Happy And Succeeding: For Those Who Have Blind Ambition To Achieve Great Things
Our Weekly Roundup
How The Banking Crisis And Summer Slowdown Will Affect Hiring
The April jobs report blew past economists’ expectations, adding 253,000 jobs, while unemployment declined to 3.4%, according to the United States Bureau of Labor Statistics. Despite the Federal Reserve Bank’s program to downplay job creation, in an effort to whip inflation, the labor market is still strong and resilient. The jobs report offered some good news for workers in the face of high interest rates, a potential banking crisis, concerns over a possible recession, and uncertain geopolitical events.
Officials Suspect One Possible Scandal On Crazy Bank Stock Movements: Market Manipulation
While investors fret about a contagion in the banking industry taking down the entire sector, U.S. regulators are investigating the possibility that “market manipulation” is what’s actually behind tanking bank stocks. A spike in short-seller activity and volatility in bank stocks has drawn the attention of federal and state officials, Reuters reported, citing a source who also said that the banking sector had “strong fundamentals” and “sufficient capital levels.”
Federal Reserve’s Recent Interest Rate Hike Could Result In Layoffs At Reeling Regional And Small Banks
In a press conference on Wednesday, Federal Reserve Bank Chair Jerome Powell announced that the Fed would raise interest rates for the 10th consecutive time to a range of 5% to 5.25%. In his quest to dampen the economy to bring down record-high inflation, there will be collateral damage, including job cuts.
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Artificial Intelligence Is Already Causing Disruption And Job Losses At IBM And Chegg
Twenty-five percent of jobs will be negatively impacted over the next five years, according to a new report by the World Economic Forum. In a study, New York City-based investment bank Goldman Sachs predicts that the fast-growing mass adoption of AI will impact 300 million jobs.
Wall Street Is Cutting More Jobs As Morgan Stanley Plans 3,000 Layoffs
As Wall Street’s slump in IPOs and mergers deepens this year, top advisory firms including Morgan Stanley, Bank of America and Citigroup have turned to job cuts in recent weeks. Morgan Stanley plans to eliminate roughly 3,000 positions by the end of June, according to a person with knowledge of the plans.
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The Best Time To Start A Job Search That No One Told You About
The most opportune time to start searching for a new job is when you are at the top of your game at your current firm. If you are satisfied, well-regarded and exceeding expectations at the office, the time is right to begin laying the groundwork for finding the next opportunity.
‘New Era Of Turbulence’: The World Economic Forum Predicts 25% Of Jobs Will Change Over The Next Five Years
A quarter of jobs will be impacted over the next five years, according to a new report by the World Economic Forum on Monday. The fast-growing trends of artificial intelligence, digitization, renewable energy and supply chain reshoring will bring about a critical shift in the global labor market. The WEF predicts a “new era of turbulence,” as many workers won’t have the requisite skills to keep up with the changes. Those with a technology, data analytics or cybersecurity background will benefit in the new environment.
The Blind Ambition Podcast
The Blind Ambition with Jack Kelly provides a candid look into the top companies in business and tech. Go behind the scenes with industry and workplace leaders and explore work culture, what it takes to land a role at these companies, and how to build, scale and thrive in your career. Hosted by Jack Kelly and Rick Chen and presented by the professional social network Blind.
SEC Awards Record $279 Million To Whistleblower
The nation’s top securities regulator on Friday announced it had given a $279 million award through its whistleblower program — the largest in its history. The Securities and Exchange Commission said the unnamed whistleblower provided information and assistance that led to a successful enforcement action, which the agency didn’t describe. The payout is well more than double the second-largest award of $114 million, issued in October 2020.
“We Must Regulate AI,” FTC Chair Khan Says
On Wednesday, Federal Trade Commission (FTC) Chair Lina Khan pledged to use existing laws to regulate AI in a New York Times op-ed, “We Must Regulate A.I. Here’s How.” In the piece, she warns of AI risks such as market dominance by large tech firms, collusion, and the potential for increased fraud and privacy violations.
U.S. Court Orders SEC To Respond to Coinbase Allegations Within 10 Days
The U.S. Securities and Exchange Commission (SEC) has been ordered by a U.S. court to respond to cryptocurrency exchange Coinbase’s (COIN) complaint over how it applies securities laws to digital assets. The Third Circuit Court of Appeals said in a Wednesday filing that the SEC must file its response within 10 days. Coinbase may then file a response seven days thereafter.
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Media Inquiry
Jack Kelly is available to discuss a broad range of topics, including, but not limited to: the job market, the state of recruiting, trending news stories and career advice. He has appeared on CNBC, MSNBC, NBC, FOX, CBS, BBC and NPR. Jack has been quoted in the the Wall Street Journal, Washington Post, Economist, INC., New York Post and more.
About Jack Kelly
Jack Kelly is the CEO, founder, and executive recruiter at one of the oldest and largest global search firms in his area of expertise. He has personally placed thousands of professionals with top-tier companies over the last 20-plus years. Jack is passionate about advocating for job seekers. In doing so, he founded a start-up company, WeCruitr, at the beginning of the Covid-19 pandemic. The mission of WeCruitr is to help people in need and make the job search more humane and enjoyable. As a proponent of career growth, Jack shares his insider interviewing tips and career advancement secrets as a Senior Contributor for Forbes. He also covers timely topics related to corporations, high-profile people, Wall Street, politics and other important matters. The pieces offer insight into the news and how it may impact your career. Jack is the author of Happy and Succeeding in Your Job Search and How To Get A Job In Tough Times, as well as the host of Happy And Succeeding In The Future Of Work and cohost of the Blind Ambition podcast.