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Burnout has become a prevalent issue among American workers as Aflac's WorkForces Report revealed that 59% of Americans are experiencing at least moderate levels of burnout, an increase of 9% as compared to 2021. With burnout rates reaching an all-time high since the pandemic, various high-end hospitality brands have started offering treatments and programs to address the white-collar wipeout. 
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Lyft's new CEO, David Risher, announced significant job cuts to reduce costs, potentially affecting 30% of the company's workforce or over 4,000 employees. This move aims to invest in competitive pricing, faster pick-up times, and better driver earnings amid stiff competition with Uber.
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A recent survey by HR Dive found that, while hiring is no longer the top priority for most HR professionals due to budget concerns, it remains a key focus, with culture and maximizing value within budgetary constraints following closely behind. HR departments are taking a closer look at their spending and investing in smart talent retention strategies such as upskilling and reskilling, compensation and benefit investments, and relying on contractual workers to reduce costs while improving existing employee workload.
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In March 2023, the unemployment rate was lower in 18 states, higher in the District of Columbia, and stable in 32 states, according to the U.S. Bureau of Labor Statistics. South Dakota had the lowest jobless rate — 1.9% — among all U.S. states, while Nevada had the highest at 5.5%. |
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Bed Bath & Beyond has filed for Chapter 11 bankruptcy, putting 32,000 employees at risk of job loss. The filing is to facilitate an organized closure of its businesses while conducting a restricted marketing process to gauge outside interest in buying some or all its assets. |
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Wage compression is becoming a problem in high-paying job groups — defined as those with average salaries of $125,000 or more — as 83% of said groups had numerous tenured employees earning as much as newly hired employees, according to a recent report by Syndio, a workplace equity analytics platform. Syndio research economist Chris Martin noted that the issue may threaten retention and employee engagement, and employers need to be prepared to explain any pay gaps between tenured and new employees in the pay transparency era. |
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In January, the Federal Trade Commission (FTC) proposed a rule that would prohibit employers from asking workers to sign noncompete clauses and has since invited individuals, associations, and businesses to comment on the rule. The regulator received close to 19,000 comments, with those for and against largely divided. |
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