Latest news with #GreatResignation
Qatar Tribune
3 days ago
- Business
- Qatar Tribune
US household well-being stable, but disparities remain
Agencies U.S. households reported little change in their economic well-being last year, with the cost of living remaining a top concern but nearly three-quarters of adults saying they were 'doing OK or living comfortably,' the Federal Reserve reported in an annual survey of people's attitudes about the economy. The poll of 12,295 respondents was fielded in October, capturing the economic mood in the closing weeks of a presidential campaign that returned Republican Donald Trump to the White poll found 73% of respondents at least doing OK economically versus 72% in the year before and below the recent high of 78% in 2021, when federal pandemic income support programs were running full steam. That overall finding, though, masked significant divisions among varying demographic groups. Among those with a college degree, 87% said they were doing OK, unchanged from the year before, but just 47% of those with less than a high school diploma said the same. In contrast to views about their personal circumstances, however, only 29% considered the economy as a whole to be 'good' or 'excellent,' higher than the 22% reading in 2023 but well below the 50% who held that view in 2019, before the pandemic. Though inflation had moderated by late last year, prices remained a top concern with 60% of adults saying rising prices from one year to the next had worsened their finances and 79% changing their shopping and spending habits as a result. In 2023, 65% of those surveyed had felt inflation was making their financial life worse. One closely followed topline question about cash available for emergency spending showed no change, with 63% of adults saying they would cover an unexpected $400 expense 'using cash or its equivalent,' the same as in the past two years but down from 68% in 2021. The survey also showed the fading effects of the 'Great Resignation' in the job market, a pandemic-triggered reshuffling of the workforce. The share of people who reported starting a new job or quitting an old one fell slightly to 14% and 9%, respectively, compared to recent peaks of 15% and 11% in those workers who changed jobs, the share who felt it was better than their old one fell to 62% from 67% in 2023 and 72% in 2022. The survey also found relatively low usage of cryptocurrencies, with just 8% reporting having either invested in them or used them for making transactions, up one point from 2023 but down from 12% in 2021 when the Fed first asked the question.
Reuters
3 days ago
- Business
- Reuters
Most US households say finances all right even as inflation still bites, Fed survey shows
WASHINGTON, May 28 (Reuters) - U.S. households reported little change in their economic well-being last year, with the cost of living remaining a top concern but nearly three-quarters of adults saying they were "doing OK or living comfortably," the Federal Reserve reported in an annual survey of people's attitudes about the economy. The poll of 12,295 respondents was fielded in October, capturing the economic mood in the closing weeks of a presidential campaign that returned Republican Donald Trump to the White House. The poll found 73% of respondents at least doing OK economically versus 72% in the year before and below the recent high of 78% in 2021, when federal pandemic income support programs were running full steam. That overall finding, though, masked significant divisions among varying demographic groups. Among those with a college degree, 87% said they were doing OK, unchanged from the year before, but just 47% of those with less than a high school diploma said the same. In contrast to views about their personal circumstances, however, only 29% considered the economy as a whole to be "good" or "excellent," higher than the 22% reading in 2023 but well below the 50% who held that view in 2019, before the pandemic. Though inflation had moderated by late last year, prices remained a top concern with 60% of adults saying rising prices from one year to the next had worsened their finances and 79% changing their shopping and spending habits as a result. In 2023, 65% of those surveyed had felt inflation was making their financial life worse. One closely followed topline question about cash available for emergency spending showed no change, with 63% of adults saying they would cover an unexpected $400 expense "using cash or its equivalent," the same as in the past two years but down from 68% in 2021. The survey also showed the fading effects of the "Great Resignation" in the job market, a pandemic-triggered reshuffling of the workforce. The share of people who reported starting a new job or quitting an old one fell slightly to 14% and 9%, respectively, compared to recent peaks of 15% and 11% in 2022. Among those workers who changed jobs, the share who felt it was better than their old one fell to 62% from 67% in 2023 and 72% in 2022. The survey also found relatively low usage of cryptocurrencies, with just 8% reporting having either invested in them or used them for making transactions, up one point from 2023 but down from 12% in 2021 when the Fed first asked the question.
Yahoo
3 days ago
- Business
- Yahoo
Most US households say finances all right even as inflation still bites, Fed survey shows
By Howard Schneider WASHINGTON (Reuters) -U.S. households reported little change in their economic well-being last year, with the cost of living remaining a top concern but nearly three-quarters of adults saying they were "doing OK or living comfortably," the Federal Reserve reported in an annual survey of people's attitudes about the economy. The poll of 12,295 respondents was fielded in October, capturing the economic mood in the closing weeks of a presidential campaign that returned Republican Donald Trump to the White House. The poll found 73% of respondents at least doing OK economically versus 72% in the year before and below the recent high of 78% in 2021, when federal pandemic income support programs were running full steam. That overall finding, though, masked significant divisions among varying demographic groups. Among those with a college degree, 87% said they were doing OK, unchanged from the year before, but just 47% of those with less than a high school diploma said the same. In contrast to views about their personal circumstances, however, only 29% considered the economy as a whole to be "good" or "excellent," higher than the 22% reading in 2023 but well below the 50% who held that view in 2019, before the pandemic. Though inflation had moderated by late last year, prices remained a top concern with 60% of adults saying rising prices from one year to the next had worsened their finances and 79% changing their shopping and spending habits as a result. In 2023, 65% of those surveyed had felt inflation was making their financial life worse. One closely followed topline question about cash available for emergency spending showed no change, with 63% of adults saying they would cover an unexpected $400 expense "using cash or its equivalent," the same as in the past two years but down from 68% in 2021. The survey also showed the fading effects of the "Great Resignation" in the job market, a pandemic-triggered reshuffling of the workforce. The share of people who reported starting a new job or quitting an old one fell slightly to 14% and 9%, respectively, compared to recent peaks of 15% and 11% in 2022. Among those workers who changed jobs, the share who felt it was better than their old one fell to 62% from 67% in 2023 and 72% in 2022. The survey also found relatively low usage of cryptocurrencies, with just 8% reporting having either invested in them or used them for making transactions, up one point from 2023 but down from 12% in 2021 when the Fed first asked the question. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
20-05-2025
- Business
- Business Insider
People are working harder and longer. Here's how to avoid burning out.
In an era of quiet quitting, the Great Resignation, and lazy girl jobs, the assumption is that workers are slacking. These trends are actually all symptoms of a workforce that is toiling harder and longer and doing more with less, according to Amanda Jones. The senior lecturer in organizational behaviour and HR management at King's Business School at King's College London specializes in remote working and work-life balance. Jones told Business Insider that "work intensification has been happening for decades. She remembers hearing about it and becoming interested in the concept while she was at school. When Jones was doing her doctorate, a professor at Cardiff University called Alan Felsted, agreed to be her examiner. He has studied work intensification extensively. "One of the things that always fascinates me about this is that it's never gone down," Jones said, pointing to Felsted's research. "We are working harder progressively over time." The end result isn't increased productivity, it's burnout and detachment. Jones said that quitting as a concept in response to feeling overwhelmed by one's workload is "quite victim-blaming; it could be just that they can't take it anymore." 'Race to the bottom' The negative impacts of work intensification include burnout and stress, which can lead to people taking long-term sick leave and putting a strain on the economy. "You've got people who are economically inactive, so they're not paying taxes, they're possibly receiving benefits instead," Jones said. "It's going to not only cost more, but if we're doing this to people in the skilled section of the workforce, it's also not going to help us with our skills gaps, so productivity will reduce," she added. "It does feel a bit like a race to the bottom." Some companies are implementing a four-day workweek, which is a step in the right direction, in Jones' view. All organizations should be aware that "what's happening isn't going to benefit them in the long run," she said. "I think probably there's a policy intervention that's necessary." Increasingly intense digital world Researchers have linked work intensification to the pandemic. The stereotype is that people who work remotely are less productive, stepping away from their computers to do household chores or run errands. This has factored into the decisions of several prominent companies requiring their staff to return to the office — sometimes up to five days a week. This is another misconception, though, Jones said, because people who work from home can actually attend more meetings than before. "It provides you with more opportunity to participate in work," she said. "If you can't go to a meeting, in the old days, you couldn't go to a meeting, you couldn't physically get there. Now, we can go to everything." Setting boundaries Having work at our fingertips — emails and messaging apps on our phones — has caused our professional lives to bleed into our personal ones more than ever. "People go on holiday and they do all this extra work," Jones said. "It doesn't feel difficult — you've got your phone in your hand and you're able to let go." Jones said she's taken note of this and now deletes her email and her LinkedIn apps when she goes on vacation. "There's this whole requirement to build your brand and to constantly be employable and always be looking for work, which adds to the intensification. It's this 'I must always be marketable' culture, which, for younger people, I worry they're going to be burned out before they're 30 at this rate." Jones also recommends setting boundaries to avoid getting sucked into the work intensification cycle, even if it's difficult to do so. "If you are in a context where your organization is not supporting that so much, often people don't feel that they have any choice other than to exit or try to retrain or do something else," she said. Ultimately, people need to be aware of what is and is not acceptable and healthy for them. "Some people do just have a propensity toward overwork, and we do have a duty of care to make sure that we are not overburdening those kind of people," Jones said. "But then again, they're exactly the kind of people who tend to get things done. So I think there's that element of having to have self-awareness and knowing how to look after yourself."
India Today
16-05-2025
- Business
- India Today
Bengaluru techie scales from Rs 2.4 LPA to Rs 1 crore net worth before 30. Here's how
A Reddit user from Bengaluru shared his story of rising from humble beginnings to achieving a Rs 1 crore net worth - without shortcuts, inheritance, or overnight success – before turning 30.'Milestone Check: Started at 2.4 LPA at 23, Achieved 1 crore Before Turning 30,' read the caption of the Reddit post that has gone viral on social media.'This isn't a boast. It's my story - a reminder that no matter where you start, with patience and persistence, things can change,' the user To begin with, the user wrote about his early life, explaining that he grew up in a low-income household where his father earned around Rs 8,000 a month and money was always scarce. Despite the odds, he managed to get into a decent private school and later joined an engineering college.'College fees were hard to afford, loans were rejected, but relatives stepped in and helped. We made it through,' he third year, he realised that he enjoyed programming more than anything else: 'Electronics slowly took a backseat, and I dove into writing code.'A placement at a service-based company marked the start of his professional journey in 2018 with a salary of Rs 2.4 LPA, roughly Rs 15,000 a month.'I was terrified. How do you survive in a city like Bangalore with that kind of salary? Turns out, a 3-sharing PG with friends and a talent for stretching Rs 500 like it's Rs 5,000 can go a long way. We even had fun. Tons of it,' he first big break came in early 2020, when he cleared interviews at a Big 4 company for a Rs 6-8 LPA role. But the pandemic had other plans. The offer disappeared as lockdowns began, and the company never responded again. But, he refused to give April 2021, he received a Rs 12 LPA job offer from a healthcare startup. It came with a tight condition: he had to reduce his notice period to 60 days. As luck would have it, since he was between projects at his current job, his manager let him go in 15 days.'Joined the healthcare startup in April 2021. The work was great. Team was solid. For a while, everything was smooth,' he working at the startup for over a year, he noticed colleagues quitting in waves during the 'Great Resignation.' Inspired, he started applying again and ended up receiving 13 job offers. He chose a Rs 32 LPA offer from a product-based company, where his compensation, owing to stock grants, has now reached Rs 45 - 50 Reddit user admitted that he started out clueless on the financial front. Until 2020, he stored his savings in his salary account or fixed deposits. His first major investment was a monthly payout FD of Rs 3.5 lakh, which he initially thought was a smart retirement I found YouTube finance. Watched a lot of Pranjal Kamra. Got introduced to SIPs, mutual funds, compounding - basically the whole adulting starter pack,' he he invests Rs 71,000 per month, manages a take-home salary of Rs 1.6 lakh, and still finds time (and money) for Zomato orders and travel. He's also taken health insurance for himself and his parents, and holds term insurance to secure his his financial growth, he lives simply. His phone is from 2019, his wardrobe mostly consists of free company t-shirts, and his footwear? Rs 250 shoes with Rs 1,000 soles. For him, comfort beats status.'For now, this works. I've never felt the urge to chase luxury. Hopefully, by 35-40, I'll hit a level of Financial Independence (FI) that allows me to choose peace over paychecks,' he said. advertisementFurthermore, he said that in the next one or two years, he planned to make one final career move, expressing his hope to stop working by the age of 45 - or even earlier, if possible: 'By then, I believe my investments and savings should be enough to cover my expenses. After that, I'd like to focus on other things - health, travel, hobbies, maybe even helping others who are where I once was.'The Reddit user, in conclusion, said: 'If you're starting out and feel lost, trust me - you don't need to have it all figured out. Just keep moving. Be frugal where it matters, splurge where it counts, and never underestimate the power of compounding - financial and career-wise.'Must Watch
