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Gen Z’s Labor Market Triumph: Fastest Recovery in Recent History

Allwork

are “idled” (not enrolled and not employed, which includes the unemployed),” according to EPI’s report. in February 2020) in every month since February 2023.” Notably, the report reveals that unemployment rates for young college graduates (aged 21-24) have recovered over 2.5 in 2001-2005, and 7.5% years vs. 8.5 in 1990-1994.

2001 263
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Tech Sector Drives Record Layoffs in 2023

Allwork

According to a report published by Yahoo Finance , this surge, which was the highest since 2020, was led by high-profile tech layoffs from giants like Meta and Amazon. More specifically, the tech sector is reported to have experienced a 73% increase in job cuts — closely mirroring the record highs of 2001.

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The Impenetrable Tech Industry May Have Met Its Match

Allwork

Layoffs have come to the normally reliable technology industry , and third-quarter reports are expected to highlight how bad the state of the job market has become in recent months. . Although job openings remain vast, the expected recession has led the world’s largest companies to take cost-cutting measures to weather the storm. .

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The Digitialization of Jobs

Small Business Labs

  The report: " presents a detailed analysis of changes in the digital content of 545 occupations covering 90 percent of the U.S. workforce in all industries since 2001.   As the report chart below shows (click to enlarge), the number of high digital jobs has grown from 5% of jobs in 2002 to 23% in 2016.

2002 175
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More Americans Facing a Rent Burden

Small Business Labs

Between 2001 and 2015 median U.S. But as the report chart below shows, even at moderate levels being rent burdened greatly reduces the ability to save and build wealth. Being rent burdened means having less money for other expenses or savings. The main cause of this is rents have been rising much faster than household income.

2001 169
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The State of the VC Industry - Fewer Firms, More Funding

Small Business Labs

TrueBridge Capital Partners recently released a report on the State of the Venture Capital Industry.  Key quote from the report: 200 funds invested in five or more deals in 2014, 4% fewer than in 2013 and 83% fewer than in 2001. A couple of charts jumped out at me. The first is the number of active VC firms.

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Channel Your Inner Cat to Survive in Business

On The Job

The statistics paint a bleak picture: From 2001-2011, only about 10% of companies actually met their growth targets, Bain & Co. Only 13% of Fortune 100 companies were able to sustain as little as 2% annual real revenue growth from one decade to the next over the past 50 years, reports CEB Inc.

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