labor market

18 Stories

In Jobs Market, 'The Vibes Have Gotten Worse'

New York Fed survey shows churn in labor market with 1 in 4 respondents seeking new job

(Newser) - More Americans are looking for a new job and expecting to lose the one they have, according to the New York Federal Reserve's July consumer poll , released Monday. The survey, which has been polling roughly 1,000 Americans about work every four months since 2014, found 28.4% of...

Jobs Market Is Cooling, but With Few Layoffs

Companies are posting fewer openings, not cutting jobs

(Newser) - The nation's employers added a solid 187,000 jobs in August in a sign of a still-resilient labor market despite the high interest rates the Federal Reserve has imposed. The job growth marked an increase from July's revised gain of 157,000 but still pointed to a moderating...

Economist: The 'Great Resignation' Is Over

New trend finds that workers are staying put amid a cooling labor market, losing some of their leverage

(Newser) - The "great resignation" has ended, and with it some of the power that workers have lately leveraged over employers. The share of monthly job departures relative to total employment fell to 2.4% in April from 2.5% in March, the Bureau of Labor Statistics reported Wednesday. That's...

Labor Shortage Means This Group Is in Demand for Summer Jobs

Teens are in the driver's seat, with the ability to hold out for jobs with higher wages

(Newser) - Teens have long been vital to filling out the summertime staffs of restaurants, ice cream stands, amusement parks, and camps. Now, thanks to one of the tightest labor markets in decades, they have even more sway, with an array of jobs to choose from at ever higher wages, per the...

Amazon Ups Ante in Hiring, to Full Tuition

In a new hiring incentive, four-year degrees will be covered

(Newser) - Amazon's chief financial officer said this summer that to keep staffing up during the pandemic, "We're spending a lot of money on signing and incentives." The cost of staying hired up will be going up, after Amazon announced Thursday that it will pay the full cost...

Jobs Go Begging at Chinese Factories

Many migrant employees want something different or are just staying home

(Newser) - Like workers in the US, much of China's labor force is reconsidering its options, leaving factories across the country with openings. There are parallels to the situation in the US, with many workers shifting to higher-paying jobs, often in the service industry, and many migrants deciding to just stay...

Walmart to Pick Up Cost of Tuition for Employees

Workers in the program stay longer and are promoted more often, company says

(Newser) - Walmart is stepping up its effort to help employees wanting to earn college degrees by fully covering the cost of tuition and books. The company announced a nearly $1 billion five-year investment on Tuesday, the Washington Post reports, with employees able to pick from 10 academic partners like the University...

With Jobless Numbers, 'Recovery Appears to Be Underway'

But debate continues between GOP, Dems on whether to extend unemployment stimulus relief

(Newser) - America has started its economic recovery process, reopening businesses in phases across the nation, and the labor market numbers are beginning to reflect that. Per a Thursday release from the Department of Labor, the number of people drawing unemployment benefits for the week ending May 30 fell to 20.9...

Turns Out We Weren't Adding 200K Jobs a Month

Department of Labor revises job gains figures, with 501K fewer than previously estimated

(Newser) - It's not uncommon for the Department of Labor to revise job growth numbers. It actually does so annually, when, instead of using the surveys that help form those initial estimates, it reviews unemployment insurance records in each state to come up with more accurate figures. What is uncommon is...

What You Earn for Life Likely Set Before You're 30: Report

Federal Reserve Bank of NY says bulk of earnings growth happens in one's 20s

(Newser) - Those who like predicting how much they'll have by the time they retire may want to peruse the Federal Reserve Bank of New York's latest research. The bank's report , which analyzed the careers of 5 million workers over four decades, found that it's the first 10...

Eurozone Wants Greeks to Work 6 Days a Week

Demand likely to draw yet more resistance to austerity measures

(Newser) - If Greece's eurozone creditors have their way, a lot of people may be coming in to work on Sundays. In a leaked letter sent to Athens last week, the European Commission, European Central Bank, and IMF demanded that Greece "increase flexibility of work schedules" by allowing employers in...

In Amazon's Warehouse, Shades of Grapes of Wrath
In Amazon's Warehouse, Shades of Grapes of Wrath
Ezra Klein
Sep 29, 2011 1:00 PM CDT

In Amazon's Warehouse, Shades of Grapes of Wrath

LeHigh warehouse like something out of Grapes of Wrath , Ezra Klein observes

(Newser) - In the Grapes of Wrath, the Joad family gets a hard lesson in economics, when they follow a handbill for jobs to California—only to find there are no jobs. Why, he asks, did they put out the handbills? A fellow homeless man replies that if you’ve but one...

Unemployment Stuck at 9.6%
 Unemployment Stuck at 9.6% 
Nov 5, 2010 8:15 AM CDT

Unemployment Stuck at 9.6%

But it's the best jobs month since May, with a net gain of 151K jobs

(Newser) - US employers added the most jobs in five months in October, with the education and health care sectors leading the way. But the unemployment rate, measured by a separate survey of households, refused to budge. It remained stuck at 9.6% for the third straight month.

Fastest-Growing Careers in US
 Fastest-Growing Careers in US 
Jan 16, 2010 5:18 AM CST

Fastest-Growing Careers in US

Biomedical engineers, health aides will be in strong demand by 2018

(Newser) - Here are the careers projected by the Labor Department to have the fastest growth by 2018, as run down by the Boston Globe:
  1. Biomedical engineer: 16,000 in 2008; projected growth of 72%; median pay: $77,400.
  2. Network systems and data communication analyst: 292,000 in 2008; projected growth of
...

Unemployment Will Probably Miss 10%: Silver
Unemployment Will Probably Miss 10%: Silver
Analysis
Aug 10, 2009 11:52 AM CDT

Unemployment Will Probably Miss 10%: Silver

(Newser) - Lots of economists are predicting that unemployment, which at last count hung at 9.4%, will hit 10% before the calendar changes, but Nate Silver of FiveThirtyEight.com disagrees. For that to happen, the economy would need to lose another million jobs or so, and "the jobs picture is...

College Grads Face Years of Lower Wages

Economists pile on the bad news for the struggling class of '09

(Newser) - The recession will mean paltry pay for the Class of '09 for many years to come, economists tell the Wall Street Journal. College grads are entering the toughest labor market in 25 years and competition is driving down starting wages for those lucky enough to land jobs, an effect research...

Japan Pays Latin American Workers to Go, Stay Home

Plan hatched to ease recession burdens

(Newser) - Faced with rising unemployment, Japan is paying foreign workers to leave the nation for good, the New York Times reports. The offer targets some 366,000 Latin Americans of Japanese descent who perform undesirable manufacturing jobs. With industrial production at a 25-year low, many of them are out of work,...

Bernanke Signals New Rate Cuts
Bernanke Signals New Rate Cuts
Feb 27, 2008 9:15 AM CST

Bernanke Signals New Rate Cuts

Says central bank 'will act as needed' to further minimize economic risks

(Newser) - Federal Reserve Chairman Ben Bernanke today said that the board stands ready to cut interest rates again to give the economy "adequate insurance against downside risks," reports the Wall Street Journal. The move, which follows 2.25% in cuts to the key rate since September, is widely expected...

18 Stories