Virus impact may extend to 57 million U.S. jobs
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.
Mortgages
Millennials face second age of underemployment
The International Labour Organization expects 195 million full-time job losses globally, and forecasts a “significant rise” in underemployment.
Hiring freezes are an underrated threat to the economy
During recessions, not only do layoffs accelerate, but hiring drops sharply, exacerbating the labor market weakness.
U.S. employment plummets, ahead of surge in layoffs
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.
New stimulus package extends unemployment, supports small businesses
Unemployment insurance will cover more workers and be extended to four months, bolstered by $600 weekly.
How to help your clients’ retirement savings last
To ensure their investments stretch as long as they live, clients are advised to develop a sustainable withdrawal plan and consider annuities.
Ways clients can pay off their debt in retirement
Aside from refinancing, retirees are advised to consider downsizing their homes to reduce overall spending.
Resumes are not an effective hiring tool
Resumes fail to predict performance and perpetuate existing demographic inequities in the workforce, stalling socioeconomic mobility, creating compliance risks and scaring off potential employees.
HSBC plans to cut 35,000 jobs
The bank is grappling with risks from the Hong Kong protests and China’s coronavirus outbreak, among other financial strains.
In hot jobs market, half of college grads are missing out
Recent college graduates are more likely to be out of work than the population as a whole and their salaries are lower.
New signs of a cooling labor market
Hiring remained flat in the fourth quarter after a series of declines in 2019 and more companies reported difficulty in finding qualified workers.
Applications for unemployment benefits lower than expected
Jobless claims are at the lowest rate since the end of September.
A huge retirement risk clients probably don’t realize they’re facing
Investors who plan to retire early are advised to start saving as soon as possible and diversify their earnings with multiple sources of income.
The jobs are there, but where are the wages?
Sluggish wage growth can be attributed to automation and outsourcing, among other factors.
Taco Bell plans to offer $100,000 manager salary
The brand will test out the six-figure salary in select restaurants as an employee retention tool.
Jobs report shows record unemployment, but slow wage growth
Wage numbers suggest that the labor market isn’t as competitive as the unemployment rate indicates.
Some clients feel they’ll never be ready for retirement
Ill-prepared investors are advised to vigorously plan their expenses and aggressively save in their 401(k)s and IRAs.
Jobless claims drop to four-week low in tight labor market
Companies may be less likely to let employees go with more job openings and increased difficulty attracting talent.
Top jobs for next decade are behavioral scientist and data analyst
Technology and climate change are major factors in job trends in the 2020s.
Top banks plan for more job cuts in 2020
More than 50 lenders will cut nearly 78,000 jobs in response to a slow economy.
