Here, you will learn the latest trends and tendencies in the global work market, freelance, and remote job market fields. One of the most popular tendencies is the global youth unemployment crisis caused by the gap between their skills and skills that are necessary for various vacancies. According to the World Skills Clock by the Education Commission, 67% of the world’s youth are without digital skills. So, a lot of people need to get new skills or be reskilled.
When it comes to general job market trends, a huge number of companies asked how they are responding to the current business environment, 83 percent reported they’re focusing their business strategy on growth, and only 30 percent see recession as a serious risk.
In this news digest, you will get answers to your questions about the latest trends in the remote and freelance jobs marketplace world. Learn more
Field: Global Work Market
- Labor Market Mismatch and Global Youth Employment: Coalition is Key
September 26, 2022
Globally, the population of young people between the ages of 14 and 24 has grown by over 30% to 1.2 billion in just two decades. Over the same period, their participation in the labor market has declined by 12% and is expected to deteriorate further with time.
The World Economic Forum suggests that young people already in the labor market should be upskilled or reskilled. For those yet to enter, the education curriculum must undergo serious scrutiny to align with the ever-changing needs of the labor market.
Source: SAP News Center
- Factory Jobs Are Booming Like It’s the 1970s
September 26, 2022
WASHINGTON — Ever since American manufacturing entered a long stretch of automation and outsourcing in the late 1970s, every recession has led to the loss of factory jobs that never returned. But the recovery from the pandemic recession has been different: American manufacturers have now added enough jobs to regain all that they shed — and then some.
The resurgence has not been driven by companies bringing back factory jobs that had moved overseas, nor by the brawny industrial sectors and regions often evoked by President Biden, former President Donald J. Trump, and other champions of manufacturing.
Instead, the engines in this recovery include pharmaceutical plants, craft breweries, and ice-cream makers. The newly created jobs are more likely to be located in the Mountain West and the Southeast than in the classic industrial strongholds of the Great Lakes.
Source: The New York Times
- Why does work feel so dysfunctional right now? A psychologist, labor expert and CEO weigh in
September 27, 2022
Dysfunction in the Covid-era workforce has reached a fever pitch.
If you’ve talked to anyone about work in the last month, you’ve probably discussed quiet quitting (or setting boundaries), the not-so-quiet backlash from bosses, and even warnings of quiet firing (or managing out).
Railroad workers prepared to go on strike. Starbucks workers are unionizing. Teachers and nurses, burned out beyond belief in year three of the pandemic, say they’re reaching a breaking point.
All the while, the Great Resignation has become less of an anomaly as sky-high turnover every month has become the new norm. Even worries of a looming recession and mounting layoffs haven’t shaken workers’ confidence.
Source: CNBC
- Work Gloves Market Size and Forecast to 2022
September 27, 2022
A recent report published by Verified Market Research, titled [Global Work Gloves Market, History and Forecasts for 2022-2029, data broken down by manufacturers, key regions, types and applications], contains an in-depth analysis of the Global Work Gloves Market. The research report is divided in such a way as to highlight the key areas of the market and give the reader a complete picture. The report examines various aspects of the Work Gloves market, such as its opportunities to explore its driving forces and limitations, market size, market segment analysis, regional prospects, key players and the competitive environment. Market Research Report Work Gloves uses the methodology of primary and secondary research to provide accurate data to its readers. To fully assess the market and key players. Analysts also used SWOT analysis and analysis of Porter’s five strengths.
Source: The Colby Echo News
- Employers React to “Confusing” Labor Market with Layoffs, Retention Plans
September 26, 2022
It’s a perplexing time. Employers desperate to hire and retain talent are planning layoffs and hiring freezes. Organizations addressing labor shortages are boosting pay and benefits to attract candidates while also taking steps to reduce headcount.
Companies are pursuing a range of strategies illustrating the paradoxical nature of the current labor market, according to a PwC survey of 722 U.S. executives—chief human resource officers, chief financial officers, chief operations officers and corporate board directors.
When asked how they are responding to the current business environment, 83 percent said they’re focusing their business strategy on growth and only 30 percent see recession as a serious risk.
Source: Shrm
Field: Remote Work Market
- Why are house prices so high? Blame remote work, not “speculative bubble,” Fed Study News
September 27, 2022
The sudden shift to remote work amid COVID-19 drove more than half of overall U.S. housing price growth during the pandemic — and as it becomes more embedded in our day-to-day life, it’s likely to continue to drive up home prices as well as inflation.
That’s according to new research published Monday by the Federal Reserve Bank of San Francisco, an economic letter titled “Remote Work and Housing Demand.”
“The transition to remote work because of the COVID-19 pandemic has been a key driver of the recent surge in housing prices,” the letter’s authors, economists Augustus Kmetz, John Mondragon, and Johannes Wieland, wrote.
Source: DeseretNews
- Native Americans are getting left behind in the remote work economy
September 26, 2022
The Bureau of Labor Statistics’ (BLS) August jobs report showed a labor market that, while not as hot as earlier in the year, is still showing significant growth. But despite that growth, there remains serious variation in the economic health of different racial and ethnic groups. Namely, August’s unemployment rate for Native Americans was 4.9%—which, while significantly better than its early pandemic peak of 28.6%, is still over a percentage point higher than the national seasonally unadjusted unemployment rate of 3.8%.[1]
In this piece, we report on an important facet of the pandemic economy that has affected how well Native Americans have been able to access employment over the past two years: their ability to work remotely compared to other racial and ethnic groups.
Source: brookings.edu
- 4 ways to create workplaces women won’t want to leave
September 27, 2022
The majority of women in today’s workforce are recruitable.
Fifty-four percent of working women say they are open to a new job in the next six months, according to a July 2022 Great Place To Work® market research survey of nearly 4,200 workers. One in 10 women said they’d like to leave their job, but don’t feel they can.
The typical U.S. workplace is not meeting the core needs of women in terms of fair pay and promotions, and healthy emotional cultures, according to the survey.
That’s a stark difference to what women experience at companies on the Fortune Best Workplaces for Women™ in 2022 list, where gender gaps across nearly every measure of the employee experience are nearly nonexistent. And where a staggering 90% of women say they plan to stay at their jobs a long time.
“We see gender gaps decrease at great companies because they’re creating great cultures for all employees,” says Michael C. Bush, CEO of Great Place To Work, the global authority on workplace culture.
Source: Fortune
- Salary Setbacks Might be a Reality For Some Remote Workers
September 22, 2022
Same job. Same experience. Same pay? Not necessarily. What you earn will likely depend on two things: where you live and whether you work from home.
While most workers in today’s job market have the upper hand, thanks in large part to a labor shortage, remote workers might be at a disadvantage when it comes to negotiating wages.
Remote hiring has boomed in the past few years, skyrocketing 223% between March 2019 and March 2022, according to a new report by payroll and benefits firm Gusto. This new frontier of working from home has prompted employers to rethink how they compensate remote employees.
Employers know people want remote flexibility, and they also know that some job seekers may be willing to take pay cuts in exchange for it. Research has shown some employers are offering remote work flexibility in exchange for lower pay.
Here’s what you should know about how companies tend to structure compensation and what that could mean for you as a remote employee.
Source: Forbes
Freelance Market
- More Startups Scale Up to Serve Freelance And Contract Workers
September 16, 2022
There are plenty of rankings showing the largest employers in every locale. But really, around the world, the biggest employer of paid workers is the same: No one.
Rather, a vast and growing portion of the labor force consists of some form of freelance, contract, gig or self-employed workers. In a number of professional categories around tech and digital media, in particular, those numbers are taking off.
With big societal shifts come big opportunities for startups to make big bucks. Or so the general thinking goes, which might explain why copious quantities of money have been going into an assortment of startups and services geared for contract and freelance work.
Source: News.Crunchbase
- How to Identify Scammers on Freelancing Sites
September 12, 2022
Freelancing has recently become a mainstream employment opportunity, with platforms attracting millions of freelancers and clients. As with any flourishing market, scammers have set out to pillage freelancing sites.
What started as a unicorn occurrence has quickly grown rife and threatens to overrun the once noble industry. Clients are on edge and untrusting, while freelancers work with their hearts in their hands, terrified of the possibility of falling prey to a convincing scam. This article discusses freelancing scams and how to identify and avoid them.
Source: makeuseof
- Rideshare, retailers brace for tough U.S. independent contractor rule
September 27, 2022
WASHINGTON, Sept 27 (Reuters) – After weeks of lobbying the White House on how gig workers should be treated, the rideshare, delivery and retail industries are bracing for a new rule that is likely to make it easier to classify them as employees, multiple sources say. A proposed rule from the Department of Labor, aimed at defining whether gig workers for companies including Uber (UBER.N), Lyft (LYFT.O), DoorDash (DASH.N) and retailers such as Amazon.com Inc are misidentified as independent contractors, is under review at the White House’s Office of Information and Regulatory Affairs (OIRA) and is expected to be released in coming weeks.Source: Reuters
