Employment market shows signs of cooling amid rate hikes
Job openings have been edging lower since April as rising inflation tightens its grip on businesses and crimps consumer spending.
Employment
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IBJ Podcast: Can you afford to quit your job and be part of the Great Resignation?
Host Mason King talks with Peter “Pete the Planner” Dunn about how to prepare financially to leave your job. Plus, Pete offers a prediction about the stock market as the year comes to a close.
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Clusters of immigrants common at some workplaces
A 2014 study found that, on average, 37% of immigrants working in urban America had co-workers who were also immigrants.
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Pay cuts, layoffs hit white-collar workers, too
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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Low-wage workers have least cushion during coronavirus crisis
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.
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Articles
Indiana unemployment rate inches up in June
Meanwhile, the state’s labor force participation improved from 62.6% in April and 62.9% in May to 63.1% in June, which was slightly higher than the 62.2% national rate.
Americans filing jobless claims at highest level in 8 months
The government also reported earlier in July that U.S. employers advertised fewer jobs in May amid signs that the economy is weakening, though the overall demand for workers remained strong.
U.S. added 390,000 jobs in May as hiring remained robust
The job growth in May was high enough to keep the Federal Reserve on track to pursue what’s likely to be the fastest series of rate hikes in more than 30 years.
Hiring might have slipped last month to a still-strong level
The May jobs report the government will issue Friday coincides with inflation near a four-decade high and worries about higher borrowing rates and a potential recession roiling the stock market.
Red-hot summer job market awaits U.S. teens as employers sweat
Researchers predict an average of 33% of youths ages 16 to 19 will be employed each month from June through August this year, the highest such rate since 34% in the summer of 2007.
U.S. wage increases show signs of peaking in welcome sign for Federal Reserve
After handing out hefty salary increases over the past year, companies are now becoming more cautious with their cash over concern further big payouts will eat into profits, according to staffing companies, business owners and recent surveys.
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.
U.S. added 428,000 jobs in April despite surging inflation
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.
Millions who retired early during pandemic now returning to work, new data shows
In some cases, workers say rising costs—and the inability to keep up while on a fixed income—are factoring heavily into their decisions.
U.S. jobless rate sinks to 3.9% as many more people find jobs
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.
Record 4.5 million Americans quit their jobs in November
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.
2021 Year in Review: The year’s toughest job: Finding enough workers
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.
For 2nd straight month, Americans quit jobs at a record pace
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.
Citing burnout, women have been slow to return to U.S. workforce
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.
October jobs report expected to show pickup in hiring
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.
Ascend Indiana using $23.8M to revamp its online job network
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 raising U.S. workers’ pay as union effort looms
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.
Puzzle overhanging job market: When will more people return?
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.
Defense contractor ManTech International partners with Purdue on workforce development
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.