DIRS.INFO The most relevant business & tech news

☆ ‘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.

☆ Remote workers are clinging to work-from-home jobs, even if they aren't that happy
▼ + stars: | 2023-04-04 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

Joe, 37, is torn between leaving his job and clinging to the flexibility of remote work. Many remote workers like him have gotten used to the WFH lifestyle, and built lives around it. With remote job openings tapering off, more remote workers may be inclined to stay put. Even before the pandemic, remote workers tended to be happier and stay at their jobs longer than on-site workers. The share of remote postings could fall to 10% by the end of 2023, Stanford economist and leading work-from-home researcher Nick Bloom told Insider.

☆ The job market is cooling but remains 'red hot,' economist says. What to expect as a job seeker
▼ + stars: | 2023-04-04 | by ( Greg Iacurci | ) www.cnbc.com time to read: +1 min

The job market continued a gradual cooling in February but largely remains advantageous for workers, according to labor data issued Tuesday. There were about 1.7 job openings per unemployed worker, the lowest ratio since November 2021. Prior to 2021, job openings had never before reached 8 million. "The job market is cooling," said Daniel Zhao, lead economist at Glassdoor, a career site. Indeed, by any measure, the job market is hotter than it was in 2019 — which itself was known as a job seeker's market characterized by factors such as low unemployment and strong wage growth, Zhao said.

☆ Microsoft, Salesforce and SAP are still some of the best places to work in the world even after layoffs, according to Glassdoor
▼ + stars: | 2023-03-22 | by ( Morgan Smith | ) www.cnbc.com time to read: +3 min

Despite months of wide-sweeping job cuts across Silicon Valley, tech companies are still some of the best places to work in the world, according to recent research from Glassdoor. This year, only three companies appear in the top 25 for each of the five countries: Microsoft, SAP and Salesforce. Yet the employee reviews on Microsoft, SAP and Salesforce's Glassdoor pages remain overwhelmingly positive, even after the recent layoff announcements. Six months ago, pre-layoffs, Microsoft had an overall rating of 4.4 out of 5 stars, while SAP and Salesforce had overall ratings of 4.4 each. Check out:The 10 best U.S. places to work in 2023, according to GlassdoorI was VP at Google for 10 years.

☆ Payrolls increased by 517,000 in January, crushing estimates, as unemployment rate hit 53-year low
▼ + stars: | 2023-02-03 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

The unemployment rate fell to 3.4% vs. the estimate for 3.6%. Nonfarm payrolls increased by 517,000 for January, above the Dow Jones estimate of 187,000 and December's gain of 260,000. However, Chairman Jerome Powell, in his post-meeting news conference, noted the labor market "remains extremely tight" and is still "out of balance." "Today's report is an echo of 2022's surprisingly resilient job market, beating back recession fears," said Daniel Zhao, lead economist for job review site Glassdoor. "The Fed has a New Year's resolution to cool down the labor market, and so far, the labor market is pushing back."

☆ The current job market is a ‘juggernaut,’ economist says. Here are 6 things to know as a jobseeker
▼ + stars: | 2023-02-03 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Unemployment is at historic lowsThe unemployment rate fell to 3.4% in January — the lowest since May 1969. In fact, you'd have to go back to October 1953 to find a lower unemployment rate (3.1%). "The job market is still strong, and workers have opportunities to go out and find a job that's a better fit for them," Zhao said. "The thing that strikes me the most about the labor market is there aren't layoffs," said Mark Zandi, chief economist at Moody's Analytics. That's not necessarily a bad sign — the job market was also strong in the run-up to the pandemic.

☆ The unemployment rate is at its lowest since 1969
▼ + stars: | 2023-02-03 | by ( Juliana Kaplan | Andy Kiersz | ) www.businessinsider.com time to read: +3 min

The US added over half a million jobs and unemployment fell in January, according to the Bureau of Labor Statistics. The unemployment rate is now at its lowest since 1969, easing fears of a potential downturn. Indeed, hiring was booming so much that the unemployment rate fell to 3.4%. That's the lowest rate since 1969. That's right: The US hasn't seen an unemployment rate this low since the moon landing.

☆ 96% of workers are looking for a new job in 2023, poll says: What to know before you job hop
▼ + stars: | 2023-01-13 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

In fact, the difference in wage growth for job switchers relative to those who stay in their current role is at a record high. The latest data shows job switchers have seen 7.7% wage growth as of November, while workers who have stayed in their jobs have seen 5.5%, according to Daniel Zhao, lead economist at Glassdoor, citing data from the Atlanta Federal Reserve. watch nowAlthough there is a chance that the job market will cool as recession fears take hold, recent government data shows the U.S. labor market is still strong, with a record low unemployment rate of 3.5%. Key considerations before taking a new jobThere are other things to consider besides salary before accepting a new position, Safani said. Workers can have both — a higher salary and a positive, healthy work environment.

☆ How Google, Bain & Company have stayed on this best places to work list for 15 years
▼ + stars: | 2023-01-13 | by ( Ashton Jackson | ) www.cnbc.com time to read: +2 min

And since the awards began in 2009, only two companies have made the cut every year: Bain & Company and Google. This year, Bain & Company ranked third on the Best Places to Work list, behind Gainsight and Box. Top review highlights on the platform show that Bain & Company boasts "great teams, benefits, people, colleagues, and culture." White and Asian workers rated Bain & Company 4.7 stars out of five, while Black employees gave the firm 4.4 stars. On the other hand, employee reviews on Bain & Company also cite a lack of work/life balance.

☆ Meta and Apple are no longer among the best places to work, according to a new Glassdoor ranking
▼ + stars: | 2023-01-11 | by ( Grace Kay | Madison Hoff | ) www.businessinsider.com time to read: +4 min

Meta and Apple fell off Glassdoor's list of best places to work for the first time in over a decade. Other tech companies like Google, LinkedIn, and Microsoft made the top 20 of this year's list. While Meta and Apple fell off the list, tech companies still dominated the US rankings, accounting for 40% of the organizations on the list. Top tech companies like Microsoft, LinkedIn, and Google made the top 20. There are some tech companies that entered the list," Zhao said.

☆ For the first time in over a decade, Apple and Meta aren't on Glassdoor's 100 Best Places to Work list
▼ + stars: | 2023-01-11 | by ( Ashton Jackson | ) www.cnbc.com time to read: +4 min

For years, Apple and Meta have been deemed the creme de la creme of tech companies, with employees raving about their culture, values, benefits and perks. As Glassdoor releases its 100 Best Places to Work report of 2023, both companies are absent from the list. To determine the list, Glassdoor analyzed anonymous reviews posted by employees on the platform. Daniel Zhao, a lead economist at Glassdoor, says Apple and Meta's absence from this year's list is "pretty striking." This drop off has made way for newcomers to join the Best Places to Work List, including Spotify, the Lego Group, and Gainsight.

☆ If you want higher pay, your chances are better now than in 6 months, says expert: 'Make your moves as soon as possible'
▼ + stars: | 2023-01-09 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Higher pay has been needed to keep up with inflation. Wage growth, based on average hourly earnings, is up 4.6% from a year ago. watch now"People who switch jobs are much more likely to be getting a raise above inflation than people who are staying in their jobs," Zhao said. But with a possible economic downturn looming, workers seeking higher pay face a more complex decision as to whether to stay or go. With pay rates so competitive now, even some laid-off workers are finding higher offers than what they were earning before, according to Pollak.

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.

☆ Tech layoffs may not be a bad omen for U.S. economy at large
▼ + stars: | 2022-12-02 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Many tech layoffs were announced in November, meaning they may show up in the next JOLTS report, said Daniel Zhao, lead economist at Glassdoor. There were about 10.3 million job openings in October. Further, the ratio of job openings to unemployed individuals is about 1.7 — meaning available jobs are almost double those of people looking for work. However, total job cuts in 2022 are the second-lowest on record, trailing only behind last year, according to the report. Meta CEO Mark Zuckerberg alluded to this dynamic in a recent letter to employees explaining job cuts, which impact more than 11,000 workers.

☆ Mass tech layoffs might look scary, but here's why your job is probably safe — even if a recession strikes
▼ + stars: | 2022-11-13 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +5 min

Tech experts told Insider that's unlikely to happen, given how tight the labor market remains. But a recession will cause unemployment to rise, and it might take longer to find a new job. Industry experts told Insider that most employers simply can't afford to lay off large swathes of workers if they want to make it out the other side. Daniel Zhao, the chief economist at Glassdoor, told Insider that the recent tech layoffs alone weren't enough to move the unemployment figure yet, but were still a signal of sorts. Nick South, a managing director at Boston Consulting Group, told Insider this means employers are still struggling to find enough high-caliber talent.

☆ The Great Resignation isn't paying off like it was this summer
▼ + stars: | 2022-11-12 | by ( Madison Hoff | ) www.businessinsider.com time to read: +4 min

The Atlanta Fed's Wage Growth Tracker shows wage growth for job switchers has slowed. However, wage growth is still stronger for job switchers than job stayers. However, wage growth for job switchers was still above overall wage growth in October of 6.4%. Although wage growth may have slowed from this summer for job switchers, it's still higher than the growth of their peers who have stayed in their positions. "As the economy slows, job switchers will increasingly have to make the trade-off between higher pay for less job security."

☆ Welcome to the new labor market, where everyone still quits all the time and some people will just never come back to work
▼ + stars: | 2022-11-06 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +5 min

The US labor market includes millions of Americans quitting in near-record numbers month after month. Cyclical and structural changes are affecting labor force participation, according to one expert. At the same time, the labor market is still bustling, even as it starts to slowly cool. The US labor force participation rate plunged during the pandemic to 60.2% in April 2020. Some people are just staying on the sidelines, and not heading back to the labor force — adding to the labor shortage and the tight labor market businesses are dealing with.

The latest data on jobs from the Bureau of Labor Statistics shows a still-robust labor market in the US. With inflation continuing to soar in the US, the Federal Reserve has moved aggressively to combat high prices by hiking interest rates. But on Friday, new data from the Bureau of Labor Statistics showed that the labor market continues to be strong. As Insider previously reported,the Fed's high interest rates would cause companies to slow their hiring plans, and therefore lead to smaller pay gains for workers. Looking ahead, all eyes are on the Fed's December meeting when it will announce its next round of interest rate hikes.

☆ The companies that won that war for talent during the Great Resignation had one major thing in common: they offered paid leave
▼ + stars: | 2022-10-26 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

During the pandemic, workers with paid leave were more likely to stay in their roles. They were also more likely to get raises and promotions, suggesting that paid leave helps with retention. At companies that didn't offer paid leave, employees were three to four times more likely to quit than at companies with the benefit. In one company the report analyzes, over a third of female hourly workers without access to paid leave quit in 2020. Workers who took leave quit less frequently than workers who didn't.

Fewer job openings may sound bad, but in this moment it's a good sign for the economy. But chairs started being pulled away at a much faster pace in August, which could give job seekers a wake-up call. "If there are 100 chairs and 50 workers, workers are cool, man!" Companies are putting up record job openings, but they're not saying when — or even if — they'll fill them. That's frustrated some job seekers as they apply to multiple roles and never hear back.

We don't want surprises right now with the economy and with the labor market," Daniel Zhao, lead economist at Glassdoor, told Insider. The unemployment rate fell to 3.5% through the month, beating the median forecast of 3.7%. After a transcendent recovery and more than a year of a so-called labor shortage, the labor market is easing up. The shift into a more normal labor market will likely charge well into 2023. Still, the central bank's own projections spell out an unappealing outlook for the labor market.

☆ Jobs report: The US job market remains robust, but is showing signs of cooling
▼ + stars: | 2022-10-07 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

Minneapolis CNN Business —The fever hasn’t broken yet for America’s employment market, but the temperature is coming down. That, coupled with job openings showing some sharp declines, points to a labor market slowdown — an outcome the Federal Reserve is seeking as it battles decades-high inflation. “The job market is slowing gracefully, moderating jobs and wage growth smoothly as the Federal Reserve searches for signs of cooling inflation,” Daniel Zhao, senior economist for Glassdoor, said in a statement. What could, however, move the needle will be the findings from the inflation data due next week, he said. Job openings outpace job seekers on a 1.7 to 1 ratio, the BLS’ Job Openings and Labor Turnover Survey for August showed.

☆ The number of US job openings fell by more than 1 million in August
▼ + stars: | 2022-10-04 | by ( Alicia Wallace | ) edition.cnn.com time to read: +4 min

The number of job openings dropped to just under 10.1 million, down from 11.2 million in July, according to data released Tuesday by the Bureau of Labor Statistics. Jay Powell is fist pumping at that job openings number. — Nick Bunker (@nick_bunker) October 4, 2022Economists were expecting job openings to fall to just 10.8 million, according to estimates on Refinitiv. Practically every industry saw a decline in job openings, indicating a broader slowdown, he said. “The key concern for the medium-term US inflation outlook is the extreme imbalance in the labor market,” he wrote.

☆ Some jobs won't recover from the pandemic recession. It could be a good thing for workers.
▼ + stars: | 2022-09-17 | by ( Ben Winck | Madison Hoff | ) www.businessinsider.com time to read: +6 min

The US is back to record-high employment, but the labor market looks nothing like it did in early 2020. For starters, many in-person service sectors are still struggling to get back to the employment levels seen before the pandemic. Transit and ground passenger transportation, which includes school buses and public transit, is also still not back to pre-pandemic employment either. "I think overall, accommodation and the broader leisure and hospitality industry will return to pre-pandemic employment levels," Zhao said. The changing labor market could be good for workersThe labor market shakeup isn't necessarily a bad thing.

☆ There's a surprising upside to inflation: Workers in 8 states will get a raise
▼ + stars: | 2022-09-13 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +4 min

In eight states, the minimum wage rises to track year-over-year inflation from August to August. But there's one silver lining of inflation still lingering high in August: Minimum-wage workers in a handful of states are set to get raises. "Worker wages are in fact declining in real value, and so indexing the minimum wage to inflation helps alleviate the challenges posed by inflation." The minimum wage will remain $7.25 in many states, thoughThe inflation-linked increases will also only widen the chasm in pay for minimum wage workers in states that haven't touched their minimum wage in years. A recent study found that increasing the minimum wage to $15 an hour would lift 7.6 million people out of poverty.

Search resuls for: "Daniel Zhao"

25 mentions found