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Allen Harris | Mind Your Business: 'Anti-work' revolution


Businesses are finding it challenging to find qualified labor to satisfy returning customers. According to the U.S. Bureau of Labor Statistics, job openings reached a series high of 8.1 million in March 2021, the most recent survey. Yet last month, only 266,000 jobs were filled. Economists had expected more than one million hires.
It’s not totally a labor shortage. It’s also a reassessment of the way people want to work. According to the Pew Research Center, 66 percent of unemployed workers have “seriously considered changing their occupation or field of work.” Workers want more than paychecks; they want careers that provide purpose and meaningful connections. That’s a topic we will tackle more fully in a separate column. ....

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US Stocks end at all-time highs


The US stocks extended gains on Thursday, 11 March 2021, with the Dow and S&P 500, and the broader Nasdaq soar to record highs, as a bigger-than-expected fall in weekly jobless claims and the passage of Washington s $1.9 trillion stimulus package reinforced expectations of a strong economic recovery.
At the close of trade, the Dow Jones Industrial Average index advanced 188.57 points, or 0.58%, to 32,485.59. The S&P500 index added 40.53 points, or 1.04%, to 3,939.34. The tech-heavy Nasdaq Composite Index climbed up 329.84 points, or 2.52%, to 13,398.67.
The markets benefited from optimism about the impact of more fiscal stimulus after the House passed a $1.9 trillion relief package, which President Joe Biden later signed into law. Buying interest was also supported by reports from the Labor Department showing first-time claims for U. S. unemployment benefits fell to a four-month low in the week ended March 6th. ....

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US Stocks rebound on value buying


The US stock market finished session higher on Thursday, 28 January 2021, as investors chased for bottom fishing of stocks following the steep drop seen in the previous session. Buying interest generated amid bigger than expected decline in first-time claims for U. S. unemployment benefits and better than expected domestic gross domestic product data for the fourth quarter of 2020.
At the close of trade, the Dow Jones Industrial Average index added 300.19 points, or 0.99%, to 30,603.36. The S&P 500 index rose 36.61 points, or 0.98%, to 3,787.38. The tech-heavy Nasdaq Composite Index grew 66.5.6 points, or 0.5%, to 13,337.16.
Heavyweights, including Microsoft Corp, Amazon.com and Alphabet Inc, were among the biggest boosts to the market. ....

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US weekly jobless claims decline moderately as Covid tears through nation


WASHINGTON (Reuters) - The number of Americans filing new applications for unemployment benefits decreased modestly last week as the COVID-19 pandemic tears through the nation, raising the risk of a second straight month of job losses.
Initial claims for state unemployment benefits totaled a seasonally adjusted 900,000 for the week ended Jan. 16, compared to 926,000 in the prior week, the Labor Department said on Thursday. Economists polled by Reuters had forecast 910,000 applications in the latest week.
Out of control coronavirus infections are disrupting operations at businesses like restaurants, gyms and other establishments where crowds tend to gather, reducing hours for many workers and pushing others out of employment. ....

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Pamplin Media Group - State loses 25,500 jobs as COVID-19 hammers industries


January 20 2021
Ten months into the pandemic, Oregon has regained just 37% of the jobs lost in this recession.
Oregon lost about 25,500 jobs in December as the state s unemployment rate rose to 6.4% last month.
State employment department officials said Wednesday, Jan. 20, that December s job losses came after the state gained about 2,100 jobs in November. Oregon s unemployment rate in November was 6%.
December s job losses reflect the devastation COVID-19 continues to inflict on the lives and livelihoods of Oregonians, said Gail Krumenauer, Oregon Employment Department economist. Ten months into the pandemic, Oregon has regained just 37% of the jobs lost in this recession.
Officials said the state s leisure and hospitality industry lost the most jobs last month, about 28,600. Several other industries also cut at least 800 jobs in December, including private educational services (down 1,700 jobs), government (down 1,300), wholesale trade (down 1, ....

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