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FRI, AUG 19, 2022
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TECH, TRANSFORMATION AND THE FUTURE OF WORK
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Welcome to the CNBC @Work newsletter, brought to you by CNBC Events. Think a friend, colleague or business partner should receive this newsletter? Subscribe here.
It has been nearly two months since the Supreme Court overturned Roe v. Wade, and it is already starting to affect how both women and men make career decisions. A recent LeanIn.Org survey found that 34% of workers under 40 are considering switching jobs for a company that has better reproductive health care and publicly supports a woman’s right to choose.
With remote work becoming a more popular and prevalent option, there are questions about how that will affect an employee’s health care. If the company is based in a state that bans abortion and the employee resides in a state where it is legal, which state laws dictate the individual’s health care? It’s a conundrum that led one California woman to turn down a $300,000 job at an Oklahoma company.
Meanwhile, workers who live in states with reproductive health care restrictions are seriously considering leaving. Some companies are deciding to look elsewhere too: Eli Lilly, one of Indiana’s largest employers, has come out against the state’s abortion ban and has said it will start looking to hire out-of-state. If workers and businesses continue to leave, states restricting abortion access will likely see a significant economic impact.
For more on the world of work, check out our Key Stories roundup below.
Until next time, stay safe, stay healthy and stay in touch.
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Despite fears of a recession, the U.S. remains in the midst of the Great Resignation with job dissatisfaction at an all-time high.
The U.S. Department of Labor issued data in July confirming that the job market continues to be characterized by ample job opportunities and high levels of voluntary resignations, revealing that even after two years since the pandemic first began, millions of workers continue to leave their jobs each month. These departures are made possible by enhanced mobility during a time of extreme labor shortages, and continue to be driven by wage stagnation amid the rising cost of living and the desire to achieve more work flexibility and job satisfaction.
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Initial filings for unemployment benefits declined slightly last week though they were consistent with a drift higher in layoffs that began in the spring, the Labor Department reported Thursday.
Jobless claims totaled 250,000 for the week ended Aug. 13, down 2,000 from the previous week and below the 260,000 Dow Jones estimate.
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Despite some indications of an economic slowdown, the job market remains remarkably stable, and many workers have reaped the benefits.
In fact, a record number of employees quit their jobs, found new positions and renegotiated along the way.
But not everyone who joined the so-called Great Reshuffle is better off.
More than a quarter — or 26% — of workers who quit regret their decision, according to a recent survey of more than 15,000 job seekers by Joblist, a job-search platform.
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Delivering Alpha Investor Summit | Crossroads of Risk and Opportunity | September 28
With pervasive economic uncertainty, an outbreak of economic and military warfare, inflation setting records, central banks scrambling to adjust policies, and the long shadow of the pandemic obscuring vision, investors are navigating a market at a crossroads. Is the selloff in equities coming to an end? What’s the right path forward for credit investing? Which alternatives provide the best return? Managing risk versus reward, optimizing returns and navigating this new market dynamic amid a challenging environment is the focal point for this year’s Delivering Alpha Investor Summit.
Learn more and register here.
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