U.S. employers added 303,000 jobs in March, according to a report released Friday, April 5, by the Department of Labor’s Bureau of Labor Statistics (BLS).
CNN reported the total far surpassed economists’ forecasts for 205,000 jobs gained. The jobless rate dropped to 3.8%, vs. 3.9% in February.
Last month’s job growth was driven by industries such as health care (+72,300 jobs), government (+71,000 jobs), leisure and hospitality (+49,000 jobs), and construction (+39,000 jobs).
The economy has added jobs for 39 consecutive months, marking the fifth-longest period of job expansion on record, according to BLS data. The unemployment rate has been below 4% for 26 months in a row, the longest streak since the late 1960s.
McKinsey Offers Staff Nine Months of Pay, Resources to Leave
Global management consulting firm McKinsey & Company is offering career-coaching services and nine months’ worth of pay to U.K. staffers to leave the company, according to a Business Insider report.
Managers for McKinsey’s U.K. offices could spend up to nine months searching for a job instead of working on client projects. Managers would also have access to McKinsey’s resources and career-coaching services, but staffers would still have to leave McKinsey even if their job hunt proved unsuccessful.
The offer has been extended to managers working at McKinsey’s U.S. offices, though the pay duration could be different, reported Business Insider.
Last year, the company announced plans to cut 1,400 jobs amid restructurings.
Survey: 76% of Canadian Employers Mandating Partial or Full Return to Office
Seventy-six percent of surveyed Canadian employers are mandating employees return to the office partially or full time, citing productivity, team communication and workplace culture as key drivers for the decision, according to a new study by Cisco Systems Inc. The survey polled 150 Canadian employers and 500 employees.
According to the study’s results, nearly two-thirds (64%) of employees positively support their organization’s decision, citing collaboration (58%), ideation (27%) and fostering connections with colleagues (28%).
More than a third of employers expressed a preference for having employees work mostly in the office (37%) or mainly from home (34%), while 24% preferred a hybrid mix.
Amazon to Cut Hundreds of Jobs in Cloud Computing Unit
As reported by CNBC, Amazon’s cloud computing division will lay off hundreds of employees in its physical stores technology and sales and marketing units.
Amazon’s Web Services (AWS) unit has seen its sales growth decelerate in recent quarters as companies trimmed their cloud spend amid rising interest rates, according to CNBC.
The cuts to AWS’ store technology team come after Amazon said it would remove cashierless checkout systems in its U.S. Fresh stores. The AWS unit includes teams overseeing the cashierless tech, called Just Walk Out, as well as its Dash smart carts and Amazon One palm-based payment technology.
Employees in the U.S. will continue to receive their pay and benefits for at least 60 days, and they will be eligible for a severance package.
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