Job vacancies in the United States have hit a record-high with reports that labour demand has surpassed the number of workers available.
On the last day of June, job openings jumped from 9.5 million vacancies to 10.1 million, according to figures released by the Labor Department.
Despite restrictions easing across the country due to an increase in vaccination rates, it hasn’t been enough to convince workers to return to the workforce.
Additionally, companies are struggling to find workers to fill an excess in job vacancies within the hospitality, tourism and leisure sectors.
“The ratio of openings to hires, despite easing in June, remained at historically elevated levels,” JPMorgan analyst Peter McCrory said.
Companies are using a range of techniques such as introducing flexible work hours, higher salaries and signing bonuses to draw unemployed individuals to the workforce.
However, as the numbers show, these attempts don’t appear to be working.
Some are blaming the shortage of jobseekers on generous government schemes targeted towards those who have lost their jobs due to the pandemic as well as a lack of affordable childcare.
It’s also being said that there is an excess in low-skilled jobs being advertised which only appeal to a selected group of candidates.
Nick Bunker, Indeed’s Economic Research Director says easy access to government subsidies could be a key contributor to unemployed individuals not wanting to find work.
“Money issues seem to be a rising concern among unemployed workers not searching urgently” Bunker says.
“More of them said the end of [unemployment insurance] benefits or financial cushions running low were major milestones that could prompt them to take a job.”
The resurgence in cases due to the Delta outbreak is also keeping potential workers at home, adding to the growing list of reasons which continues to see 8.6 million people out of work.
Labour leader Keir Starmer is advocating for strong measures to regulate artificial intelligence in the UK. He argues that such steps are vital to protect jobs and ensure public safety as technology evolves at a rapid pace.
Starmer has outlined a proposed governance framework to oversee the development and use of AI. He highlights the importance of collaboration between the government and tech companies to establish responsible guidelines.
This approach reflects a major shift in the UK’s strategy, balancing the transformative potential of AI with the need to safeguard workers and society.
Firefighters in California are waging an intense battle against historic wildfires.
Fire officials are employing a specialized fleet of aircraft to combat the flames from above.
The state’s aerial fleet, managed by Cal Fire, is the largest department-owned firefighting aviation unit in the world, operating from 14 airfields and 11 helicopter bases across the state.
However, a troubling revelation has emerged: a critical reservoir in Pacific Palisades, part of Los Angeles’ water supply system, was out of commission during the height of the fires, raising serious concerns about water availability for firefighting efforts.
As the fires continue to claim lives and devastate communities, we explore the coordination, challenges, and critical gaps in resources impacting the emergency response.
Oz Sultan, the Chief Strategist with the Sultan Interactive Group joins Veronica Dudo to discuss.
Biden warns Trump team on climate denial, pushes for Gaza ceasefire with hostages’ release and humanitarian assistance.
Joe Biden has delivered his last policy speech, addressing critical issues facing the future.
In his remarks, he directly challenged officials in the incoming Trump administration who doubt the reality of climate change.
Biden stated, “They are dead wrong. It’s the single greatest existential threat to humanity.”
He said that the transition to clean energy is already underway and highlighted the competition with China for dominance in clean energy manufacturing and supply chains.
Biden asserted that the United States must succeed in this contest to shape the global economy for decades.
Biden announced he is actively pursuing a ceasefire deal in Gaza during his final days in office.
He stated that the proposed deal aims to release hostages held by Hamas and halt the ongoing fighting.
Biden indicated that this agreement would also enhance security for Israel while significantly increasing humanitarian assistance to the region.
He expressed understanding for the suffering of the Palestinian people, stating they have experienced immense hardship due to the conflict initiated by Hamas.
He stressed the urgency of closing the deal to reunite families with their loved ones taken as hostages.
Biden’s focus on these pressing matters reflects his commitment to addressing significant global challenges even as his presidency comes to a close.