Initial jobless claims in the US fell by 19,000 to a four-week low of 202,000, indicating continued resilience in the job market. The 202,000 initial claims were well below expectations, and the four-week moving average of jobless claims dropped 7,750 to 213,250. Continuing unemployment claims increased by about 20,000 to 1.87 million.
A report released Thursday by the Pew Research Center finds the share of older adults who are working in the US has doubled in the past 35 years, with workers ages 65 and older making a median hourly wage of $22 last year. "In some ways, this isn't surprising: We're an aging society," said Richard Fry, a senior researcher at Pew Research Center and lead author of the study. "But it isn't just that there are more older adults in the workforce, it's that a larger share of them are working."
Estimates from the World Health Organization place the global economic impact of lost productivity from workplace stress at about $1 trillion, and mental health challenges cost the American economy about $200 billion in lost earnings annually according to National Alliance on Mental Illness data. Workplace mental health breaks and other wellness practices can help employees stay focused, avoid overtaxing themselves and prevent stress, depression and anxiety from putting a dent in their productivity.
When you're part of a team, being the top member isn't about making the most sales or giving the most interviews -- it's about playing a role that helps each person, and thus the team as a whole, succeed, writes author and leadership coach Paul Thornton. Leaders who are used to excelling individually must learn to put the team before themselves and support decisions they may disagree with, among other traits Thornton outlines.
The Post is a private membership network designed to help former collegiate, professional and Olympic athletes connect and use the skills they earned during their careers to succeed in business. The organization aims to encourage athletes to "go be an athlete in business, go be an athlete in relationships, in everything you do outside of sports. Continue to lean into what it means to be an athlete because what it took to be successful in sports, it's the same characteristics and the same requirements with anything else in mind," says Christian Ponder, retired NFL quarterback and co-founder of The Post.
I had brunch last weekend with an old friend from high school. It had been more than 20 years since Marc and I had seen each other. We laughed over omelettes and hashbrowns as we traded stories about old friends, children, marriages and parents. Once the dishes were cleared and we were lingering over our coffees, the conversation turned to career.
“Kanoe, I also wanted to talk today because I am looking for a new job, maybe a new field,” Marc said. He’s a mortgage banker and has been in the industry for years. With the real estate market tanking, though, he’s looking to get out and pivot to a new profession.
Marc isn’t the first of my friends to be facing this situation. Two other friends are also looking to change careers because business in their current fields is dragging. All three of these folks are in their 50s. All three have cultivated reputations for being excellent at their work.
Figuring out what’s next is tough. It’s hard when you’re 18 and unsure of what you are good at or what you want to do.
But when you're 50? I think it's trickier. Even with college degrees and decades of experience, it’s not a simple decision. Plus, the pathways aren’t clear. If you’re looking to get out of your current industry, where do you start? How do you translate your current skillset to a new profession where you have no practical experience? How do you convince an employer to take a chance on you?
Today’s Workplace Chatter story talks about The Post, a private networking organization for former college, professional and Olympic athletes. Its goal is to help members learn how to take the skills they earned from their athletic careers -- focus, discipline, toughness, decision making, risk management -- and use them to be successful in their next professional venture. The organization works across all industries and offers numerous resources for networking and leadership development.
Life transitions are hard. We need guidance to do them right -- if we’re 18 and fresh out of high school or 52, with a mortgage, car payments and college tuitions to pay. Organizations like The Post can put us on the right track.
Have you been in Marc’s position -- a veteran in your field but needing to make a change? How did you do it? Were you happy with your decision? Let me know! We are considering a new column focused on this topic. I’d lo ve to hear your experiences.And if you enjoy this brief, tell others so they can benefit also.
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