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Yahoo
8 hours ago
- Business
- Yahoo
Teens face hiring chill as they hunt for summer jobs
The U.S. hiring cooldown is casting a chill over a teen summer job market that has sizzled the past few years. Fewer teenagers are looking for jobs. And a smaller share of those looking are getting hired. The development appears to reflect the demise of a post-pandemic hiring frenzy that provided teen summer job hunters the most favorable landscape in more than 50 years, along with benefits experts say can bolster their entire careers. 'If you look at youth unemployment before the pandemic, that's pretty much where we're headed,' said Alicia Sasser Modestino, a labor economist at Northeastern University who studies teenage employment. Teens are projected to gain 1 million jobs in May, June and July, the lowest tally since 2010, according to estimates by outplacement firm Challenger, Gray & Christmas. Among other factors, experts point to a generally slowing U.S. labor market, economic uncertainty spawned by President Donald Trump's tariffs and automation that's wiping out the kind of entry level jobs typically snared by young people. The Labor Department on Thursday is expected to report a tepid 113,000 job gains for June, down from 139,000 the previous month. Small businesses are still bringing on a healthy share of teenagers for summer jobs, according to Gusto, a payroll processor for small firms. Nineteen percent of their clients' new hires in May were 15- to 19 years olds, similar to the 18.3% in 2023 and 19.1% in May 2024. But total employment for that age group was up 11.8% from a year earlier, compared to a 14.3% annual rise in May 2024. 'The companies that rely on teens are still hiring teens,' said Gusto Senior Economist Nich Tremper. 'However, a declining hiring rate has effects throughout the economy.' Labor Department data reveals a more dramatic drop-off in teen hiring. The share of 16- to 19-year-olds working or looking for jobs fell to 35.4% in May from 37.4% a year earlier - the lowest May level since the depths of the pandemic in 2020, according to Bureau of Labor Statistics' non-seasonally adjusted figures. Marquise Shiemvs, manager of Chip City, a cookie shop in Arlington, Virginia, said most of of the shop's seven employees are high school students, but finding them has gotten tougher. Unlike in prior years, "They're really not coming in and putting in applications," Shiemvs said. Instead, the shop has recruited one or two teen customers to join the staff. Youths who are searching for work are struggling. The teen unemployment rate rose to 13.1% last month from 12.1% a year earlier, the highest May mark since 2020. Unemployment overall was at a historically low 4.2%. About 5.5 million teens were employed last month, the lowest May tally since 2022. For decades, a summer job served as a rite of passage, with 55% of teenagers working or job hunting in May 1979. The share tumbled to 32% to 34% through the 2010s as many teens instead got involved in school activities and volunteer work to bolster their resumes for college or took gig jobs not tracked by Labor, according to Modestino and the Society for Human Resource Management. COVID-19 changed everything. As the economy reopened in 2021, restaurants, hotels, shops and amusement parks frustrated by pandemic-related labor shortages turned to young people to fill an abundance of openings and meet a surge of pent-up consumer demand. High school and college students stuck at home during COVID-19 lockdowns itched to get out and fill many of the vacancies. They were also drawn by soaring pay as businesses scrambled to attract scarce job candidates, especially for in-person roles. Median annual wage growth for 16- to 24-year-olds climbed from about 8% in the summer of 2020 to 13% in summer 2022, according to 12-month averages figured by the Federal Reserve Bank of Atlanta. In May 2021, the teen unemployment rate fell to 9.5%, lowest since 1953, and hovered near a historically low 10% the following two summers. By May 2024, the share of teens working or looking for jobs hit 37.4%, highest since 2009. For teens, a summer job teaches soft skills such as 'how to work, in addition to how to do a job,' Tremper said. 'Just showing up on time and navigating dealings with colleagues.' Added Modestino, "These short-term gains over the summer are linked to long-term reductions in criminal justice involvement, improvements in high school graduation rates and increased employment and wages up to four years later." But several factors are coalescing to suppress teen hiring. Last year, businesses pulled back on hiring broadly as a post COVID-19 spike in demand faded but labor costs and interest rates stayed high. The drop-off has intensified this year as Trump's tariffs have spawned business uncertainty about a potential leap in costs in coming months. Average monthly job growth has tumbled from 168,000 in 2024 to 124,000 this year. Consumer sentiment, meanwhile, generally has plunged despite a partial rebound in June as Americans worry about a tariff-related resurgence of inflation. U.S. household spending is weakening, especially for discretionary services such as travel and hospitality, Oxford Economics said in a research note last week, adding that many foreign visitors are also shunning the U.S. because of the import fees. Such sectors typically employ lots of teens in the summer. In May, consumer spending fell 0.3% after adjusting for inflation, with declines of 1.1% for airfares and 0.6% for recreation services, and a meager 0.1% rise for hotel stays, according to Commerce Department figures released last week. 'The leading edge of the cooling labor market is teens,' Modestino said, noting they have less work experience than other age groups. 'Teens are the last to be hired and the first to be fired.' Before the health crisis, the summer unemployment rate for teens hovered at about 13%, compared to 3.6% for all workers. With hiring slowing broadly, teens are vying for summer jobs with recent college graduates as well as older adults, Tremper and Modestino said. Although companies are still hesitant to lay off workers because of the pandemic's labor shortages, those who are cut or just entering the labor force are taking longer to find positions. Through the first four months of the year, the number of 20- to 24-year-olds who are long-term unemployed (jobless at least six months) is up 32% compared to the same period in 2019, Labor figures show. Retailers are deploying more self-serve checkout registers and other technologies, providing fewer opportunities for teens, Modestino said. Artificial intelligence, she said, isn't yet taking a significant toll but could in coming years, she said. Immigration is declining amid the Trump administration's massive deportations of migrants who lack permanent legal status. Under looser Biden administration policies, net immigration to the U.S. surged to 2.6 million in 2022 (the 12 months ending in June 2022), 3.3 million in 2023 and a projected 2.8 million in 2023, according to the Congressional Budget Office. That compares to an annual average of about 900,000 from 2010 to 2019. But by fourth quarter, the total is expected to plummet to an annualized rate of 500,000, according to Oxford Economics. That theoretically should mean less competition for teens for the kind of restaurant, hotel and other hospitality jobs that some immigrants occupy. But Oxford says it takes time for of recent foreign arrivals to find jobs. For now, the labor supply is still being boosted by the immigration surge of the past few years, the research firm said. Some analysts said immigration's impact on the teen summer job market is mixed. Some recent migrants from Latin American countries who otherwise would seek restaurant and hospitality jobs are laying low because of the administration's immigration raids, Modestino said. The labor force participation rate for Hispanic teens was at 32.4% in May, down from 35.7% a year earlier, she noted. But a 2022 study by the Journal of Population Economics found that when arrests of Hispanic migrants increase, labor force participation falls among Hispanic adults but rises sharply among their U.S.-born teen children who try to replace some of their income. 'With the increased rhetoric against immigrants and recent actions of ICE, we may see a surge in teen employment in this population this summer," said Andrew Challenger, senior vice president at Challenger, Gray & Christmas. This article originally appeared on USA TODAY: Teens grapple with cooling job market
CNBC
2 days ago
- Business
- CNBC
LGBTQ+ entrepreneurs starting businesses in record numbers
In the face of the anti-diversity, equity and inclusion environment, LBGTQ+ small business owners have remained resilient — and are actually starting businesses in record numbers. Some 10% of entrepreneurs who started their own businesses last year identified as LGBTQ — a "milestone" and a 50% increase from 2023, according to a recent survey from small business software company Gusto. That brings the LGBTQ entrepreneurship representation in line with the general population, the company said. "For too long, LGBTQ entrepreneurs have faced barriers to capital, visibility, and opportunity," Nich Tremper, Gusto's senior economist, said in an email. "Reaching parity in business creation shows that more LGBTQ people are not only stepping into entrepreneurship, but doing so on their own terms — building companies rooted in care, autonomy, and community." About a third of LGBTQ entrepreneurs said they started a business so they can be a positive influence on their community. For 38-year-old Lissete Briggs, who goes by Liz Whalen, opening up her hair salon Rebel Rebel in Libertyville, Illinois, was a way to give a safe space to her clients. She started her business with former co-worker Ashley Levin in 2020 after working in the industry for several years. The salon they worked for at the time was very conservative, Whalen said. "I have a lot of gender queer, non-binary and trans clients, and they definitely did not feel comfortable there, so it was not a good fit for me," she explained. "We wanted a more inclusive space." Whalen isn't feeling any of the effects of the backlash against DEI and only feels support from her clients and her community, including a local LGBTQ+ center. "They support us. We support them," Whalen said. "It's really a beautiful thing to see everybody kind of come together and support our little business." Jonathan Lovitz, senior vice president of campaigns and communications at the Human Rights Campaign, said that is emblemantic of the community across the board in the face of any anti-DEI efforts or cuts to small business funding. President Donald Trump has signed executive orders targeting DEI programs in both business and the public sector. The administration has also proposed cuts to the Small Business Administration. "LGBT business owners are extraordinarily resilient," Lovitz said. The average American small business goes under around the five-year mark, but those that are certified LBGTQ+ are, on average, 12 years or older, he noted. "They're already good at sticking it out through the tough times," Lovitz added. "The pendulum swings back and forth on government and corporate support, but these companies are thriving because they're great companies." In fact, LBGTQ-owned businesses contribute $1.7 trillion to the United States economy, according to the National LGBT Chamber of Commerce. Danielle Stinger, who owns Dandi Cleaning & Organizing in Atlanta, is one of those businesses. Stinger, who is 37 years old and also considers herself pansexual, started her business in 2022, after doing it as a side hustle for years. "In the political environment that we are in, especially with the last election, ... I have lost clients because of my choice in the LGBT community and good riddance," said Stringer, who is currently in a relationship with a man after an 8-year relationship with a woman. However, she's also found a lot of support. "The great thing about being your own business owner is that you're allowed to choose — you get to choose who you work with and who you don't work with," she said. Gusto's Tremper said that is a benefit that many in the community likely crave. "LGBTQ founders were 30% more likely than non-LGBTQ founders to say that they started their business in order to be their own boss," he said. "This could signal a desire for more autonomy, but for traditionally marginalized groups it's also possible that they're starting a business to avoid discrimination — either overt or more subtle — in the traditional workplace."
NZ Herald
24-06-2025
- NZ Herald
Noosa travel guide: Beaches, dining, and tours in a stunning biosphere
Noosa has been named a Unesco Biosphere Reserve. Photo / Tourism Noosa The Noosa region is a popular destination for leisure and adventure because of its many gems, which include a pristine river system that meanders upstream to one of the world's only two Everglades systems, serene hinterland villages, boutique shopping, world-class events, a thriving arts and culture scene, and more. Where to stay The opulent Netanya Noosa is nestled into one of Australia's most breathtaking beaches, with suites of one, two, or three bedrooms providing views of the stunning Noosa Main Beach and bustling Hastings St. The Noosa Surf Club, which offers stunning views of Double Island Point, is located if you choose the latter and turn left. The Noosa National Park is only a short stroll away if you turn right. The rooms are spacious, light and provide a beautiful view of the beach, which is so close the sound of crashing waves will lull you to sleep. If you don't want to dine out at the fantastic restaurants nearby on Hastings St, a kitchenette makes dining in easy, while the large bathroom boasts a spa bath big enough for two. If the pool that looks out to the beach is too crowded for you, you can easily open the gate and step out on to the beach for an ocean swim. Netanya Noosa is the ideal destination for mindful tourists looking for a romantic break, a long vacation, or a fun weekend. What to eat Bistro C Savour a meal at Bistro C while admiring the scenery of Laguna Bay in Noosa. Each dish was developed by chef Dayle Merlo using the local produce the area offers as inspiration. The award-winning cuisine reflects his team's love of food. The laid-back, light-filled area is ideal for a long lunch, afternoon cocktail, moonlit dinner, or leisurely brunch. Photo / Tourism Noosa Peli's Peli's, which is ideally situated in Tewantin at the waterfront Noosa Marina, offers elegant bistro-style eating with a Mediterranean flair in Noosa. Reflecting Peli's coastal location, the vibrant dining experience features share-style meals with an emphasis on seafood and creative vegetarian options. The cuisine pays tribute to the abundance of fresh fruit and seafood on the Sunshine Coast. The highlights are the smaller dishes, such as the scallops, or the larger ones, like the succulent, fall-of-the-bone lamb shoulder. Locale Noosa Craving a little Italian while in Noosa? Locale Noosa uses a host of fresh local ingredients to bring together unforgettable dishes. The moody atmosphere is no reflection of the bright flavours in must-try dishes such as the fiori di zucca and crudo. Other highlights include the saltimbocca and the array of cocktails made by friendly bartenders. Gusto A classic Noosaville eating experience that has grown to be popular among locals and tourists, Gusto perfectly reflects the laid-back atmosphere of the Noosa River. Together with a thoughtfully chosen wine list, its menu offers contemporary Australian fare with a French flair. Photo / Tourism Noosa What to do Joel's Journeys The easiest way to get the most out of your Noosa trip is to book a tour around the area, and Joel's Journeys is the best of them. Joel's Journeys' knowledgeable guides take you through valleys, peaks and undiscovered gems, such as the Glass House Mountains, the Noosa Hinterland, Rainbow Beach and Mary Valley. The company offers private tours, group bookings and transfers that cover every aspect of Noosa you might want to experience. In Noosa for a short stay? Take the 'Hinterland' tour, which shows off the best of the area's landscape food, drinks and art. First, unwind with a cup of tea or coffee beside the serene Lake Cootharaba, the biggest lake in the Noosa Everglades, before enjoying the local handicrafts, crafts, and fresh produce at Kin Kin, a quaint community tucked away in the countryside after the picturesque drive. After that, have a delicious lunch at a well-known restaurant in Pomona, then spend your spare time exploring Pomona's art gallery or sampling gin at the nearby distillery. After a mead tasting at a historic estate in the afternoon, there's a stunning hidden overlook with expansive views of Noosa Heads and the hinterland. Enjoy a cheese platter and a fine wine tasting at a nearby winery to round off your day. Enjoy a tasting at Seabourne Distillery The beauty and flowing current of Noosa are captured by Seabourne. The team at Seabourne Distillery creates easy-drinking spirits that are savoured in the last rays of the sun by utilising the purest flavours of the land and the sea. While you are in the area, check out the Noosa Chocolate Company for a sweet treat, or Noosa's other fine alcoholic offerings such as the Land and Sea Brewery and Noosa Heads. Seabourne Distillery creates easy-drinking spirits. Photo / Tourism Noosa Take a walk Along with a huge network of forest trails that serve as a natural habitat for some of Australia's most prized plants and animals, Noosa National Park boasts one of the most breathtaking coastal scenic walks. Take a walk in Noosa's National Park, which offers a network of forest trails. Between July and October, it's common to see whales breaching with their calves as you gaze out into the expansive ocean. Beachfront massage The sounds of waves crashing against the shore are renowned for their ability to calm people, so it makes it the perfect backdrop for a relaxing massage, and Massage and Wellbeing offer exactly that on Noosa's Main Beach. While the sea breeze transports you away, get a wonderful massage on the beach while listening to the sound of breaking waves. Select from a variety of massage styles, including deep tissue, relaxation, and remedial, all of which are customised and provided by skilled therapists. I would recommend showing up to the beachfront location with sandy feet, but they also offer to come to your hotel room if you prefer with just a swipe of your thumb by ordering on their website. Take a ride on the wild side Looking for a thrilling way to experience Noosa? Try the excitement of jetskiing with Noosa Watersports. As you travel across the breathtaking Laguna Bay and the striking Noosa Headland, the friendly staff are available to help you at every turn. Jetski rental in Noosa may add something fresh, enjoyable and thrilling to your holiday or visit, regardless of your level of experience. Renting a jetski in Noosa may add something fresh, enjoyable and thrilling to your holiday. Photo / Tourism Noosa Or maybe you want to experience the world-famous Noosa surf firsthand. Go Ride a Wave offers a variety of solutions to fit your interests and satisfy all of your surfing needs. The teachers are committed to making sure your time on the waves is memorable and informative, whether you're searching for group or one-on-one surf lessons. Checklist Noosa, Sunshine Coast GETTING THERE Fly from Auckland to the Sunshine Coast direct with Jetstar. DETAILS Visit
Business Insider
20-06-2025
- Business
- Business Insider
In a rocky job market, power has shifted back to employers. Hiring is down, promotions are scarce, and RTO is in.
Companies are back in control, at least for now. Workers, in general, have lost their power after being spoiled during the Great Resignation. Career growth opportunities, flexible work-from-home benefits, and wage growth have cooled. It's getting harder to negotiate a new job and move up the career ladder at your current gig. Exclusive data from Gusto, a payroll and benefits platform for small and medium-sized businesses, showed that the rate of workers receiving a promotion, meaning a title bump and a raise of at least 5%, peaked at 14.5% around mid-2022 and has now fallen to just over 10%. Economic uncertainty is likely a reason. Aaron Terrazas, an economist with Gusto, said companies are pausing big decisions, and more employees are staying put. "It's clear that during that period of intense competition for talent, companies were using promotions as another incentive to retain their employees, prevent them from looking elsewhere," Terrazas said. Compensation and job mobility have worsened Don't expect high wage growth in the near future. Indeed data shows the year-over-year change in pay advertised in US job postings on the platform has cooled from the Great Resignation high of 9.5% in November 2021 to 3% this past April. What it boils down to: It's gotten harder to find a new job, so people are willing to work for less. A survey from the Federal Reserve Bank of New York showed the average lowest wage people said they would accept for a new job dropped from about $82,000 this past November to $74,000 in March. And once at a job, they're not advancing as quickly as in recent years. Gusto data showed promotion rates at small to midsize businesses declined across the board from May 2022 to this past May. Technology took the biggest hit, sliding from 17.4% to 10%. Terrazas said companies could be stepping back from their "aggressive talent retention strategies" they had a few years ago. "There's less of an urgent need for companies to lure their employees to stay in positions through promotions," Terrazas said. There's less bargaining power, especially in white collar and retail Cory Stahle, an economist at the Indeed Hiring Lab, said people looking for white-collar roles, especially in software development, have less bargaining power than in healthcare, where workers are more in demand. He added that the power has shifted to employers in retail, where Indeed data shows postings have cooled to below pre-pandemic demand. Tariff uncertainty could be a reason. Though many of President Donald Trump's plans have been paused or walked back, Stahle said "the damage" could have already been done. "With the on again, off again tariffs and a lot of the other uncertainty in the economy, businesses are a little more hesitant because they're saying, 'We're not sure what spending is going to look like going forward,'" Stahle said. People hoping to get a work-from-home gig will have a harder time finding one than in the past few years, when more companies allowed this during the pandemic. Indeed data shows the share of job postings mentioning hybrid or remote has cooled down to 7.5% at the end of May from 10% in 2022. While some companies are requiring people to work a few days a week in person, Amazon and JPMorgan are among the companies that have called on workers to be in the office every day. All hope isn't lost for workers hoping to negotiate for more. Because of how business cycles work, Stahle thinks bargaining power will shift back to workers eventually — and then employers will have the upper hand again someday, too. "It really is this tug of war, back and forth, that is driven by broader economic forces rather than some moral force," Stahle said. Stahle doesn't think people have to wait. He said if you have the skills an employer needs, you can try to negotiate what you want. "If you have an opportunity to negotiate, you should always be trying to negotiate, " Stahle said. "Always be trying to make sure that you are getting upfront the pay and the compensation and the benefits that match your skills and your experience." Have you struggled to land a promotion or find a new job in the current economy? Reach out to this reporter at .
Daily Mirror
18-06-2025
- Sport
- Daily Mirror
Malo Gusto faces up to 'most difficult part of football' after Chelsea nightmare
Chelsea star Malo Gusto had a night to forget in the UEFA Conference League final but the right-back has spoken about his efforts to rebound from the huge setback Malo Gusto says he will come back stronger after his European nightmare. The Chelsea defender was hooked at half time in the Conference League final against Real Betis after enduring a awful 45 minutes in Wroclaw. Betis were leading at the break after Gusto's mistake but Chelsea substituted him and came back to win 4-1 and clinch a European trophy on top of qualifying for the Champions League. It was a bittersweet night for the France international but he says it can also be a good learning curve. The 22-year-old said: 'The first half was complicated. I had good ideas but the reality was not good. That can happen. I just tried to switch off straight after the game before I went to the national team. 'Mentality is the most difficult part of football. Sometimes you have bad moments and it can be hard to do better straight after. The most important thing is to switch off. 'But in football we have many games and there's a chance after the bad game that you get another three days after so you have to try to avoid the bad moments, the bad feelings in your mind and just focus on after.' Gusto, talking ahead of Chelsea's Club World Cup showdown with Flamengo on Friday, now wants to enjoy another big step in his career by playing in the Champions League. He added: 'Those were our objectives, to get top four, to be in the Champions League for the next season, to win the Conference League and we've done that. 'Now the most important thing is to play well in the Champions League, to show to people we deserve to be here. To come into Stamford Bridge and hear the Champions League music. It will be my first time to play this competition so I'm excited, proud. 'It's a big challenge but I think it's similar to the Premier League because every game is tough, maybe even more so in the Champions League but we are ready. We have many top players in the squad and now we just have to be ready for next season.' Chelsea take on Flamengo looking to continue their perfect start to the Club World Cup. They won their opening group game 2-0 against Los Angeles FC, with Flamengo winning their own opener by the same margin against Esperance. Join our new WhatsApp community and receive your daily dose of Mirror Football content. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. If you're curious, you can read our Privacy Notice.
