Unfilled manufacturing jobs could cost $1 trillion to the economy: Even though U.S. manufacturing activity surged to a 37-year high in March, the industry has more than half a million job openings. Factories are struggling to find skilled workers for specialized roles such as welders and machinists. Manufacturers are even having trouble hiring entry-level positions that do not require expertise. The talent shortage is not new — but it's getting worse and could have far-reaching consequences beyond the manufacturing industry. Manufacturers are also having trouble filling middle-skill jobs that require some level of technical training or applied skills. Those jobs include computer numerical control machinists, welders, and maintenance technicians and often require training, licensing, or certification. As many as 2.1 million manufacturing jobs will be unfilled through 2030, according to a study published Tuesday by Deloitte and The Manufacturing Institute. The report warns the worker shortage will hurt revenue and production and could ultimately cost the U.S. economy up to $1 trillion by 2030. Source: CNN 5/4/21
Alphabet adds environmental, social, and governance goals to bonus program: Alphabet said it will create a bonus program for senior executives that’s partly based on their performance in supporting environmental, social, and governance goals. The program will begin in 2022, the company’s Chairman John Hennessey wrote in an annual proxy filing. ESG goals “have long been a key part of Alphabet and Google’s work,” he added in a letter to shareholders. In addition, given the issues arising at the company, it is creating a new Diversity, Equity, and Inclusion Advisory Council, which comprises senior company executives and external experts in the field. Source: EBN 4/26/21
Post pandemic work may adversely impact diversity: According to a new survey from CareerBuilder, even with vaccine rollouts and gradual economic recovery, pandemic-related job loss continues to have a major impact on specific and disproportionately affected worker groups. A third of overall respondents, 45% of Black Americans, and 49% of unemployed women said they would accept a 10% pay cut in order to be employed. 34% of women resigned or reduced work hours due to personal responsibilities, including caregiving and schooling; non-white women were the most impacted. 22% of women said they would turn down a job that didn't offer work from home (compared to 13% of men). 36% of women applied to a job outside their geographic region based on remote work expectations (compared to 27% of men). But work from home isn't playing out equally across race: 67% of Black and Hispanic women stated they had not applied to a job outside of their geographic region. Just 18% of Black Americans would turn down a job if it didn't allow a work from home option. 26% of 18-to-24-year-olds said they would turn down a job if it didn't offer a remote work option. Of that same age group, nearly half (49%) have applied for a job outside of their geographic region with expectations of future work from home flexibility. Source: Careerbuilder 4/27/21
More workers considering retirement: Financial advisers say they’re seeing a new “life-is-short” attitude among clients with enough money socked away to carry them through retirement. About 2.7 million Americans aged 55 or older are contemplating retirement years earlier than they’d imagined because of the pandemic, government data show. They’re more likely to be white, a group that typically has a larger amount of accumulated wealth, and many cite robust retirement accounts and Covid-19 fatigue for their early exit, according to interviews with wealth managers and federal surveys. Early retirements, whether desired or forced, will deprive the labor market of some of its most productive workers and have an impact on the economic recovery that is still too early to evaluate. Federal Reserve Chairman Jerome Powell this week cited a “significant number" of people saying they've retired as one reason companies are reporting labor shortages, although it's unclear if they'll eventually rejoin the job market. Source: EBN 5/3/21
Lilly Ledbetter Law applies to equal pay claims: In a legal fight that went all the way to the Supreme Court of the United States, the highest court in the land ruled in Ledbetter v. Goodyear (2007) that her sex-based pay discrimination claim was time-barred by Title VII of the Civil Rights Act. The Court reasoned in a 5-4 opinion that the law only provides a 180-day statute of limitations period from the date the discriminatory decision is made. Ms. Ledbetter, according to the Court, was too late. In response, President Obama signed the Lilly Ledbetter Fair Pay Act in 2009, which restarts the clock on the statute of limitations with every new, discriminatory paycheck. This is the paycheck accrual rule. Twelve years after the passage of the Ledbetter Fair Pay Act, the Seventh Circuit Court of Appeals has ruled that the paycheck accrual rule applies not only to Title VII but also extends to the Equal Pay Act and any act of pay discrimination. Therefore, with each new pay period, a new statute of limitations period begins on employee claims for pay discrimination. If employers haven’t already, they should conduct pay disparity analysis under their attorney’s guidance. It’s a lawsuit waiting to happen. ASE can assist with these audits. For more information, contact Anthony Kaylin at [email protected]. Source: PayParity Post 4/28/21
Are you missing office gossip? Gossip, the thread of whispered conversation and conjecture that once flowed through the workplace, has dwindled in our new network of home offices and half-empty headquarters. Detached from many of our work friends, forced to type out most of our thoughts, we’re finding that gossiping feels risky, weird, and hard. Serendipitous run-ins with colleagues from other departments by the coffee machine—Did you hear what happened in sales? Did you know she’s leaving?—have been replaced by formal Zooms with little time for chitchat. Hybrid work schedules mean even when we’re in the office, many others aren’t. In a recent survey of 504 employees and business owners by law firm Seyfarth Shaw, the top thing people reported longing for after a year of remote work was “in-person and ‘grown-up’ workplace conversations.” “We need to do it,” says Dr. Labianca, who studies gossip, which researchers define as two people speaking evaluatively about someone who’s not there. Dr. Labianca expands the concept to include rumors, like the threat of layoffs. It gets a bad rap, but gossip can relay positive news, like when you pass along that a co-worker crushed it at a presentation. It also provides stress relief and intellectual stimulation, helps us gain influence, and fosters interpersonal intimacy. Source: Wall Street Journal 4/18/21
What were the top 10 baby names in 2020? Olivia and Liam were once again America’s most popular baby names in 2020. It appears parents chose to stick with the familiar during an unprecedented time, with the top three names for both girls - Olivia, Emma, and Ava - and boys - Liam, Noah, and Oliver - remaining the same for the second year in a row. In fact, out of both Top 10 lists combined, only two names changed, with the traditional names Henry and Alexander edging out Mason and Ethan. The name Henry has been steadily rising in popularity, last appearing in the Top 10 over a century ago, in 1910. Here are the top ten names for boys and girls:
Boys Girls
1. Liam 1. Olivia
2. Noah 2. Emma
3. Oliver 3. Ava
4. Elijah 4. Charlotte
5. William 5. Sophia
6. James 6. Amelia
7. Benjamin 7. Isabella
8. Lucas 8. Mia
9. Henry 9. Evelyn
10. Alexander 10. Harper
For all of the top baby names of 2020, and to see where the names rank, go to Social Security’s website, www.socialsecurity.gov/babynames. Source: Social Security 5/7/21