JOBS. U.S. Unemployment Rolls Shrink
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Quote of the Week
“If you're walking down the right path and you're willing to keep walking, eventually you'll make progress.” —Barack Obama.
Published on August 12, 2021
An educator, speaker, consultant, founder, investor, and squash and soccer enthusiast. Glen is the co-founder of the WorkSchool
The number of Americans filing new claims for unemployment benefits declined further last week, while layoffs dropped to their lowest level in just over 21 years in July as companies held on to workers amid a labor shortage.
What is happening: The weekly unemployment claims report from the Labor Department on Thursday, the most timely data on the economy's health, also showed the number of people on state jobless rolls dropped in late July to its lowest level since March 2020, when mandatory closures of nonessential businesses were enforced to slow the first wave of COVID-19 cases.
Though the data falls outside the survey period for July's closely watched employment report, it bolstered economists' expectations for another month of strong payroll gains. The employment report for July is due to be released on Friday.
“From an employment-estimating perspective, this suggests a hefty increase in nonfarm payrolls tomorrow,”said Chris Low, chief economist at FHN Financial in New York.
What to know: Initial claims for state unemployment benefits fell 14,000 to a seasonally adjusted 385,000 for the week ended July 31. Data for the prior week was revised to show 1,000 fewer applications received than previously reported.
Economists polled by Reuters had forecast 384,000 applications for the latest week. Unadjusted claims, which economists say offer a better read of the labor market, decreased 20,602 to 323,763 last week.
Looking forward: Still, the labor market recovery has a long way to go. About 12.975 million people were receiving unemployment checks under all programs in mid-July.
Target To Pay For Employees' College Education
Some good news for Target's Employees as the cooperation reveals on Wednesday it would pay for the full cost of college for its workforce.
The offer covers more than 340,000 U.S.-based employees and constitutes what Target called “the most comprehensive debt-free education assistance program available in the retail industry.”
The offer begins this fall, making all part-time and full-time Target employees eligible for company-paid tuition for hundreds of undergraduate degree and certification programs. The deal also will provide free textbooks, pay for course fees, and cover other incidental educational expenses.
Way Forward: According to the company, the new education assistance benefit is part of Target Forward, a new corporate strategy, unveiled earlier this summer, that aims – among other goals – to create an equitable and inclusive workforce. It also complements several other Target programs designed to support the health, safety, well-being and career development of its workers, including recognition bonuses, free virtual doctor visits, and free mental health counseling services.
Big picture: The new educational benefit will apply to employees on their first day of work. It’s estimated that the program could cost Target at least $200 million over the next four years.
TOP 5 COURSES ON WORKSCHOOL THIS WEEK
WorkSchool is back with exciting courses on its portal. Looking to elevate your career or get a start in tech, you should sign up for any of our courses.
This week we have our top five amazing courses that will advance your career, don't let it go, just take the bold step today. You can enroll immediately.
Here are the top five courses on WorkSchool this week:
Why enroll now: Don't sleep on it. Building a tech career for yourself is the most rewarding investment you can have at this time. These courses will help you improve at your current job, and give you the opportunity to pick up a new skill.
Duration: You can complete the courses and earn your certificate within some hours.
Big picture: There is no sector in the world where technical skills are not needed. An average computer programmer makes over $50,000usd. You can be among the few people transforming their lives with tech. Transitioning to tech is made easy with WorkSchool.
Front End Engineer
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Spotify · New York, NY APPLY NOW
Full-Stack Software Engineer II
Microsoft · New York, NY APPLY NOW
Software Engineer (Leadership) - Infrastructure
Facebook · New York, NY APPLY NOW
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Global Online Youth Education Summit 2021.
Nelson Mandela once said, “Education is the most powerful weapon which you can use to change the world”. Accordingly, providing quality education for all stands very crucial in every nation of the world. A greater number of students in India are deprived of a proper education because of different circumstances. Holding onto these thoughts, Akanksha has embarked with a group of friends aiming to create a platform for passionate young minds to explore their inner self, discover hidden talents and enrich their journey towards a glorious future.
Today the team has more than 130 youths working towards the same cause reaching 17000+ youths across the globe.
The event focuses on the “Sustainable Development Goal (SDG) 4 – Quality Education” adopted by the United Nations for a peaceful and prosperous future.
The event includes:
- Sessions by eminent educationalists
- Panel discussion
- SDG hackathon (participants have to come up with solutions for the current problems in the education system)
Participants will be given a chance to interact with educationalists and can explore new possibilities for attaining quality in education.
click here to apply
Attend ASU+GSV Summit 2021.
ASU+GSV Summit is three days of programming with two big focuses: founders and investors shaping the future of disruptive technology and ideas and startup experts providing insights to entrepreneurs. It's where hundreds of startups across a variety of categories tell their stories to 10,000+ influencers from all around the world. It's the ultimate Silicon Valley experience where the leaders of the startup world gather to ask questions, make connections and be inspired.
Date: August 9-11
Where: San Diego, CA: Manchester Grand Hyatt
click here to register
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