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Tech Sector Drives Record Layoffs in 2023

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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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Despite Continued Layoff News, Latest Data Shows Resilient U.S. Job Market

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Job gains were recorded in professional and business services, health care, retail trade, and social assistance, according to the BLS report. As reported by BLS, “Payroll employment increased by an average of 255,000 per month in 2023.” BLS’ figures on wages coincide with ADP’s findings released earlier this week. ADP reported 5.2%

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Job Seekers Losing Leverage, Pay, Flexibility As Job Market Flips

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According to an analysis of the data published by Yahoo!finance It’s reported that many employers lack formal pay structures and 40% actively discourage salary discussions among employees. This marks a departure from the previous year when increases in base pay were at the highest level in two decades, averaging a 4.8%

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AI Boom Fuels Office Leasing Surge In Tech Hubs

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According to a CBRE study featured by Yahoo Finance , the tech industry has reclaimed its position as the leading industry for office leasing growth in 2023, accounting for 16.5% Yahoo Finance Reports that the share of leased office spaces by the tech industry remains below its pre-pandemic peak of 22% in 2019.

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Family-Centric Policies in the U.K. are Set to Benefit Working Parents in 2024

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As reported by Yahoo Finance , the legislation extends redundancy protections to those on maternity, paternity, adoption, and shared parental leave. The Act is a major game-changer for parents actively participating in the U.K.’s s workforce.

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WeWork’s U.K. Demand Rises 33% Amid U.S. Bankruptcy

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Ben Samuels, WeWork’s Chief Revenue Officer, reported that on-demand bookings in London increased by 33% year-over-year in November. Additionally, all-access bookings across WeWork’s 36 London locations saw a 25% rise during the same period, marking a record month for the company in the city, according to Yahoo.

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U.K. Moves Toward Flexible Work, Yet Stigmas Remain

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According to an article published by Yahoo Finance , women are more likely than men to be working in part-time roles — citing research published by The House of Commons Library which revealed that 37.8% of women in employment were working part-time.

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