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☆ How Indeed is using AI to better match employers and job seekers while keeping humans at the center of hiring
▼ + stars: | 2023-10-24 | by ( Sponsor Post | Created Indeed With Insider Studios | ) www.businessinsider.com time to read: +7 min

Embracing AI to create matchesThough AI has powered Indeed job searches from the very beginning, it's now matching employers and job seekers in new and exciting ways. When a job seeker views a posting, Indeed uses hundreds of millions of salary data points to estimate the pay for that job and helps the job seeker view how that pay matches their expectations. Indeed has spent the past two years building and fine-tuning an AI-powered job description generator that is incredibly simple and effective. Employers can specify pay, and our AI will compare that pay with local listings and job seeker preferences to recommend competitive pay ranges. This uses generative AI to automatically compose a personalized message to the job seeker, explaining why their job is right for them.

Persons: ChatGPT, Chris Hyams, it's, We're, we've, you'll, " Hyams Organizations: Insider Studios

☆ The 3 in-demand soft skills candidates are 'most lacking in,' according to ZipRecruiter
▼ + stars: | 2023-10-23 | by ( Morgan Smith | ) www.cnbc.com time to read: +4 min

Hiring managers are less and less impressed by where you went to college — or if you have a four-year degree at all. Nearly half — 45% — of companies have dropped degree requirements for some roles this year, according to new research from ZipRecruiter, which surveyed more than 2,000 U.S. employers. Instead, companies are prioritizing skills over education: 42% of companies are now explicitly using skills-related metrics to find candidates, LinkedIn told CNBC Make It in June, up 12% from a year earlier. "Employers have the perception that younger generations are no longer picking up these important soft skills at school or at college," she explains. Between 2021 and 2022, when companies were desperate to fill vacancies, many lowered their recruiting standards, hiring more "novice employees" lacking these important soft skills, says Pollak.

Persons: Julia Pollak, Marissa Morrison, Morrison, Pollak, Gen, Amanda Augustine, you've, Augustine Organizations: CNBC, Harvard Business, Glass Institute, Employers, Society for Human Resource Management, Global Locations: ZipRecruiter

☆ Fed Chair Powell to deliver remarks during uncertain moment for the US economy
▼ + stars: | 2023-10-19 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —Federal Reserve Chair Jerome Powell is set to deliver remarks during a moderated discussion hosted by the Economic Club of New York at 12 pm ET on Thursday. The yield on the benchmark 10-year US Treasury note reached its highest level since 2007 on Wednesday, while 30-year Treasury yields breached the 5% mark. That’s a welcome development for the Fed, but officials aren’t quite yet ready to declare victory. Inflation is still above the Fed’s 2% target, and officials have said they need to see further evidence of the economy cooling. Employers added a robust 336,000 jobs in September, while the unemployment rate held at a low 3.8% that month.

Persons: Jerome Powell, Philip Jefferson, That’s, ”, Mary Daly Organizations: DC CNN — Federal, Economic, of New, Treasury, ” San Francisco Fed, Traders, Commerce Department Locations: Washington, of New York, June’s, ” San, Israel

☆ Want a job in AI? 4 tips from hiring leaders at IBM, Nvidia, and AI startups on how to land one.
▼ + stars: | 2023-10-18 | by ( Aaron Mok | ) www.businessinsider.com time to read: +9 min

Companies are hiring for AI talent as they seek to cash in on the generative AI hype. Insider spoke to four hiring leaders to get their advice on how to land a job in AI. Since OpenAI launched ChatGPT last November, generative AI technology has taken the corporate world by storm. Here are 4 tips from hiring leaders on how to increase your chances of landing a job in AI. 2) Demonstrate your interest in AI during the interview — and be able to prove itIf you're lucky enough to land an interview, be prepared to talk about your interest in generative AI.

Persons: —, OpenAI, ChatGPT, it's, Lindsey Duran, Chris Foltz, Flavien Coronini, Coronini, Alex Shapiro, Jasper AI, Shapiro, they've, there's, Jasper, Duran, Foltz Organizations: Service, Venture, Netflix, Employers, IBM, Nvidia, Jasper Locations: Jasper

The cost of health coverage through work jumped this year, in part because of inflation, according to a survey of U.S. employers. Later this fall, companies begin their annual coverage enrollment window for 2024, and health care experts say another price hike could be coming. The wider economy has felt those two pressures for more than a year, and now they are starting to affect health care costs, said Gary Claxton, a senior vice president with KFF. Fronstin said health care provider consolidation also can drive up care costs, which ultimately affects premiums. He also thinks the U.S. health care system — with its limited capacity to treat people — is still catching up on providing care that was delayed during the COVID-19 pandemic.

Persons: KFF, “, ”, Paul Fronstin, Fronstin, Gary Claxton Organizations: Research Institute, Employer, Companies, KFF, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP Locations: United States, paychecks

☆ Remote work is still 'frustrating and disorienting' for bosses, economist says—their No. 1 problem with it
▼ + stars: | 2023-10-17 | by ( Morgan Smith | ) www.cnbc.com time to read: +3 min

Remote work has plummeted from its pandemic high. Remote work's gradual decline reflects the ongoing push from companies to get employees back in the office: 43% of companies have set tighter limits around remote work or mandated some form of return-to-office over the past year, ZipRecruiter reports. Although some bosses have recognized the benefits of remote work — and studies have shown that employees are often more productive and less likely to quit when they have some degree of workplace flexibility — many are still hesitant to adopt remote work permanently. "It's an incredibly challenging, frustrating and disorienting time for employers when the tool they relied on most, observing employees in-person, is gone," ZipRecruiter chief economist Julia Pollak tells CNBC Make It. "The challenges with remote work aren't going to be solved overnight, but making that change is a strong start."

Persons: Goldman Sachs, Julia Pollak, Pollak, haven't Organizations: Business, Meta, CNBC, Workers Locations: U.S, ZipRecruiter

Retail sales increased 0.7% in September, driven by nonstore retailers and spending at food and drinking establishments, the Census Bureau reported on Tuesday. Even after stripping out autos, as some analysts do, the increase was 0.6%, way above estimates of a 0.2% gain. As long as those trends remain positive, consumers will feel they have the wherewithal to continue shopping. “Consumer spending has been fairly flat over the last two months,” according to Bank of America Institute’s Consumer Checkpoint October report. However, the wages and salaries of higher-income households are still growing at slower rates than other income cohorts.”Many retailers will be looking to the critical holiday season for a boost in sales.

Persons: ”, Ted Rossman Organizations: Census, Bankrate.com, “, Federal Reserve, Employers, Labor Department, Bank of America, ” Bank of America, Cyber, Signifyd’s Commerce

☆ I'm a nanny for high-profile, high-net-worth families. Here's my advice for those who want to pursue a career like mine.
▼ + stars: | 2023-10-14 | by ( Katie Hawkinson | ) www.businessinsider.com time to read: +5 min

Tré Moment works as a nanny for high-profile and high-net-worth families. AdvertisementAdvertisementThis as-told-to essay is based on a conversation with Tré Moment, a childcare professional and business owner who has worked with high-profile and high-net-worth families since 2015. My career as a nanny for high-net-worth families is just as fun as it is unpredictable. You also have to be prepared for anything with high-profile or high-net-worth clients — but that experience is invaluable for your career. AdvertisementAdvertisementMoment told Insider that people looking to nanny for high-profile families should be prepared for last-minute travel.

Persons: —, It's, I've, haven't, they're, there's Organizations: Service Locations: Atlanta , Georgia, Mexico, Jamaica, Western Europe

☆ Why a Gen Xer who worked remotely for 15 years is now looking for an in-office job
▼ + stars: | 2023-10-10 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +4 min

A Gen Xer is looking for an in-person job after not working in an office for 17 years. Though he hasn't secured a new role yet, he wants to return to a close-knit, in-person office. In 2021, the software architect quit a remote job he'd held for 15 years. Employers are figuring out what sort of hybrid structure works best for productivity and team cohesion, though the Gallup study showed hybrid work is here to stay. Swanson's story shows that while some workers are sure they will never return to a 9-to-5 office job, others are craving face-to-face interaction with coworkers.

Persons: hasn't, —, Grant Swanson, I'm, Swanson, biked, Gallup, — Swanson, he's Organizations: Service, Gallup, San Locations: San Francisco, blindspots

"This quarter is all about higher interest rates for longer," said Mike Mayo, an analyst at Wells Fargo. "There is a constructive environment, and investment banking fees tend to be higher through the end of the year," said Jason Goldberg, a banking analyst at Barclays. Despite the renewed optimism, investment banking activity remains depressed. As rates rise, bond prices fall, representing losses on paper that would be realized if the banks sold the bonds. More broadly, "we're back into this environment where investors think interest rates are going to remain higher for longer," he said.

Persons: JP Morgan Chase, Mike Segar, JPMorgan Chase, Goldman Sachs, Morgan Stanley's, Mike Mayo, Ebrahim Poonawala, Jason Goldberg, Richard Ramsden, James Demmert, Ramsden, Tatiana Bautzer, Saeed Azhar, Lananh Nguyen, Nick Zieminski 私 Organizations: JP, Co, REUTERS, JPMorgan, Citigroup, Wells, Bank of America, Federal Reserve, Wall Street, SoftBank's Arm Holdings, Barclays, U.S, Treasury, Valley Bank, Federal Deposit Insurance Corporation, Reuters, Street Research Locations: New York, Wells Fargo, dealmaking, Israel, Bengaluru

☆ U.S. employers covering weight-loss drugs could nearly double in 2024 - survey
▼ + stars: | 2023-10-09 | by ( ) www.reuters.com time to read: +2 min

A 0.25 mg injection pen of Novo Nordisk's weight-loss drug Wegovy is shown in this photo illustration in Oslo, Norway, August31, 2023. The survey of 502 employers by Accolade (ACCD.O), a company that provides healthcare programs for employers, and research firm Savanta said 43% of the employers it polled could cover GLP-1 drugs in 2024 compared to 25% that cover them now. Nearly all the companies that are covering GLP-1 drugs plan to keep covering them next year, according to the survey. Employers that cover weight-loss drugs are facing a spike in their healthcare costs because of the growing popularity of Wegovy. Benefits consultant Aon (AON.N) said 1 percentage point of the 8.5% increase in employer healthcare costs it predicted for next year would be driven by employee take-up of weight-loss drugs.

Persons: Victoria Klesty, Savanta, James Wantuck, Ozempic, Eli Lilly's, Leroy Leo, Shinjini Organizations: REUTERS, Novo Nordisk, Accolade, Employers, Novo, Novo Nordisk's Wegovy, Thomson Locations: Oslo, Norway, August31, Victoria, Novo, Novo Nordisk's, United States, Bengaluru

☆ US restaurant employment recovers to pre-pandemic levels
▼ + stars: | 2023-10-06 | by ( Amina Niasse | ) www.reuters.com time to read: +2 min

NEW YORK, Oct 6 (Reuters) - U.S. restaurant employment reached pre-pandemic levels in September for the first time in three-and-a-half years, according to a report released Friday, signaling a potentially broader recovery for the leisure and hospitality industry. The gains in restaurant and bar employment last month were almost double the average of 37,000 jobs added monthly over the past year. Food service employment was among the most impacted by the COVID-19 pandemic. While the food industry has picked up in payrolls, leisure and hospitality overall has struggled to regain pre-pandemic levels of employment in a tight labor market. The hotel accommodations and the amusement and gambling services industries remain below their February 2020 employment levels, with hotel employment still 10% below where they were on the eve of the health crisis.

Persons: ”, Julie Su, Amina Niasse, Rod Nickel Organizations: of Labor Statistics, BLS, Employers, Labor, Workers, Thomson Locations: payrolls

☆ Low weekly jobless claims, shrinking trade deficit boost US economic picture
▼ + stars: | 2023-10-05 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

Trade balanceExports of goods and services increased 1.6% to $256.0 billion. Goods imports dropped 0.9% to $256.0 billion amid declines in imports of consumer and capital goods, potentially flagging softening domestic demand amid higher borrowing costs. Cell phones and other household goods accounted for the drop in consumer goods imports. The decrease in capital goods imports reflected declines in semiconductors and electric apparatus. Services imports increased $0.1 billion to $58.4 billion, supported by travel and other business services.

Persons: Andrew Kelly, Christopher Rupkey, Unadjusted, nonfarm payrolls, Oscar Munoz, Goldman Sachs, Veronica Clark, Lucia Mutikani, Chizu Nomiyama, Andrea Ricci Organizations: REUTERS, Federal Reserve, Labor Department, Reuters, Employers, Institute for Supply Management, United Auto Workers, UAW, Ford, General Motors, Chrysler, Treasury, Challenger, Labor, Securities, Commerce Department, Goods, Services, Citigroup, Thomson Locations: Manhattan , New York City , New York, U.S, WASHINGTON, New York, Ohio, California

☆ US employers announce fewer layoffs in September, report shows
▼ + stars: | 2023-10-05 | by ( Amina Niasse | ) www.reuters.com time to read: +2 min

Announced job cuts by U.S.-based employers totaled 47,457 last month, down about 37% from 75,151 in August, outplacement firm Challenger, Gray & Christmas said in the report. The announced layoffs were the largest since 2020, the first year of the coronavirus pandemic, on a year-to-date basis, the report said. Employers most frequently cited market uncertainty as a reason for the layoffs last month, followed by the closure of businesses, units or stores. In September, employers announced plans to add 590,353 jobs, up from the 380,014 announced hires in September 2022. The majority of these positions fill seasonal hiring needs, the Challenger report said.

Persons: Elizabeth Frantz, Andrew Challenger, Amina Niasse, Paul Simao Organizations: REUTERS, U.S, Employers, Bureau of Labor Statistics, Labor, Survey, Challenger, Thomson Locations: Arlington , Virginia, U.S

Slightly more Americans applied for jobless claims last week, but layoffs remain low and the labor market continues to show resiliency amid elevated interest rates imposed by the Federal Reserve. Applications for unemployment benefits ticked up by 2,000 to 207,000 for the week ending Sept. 30, the Labor Department reported Thursday. Jobless claim applications are considered a proxy for the number of layoffs in a given week. Though the unemployment rate ticked up to 3.8%, it’s still low by historical measures. Overall, 1.67 million people were collecting unemployment benefits the week that ended Sept. 23, about 5,000 fewer than the previous week.

Organizations: Federal Reserve, Labor Department

BANGKOK (AP) — Asian markets were sharply lower on Wednesday after Wall Street tumbled as it focused on the downside of a surprisingly strong job market: the likelihood that interest rates will stay high. Expectations that interest rates will stay high are pressuring stocks as Treasury yields rise in the bond market. High yields also make borrowing more expensive for companies and households across the economy, which can hurt corporate profits. Investors increasingly are taking the Federal Reserve at its word that it will keep its main interest rate high for a long time in order to drive down inflation. Several other challenges are also tugging at Wall Street besides higher yields.

Persons: China Evergrande, Australia's, Dow, Stocks, Brent, Shunichi Suzuki Organizations: Nikkei, Dow, Nasdaq, Big Tech, Microsoft, Nvidia, Treasury, Federal Reserve, Fed, New York Mercantile Exchange, Japanese Finance Locations: BANGKOK, South Korea, Hong, China, Bangkok, Japan

[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. "It has all the hallmarks of intervention in all honesty," said Michael Brown, market analyst at Trader X in London. The dollar fell 0.71% to 149.165 yen hovered near break-even against the euro . The yen is a particular casualty of the dollar's march to 10-month highs and the rise in Treasury yields, given a yawning gap between U.S. and Japanese interest rates. Gold prices languished near a seven-month low, weighed down by a robust dollar and elevated bond yields as the likelihood of U.S. rates staying higher for longer dominated sentiment.

Persons: Brendan McDermid, Michael Brown, Ronald Temple, Raphael Bostic, Bostic, Shunichi Suzuki, Suzuki, Brent, Ankur Banerjee, Jamie Freed, Susan Fenton, Jan Harvey, Deepa Babington, Cynthia Osterman Organizations: New York Stock Exchange, REUTERS, Global, Federal Reserve, Trader, Labor, Survey, Lazard, U.S, Dow Jones, Nasdaq, Atlanta Fed, Thomson Locations: New York City, U.S, London, New York, Japan, Singapore

☆ US job openings jump in August; quits rate unchanged
▼ + stars: | 2023-10-03 | by ( Lucia Mutikani | ) www.reuters.com time to read: +4 min

The jump reported by the Labor Department in its Job Openings and Labor Turnover Survey, or JOLTS report, on Tuesday snapped three straight monthly declines in job openings. There were 1.5 job openings for every unemployed person in August and the quits rate was unchanged. Data for July was revised higher to show 8.920 million job openings instead of the previously reported 8.827 million. Economists polled by Reuters had forecast 8.800 million job openings in August. The job openings rate increased to 5.8% from 5.4% in July.

Persons: Elizabeth Frantz, Jeffrey Roach, Lucia Mutikani, Andrea Ricci, Paul Simao Organizations: REUTERS, Federal Reserve, Labor Department, Labor, Survey, Fed, LPL Financial, Reuters, Treasury, Thomson Locations: Arlington , Virginia, U.S, WASHINGTON, Charlotte , North Carolina, State, Hollywood

NEW YORK (AP) — Wall Street is sinking sharply Tuesday as it focuses on the downside of a surprisingly strong job market. Stocks fell as the pressure on them cranked even higher from rising Treasury yields in the bond market. Tuesday's report on the U.S. job market could give the Fed more reason to keep rates high. They and other high-growth stocks are seen as some of the biggest victims of high interest rates. The resumption of student-loan repayments could drag on spending by U.S. households, which has been strong enough to help keep the economy out of a recession despite high interest rates.

Persons: Stocks, Michelle Bowman, ”, Yung, Yu Ma, McCormick, China Evergrande, Eli Lilly, Brent, Matt Ott, Elaine Kurtenbach Organizations: Dow Jones, Nasdaq, Treasury, Federal Reserve, Fed, BMO Wealth Management, Big Tech, Microsoft, Nvidia, Nikkei, AP Business Locations: Wall, China, South Korea, Europe

☆ Here's an exclusive look at the pitch deck two former VCs used to raise $4.7 million in funding for their startup The Grand, whose coaching service is used by Googlers, founders, and NBA players alike
▼ + stars: | 2023-10-03 | by ( Melia Russell | ) www.businessinsider.com time to read: +4 min

In the midst of a funding crapshoot for young startups, The Grand, a four-year-old startup that provides career coaching as a service, has raised $4.7 million in a round of seed funding led by Alexis Ohanian's Seven Seven Six. You could say founders Anita Hossain Choudhry and Rei Wang had a leg up on creating the pitch deck they used to convince venture capitalists to back their startup. The goliath of coaching startups is BetterUp, a startup that offers individual and group coaching and has raised $600 million in funding so far. The Grand is now walking in lockstep with roughly 1,000 members, including Googlers, founders, and pro athletes. Check out the pitch deck that The Grand used to raise $4.7 million in seed funding.

Persons: Alexis Ohanian's Seven, Anita Hossain Choudhry, Rei Wang, Hossain Choudhry, Wang, Oscar, it's Organizations: Google, Intuit, Angel City Football Club, NBA, Carta Locations: Ohanian, lockstep

U.S. applications for unemployment benefits fell to their lowest level in eight months last week as the labor market continues to show strength in the face of elevated interest rates. U.S. applications for jobless claims fell by 20,000 to 201,000 for the week ending Sept. 16, the Labor Department reported Thursday. Jobless claim applications are seen as representative of the number of layoffs in a given week. Though the unemployment rate ticked up to 3.8%, it’s still low by historical measures. Overall, 1.66 million people were collecting unemployment benefits the week that ended Sept. 9, about 21,000 fewer than the previous week.

Organizations: Labor Department, Federal Reserve Locations: U.S

Benefit consultants from Mercer, Aon (AON.N) and Willis Towers Watson (WTW.O) see employer healthcare costs jumping 5.4% to 8.5% in 2024 due to medical inflation, soaring demand for costly weight-loss drugs and wider availability of high-priced gene therapies. Benefit consultants help design insurance plans for medium and large employers. About two-thirds of U.S. workers receive benefits through such plans.Insurers UnitedHealth (UNH.N), Centene (CNC.N), Cigna (CI.N) and Elevance (ELV.N), which manage employer insurance plans, declined to comment for this story. Of its projected 8.5% increase in employer healthcare costs for next year, Aon anticipates 1 percentage point coming from weight-loss drugs alone. Gene therapy treatment of just one employee could significantly raise costs for a company, consultants said.

Persons: Srdjan, Willis Towers Watson, Mercer, Marsh McLennan, Beth Umland, Aon, Novo's Ozempic, Eli Lilly's, Janet Faircloth, Jodi Picoult's, Khushi Mandowara, Leroy Leo, Caroline Humer, Bill Berkrot Organizations: U.S, REUTERS, Reuters Graphics, Novo, Reuters, Employers, Thomson Locations: Ljubljana, Mercer, Aon, United States, Bengaluru

☆ Pay secrecy norms have ‘simply lost their teeth,’ say experts. Here's why
▼ + stars: | 2023-09-18 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

Westend61 | Westend61 | Getty ImagesNew York just adopted a pay transparency ruleNew York on Sunday became the latest state to adopt a pay transparency law. The pay transparency movement is relatively new. Fifty-six percent are more likely to apply for a company — even if they don't recognize the company name — if the salary range is listed, Indeed found. For one, pay transparency may lower overall wages of the broader population of employees, even while raising them for the "inequitably underpaid," Obloj and Zenger said. 'There's still plenty to negotiate' beyond salaryOf course, applicants aren't necessarily beholden to the salary or the pay range posted on a job ad, Woodruff-Santos said.

Persons: NCSL, Salary.com, Zenger, Mandi Woodruff, Santos, Woodruff, you've, they've, there's Organizations: Westend61, Getty, Sunday, Employers, National Conference of State Legislatures, National Women's Law Locations: York, California , Colorado, Washington, New York City, Colorado, Ithaca, Albany, Westchester, New York, Jersey, New Jersey, Cincinnati, Toledo, Ohio ; Maryland ; Connecticut, Rhode, Nevada

U.S. applications for jobless claims rose by 3,000 to 220,000 for the week ending Sept. 9, the Labor Department reported Thursday. Jobless claim applications are seen as representative of the number of layoffs in a given week. Though some measures of inflation have retreated significantly — from as much as 9% down closer to 3% — since the Fed starting raising interest rates, the job market has held up better than most expected. Theough the unemployment rate ticked up to 3.8%, it's still low by historical measures. Overall, 1.69 million people were collecting unemployment benefits the week that ended Sept. 2, about 4,000 more than the previous week.

Organizations: Labor Department, Federal Locations: U.S

☆ 3 LinkedIn red flags that could cost you a job: 'Don't post when you're emotional, upset or angry'
▼ + stars: | 2023-09-11 | by ( Gili Malinsky | ) www.cnbc.com time to read: +3 min

These days, having a LinkedIn profile can be critical to getting a job. If you haven't created a LinkedIn profile yet, don't wait. "To not have any established presence online could be concerning to an employer," says Angelina Darrisaw, career coach and founder and CEO of C-Suite Coach. Here are three LinkedIn red flags to avoid on your profile according to career experts. 'A lot of overlapping job titles'Recruiters also notice inconsistencies in your job experience.

Persons: Angelina Darrisaw, you'll, you've, Phoebe Gavin, doesn't, Octavia Goredema, Darrisaw Organizations: LinkedIn

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