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.
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 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.
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.
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.
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.
In some cases, workers say rising costs—and the inability to keep up while on a fixed income—are factoring heavily into their decisions.
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.
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.
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.
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.
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.
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.
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’ 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.
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.
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.
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.
About 100,000 seasonal workers will be hired nationwide, the retailer said Thursday, about 30,000 less than last year. Many of those workers will be offered jobs beyond the holiday season.
