It highlights how The Great Resignation is clearly stressing out the workers left behind:
People are quitting great jobs for even better jobs. People are quitting to become their own boss. People are quitting because they don t actually need the income. To summarise, workers are not only quitting at historically high rates, they re being increasingly choosy about picking their next job. The tight labor market is creating a self-reinforcing loop: Demand is strong, and prices are rising everywhere, but so are wages, as desperate employers trip over themselves to hike pay in a bid to attract and retain talent.
Added to the mix are several other components conspiring to make long-term trends more inflationary, Deutsche Bank Chief Economist Jim Reid wrote this week. These include less support for globalization which has kept pay low the shift away from fossil fuels and — wait for it — declines in the working-age population causing labor shortages. All of these factors are heaping more pressure on an economy and workforce that are clearly in transition. Companies are paying more, which has the ancillary effect of boosting demand and price pressures: Both Goldman Sachs GS and BlackRock BLK recently warned about rising wage costs.
Still, it s simply not sufficient to placate anxious workers in virtually every industry.
However, it puts upward pressure on inflation, which threatens to ravage the economy as former President Donald Trump told Yahoo Finance a couple of weeks ago.
What does that leave employers? Struggling to fill open jobs while also bending over backwards to keep their current staff happy. And by all indications, the dynamic is less than healthy.
Corporations aren t as culturally fluent as they need to be, The Britto Agency's Marvet Britto told Yahoo Finance Live on Thursday, speaking about Dave Chappelle's Netflix backlash. in order to navigate the landmines and trip hazards that organizations will continue to face, she added.
The situation at Netflix — buffeted by bad press in the wake of the Chappelle flare-up — is a bit of its own animal.
Although the stock set a new record high on Thursday I covered some of the reasons why earlier this week the streaming giant s conundrum shows how big companies are being forced to navigate a fraught workplace defined by employee activism, picky hires-in-waiting and more demanding customers. By Javier E. David, editor at Yahoo Finance. ET: Markit U.S. Manufacturing PMI, October preliminary 60.5 expected, 60.7 in September None 9: 45 a.m. ET: Markit U.S. Services PMI, October preliminary 55.2 expected, 54.9 in September None 9: 45 a.m. ET: Markit U.S. Composite PMI, October preliminary 55.0 in September None 6: 30 a.m. ET: Honeywell International HON is expected to report adjusted earnings of $2.00 per share on revenue of $8.64 billion.
ET: VF Corp VFC is expected to report adjusted earnings of $1.15 per share on revenue of $3.50 billion.
ET: American Express AXP is expected to report adjusted earnings of $1.77 per share on revenue of $10.54 billion.
ET: Schlumberger SLB is expected to report adjusted earnings of 36 cents per share on revenue. $5.94 billion in assets and is worth $5.94 billion.
None Vice President Kamala Harris is the administration official charged with hitting the road today to push the Biden economic agenda. She will visit the Northeast Bronx YMCA for a speech at 12: 20 p.m. Top US financial regulators outline plan to tackle climate-related financial risks Yahoo Finance How WeWork traded in its public debut Yahoo Finance Southwest CEO: 'It may be 2022' before sustained profitability.
Tesla just did something stunning, analysts say.
The backlash against efforts to raise taxes is almost religious fervor, says Commerce Secretary Bill Clinton.