More U.S. employees are hugging tight to their jobs. Here's why.
CBSN
Employees in the U.S are clinging to their jobs in a labor market characterized by historically low rates of worker turnover, recent data shows. Edited by Alain Sherter In:
Employees in the U.S are clinging to their jobs in a labor market characterized by historically low rates of worker turnover, recent data shows.
Data from ADP Research, a provider of labor market analysis, shows that workers are leaving their jobs either through quitting or layoffs at an unusually low rate. Measured by the rate of employee turnover, so-called job "stickiness" is at a multi-year high as many workers hunker down amid significant economic uncertainty. The pace of job turnover hit a nine-year low in January, at 5.8%, ADP found.
"What this means for the labor market is that workers and employers, for now, are sticking together," ADP chief economist Nela Richardson said in a recent report.
This dynamic, sometimes referred to as "job hugging," is currently most visible among white-collar workers in finance, information technology and professional business services. These are also among the industries that are most exposed to AI-driven changes in hiring, with a number of large companies attributing recent job cuts to AI.
"These sectors have made headlines recently as advances in artificial intelligence both augment employment (through demand for developers, for example) and curtail it (by automating tasks)," Richardson wrote.
Washington — President Trump said Sunday that he is willing to speak with the new leadership in Iran following the death of Supreme Leader Ayatollah Ali Khamenei, the country's longtime leader, who was killed in Israeli airstrikes on Saturday. Kristin Brown contributed to this report.
Danise Baird, the wife of Indiana Rep. Jim Baird, has died following complications from injuries stemming from a car crash with her husband in January, the Republican lawmaker's office announced on Sunday.
This time it was Hilary Knight's turn to provide a big laugh — with an assist from the "Saturday Night Live" writers — in the wake of a weeklong dust-up involving the United States women's and men's Olympic gold medal-winning hockey teams. In:
"It's about the principle of standing up for what's right," said Dario Amodei, CEO of the artificial intelligence firm Anthropic, who has found himself at the center of a new kind of firestorm. What's wrong, in his view, is why the AI company he co-founded has been banned from the federal government. In:
The U.S. Central Command said Sunday that three American service members were killed and five others were seriously wounded as part of the joint U.S.-Israeli military operation in Iran.
The first Persian Gulf War lasted six weeks. Kuwait was liberated from the murderous grasp of Saddam Hussein, and the Iraqi army admitted defeat, at a surrender ceremony presided over by the charismatic General Norman Schwarzkopf, who said of Iraq's leadership, "I'm not here to give them anything. I'm here to tell them exactly what we expect them to do." In:
Washington — The Supreme Court is set to hear arguments Monday in a Second Amendment dispute over a federal law that bars unlawful drug users from possessing firearms.
Gunfire rang out as a bar in Austin, Texas was closing early Sunday and at least three people were killed, authorities said. In:
President Trump told CBS News on Saturday evening that he believes U.S. and Israeli attacks that killed Supreme Leader Ayatollah Ali Khamenei have been effective and could create a pathway to diplomacy. In:
A chocolate male enhancement supplement is being recalled because it contains a prescription drug used to treat erectile dysfunction, federal health officials said Friday. In:
Sen. Tom Cotton, the chairman of the Senate Intelligence Committee, said Saturday that he believes that there could be "weeks, not days, of joint efforts" by the U.S. and its allies in Iran after the massive military mission launched overnight.