Experts say the wave of layoffs and pay cuts that first ravaged the service industry in mid-March are starting to erode management, upper-level and even executive jobs.
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Many of those workers already live paycheck to paycheck—and a disruption in the flow of those checks could set off long-term financial problems. Foreclosures, evictions, bankruptcies, repossessions and more.
Read MoreIndiana’s labor-force participation rate—the percentage of the state’s population that is either employed or actively seeking work—dipped from 65.3% in April to 65% in May.
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The recruiting technology company, which entered the local market with a single-employee office in 2014, began growing its Indianapolis operations after acquiring Canvas Talent Inc. in early 2019.
The pickup in hiring lowered the unemployment rate from 6.3% to 6.2%, the Labor Department said Friday in its monthly jobs report. That is down dramatically from the 14.8% jobless rate of April of last year, just after the virus erupted in the United States.
Economists have forecast that job growth reached 175,000 last month, according to data provider FactSet. That would mark a sharp improvement over an average of just 29,000 jobs a month from November through January.
Indiana’s unemployment rate has been doggedly retracing its steps in recent months from 16.9% in April, when the pandemic paralyzed sections of the economy.
The apprenticeship will enable high school students to attain soft skills, technical skills and relevant work experience in growing, high-demand industries.
The pace of Indiana’s steadily improving unemployment rate slowed considerably in September. Meanwhile, the state’s labor force participation rate and private employment numbers dropped.
The unemployment rate in Indiana rebounded dramatically in July, although the positive economic indicator was undermined by a drop in the state’s labor force.
The freeze announced Monday will apply to the H1-B visa category for highly skilled workers, the H4 visa for their spouses and the L visas companies use to transfer international employees into the United States.
A recent report concluded that 90% of the nation’s tech and innovation sector employment growth from 2005 to 2017 was generated in just five major coastal cities: Seattle, Boston, San Francisco, San Diego and San Jose, California.
A range of job market barometers will provide some of the most vital signals about the economy in the coming weeks and months.
But revisions to reported job growth in 2018 and 2019 show that the government overcounted by about half a million jobs.
With signs of a weakening economy spreading and financial markets gyrating, Friday’s monthly jobs report will be watched for any evidence that the turmoil might be threatening the critically important U.S. job market.
Retailers will likely have a tough time attracting holiday help again this year. Unemployment is near a 50-year low, and people can be pickier about where they work.
Two key indicators—hiring for temporary-help positions and weekly working hours—have declined this year even as unemployment has remained near a half-century low.
At 3.4%, Indiana’s rate remained lower than those of all neighboring states and the country as a whole.
In an era that has witnessed a steady loss of manufacturing jobs, wealth positions hold one major distinct advantage: Because these jobs require personal interaction, they are immune to the threat of automation and outsourcing.
The proposed 17% increase would bring the premiums paid by companies to a level recommended by the federal government, which is meant to prepare the unemployment fund for the next recession.
There are now 1.2 million more open jobs than there are unemployed Americans, a dynamic that suggests businesses will have to keep raising pay to attract and retain the workers they need.
Develop Indy, the economic development arm of Indy Chamber, is connecting businesses with PACE, a not-for-profit that helps people coming out of the criminal justice system re-enter the community.
Indiana’s labor-force participation rate rose from 65.2% to 65.3% in March, remaining ahead of the national rate of 63.2%.
