- Report: U.S. Hiring Was Less than Anticipated in February
- Meta Executives See Up to 200% Bonuses in New Plan
- Apple Shareholders Reject Anti-DEI Proposal
- California Governor Orders State Workers Back to the Office
- ‘Right to Switch Off’ May Be Dead for UK Employees
Report: U.S. Hiring Was Less than Anticipated in February
The U.S. labor market was softer than anticipated in February, as employer and worker activity generally reflected federal policy uncertainty and economic concerns.
American employers added 151,000 jobs to nonfarm payrolls during the month, according to a data report published Friday, March 7, by the U.S. Department of Labor’s Bureau of Labor Statistics. That figure was less than the 160,000 net new jobs economists had estimated. February’s gains were, however, higher than the revised 125,000 increase recorded in January.
Both the unemployment rate, at 4.1%, and the number of unemployed people, at 7.1 million, changed little in February. The unemployment rate has remained in a narrow range of 4.0% to 4.2% since May 2024. Among the major worker groups, the unemployment rate for Whites (3.8%) increased in February, while the rates for adult men (3.8%), adult women (3.8%), teenagers (12.9%), Blacks (6.0%), Asians (3.2%) and Hispanics (5.2%) showed little change.
Looking at February employment by industry:
- Healthcare added 52,000 jobs, in line with the average monthly gain of 54,000 over the prior 12 months. Job growth continued in ambulatory healthcare services (+26,000), hospitals (+15,000), and nursing and residential care facilities (+12,000).
- Employment in financial activities rose by 21,000, above the prior 12-month average gain (+5,000). Over the month, employment continued to trend up in real estate and rental and leasing (+10,000) as well as insurance carriers and related activities (+5,000). Commercial banking lost 5,000 jobs.
- Transportation and warehousing employment continued to trend up (+18,000), in line with the average monthly gain over the prior 12 months (+13,000). Over the month, job growth occurred in couriers and messengers (+24,000) and air transportation (+4,000).
- Employment in social assistance was higher (+11,000), but below the average monthly gain over the prior 12 months (+21,000). Over the month, employment continued to trend up in individual and family services (+10,000).
- Within government, federal government employment declined by 10,000.
- Employment in retail trade changed little (-6,000) and has been stagnant over the year. In February, employment in food and beverage retailers declined by 15,000, largely due to strike activity. Warehouse clubs, supercenters and other general merchandise retailers added 10,000 jobs.
- Employment showed little change over the month in other major industries, including mining, quarrying, and oil and gas extraction; construction; manufacturing; wholesale trade; information; professional and business services; leisure and hospitality; and other services.
Examining wages and hours for February:
- Average hourly earnings for all employees on private nonfarm payrolls rose by 10 cents, or 0.3%, to $35.93. Over the past 12 months, average hourly earnings have increased by 4.0%. Last month, average hourly earnings of private-sector production and nonsupervisory employees rose by 9 cents, or 0.3%, to $30.89.
- The average workweek for all employees on private nonfarm payrolls was unchanged at 34.1 hours. In manufacturing, the average workweek remained at 40.1 hours, and overtime edged up by 0.1 hour to 2.9 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls was unchanged at 33.6 hours.
Meta Executives See Up to 200% Bonuses in New Plan
Meta executive officers could earn a bonus of 200% of their base salary, up from the 75% they earned previously, under a new plan that was approved by one of the company’s board of director committees on Feb. 13.
According to a CNBC report, the Meta board committee approved the change after determining the “target total cash compensation” for its executives “was at or below the 15th percentile of the target total cash compensation of executives holding similar positions” at peer companies like Amazon and Apple. The updated bonus plan does not apply to Meta CEO Mark Zuckerberg.
The Securities and Exchange Commission filing stated the bonus plan “provides variable cash incentives” that “motivate its executive officers to focus on company priorities” and “reward them for company results and achievements.”
Apple Shareholders Reject Anti-DEI Proposal
As more large organizations announce an end to their diversity, equity and inclusion (DEI) programs due to President Donald Trump’s executive orders to remove such policies, some employers are refusing to comply.
As reported by the Associated Press, Apple shareholders rejected on Feb. 26 an anti-DEI proposal drafted by the National Center for Public Policy Research, a conservative think tank that urged the tech giant to follow other organizations who already retreated from DEI initiatives. The group also offered a similar proposal at Costco’s annual meeting in January that shareholders also rejected. At Apple’s meeting, 97% of the outstanding shares that cast ballots voted against the measure.
“We will continue to create a culture of belonging,” Apple CEO Tim Cook told shareholders during the meeting.
But Cook acknowledged Apple may have to make some adjustments to its diversity program “as the legal landscape changes” while still striving to maintain its culture.
California Governor Orders State Workers Back to the Office
California state agencies and departments have until July 1 to update their hybrid work policies to require all employees back to the office at least four days a week, according to a new executive order signed March 3 by Gov. Gavin Newsom.
Currently, California’s 224,000 workers are required to come to the office at least two days a week. The order will allow for case-by-case telework exceptions.
A press release from the governor’s office stated: “With federal workforce reductions, California is strategically recruiting experienced professionals to fill key job openings in firefighting, extreme weather forecasting, climate resilience and water management roles — ensuring the state remains prepared for natural disasters and environmental challenges — in addition to other critical fields such as medical and mental health care.”
The announcement also noted that by bringing employees back to the office four days a week, the state will:
- Improve collaboration and communication, leading to faster, more effective decision-making.
- Enhance mentorship and knowledge-sharing, particularly for newer employees.
- Strengthen oversight and accountability, ensuring public resources are managed effectively.
- Deliver better services to Californians, with increased responsiveness and coordination.
‘Right to Switch Off’ May Be Dead for UK Employees
A policy that would allow employees in the United Kingdom (UK) to “switch off” outside of their work hours is expected to get dropped, according to British newspaper The Independent.
The publication reported that the policy would allow workers to ignore work-related emails and calls before or after their stated office hours, including the right to refuse to take on extra work during the weekend. The policy does not appear in an Employment Rights Bill, which is currently making its way through Parliament.
UK ministers made the change in a bid to boost business confidence, a government source told the Sunday Times newspaper.
“Growth that puts money in people’s pockets is the number one priority of this government’s plan for change,” the source told the newspaper. “That means making Britain the best country in the world to do business, and a key part of that is removing unnecessary barriers.”
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