Unemployment Claims Hit 258,000: Highest Spike in Over a Year

59%

A recent CWI Labs report reveals that 59% of job seekers aged 50 and older feel ageism has hindered their hiring prospects. Additionally, 46% have been searching for a job for over a year, and only 21% remain optimistic about securing a job soon. Despite these challenges, 92% of older workers are eager to learn new skills, particularly in the digital realm, highlighting the need for an age-inclusive workforce.

70%

U.S. manufacturers face recruitment and retention challenges in late 2024 despite revenue and productivity growth. While 76% report increased revenue and 58% report headcount growth, 61% struggle to fill labor gaps. A survey found that 70% of HR leaders cite labor shortages affecting production, and 73% of manufacturers find it difficult to offer the workplace flexibility that front-line employees desire.

$15,138.03

A Wrike report reveals that organizations lose an average of $15,138.03 per employee annually due to unnecessary tasks, with workers spending 30% of their week on low-impact activities. The biggest time-waster is finding information across multiple systems. Despite increased workloads, only 54% of knowledge workers' tasks are considered high-impact, highlighting inefficiencies that AI tools have yet to address fully.

17,000

Boeing is set to cut 17,000 jobs, about 10% of its workforce, to align with financial challenges amid an ongoing workers' strike. The layoffs, which include executives and employees, come after failed negotiations with striking workers and are intended to restart production and fulfill client obligations. Boeing has also delayed its 777X planes to 2026 and will cease production of the 767 cargo jet, signaling a tough road ahead for the company.

258,000

Unemployment claims surged last week to 258,000, the highest in over a year, according to the Labor Department. This marks a significant increase of 33,000 from the previous week's 225,000 claims. The four-week moving average for jobless benefits also rose to 231,000, reflecting growing concerns over workforce stability.