The Week in Business: Jobs Added, but at a Slower Pace

Happy Labor Day weekend! I hope you are enjoying some rest, even if it’s just a staycation. Here’s the business and tech news you need to know for the (short!) week ahead. — Gillian Friedman

The United States added 1.4 million jobs in August, as employers continued to bring back workers but at a slower pace from the 1.7 million jobs added in July and down significantly from the additional 4.8 million jobs in June. And while the unemployment rate fell to 8.4 percent, from 10.2 percent in July, payrolls are still more than 11 million jobs below their pre-pandemic level. The jobs report on Friday provided some of the first data on the state of the economy as emergency federal spending, including the $600 weekly supplement to unemployment benefits, came to an end. But because the data was

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Pace of change speeds up for further education and training

When Solas, the further education and training (FET) agency, was established in 2013, the sector began to grow in importance.

The new agency quickly began a long-overdue reform and overhaul of apprenticeships. Further education colleges strengthened their links with the higher education sector and, over time, post-Leaving Cert courses started to become a serious first-choice for more and more students.

The training sector opened up a whole new set of job opportunities for people who wanted to retrain or learn a new skill without necessarily having to go to college. And apprenticeships have grown from as low as 1,200 about 10 years ago, in a limited range of mostly craft courses such as motor mechanics and plumbing, to 16,000 last year and coming on 18,000 this year, with newer options including auctioneering, cybersecurity, supply chain manager, sales and laboratory analyst.

Under the recently-departed director of communications, Nikki Gallagher, Solas began

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August jobs report preview: Economists expect job gains at slower pace

  • The median economist estimate for Friday’s US nonfarm payrolls report is that the economy added 1.37 jobs in August, according to Bloomberg data. 
  • That’s a slower pace of jobs gained than in previous months, signaling that the labor market recovery is faltering as the coronavirus pandemic persists. 
  • “We shouldn’t confuse some improvement with a economy that is roaring back,” Nick Bunker, an economist at Indeed, told Business Insider. 
  • Visit Business Insider’s homepage for more stories.

Economists expect that Friday’s August nonfarm payrolls report, set to be released by the Labor Department, will show that the pace of the recovery from the coronavirus pandemic has lost further momentum. 

The median economist estimate is that the US economy added back 1.37 million jobs in August, according to Bloomberg data. That’s less than the 1.8 million added in July and the 4.8 million added in June. Again, there is a wide range of

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Jobs furlough scheme unwind gathers pace

Companies using the government’s coronavirus furlough scheme are now having to contribute to workers’ wages.

Since March, the Coronavirus Job Retention Scheme has paid 80% of the wages of workers placed on leave, up to a maximum of £2,500 a month.

But now that is going down to 70%, with the employer paying 10%.

Chancellor Rishi Sunak has repeatedly ruled out an extension to it.” data-reactid=”35″The scheme is due to finish at the end of October and Chancellor Rishi Sunak has repeatedly ruled out an extension to it.

Last month, he said it was “wrong to keep people trapped” in a situation where there was no realistic prospect of them having a job to go back to.

From 1 September, the government will pay 70% of wages up to a cap of £2,187.50 a month. Employers are already paying employees’ pension contributions and National Insurance, but will now have

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