From Amazon to Microsoft to Twitter and many others, tech companies nationwide have announced more than 200,000 layoffs since the start of the year. But is a different story emerging in Indiana?
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.
The company said in a regulatory filing Wednesday that the layoffs were a response to “macroeconomic conditions and changing customer priorities.”
The FTC proposal is based on a preliminary finding that noncompete clauses quash competition in violation of Section 5 of the Federal Trade Commission Act. Section 5 bans unfair methods of competition.
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 firm says the expansion likely will result in 68 new jobs at the beverage production facility along Interstate 69.
Applications for unemployment benefits are a proxy for layoffs, and viewed with other employment data, shows that American workers are enjoying extraordinary job security at the moment, despite an economy with some glaring weaknesses.
Host Mason King is joined by Rob Lowe, Republic’s vice president of people and culture, and Alisha Spires, senior manager of talent acquisition for pilot recruiting, to discuss the barriers that women and people of color face when they consider aviation careers, and what Republic is doing to widen those horizons.
The layoffs mark a tumultuous new period in Silicon Valley, as tech giants long known as bastions of economic power and recession-proof have shed huge numbers of workers in recent weeks.
The industry’s job cuts come as tech firms warn of recession risk and race to cut costs after pandemic-era hiring binges.
The report suggests demand for workers remains robust despite rapid interest-rate hikes and a darkening economic outlook. Layoffs, while rising, are still historically low, and competition to fill millions of vacant positions has driven rapid wage gains.
The company had been expected to choose either Ohio, where it has a plant in Marysville, or Indiana, where it has a plant in Greensburg, for the battery factory. It announced Ohio as the location on Tuesday.
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.
U.S. job openings plummeted in August, likely a welcome sign for Federal Reserve officials as they seek to cool demand for workers without triggering a spike in unemployment.
The mantra of energy experts has been that we need to electrify everything. But installing all of that stuff—the solar panels, the heat pumps, the transmission lines—will require something that the United States doesn’t have: lots and lots of electricians.
On average, recipients of the state’s Manufacturing Readiness Grants added five new jobs as a result of the technology investments.
The number of Americans collecting traditional unemployment benefits fell by 19,000 the week that ended Aug. 13, to 1.42 million.
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.
