Saks Off 5th Raises Minimum Wage

Best Buy is allowing job applicants to submit videos rather than coming in physically for a first round of interviews, saying in a recent statement that the videos “can be recorded and reviewed without the need to go back and forth on scheduling.”

The scramble by retailers comes as the American economy is gaining strength, adding 531,000 jobs in October, a sharp rebound from the previous month. But even as unemployment dropped to 4.6 percent from 4.8 percent, the labor participation rate — which measures the share of the working-age population employed or looking for a job — was flat last month, at 61.6 percent. That signals that the pool of available workers remains tight.

“We’re coming out of a crisis we have no experience in dealing with, in which millions of people were furloughed or laid off or removed from the work force, and to think they’ll all show up on certain date to come back to work is kind of silly,” Mr. Cohen said. “Some people are still fearful about coming back to work, especially in a job in which they would be exposed to large numbers of the public.”

While fear of the Delta variant may be keeping some workers away, the retail industry had been loath to impose vaccine mandates for fear that store workers might leave and that it might become even harder to find seasonal employees. A new vaccinate-or-test requirement for companies with 100 or more employees announced by the Biden administration on Thursday essentially forced their hands, though it is not scheduled to take effect until Jan. 4 and was temporarily blocked on Saturday by a federal appeals court in Louisiana. (The mandate does instruct employers to require unvaccinated workers to wear masks by Dec. 5.)

The National Retail Federation was critical of the mandate, saying it imposes “burdensome new requirements on retailers during the crucial holiday shopping season.”

Source : https://www.nytimes.com/2021/11/08/business/retail-hiring-holidays-workers.html

340
Cross River Bolsters Its Commitment to Expanding Financial Services and Economic Inclusion to Underserved Communities

Source:Yahoo Finance

Cross River Bolsters Its Commitment to Expanding Financial Services and Economic Inclusion to Underserved Communities