DIRS.INFO The most relevant business & tech news

☆ The lowest-earning Americans and the middle class got a pay cut in 2021, while the richest saw the biggest wage growth
▼ + stars: | 2022-12-21 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +5 min

The bottom 90% of workers actually saw their wages decline in 2021, as the top 1% saw average wages grow. A new report from the left-leaning Economic Policy Institute looks at wage growth in 2021, using annual earnings from the Social Security Administration. They found that the top 1% saw average real wages grow 9.4% from 2020 to 2021, while the bottom 90% saw wages decline ever so slightly by 0.2%. "The top 1% now amasses a record share of total earnings, while the bottom 90% share of earnings has hit a historic low." The bottom 90% saw a much smaller increase of 28.7% based on averages in 2021 dollars — from $28,415 in 1979 to $36,571 in 2021.

☆ With inflation still elevated, a recession looming, and workers still in short supply, the minimum salary people will accept right now is almost $74,000
▼ + stars: | 2022-12-20 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +6 min

That's according to average reservation wage results from the New York Fed's SCE Labor Market Survey. The average reservation wage in November 2022 was $73,667, 4.7% higher than the average a year earlier. Prices are soaring, the labor market is still hot, and some small businesses are having a hard time filling openings. The average reservation wage from March 2020 to November 2022 climbed more for employed people, compared to peers who aren't working. The record reservation wage also backs up what economic data has continually shown: The labor market doesn't seem too worried about a recession.

☆ I work with Gen Zers entering the job market. Yes, they want more money — but there's more to it than that.
▼ + stars: | 2022-12-20 | by ( Alli Hoff Kosik | ) www.businessinsider.com time to read: +7 min

Williams said Gen Z job seekers have higher demands because they have more access to company data. For Gen Z, we can't overestimate the impact of the pandemic, social unrest, and an ever-increasing attachment to technology. Gen Z professionals certainly have higher expectations than those that came before themIt's about more than just salary. When making their ask, a Gen Z job candidate is likely to include their expectations about time off, remote work, and access to other corporate resources. Companies must address these questions in order to effectively negotiate with and bring Gen Zers into their organizations.

☆ I work with Gen Zers entering the job market. They're demanding more money, benefits, and opportunities and employers should actually be thrilled about it.
▼ + stars: | 2022-12-20 | by ( Alli Hoff Kosik | ) www.businessinsider.com time to read: +7 min

Williams said Gen Z job seekers have higher demands because they have more access to company data. For Gen Z, we can't overestimate the impact of the pandemic, social unrest, and an ever-increasing attachment to technology. Gen Z professionals certainly have higher expectations than those that came before themIt's about more than just salary. Companies must address these questions in order to effectively negotiate with and bring Gen Zers into their organizations. Gen Zers ask them because they're savvy, ambitious, and motivated.

☆ The 15 deadliest jobs in America
▼ + stars: | 2022-12-17 | by ( Madison Hoff | ) www.businessinsider.com time to read: +2 min

There were 82.2 fatalities per 100,000 full-time equivalent workers for logging workers. Fishing and hunting workers followed behind, with a rate of 75.2 per 100,000 full-time equivalent workers. Construction trade helpers, for instance, was among the occupations with the highest fatal injury rates. The following are the 15 most deadliest jobs in America based on 2021 fatal injury rates. Fatal injury rates noted below are fatal injuries per 100,000 full-time equivalent workers.

☆ Nearly half of all Gen Z and millennial workers did freelance work this year as the Great Resignation continued, inflation remained sky high, and people wanted work flexibility
▼ + stars: | 2022-12-15 | by ( Madison Hoff | Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Young Americans led the way — over 40% of Gen Z workers and almost 50% of millennial workers freelanced. The record share this year signals more Americans are turning to freelance work amid continued employer struggles to find workers. According to the survey, 43% of Gen Z workers and 46% of millennial workers performed freelance work in 2022, compared to 35% of Gen X workers who said the same. Thirty-seven percent said they provide "unskilled" services, while 31% said they sell goods as part of their freelance work. Per the report, 17% of US freelancers generate "income from a mix of traditional employment and freelance work."

☆ Inflation cooled again in November to the slowest pace in a year
▼ + stars: | 2022-12-13 | by ( Madison Hoff | ) www.businessinsider.com time to read: +4 min

Inflation as measured by the Consumer Price Index soared 7.1% year-over-year in November, lower than the year-over-year increase of 7.7% in October. November's increase comes in below the 7.3% increase economists surveyed by Bloomberg forecasted, and is the lowest year-over-year rate since December 2021. Over the month, CPI increased by a seasonally adjusted 0.1% in November, below the 0.3% expected to be seen this month by economists. This index soared 13.1% year-over-year when looking at unadjusted figures, a slower increase than October's year-over-year increase. US Treasury Secretary Janet Yellen recently said on "60 Minutes" that she thinks "inflation will be lower."

☆ The 25 big companies with the best CEOs
▼ + stars: | 2022-12-13 | by ( Madison Hoff | ) www.businessinsider.com time to read: +2 min

1 on Comparably's 2022 list of the top CEOs from big companies. 1 on Comparably's Best Company Culture list that was published on Monday. The CEOs of ADP, Nextdoor, and Google also made this year's top 10 CEOs. Several CEOs of companies in tech made the top of the list. The following are the CEOs that made the top of the large company list this year.

☆ People are actually less worried about losing their jobs than they were before the pandemic
▼ + stars: | 2022-12-12 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +4 min

Still, workers are more worried about losing their jobs than they were earlier in the year. Of course, some are more worried than others about losing their jobs. When broken down by age, workers over 59 years old were the most worried about losing their jobs, while fears among those 40 to 59 went down a bit in November. Those under 40 also got a bit more worried about losing their jobs, although all age groups were less worried than they were in November 2021. However, workers with a high school education or less are less concerned about losing their jobs than workers with some college education or a BA and higher.

☆ The 25 big companies with the best cultures
▼ + stars: | 2022-12-12 | by ( Madison Hoff | ) www.businessinsider.com time to read: +3 min

1 in Comparably's list of the best company cultures among large firms. Therapy Brands ranked at the top of the Best Company Culture list focused on small and midsize companies. To create the Best Company Culture lists, the company used anonymous workers' ratings and responses from around the end of November 2021 to about the end of November this year. "It's clear from our research that company culture is being reinvented to a degree and at a pace not often seen in the past." Below are the top 25 companies that placed on the large list this year.

☆ The US is heading for a 'swamp' recession which could mire the economy in a disappointing and slow recovery
▼ + stars: | 2022-12-10 | by ( Madison Hoff | ) www.businessinsider.com time to read: +8 min

Kelly told Insider the recovery may be considered "tepid" given it will be a "mild improvement in things." David Kelly, chief global strategist for JPMorgan Asset Management, called it a "'swamp' recession" in a note, suggesting the "economy would likely struggle to get out of" what is potentially a mild recession. It's like standing on the edge of a swamp," Kelly told Insider. "The problem this time around is two-fold," Kelly told Insider. In short, Kelly told Insider that a modest recovery from a shallow recession could be viewed as "tepid" as it will be a "mild improvement in things."

☆ It's the best time to buy a used car in 16 months — as long as you don't have to take out a big loan
▼ + stars: | 2022-12-08 | by ( Jacob Zinkula | Madison Hoff | ) www.businessinsider.com time to read: +4 min

Used car prices have fallen to their lowest level since August 2021. As the Federal Reserve has raised interest rates in an effort to cool inflation, interest rates on car loans have risen in tandem. In October, the average annual percentage (APR) rate on used car loans rose to 9.6%, the highest level in over a decade. For those less reliant on financing for their car purchases, however, this could be their best chance to buy an affordable car in over a year. While the new car market is expected to cool off as well, used car prices continue to be where the best bargain is.

☆ December 8 is this year's Latina Equal Pay Day, or the day Latina workers finally earn what white men made in just 2021
▼ + stars: | 2022-12-08 | by ( Madison Hoff | ) www.businessinsider.com time to read: +4 min

That means it takes Latinas almost all of 2022 to make what non-Hispanic white men made in just 2021. Latinas earn 54% of what white men earn per Census Bureau data. NWLC's analysis of Census Bureau data show full-time, year-round working Latinas earned 57% of non-Hispanic white men's median earnings. That means an overall lifetime earnings loss for Latinas working full-time, year-round of almost $1.2 million, which can have serious consequences. "Latinas ask for promotions and raises at similar rates to white men, they're just not getting them," Sandberg said in a statement.

☆ These 20 companies are hiring a ton of tech workers
▼ + stars: | 2022-12-07 | by ( Madison Hoff | ) www.businessinsider.com time to read: +4 min

Career site Indeed put together a list with recent job posting data of the places hiring tech job seekers. Deloitte ranked at the top — with 1,774 new tech job postings per 1 million based on Indeed's data. Meta, Amazon, Twitter, Lyft, and other tech companies have recently announced layoffs. "Deloitte as a management and consulting company is doing quite well right now, and they need tech workers," Dobroski said. "They're not traditional tech companies, but they really assist and support and consult so many other companies that are trying to up level their tech presence," Dobroski said about the top three.

☆ The 11 most expensive cities in the world
▼ + stars: | 2022-12-06 | by ( Madison Hoff | ) www.businessinsider.com time to read: +5 min

Singapore and New York are the most expensive cities among the 172 analyzed in the survey. 1 most expensive cities in a recent ranking from EIU. Feldman said it "can be seen due to expensive prices in groceries, personal care, domestic help, and fashion." On the other side of the US from New York, Los Angeles and San Francisco in California are considered expensive cities. Below are the most expensive cities per the new report.

☆ Wall Street's top commentators are torn on what the Federal Reserve will do next. Here's what to know.
▼ + stars: | 2022-12-06 | by ( Phil Rosen | ) www.businessinsider.com time to read: +7 min

Traders are largely expecting policymakers to make a 50-basis-point rate hike, a smaller move than the previous four 75-basis-point increases. But next week's adjustment isn't what's top of mind for Wall Street's top Fed commentators — they're looking ahead to next year. To Bridgewater chief investment officer, Rebecca Patterson, the Fed would be justified in surprising markets by holding rates higher for longer. Sustained elevated rates are going to usher in dramatic changes to the economic landscape — and former Treasury Secretary Larry Summers agrees. The price cap on Russian oil is "immaterial" and won't make a significant difference on market pricing, according to Vanda Insights.

☆ Your job is probably safe, even in a recession. Employees are going to have the upper hand for years.
▼ + stars: | 2022-12-04 | by ( Jacob Zinkula | Madison Hoff | ) www.businessinsider.com time to read: +7 min

Declining immigration and an aging population could cause the labor shortage to continue in the years ahead. And the labor shortage may only get worse in the years ahead. Those slowdowns have already contributed to the current labor shortage, and will continue to do so for years to come. "But it's happening very slowly, and I don't think it explains what is particularly going on in the labor market right now." A steady decline in the US' working age population might not only create problems for businesses looking to grow.

That red-hot labor market might mean more economic woes later on as the Federal Reserve steps in. "Big picture here is that the labor market still has a lot of resilience," Nick Bunker, the economic-research director at Indeed Hiring Lab, told Insider. With the thriving labor market, Bunker said "the risk of an imminent recession is relatively low." While the job market is still hot, it's not growing at the same breakneck speed as it was last year. "I don't think this report changes the Fed's view of where the labor market is today," Zhao said.

☆ California's housing market is cooling off faster than any other US state, even though it's still really costly to buy a home there
▼ + stars: | 2022-12-03 | by ( Alcynna Lloyd | Madison Hoff | ) www.businessinsider.com time to read: +5 min

However, several cities, including San Francisco, Los Angeles and Sacramento, have all seen home prices fall by more than 5% from peak sale prices. Additionally, Stockton has seen its median sale price drop 4.8% from its peak. That brings California's total to seven metros out of the top 20 for the nation that have seen the most severe drop in housing prices. So far it appears that 2023 is likely to be an even slower year for the state's housing market, especially if locals continue to leave and move to more affordable states. The pullback in demand could ultimately result in the state's median home price declining 8.8% to $758,600, the report adds.

☆ The US jobs market keeps beating the odds, adding another 263,000 jobs in November
▼ + stars: | 2022-12-02 | by ( Madison Hoff | ) www.businessinsider.com time to read: +3 min

InsiderThe US gained 263,000 nonfarm payrolls in November, better than the 200,000 economists expected. November's gain shows ongoing strength in the jobs market. There were 263,000 nonfarm payrolls added in November, according to the latest release from the Bureau of Labor Statistics (BLS). But as we head to the end of 2022, the US labor market remains resilient." The "temperature is still high" in the labor market as Bunker told Insider after the last jobs report.

☆ A 10-year fight to raise the minimum wage has slashed the Black-White wealth gap in half in some states. The South still has a long way to go.
▼ + stars: | 2022-11-29 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +4 min

The federal minimum wage has been stuck at $7.25 for 13 years, despite attempts to raise it. The National Employment Law Project analyzed the impact of local hikes to the minimum wage since 2012. That year marked the first action by Fight for 15, a worker movement calling for a $15 minimum wage. But those disparities among workers in states with a higher minimum wage versus those in states still adhering to the federal minimum wage means that workers in the South are left behind, according to Lathrop. In Washington, DC the minimum wage is $16.10 an hour, but five states — Alabama, Louisiana, Mississippi, South Carolina and Tennessee — have no minimum wage, defaulting to the federal minimum.

☆ Here are the top 15 companies for job seekers looking for flexibility at work
▼ + stars: | 2022-11-28 | by ( Madison Hoff | ) www.businessinsider.com time to read: +4 min

Flexibility, such as remote work or flexible hours, can be a key benefit workers want in their job. According to a post from FlexJobs, a remote work job site, flexibility has different benefits. "On Indeed, job postings advertising remote work are above where they were prior to the pandemic, albeit their numbers have slightly decreased since their pandemic heights." People don't just want flexibility in terms of remote or hybrid work models but having flexibility in when they work. The following are the 15 companies that made Indeed's ranking of the most flexible companies.

☆ 36 high-paying jobs for people who don't like stress
▼ + stars: | 2022-11-26 | by ( Madison Hoff | ) www.businessinsider.com time to read: +1 min

One of the characteristics measured is stress tolerance, which O*NET describes as jobs requiring "accepting criticism and dealing calmly and effectively with high-stress situations." O*NET scores job characteristics like stress tolerance on a scale from 0 to 100, where a 0 means stress tolerance is not at all necessary for an occupation, and 100 suggests a job with a very high-stress environment. We ranked occupations from most to least stressful using O*NET's stress tolerance score, with lower scores indicating less stressful jobs. The above jobs were ranked from most to least stressful. In the case of a tied stress tolerance score, we ranked by average annual wages.

☆ The window is closing on corporate 'greedflation.' It's another sign that inflation is cooling off.
▼ + stars: | 2022-11-24 | by ( Jacob Zinkula | Madison Hoff | ) www.businessinsider.com time to read: +7 min

"US profit margins surged after the recession. "Greedflation" — the idea that companies are using inflation as an excuse to raise prices and boost profits — could be part of the explanation. But they have also taken advantage of circumstances to expand profit margins," said UBS Chief Economist Paul Donovan. To what extent soaring corporate profits are to blame for high inflation remains uncertain, but as inflation slows down, the negative CEO sentiment suggests some companies' profits are set to fall as well. In September, Federal Reserve Vice Chair Lael Brainard said retailers' profit margins "have risen significantly more than the average hourly wage that retailers pay workers."

☆ Is Gen Z working? It all depends on what you consider a 'job.'
▼ + stars: | 2022-11-24 | by ( Jacob Zinkula | Madison Hoff | ) www.businessinsider.com time to read: +7 min

It's taken time for Americans of all ages to return to work, but older Gen Zers are most lagging. It may all have to do with how Gen Z views a job versus a side hustle or gig work. And those answers could partially explain a question economists are puzzled over: Where have the Gen Z workers gone? While he's uncertain where the missing Gen Z workers have gone, he says childcare needs could be part of the answer. If Gen Z has embraced gig work over the corporate life, it could be among the reasons many of them say they're living paycheck to paycheck.

Search resuls for: "hoff"

25 mentions found