BountyJobs

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Majority of U.S. Workers Considering New Jobs Due to Inflation

BountyJobs

U.S. jobless claims haven’t been this low since September 1968 – for the week ending April 2, initial jobless claims fell to 166,000 (a decrease of 5,000). Over half (66%) of workers in the U.S. are considering a job change in order to keep up with inflation. Requests to work remotely are increasing as gas prices skyrocket – a quarter of those thinking about looking for a new job also plan on ensuring that role allows working from home.

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Jobs Recovery in the U.S. Moving on to a New Phase

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In February, job openings were up 43% year over year in February with 11.3 million openings – a near record level. “Job openings fell by 63,000 in “finance and insurance” and by 39,000 in “nondurable goods manufacturing.” However, they rose by 32,000 month over month in “arts, entertainment, and recreation.” Other sectors where job openings rose included “educational services,” up 26,000, and the “federal government,” up by 23,000.”.

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Learning & Development Budget Increase to Continue

BountyJobs

Global companies continue to work toward gender equality – 18 out of 3,895 participating in a recent survey say they qualify as gender balanced…that’s up from 10 last year. Pay parity, parental leave policies, and the number of female executives are some of the criteria considered. Women still make up less than 50% of the workforce, and only 18% of the executive level (up from 17% last year).

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See Ya, Tech Hubs: ‘Zoom Towns’ On the Rise

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Workers within the ‘Great Resignation’ or ‘Great Reshuffling’ who quit their jobs last year cite low pay, no advancement opportunities, and feeling disrespected in the office as the top reasons for leaving. Around 31% of those that left their jobs noted they did so due to coronavirus impacts such as childcare challenges. The lowest jobless rates seen since 1976 were posted by 10 states in the U.S. in January.

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Employees Moving on to New Opportunities Find Lucrative Pay

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When the Gen Z demo job hunts, the top two factors they consider when looking at a job opportunity are ‘increased learning opportunities and training. The option to learn new skills and to practice these new skills holds a lot of weight during the job search process. On the other hand, Baby Boomers ranked values alignment and better pay or benefits ahead of learning opportunities.

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Investment Banks Increasing Entry Level Pay to $100K+

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In-demand positions in critical industries demand rising salaries, especially for midlevel employees within manufacturing and logistics. Roles including CNC programmers, molders, plant managers, and logistics managers are especially impacted with significant increases in salary. Investment banks in particular are offering higher salaries. For example, Morgan Stanley and Goldman Sachs increased their annual first-year pay to $110,000 – other banks have followed suit increasing entry-level banker’

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40% of Senior Managers: Candidate Ghosting Increasingly More Common

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Over 30% (34.5% to be exact) of private-sector employers increased remote work due to impacts felt from the pandemic. That climbed to over half for industries such as business services, financial activities, educational services and the information industry. Changes to compensation and benefits also felt a big stir with almost 15% private-sector employers raising base wages.