Trends
Settling for Less: the Tradeoffs of Job Hopping
More workers have accepted a smaller paycheck when changing jobs — and the trend predates the pandemic.
Trends
From Gratuity to Gravity, the Rising Impact of Tips
An increasing share of restaurant worker income comes from tips (Square Payroll Index, 2024): The restaurant industry is about 10% of the total U.S. workforce, and the majority of its 12.4M workers rely on tips for significant income. These tips are becoming a larger share of restaurant worker income, but they are also more volatile due to changing consumer behavior and economic downturns.
Trends
October Surprise: record job disruptions due to extreme weather
October’s exceptionally weak U.S. Jobs Report was among the strangest in recent memory, due in part to extreme weather. The number of people saying they had a job but could not work due to bad weather was easily a record high, more than double the previous record.
Trends
McKinsey’s findings on progress in gender parity
Today women comprise 29% of the C-suite, way up from 17% in 2015. Yet improvement in representation has been notably slower at the entry and manager levels.
Trends
What’s Behind The Drop in Job Tenures?
Tenure continues to decline since its high in 2012. Research shows that female workers, and younger workers overall, were more likely to be short-tenured employees.
Trends
Indeed Hiring Lab’s shocking finding about AI disruption of job skills
Researchers assessed the feasibility of a current Large Language Model performing tasks based on specific skills. They examined over 2,800 skills in Indeed’s taxonomy. And guess how many of those skills were rated as “very likely” to be automated by GenAI? Zero.
Trends
Worker sentiment remains low as the economy turns upward
Insights on worker sentiment, from the Glassdoor Employee Confidence Index (Daniel Zhao) – Sluggish hiring is likely dampening worker sentiment as laid-off workers and new hires find it difficult to get their foot in the door and even employed workers feel stuck in their jobs.
Trends
Labor productivity surges while Amazon ends WFH
US labor productivity has soared in the last five years, far more than other countries. The U.S.’s comparative advantage in technology likely played a key role. Other factors include a more flexible labor market, stronger investment in innovation, and a robust government stimulus that helped fuel a faster post-pandemic recovery.
Trends
Future of Work digest: back to school edition!
Turnover risk is lower when employees can choose where they work (Great Place To Work Institute) – In the words of luminary thinker Daniel Pink: “Companies instituted mandatory return-to-office measures to boost productivity and deepen employee commitment. Turns out those moves had the *opposite* effect.”
Trends
Why the rise in unemployment is overblown
In July’s disappointing report, almost the entire month-to-month increase in unemployment came from “unemployment due to temporary layoff,” i.e. people who expect to be recalled to work. A sign of impending recession? Probably not.