Initial unemployment claims in the US increased 5,000, to 239,000, last week, under the 245,000 economists polled by Reuters had estimated. Claims have been below 300,000, seen as indicating a healthy labor market, for 102 weeks.
A report from human resources firm Mercer says that Britain's aim to curb immigration as it leaves the EU will lead to a lack of foreign workers and a rise in labor shortages. The statement contrasts with the Bank of England's official view that there is more supply in the labor market than it had anticipated.
Construction companies must focus on retaining and recruiting employees, given the current labor shortage. Garry Bartecki of GB Financial Services offers suggestions on how to build up your workforce and provide benefits that will attract and retain employees.
US housing construction starts jumped in December, while initial claims for unemployment fell, according to recent data. "The labor market is close to full employment and the housing market continues to heal," said Harm Bandholz, chief US economist at UniCredit Research.
The Federal Reserve intends to increase interest rates several times a year until they reach a sustainable rate of about 3% in 2019, Chair Janet Yellen says. A gradual increase makes sense now that inflation is on target and the US is near full employment, she says.
Robots eventually will take a lot of jobs from Americans, but the change will occur at a considerably slower pace than many have predicted, says a report from the McKinsey Global Institute. Initially, robots will change the way people work, rather than doing away with their jobs, the report says.
Dennis Lockhart and Eric Rosengren, presidents of the Federal Reserve banks of Atlanta and Boston, respectively, offered their views on the central bank's expected interest-rate increases. Both said the Fed can gradually raise rates as the labor market improves and inflation increases, but they differed on how many adjustments will be needed in 2017.
Dennis Lockhart and Eric Rosengren, presidents of the Federal Reserve Banks of Atlanta and Boston, respectively, offered their views on the central bank's expected interest-rate increases. Both said the Fed can gradually raise rates as the labor market improves and inflation increases, but they differed on how many adjustments will be needed in 2017.
Milwaukee's restaurant scene has flourished in recent years, but the growth comes amid a tight culinary labor market that challenges restaurants' ability to grow. Operators including SURG Restaurant Group and The Bartolotta Restaurants have teamed with the city's public schools to expand a high school foodservice training program.