The Week in Jobs

The job market keeps sending mixed signals, and today’s headlines highlight just how disconnected the system has become.

In today's episode of Cornering the Job Market, host Pete Newsome breaks down new data from Business Roundtable, where 169 of America’s largest CEOs shared their hiring plans for the next six months. While business confidence and spending are rising, hiring is flat: roughly one-third of CEOs plan to hire, one-third plan to cut, and one-third plan to do nothing. The result is an economy that looks healthy on paper but isn’t translating into new jobs.

Next, Pete examines another wave of tech layoffs, following Atlassian's announcement of 1,600 job cuts as it shifts investment toward AI and enterprise sales. The move follows similar workforce reductions across the tech sector, reinforcing a pattern where companies invest heavily in AI while reducing headcount.

Finally, a new report from the Society for Human Resource Management reveals a troubling education-to-employment gap. More than half of college graduates are underemployed within a year of finishing school, and nearly half remain underemployed even a decade later. Employers say they can’t find the right skills, while workers say the jobs simply aren’t there.

The takeaway: Companies are growing, investing, and spending, but the link between economic growth and job creation is weakening.

So here’s the question: If more than half of college grads are underemployed, is the problem education, employer expectations, or something deeper happening in the labor market?

Articles:
1. CEO Economic Outlook Index Q1 2026: https://www.businessroundtable.org/media/ceo-economic-outlook-index/ceo-economic-outlook-index-q1-2026
2. Reuters Coverage on Atlassian Layoffs: https://www.reuters.com/technology/atlassian-lay-off-about-1600-people-pivot-ai-2026-03-11/
3. From Education to Employment SHRM Report: https://www.shrm.org/about/press-room/shrm-releases-white-paper-on-strengthening-the-path-from-educati

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A $100 million bet on the skilled trades. A global automaker cutting 50,000 jobs. And new hiring data that suggests employers may be more optimistic than the headlines imply.

In today’s episode of Cornering the Job Market, host Pete Newsome breaks down three major stories shaping the future of work.

First, BlackRock announced a $100 million initiative called Future Builders, aimed at expanding training for electricians, HVAC technicians, plumbers, and ironworkers. The investment reflects a growing realization that America’s infrastructure boom, including data centers, energy systems, and AI infrastructure, can’t happen without skilled trades.

Next, Pete looks at new global hiring sentiment data from ManpowerGroup, which surveyed more than 41,000 employers across 42 countries. The outlook improved significantly heading into Q2, with the United States posting one of the strongest hiring expectations. But there’s a catch: much of that data was collected before the latest economic uncertainty and geopolitical tensions intensified.

Finally, the episode covers troubling news from Volkswagen, which announced plans to cut 50,000 jobs by 2030 following a sharp drop in earnings. While the cuts are centered in Germany, the forces driving them (EV transitions, global competition, and trade pressures) could ripple across the auto industry worldwide.

The takeaway: the job market is splitting. Skilled trades and infrastructure jobs are surging, hiring sentiment is improving in some sectors, but major industries are still restructuring.

So here’s the question: Do you think skilled trades will become the most secure careers of the next decade, or will automation eventually disrupt those jobs too?

Articles:
1. BlackRock Press Release: https://www.blackrock.com/corporate/newsroom/press-releases/article/corporate-one/press-releases/blackrock-launches-philanthropic-skilled-trades-initiative
2. 2026 Q2 ManpowerGroup Survey: https://www.manpowergroup.com/en/insights/q2-2026-manpowergroup-employment-outlook-survey
3. Volkswagen Cuts: https://finance.yahoo.com/news/volkswagen-cut-50-000-jobs-123055122.html?

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AI isn’t theoretical anymore... It’s profitable.

A new global Snowflake survey of 3,400+ companies reveals that 92% of early AI adopters are seeing positive returns, with average ROI hitting 49%. Companies are making money. Real money.

But here’s the part that should get your attention: 63% of respondents report job losses at the entry level. Operations, customer service, and data analytics teams are seeing the biggest impact. Middle management is next.

At the same time, not all the news is negative. Cybersecurity, IT operations, and software development are reporting net job gains. In fact, 42% of companies say AI has created jobs only, not cut them.

So what’s really happening? AI is restructuring work, not simply eliminating it.

Host Pete Newsome also breaks down:

• Glassdoor’s Employee Confidence Index falling below 50%
• Senior leaders showing the fastest decline in confidence
• ADP’s weekly jobs pulse showing modest but narrow job growth
• Why customer service roles face the biggest automation risk
• Why 69% of workers expect AI to take over part of their own job within 12 months

The labor market is shifting fast. If companies are profiting from AI, how should workers respond?

Are you preparing for what’s coming… or hoping it slows down?

Articles:
1. Snowflake/Omdia Report: https://www.snowflake.com/en/lp/radical-roi-generative-ai/
2. Glassdoor Report: https://www.glassdoor.com/blog/glassdoor-employee-confidence-index-february-2026/
3. ADP NER Pulse: https://mediacenter.adp.com/2026-03-10-ADP-National-Employment-Report-Preliminary-Estimate-for-February-21,-2026

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Corporate layoffs are rising at the fastest pace since the Great Recession, and at the same time, Washington is quietly hiring back federal workers after cutting more than 387,000 jobs.

In today’s Breaking Job News, host Pete Newsome breaks down the Conference Board’s latest Employment Trends Index, where six of eight indicators turned negative, and workers say jobs are now as hard to get as they were in early 2021.

Pete also examines a Washington Post investigation into the federal workforce reversal, including the rehiring of 123,000 employees after sweeping DOGE-era cuts, and why agencies like the VA, IRS, and Social Security are struggling to fill critical roles.

Meanwhile, a new Business Insider report shows CEOs are considering layoffs at the fastest pace since 2009. Wall Street continues rewarding cost-cutting, and new Morgan Stanley data shows productivity rising while employment falls in AI-exposed industries.

Is this stagnation? Policy uncertainty? AI restructuring? Or all of the above?

Pete breaks down what the data actually says and what it means for workers right now.

Articles:
1. Conference Board ETI: https://www.conference-board.org/topics/employment-trends-index/
2. Washington Post: https://www.washingtonpost.com/politics/2026/03/09/trump-hiring-federal-workers/
3. Business Insider: https://www.businessinsider.com/ceos-make-job-cuts-worries-about-economy-and-ai-impacts-2026-3

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The February jobs report just dropped, and the headline is rough. U.S. payrolls fell by 92,000 in February, reversing much of January’s already revised gains. Unemployment ticked up to 4.4%, long-term unemployment jumped 27% year over year, and prior months were quietly revised downward, wiping out tens of thousands of jobs we thought existed.

In today’s episode of Cornering the Job Market, host Pete Newsome breaks down what the Bureau of Labor Statistics report actually shows beneath the surface. December’s gain was revised to a loss. January was trimmed again. Sequentially, the labor market looks much weaker than the headlines suggest.

Pete also unpacks the latest data from the National Federation of Independent Business, which paints a different picture. Small business hiring activity ticked up, but 85% of owners say they can’t find qualified applicants. Skilled trades shortages persist, compensation is rising in pockets, and many small firms appear focused on staying steady rather than expanding.

The result is a divided labor market: payrolls falling nationally while small businesses struggle to fill specific roles. Wages are holding up, but displaced workers are taking longer to find jobs.

So here’s the big question: Are we entering a real downturn in the job market, or are these numbers masking something deeper beneath the revisions?

Articles:
1. BLS Employment Situation Summary: https://www.bls.gov/news.release/empsit.nr0.htm
2. NFIB Jobs Report: https://www.nfib.com/news/press-release/nfib-jobs-report-employment-index-ticks-up/

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Layoffs are down, but hiring is falling even faster. In today’s Cornering the Job Market, host Pete Newsome breaks down a wave of new labor market data that reveals a troubling pattern: companies aren’t cutting aggressively anymore, but they’re not adding jobs either.

We start with the February Challenger Job Cut Report, which shows layoffs dropped sharply month over month. Sounds like good news... until you see hiring plans are down more than 50% from last year. The result? Workers are keeping their jobs, but new opportunities aren’t opening up.

Then comes the surprise announcement from Morgan Stanley, cutting 2,500 employees despite a record revenue year. Similar patterns are emerging across major corporations: strong earnings, yet shrinking headcount. The message is shifting from “cutting because we have to” to “cutting because of where we’re going.”

Finally, Pete breaks down three fresh labor market reports, including new data from Revelio Labs, showing net job losses, falling job postings, slower hiring rates, and even declining new job posting salaries. Hiring is running at stall speed, and attrition is outpacing additions.

So here’s the question: Would you rather see layoffs spike again, or stay in a market where jobs just quietly disappear and never get replaced?

Articles:
1. February Challenger Report: https://www.challengergray.com/blog/challenger-report-february-cuts-plunge-hiring-falls-56-percent/
2. DOL Unemployment Insurance Weekly Claims: https://www.dol.gov/ui/data.pdf
3. Morgan Stanley Cuts: https://www.reuters.com/business/world-at-work/morgan-stanley-lays-off-2500-employees-across-all-divisions-wsj-reports-2026-03-04/
4. Revelio Labs Report: https://www.reveliolabs.com/news/rpls/the-economy-shed-17k-jobs-in-february-2026/

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A new employment report suggests the job market is improving, but the details tell a very different story.

In today’s episode of Cornering the Job Market, host Pete Newsome breaks down the latest private payroll data from ADP, which shows the strongest hiring month in seven months. Private employers added 63,000 jobs in February, a headline that sounds encouraging at first glance.

A closer look reveals that nearly all of that growth came from just two sectors: healthcare and construction. Healthcare continues to expand as demand for workers grows, while construction hiring is being fueled by massive investments in data centers. Outside those areas, the picture is far less optimistic. Professional and business services lost tens of thousands of jobs for the second straight month, and manufacturing continues a long downward trend.

Pete also explores what the data says about who actually holds the power in today’s labor market. The pay premium for switching jobs has dropped to a record low, signaling that employers now have the upper hand after the worker-driven hiring frenzy of 2022.

Next, we look at surprising new research from Revelio Labs about LinkedIn profiles. The study finds that professionals who list degrees like MBA or PhD next to their name often score lower on prestige metrics, and MBA holders who do so earn significantly less on average than those who don’t.

Finally, Pete reviews new workplace data from Gartner on how companies are actually using AI. Many managers report productivity improvements, but most organizations are still struggling to implement AI effectively. Leadership teams are experimenting heavily, while employees lag behind in adoption.

The result is a job market that looks healthy on the surface, but is changing quickly underneath.

So the question is: If hiring growth is concentrated in only a few industries, what does that mean for everyone else?

Articles:
1. ADP Employment Report: https://adpemploymentreport.com/
2. Revelio Labs Analysis: https://www.reveliolabs.com/news/social/listing-your-degree-in-your-name-may-not-signal-what-you-think/
3. Gartner HR Survey: https://www.gartner.com/en/newsroom/press-releases/2026-3-4-gartner-hr-survey-reveals-45-percent-of-managers-report-ai-has-lived-up-to-their-expectations

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If AI replaces your job, can the Federal Reserve help? According to a new Reuters report, the answer may be no. In today’s episode of Cornering the Job Market, host Pete Newsome breaks down why Fed officials are openly questioning whether traditional tools like interest rate cuts will work in an AI-driven displacement cycle and why that admission matters more than most people realize.

Pete starts with Block’s decision to cut roughly 40% of its workforce, about 10,000 roles, as CEO Jack Dorsey leans into AI-powered, smaller teams. He explains why this isn’t a struggling company story, but a productivity shift story and what it signals for white-collar workers. Pete also looks at Fed Governor Lisa Cook’s warning that rate cuts may not solve AI-driven job loss, alongside research from the Brookings Institution suggesting up to 30% of workers could see major task disruption.

Next, he turns to a troubling workforce trend: a new Gallup survey showing 71% of public school teachers now hold second jobs, with most working during the school year. Teacher pay now trails comparably educated workers by 27%, the largest gap in 50 years. Pete connects this to long-term talent pipeline risks and what it says about how we value essential professions.

Finally, he unpacks a The Wall Street Journal piece highlighting concerns about Gen Z entering the workforce without core interpersonal skills. NYU professor Tessa West argues that fewer in-person experiences and early relationship-building opportunities may be weakening leadership development for an entire generation. Pete shares why this matters for managers, employers, and young professionals alike.

The takeaway: AI is reshaping white-collar work, teachers are financially stretched, and workplace norms are shifting fast. So here’s the question: Are we prepared for a labor market where technology advances faster than our institutions (and our workforce) can adapt?

Articles:
1. AI/Fed Story: https://www.reuters.com/business/fed-races-adapt-ai-promises-pitfalls-jobs-inflation-2026-03-02/
2. Gallup Survey: https://www.cnn.com/2026/03/02/business/jobs-teachers-salary-prices
3. WSJ Report: https://www.wsj.com/lifestyle/careers/gen-z-worker-skills-294463f6?mod=careers_news_article_pos2

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The headlines say customer service jobs are safe. They're not. And the data proves it.

Gartner just published a report claiming that half of the companies that cut customer service staff due to AI will rehire by 2027. Sounds like good news...until you read the fine print. Their own data tells a very different story.

Klarna's AI is now doing the work of 853 agents. Resolution time dropped from 11 minutes to 2. And the CEO just said something no one's talking about: AI is eating into level-2 support. The complex cases. The ones that supposedly require humans.

There are 2.81 million customer service reps in the US. Another 1.5 million offshore handling American calls. The displacement isn't coming. It's happening.

I've run a staffing agency for 20 years. We've placed thousands of customer service reps. This is bad for my business. But how I feel about it is irrelevant. What matters is what's actually happening.

CHAPTERS:
00:00 - The headline vs. the fine print
00:42 - What Gartner's data actually shows
01:18 - Sacks vs. Amodei: who's right
01:38 - Klarna didn't fail. They figured it out.
03:12 - Salesforce: 85% autonomous resolution
03:28 - Why the Yale AI study is misleading
04:05 - 4.3 million jobs in the crosshairs
04:48 - Why I'm not happy about this
05:15 - What to pay attention to now

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One company just cut 40% of its workforce... and Wall Street rewarded it.

In today’s episode of Cornering the Job Market, host Pete Newsome breaks down Block’s decision to eliminate more than 4,000 roles despite strong revenue and profit growth. CEO Jack Dorsey made it clear: AI has made teams productive enough to operate with far fewer people. Investors responded by sending Block’s stock up 25% overnight, signaling a powerful incentive for other CEOs watching closely.

Pete explains why this moment may mark a turning point in the AI era (especially for desk-based roles) and why the divide between “on your feet” jobs and corporate positions continues to widen.

The episode also covers a major proposed rule change from the U.S. Department of Labor that would make it easier for companies like Uber and DoorDash to classify workers as independent contractors. The shift would reverse Biden-era protections and simplify the criteria for contractor status, reopening the long-running debate over flexibility versus worker protections.

Finally, Pete reviews February’s tech layoff numbers, with more than 10,000 confirmed cuts across companies, including eBay, Workday, and C3.ai, some trimming a quarter or more of their workforce. The pace in early 2026 is already outpacing last year.

The big question: Is this a temporary correction, or are we watching the job market permanently resize around AI?

Articles:
1. Block AI Layoffs: https://finance.yahoo.com/news/fintech-company-block-lays-off-054744823.html?guccounter=1
2: Trump Administration Plans to Reverse Gig Worker Rules: https://www.wsj.com/business/trump-administration-plans-to-reverse-biden-rules-on-gig-workers-26690ccd?mod=jobs_news_article_pos3
3: Layoffs.fyi: https://layoffs.fyi/

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