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Racial inequality has been under a harsh spotlight in the U.S. since the George Floyd, an unarmed black man, died at the hands of a white police officer in Minneapolis, sparked days of continuing nationwide protests.
The disparity raises the prospect that women’s gains in the labor market and efforts to reduce the gender pay gap are being undermined by the lockdown.
Young people entering the labor market during a recession can suffer the fallout for years because they struggle to find a job or have to take one that doesn’t match their educational background.
The Labor Department’s figures are projected to show a jobless rate surging to 16%.
The more than 26 million people who have filed unemployment claims in the past five weeks provide only a partial picture of workforce dislocations, with tens of millions more facing additional risks.
The International Labour Organization expects 195 million full-time job losses globally, and forecasts a “significant rise” in underemployment.
During recessions, not only do layoffs accelerate, but hiring drops sharply, exacerbating the labor market weakness.
The jobless rate jumped to 4.4% — the highest since 2017 — from a half-century low of 3.5%, and is expected to surge above 10% in the coming months.
Unemployment insurance will cover more workers and be extended to four months, bolstered by $600 weekly.
Resumes fail to predict performance and perpetuate existing demographic inequities in the workforce, stalling socioeconomic mobility, creating compliance risks and scaring off potential employees.
The bank is grappling with risks from the Hong Kong protests and China’s coronavirus outbreak, among other financial strains.
Recent college graduates are more likely to be out of work than the population as a whole and their salaries are lower.
Hiring remained flat in the fourth quarter after a series of declines in 2019 and more companies reported difficulty in finding qualified workers.
Jobless claims are at the lowest rate since the end of September.
Sluggish wage growth can be attributed to automation and outsourcing, among other factors.
The brand will test out the six-figure salary in select restaurants as an employee retention tool.
Wage numbers suggest that the labor market isn’t as competitive as the unemployment rate indicates.
Companies may be less likely to let employees go with more job openings and increased difficulty attracting talent.
Technology and climate change are major factors in job trends in the 2020s.
More than 50 lenders will cut nearly 78,000 jobs in response to a slow economy.
