ADP’s Employment Report for September beatexpectations, showing 568,000 private-sector jobs added last month. The number of people receiving unemployment benefits fellby 55% to 5 million, cut from the 11.3 million who’d been collecting benefits the week prior. Pandemic-era programs that offered income support to the unemployed lapsed on Labor Day, with Congress opting not to extend them again.
@charliebilello: ADP Private Payroll Report: 568k new jobs were added in September vs. 428k estimate. 19.6 million jobs were lost in March-April 2020. 14.1 million jobs have since been added back. Still 5.5 million to go. Good news: there are 10.9 million job openings.
Stock futures tumbled amid investor concern about rising energy prices after oil prices climbed to their highest level in nearly seven years when OPEC and its allies declined to significantly ramp up production. An offshore oil spill in Southern California threatenedsome of the area’s most popular beaches and renewed calls for a drilling ban.
Monday’s six-hour Facebook outage that also took down Instagram and WhatsApp prompted companies that rely on the network to reconsider using these platforms as their primary tool. Many small businesses use Facebook and Instagram to advertise, connect with customers and sell products and services. Facebook – the U.S.’s second-largest online advertiser – issued an apology to the business community and said advertisers were not billed for ads during the outage.
@leticia: Facebook had a 101% spike in 2nd quarter profit led by a big increase in ad purchases and prices. Turns out, small- and medium-sized businesses (the same ones who had most to lose with the outage yesterday) made up a big part of that ad growth
Food trucks, like many other businesses, re-evaluated operation during the pandemic without the reliance of a lunch hour rush fueled by office workers and the weekend bar crowd. Many adapted by selling in residential neighborhoods and embracing food delivery apps. As more restaurants turn to delivery apps, cities are moving toward enactingfee caps and addressing the working conditions for delivery couriers.
The four-day workweek is growing in popularity as studies indicate greater productivity, less burnout and a decreasein carbon emissions. The five-day, 40-hour workweek, which has been a staple in the U.S. since the Fair Labor Standards Act set new standards in 1938, is becoming less relevant as society shifts away from the male breadwinner model that has been around since the start of industrialism.
@GreaterBoston: New England-based outdoor travel tech company The Wanderlust Group decided to cut Mondays from their workweek to help address pandemic burnout. “Productivity increased, happiness increased and our results speak for themselves,” CEO Mike Melillo said.”