New jobless claims increased for the first time in six weeks, yet they remained under the pre-pandemic level despite a significant recent increase in layoff announcements. New filings for unemployment benefits increased by 7.1% to 196,000 for the week ending Feb. 4, the Labor Department ... READ MORE >
labor shortage
To thrive, middle market needs more women in leadership
One of the fundamental changes in the workplace over the next decade will be the increasing role of women. Women not only make up half of the workforce in the United States but they also are the more educated half. College-educated women outnumber men with similar education in the United States, and ... READ MORE >
The worst of the Great Resignation might be over, but not for small businesses
The record-high turnover in the job market, known as the Great Resignation, is showing signs of easing, but that may not be the case for small businesses. If anything, the struggle has only been amplified for firms with fewer than 50 employees. While the overall rate of workers quitting their jobs fell ... READ MORE >
Travel industry, expecting busy summer, casts wary eye on inflation
This summer was supposed to be the season of revenge travel. With COVID-19 caseloads easing and consumers flush with savings built up during the pandemic, the travel industry was anticipating a robust season. Consumers were so eager to get out of the house that little could deter them, the thinking ... READ MORE >
Chart of the day: Service sector grew more slowly in May
The service sector grew more slowly in May as production and prices cooled, according to a report from the Institute for Supply Management on Friday. Demand, however, remained strong as consumers continued to shift spending from goods to services, especially as the summer approaches. We expect the ... READ MORE >
Initial jobless claims show signs of bottoming out
New filings for jobless benefits last week inched down as a tight labor market kept layoffs below pre-pandemic levels. There were 210,000 new filings for the week ending May 21, down 8,000 from the week before, according to Labor Department data released Thursday . The weekly average pre-pandemic in ... READ MORE >
Why excess labor demand is unhealthy
The labor market’s rebound from the pandemic has been nothing short of remarkable. Most of the staggering number of job losses have been recovered, and the unemployment rate is near its pre-pandemic low. But sometimes in economics there can be too much of a good thing. In this case, it’s the demand for ... READ MORE >
Canada’s unemployment rate falls amid a chronic worker shortage
Canada added 15,000 jobs in April and the unemployment rate fell slightly to 5.2% as the job market remained heated, according to data released by Statistics Canada on Friday. There is no sign that this tight market will ease any time soon. In addition to the modest number of jobs added, the ... READ MORE >
Chart of the day: Manufacturing grew at a slower rate in April
Manufacturing grew at a slower rate in back-to-back months as labor shortages continued to hamper production while demand moderated from January's high. The Institute for Supply Management's manufacturing index registered 55.4%, the slowest growth rate since July 2020, and down from 57.1% in March. An ... READ MORE >
Defense technology: Emerging trends from the fourth quarter
Executives in the defense technology industry are grappling with a host of challenges including labor shortages, inflation, supply chain delays and an extended continuing resolution from Congress. But even as they work through these challenges, the executives remain energized about ... READ MORE >