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☆ Inflation came in hotter than expected in March
▼ + stars: | 2024-04-10 | by ( Madison Hoff | ) www.businessinsider.com time to read: +2 min

March's year-over-year increase was forecasted to be a higher rate than February's rate. The forecast for March's year-over-year increase in the CPI was 3.4%, a higher rate than the 3.2% increase or the 3.1% increase in February or January respectively. The rate came in above the forecast and was higher than February's year-over-year change. CPI increased 0.4% in March from the preceding month — same as the 0.4% surge in February. AdvertisementAverage hourly earnings increased 4.1% year over year to $34.69 an hour in March, which fell short of the 4.3% year-over-year increase in February.

Persons: —, That's, Julia Pollak, Pollak Organizations: Consumer, Service, Bureau of Labor Statistics, Business Locations: March's, That's

☆ The strong U.S. job market is in a ‘sweet spot,’ economists say
▼ + stars: | 2024-04-05 | by ( Greg Iacurci | ) www.cnbc.com time to read: +2 min

The labor market has been resilient despite economic headwinds like higher interest rates. "There's still strong, broad-based job growth and real wage growth has been restored," Pollak said. The labor market is in a 'sweet spot'Employers added 303,000 jobs to payrolls in March, the U.S. Bureau of Labor Statistics reported Friday. Job growth in the first three months of 2024 — 274,000, on average — beats the 2019 pre-pandemic average by more than 100,000. "The labor market is settling into a sweet spot," said Nick Bunker, economic research director for North America at job site Indeed.

Persons: Lindsey Nicholson, Julia Pollak, There's, Pollak, Nick Bunker Organizations: Getty, U.S . Bureau of Labor Statistics, North America Locations: Queens , New York, U.S

☆ Remote workers who switch to in-office jobs are boosting their pay by as much as 30%, says new research
▼ + stars: | 2024-03-27 | by ( Morgan Smith | ) www.cnbc.com time to read: +5 min

Salaries for fully in-office roles are climbing in the United States. As of March 2024, hybrid roles pay $59,992 on average, in 2023, that number was $54,034, ZipRecruiter reports. Remote jobs now pay $75,327, but in 2023, they paid an average $69,107. Given how competitive the job market has been in recent months — especially for remote roles — Bui says it's a "fair trade-off." It's too soon to tell if higher salaries will be enough to convince people to choose an in-office job over a remote offer.

Persons: switchers, Johnny Bui, Bui, — Bui, it's, Julia Pollak, ZipRecruiter's, Pollak, It's Organizations: United States . Companies, CNBC, Visa, LinkedIn, Employees, Owl Labs, Employers Locations: United States, U.S, Austin , Texas

☆ The Fed still probably isn't ready to give Americans the interest rate cuts they're hoping for
▼ + stars: | 2024-03-19 | by ( Ayelet Sheffey | Madison Hoff | ) www.businessinsider.com time to read: +6 min

Still, the door is open for rate cuts later in the year. AdvertisementThe nation's central bank is gearing up to make its second interest rate decision of the year, and it probably won't be the relief many Americans want to see. AdvertisementStill, while Americans may not see an interest rate cut this month, they could see one later on this year. But I still think interest rate cuts of one form or the other are likely this year." A group of Democratic lawmakers are also urging Powell to develop a timeline in which Americans can expect to see rate cuts.

Persons: Jerome Powell, —, Mark Hamrick, Hamrick, Powell, there's, we've, Nick Bunker, Julia Pollak, Pollak, Congressional Progressive Caucus — Organizations: Federal, Service, Fed, Financial Services Committee, North America, Democratic, Congressional Progressive Caucus

☆ What kind of 'Barbie' are you? Here are the Barbieland jobs that most real-life women hold, according to government data
▼ + stars: | 2024-03-14 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

In the "Barbie" movie, the narrator says, "Barbie has a great day every day." As women's participation in the labor force has increased over the years, the group continues to face hurdles along the way. "We have the tightest labor market for women in the past 20-something years," Bustamante said. "As the labor market gets tighter and tighter and tighter, women's employment rises faster than men's," Pollak said. "To think of just the scale of construction employment and women are still such a marginal piece of that sector," he said.

Persons: Margot Robbie, Barbie, Julia Pollak, R, Bustamante, Pollak, " Pollak Organizations: Mattel, Warner Bros, U.S . Bureau of Labor Statistics, Roosevelt Institute, Census, National Women's Law, Warner Brothers Pictures Locations: New York, U.S

☆ Job growth beats estimates, unemployment rate hits 2-year high
▼ + stars: | 2024-03-08 | by ( Madison Hoff | Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

Read previewFebruary's job growth was strong and similar to January's revised job gain. According to Friday's news release from the Bureau of Labor Statistics, the US experienced job growth of 275,000 in February. Additionally, December's job growth of 333,000 stated in the February release was updated to 290,000 in the new report. Leisure and hospitality saw large job growth in February, with an increase of 58,000. Pollak also pointed out the large job gains seen in December and January were revised downward and an increase in the unemployment rate in February.

Persons: —, Labor Julie Su, Julia Pollak, Pollak, Nick Bunker, Bunker, That's Organizations: Service, Bureau of Labor Statistics, Business, Labor, BLS, North, Labor Statistics Locations: America, North America

☆ What to expect in Friday’s jobs report
▼ + stars: | 2024-03-07 | by ( Alicia Wallace | ) edition.cnn.com time to read: +9 min

New York CNN —Don’t be surprised if Friday’s jobs report shows that February’s employment gains were far below those reported for January. In fact, it would continue a history-making stretch of labor market expansion. Friday’s jobs report could very well provide a more reliable read on what’s actually happening in the labor market than the jobs reports of recent months’ past, Julia Pollak, chief economist at ZipRecruiter, told CNN. “And so, February might give us a better understanding of the underlying rate of job growth,” she said. What the other labor market data is showingOther economic data released this week reinforces the idea that the US labor market is cooling but remains on solid footing.

Persons: New York CNN — Don’t, Julia Pollak, autoworkers, what’s, hasn’t, Nixon, ” Ron Hetrick, Gus Faucher, stayers ”, Faucher, ”, ” Nela Richardson, outplacement, ” Andrew Challenger, Lydia Boussour, EY, “ Organizations: New, New York CNN, CNN, of Labor Statistics, PNC Financial Services, BLS, Labor, Boomers, ADP, Challenger, ”, Labor Department Locations: New York, US

☆ Jobs report Friday is expected to show a slowing but still healthy labor market
▼ + stars: | 2024-03-07 | by ( Jeff Cox | ) www.cnbc.com time to read: +6 min

If the forecast is close to accurate, it would mark a considerable downshift from January's explosive growth of 353,000, but still representative of a fairly vibrant labor market. "This is kind of a cautious labor market. ZipRecruiter's quarterly job-seeker survey showed expectations for the medium-term outlook hitting a series high, while applicants also indicated stronger levels of confidence in their financial wellbeing and current state of the labor market. A jobs market that remains red-hot could deter the Federal Reserve from cutting interest rates this year as expected. In its most recent survey of economic conditions, the Fed found that the ultra-tight labor market has loosened somewhat, but there are still active pockets.

Persons: Spencer Platt, Dow, Julia Pollak, they're, Pollak, Raphael Bostic, they've, Tom Gimbel, Jerome Powell, Gimbel Organizations: Chelsea Market, Getty, Labor Department, Dow Jones, Employers, Federal Reserve, Atlanta Fed, Challenger, Labor, Survey, LaSalle Network, Big Tech Locations: Manhattan, New York City, U.S, Covid

☆ As AI creates more 6-figure, remote work opportunities, 'the upside is high, but so are the risks,' experts say
▼ + stars: | 2024-02-12 | by ( Morgan Smith | ) www.cnbc.com time to read: +6 min

Mark Kashef had long considered finance the most stable, lucrative field you could work in — until the release of ChatGPT. Kashef adds that, in the long term, he wouldn't be surprised if AI surpassed finance in terms of job opportunities and earning potential. AI brings new fears and opportunities for workersEconomists and HR experts say the future of the AI job market is bright — but its success isn't guaranteed. "If you look at the descriptions for AI job postings, many of the roles are still very exploratory, alluding to building or testing new products," Pollak says. Several industries outside of tech have demonstrated a clear, consistent interest in hiring for AI jobs, including retail, finance, health care and education, Pollak notes.

Persons: Mark Kashef, ChatGPT, Kashef, it's, wouldn't, —, Julia Pollak, Pollak, Trey Causey, Causey, Ryan Sutton, Robert Half Organizations: Ottawa, Queen's University, Companies, Meta, Netflix, Amazon, Business Locations: —, Kingston , Ontario, ODAIA, Toronto

The year opened with a bang as employers added 353,000 jobs in January, far exceeding the most optimistic of forecasts. Revisions also raised the November job number to 182,000 and also added 117,000 more jobs to December. “The labor market is certainly cooling,” Brent Schutte, chief investment officer at Northwestern Mutual Wealth Management, said ahead of the report. “I think the labor market by many measures is at or nearing normal, but not totally back to normal,” Powell told reporters. But it is hard to contain the enthusiasm that a strong jobs report along with moderating inflation is good for most Americans.

Persons: “, ”, Becky Frankiewicz, isn’t, ” “ We’re, December’s downwardly, ” Brent Schutte, seasonality, Amy Glaser, Glaser, Chris Todd, ” Todd, Jerome Powell, ” Powell, “ It’s, Julia Pollak, ” Schutte Organizations: ADP, Northwestern Mutual Wealth Management, Adecco, BLS, Federal Reserve, Federal

☆ Here's where the jobs are for January 2024 — in one chart
▼ + stars: | 2024-02-02 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

The hiring was led by health care and social assistance, which added more than 100,000 jobs. If you include private education in that category, as some economists do, that total jumps to 112,000 jobs. The U.S. labor market continues to surprise economists and Wall Street with its resilience, as broad job gains in January led to employment growth of 353,000 . Health care job growth was boosted by 33,000 net hires in ambulatory health services and 20,000 in hospitals, according to the Bureau of Labor Statistics. Manufacturing employment jumped by 23,000 jobs after seeing little growth last year.

Persons: Julia Pollak, ZipRecruiter Organizations: Health, Bureau of Labor Statistics, BLS Locations: U.S

☆ The economy is roaring. So why do we keep hearing about layoffs?
▼ + stars: | 2024-01-31 | by ( Madison Hoff | ) www.businessinsider.com time to read: +5 min

Los Angeles Times, eBay, and UPS are three companies that have made recent layoff announcements. Despite cuts at big household names, the nation's layoffs and discharges rate has been steadily low. AdvertisementEmployees at the Los Angeles Times, eBay , Microsoft , and UPS are some of the workers impacted by recent layoff announcements in January. That sector had a layoffs and discharges rate of 0.8% in December, which is actually a small dip from the 0.9% in November. Zhao noted that "the scale here" means that this number probably isn't really going to change because of the recent layoff announcements.

Persons: —, Nick Bunker, Bunker, Julia Pollak, ZipRecruiter's, Daniel Zhao, Glassdoor, Zhao, that's, Kory Kantenga, isn't Organizations: Los Angeles Times, eBay, UPS, Service, Microsoft, Bureau of Labor Statistics, North America, Labor, LinkedIn

☆ ‘Positive’ labor market data can still feel awful for workers, job seekers. Here's why
▼ + stars: | 2024-01-30 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +2 min

Layoffs and discharges changed little at 1.6 million, remaining at a rate of 1% for the fourth consecutive month. In November, the hires rate fell to 3.5%, the lowest rate since 2014 outside of the Covid-19 pandemic recession. For all of 2023, the hires rate averaged 3.8%, making it only the 11th best year out of 23, she said. There were more job openings a few years ago because of the high turnover. From October to November, job opening rates decreased in four states, increased in two and were little changed in 44 states and the District of Columbia.

Persons: Julia Pollak, Pollak, Elise Gould, Gould, Bustamante Organizations: Getty, U.S . Bureau of Labor Statistics, Labor, Economic Policy Institute, Employers, District of Columbia, Bureau of Labor Statistics Locations: Montana, Arizona, Oregon, California, Connecticut

☆ Workers are sour on the job market — but it may not be warranted
▼ + stars: | 2024-01-29 | by ( Greg Iacurci | ) www.cnbc.com time to read: +2 min

Maskot | Digitalvision | Getty ImagesWorkers are sour on the job market — but that pessimism may be somewhat misplaced. So far in 2024, for example, big technology firms including Amazon, eBay, Google and Microsoft have announced job cuts. U.S.-based companies planned about 722,000 job cuts in 2023, almost double those announced in 2022, according to Challenger, Gray & Christmas, an outplacement and executive coaching firm. watch nowHowever, those recent headlines mask strength in the overall job market, economists said. "It's still a very robust and resilient labor market overall," Pollak said.

Persons: Daniel Zhao, Zhao, it's, Mark Zandi, Zandi, they've, Julia Pollak, " Pollak Organizations: Digitalvision, Getty Images Workers, Amazon, eBay, Google, Microsoft, Citigroup, Universal Music Group, U.S, Challenger, Moody's, Federal Reserve Locations: BlackRock, U.S

Today, remote work has declined from its levels of the pandemic but is still – depending on how broadly one measures it – three to four times as prevalent as it was in 2019. And remote work tends to be dominated by higher-educated employees, with nearly 40% of those holding advanced degrees hybrid or fully remote. In early January, LinkedIn’s Global State of Remote and Hybrid Work study found that at its peak, in April of 2022, the share of job postings that offered remote work reached 20.3%. The more enduring feature of remote work is now hybrid.”There are also substantial differences within industry and among countries. “You’re moving to where the housing is cheaper.”Not that it is all rosy when it comes to remote work.

Persons: ”, Kory Kantenga, Sandra Moran, Julia Pollak, Nick Bunker, Layla O’Kane, Lightcast, Morris Davis, Andra Ghent, Jesse Gregory, ” Goldman Sachs, Boyer, Brad Case, “ That’s, Software’s Moran Organizations: LinkedIn, Workforce Software, LinkedIn’s Global, Labor Statistics, North, “, Oxford University Press, Economic Studies, Rutgers University, Andra, University of Utah, University of Wisconsin, Ivory, Google, NASA, Middleburg Communities, Green Mountain Locations: U.S, Israel, Ghent, Real Estate, Santa Ana , California, LLC.org . New York, Huntsville , Alabama, Huntsville, Glendale , Arizona, Phoenix, Arlington , Texas, Dallas, Middleburg, San Francisco, New York, Charlotte, Raleigh , North Carolina, Orlando, Jacksonville , Florida, Houston, San Antonio , Texas, Florida, Texas, Vermont, Green Mountain State, California

☆ Layoffs from major companies to start the year have impacted thousands of workers. What to know if you're offered a buyout
▼ + stars: | 2024-01-25 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

Microsoft joined a list of big tech companies that announced major layoffs at the start of 2024. The technology company plans to cut about 9% its Gaming Unit headcount, amounting to 1,900 laid off workers, according to a memo obtained by CNBC. Earlier this week, EBay said it plans to let go 1,000 employees, or 9% of the company's staff. These announcements join a flurry of layoffs from tech behemoths like Amazon and Google . For example, explore options to work fewer hours or find ways to boost your buyout deal, they advise.

Persons: Suzy Welch, Julia Pollak Organizations: Microsoft, CNBC, EBay, Google, Finance, SAP Locations: German

☆ The No. 1 in-demand remote job companies are hiring for—it can pay over $100,000 a year
▼ + stars: | 2024-01-14 | by ( Morgan Smith | ) www.cnbc.com time to read: +2 min

The most sought-after remote job companies are hiring for isn't in tech, as you might expect. Accountant is the hottest work-from-home job on the market right now. Accountants claimed the top spot in FlexJobs' annual ranking of the top remote jobs in the U.S., thanks to increasing demand for these skilled professionals across several industries, including finance, health care and government. On ZipRecruiter, the share of open accountant roles that were remote jumped from about 8% in 2019 to nearly 20% in 2023, according to data shared with CNBC Make It. "There's a lot of oversight … you can't afford the legal liability of messing this up."

Persons: —, Julia Pollak, Pollak Organizations: Accountants, Baby Boomers, CNBC, of Labor Statistics Locations: FlexJobs, U.S

☆ Bill Ackman, taking a page from his Wall Street playbook, backs rebel candidates to join Harvard’s board
▼ + stars: | 2024-01-10 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

The move by Ackman takes a page out of the playbook that made him successful on Wall Street. Normally, candidates for the 30-member Harvard Board of Overseers are nominated by the university’s alumni association. However, Ackman is now backing four write-in candidates, all graduates of Harvard and Radcliffe College, Harvard Business School or Law School. “We truly feel called to do this now,” Leslie, who has spent 20 years in the US military, told CNN in a phone interview. Calls for change at HarvardNew members are elected to the Harvard Board of Overseers each spring.

Persons: Bill Ackman, Ackman, Claudine Gay, Logan Leslie, ” Leslie, Harvard, Leslie, he’s, “, He’s, Julia Pollak, CNN she’s, ”, Pollak, ZipRecruiter . Pollak, ” Ackman, Zoe Bedell, Alec Williams, Penny Pritzker, Jeffrey Sonnenfeld, Sam Lessin, Pritzker, Lessin, ” Lessin Organizations: New, New York CNN, Harvard University, Ackman, Harvard, Ivy League, Radcliffe College, Harvard Business School, Law School, CNN, US Navy, ZipRecruiter, Reuters, of, Navy Seal, Navy Reserves, Harvard Corporation, Gay, Yale Locations: New York, Ackman, Northern, South Africa, Eastern, of Virginia

☆ There haven't been this few job openings in 2 years. It's exactly what the Fed's been hoping for.
▼ + stars: | 2023-12-05 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

US job openings in October fell to their lowest level since 2021. In October, available job openings fell to 8.7 million from a downwardly revised 9.4 million in September. Driven largely by the retail sector, the number of job openings dipped from a downwardly revised 9.4 million job openings in September, to 8.7 million by the end of October, below the consensus forecast among economists surveyed by Bloomberg, and the lowest level since early 2021. AdvertisementThe latest job opening figures reinforce the case for a soft-landing scenario — job openings are moving higher yet the unemployment has remained relatively low. "By that ratio, a measure of labor market tightness often cited by Fed Chair Jerome Powell, the labor market has slackened substantially in recent months."

Persons: It's, —, Julia Pollak, Jerome Powell, Pollak, CME's Organizations: Service, Federal Reserve, Labor, Bureau of Labor Statistics, Bloomberg, Fed, ING, Barclays

☆ Job data suggests ‘soft landing’ is increasingly likely, economists say
▼ + stars: | 2023-12-05 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

Luis Alvarez | Digitalvision | Getty ImagesThe U.S. economy inched closer to a so-called "soft landing" after a new batch of labor data, economists said. Why a soft landing is like 'Goldilocks' porridge'Steaming bowl of oatmeal porridge, made with Irish oats, wheat berries and barley. A soft landing is like "'Goldilocks' porridge' for central bankers," Brookings Institution economists wrote recently. How the labor market fits inWhy the job market is already 'back into balance'The latest labor data added to encouraging news about a likely soft landing, economists said. Despite the large monthly decline, job openings are still 25% above their February 2020 level, she added.

Persons: Luis Alvarez, Jason Furman, Obama, Jon Lovette, Julia Pollak, Pollak Organizations: Digitalvision, Federal Reserve, U.S . Department of Labor, Labor, Harvard University, White House Council, Economic Advisers, Getty, Fed, Brookings, American Economic Association

☆ Return to office is 'dead,' Stanford economist says. Here’s why
▼ + stars: | 2023-11-30 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

"Return to the office is dead," Nick Bloom, an economics professor at Stanford University and expert on the work-from-home revolution, wrote this week. The share of paid work-from-home days has been "totally flat" this year, hovering around 28%, said Bloom in an interview with CNBC. "We are three and a half years in, and we're totally stuck," Bloom said of remote work. Why remote work has had staying powerThe initial surge of remote work was spurred by Covid-19 lockdowns and stay-at-home orders. While remote work is the labor market's new normal, there's significant variety from company to company, Pollak said.

Persons: Nick Bloom, Bloom, hasn't, Julia Pollak, Pollak, it's Organizations: Stanford University, Survey, CNBC, Census, Research, Finance, Employers Locations: U.S

☆ You're probably not getting a big raise this year. But don't worry, it's for the good of the economy.
▼ + stars: | 2023-11-09 | by ( Madison Hoff | ) www.businessinsider.com time to read: +5 min

Wage growth has slowed; average hourly earnings increased 4.1% year over year in October. That measure of wage growth has steadily slid from the almost 6% year-over-year increases in March 2022 and April 2022. Even with slowing wage growth, workers may finally be seeing their earnings catch up to the big spike in inflation. Year-over-year changes from BLS show there has been real wage growth in recent months, based on average hourly earnings outpacing CPI inflation. "I think if we continue to see wage growth moderate, hopefully inflation moderates even more, and we continue to see more workers getting more inflation-adjusted raises."

Persons: —, Julia Pollak, Lydia Boussour, Jerome Powell, Pollak, Nick Bunker, Bunker Organizations: Service, of Labor Statistics, Fed, Economics, Wells, Wells Fargo Bank, BLS, North America Locations: Wells Fargo

☆ Here’s how rising pay transparency is causing an employer compensation information ‘arms race’
▼ + stars: | 2023-11-06 | by ( Jared Mitovich | ) www.cnbc.com time to read: +1 min

Rising pay transparency is causing a new kind of competition among employers — and it's not necessarily for talent. Instead, the shift in employers opting to share salaries on job listings has sparked an "arms race" for better starting pay and other benefits, Julia Pollak, chief economist at ZipRecruiter, told CNBC. And more employers are also including a range of non-cash benefits, perks and flexibility options in their job postings, according to a recent ZipRecruiter survey on pay transparency. "We've seen a pretty dramatic uptick in the number of employers who are actually even including wages on our job postings," Stahle said. In addition, the tight labor market and pay transparency are acting as dual forces — with employers posting wages and benefits up front as a way to attract workers who have been difficult to draw in.

Persons: —, it's, Julia Pollak, Gen Z, Cory Stahle, Stahle Organizations: CNBC, Finance Locations: California, Colorado, Washington

Market-churning economic news is lacking this week, but that doesn’t mean Wall Street and the economy can rest easy. The political news heats up, with Donald Trump set to testify in his civil fraud trial in New York. And elections take place across the country on Tuesday that could show where the country stands politically one year out from the 2024 election. Meanwhile, a softer-than-expected jobs report on Friday had some analysts saying the economy was headed for a downturn. “The unemployment rate rose just a tenth to 3.9% in October versus September which the BLS called little changed,” he said.

Persons: Donald Trump, State Anthony Blinken, Bond, ”, Julia Pollak, ” Pollak, ” Chris Rupkey, Powell, ” Powell, “ Organizations: GOP, Hamas, State, West Bank, Federal Reserve, ZipRecruiter, Fed, Bureau of Labor Statistics, BLS, BCA Research Locations: New York, Miami, Israel, Iraq, Turkey, Washington

☆ Here's where the jobs are for October 2023 — in one chart
▼ + stars: | 2023-11-03 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

The October jobs report showed a cooling labor market in the U.S., with many sectors showing minimal or negative growth as the economy added a relatively meager 150,000 jobs overall. If private education was included in that category, as some economists choose to do, there would have 89,000 jobs added in that group. "It's usually a bad thing when job growth is led by the public service, but in this case it is long overdue. The private sector jobs recovery was much stronger and much faster than that of the public sector," said Julia Pollak, chief economist at ZipRecruiter. Information shed 9,000 jobs, while transportation and warehousing lost more than 12,000 jobs.

Persons: Julia Pollak, Pollak Organizations: of Labor Statistics, ZipRecruiter, Manufacturing, BLS, United Auto Workers, Detroit Locations: U.S

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