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New US jobless claims slide to 385,000 while continuing claims hit pandemic low

People in line to file for unemployment insurance. John Sommers II/Getty Images Jobless claims declined to 385,000 last week, capping a frothy month that saw the hiring recovery slow. The print just missed the median estimate of 383,000 claims while marking a second straight drop. Continuing claims totaled 2.93 million, the lowest reading since claims surged in March 2020. See more stories on Insider's business page. The number of Americans filing for unemployment benefits dropped less...
Tags: US, Trends, Bloomberg, Bureau of Labor Statistics, Louisiana, ADP, Labor Department, Rand Corporation, John Sommers, Ben Winck Andy Kiersz, Kathryn Anne Edwards, Getty Images Jobless


JPMorgan's Jamie Dimon says he disagrees with the Fed on inflation being transitory - and once unemployment hits 4.5%, the central bank will start tapering

Mike Blake/Reuters JPMorgan CEO Jamie Dimon said he doesn't see current high US inflation as temporary, speaking to Fox Business on Wednesday. The bank chief also believes the Federal Reserve will start tapering will begin once unemployment reaches 4.5%. Dimon's comments put him at odds with the Fed, which reiterated its view on inflation last week. Dimon also believes that tapering will begin once unemployment reaches 4.5%. Sign up here for our daily newsletter, 10 Things Befo...
Tags: US, Trends, Bureau of Labor Statistics, Federal Reserve, Jamie Dimon, Maria, Fox Business, Fed, Jpmorgan, Jerome Powell, Dimon, Wall Street bank, Opening Bell JPMorgan, Sophie Kiderlin, Mike Blake Reuters JPMorgan


One chart shows the explosion in high-paying work-from-home jobs during the pandemic

Working from home is more common than ever. REUTERS/Eddie Keogh Careers site Ladders found a 1,000% increase in high-paying job listings that allow remote work. The share of high-paying jobs that can be worked from home in the marketing, media, and design sector especially shot up. Over a quarter of high-end sales and business development jobs offer remote work. See more stories on Insider's business page. Millions of Americans have been working remotely since the beginning of the pand...
Tags: Trends, Bureau of Labor Statistics, Salesforce, Twitter Amazon, ITAM, Andy Kiersz, Stanford the University of Chicago, REUTERS Eddie Keogh Careers


'Distinctively Black names' still get fewer callbacks for job applications

A study found that applicants with Black names had a 2.1% lesser chance of getting contacted. monkeybusinessimages/Getty Images A recent study found that applicants with Black names have 2.1% fewer chance of getting contacted. The study submitted 83,000 entry-level applications to 108 fortune 500 companies. Black Americans are severely underrepresented in higher-paying corporate jobs. See more stories on Insider's business page. A recent study conducted by researchers at the University...
Tags: News, US, Trends, Job Market, Economy, Bureau of Labor Statistics, University Of Chicago, Mcdonalds, University Of California Berkeley, National Bureau of Economic Research, Black, Racial Bias, Amazon Facebook Morgan Stanley, Aleeya Mayo, Google Target Coca Cola Fox News


The unpaid teacher crisis no one is talking about: Women did more homeschooling than men in 2020

Rick Gomez/Getty Images Women took on more caregiving and homeschool responsibilities than men in 2020. Women spent a daily average of 2.4 hours on education-related activities in 2020, higher than the 1.7 hours men spent. Women also spent two more hours a day on childcare while doing other tasks in 2020 than men. See more stories on Insider's business page. The pandemic and related lockdowns naturally affected what Americans do every day, and new data shows that women spent more time...
Tags: Washington Post, Trends, Bureau of Labor Statistics, New York Times, Mason, BLS, Institute for Women s Policy Research, Ben Casselman, ATUS, Nicole Mason, Ella Koeze, Madison Hoff, Susan Foosness, Foosness, Rick Gomez Getty, Bureau of Labor Statistics Mason


The pandemic ended the daily commute

Mario Tama/Getty Many Americans stopped commuting daily amid lockdowns and working from home in the last year. The average amount of time spent traveling each day dropped from about an hour and 12 minutes in 2019 to 47 minutes in 2020. Only about two-thirds of Americans traveled anywhere on an average day in 2020, down from 84% in 2019. See more stories on Insider's business page. The daily grind is over.It's one of the smaller, but potentially surprisingly pleasant, changes from ...
Tags: Boston, Trends, Bureau of Labor Statistics, Zillow, Wall Street Journal, Journal, BLS, Mario Tama Getty, Texas A M Transportation Institute, Andy Kiersz Madison Hoff, Time Use Survey, Nicole Freedman


These 8 jobs that don't require a college degree could drive middle class wealth in America's heartland

According to a report by Heartland Forward, registered nurses have a lot of job openings in the Heartland region and don't need a bachelor's degree. SDI Productions/Getty Images Think tank Heartland Forward published a new report focused on opportunity occupations. That is, jobs that don't necessarily require a bachelor's degree and offer reasonable pay. These jobs can help Americans in the heartland be more financially secure. See more stories on Insider's business pag...
Tags: Texas, US, America, Trends, First, Bureau of Labor Statistics, North Dakota, Iowa, Louisiana, Heartland, Getty Images Employment, Ross DeVol, DeVol, Erik Isakson Getty, Heartland Forward, Madison Hoff


People didn't rush back to work when their unemployment benefits were cut early, a new study finds, despite what some GOP governors predicted

Arizona Governor Doug Ducey cut federal employment benefits in the state on July 10. Ralph Freso/Getty Images A new study found employment fell slightly in states that cut federal unemployment benefits early. Some GOP governors have blamed unemployment benefits for sluggish jobs growth. The study analyzed US Census Bureau survey data from between April and July. See more stories on Insider's business page. People did not immediately return to work in some states that cut federal unem...
Tags: Trends, Ui, Bureau of Labor Statistics, Gop, Arizona, Doug Ducey, University of Massachusetts Amherst, US Census Bureau, Dube, Ralph Freso Getty, Arindrajit Dube, Department of Labor Read, Anna Cooban


The job market is on fire right now. Here are the best tips for finding a career that you love.

It's shaping up to be a hot summer for job searching. Ditty_about_summer/Shutterstock This summer is the best time to be looking for a new job. Employers are looking to woo workers with signing bonuses and other perks. Insider's compiled a helpful guide for anyone searching for a new role this summer. See more stories on Insider's business page. The job market is on fire right now.After a steep decline at the beginning of the pandemic, employers are finally beginning to hire ag...
Tags: Florida, US, Trends, Linkedin, Bureau of Labor Statistics, Gallup, Don, Wayfair, Nomura, Paul Hennessy, Mario Tama Getty, Caroline Hroncich, Zety, Elon Musk Richard Branson Jack Dorsey, Blair Heitmann, Jacques Buffett


Job seekers have all the power right now. Here are our 5 best tips for finding a career you love.

It's shaping up to be a hot summer for job searching. Ditty_about_summer/Shutterstock This summer is the best time to be looking for a new job. Employers are looking to woo workers with signing bonuses and other perks. Insider's compiled a helpful guide for anyone searching for a new role this summer. See more stories on Insider's business page. The job market is on fire right now.After a steep decline at the beginning of the pandemic, employers are finally beginning to hire ag...
Tags: Florida, US, Trends, Linkedin, Bureau of Labor Statistics, Gallup, Don, Wayfair, Nomura, Paul Hennessy, Mario Tama Getty, Caroline Hroncich, Zety, Elon Musk Richard Branson Jack Dorsey, Blair Heitmann, Jacques Buffett


NYC food trucks are a microcosm of the changed economy. Mondays and Fridays are their slowest days and many have changed locations.

Food cart in NYC. Noam Galai/Getty Images The work-from-home economy is hurting NYC food truck vendors, the NYT reports. Many had to switch locations, Mondays and Fridays are the slowest, and pre-pandemic profits are gone. Although June jobs data showed remote work declining, a return to pre-pandemic levels is unlikely. See more stories on Insider's business page. Before the pandemic, stopping at a food truck on the way to and from work was a New York City staple. But the work-from-hom...
Tags: New York City, Trends, Bureau of Labor Statistics, New York Times, Times, Midtown Manhattan, Alam, Noam Galai Getty, Times We, Ayelet Sheffey, Nicko Karagiorgos, Uncle Gussy, Karagiorgos, Royal Grill Halal Food


These 5 key numbers are currently defining the Biden presidency from unemployment to vaccinations

President Joe Biden delivers a speech on voting rights at the National Constitution Center in Philadelphia on July 13, 2021. AP Photo/Evan Vucci President Joe Biden will mark six months in office on July 20. Biden enjoys unified control of government, but the Senate still has its complications. The administration has focused on battling COVID-19 and is strategizing how to continue the fight. Sign up for the 10 Things in Politics daily newsletter. On July 20, President Joe Biden will have b...
Tags: Politics, Congress, Cdc, Senate, White House, US, Trends, Georgia, Joe Biden, Economy, Bureau of Labor Statistics, Washington Dc, Arizona, US Senate, Philadelphia, Biden


Some Republican states that cut federal unemployment benefits early are recovering more quickly

Idaho Gov. Brad Little. Idaho is one of two states with employment levels above where they were in February 2020 as of June 2021. Darin Oswald/Idaho Statesman/Tribune News Service via Getty Images This map shows how far states are from their pre-pandemic levels of employment as of June. Most of the states near or above February 2020 employment have cut federal unemployment benefits. Almost all of the states cutting the benefits are GOP-led. See more stories on Insider's business page. ...
Tags: Utah, New York, US, Trends, Bureau of Labor Statistics, Gop, Idaho, Alaska, Arizona, Nevada, Louisiana, Economic Policy Institute, BLS, Getty Images This, Heidi Shierholz, Joseph Zeballos Roig


Americans spent $621 billion at retail stores in June, a surprise increase from May

Mark Ralston/AFP via Getty Images The Census Bureau reported that Americans spent $621.3 billion at retail and food services businesses in June. That's a surprise 0.6% increase over May's revised $617.9 billion spend. Retail sales are higher than before the pandemic, spurred by stimulus and pent-up demand. See more stories on Insider's business page. Americans spent $621.3 billion at retail stores and restaurants last month, according to the Census Bureau. That's up 0.6% f...
Tags: US, Trends, Bloomberg, Bureau of Labor Statistics, Bureau, Afp, Census Bureau, Consumer Price Index, MARK RALSTON, Andy Kiersz, Census Bureau That, Getty Images The Census Bureau


America’s CEOs couldn’t say it any louder: We’re about to charge you more

Creative Touch Imaging Ltd./NurPhoto via Getty Images Inflation surged 0.9% from May to June, sparking concerns for CEOs of major companies. Biden has said elevated inflation is only temporary, but some CEOs think it could persist. To offset inflation, some of those execs said they'll be increasing prices on daily consumer goods. See more stories on Insider's business page. While the economy is showing promising signs of recovery, adding 850,000 payrolls in June, inflation is als...
Tags: Politics, America, Trends, Markets, Joe Biden, Economy, Bureau of Labor Statistics, Retail, Inflation, Biden, Pepsico, Jamie Dimon, Fed, Helen, Lewis, Pepsi


The CEOs of major companies are increasingly talking about inflation. Here's what has 3 of them worried.

In this photo illustration, hands are seen counting $100 bills. Valera Golovniov/SOPA Images/LightRocket via Getty Images Inflation, or increased pricing for goods, is on the rise as the economy reopens. Biden's administration and the Fed says the price increases should be temporary. But CEOs of major companies are saying that higher prices could persist. See more stories on Insider's business page. The country is reopening and the economy is recovering from the pandemic, and while...
Tags: Europe, Labor, Trends, Joe Biden, Bureau of Labor Statistics, United States, Republican, Biden, Pasadena, Pepsico, Jamie Dimon, Cnbc, Blackrock, Fed, Reuters, Jpmorgan


What America's CEOs are saying on inflation: We're going to charge you more

In this photo illustration, hands are seen counting $100 bills. Valera Golovniov/SOPA Images/LightRocket via Getty Images Inflation, or increased pricing for goods, is on the rise as the economy reopens. Biden's administration and the Fed says the price increases should be temporary. But CEOs of major companies are saying that higher prices could persist. See more stories on Insider's business page. The country is reopening and the economy is recovering from the pandemic, and while...
Tags: Europe, Labor, America, Trends, Joe Biden, Bureau of Labor Statistics, United States, Treasury, Janet Yellen, Republican, Biden, Pasadena, Pepsico, Jamie Dimon, Cnbc, Blackrock


Verve Motion raises $15M following exosuit pilot with grocery workers

The exoskeleton/exosuit category has been heating up over the past few years. It makes sense, really. There are two giant — and dramatically different — potential customer bases. On one end are those sorts of jobs that could benefit from some wearable assistance. On the other are people with mobility issues for whom such technology might go a long way. Founded last year by a team spun out of Conor Walsh‘s lab at Harvard’s Wyss Institute and the John A. Paulson School of Engineering and Applied S...
Tags: Startups, Tech, Harvard, Bureau of Labor Statistics, United States, Robotics, Exoskeleton, Wyss Institute, Conor Walsh, Ahold Delhaize, John A Paulson School of Engineering, Recent Funding, Construct Capital, Verve Motion, Founder Collective Pillar VC Safar Partners, Ignacio Galiana


Inflation is pretty high right now, but it probably won't be a huge problem in the long term

Used cars were responsible for a third of the inflation spike between May and June. Justin Sullivan/Getty Consumer prices rose 0.9% between May and June, a 13-year high. But a large part of the increase came from items affected by the pandemic and reopening. As the economy returns to normal, these prices should stabilize, keeping inflation in check. See more stories on Insider's business page. The much-expected wave of inflation amid an unprecedented post-pandemic economic reopening is...
Tags: Congress, Trends, Markets, Bloomberg, Economy, Bureau of Labor Statistics, Inflation, Federal Reserve, Fed, Powell, Justin Sullivan Getty, BLS, Jerome Powell, Cox Automotive, Inflation Data, Andy Kiersz


The price of vending machine food just jumped by a record amount as Pepsi, Coca-Cola, and snack brands hike prices

Snack food sold in vending machines soars in price. Syda Productions/Shutterstock The price of snack food sold in vending machines in the US was up 2.3% between May and June. This is the biggest single-month cost jump on record, according to Axios. Food shortages, the labor shortages, and supply chain snafus are leading to price hikes. See more stories on Insider's business page. Vending machine food prices soared in June.According to the consumer price index from the Bureau of Labor ...
Tags: US, Trends, Bureau of Labor Statistics, Nestle, Capital Economics, Pepsi Coca Cola, Mark Schneider, Ian Shepherdson, Andrew Hunter, Pantheon Macroeconomics, Mary Hanbury, Joseph Zeballos Roig, Madison Hoff, Axios Food, Pepsi Coca Cola Nestlé


Used car prices jumped at the fastest rate on record last month, but there's hope on the horizon

Used car prices increased 10.5% in June. Justin Sullivan/Getty Images Used cars and trucks were 10.5% more expensive in June than in May. That's the biggest increase since the Bureau of Labor Statistics started tracking in 1953. Used cars have been a major cause of higher price inflation over the last few months. See more stories on Insider's business page. If you're in the market for a used car or truck, get ready to pay a lot.The Bureau of Labor Statistics' monthly Consum...
Tags: Transportation, Trends, Markets, Economy, Bureau of Labor Statistics, Used Cars, Inflation, Npr, CPI, Morgan Stanley, Justin Sullivan Getty, Cox Automotive, Andy Kiersz, Scott Horsely, Tim Levin, BI Graphics


Prices surged more than expected in June, as inflation continues to hit our wallets in the US

Food prices increased 0.8% between May and June. Lucas Jackson / Reuters The Consumer Price Index rose 0.9% between May and June, much more than the consensus estimate of 0.5%. Inflation has been relatively high over the last few months as the economy reopens. Whether or not prices keep rising is one of the big questions facing businesses and policymakers. See more stories on Insider's business page. Consumer prices rose 0.9% between May and June according to the Bureau of Labor Statis...
Tags: Labor, US, Trends, Bloomberg, Economy, Bureau of Labor Statistics, Inflation, Federal Reserve, Bureau, Marty Walsh, Consumer Price Index, Andy Kiersz, Biden Administration, BI Graphics


Prices surged more than expected in June, as inflation continues to hit Americans' wallets

Food prices increased 0.8% between May and June. Lucas Jackson / Reuters The Consumer Price Index rose 0.9% between May and June, much more than the consensus estimate of 0.5%. Inflation has been relatively high over the last few months as the economy reopens. Whether or not prices keep rising is one of the big questions facing businesses and policymakers. See more stories on Insider's business page. Consumer prices rose 0.9% between May and June according to the Bureau of Labor Statis...
Tags: Labor, US, Trends, Bloomberg, Economy, Bureau of Labor Statistics, Inflation, Federal Reserve, Bureau, Marty Walsh, Consumer Price Index, Andy Kiersz, Biden Administration, BI Graphics


Wages are growing, but people who have stayed in the same job for the last year aren't getting raises

Waiters wear face masks as they serve people sitting in outside seating at the P.J. Clarke's restaurant at Rockefeller Park in lower Manhattan during the fourth phase of the coronavirus reopening on August 05, 2020 in New York, New York. Roy Rochlin/Getty Images Wages have grown at the fastest rate since the 1980s. But pay for current workers hasn't changed much during the pandemic. One economist told Insider that robust wage growth in leisure and hospitality is temporary. See more...
Tags: Politico, Trends, Bureau of Labor Statistics, Manhattan, Clarke, Economic Policy Institute, Josh Bivens, Atlanta Fed, Heidi Shierholz, Andy Levin, Shierholz, Madison Hoff, Economic Policy Institute s Shierholz, Rockefeller Park, New York New York Roy Rochlin Getty Images Wages


3 'mismatches' that explain the labor shortage

Job seekers browse tables at a veterans' job fair in Burbank, Los Angeles Thomson Reuters You may have heard that there's a labor shortage, as employers desperately woo workers. But mismatches in skills, where workers are located, and what they want out of work could be to blame. Those factors will probably continue to shape the strangeness of the labor market for a while. See more stories on Insider's business page. Have you heard of this labor shortage? It's pretty wild,...
Tags: Texas, Trends, Joe Biden, Bureau of Labor Statistics, Chamber of Commerce, Wall Street Journal, New York Federal Reserve, Caroline Hroncich, Dina Jones, DataTrek Research, Flynn Restaurant Group, Jessica Rabe, Burbank Los Angeles Thomson Reuters, Betsy Mercado, Nick Lichtenberg Juliana Kaplan


ADP June 2021 National Employment Report

Small businesses added 215,000 jobs to the US economy between May and June, according to the latest ADP Small Business Report, released earlier this month. Jobs continue to increase among small businesses as Americans emerge from the COVID pandemic. ADP Chief Economist Nela Richardson, in a call with the media, said the second quarter growth among small businesses is “robust” and predicted continued growth in a strong second half of 2021. Let’s delve into the key takeaways from June 2021 ADP Sm...
Tags: US, Sales, Bureau of Labor Statistics, ADP, Richardson, Nela Richardson, Small Business News, Leisure and Hospitality, BLS Census


More people are telling their jobs to 'shove it' amidst record quits

The sign was apparently posted in Louisville, Kentucky. Twitter/Great Ape Dad The "take this job and shove it" indicator is high due to lack of childcare, covid fears, and migration. DataTrek looks at how many job separations come from quitting, and told Insider "employers are not raising wages enough." But it may come down soon as schools reopen and more people reenter the labor force. See more stories on Insider's business page. In May 2021, workers were still quitting their jobs in ...
Tags: Trends, Bureau of Labor Statistics, Rabe, Louisville Kentucky, DataTrek Research, Juliana Kaplan, Grace Dean, Jessica Rabe DataTrek


Fast-food workers are leveraging the labor shortage to demand higher pay on the anniversary of the last federal minimum wage increase 12 years ago

Reuters/Lucy Nicholson Fast-food workers across the country are striking to demand a $15 minimum wage. Strikes and rallies are planned for the anniversary of the last federal minimum wage increase. The current federal minimum wage is $7.25. See more stories on Insider's business page. Fast food and restaurant workers are planning actions across the country for July 20, the anniversary of the last time the federal minimum wage was increased in the US. Fast-food workers will strike in n...
Tags: Senate, US, Trends, Bureau of Labor Statistics, Travis Kalanick, Durham North Carolina, Flint Michigan, McDonald, St Louis Missouri, Charleston South Carolina, Houston Texas, Detroit Michigan, Charlotte North Carolina, Milwaukee Wisconsin, Asheville North Carolina, Juliana Kaplan


3.6 million Americans quit their jobs in May, and there's one job opening for every unemployed worker

A man hands his resume to an employer at the 25th annual Central Florida Employment Council Job Fair at the Central Florida Fairgrounds. Paul Hennessy/SOPA Images/LightRocket/Getty Images There's one worker per job opening as of May 2021. The latest JOLTS report showed quits were still high, but not as high as the 20-year record in April. Quits varied by industry. 859,000 workers in trade, transportation, and utilities left their jobs. See more stories on Insider's business page. ...
Tags: Florida, Trends, Bureau of Labor Statistics, Glassdoor, Economic Policy Institute, BLS, EPI, Paul Hennessy, Elise Gould, Daniel Zhao, JPMorgan All, Juliana Kaplan Madison Hoff Andy Kiersz


3 things you should know about the millions of people quitting their jobs, according to the chief economist of the AFL-CIO

Federal Reserve Chair Janet Yellen (L) greets Howard University Economics Professor William Spriggs (R), who serves as chief economist to the AFL-CIO, as she arrives to deliver opening remarks at a summit on diversity in the economics profession at the Federal Reserve headquarters in Washington October 30, 2014. REUTERS/Jonathan Ernst The pandemic forced millions of workers out of work, so why are millions quitting their jobs? William Spriggs, chief economist for the AFL-CIO, broke down wh...
Tags: Washington, America, Trends, Bureau of Labor Statistics, Janet Yellen, OECD, Federal Reserve, AARP, AFL CIO, Howard University, BLS, Federal Reserve Chair, Jonathan Ernst, Spriggs, Julia Pollak, Retirement Equity Lab