News

Labor and Employment

Reuters | Equities.com |

Microsoft Corp said on Tuesday that it aims to place 50,000 people in jobs that require technology skills as part of a broader push being undertaken with its professional networking website LinkedIn to help workers affected by the coronavirus pandemic move into new fields.

The jobs will be in what Microsoft calls its “ecosystem” of companies that use or help sell its products.


AP News | Equities.com |

The number of people seeking unemployment benefits fell sharply last week to 684,000, the fewest since the pandemic erupted a year ago and a sign that the economy is improving.

Thursday’s report from the Labor Department showed that jobless claims fell from 781,000 the week before. It is the first time that weekly applications for jobless aid have fallen below 700,000 since mid-March of last year. Before the pandemic tore through the economy, applications had never topped that level.


Kimberly Redmond | Equities.com |

Alphabet Inc’s (Nasdaq: GOOGL) Google is committing to more office space in the US, despite the rise of remote work due to the COVID-19 pandemic and growing momentum for companies to let employees work from home permanently. 

On Thursday, Google announced it will invest more than $7 billion in offices and data centers across 19 states, a move that will create at least 10,000 full-time jobs this year.


AP News | Equities.com |

The number of Americans seeking unemployment benefits rose last week to 770,000, a sign that layoffs remain high even as much of the U.S. economy is steadily recovering from the coronavirus recession.

Thursday’s report from the Labor Department showed that jobless claims climbed from 725,000 the week before. The numbers have dropped sharply since the depths of the recession last spring but still show that employers in some industries continue to lay off workers. Before the pandemic struck, applications for unemployment aid had never topped 700,000 in any one week.


Kimberly Redmond | Equities.com |

The first wave of the COVID-19 pandemic eliminated nearly six million jobs across the European Union, particularly impacting sectors dominated by temporary contractors, female workers and young people, according to a study released Thursday.

According to Eurofound, an EU agency that monitors living and working conditions in the 27-nation bloc, there were 5.7 million fewer people employed by spring 2020 than at the end of 2019 and 6.3 million fewer people compared with the trend growth, i.e., the number of people employed that could have been expected prior to the pandemic.


AP News | Equities.com |

he number of Americans seeking unemployment benefits fell last week to 712,000, the lowest total since early November, evidence that fewer employers are cutting jobs amid a decline in confirmed coronavirus cases and signs of an improving economy.

The Labor Department said Thursday that applications for unemployment aid dropped by 42,000 from 754,000 the week before. Though the job market has been slowly strengthening, many businesses remain under pressure, and 9.6 million jobs remain lost to the pandemic that flattened the economy 12 months ago.


AP News | Equities.com |

Roughly 4 in 10 Americans say they’re still feeling the financial impact of the loss of a job or income within their household as the economic recovery remains uneven one year into the coronavirus pandemic.

A new poll by The Associated Press-NORC Center for Public Affairs Research provides further evidence that the pandemic has been devastating for some Americans, while leaving others virtually unscathed or even in better shape, at least when it comes to their finances. The outcome often depended on the type of job a person had and their income level before the pandemic.


Reuters | Equities.com |

Morgan Stanley is expanding a program to recruit Black professionals into its markets business regardless of their experience in financial services, bank executives said.

Last Fall, the Wall Street giant launched the Morgan Stanley Experienced Professional Program, which invites Black professionals from any field to apply, in a bid to improve diversity within the business after nationwide protests against racial inequality over the summer.


AP News | Equities.com |

U.S. employers added a robust 379,000 jobs last month, the most since October and a sign that the economy is strengthening as confirmed viral cases drop, consumers spend more and states and cities ease business restrictions.

The February gain marked a sharp pickup from the 166,000 jobs that were added in January and a loss of 306,000 in December. Yet it represents just a fraction of the roughly 10 million jobs that were lost to the pandemic.


Reuters | Equities.com |

The U.S. Postal Service (USPS) said on Wednesday it is offering early retirement to non-union employees as it consolidates postal districts in an effort to stem billions in red ink.

The USPS will merge the existing 67 Postal Service Districts into 50 Districts and will also centralize district-level marketing and retail efforts, Postmaster General Louis DeJoy said in a statement.