, The Times, Times, Bacares Locations: San Francisco, London, California, Kenya, Sicily

☆ Meta director who used to work for Elon Musk says companies without an internal AI tool are 'already behind the curve'
▼ + stars: | 2024-08-19 | by ( Ana Altchek | ) www.businessinsider.com time to read: +5 min

Read previewIn addition to its suite of consumer-facing AI offerings like Meta AI, Facebook's parent company also has its an internal tool for employees. She said she uses the tool "all the time for efficiency gains," — and companies that don't have their own internal AI tool are "already behind the curve." Any sizable company operating without an internal AI tool is already behind the curve. The company's internal AI tool, which is called VaultBot, answers "around 32% of all engineering questions," according to a company announcement from January. Other big tech giants are also developing internal AI tools alongside consumer-facing products.

Persons: —, Alex Heath, Mark Zuckerberg's, Heath, Esther Crawford, that’s, Esther Crawford ✨, Crawford, Kaz Nejatian, EY, PwC, Banks, Goldman Sachs Organizations: Service, Business, Elon, Twitter, Meta, KPMG, McKinsey, QuantumBlack, JPMorgan, OpenAI, Bain & Company Locations: Meta

Despite the gloom about grocery costs, food price increases have generally been cooling for months. A central issue has plagued the Biden administration for most of its term: the steep rise in grocery prices. Despite the gloom about grocery costs, food price increases have generally been cooling for months. Image Several economists said they expected to see grocery inflation remain around current rates in the coming months. Grocery inflation remains a major political issueHigh food costs continue to pose a political challenge for the Biden administration.

Persons: Biden, Donald J, Trump, ”, David Ortega, Ortega, “ We’re, Mr, Jessica Attie, Omair Sharif, Sharif, Kamala Harris, Christopher B, Barrett, Jerlyn, “, Heisz Organizations: Bloomberg, Federal Reserve, Investors, Republican, White, Workers, Michigan State University, The New York Times, Agriculture Department, KPMG, Democratic, PepsiCo, Cornell University Locations: Ukraine, Platteville, Wis

☆ Gen Z isn't lazy — it just needs training, HR experts say
▼ + stars: | 2024-08-13 | by ( Tim Paradis | ) www.businessinsider.com time to read: +6 min

We tend to wind ourselves up about differences among boomers, millennials, and Gen Zers — sorry, Gen X, forgot to include you — even though many of the distinctions are made up. AdvertisementIt's easy to point to young workers and say they're no good at their jobs because, of course, they're often not as experienced as those doing the criticizing. "Mentorship will be huge with this generation," Toothacre said. So, some young workers' desire to focus more on their mental health and well-being could rankle some older workers and fuel why-didn't-I-think-of-that resentments. We're seeing less of them prioritize work, especially if they're not treated well," she said.

Persons: —, Zers —, Gen X, they're, Julia Toothacre, Toothacre, Thomas Roulet, Roulet, Jon Veasey, It's, Gallup Organizations: Service, Business, Cambridge University, YouTube, KPMG, Workers

☆ Insurers deemed mold too risky decades ago. That coverage gap still surprises homeowners
▼ + stars: | 2024-08-11 | by ( Genna Contino | ) www.cnbc.com time to read: +11 min

Schmitt's example may be extreme, but mold damage is not unusual. In 2022, water damage, including mold, represented 27.6% of homeowners insurance losses, according to data from Insurance Services Office, an industry group. Despite the award for the owner of the mold-damaged home later being reduced to $4 million, companies still pulled back on mold coverage. "Mold claims won't be covered if it's a result of neglect, such as pipe leaking for months resulting in water damage and mold." "You should always read your insurance policy and understand what you have, but no one's going to do that," Kochenburger said.

Persons: Brandi Schmitt, Schmitt, Brandi Schmitt's, adjuster, USAA, Read, Kamala Harris, Harris, Joseph, Ms, Ballard, Amy Bach, United, Bach, Scott Shapiro, Will Melofchik, haven't, Melofchik, Scott Holeman, Holeman, Peter Kochenburger, Kochenburger, it's, Mold, Shapiro, Mark Friedlander Organizations: Maryland, CNBC, Finance, Here’s, Democratic, Insurance Services Office, . Farmers Insurance Group, KPMG, National Council of Insurance, Insurance Information Institute, Southern University Law Center, University of Connecticut's Insurance Law Center, Insurance, South Carolina Independent Agents, Nationwide, Allstate, Federal Trade Commission, Act, State Farm Locations: Lothian , Maryland, U.S, Maryland, Texas, San Francisco, South Carolina, Lindsey , Ohio

☆ 'Underconsumption core' is in — and not a moment too soon, I say
▼ + stars: | 2024-08-04 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

"We are bombarded with shopping opportunities," said Casey Lewis, a social media trend expert and founder of trend newsletter After School. Generation Z, especially, makes shopping decisions heavily driven by TikTok and Instagram, where influencer recommendations play a very significant role, another KPMG report showed. The rise of #underconsumptioncoreTikTok's latest financial trend, #underconsumptioncore, is about making the most of what you already have and rejecting the temptation to buy more (and more and more). This time around, #underconsumptioncore stems from a number of other factors, as well, including a desire to live more intentionally and sustainably. Casey Lewis social media trend expert

Persons: Casey Lewis, Intuit Credit Karma, That's, Allison Bornstein, Brett House, underconsumption Organizations: Facebook, Intuit Credit, KPMG, Columbia Business School

☆ We are pointed towards 'recessionary dynamics': New Century's Claudia Sahm
▼ + stars: | 2024-08-02 | 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 EmailWe are pointed towards 'recessionary dynamics': New Century's Claudia SahmDiane Swonk, KPMG chief economist; Ernie Tedeschi, Yale Budget Lab director of economics; and Claudia Sahm, New Century Advisors chief economist, join 'The Exchange' to discuss their reactions to the July job report, the possibility of an upcoming recession, and more

Persons: Claudia Sahm Diane Swonk, Ernie Tedeschi, Claudia Sahm Organizations: KPMG, Yale Budget Lab, Claudia Sahm , New Century Advisors Locations: Claudia Sahm ,

☆ Harris has championed more progressive ideas than Biden
▼ + stars: | 2024-07-23 | by ( Tami Luhby | Meg Tirrell | ) edition.cnn.com time to read: +9 min

The Biden administration, along with congressional Democrats, broadened access to health insurance by temporarily beefing up the federal premium subsidies for Affordable Care Act policies. Providing middle class tax reliefAs a senator, Harris proposed providing middle-class and working families with a refundable tax credit of up to $6,000 a year (per couple) to help keep up with living expenses. Harris also campaigned on the measure – titled the LIFT the Middle Class Act, or Livable Incomes for Families Today – during her earlier presidential run. Like Trump, Harris proposed allowing the federal government to set “a fair price” for any drug sold at a cheaper price in any economically comparable country, including Canada, the United Kingdom, France, Japan or Australia. As California’s attorney general, Harris joined other states in pursuing several drugmakers for their pricing or practices, winning multimillion-dollar settlements.

Persons: Kamala Harris, Donald Trump, Joe Biden’s, Biden, Harris, Sen, Bernie Sanders ’, ” Harris, Sanders, Roe, Wade, ”, Kelly Baden, ” Baden, –, Trump, ’, John Gimigliano, Harris ’ Organizations: CNN, Affordable, Wall Street, Congressional, White, Guttmacher Institute, Biden, Today –, KPMG’s, KPMG’s Washington National Tax, Trump, Profit Locations: Minnesota, Biden’s, KPMG’s Washington, Canada, United Kingdom, France, Japan, Australia

☆ More teens are working. Here's why a job is 'becoming more compelling' for them, economist says
▼ + stars: | 2024-07-18 | by ( Genna Contino | ) www.cnbc.com time to read: +2 min

Last month, more than 5.7 million 16- to 19-year-olds participated in the labor market, Bureau of Labor Statistics data shows, marking the highest teen employment rate in June since 2007. Economists say more teens have been drawn to the workforce because of a hot labor market with more attractive wages. And as long as the economy stays strong, experts aren't expecting a dip in teen employment on the horizon. Economists say the overall direction teen employment takes depends heavily on where the economy is headed. A perfect storm of a tight labor market, rising wages, high education costs and curbed immigration could result in continued higher youth employment, Nestler said.

Persons: Jeff Greenberg, aren't, Brad Hershbein, Hershbein, Young, Matthew Nestler, they're, Nestler Organizations: Universal, Getty, of Labor Statistics, . Upjohn Institute, Employment Research, KPMG, CNBC Locations: Miami Beach , Florida

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