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4 million Americans quit their jobs in April — a 20-year record.

[Business Insider, Getty Images] The retail sector is in the middle of a massive labor shortage. About 4 million workers in the US quit in April, a 20-year record, the Labor Department said.There were 9.3 million job vacancies at the end of April, another 20-year record.Job vacancies rose the most in the accommodation and food-service […]

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Cryptocurrency trading is stopping people from looking for full-time jobs: CareerBuilder CEO

[Yahoo! Finance, Shutterstock] The 559,000 jobs the U.S. added in May continue to puzzle economists, who predicted 675,000 additions for the month and 1 million additions a month earlier as the economy recovers. They’ve put forth explanations from lack of child care to persistent COVID-related safety concerns. Now, another culprit can be added to the list: Some potential workers are instead […]

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Business leaders, economists sound alarm about shrinking labor force

[ABC NEWS] WASHINGTON (SBG) — As summer begins and states lift pandemic restrictions, the biggest challenge employers and local economies face is a lack of available workers, according to a new report by the U.S. Chamber of Commerce.  “All the signs point to a really tight labor market,” U.S. Chamber of Commerce Vice President Neil […]

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America’s worker shortage is real and getting worse by the day, US Chamber CEO says

(CNN Business) The US Chamber of Commerce on Monday announced a nationwide initiative to address the worker shortage in the US, calling the crisis the most critical and widespread challenge facing businesses. The initiative, called “America Works,” aims to mobilize industry and government to “swiftly address America’s deepening worker shortage crisis.” JPMorgan Chase CEO Jamie Dimon suggested […]

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Wage rises and labor shortage are a ‘democratization’ of U.S. workforce, fund manager says

[CNBC, GETTY] While the U.S. labor force participation rate remains well below pre-pandemic levels, with April’s nonfarm payrolls growing by just 266,000 against forecasts of 1 million, workers’ wages have risen at their sharpest pace in years, and new unemployment filings continue to fall.McDonald’s, Chipotle, Bank of America and Under Armour are among the companies […]

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Biden administration unable to continue $300 weekly pandemic unemployment benefits that GOP governors are slashing

[CNN] The Labor Department has exhausted its options for continuing to pay an extra $300 a week in federal unemployment benefits to jobless people in the 22 GOP-led states that are ending them early, an administration official told CNN Thursday. Roughly 3.6 million out-of-work Americans will forgo a total of $21.7 billion in benefits as a result […]

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Worker shortages are putting more money in employees pockets but could slow the economy

[USA TODAY, AP] The nationwide worker shortage that held down U.S. job growth last month boils down to this: America’s workers are raking in lots of money but they have fewer places to spend it. Businesses that can’t find enough workers are pushing their existing staffers harder, converting part-time employees to full-time and asking full-time […]

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Roaring Back: Employers Add 916,000 Jobs As Economy Emerges From Winter Slump

[NPR, Getty Images] Hiring accelerated last month as U.S. employers added 916,000 workers to their payrolls. It was the largest job gain since August, fueled in part by an improving public health outlook and a new round of $1,400 relief payments. The unemployment rate dropped to 6%, from 6.2% in February. Job growth has improved […]

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Black and Hispanic women aren’t sharing in the job market recovery

[CNBC, GETTY] Employment statistics for women of color were not only more severe when the Covid-19 pandemic began, but are more sluggish in improving.For white workers, the unemployment rate fell to 5.6% in February. But for Black and Hispanic workers, reported jobless rates were 9.9% and 8.5%, respectively.But as stark as the race- and ethnicity-based […]

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U.S. Job Market Slowed Further in November

[The New York Times] U.S. employers added 245,000 jobs in November, a fifth month of tapering, amid a coronavirus surge. The American economic recovery continues to slow, stranding millions who have yet to find a new job after being thrown out of work by the coronavirus pandemic. The latest evidence came Friday when the Labor Department […]

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