States reported that 207,000 workers filed for new unemployment benefits during the week ending April 20, a decrease of 5,000 from the previous week’s unrevised level. About 1.8 million workers continue to claim unemployment benefits.
Takeaway for employers: Though unemployment is falling, the labor market may see some turbulence soon. The Commerce Department reported this morning slower economic growth than expected. Gross domestic product, a measure of the goods and services produced in the first quarter of the year, increased at a 1.6 percent annualized pace, according to the department’s Bureau of Economic Analysis. Economists had forecast an increase of 2.4 percent, following the 3.4 percent gain in the fourth quarter of last year.
An organization run by AI is not a futuristic concept. Such technology is already a part of many workplaces and will continue to shape the labor market and HR. Here's how employers and employees can successfully manage generative AI and other AI-powered systems.
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