Will New York’s empty offices become housing?
As office towers sit empty and demand for housing soars, developers are looking to transition former workspaces.
Economic indicators
Americans are still leaving the workforce
The labor force participation rate fell for a third straight month.
Amazon will lay off about 10,000 employees, NYT reports
The job cuts will be the largest ever for the online retailer.
Americans struggle to switch jobs as U.S. job market cools
More than 70% of those looking for a new role said it was more difficult than they had anticipated.
Core U.S. inflation hits 40-year high
The numbers put extra pressure on the Federal Reserve to raise interest rates even more aggressively to stamp out inflation.
Benefits Think How advisers can help clients maximize financial wellness offerings
Developing educational tools will help employees understand benefits, increase ROI and strengthen partnerships in the quest to retain talent.
Kristen Carlisle
Betterment at Work
Job openings drop to lowest levels since June 2021
This shift is likely a welcome sign for Federal Reserve officials as they seek to cool demand for workers without spiking unemployment.
Jobless claims fall to lowest since late April
The drop was led by a sizable decline in Michigan, indicating continued demand for workers despite economic concerns.
Goldman Sachs plans to cut several hundred jobs starting this month
Since the start of the pandemic, Goldman Sachs is starting its largest round of job cuts yet with several hundred jobs lost.
Child-care spending nears pre-COVID levels, Bank of America reports
The data could be seen as an encouraging sign for the labor market as parents get back to work.
Biden’s student-loan relief adds new wrinkle to inflation debate
The plan will ripple through the economy as personal spending and savings shift.
U.S. jobless claims rise again, near highest since November
The demand for workers is decreasing amid hiring freezes and layoffs, unemployment claims have increased as a result.
U.S. inflation runs cooler than forecast, easing pressure on Fed
Inflation decelerated in July by more than expected, reflecting lower energy prices.
U.S. productivity falls for a second quarter, labor costs surge
Labor costs are staying elevated, which could prolong inflation in the U.S.
Qantas asks execs to temporarily work as baggage handlers to ease labor crunch
Qantas COO is asking office employees to step into service roles like luggage hauling because of stubborn labor shortages at airports.
Meta delays job offers for summer interns, making Gen Z sweat
In the face of a recession, companies are freezing recruitment, cutting jobs and tightening budgets.
Labor hoarding holds key to how severe a U.S. recession may get
Considering how tough of a time businesses had in securing workers during a labor shortage, the question is now how staffing will work in the face of a recession
Worried you’re going to lose your job? Here’s what to do
An approaching recession means that employees need to be prepared for layoffs
U.S. job openings fall to 10.7 million, lowest since September
The number of job openings in the U.S. fell to its lowest in nine months.
Shopify cuts jobs, joining Netflix and Apple in slowdown
Tech companies are reevaluating their staffing needs by instituting hiring freezes, rescinding offers and making rounds of layoffs.
