Americans collecting unemployment benefits hit 53-year low
American workers are enjoying historically strong job security two years after the coronavirus pandemic plunged the economy into a short but devastating recession.
American workers are enjoying historically strong job security two years after the coronavirus pandemic plunged the economy into a short but devastating recession.
With many industries slowed by labor shortages, companies have been jacking up wages to try to attract job applicants and retain their existing employees. Even so, pay raises haven’t kept pace with the spike in consumer prices.
In some cases, workers say rising costs—and the inability to keep up while on a fixed income—are factoring heavily into their decisions.
Wages also rose sharply, a sign that companies are competing fiercely to fill their open jobs. A record-high wave of quitting, as many workers seek better jobs, is also fueling pay raises.
Employers hired 6.7 million people in November, up from 6.5 million in October, the Labor Department reported Tuesday in its monthly Jobs Openings and Labor Turnover Survey.
Businesses that had been in COVID-19 lockdown mode for a year suddenly needed lots of employees to flip burgers, stock shelves and sell merchandise. Customers were back after restrictions were lifted and thousands of people were getting vaccinated.
The figures point to a historic level of turmoil in the job market as newly-empowered workers quit jobs to take higher pay that is being dangled by businesses in need of help.
A new report illustrates how the pandemic imposed a heavy toll on working women. It found one in three women over the past year had thought about leaving their jobs or “downshifting” their careers.
After two disappointing months of hiring, a key question overhanging Friday’s U.S. jobs report for October will be whether companies found more success this time in filling millions of open positions.
A not-for-profit workforce development initiative of the Central Indiana Corporate Partnership, Ascend Indiana is revamping the Ascend Network to better connect job seekers to career pathways and expand services to help bridge gaps in workforce needs.
Starbucks’ North America President Rossann Williams said the pay raises not only support workers but will enhance recruitment efforts in a challenging labor market. The company said it’s the third time in 24 months that it has raised workers’ pay.
To an extent that has surprised economists, many people who lost or quit their jobs during the pandemic recession have yet to look for work again despite a robust economic rebound that has left many employers desperate to hire.
Mantech International, a Virginia-based defense contractor with a burgeoning presence in Indiana, says a partnership with Purdue University’s online-learning division has helped the company grow its Indiana workforce.
About 100,000 seasonal workers will be hired nationwide, the retailer said Thursday, about 30,000 less than last year. Many of those workers will be offered jobs beyond the holiday season.
The package delivery company said Tuesday that its costs are up $450 million in the most recent quarter, as it paid higher wages as it got harder to find new workers and demand for shipping increased.
The numbers are staggering: The child-care services industry is still down 126,700 workers—more than a 10 percent decline from pre-pandemic levels, Labor Department data shows.
Amazon’s starting pay is still $15 per hour, but with labor markets growing so tight in regions of the country, the company said new hires could make as much as $22.50 an hour. It’s also paying sign-on bonuses of $3,000 in some places.
Economists have forecast that employers added 750,000 jobs in August, according to the data provider FactSet. That would represent a substantial gain, but below the roughly 940,000 jobs that were added in both June and July.
An estimated 137,857 Hoosiers were unemployed and seeking jobs in July, the state reported Friday. That’s was down from 138,192 in June.
The gap between openings and hiring suggests that firms are scrambling to find workers. Lingering health fears, difficulty getting child care at a time and expanded federal jobless aid may have kept some unemployed Americans from seeking work.