Business News & Trends – April/May 2022
Updated: Apr 21, 2022
Hey there, Insiders!
April is a busy month with the filing of taxes. Yes, mine were done early this year. Easter was just this past weekend and Spring is near. It is time to reflect, check-in on our progress with our resolutions, yearly goals, and step into new beginnings.
The year is nearly half over! It’s amazing how time flies by. Take some time to review your yearly goals---both personal and professional. Are you on track? If you find you’re lagging, you still have time to get going. To help you there’s inspiration coming your way. As well as lot of business news and trends.
Your Insider, Sindy
"Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma-which is living with the results of other people’s thinking.” Steve Jobs
“Many of life’s failures are people who did not realize how close they were to success when they gave up.” Thomas Edison
Insider’s Career Club Podcasts – Coming Up!
Insider’s Career Club Podcasts go LIVE on 4/6/22 & 4/20/22 Be sure to listen!
Season 2, Episode 6, Wes Burwell, VP, HR, Bolt Therapeutics, with Sindy Thomas
Wesley (Wes) Burwell VP, HR for Bolt Therapeutics is our guest today. Hear how his career in accounting diverted into an HR career. He's also the best networker I know and will share a secret or two about networking.
Or here: https://www.buzzsprout.com/1448059/10390403
Season 2, Episode #7, Brad Burris, Sr. Director, Govt. Accts., Pear Therapeutics, with Sindy Thomas
Know what managed care is? You should it impacts what you pay for prescription drugs. Brad Burris, Sr. Dir. Govt. Accts. at Pear Therapeutics is a leader in managed care for 32 years in the biopharmaceutical industry.
Or here: https://www.buzzsprout.com/1448059/10450331
Reboot -California Considering a 4-Day Work Week
Last time we explored the 4-day work week and how behind we are in the US.
California and several other states are now considering a 4-day work week. This is good news but there is much work to be done. Not every job will work with this format. Positions like news Reporters and others where you tend to work 40+ hours may be hold outs while the kinks get worked out. Humm, could vacations be the next workplace bastion to fall? Afterall, while employers are looking for a leg-up on the competition to keep their employees, everything is up for consideration. Stay tuned.
History Made - Supreme Court Justice Confirmed!
Justice Ketanji Brown Jackson has been confirmed to be the first Black woman to serve on the Supreme Court. Though it was always likely she would be confirmed, Justice Jackson endured contention and discriminating remarks during her confirmation hearings. Kudos to you Justice Jackson. Well done!
The Harvard Business Review reports 70% of independent workers believe that independent gigs are more secure than the traditional full-time job. This comes from a 2021 survey that also shows the pandemic has forced workers to rethink their home and work lives.
Bigger paychecks. The New York Times reports wages increased by 5.6% from the previous year. Much higher than the usual 2-3% annual wage increases. The most marked wage increases were in the leisure and hospitality industry of up to 15% for non- manager positions.
Resigning Power. The power switch goes on. In this tight labor market, some workers are flexing their power by quitting. This is according to talent experts Bryan Hancock and Bill Schaninger. McKinsey research also shows that of those workers who quit their jobs, only a third are returning to full-time employment.
HOPEFUL FACT. In 2019 it became illegal for employers to ask about wage history. Keep this in mind as you look for new jobs and discuss salary.
For Women Only – Don’t Miss This!
Though it came and went with little notice the National Committee for Pay Equity (NCPE) marked Equal Pay Day on March 15th. The day draws attention to the serious gender pay gap women workers in the US face.
Here are some astounding facts:
Women are typically paid just 84 cents for each dollar men make—with an even wider gap for minority women.
Latinas & Native American women were typically paid 57 cents and
Black women were typically paid 64 cents.
Another appalling fact. If we were to look only at the median wage gap for women working full-time who began their careers at age 20, a white woman must work until she’s 72 to earn the same amount of money a man has earned by age 60. She typically loses $417,400 over the course of her working career. For Latinas, Native American and Black women the loss is approximately $1 million.
The Economy & Jobs
Data from the most recent from the Bureau of Labor Statistics suggest America’s worker shortage is far from over. The BLS data also shows the US still has 11.3 million job openings.
Even though 6.5 million people were hired between December 2021 and January 2022. The number of job openings is still high because 4.3 million Americans quit their jobs at the start of the year.
More jobs. We are continuing to see more job opening as people move about in the job market. February reports a job gain of more than 678,000 new jobs versus the expected job gain of 400,000-450,000 estimate which makes February numbers remarkable. Industries making the biggest job gains were in the leisure and hospitality, professional and business services, health care, and construction. Temporary employment services saw a 44% increase in jobs; and transportation and warehousing, had a gain of 47.6%. From TLNT
Love is in the Air. SHRM the Society for Human Resource Management research suggests workplace romances are blossoming once more. Of those polled 33% said they were currently involved or have been involved in a workplace romance. This is up 6% from before coronavirus struck. Also 65% of those polled are dating their peers; while 12% are dating subordinates and 19% are dating their superiors. The last two statistics may lead to some sticky workplace situations.
Got a big interview coming up? A Mock Interview Coaching Session gets you ready to make a great impression in your interview(s). Increase your chances to advance to the next interview.
Considering a career change? In a Career Exploration Session, I’ll work with you to guide you on your path to making a career change.
Let’s talk about what works best for you. Book a free 20-minute Discovery call now!
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