Latest news with #jobGrowth
Forbes
7 hours ago
- Business
- Forbes
Stuck In A Dead-End Job? This AI Role Just Grew By 142%
The U.S. has a thriving ecosystem to support the growth and demand of AI specialist jobs Coursera just released its highly anticipated annual Global Skills report Wednesday, which detailed the top in-demand skills for employers and what professionals need to thrive, on a regional and national level. The skills rankings showed where each country lies as far as upskilling is concerned, and the main areas of focus for professionals within these regions. But by far, one of the most exciting reveals from the report is the popularity, demand, and growth of AI-related roles. In Coursera's AI Maturity Index, the United States ranks as fourth, with a thriving, promising ecosystem to support innovation. About '94% of US firms are anticipating significant AI-driven transformations by 2030, especially as GenAI's rapid adoption could necessitate up to 12 million career shifts by the decade's end,' the report notes. One of the roles helping to fuel this wave of innovation, creativity, and AI implementation and integration is that of an AI/ML specialist. (ML means machine learning.) 'In the United States, AI and machine learning specialist roles have expanded by 142% year-over-year, far surpassing global averages,' Coursera adds. Besides high demand, this role pays quite lucratively. The average salary for an AI/ML specialist currently stands at $119,608 based on Glassdoor estimates, and that's not including total compensation either. Total pay including benefits would bring the overall figure to about $159,207 per year. And let's not forget, this figure is an average for the entirety of the U.S. Certain states may pay slightly more, especially if you're moving to states or cities which are known to be tech and startup hubs, like New York or California. The same ML specialist/engineer role has an average pay of $187,563 in the state of California, so where you live does actually matter. But beyond pay attraction and consistently rising demand, here are some other reasons why you might want to consider launching an AI career with this job this year: Landing an AI specialist or engineer role requires you having a strong foundation in areas such as math, statistics, and algebra. If you already enjoy these fields, you'd be perfectly suited to a role in AI. Some of the foundations you'd need include: The future of AI is still evolving, and it's transforming every industry around the world while making such rapid progress that it often feels difficult to catch up. Applying for AI roles at startups enables you to gain multiple transferable skills that you can ... More apply to your own venture Landing a job as an AI/ML specialist or engineer makes you a part of the movement, boosts your career flexibility and job security, and positions you for opportunities to become financially independent and be a top-tier freelance professional.
Reuters
2 days ago
- Business
- Reuters
Rupee back on the ropes after US yields spike post jobs data
MUMBAI, June 9 (Reuters) - The Indian rupee is set to come under renewed stress on Monday after the U.S. economy added slightly more number of jobs than was expected, prompting a rise in U.S. Treasury yields and bringing relief to the dollar. The 1-month non-deliverable forward indicated a open in the 85.74-85.78 range, versus the close of 85.6250 in the previous session. The Indian currency had found respite on Friday after the Reserve Bank of India delivered a larger-than-expected rate cut while the signalling limited room for more reductions. The policy surprise lifted domestic equities and lent support to the rupee. "The opening today is probably just a retracement of Friday's move," a currency trader at a Mumbai-based bank said. "With the U.S. jobs data broadly positive for the dollar, the rupee is simply coming back under pressure." The trader is betting on a 85.60-86.00 range for the week with bias more-or-less neutral. Employers added 139,000 jobs last month, above estimates for an increase of 130,000. Average hourly earnings increased 0.4% in May against a rise of 0.3%. The unemployment rate was unchanged at 4.2%. Federal Reserve rate cut expectations were scaled back post the data, Morgan Stanley said in its daily commentary. The market-implied rate for the December Fed meeting was re-priced 9 basis points higher, implying just 42 bps of rate cuts through 2025, it said, adding that the probability of a rate cut in July fell to 12% from 25%. The 10-year U.S. Treasury yield climbed nearly twelve bps on Friday and the dollar index rose 0.5%. The key U.S. jobs report followed a string of mostly weak data points that had raised concerns about the economic outlook. With that risk now tempered to an extent, attention turns to the pivotal U.S.-China trade talks scheduled to take place in London later in the day. KEY INDICATORS: ** One-month non-deliverable rupee forward at 85.84; onshore one-month forward premium at 8.75 paise ** Dollar index at 98.99 ** Brent crude futures down 0.1% at $66.4 per barrel ** Ten-year U.S. note yield at 4.49% ** As per NSDL data, foreign investors bought a net $5.8 million worth of Indian shares on Jun. 5 ** NSDL data shows foreign investors sold a net $9.3 million worth of Indian bonds on Jun. 5
Yahoo
2 days ago
- Business
- Yahoo
Rupee back on the ropes after US yields spike post jobs data
By Nimesh Vora MUMBAI (Reuters) -The Indian rupee is set to come under renewed stress on Monday after the U.S. economy added slightly more number of jobs than was expected, prompting a rise in U.S. Treasury yields and bringing relief to the dollar. The 1-month non-deliverable forward indicated a open in the 85.74-85.78 range, versus the close of 85.6250 in the previous session. The Indian currency had found respite on Friday after the Reserve Bank of India delivered a larger-than-expected rate cut while the signalling limited room for more reductions. The policy surprise lifted domestic equities and lent support to the rupee. "The opening today is probably just a retracement of Friday's move," a currency trader at a Mumbai-based bank said. "With the U.S. jobs data broadly positive for the dollar, the rupee is simply coming back under pressure." The trader is betting on a 85.60-86.00 range for the week with bias more-or-less neutral. US JOBS SURPRISE Employers added 139,000 jobs last month, above estimates for an increase of 130,000. Average hourly earnings increased 0.4% in May against a rise of 0.3%. The unemployment rate was unchanged at 4.2%. Federal Reserve rate cut expectations were scaled back post the data, Morgan Stanley said in its daily commentary. The market-implied rate for the December Fed meeting was re-priced 9 basis points higher, implying just 42 bps of rate cuts through 2025, it said, adding that the probability of a rate cut in July fell to 12% from 25%. The 10-year U.S. Treasury yield climbed nearly twelve bps on Friday and the dollar index rose 0.5%. The key U.S. jobs report followed a string of mostly weak data points that had raised concerns about the economic outlook. With that risk now tempered to an extent, attention turns to the pivotal U.S.-China trade talks scheduled to take place in London later in the day. KEY INDICATORS: ** One-month non-deliverable rupee forward at 85.84; onshore one-month forward premium at 8.75 paise ** Dollar index at 98.99 ** Brent crude futures down 0.1% at $66.4 per barrel ** Ten-year U.S. note yield at 4.49% ** As per NSDL data, foreign investors bought a net $5.8 million worth of Indian shares on Jun. 5 ** NSDL data shows foreign investors sold a net $9.3 million worth of Indian bonds on Jun. 5 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
Forbes
4 days ago
- Business
- Forbes
Potential Problems Loom Underneath Resilient Labor Market Data
The labor market added 139,000 jobs and the unemployment rate stayed at 4.2% in May 2025, according to the latest release from the Bureau of Labor Statistics. Those top line numbers indicate a resilient labor market. Hiring seems to continue apace, even though widespread economic policy uncertainty has clouded planning for many businesses. But, there are also signs, especially a drop in the labor force, that a slowdown may be under way. The latest labor market data show several positive signs. The labor market has continuously added jobs for 53 months now, starting in January 2021. And, the unemployment rate has stayed at or below 4.2% since November 2021, even as the Federal Reserve hit the brakes by raising its key interest rate, meant to slow hiring. Moreover, monthly wage growth has accelerated from 0.2% in March to 0.3% in April and to 0.4% in May 2025. All of these data points show a labor market that has held steady amid the turmoil brought on by President Donald Trump's chaotic approach to economic policy. There are signs, though, that things may be slowing more than the overall numbers suggest, although no single month makes a trend. For instance, federal government employment has fallen by 59,000 jobs since January. Many federal government employees live sort of in a limbo, with some being laid off but those layoffs being stopped by the courts, others being recalled, and even others having accepted retirements later this year. As several of these things unwind, federal government unemployment could further decline. Manufacturing could become another trouble spot. Total manufacturing employment was 88,000 jobs lower than in May 2024 – the last month of peak employment in this sector. Jobs in that sector dropped by another 8,000 in May. Most of those job losses – 7,000 – happened in durable goods manufacturing, particularly machinery equipment. As Trump's tariff chaos continues, many manufacturing firms will likely delay or completely hold off expansion plans. They may have to pay more for inputs such as steel, which just saw its tariff rate increase to 50%, and they may face retaliatory tariffs for their exports. Further, the latest jobs market release revised the prior two months downward. There were 65,000 fewer jobs added in March and 30,000 fewer jobs created in April 2025 than previously reported. The March data had already been revised downward by 43,000 in April 2025. That is, there are now 108,000 fewer jobs than were initially reported for March 2025. The estimate of new jobs for March thus has been almost cut in half from 228,000 to 120,000. The downward revisions of prior labor market estimates have now happened for a three months, after the monthly data releases revised jobs numbers upward from November 2024 to February 2025. That is, for four months, the BLS reported a stronger than previously estimated labor market, while the opposite has been true since then. The latest labor market data also show that many people left the labor market, including many unemployed workers. The household survey, which allows for the calculation of the unemployment rate, shows a drop in the labor force by 625,000 people in May 2025. At the same time, employment in the household survey fell by 696,000 people. This was the largest single month drop since December 2023 for both the total labor force and number of people with jobs. The rest became unemployed, lowering long term unemployment for the first time since January 2025. The unemployment rate stayed steady because people left the labor force all together, not because more people found jobs. The latest jobs market data shows an economy in a holding pattern. Job growth has moderated, but remains positive. On the other hand, hundreds of thousands of people left the labor force last month, possibly because they were becoming frustrated with not finding new jobs. The economy seems still resilient for now, but trouble spots are emerging.
Reuters
4 days ago
- Business
- Reuters
Fed seen in no rush to cut rates as US job market cools but doesn't crumble
June 6 (Reuters) - Federal Reserve policymakers has little reason to rush on rate cuts, traders bet Friday, after a government report showed the labor market is cooling but is far from collapsing. With the unemployment rate steady at 4.2% and job growth slowing to a gain of 139,000 last month, Fed policymakers are seeing as waiting until September to cut rates, with just one more cut in view by December, based on trading in short-term interest-rate futures, which also showed traders backing away from bets that would pay off if the Fed delivered a third rate cut by year's end.
