Monday, July 26

Unemployment

coronavirus, COVID-19, DFP, Federal student loan, Loans, Personal Finance, Personal Finance How To, Personal Finance Insider, pfi, PFI GOBankingRates, PFI Reference, PFI Related Content Module, PFI-XAMP, Student Loan Debt, Student Loans, TOC-jump-to, Unemployment

How to apply for an income-driven repayment plan if your student loans are crushing you

There are several reduced-payment options for those who meet income and family size requirements. An income-driven repayment plan may be a good choice if you can't handle your monthly payments. Your federal student loans are in forbearance until September 30, 2021. Read more personal finance coverage. Many Americans are still feeling financial pressure as the US rebounds from the devastating economic impact of the coronavirus pandemic, and that's especially true for anyone in the midst of paying back a student loan. If you're suddenly working reduced hours or have lost your job entirely, that previously manageable monthly payment might be looking a lot hig...
BI Commentary, Commentary Freelancer, Congress, Economy, Opinión, Payroll Tax, Politics, Unemployment

Congress is sitting on an easy solution to speed job growth without causing inflation

Congress should suspend employer payroll taxes for businesses that expand their current payrolls with new hires from the long-term unemployed. This kind of targeted tax cut was already done before in 2010, proved to be bipartisan, and doesn't cause inflation. A CBO study ranks this tool in the top tier for being cost effective in reducing unemployment. Joseph S. Fichera has served since 2000 as chief executive officer of Saber Partners, LLC, a boutique financial consulting firm for regulators and corporations. This is an opinion column. The thoughts expressed are those of the author. See more stories on Insider's business page. ...
BI-freelancer, contributor 2019, Hamptons, Hiring, Hospitality, Jobs, Nordic, Personal Essay, Retail, Small Business Owner, Strategy, Summer, Unemployment, Work

I own 2 Hamptons hot spots that are busier than ever — but the worker shortage is crushing us

Zach Erdem is the owner of 75 Main and Blu Mar, two eateries in Southampton, New York. Since reopening in June, Erdem says he's struggled to find workers despite increasing the hourly pay. Here's what hiring has been like for him post-pandemic, as told to freelance writer Jenny Powers. LoadingSomething is loading. ...
Economy, JOLTS, Labor Market, labor shortage, Markets, Minimum Wage, quit job, Quits, Quitting, Unemployment

2 ways jobs and pay didn’t make sense before the pandemic that are now’unwinding’, according to a top economist

Right now, a whole lot of jobs are open — and a whole bunch of workers are quitting. But the labor market being weird is nothing new, according to economist William Spriggs. The current shifts could be an'unwinding' of more than a decade of declining wages and an aging workforce. LoadingSomething is loading. ...
Bain and Company, BI-freelancer, career advice, Careers, College Graduates, contributor 2019, Jobs, Nordic, Strategy, Unemployment

Bain & Company’s head of recruiting shares his top job-seeking tips for people feeling uncertain after the pandemic

Keith Bevans is the head of global consultant recruitment at Bain & Company. He spoke with Insider about how job-hunting has changed for recent graduates during the pandemic. Job-seekers should be open-minded and flexible rather than hyper-focused on any one company or position. See more stories on Insider's business page. The global impact of the the pandemic has left many college students and recent graduates uncertain about their professional futures.Keith Bevans, partner at Bain & Company and leader of their global consultant recruitment efforts, understands the uncertainty many of these individuals are facing. Bevans enrolled ...
Economy, JPMorgan, Markets, pandemic unemployment assistance, Unemployment, Unemployment aid, Unemployment benefits, unemployment filings

There’s’little sign’ that ending unemployment benefits early pushed people back to work, JPMorgan says

Over half of the states in the US have ended federal benefits ahead of their September expiration. Many governors cited the enhanced benefits as keeping workers out of the labor force. But a JPMorgan note says there's little sign that cutting off benefits brought workers back. LoadingSomething is loading. ...
Economy, Employment, Hospitality, Jobs, labor shortage, Leisure, Restaurants, Retail, Unemployment, Work

A third of former hospitality workers say they won’t return to the industry because they want higher pay, better benefits, and a new work environment

A third of former hospitality workers say they won't return to the industry at all, per a survey by Joblist. They want better pay and benefits than the industry can offer, they say. Hospitality pays less than other industries, but the labor shortage is forcing companies to push wages up. LoadingSomething is loading. ...
Economy, Larry Hogan, Maryland, Politics, State Aid, State unemployment, Unemployment, Unemployment benefits, weekend BI US

Maryland to continue paying federal unemployment benefits after judge rules against Governor Hogan

Federal unemployment benefits will continue to be paid in Maryland after a judge ruled against Governor Larry Hogan. Maryland was set to end the pandemic unemployment aid Saturday evening, which includes $300 weekly payments. Governor Hogan has indicated that he will immediately appeal the decision. LoadingSomething is loading. ...
BI Graphics, Economy, Inequality, Markets, Racism, Unemployment, Unemployment aid, Unemployment benefits, wage gap, Women at Work

Women and people of color are missing out on June’s celebrated wage and job growth

June's jobs report showed promising signs of recovery, with gains exceeding expectations. But women and people of color are still seeing a different story as recovery continues. More women rejoined the labor force, but the vast majority are unemployed. LoadingSomething is loading. ...
Bureau of Labor Statistics, Economy, Hospitality, Indeed, Job Growth, Jobs, Jobs Report, Labor, Leisure, Markets, nick bunker, Politics, Retail, Unemployment, Wages

Leisure and hospitality workers got a ton of jobs in June — and they got a raise

Leisure and hospitality added 343,000 payrolls in June, making up 40% of total job gains. The June jobs report also showed higher wages for those workers, suggesting pay increases are helping hiring. But wages in the sector are still recovering from the hit caused by the coronavirus recession. See more stories on Insider's business page. The June jobs report added 850,000 payrolls, going beyond expectations as the economy continues to recover from the pandemic. A large chunk of the big jobs gain came from leisure and hospitality, and the reason for this likely comes down to higher wages.Of the 850,000 payrolls added, leisure and ho...