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☆ 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.

☆ Takeaways from the February jobs report
▼ + stars: | 2023-03-11 | by ( Alicia Wallace | ) edition.cnn.com time to read: +9 min

Minneapolis CNN —February’s jobs report had a little something for everyone. In February, the construction industry added 24,000 jobs, marking 12 consecutive months of employment growth. Friday’s report showed that “a modicum of slack crept back into the jobs market,” wrote Wells Fargo economists Sarah House and Michael Pugliese. However, Friday’s jobs report likely won’t spur a more dovish turn from the Fed, said Sean Snaith, an economist and director of the University of Central Florida’s Institute for Economic Forecasting. “We didn’t go from a four-alarm fire to a five-alarm fire with this data report, but the inflation flames aren’t out either,” he wrote in a note Friday.

☆ What to expect from the February jobs report
▼ + stars: | 2023-03-10 | by ( Alicia Wallace | ) edition.cnn.com time to read: +8 min

Minneapolis CNN —January’s jobs report delivered a heck of a surprise when it showed the US economy had added more than half a million jobs and unemployment had dipped to a level not seen in more than five decades. But economists say they are not bracing for another blindside when the February jobs report comes out on Friday morning. “If we get a second strong jobs report [on Friday], it’s no longer an anomaly,” Terrazas added. Seasonality, benchmarking and the interplay of pandemic-era data don’t completely explain away January’s blockbuster jobs report, economists say, noting there are likely influences from the currently tight labor market. The Bureau of Labor Statistics’ February jobs report is set to be released at 8:30 a.m.

☆ February jobs preview: What to expect after January’s blowout report
▼ + stars: | 2023-03-09 | by ( Alicia Wallace | ) edition.cnn.com time to read: +8 min

Minneapolis CNN —January’s jobs report delivered a heck of a surprise when it showed the US economy had added more than half a million jobs and unemployment had dipped to a level not seen in more than five decades. But economists say they are not bracing for another blindside when the February jobs report comes out on Friday. “I think most economists were comfortable dismissing the January jobs data as an anomaly,” Aaron Terrazas, Glassdoor’s chief economist, told CNN. “If we get a second strong jobs report [on Friday], it’s no longer an anomaly,” Terrazas added. Seasonality, benchmarking and the interplay of pandemic-era data don’t completely explain away January’s blockbuster jobs report, economists say, noting there are likely influences from the currently tight labor market.

☆ Layoffs are still historically low, so why does it feel like everyone's losing their job?
▼ + stars: | 2023-03-09 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +9 min

The layoffs and discharges rate in January was 1.1%, which remains historically low. While BLS data may show a low US layoff rate overall, tech layoff announcements are important, given Pollak said that tech and finance are "synonymous with Americans' aspirations generally." "Those markets are very exposed to tech layoffs, and tech plays a disproportionate role in the economy," Terrazas added. Pollak told Insider that the layoffs at tech companies are "relatively small" and that "many companies also are not pursuing layoffs across the board." Despite the layoff rate being very low, job seekers may still be concerned about these headlines.

☆ U.S. private payrolls increase in February -ADP
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, March 8 (Reuters) - U.S. private payrolls increased more than expected in February, pointing to continued labor market strength. Private employment increased by 242,000 jobs last month, the ADP National Employment report showed on Wednesday. It has not been a reliable gauge in forecasting private payrolls in the BLS employment report. The ADP initially reported 106,000 private jobs were created in January, a fraction of the 443,000 surge in private payrolls estimated by the BLS. According to a Reuters survey of economists, private payrolls likely increased by 213,000 jobs in February.

☆ Over 100,000 workers walked out in 2022, showing that Americans' demands for better conditions aren't going away
▼ + stars: | 2023-02-22 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +4 min

About 120,000 workers walked out of the job in 2022 — roughly 40,000 more than in 2021. Per new Bureau of Labor Statistics data, the number of major work stoppages that began in 2022 was higher than in 2021. Other data suggests that work stoppages of all sizes soared in 2022. All told, even BLS's official accounting of major stoppages shows an increased appetite for walking out. However, it still pales in comparison to previous highs; in 1952, the year with the highest recorded number of major stoppages, there were 470 walkouts.

☆ The job market is still hot: How 2 laid-off workers quickly found new gigs after posting their layoff stories on LinkedIn
▼ + stars: | 2023-02-17 | by ( Madison Hoff | ) www.businessinsider.com time to read: +6 min

Social media and social networks may be beneficial for these new job seekers — like LinkedIn. Similarly, Wen Huber was able to find a new job after being laid off by posting on LinkedIn, according to a Wall Street Journal article. "We are seeing this in real-time as the LinkedIn community has rallied around each other throughout the pandemic and even more so now in light of layoffs." For Huber, he said that "as a social media manager, I believe social media can be a great opportunity for some." Have you used social media to find a new job?

☆ 10 in-demand side hustles and jobs you can do from home—one can make almost $100,000 a year
▼ + stars: | 2023-02-17 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +4 min

The company's 2023 report on the "State of Remote, Freelance Jobs" includes a ranking of the 10 most in-demand job titles for remote, freelance work that companies on FlexJobs' platform hired for in 2022. Topping the list of job titles is "executive assistant," a role that often includes duties such as managing an executive's calendar and taking meeting minutes, according to FlexJobs. 3 despite an annual mean full-time wage of $39,070, according to BLS data. Of course, even though millions of Americans are already getting by as freelancers, leaving the stability of a full-time job to start a freelancing career is not without risks. If you usually have trouble making a solid financial plan and sticking to it, the "feast or famine cycle" of freelancing might not be for you, the FlexJobs report notes.

☆ An Ohio restaurant 'forced' servers to work 60 hours a week for just $10 in wages plus tips, the Department of Labor says
▼ + stars: | 2023-02-15 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

A Mexican restaurant in Ohio paid its servers just $10 a week plus tips, a DOL investigation found. Servers were "forced" to cash their paychecks then pay their wages back in cash, the DOL said. They were only allowed to keep tips plus $20 per two-week pay period, the DOL said. Servers, who worked an average of 60 hours a week, were only allowed to keep the tips they earned plus $20 per two-week pay period, the DOL said. The restaurant was ordered to pay $245,509 in back wages to six servers and 12 cooks.

☆ Here's the breakdown of the inflation report for January — in one chart
▼ + stars: | 2023-02-14 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

High inflation has followed the U.S. economy into 2023, as consumers continued to see high prices in January. Inflation rose 0.5% for the month and 6.4% over the past 12 months, according to consumer price index data released by the U.S. Bureau of Labor Statistics on Tuesday. Both results were higher than some economists' expectations, which had predicted 0.4% for the month and 6.2% year over year. Almost half of Americans think we're already in a recessionThe CPI measures the average change in consumer prices based on a broad basket of goods and services. Other areas that saw a monthly decline in prices include used cars and trucks, medical care, and airline fares.

☆ U.S. consumer prices increase in January; trend slowing
▼ + stars: | 2023-02-14 | by ( ) www.reuters.com time to read: +2 min

The consumer price index increased 0.5% last month after gaining 0.1% in December, the Labor Department said on Tuesday. Monthly inflation was boosted in part by rising gasoline prices, which increased 3.6% in January, according to data from the U.S. Energy Information Administration. The revisions, updated seasonal factors and new weights prompted some economists to bump up their CPI forecasts. In the 12 months through January, the CPI increased 6.4%. Excluding the volatile food and energy components, the CPI increased 0.4% after rising 0.4% in December.

☆ Inflation rose 0.5% in January, more than expected and up 6.4% from a year ago
▼ + stars: | 2023-02-14 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

The consumer price index, which measures a broad basket of common goods and services, rose 0.5% in January, which translated to an annual gain of 6.4%. The component accounts for more than one-third of the index and rose 0.7% on the month and was up 7.9% from a year ago. Energy also was a significant contributor, up 2% and 8.7%, respectively, while food costs rose 0.5% and 10.1%, respectively. The central bank has hiked its benchmark interest rate eight times since March 2022 as inflation rose to its highest level in 41 years last summer. That's why some Fed officials, including Powell, say they are looking more closely at core services inflation minus shelter prices in determining the course of policy.

☆ December consumer prices didn’t actually fall
▼ + stars: | 2023-02-10 | by ( Alicia Wallace | ) edition.cnn.com time to read: +4 min

Minneapolis CNN —December consumer prices rose from the month before and did not fall as previously thought, according to revised data from the Bureau of Labor Statistics released Friday. The newly calibrated Consumer Price Index shows that prices rose 0.1% on a seasonally adjusted basis in December from November versus a previously estimated decline of 0.1%. The latest annual adjustments show slight shifts in the month-on-month inflation trend for 2022 — with November and October revised up by 0.1 percentage points. “This means that this 2023 CPI report will be based on consumer spending patterns that took place in 2021, as opposed to 2022’s CPI data, which was based on spending data over 2019-2020,” William Blair analyst Richard de Chazal wrote in a note Friday. Here’s how the adjusted data looks for 2022:Month: Original data vs. RevisedJanuary: 0.6% vs. 0.6%February: 0.8% vs. 0.7%March: 1.2% vs. 1%April: 0.3% vs. 0.4%May: 1% vs. 0.9%June: 1.3% vs. 1.2%July: 0.1% vs. 0%August: 0.1% vs. 0.2%September: 0.4% vs. 0.4%October: 0.4% vs. 0.5%November: 0.1% vs. 0.2%December: -0.1% vs. 0.1%

☆ 5 jobs that pay $100,000 or more and don't require a college degree—and how to get them
▼ + stars: | 2023-02-09 | by ( Morgan Smith | ) www.cnbc.com time to read: +1 min

More employers are easing their education requirements for some positions, joining Apple, Google, Bank of America and other major companies that are favoring skills and work experience over a four-year degree to vet candidates. The number of jobs requiring any degree beyond a high school diploma has been steadily declining since the start of the pandemic, according to new research from ZipRecruiter. By 2030, the Bureau of Labor Statistics projects that about 60% of all new jobs in the economy will be in occupations that don't require an associate, bachelor's or graduate degree. If you are exploring career paths that don't require a bachelor's degree, there are several unique high-paying jobs you can consider. Here are five six-figure jobs that don't require a bachelor's degree, according to data from Glassdoor and the BLS:

☆ A millennial who got laid off from her dream job says she doesn't feel betrayed: 'The company has already moved forward and you need to do so too'
▼ + stars: | 2023-02-09 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

Michelle Valera, 28, got laid off from her "dream job" a few weeks ago. But she says she doesn't feel "betrayed" because the company is not her family. But despite all this, she says she doesn't feel "betrayed" by her former employer and thinks others shouldn't feel this way either — at least for too long. "Feel angry, feel sad, feel betrayed for a day, for two days maybe, but then let it go and move forward because the company has already moved forward and you need to do so too for your own financial benefit." With anger towards the company, it doesn't help them move forward."

☆ The top 10 best U.S. cities for STEM careers, according to new research
▼ + stars: | 2023-02-03 | by ( Ashton Jackson | ) www.cnbc.com time to read: +4 min

Despite recent mass tech layoffs , STEM careers have remained in high demand — and some cities are better than others for professionals in the field. Seattle, WATotal Score: 70.82Professional opportunities ranking: 1Quality of life ranking: 222. Austin, TXTotal Score: 67.33Professional opportunities ranking: 2Quality of life ranking: 103. Sacramento, CATotal Score: 60.16Professional opportunities ranking: 38Quality of life ranking: 32According to Jill Gonzalez, a WalletHub analyst, most of these cities have consistently remained the best places for STEM careers for almost a decade. The recent layoffs have only affected a small part of the total labor force and the STEM field encompasses more areas than just tech.

☆ U.S. job growth accelerates in January, wage gains moderate
▼ + stars: | 2023-02-03 | by ( Lucia Mutikani | ) www.reuters.com time to read: +2 min

WASHINGTON, Feb 3 (Reuters) - U.S. job growth accelerated sharply in January amid a persistently resilient labor market, but a further moderation in wage gains should give the Federal Reserve some comfort in its fight against inflation. The Labor Department's closely watched employment report's survey of establishments on Friday showed that nonfarm payrolls surged 517,000 jobs last month. Economists polled by Reuters had forecast payrolls increasing by 185,000 jobs and wages advancing 4.3% year-on-year. It also incorporated new population estimates in the household survey, from which the unemployment rate is derived. As such January's unemployment rate of 3.4% is not comparable to December's 3.5% rate.

☆ Strong U.S. job growth expected in January; wages seen cooling
▼ + stars: | 2023-02-03 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

"Wage growth is decelerating less than inflation," said Kate Bahn, chief economist at the Washington Center for Equitable Growth in Washington. It will also incorporate new population estimates in the household survey, from which the unemployment rate is derived. As such January's unemployment rate will not be directly comparable to December. REVISIONS IN FOCUSThe revisions will attract attention after researchers at the Philadelphia Fed published a paper in December that suggested employment growth in the second quarter was overstated by a million jobs. Economists will be closely watching the labor force for signs whether the current pace of job growth will persist.

☆ What to look for in Friday’s jobs report
▼ + stars: | 2023-02-02 | by ( Alicia Wallace | ) edition.cnn.com time to read: +5 min

Minneapolis CNN —A week that has been chock-full of economic data will be capped off Friday with the first US jobs report of 2023. Beyond the key headline indicators of payroll gains, unemployment and average hourly earnings, here are some other areas of the jobs report that Pollak and other economists will scrutinize when the January jobs report is released Friday morning. Average weekly hoursIn December, the average working week for employees — including part-time workers — was 34.3 hours, according to BLS data. Labor force participationThe imbalance of labor demand and worker supply has been consistently highlighted by the Fed as a potential sticking point in its efforts to lower inflation. The world has changed pretty dramatically over the last two to three years, and it’s going to be difficult to show people that the skills they possess are needed right now.”The government’s monthly jobs report is scheduled to be released at 8:30 a.m.

☆ U.S. job openings increase to five-month high as labor market stays tight
▼ + stars: | 2023-02-01 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

There were 1.9 job openings for every unemployed person in December, the Labor Department's monthly Job Openings and Labor Turnover Survey, or JOLTS report, showed on Wednesday. Job openings, a measure of labor demand, increased by 572,000 to a five-month high of 11.0 million on the last day of December. Others speculated that job openings had been overstated because of difficulties adjusting the data for seasonal fluctuations. "A jump in job openings in the retail sector is also at odds with a lower pace of seasonal hiring around the holidays." The job openings rate up shot to 6.7% from 6.4% in November.

☆ U.S. private payrolls miss expectations in January -ADP
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, Feb 1 (Reuters) - U.S. private payrolls increased far less than expected in January, hinting at some cooling in the labor market. Private employment increased by 106,000 jobs last month, the ADP National Employment report showed on Wednesday. Economists polled by Reuters had forecast private jobs increasing 178,000. It has been a poor predictor of private payrolls in the BLS employment report. According to a Reuters survey of economists, nonfarm payrolls likely increased by 185,000 jobs in January after rising by 223,000 in December.

☆ Job openings unexpectedly jump to 11 million in December
▼ + stars: | 2023-02-01 | by ( Alicia Wallace | ) edition.cnn.com time to read: +5 min

The 11 million openings for December is the highest since July. The largest increases in job openings were in accommodation and food services, which were up 409,000; retail trade, up 134,000; and construction, up 82,000, according to the BLS report. “The labor market continues to defy the recession predictions of experts,” said Christopher Rupkey, chief economist with FwdBonds, in a statement. Layoffs increased to 1.47 million from 1.41 million in November, and the number of people quitting their jobs ticked down to 4.09 million from 4.1 million. Still, there may be something more than meets the eye in December’s openings number, she added.

The issue brief stated that a "10% increase in median childcare prices was associated with 1 percentage-point lower county-level maternal employment rates." "High childcare prices and minimal public childcare investments are especially detrimental to employment among mothers with lower wages, as childcare affordability is out of reach," the researchers wrote. Childcare costs have outpaced inflation during the pandemic, according to one recent report, and the lion's share of childcare duties have fallen on women during the pandemic, causing them to leave the workforce en masse. Childcare workers made a mean hourly wage of $13.31 as of 2021, with the bottom 10% earning about $9 an hour. That's as childcare workers are more than twice as likely to live below the poverty line as those in other industries.

☆ Home Depot's cofounder — who retired in 2002 — says he doesn't want the 'woke generation' leading business because of their 'laziness'
▼ + stars: | 2023-01-20 | by ( Grace Dean | ) www.businessinsider.com time to read: +5 min

Home Depot cofounder Bernie Marcus is adamant he doesn't want the "woke generation" leading business. He told Fox Business that "nobody wants to work anymore" because of "laziness" and government benefits. Home Depot has distanced itself from Marcus, noting he hasn't worked at the company in 20 years. "How do you have a recession when you have people that don't want jobs?," Marcus said during Thursday's interview. "Bernie Marcus retired from The Home Depot more than 20 years ago and does not speak on behalf of the company," Home Depot told Insider in a statement.

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