The decision to offer buyouts comes at an uncertain time for the auto industry, which is in the midst of a transition from internal combustion to electric vehicles. GM has a goal of selling only electric passenger vehicles by 2035.
For 20 straight months, employers have posted at least 10 million openings—a level never reached before 2021 in Labor Department data going back to 2000.
The online platform allows young job seekers ages 16-24 to connect with employers who can provide job opportunities, soft-skill development and job-readiness training.
Here’s a closer look at the economy’s vital signs at a perplexing time of high interest rates, still-punishing inflation and surprisingly strong economic gains.
Many of the tech firms that lobbied for more temporary visas for high-skilled immigrants are now firing these workers, leaving them with 60 days to find a new job or leave the country.
A trial of a four-day workweek, billed as the world’s largest, has found that an overwhelming majority of the 61 companies that participated from June to December will keep going with the shorter hours.
The Legislature is considering a bill that put Indiana on a list of more than a dozen other states that expressly prohibit or sharply limit non-compete agreements for physicians and other patient-care professionals.
January’s job growth far exceeded December’s 260,000 total and extended a streak of powerful hiring gains that raised concerns at the Federal Reserve about inflation pressures.
Despite the rising layoffs, the economy added 223,000 jobs in December, according to a different government report, reflecting the complex forces that seem to be pulling the labor market in competing directions.
Private payrolls increased 235,000 last month, led by small- and medium-sized businesses, according to data from ADP Research Institute in collaboration with Stanford Digital Economy Lab. The figure exceeded all but one forecast in a Bloomberg survey of economists.
The high number of vacancies suggest the Fed will continue raising its benchmark interest rate at its coming meetings to quell inflation. Those higher rates will also raise the cost of mortgages, auto loans and other consumer and business borrowing.
The Perry Township school board voted on Monday to end school choice for elementary students effective next school year to help alleviate a severe bus driver shortage, despite significant opposition from parents.
While the labor market remains tight, evidenced by last month’s better-than-expected increases in both jobs and wages, employers are gaining back some leverage just in time for the tough conversations between bosses and employees to begin.
The Federal Reserve is closely monitoring the figures on job openings and quits for signals about the strength of the job market.
The scaling back of remote-work policies is among the first and most visible signs of a changing job market.
Speaking at an IBJ economic forecast event Monday, a Fifth Third Bank economist said the chance of heading into another recession is “literally a toss-up, a coin flip.”
Musk is expected to proceed with plans to lay off about 50 percent of Twitter’s staff, according to people familiar with the matter.
The list of employees being eliminated includes personnel in management, finance, facilities, recruitment, marketing, technology and strategy.
America’s employers slowed their hiring in September but still added a solid number of jobs, likely keeping the Federal Reserve on pace to keep raising interest rates aggressively to fight persistently high inflation.
The smaller August gain will likely be welcomed by the Federal Reserve, which is rapidly raising interest rates to try to cool hiring and wage growth.
