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And an ECB survey of lending data for March revealed banks were tightening access to credit even as demand for it from borrowers collapsed, resulting in the slowest pace of growth in credit to households since 2018. And it was mirrored by March lending data, which showed growth in corporate credit slow to 5.2% year on year. "With the next big TLTRO expiring towards the end of June amid further key rate hikes, credit demand will be further dampened," Martin Wolburg, senior economist at Generali Investments, said. There was a smaller decrease in demand for consumer credit and other lending to households. Lending data also showed the annual increase in lending to households slowing to 2.9% from 3.2%.

☆ Looking for a new career? Here are 30 high-paying, fast-growing jobs that are set to boom over the next decade
▼ + stars: | 2023-04-24 | by ( Madison Hoff | ) www.businessinsider.com time to read: +2 min

How we came up with our list of the best jobs of the futureThe above 30 jobs both pay above the median annual wage and are poised to grow over the next decade. The Bureau of Labor Statistics releases annual employment projections of how various jobs will grow or decline over the next decade. A higher geometric mean would mean a higher rank. Wage data is for May 2021 from the Bureau's Occupational Employment and Wage Statistics program. We only included jobs that pay over $45,760, the median wage for all occupations, because we were interested in jobs that are both expected to grow and pay well.

☆ Here’s the inflation breakdown for March 2023 — in one chart
▼ + stars: | 2023-04-12 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

But swings in gasoline and other energy mask price pressures that, while easing, remain under the surface, economists said. "It's improving and the economy is cooling, but it's still far from tepid," Diane Swonk, chief economist at KPMG, said of inflation. What drove inflation in March 2023Housing was a "notable" inflation driver in March and over the past year, according to the BLS. The shelter index increased 8.2% in the last year, accounting for over 60% of the total increase in consumer prices after stripping out the volatile energy and food categories. "It signals the food inflation fever has been broken," Zandi said.

☆ Get ready for a Goldilocks summer featuring a job market that's neither too hot nor too cold
▼ + stars: | 2023-04-12 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +5 min

It's set up a Goldilocks situation heading into summer, where the job market is cooling, but not enough to have an adverse effect on the average American. That could mean a summer of fewer price spikes at the grocery store, and less businesses scrambling to hire, while workers maintain some power in the job market. "We're still in a hot labor market," Nick Bunker, the economic research director for North America at Indeed Hiring Lab, told Insider. Getting to a just-right job marketBunker told Insider the US job market is getting close to something that looks like what we saw prior to the pandemic. If they did, it would represent a job market tipping into the "too cold" zone.

☆ Inflation took a massive plunge in March
▼ + stars: | 2023-04-12 | by ( Madison Hoff | ) www.businessinsider.com time to read: +2 min

That's according to the year-over-year increase of the Consumer Price Index for March. The Consumer Price Index increased 5.0%, the lowest rate since May 2021. Inflation as measured by the Consumer Price Index (CPI), soared by a 5.0% year-over-year increase in March, less than the year-over-year increase of 6.0% in February. Core CPI, which excludes volatile food and energy prices, increased by 5.6% year-over-year per data that wasn't seasonally adjusted. The Fed has continued to fight inflation with interest rate hikes.

☆ Young people haven't been taught the 'value of work,' says Ronald Reagan's education secretary
▼ + stars: | 2023-04-10 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

Young people haven't been taught the "value of work," Bill Bennett told Fox Business. Reagan's education secretary said he was "very concerned" about young people's attitudes towards work. Research from two University of Maryland professors found that the average US work week had overall fallen by more than 30 minutes since before the pandemic. "We haven't talked to them about the value of work, we haven't taught them," he continued. "Are parents talking to their kids about work and why they work and how important it is?

☆ Working from home: The latest on who is WFH and who isn't
▼ + stars: | 2023-04-09 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +6 min

In other words, 72.5% of private-sector organizations — up from 60% in the July-to-September 2021 period — said they did not have employees working remotely. The BLS survey also interpreted respondents’ answers as referring to a company’s formal telework policies, not whether some employees informally work remotely on occasion, such as responding to work emails from home. The same survey respondents said their employers plan to allow employees to work remotely 2.2 days a week, for those who can. “I have talked to hundreds of organizations about WFH [working from home] over the past three weeks, and this is now clearly stabilizing to a post-pandemic norm,” he said in an email. In Pew’s February survey, 35% of people who could work remotely were doing so full time, down from 55% in October 2020, but still well above the 7% of people working remotely full-time before the pandemic.

☆ U.S. Economy’s ‘Two Cycles’ Put Fed in a Pickle
▼ + stars: | 2023-04-07 | by ( Aaron Back | ) www.wsj.com time to read: 1 min

Labor market conditions are probably weaker than they look from the latest jobs report, and there is reason to believe they will keep deteriorating. But it remains hard to say the jobs picture is poor overall. This presents policy makers with a conundrum. The U.S. economy added a seasonally adjusted 236,000 jobs in March, the Bureau of Labor Statistics said Friday, just slightly shy of expectations for 238,000. That pace was down somewhat from an average of 334,000 over the prior six months, the BLS said.

☆ Where jobs were gained and lost in March
▼ + stars: | 2023-04-07 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Government employers and the professional and business services industry also hired at a solid clip last month. Strongest gainsLeisure and hospitality employers added 72,000 jobs last month, the most of any industry. Health care businesses added 34,000 jobs and employment in the business services sector — which includes many white-collar jobs such as accountants, engineers, and consultants — grew by 39,000. The construction industry lost 9,000 jobs in March, the first decline in construction employment in more than a year and the largest job loss in the sector since May 2021 -— though still a drop of just under 1.1%. But while new residential construction has slowed over the past year, construction jobs have held up, mostly because of a backlog in construction projects, Swonk said.

☆ ‘We’re at a tipping point:’ What to expect from the jobs report
▼ + stars: | 2023-04-07 | by ( Alicia Wallace | ) edition.cnn.com time to read: +9 min

Minneapolis CNN —The US labor market has kept trucking right along even as other areas of the economy have slowed. ET Friday when the Bureau of Labor Statistics drops the heavily anticipated jobs report for March. On Wednesday, the latest private-sector jobs report from payroll processor ADP came in at 145,000 for March, landing below expectations. There still remains uncertainty about the extent to which those and other layoffs may ripple through the broader labor market. The Bureau of Labor Statistics is set to release its March jobs report at 8:30 a.m.

☆ Black Americans are more likely to be working than white Americans for the first time on record
▼ + stars: | 2023-04-07 | by ( Jason Lalljee | Madison Hoff | ) www.businessinsider.com time to read: +5 min

In March, the Black employment-population ratio was above the white employment-population ratio for the first time since at least 1972. The unemployment rate for Black Americans also hit a record low of 5.0% in March. The employment-population ratio measures the share of a group that has a job, meaning that for the first time on record, Black Americans are more likely to currently be working than white Americans. Additionally, the unemployment rate for Black Americans fell by 0.7 percentage points to 5.0% in March, the lowest rate on record, according to Black unemployment data starting in 1972. Which is what makes March's low unemployment rate for Black Americans, and a higher employment-population ratio than the white employment-population ratio, so novel.

☆ High-earning, workaholic men are cutting their work hours the most right now
▼ + stars: | 2023-04-06 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +6 min

Men who used to work the most cut their work weeks by three hours on average since 2020. At a conference last week, Yongseok Shin, a Washington University in St. Louis professor who worked on the study, said those groups are educated young men, high-earning men, and men who previously worked the most hours. It contrasts with another important trend for young men in the workforce: even though educated, highly paid men are working fewer hours, they're still working. Having access to remote and hybrid work opportunities likely convinced men making more money that they didn't need to work so hard, Shin said. Men who previously worked 55-hour weeks are paring backIn the NBER study, Shin said, men in the "top hours decile" reduced their hours from 55 hours per week in 2019 to 52 in 2022.

☆ ‘We’re at a tipping point:’ What to expect from the jobs report on Friday
▼ + stars: | 2023-04-06 | by ( Alicia Wallace | ) edition.cnn.com time to read: +9 min

Minneapolis CNN —The US labor market has kept trucking right along even as other areas of the economy have slowed. Just how much of a shift there is could become even clearer on Friday when the Bureau of Labor Statistics drops the heavily anticipated jobs report for March. On Wednesday, the latest private-sector jobs report from payroll processor ADP came in at 145,000 for March, landing below expectations. There still remains uncertainty about the extent to which those and other layoffs may ripple through the broader labor market. The Bureau of Labor Statistics is expected to release its March jobs report on Friday at 8:30 a.m.

☆ US private payrolls growth slows in March -ADP
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +3 min

Private employment increased by 145,000 jobs last month, the ADP National Employment report showed on Wednesday. Economists polled by Reuters had forecast private employment increasing 200,000. The government reported on Tuesday that there were 9.9 million job openings at the end of February. It has not been a reliable gauge in forecasting private payrolls in the BLS employment report. According to a Reuters survey of economists, the government report is likely to show private payrolls increased by 215,000 jobs in March.

☆ US private payrolls miss expectations in March -ADP
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, April 5 (Reuters) - U.S. private employers hired far fewer workers than expected in March, suggesting that the labor market was cooling. Private employment increased by 145,000 jobs last month, the ADP National Employment report showed on Wednesday. Economists polled by Reuters had forecast private employment increasing 200,000. It has not been a reliable gauge in forecasting private payrolls in the BLS employment report. According to a Reuters survey of economists, private payrolls likely increased by 215,000 jobs in March.

☆ The 10 best US cities for job opportunities and earning potential in 2023
▼ + stars: | 2023-04-05 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

HR firm Checkr ranked the best US cities for job opportunities and earning potential. A new report from Checkr, a background check firm, looked at which cities job seekers should consider. Checkr analyzed BLS and other government labor data on the 100 largest US cities to determine which cities have the most job opportunities with the highest earning potential. The 10 best US cities for job opportunities and earning potential according to Checkr, are:1. The shift to remote work may encourage workers to move to cheaper, mid-sized cities, Korolevich said.

☆ Job openings shrank more than expected in February in a positive sign for the Fed
▼ + stars: | 2023-04-04 | by ( Alicia Wallace | ) edition.cnn.com time to read: +1 min

That’s lower than the downwardly revised 10.56 million reported for January, according to the latest Job Openings and Labor Turnover Survey. Economists were expecting 10.4 million available positions, according to Refinitiv. The industries with the largest declines in job openings were professional and business services, health care and social assistance, and transportation, warehousing and utilities, according to the BLS. With the latest decline in open positions, the labor market is now showing a little more slack. The number of available jobs per job seeker is now fewer than 1.7, down from nearly 1.9.

CNN —It has almost never been as hard to buy a new or used car in the United States as it is today, despite improving supply issues and inflation beginning to steady. But used cars have a long way to go before approaching 2019 sales prices and new car prices have yet to slow down. What makes the 2020s unique is how much car prices rose in a short period of time. Over the used car market’s worst 12 months of the pandemic, the index rose 45%. There’s never been a 12-month period since the BLS began keeping records in 1947 when used car prices have inflated more.

☆ Remote job options are dwindling
▼ + stars: | 2023-03-27 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +4 min

The following chart shows select industries and which ones among them have the highest share of establishments where people teleworked all the time. BLS data shows the information sector had a relatively high share of establishments where workers worked remotely all the time, at 42.2%. While remote options may seem to be dwindling, some experts Insider talked to say that remote work is going to continue to be prevalent. "Remote work has been a huge and permanent change to how people work and live," Adam Ozimek, chief economist at the Economic Innovation Group, told Insider. Have you had to choose between returning to the office or losing your job?

☆ More women become truckers as the industry tries to overcome a shortage of drivers
▼ + stars: | 2023-03-25 | by ( Noah Sheidlower | ) www.cnbc.com time to read: +10 min

She's one of many in the trucking industry leading efforts to bring more women into the fold. Associations like Women In Trucking work to increase the rate of women drivers, technicians and executives, particularly younger women or those switching careers, like Johnson. Now, with the industry facing a daunting driver shortage, initiatives to bring in women drivers from other industries have escalated. The share of women truckers has increased significantly in recent years: Women now make up almost 8% of truck drivers and sales delivery drivers, according to the U.S. Bureau of Labor Statistics. Navigating shortagesThough many women joined the industry during the pandemic, Covid-19 lockdowns stalled training and testing for truck drivers.

☆ Here’s the inflation breakdown for February — in one chart
▼ + stars: | 2023-03-14 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

Overall inflation has moderated from June's pandemic-era peak over 9% but remains higher than any point since the 1980s. watch now"The pervasiveness of inflation is an ongoing issue," said Greg McBride, chief financial analyst at Bankrate. Inflation a byproduct of supply, demand imbalancesConsumer prices began rising at a rapid pace in early 2021 as the U.S. economy started to reopen after the pandemic-related shutdown. Goods inflation has retreated but has since spread to the services sector largely due to business' high demand for workers, economists said. The Fed is trying to manufacture a so-called "soft landing," whereby by inflation slows but the economy doesn't tip into a recession.

☆ CPI report: Inflation fell for eighth-straight month in February
▼ + stars: | 2023-03-14 | by ( Alicia Wallace | ) edition.cnn.com time to read: +3 min

Minneapolis CNN —Inflation remains elevated but the temperature is coming down, according to the latest Consumer Price Index. It’s the eighth consecutive month that the annual rate has declined, and marks the lowest level since September 2021. On a monthly basis, prices were up 0.4%, representing a cooldown from the January monthly growth rate of 0.5%. Despite some broader declines, Tuesday’s CPI report shows that it may take longer for the inflation rate to reach the Fed’s desired 2% target, wrote Sinem Buber, lead economist at ZipRecruiter. On the one hand, it wants to maintain credibility on inflation and avoid core inflation accelerating further.

☆ Grocery prices: Eggs are finally getting cheaper in the grocery store
▼ + stars: | 2023-03-14 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +3 min

New York CNN —Grocery prices rose slightly last month, but eggs are finally getting cheaper in the supermarket. In February, egg prices fell 6.7% compared to January, according to seasonally adjusted data released Tuesday by the Bureau of Labor Statistics. In the 12 months through February, egg prices rose 55.4%. The difference was even more pronounced when looking just at grocery prices, which rose 10.2%. Menu prices, which also factor into overall food inflation, rose 8.4% throughout the year.

☆ A worker died in a ship's cargo hold in Florida after 2 tons of paper crushed him against a wall, Department of Labor says
▼ + stars: | 2023-03-13 | by ( Grace Dean | ) www.businessinsider.com time to read: +2 min

A worker was crushed to death by two tons of paper being hoisted onto a ship, OSHA said. OSHA said the crane operator hadn't been able to see the signalman guiding the load movement. The crane operator didn't have a clear view of employees in the hold below, OSHA said. When the ship pitched with a wave, one of the loads crushed a worker against the vessel's wall, OSHA said. Premier Bulk Stevedoring was cited for one repeat and two serious violations and OSHA has proposed $43,750 in penalties.

☆ 2 Florida restaurants kept staff tips to cover dine-and-dash customers and illegally charged workers for their uniforms, the DOL says
▼ + stars: | 2023-03-13 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Two restaurants in Florida kept servers' tips to cover dine-and-dash customers, the DOL said. A total of $190,730 in back wages and liquidated damages was recovered for the workers, per the DOL. Employers are not allowed to keep staff tips under any circumstances under the Fair Labor Standards Act. The two restaurants – Red Mesa Restaurant and Red Mesa Cantina – had also deducted the cost of employees' uniforms from their wages, meaning that some were paid less than the minimum wage. Red Mesa Restaurant and Red Mesa Cantina also failed to pay the correct overtime rate of 1 ½ times workers' normal hourly pay for hours worked over 40 in a week.

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