The U.S. economy added 353,000 jobs in January, while the unemployment rate held at 3.7%, the Labor Department said Friday.
The January payroll figures show hiring picked up from the 333,000 added the prior month, which itself was revised higher by 117,000. Job gains in November were revised slightly higher, too, by 9,000 to 182,000 jobs added.
The hiring increase last month came amid strong job gains in healthcare, retail and professional and business services, while mining and oil and gas extraction are among the sectors that shed jobs.
Meanwhile, the labor force participation rate — the share of workers with or looking for a job — was 62.5% in January. Average hourly earnings, a measure of wage growth, surged by 0.6%. Over the past 12 month, average hourly earnings increased by 4.5%.
Mentorship and Networking Strategically With Annette Stewart & Albana Theka
Annette Stewart is currently a Senior Director at RBC, and has worked at major financial firms, such as HSBC, Credit Suisse, Barclays and Goldman Sachs. Albana Theka, MBA is a Data and Analytics Leader in the New York healthcare system. Annette and Albana are huge proponents of mentorship and play integral roles in the Financial Women's Association, a vibrant community of dynamic professionals and proactive institutions focused on development and empowerment to advance leadership growth and accelerate the success of all women in finance through education, mentorship, scholarships, networking and alliances across the financial community.
In this LinkedIn Live, we will discuss the importance of having mentors, sponsors and truth tellers in your careers to help guide you and offer meaningful feedback. We will share tips on how to strategically leverage your network to advance your careers.
If You Broke Your New Year’s Resolutions, Here’s How You Can Get Back On Track
People love making New Year’s resolutions, but are not so great at keeping them. With high hopes for the future, people set their sights for the next 12 months on pushing forward their careers, saving money, making healthier lifestyle choices and protecting their mental health. It’s laudable to want to be better, but it’s challenging to stick with resolutions.
If this sounds like you, then you are not alone. According to Ohio State University’s Fisher College of Business, only 9% of people who make New Year’s resolutions actually keep them. Nearly a quarter of goal-setters ditch their resolutions by the first week of January, and 43% quit by the end of the month.
Young Americans May Face A Financial Future Less Fortunate Than Their Parents
From the pandemic onward, young adults have had to cope with significant economic and job market shifts and challenges. This cohort is struggling to secure white-collar jobs after working hard and going into debt pursuing a college degree. A recent survey by Intelligent, an online magazine dedicated to student life, revealed that 38% of employers avoid hiring recent college graduates in favor of older workers.
Due to financial challenges, resulting from the lack of employment opportunities and the high cost of living, young adults have become financially dependent upon their parents. In a new report from Pew Research Center, nearly 60% of parents said they were financially supporting their adult kids, ages 18 to 34.
According to the survey, 57% of young adults also live with their parents or in a parent’s home. The economic challenges posed by high housing costs, inflation and broader economic precariousness have made it difficult for many young adults to afford living independently.
How To Survive Layoffs If You’re A Remote Worker
Not only are remote workers receiving fewer promotions or raises, they are more likely to be terminated than their in-office counterparts. Professionals working from home are 35% more likely to be let go than onsite employees, according to the Wall Street Journal, citing data from job change and human capital insights provider Live Data Technologies.
The continuous blows to this cohort have left remote workers feeling a heightened level of job insecurity, as they worry about being laid off and struggling to find a new job quickly. According to research by the Harvard Business Review, remote employees are more likely (32%) to feel stressed about layoffs, with 67% reporting that it has affected their productivity. Hybrid and in-office employers are 24% less likely to say that their work output has suffered due to job market volatility.
It is essential for remote workers to be aware of the potential increased risk of layoffs and take proactive measures to ensure their continued employability and job security, as they contend with less visibility and upward mobility in the workplace, manager bias and decreased productivity.
Mark Dixon, Founder and CEO of IWG: The Future of Remote Work And The Workplace
When Mark founded Regus, now known as IWG, he was the first to offer co-working space on a large scale. We explore how workplaces, offices, and even commercial real estate have changed since he started in the company in 1989.
Mark explains how companies are increasingly choosing hybrid or flexible work schedules, which mix working from home and in-office time, resulting in a $2 trillion total addressable market opportunity. We look into how trends like remote work and urban policy are impacting what it's like to work in major cities around the world and why on-premise or in-office work will never go away, even with the latest trends and changes in tech.
Why Gold-Collar Workers Are Some Of The Most Well-Paid, Prestigious Professionals
Gold-collar jobs have become more ubiquitous in recent years due to the ascension of technology and the growing demand for specialized skills in industries such as healthcare, technology and finance. As generative artificial intelligence continues to become more prevalent in the job market, positions that necessitate human creativity, problem-solving and critical thinking are becoming more relevant and valuable than ever before.
The term “gold-collar” jobs refers to highly-skilled professionals in high-demand fields, such as doctors, lawyers, engineers, pilots and scientists. The designation “gold-collar” distinguishes these professionals from traditional white-collar and blue-collar workers, reflecting the specialized nature of their roles and the high compensation that comes with it.
Gray-Collar Jobs Offer The Best Of Both White And Blue-Collar Opportunities
Gray-collar jobs are the fastest-growing occupations, according to data by the United States of Bureau of Labor Statistics. On its list of the “highest projected percent change of employment” between 2022 to 2032, gray-collar roles dominate.
“Gray-collar” is a term used to describe jobs that intersect between the traditional segments of “blue-collar” and “white-collar.” These hybrid roles combine aspects of both hands-on, physical labor (blue-collar), often involving the operation of tools, machinery or equipment, and technical skills or knowledge (white-collar).
Gray-collar workers are highly skilled or specialized, and often well-compensated, in industries like technology, healthcare and service or hospitality. While advanced degrees are not required for all gray-collar roles, these employees typically hold at minimum associate degrees, licenses or vocational certifications.
How To Get A Job In Tough Times: All The Advice You Need To Succeed From A Top Executive Recruiter
There’s an old saying, “Tough times make tough people.” In this book, Jack Kelly will help guide you every step of the way in your job search to ensure that you stay strong, resilient and positive, and get that great, new job.
