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☆ US weekly jobless claims post largest rise in 5 months; labor market still tight
▼ + stars: | 2023-03-09 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

"Even after factoring in the latest increase, jobless claims are exceptionally low by historical standards, underscoring just how tight labor market conditions still are," said Michael Pearce, lead U.S. economist at Oxford Economics in New York. The four-week moving average for new claims, a better measure of labor market trends as it irons out weekly fluctuations, climbed 4,000 to 197,000 last week. Claims had stayed below 200,000 for seven straight weeks, indicating that high-profile job cuts in the technology sector had not had a material impact on the labor market. Goldman Sachs believed residual seasonality accounted for about half of last week's rise in claims. The labor market is, however, cooling on the margins.

☆ Britain's early retired resist calls to work, despite higher living costs
▼ + stars: | 2023-03-09 | by ( David Milliken | ) www.reuters.com time to read: +8 min

The exodus of older workers has no equivalent in other advanced economies. "The best part of 90% of people who say they are early retired ... say that they will probably or definitely never work again." Based on data from before the pandemic, Britain's Resolution Foundation found the richest fifth of 50-59 year olds were 10 times likelier to retire early than the bottom fifth. Other companies say they value older workers for their experience. "Older workers are the ones that have got the skills - we don't find young people with the skills that we need.

☆ A business coach who quit her 9-to-5 and now makes $1 million in profit a year shares her pricing and marketing strategy
▼ + stars: | 2023-03-07 | by ( Pauleanna Reid | ) www.businessinsider.com time to read: +7 min

Jereshia Hawk is the founder of Leverage, an online coaching business for women of color. With the answers to those questions, Hawk founded Leverage, an online coaching business for service-based women of color working as entrepreneurs and coaches. Within 14 months her business revenue exceeded her corporate income, and she quit her job in July 2017. Hawk's marketing content is designed to reach prospects at different phases of awareness of her brand. Using video to draw in clientsAttracting clients who are able and eager to spend $15,000 on a coaching program requires careful and intentional marketing.

☆ Lumber prices are falling - and that means there's no need to fret about inflation, top economist David Rosenberg suggests
▼ + stars: | 2023-03-07 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +3 min

Falling lumber and natural gas prices are reasons not to fret over inflation, according to David Rosenberg. the veteran economist asked in a Monday tweet, saying it's maybe a problem in the services sector of the US economy. Rosenberg has repeatedly shrugged off inflation concerns as price pressures decline from their mid-2022 highs. US natural gas prices plunged 13% on Monday as a streak of mild winter weather hurt demand. That has seen price pressures ease somewhat in recent months, with the latest reading coming in at 6.4% through January.

☆ Biden's clean energy factory jobs may elude U.S. union workers
▼ + stars: | 2023-03-06 | by ( Nichola Groom | ) www.reuters.com time to read: +9 min

Right to work laws allow employees to work in union-represented workplaces and be covered by collective bargaining agreements without joining a union or paying dues. American products, he vowed, would be made with union labor. Union labor. Many of the jobs created will be union jobs, the official added. "It's not a favorable environment, but we can still organize," Samantha Smith, senior adviser for clean energy jobs at the AFL-CIO, said in an interview.

☆ Companies that give up stock buybacks for 5 years will get preferential treatment in $52 billion CHIPS program, Commerce Secretary Raimondo says
▼ + stars: | 2023-03-06 | by ( Chelsey Cox | ) www.cnbc.com time to read: +2 min

WASHINGTON — U.S. Commerce Secretary Gina Raimondo said companies that voluntarily agree to forgo stock buybacks for five years will get preferential treatment when the agency doles out $52 billion authorized under the CHIPS and Science Act. Raimondo said stock buybacks is one factor being taken into consideration as part of a $39 billion manufacturing subsidy program. The law also creates a 25% investment tax credit for building chip plants, estimated to be worth $24 billion. Beyond that, we're giving a preference to companies who voluntarily say they won't do a buyback for five years," Raimondo told CNBC's Sara Eisen on Monday. The Commerce Department began accepting applications for CHIPS funding at the end of February.

☆ Japan unions ask average 4.5% wage hike, biggest since 1990s
▼ + stars: | 2023-03-04 | by ( Kantaro Komiya | ) www.reuters.com time to read: +2 min

A survey of more than 2,000 unions nationwide showed an average 4.49% raise request for this year, first time above 4% since 1998's 4.36%, according to the Japanese Trade Union Confederation (JTUC). Despite the higher cost burden, major Japanese firms have promised large pay increases to retain skilled workers amid labour crunch. The JTUC preliminary survey showed the average union demand during this year's annual labour talks, called "shunto" in Japanese, was much larger than 2022's 2.97%. JTUC, commonly known as "Rengo", is the largest labour organisation in the country representing about seven million workers. Bank of Japan officials have said the outcome of the wage hikes is an important criterion to determine the future course of its ultra-loose monetary policy.

☆ High-speed train from Las Vegas to Los Angeles in the works after Brightline reaches agreement with unions on $10 billion project
▼ + stars: | 2023-03-04 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +3 min

Brightline announced a deal with rail unions to build a 218-mile, high-speed line from Las Vegas to Los Angeles. The company plans to connect Las Vegas to Southern California via rail capable of traveling 200 mph. A Las Vegas tourism website estimates that a trip from Los Angeles to Las Vegas by car takes an average of four hours, depending on traffic conditions. The rail line is set to run from Las Vegas to Los Angeles, according to the company's website. The press release said the rail line will have stops in Rancho Cucamonga, Apple Valley, and Hesperia, California.

[1/5] Elderly visitors enjoy the sunshine, at a nursing home of Lendlease's Ardor Gardens in Shanghai, China February 27, 2023. Lim says "stigma" around retirement homes in China is quickly disappearing. About 4% of people aged 65 and over in Britain live in retirement homes, according to information service Lottie. Ding Hui, China managing director at Australian real estate firm Lendlease (LLC.AX), expects demand for retirement homes to rise sharply in the next five to 10 years. Government-run nursing homes with basic facilities in Shanghai and Beijing are much cheaper, at about 2,000 yuan ($290) a month.

☆ Putin's top troops are being 'decimated' as Russia relies too much on so-called 'elite' forces to wage war in Ukraine
▼ + stars: | 2023-03-03 | by ( Jake Epstein | ) www.businessinsider.com time to read: +8 min

Several so-called "elite" Russian units have suffered heavy casualties on the battlefield in Ukraine. The 155th is only the latest so-called "elite" Russian unit to face serious setbacks on the battlefield. An abandoned Russian military tank left in the Ukrainian city of Balakliia after Russian Forces withdrew from the Kharkiv region on September 15, 2022. So I think it's much more of a blow to Russia's ground force's combat power than it is to their reputations." Russia's military leadership has at times faced criticism and even domestic outrage over its decision-making.

☆ I do private Botox parties as a fun and lucrative side gig. Here's how I got certified and what they're like.
▼ + stars: | 2023-03-03 | by ( Natalie Rahhal | ) www.businessinsider.com time to read: +7 min

Dr. Samantha Ellison worked at Botox parties on her days off as a traveling physician. Ellison says Botox parties can be really fun and lucrative, depending on how you market yourself. Botox parties are really laid-backA lot of these Botox parties occur in the evening, so it's popular to have a sleepover where people come in themed pajamas. Doing Botox parties can be really fun and lucrative, depending on how you market yourself and how good your network is. The biggest challenge of working as both a hospitalist physician and doing Botox parties is the mental switch it requires.

☆ College is still worth it, research finds — although students are growing skeptical
▼ + stars: | 2023-03-01 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

Ben Kirkhoff, a high school senior at Cretin-Derham Hall in St. Paul, Minnesota, knows that a four-year college degree isn't for him. Even though his parents have a college savings account for him, he said money is still a factor. Instead, Kirkhoff, who is 17, will attend Dakota County Technical College in Rosemount, Minnesota, next fall to become an electrician. Although Kirkhoff is the only one of his friends who decided against a four-year school next year, more high school students nationwide are questioning the value of college. More from Personal Finance:Apprenticeship programs are becoming more popularThe cheapest states for in-state college tuitionThe most-regretted college majorsFor decades, research showed that earning a degree is almost always worthwhile.

☆ Ukrainian soldiers say they caught a Russian medic forced to operate a tank, highlighting the dysfunction in Putin's army
▼ + stars: | 2023-03-01 | by ( Chris Panella | ) www.businessinsider.com time to read: +2 min

Ukrainian soldiers told the NYT they captured a Russian medic who was forced to operate a tank. The lack of skilled troops comes after a stinging defeat for Russia in a major tank battle. The Ukrainian soldiers told The Times that the medic had been reassigned to drive the tank during a three-week battle near Vuhledar in southern Ukraine. Ukrainian officials told the Times it was the biggest tank battle of the war so far and a decisive victory for Ukraine. A year into the war, Russia continues to face various setbacks, like unskilled troops, high losses, and limited resources.

☆ Electric vehicle maker Tesla to open office in Malaysia
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: 1 min

Companies Tesla Inc FollowKUALA LUMPUR, March 1 (Reuters) - Malaysia on Wednesday said electric vehicle (EV) maker Tesla Inc (TSLA.O) will open an office in the Southeast Asian country and establish a network of charging stations for its cars. Tesla's application to import battery-run EVs into Malaysia has been approved, and the company will also open showrooms and services centres, Malaysia's trade ministry said in a statement. The U.S. firm's presence in Malaysia is expected to create skilled jobs and increase participation of local companies in the Tesla ecosystem, the ministry said. Malaysia did not say when Tesla would open an office. Reporting by A. Ananthalakshmi; Editing by Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.

☆ 42% of IT professionals will quit in the next 6 months. Here's how the right software can help them avoid burnout.
▼ + stars: | 2023-03-01 | by ( Sponsor Post | Created Insider Studios With Goto | ) www.businessinsider.com time to read: +8 min

The right software can help businesses who can't find the staff they need. Worldwide the talent shortage could result in unrealized output of $449.70 billion. Alarming numbers underscore the fact that the talent shortage is everywhere. GoTo Resolve can help irrigate the IT desert by providing remote access troubleshooting, support, ticketing, and camera sharing a click away. Essentially, many of the services an enterprise needs to hire for can be procured through Rescue and GoTo Resolve.

☆ Boomers Greed Ruined Economy for Gen Z, Millennials
▼ + stars: | 2023-03-01 | by ( Alex Yablon | ) www.businessinsider.com time to read: +14 min

The boomers' economy is brittle, stingy, and built on undersupply. While inflation may be cooling a bit, future prosperity for millennials, Gen Zers, and beyond depends on reversing this economywide bottleneck created by boomers. Boomers shrank the labor force they need nowThe baby boomers ensured the labor market of the generations after them would be inadequate in a few major ways. The boomer ethos on housing, which views homes not as places to live but as financial assets, is mirrored in the rest of the economy boomers made. They make loans, investment, and housing more expensive — putting the economy on a diet instead of growing the pie.

☆ I've helped hundreds of people land 6-figure salaries. These 5 job interview phrases got them hired 'on the spot'
▼ + stars: | 2023-03-01 | by ( Natalie Fisher | ) www.cnbc.com time to read: +3 min

Example: Don't say: "I'm an excellent communicator." What to say instead: "In the past, I've been noticed for getting team members to communicate more efficiently. Example: Don't say: "I'm good in a crisis." Example: Don't say: "People feel comfortable around me." What to say instead: "I've developed a reputation of being a great boss, thanks to my collaboration skills.

☆ Factbox: Want billions to make US chips? Here is how to get them
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +4 min

[1/3] CMOS chips, are shown at the manufacturing facility of VAS, an electronics manufacturer in San Diego, California April 14, 2009. Chip giant Intel Corp (INTC.O) moved ahead with the ground breaking of a $20 billion chip factory in Ohio after the chips bill passed. The CHIPS Program Office will give "strong preference" to projects that are largely funded with private capital. The department also said that the workers hired to build plants or chips should be able to join unions. The CHIPS Program Office will require any company given more than $150 million to return money if it makes more than they projected.

☆ Mexican president gives green light to Tesla plant in northern Mexico
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +2 min

MEXICO CITY, Feb 28 (Reuters) - Electric vehicle maker Tesla Inc. (TSLA.O) will build a new plant in the northern Mexican city of Monterrey, President Andres Manuel Lopez Obrador said on Tuesday, dispelling concerns his government could block the deal over water shortages. Lopez Obrador said the two sides had reached agreement after a call with Tesla Chief Executive Elon Musk on Monday, following a separate conversation he said the two held late last week. "This will represent a considerable investment and many, many jobs," Lopez Obrador told reporters, saying Musk had been receptive to Mexico's concerns and accepted its proposals. Speaking at a news conference, Lopez Obrador said Tesla would likely give more details of its plans on Wednesday. Speculation about the prospect of Tesla going to Mexico has circulated for months, and the plant is set to become one of the major investments of the Lopez Obrador administration.

☆ EVs are billed as the future. But a potential skills gap is sparking concerns about cost and safety
▼ + stars: | 2023-02-27 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +5 min

Thanks to growing concerns about emissions from road-based transportation, several big economies are gearing up for another huge change: the mass rollout of electric vehicles. There are concerns, however, that a skills gap may emerge in the near future, creating a big headache for both the automotive sector and drivers. "Aligned to Auto Trader Insight predictions, this suggests the skills gap — when there won't be enough technicians to service the electrified vehicle parc — will appear in 2029," it added. "But fundamentally, electric vehicles are totally different to internal combustion engine vehicles," he said. 'Chipping away at the skills gap'

☆ Reshoring is accelerating—These stocks should benefit as companies return to the U.S.
▼ + stars: | 2023-02-27 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

Reshoring declarations are amping up, as more companies look to return operations to the United States from overseas. Corporate reshoring announcements jumped 17% in the fourth quarter compared with the prior quarter and are now tracking nearly 300% higher than the fourth quarter of 2021, according to UBS. In fact, reshoring and foreign direct investments jobs reached a record of at least 360,000 jobs last year, according to the Reshoring Initiative. The move back to the U.S . can also be seen in corporate earnings, said Ron Graziano, managing director of global accounting and tax for Credit Suisse. The company's equipment is needed for big semiconductor manufacturing plants as companies test chips as they are produced, Snyder said.

The city of Phoenix's aviation department, which runs the Phoenix Sky Harbor International Airport, has launched a childcare program for airport workers and plans to build a childcare facility on airport property. Since its launch, 37 airport workers have joined the program, which covers daycare costs partially. At Kelowna International Airport in British Columbia, Canada, construction is underway for a daycare primarily for children of employees who work on airport property. Cincinnati/Northern Kentucky International Airport is similarly weighing offering childcare on-site or nearby in a bid to offer attractive benefits to workers, said airport spokesperson Mindy Kershner. And then there are others - like Jared Barker, a 33-year-old baggage handler at Minneapolis–Saint Paul International Airport who quit and left the industry altogether last year after mass departures during the pandemic led to a heavier workload.

☆ ChatGPT could turn out to be hero for humanity or just a 'horrible product'. Here's what Elon Musk, Bill Gates and 10 heavyweights have to say on the red-hot AI.
▼ + stars: | 2023-02-25 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +9 min

Elon Musk, Bill Gates and Paul Krugman have all weighed in on the hottest topic this year – ChatGPT. From prominent names such as Elon Musk and Bill Gates to Wall Street banks like Morgan Stanley, everyone's got something to say. "It's both positive or negative and has great, great promise, great capability," Musk further said of AI, adding that "with that comes great danger." But a few quarters from now, if ChatGPT really starts to bring in significant subscriber fees, then we'll see what happens," O'Leary told Insider's Phil Rosen. Andy Jassy, Amazon CEO"I think it's exciting, what's possible with generative AI," Jassy said about generative AI and ChatGPT.

☆ Ukrainian refugees could help Germany's labor market, but not for long: They're 'ready to go home'
▼ + stars: | 2023-02-24 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +3 min

Germany's labor market is under pressure, but the recent influx of Ukrainian refugees is "no silver bullet" for the workforce issues. Germany's labor market is under severe pressure, and the recent influx of Ukrainian refugees is unlikely to solve the country's workforce issues in the long term. "If I compare to the previous asylum seekers, Ukrainians are clearly better educated and have integrated much faster into the German labor market," he added, noting that Germany is an attractive country for people looking to join the labor market. But Ukrainian refugees can't be expected to fill the gaps in the German labor market. Language barriersAround 60% of Ukrainian refugees in Germany perceived language barriers as the biggest challenge in their new environment, according to an OECD survey.

☆ Elon Musk's new Silicon Valley engineering headquarters will focus on AI, report says
▼ + stars: | 2023-02-23 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Elon Musk's new California headquarters will focus on artificial intelligence, CNBC reported. The EV maker will focus on hiring engineers proficient in fields including artificial intelligence. On Wednesday, Elon Musk announced that Tesla was expanding its engineering headquarters in California, taking over office space in Palo Alto once occupied by Hewlett-Packard. The outlet reported that Tesla would focus on hiring engineers skilled in fields including artificial intelligence. In an interview with CNBC, California governor Gavin Newsom said all the "elite engineers" in the industry were based in the state.

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