The surprisingly strong jobs numbers will undoubtedly intensify the debate over whether the U.S. is in a recession or not.
Applications for jobless aid for the week ending July 30 rose by 6,000, to 260,000, from the previous week’s 254,000, the Labor Department reported Thursday.
The project stands to receive more than $70 million in state economic development incentives and will hinge on whether it lands federal funding though the Creating Helpful Incentives to Produce Semiconductors, or CHIPS, program.
While people taking on multiple jobs is typically a sign of a healthy job market where workers have more job opportunities available, it is also a sign of increasing financial strain on Americans’ pocketbooks.
The company and Gov. Laura Kelly announced the new project Wednesday, just hours after Kelly and eight top leaders of the Kansas Legislature signed off on a package of incentives worth $829 million over 10 years.
The surprisingly strong gain will likely spur the Federal Reserve to keep raising interest rates to cool the economy and slow price increases.
U.S. employers advertised fewer jobs in May as the economy has shown signs of weakening, though the overall demand for workers remained strong.
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.
The historically high number of unfilled jobs and the number of people quitting has forced employers to pay more to attract and keep staff. Those trends are driving solid wage gains for America’s workers, particularly those that switch jobs.
The Indiana National Guard’s cyber battalion is returning home from an out-of-state deployment this fall, and the Guard is seeking employers with Indiana jobs to offer the soldiers upon their return.
An estimated 72,191 Hoosiers are currently unemployed and seeking jobs, the state reported Friday. That’s down from 88,240 in December and 100,696 in November.
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.
Employers posted 11.5 million job openings in March, more evidence of a tight labor market that has emboldened millions of American workers to seek better paying jobs and contributed to the biggest surge in inflation in four decades.
Walmart said 957 of the people employed at the facility have accepted new jobs with the company, while 1,132 “have not accepted alternative positions.”
The expansion comes on top of more than 1,000 positions the drugmaker has added since Jan. 1, 2021, bringing its current Bloomington workforce total to more than 4,000, which includes employees and workers provided by staffing agencies.
When it comes to competing for jobs, Indiana is far behind the curve in critical ways, Eli Lilly and Co. CEO David Ricks told a lunch crowd Wednesday at the Economic Club of Indiana.
The government’s report Friday showed that last month’s job growth helped shrink the unemployment rate to 3.6%. That’s the lowest rate since the pandemic erupted two years ago and just above the half-century low of 3.5% that was reached two years ago.
In the last 12 months, job openings have increased 29% in cybersecurity, more than double the rate of growth between 2018 and 2019, according to Gartner TalentNeuron, which tracks labor market trends.