Businesses

The Business of Winding Down Startups is Booming (pitchbook.com) 28

Startup wind-down services are seeing rapid growth as failed startups look for help shutting down. Pitchbook: On the phone with a founder who recently wound down his seed-stage software startup, I asked him what his plan was next. Having laid off all of his employees in autumn of last year, he was the last man standing: tasked with the thankless job of shutting down the company, returning capital, and dealing with tax documents. To handle the bureaucracy, the founder used Sunset, one of the companies that sprung up last year to respond to the burgeoning industry of failed startups.

In a sign of the times, such wind-down startups are growing rapidly. Sunset saw 9x quarter-over-quarter revenue growth and a 65% monthly customer growth rate between November 2023 and January 2024. Competitor SimpleClosure, which closed a $4 million seed round this month led by Infinity Ventures, has passed the $1 million mark in annualized revenue and also recorded a monthly growth rate of over 50% in the same period. Since its public launch in September, the startup's revenue has increased more than 14x.

Even larger startups are interested in the additional help. "We've now had multiple companies that have become customers that have raised tens of millions [in venture funding]," said Dori Yona, co-founder and CEO of SimpleClosure. In early February, equity management platform Carta joined the bandwagon: CEO Henry Ward announced in a blog post a new startup shutdown service, Carta Conclusions. "[T]he work of dissolving a company is exceptionally unpleasant. It is also, by definition, zero-value to the founder, the company, and the world," Ward wrote. Carta's entrance could disrupt its competitors, given its existing relationships with a large customer base of startups and access to internal startup data on cap table management, which could help it to accurately target prospects. Founders never want to think about the possibility of failure, but the vast majority of startups never make it to a successful liquidity event.

Education

Half of College Graduates Are Working High School Level Jobs 266

According to a new study, almost half of America's new college graduates are winding up in jobs they didn't need to go to college to get. CBS News reports: If a graduate's first job is in a low-paying field or out-of-line with a worker's interests, it could pigeonhole them into an undesirable role or industry that's hard to escape, according to a new study (PDF) from The Burning Glass Institute and the Strada Institute for the Future of Work. Another study from the HEA Group found that a decade after enrolling in college, attendees of 1 in 4 higher education programs are earning less than $32,000 -- the median annual income for high school graduates. A college degree, in itself, is not a ticket to a higher-paying job, the study shows.

"Getting a college degree is viewed as the ticket to the American dream," said [Burning Glass CEO Matt Sigelman], "and it turns out that it's a bust for half of students." The single greatest determinant of post-graduation employment prospects, according to the study, is a college student's major, or primary focus of study. It can be even more important than the type of institution one attends. Choosing a career-oriented major like nursing, as opposed to criminal justice, gives graduates a better shot at actually using, and getting compensated for the skills they acquire. Just 23% of nursing students are underemployed, versus 68% of criminal justice majors. However, focusing on science, technology, engineering and mathematics (STEM) subjects is not a guarantee of college-level employment and high wages, the study found. [...]

Many college graduates remain underemployed even 10 years after college, the study found. That may be because employers seeking college-level skills also tend to focus on job candidates' recent work experience, placing more emphasis on the latest jobs held by candidates who have spent years in the workforce, versus a degree that was earned a decade prior. "If you come out of school and work for a couple of years as waiter in a restaurant and apply for a college-level job, the employer will look at that work experience and not see relevance," Sigelman said.
Social Networks

Is LinkedIn Becoming the Hottest New Dating Site? (businessinsider.com) 110

Business Insider's Kelli Maria Korducki reports on a growing trend happening on LinkedIn: some people are using the professional network for personal connections, fielding romantic offers amid job postings. But that leaves the question: Is it a good idea to mix work and love? From the report: Dustin Kidd, a professor of sociology at Temple University who researches social media and pop culture, said that dating via LinkedIn belonged to a long tradition of "dating hacks" -- using online tools designed for other purposes to snag a date. "In the aughts, this happened with Friendster and then Myspace," Kidd said, but has since spread to myriad platforms that are ostensibly romance-free. Even fitness-tracking sites such as Strava are fair game. The common thread for love-hijacked social-media sites is a single feature, Kidd said: DMs. "The design of LinkedIn helps to maintain its focus on the professional, but any platform with a direct-messaging option is likely to also be used to pursue sex and dating," he told me. The ease and relative privacy of direct messaging help explain how some people are using LinkedIn for romance, but it doesn't explain why. In an age with so many dedicated dating platforms -- from giants such as Tinder, Bumble, and Hinge to niche apps including Feeld (for the unconventional), Pure (for the noncommittal), and NUiT (for the astrologically inclined) -- why mix Cupid's arrow with corporate updates?

Any type of social media where you can see people's pictures can turn into a dating app. And LinkedIn is even better because it's not just showing people's fake lives. One answer may be the growing number of Americans who have gotten tired of the roulette-like experience that comes with modern dating apps. In a 2023 Pew survey of US adults, nearly one-third of respondents said they had used an online dating site or app at least once. More than half of women who had used the apps reported feeling overwhelmed by the number of messages they had received in the past year, while 64% of men said they felt insecure from the lack of messages they had gotten. Though an overwhelming majority of men and women said they'd felt excited about people they connected with, an even-larger proportion of respondents said they were sometimes or often disappointed by their matches. [...]

LinkedIn's appeal as a dating site, according to people who use it that way, is the platform's ability to give back some of that control and boost the caliber of their prospects. Because the professional-networking site asks users to link to their current and former employers' profile pages, it offers an additional layer of credibility that other social-media platforms lack. Many profiles also include first-person references from former colleagues and managers -- real people with real profile pages. [...] Even for those who shy away from using LinkedIn to angle for dates, the site has become a go-to tool for vetting romantic candidates found through conventional dating apps or in-person encounters. "Social media is just one big dating app," [said Samuela John, a 24-year-old personal organizer in New York City who developed chemistry with an oil-industry man on the platform]. "Any type of social media where you can see people's pictures can turn into a dating app. And LinkedIn is even better because it's not just showing people's fake lives." [...] "I don't think you should go into it like, 'All right, I'm going to find my husband on LinkedIn,'" John said. "I think you should go about it as if you were just networking, like in a casual sense. And then if you end up meeting the person, see the vibes and then go from there."

Science

Postdoc Career Optimism On the Rise (nature.com) 33

Nature's global survey finds that postdoctoral researchers still feel as though they are academia's drudge labourers, but have more confidence about job prospects in a post-pandemic world. Nature: In 2020, respondents to Nature's first global survey of postdoctoral researchers feared that COVID-19 would jeopardize their work. Eighty per cent said the pandemic had hindered their ability to carry out experiments or collect data, more than half (59%) found it harder to discuss their research with colleagues than before the crisis, and nearly two-thirds (61%) thought that the pandemic was hampering their career prospects.

That outlook has changed, according to Nature's second global postdoc survey, carried out in June and July this year. Now only 8% of the respondents say the economic impacts of COVID-19 are their biggest concern (down from 40% in 2020). Instead, they are back to worrying about the usual things: competition for funding, not finding jobs in their fields of interest or feeling pressure to sacrifice personal time for work. Overall, 55% say they are satisfied in their current postdoc, a slide from 60% in 2020. This varies by geography, age and subject area. Postdocs aged 30 and younger are more likely to be satisfied (64%) than are those aged 31-40 (53%). Biomedical postdocs -- who make up slightly more than half of the respondents -- pull the average down, because only 51% say they are satisfied with their jobs.

Education

US Colleges See a Surge in CS Majors, Fewer Humanities Majors (msn.com) 284

The Washington Post notes a trend at U.S. colleges like the University of Maryland: "booming enrollment in computer science and plummeting student demand for the humanities." The number of students nationwide seeking four-year degrees in computer and information sciences and related fields shot up 34 percent from 2017 to 2022, to about 573,000, according to the National Student Clearinghouse Research Center. The English-major head count fell 23 percent in that time, to about 113,000. History fell 12 percent, to about 77,000... In 2010, arts and humanities majors of all kinds outnumbered the computer science total at the University of Maryland more than 4 to 1. Now the university counts about 2,400 students majoring in arts and humanities — a collection of disciplines that fill an entire college — and about 3,300 in computer science...

As with many schools, the University of Maryland is searching for a new academic equilibrium to simultaneously handle rising demand for tech credentials and preserve what appear to be vulnerable pillars of the humanist tradition. New majors, such as "immersive media design," are arising to bridge technology and humanities as departments in older fields push to stay competitive. The ferment has fed debate about the purpose of college, the value of degrees and how much career prospects — rather than passion for learning — shape the academic paths that students take. Some schools have taken radical steps. Marymount University, a Catholic institution in Northern Virginia, decided in February to phase out history and English majors, citing low enrollment and a responsibility to prepare students "for the fulfilling, in-demand careers of the future." St. Mary's University of Minnesota made a similar announcement last year. There is no sign that more prominent colleges and universities will follow suit...

Computer science, a base for exploring artificial intelligence and other topics, is not the only hot subject these days. Data science has taken off over the past decade. So has nursing. Business, management and marketing have enduring appeal. In a time of economic upheaval, avoiding debt and landing a good job are top goals for many students. Value matters. "Public confidence in college paying off is being questioned at a higher rate than ever before," Michael Itzkowitz, former director of the federal College Scorecard, wrote in an email. "Some of this has to do with rising tuition costs. Some of this was influenced by the pandemic, where many students were questioning the cost they were paying to learn from their home computer, rather than being on a physical college campus."

Businesses

The Disappearing White-Collar Job (wsj.com) 154

An anonymous reader writes: A once-in-a-generation convergence of technology and pressure to operate more efficiently has corporations saying many lost jobs may never return. The jobs lost in a monthslong cascade of white-collar layoffs triggered by overhiring and rising interest rates might never return, corporate executives and economists say. Companies are rethinking the value of many white-collar roles, in what some experts anticipate will be a permanent shift in labor demand that will disrupt the work life of millions of Americans whose jobs will be lost, diminished or revamped through the use of artificial intelligence.

"We may be at the peak of the need for knowledge workers," said Atif Rafiq, a former chief digital officer at McDonald's and Volvo. "We just need fewer people to do the same thing." Long after robots began taking manufacturing jobs, artificial intelligence is now coming for the higher-ups -- accountants, software programmers, human-resources specialist and lawyers -- and converging with unyielding pressure on companies to operate more efficiently. [...] The Labor Department projects that of the 20 occupations that will create the most jobs through 2031, about two-thirds will be blue-collar jobs that pay around $32,000 a year, including home-health and personal-care aides, restaurant cooks, fast-food workers, wait staff and freight movers. The professions with the best prospects for growth that require a college degree include software developers, operations managers and registered nurses. Those jobs pay around $100,000 a year and are forecast to be better protected than other white-collar work from AI displacement.

IT

Recruiters Try Asking Laid Off Tech Workers to Return to the Same Companies as Contractors (seattletimes.com) 169

The Seattle Times reports: After losing their jobs at one of Seattle's biggest tech companies, some workers find themselves facing an unexpected question: Do you want to return to the company that just let you go?

There's a catch. Those offers, from third-party recruiters eager to place workers at the companies they just left, are for contract positions rather than staff positions. They would come with an end date, a lower salary, no benefits and no stock options.

For workers the messages range from insensitive to insulting. "We all just got the shock of our life, the last thing I need is for you to continue to ask me to go to a company that just let me go," said one former Microsoft worker who was laid off in March and asked to remain anonymous during the job hunt. Another worker who was laid off from Amazon in January and also asked to remain anonymous out of concern for future job prospects said they've heard from several recruiters looking specifically for people with Amazon experience. In one response, the former Amazonian passed this message to the recruiter: "Tell Amazon if they want an engineer, they can just not fire me later this month...."

Because companies and recruiters cast such a wide net, workers who were recently cut are still getting caught in the pool of potential candidates — whether they want to be or not... [T]ech companies often ask recruiters to find workers who have already worked at their company, particularly when hiring for a contract position that would require a worker to get up to speed quickly, said Nabeel Chowdhury, senior vice president at recruiting firm 24 Seven Talent. That's what happened with the former Amazon worker. One recruiter sent a message that began "Reaching out to see if you might be open to returning to Amazon on a contract position?"

One former Microsoft worker told the Seattle Times "I do have a sense of pride. There's no way I want to go back ... making half the amount."
Transportation

California's Rain Slows Construction for Its High-Speed Bullet Train (fresnobee.com) 62

The Fresno Bee newspaper reports that flooding in parts of California "have also ground work to a halt at several key construction sites for California's high-speed rail project." But while standing water at some locations has prevented work crews from reaching their job sites, the Central Valley director for the Cailfornia High-Speed Rail Authority said it's the prospects for a lengthy summer run of water in local irrigation canals that present a greater potential disruption to construction later this year....

At the Tule River viaduct near Highway 43 and Avenue 144 south of Corcoran, drone video posted to social media on March 22 by the Tulare County Sheriff's Office shows vehicles stranded in floodwaters and support columns for the structure sticking out of the water. "There's a lot of work we can't get to," Garth Fernandez, who heads up the rail agency's Central Valley region, told The Fresno Bee in a telephone interview this week. "So at Tule River and Deer Creek, right now we are not working. ... We don't even have access to that (Deer Creek) site right now because it's all under water." Fernandez added that in the meantime, the rail agency and its contractor have turned their attention to providing what help they can to nearby communities that are being affected by flooding....

While some construction locations are facing delays because of standing flood water, crews have been able to continue working at other sites in Madera, Fresno, Kings and Kern counties — a 119-mile stretch covered by three separate construction contracts.... So far, no significant damage has been reported on any of the high-speed rail structures that have been completed or are in various stages of construction. "From north to south, water is flowing underneath all of our completed structures," Fernandez said. "All of our structures are on piles and deep foundations, so I don't believe we'll have an issue with damage to our structures... We may have some areas of erosion, some embankments washed out in a couple of places, but that minor damage can be resolved rather easily," he added. "But for all of our major structures, the current reporting is that we are holding good."

The rail line has been designed to cope with major floods; viaducts and a railbed that will elevated above the level of the surrounding land are expected to minimize the risk of damage from future floods, Fernandez said. "Our facilities are designed for a 100-year flood, so (the current events are) showing that our design is actually working," he said. "It's designed in a way that even though it's a large system north to south, it's able to convey all the flood water past our embankments and our alignment."

United States

America's Chip Moonshot Should Take Aim At Its Education System (ft.com) 86

An anonymous reader shares a report: In the decade following US President John F Kennedy's 1961 announcement of America's mission to put a man on the moon, the number of physical science PhDs tripled, and that of engineering PhDs quadrupled. Now, the country is embarking on a moonshot to rebuild the semiconductor fabrication industry. Corporations that want a cut of the $39bn in manufacturing incentives within the Chips and Science Act programme can start filing their applications for subsidies on Tuesday. In order to get them, they'll have to show that they are contributing to something that may be even more difficult than putting a man in space: building a 21st-century workforce. America has plenty of four-year graduates with crushing debt (the national average for federal loan debts is more than $37,000 a student) and underwhelming job prospects. It also has plenty of college dropouts and young people with high-school degrees who are trying to make ends meet through minimum-wage jobs supplemented by gig work.

What it lacks are the machinists, carpenters, contractors and technicians who will build the new fabrication facilities. It also needs to triple the number of college graduates in semiconductor-related fields, such as engineering, over the next decade, according to commerce secretary Gina Raimondo. Raimondo, who is well on her way to becoming the industrial strategy tsar of the administration, gave a speech to this effect earlier this month. In it, she underscored not only the need to rebuild chip manufacturing in a world in which the US and China will lead separate tech ecosystems, but also to ensure that there are enough domestic workers to do so. "If you talk to the CEOs of companies like TSMC and Samsung [both of which are launching fabs in the US], they are worried about finding these people here," Raimondo told me. She cites workforce development -- alongside scale and transparency -- as major hurdles that must be overcome to meet the administration's goals.

IBM

IBM Shifts Remaining US-Based AIX Dev Jobs To India 77

According to The Register, IBM has shifted the roles of US IBM Systems employees developing AIX over to the Indian office. From the report: Prior to this transition, said to taken place in the third quarter of 2022, AIX development was split more or less evenly between the US and India, an IBM source told The Register. With the arrival of 2023, the entire group had been moved to India. Roughly 80 US-based AIX developers were affected, our source estimates. We're told they were "redeployed," and given an indeterminate amount of time to find a new position internally, in keeping with practices we reported last week based on claims by other IBM employees.

Evidently, the majority of those redeployed found jobs elsewhere at IBM. A lesser number of staff are evidently stuck in "redeployment limbo," with no IBM job identified and no evident prospects at the company. "It also appears that these people in 'redeployment' limbo within IBM are all older, retirement eligible employees," our source said. "The general sense among my peers is that redeployment is being used to nudge older employees out of the company and to do so in a manner that avoids the type of scrutiny that comes with layoffs."

Layoffs generally come with a severance payment and may have reporting requirements. Redeployments -- directing workers to find another internal position, which may require relocating -- can avoid cost and bureaucracy. They also have the potential to encourage workers to depart on their own. We're told that IBM does not disclose redeployment numbers to its employees and does not report how internal jobs were obtained -- through internal search, with the assistance of management -- or were not obtained -- employees left in limbo or who choose to leave rather than wait.
Education

Survey Reveals the Most-Regretted (and Least-Regretted) College Majors (cnbc.com) 140

A report from the Georgetown's Center on Education and the Workforce found that Bachelor's degree holders generally earn 84% more than those with just a high school diploma, reports CNBC.

"Still, 44% of all job seekers with college degrees regret their field of study." Journalism, sociology, communications and education all topped the list of most-regretted college majors, according to ZipRecruiter's survey of more than 1,500 college graduates who were looking for a job. "When you are barely managing to pay your bills, your paycheck might become more important." Of graduates who regretted their major, most said that, if they could go back, they would now choose computer science or business administration instead.

All in, the top-paying college majors earn $3.4 million more than the lowest-paying majors over a lifetime.

Graduates entering the workforce with good career prospects and high starting salaries are the most satisfied with their field of study, job site ZipRecruiter also found. Computer science majors, with an average annual starting salary of almost $100,000, were the happiest overall, according to ZipRecruiter. Students who majored in criminology, engineering, nursing, business and finance also felt very good about their choices.

IT

Two Tech CEOs Wanted Every Worker to Have a Permanent, Publicly-Available Job Performance File (vice.com) 153

"Two CEOs on a podcast casually proposed a shareable database of worker performance that would follow them between companies, forever, and encouraged listeners to create one," writes Slashdot reader merauder128 , summarizing a recent article on Vice.

"HR professionals say it's a terrible idea."

Vice points out the podcast both the host and guest were CEOs of "data harvesters that package and resell data to other parties." Through one lens, it was a mundane musing between two CEOs of data companies talking about how awesome it would be to have more data on something. But in the context of experiments occurring in the tech industry around hiring practices, it was two influential CEOs encouraging other entrepreneurs to create a business that would be an absolute nightmare for workers, a type of credit score for workers that could be a permanent HR file that follows workers from one job to the next, and where a worker who struggles at one job may have trouble getting another....

It is also in line with a growing trend among tech companies that, spurred by work-from-home and hybrid work, are increasingly interested in quantifying employee performance. The most prominent example is Coinbase introducing an app so employees can constantly rate each other's performances, a scenario even the normally cheery TechCrunch said "sounds rough."

Over the last several years, there has been a boom in employee management software solutions such as Workday, Lattice, CultureAmp that are used across thousands of companies for performance reviews and other sensitive HR tasks. Technologically speaking, what Youakim and Hoffman are talking about is opening those confidential resources — or some condensed version of them that can be easily digested and analyzed — up to everyone.

None of these HR software companies have indicated that they have any intention of doing this.

The article warns that experts who have studied hiring extensively believe a permanent database database "would allow this complete, random mess to follow workers their entire careers, affecting their job prospects, earning potential, and their broader lives." And the article summarizes a reaction to the idea from John Hausknecht, a professor of human resources at Cornell University. "It assumes people don't change, that jobs require similar attributes, that a person's experience at one company is relevant to another where they will be in a different environment with a different manager and different company culture....

"Or, to put it a different way, 'Just because we can track it, collect it, and ask about it,' Hausknecht said, 'doesn't necessarily mean we should.'"
AI

US Warns of Discrimination in Using AI To Screen Job Candidates (npr.org) 52

The federal government says that artificial intelligence technology to screen new job candidates or monitor worker productivity can unfairly discriminate against people with disabilities, sending a warning to employers that the commonly used hiring tools could violate civil rights laws. From a report: The U.S. Justice Department and the Equal Employment Opportunity Commission jointly issued guidance to employers to take care before using popular algorithmic tools meant to streamline the work of evaluating employees and job prospects -- but which could also potentially run afoul of the Americans with Disabilities Act. "We are sounding an alarm regarding the dangers tied to blind reliance on AI and other technologies that we are seeing increasingly used by employers," Assistant Attorney General Kristen Clarke of the department's Civil Rights Division told reporters Thursday. "The use of AI is compounding the longstanding discrimination that jobseekers with disabilities face." Among the examples given of popular work-related AI tools were resume scanners, employee monitoring software that ranks workers based on keystrokes, game-like online tests to assess job skills and video interviewing software that measures a person's speech patterns or facial expressions.
The Almighty Buck

Wall Street Fund Wants To Hire r/WallStreetBets Users To Help Pick Meme Stocks (gizmodo.com) 27

An anonymous reader quotes a report from Gizmodo: Cindicator Capital is the kind of investment fund that relies on software and algorithms to model investment strategies based on any number of disparate factors. In the wake of the WallStreetBets subreddit throwing hedge funds into chaos and driving stock prices to non-sensical extremes, Cindicator has posted a job listing on LinkedIn hoping to hire one of the Redditors to conjure up some unintuitive data points.

The listing, for a Sentiment Trader, limits its search to applicants who have at least a year's active membership on WallStreetBets and at least 1,000 of Reddit's goodwill karma points. Job seekers should understand probabilities, but "higher education in economics or finance" is disqualifying. "In-depth knowledge" of the language of the finance world and its mechanisms is required. The rest of the listing gets more esoteric, saying prospects should display "unbiased thinking that defies authority," and they will spend most of their time "on Reddit, Discord chats, and Twitter to feel the pulse of the tens of millions of retail traders." Additionally, "a refined taste for memes and a sense of humour" is essential. The salary is $200,000 plus bonuses.

Government

Stockton Basic Income Program Extended. Is Support For the Idea Growing? (newyorker.com) 110

A $500-a-month basic-income program in Stockton, California will be extended through 2021 "in response to the economic strain put on participants by the coronavirus pandemic," reports the New Yorker: While the idea of extending the program had been under discussion even before the spread of COVID-19, Stockton's mayor, Michael Tubbs told me that current conditions made doing so a "moral imperative," as many participants have lost work, and those classified as essential workers face increased risk. "COVID-19 has put the focus on the fact that a lot of Americans live in constant moments of economic disruption, because the fundamentals of the economy haven't been working," he told me.... Tubbs first encountered the concept of a universal basic income, or U.B.I., while he was an undergraduate at Stanford, in 2009, in a course that covered Martin Luther King, Jr.,'s advocacy for the idea late in his life... Tubbs told me that he doesn't see a basic income as particularly radical but, instead, as "this generation's extension of the safety net," following in the path of things like Social Security, child-labor laws, weekends, and collective bargaining...

[D]uring the pandemic, the percentage of money that participants spent on food, consistently the largest category, reached nearly twenty-five per cent over the monthly average, while the amount spent on recreation dropped to less than two per cent. Participants have also put the money toward rent, car payments, and paying off debt, as well as one-off expenses for themselves or their children: dental surgery, a prom dress, football camp, and shoes. They've also been able to cut back on working second and third jobs; one participant, a forty-eight-year-old mother of two who works full time at Tesla, was able to stop working as a delivery driver for DoorDash. Alcohol and tobacco have accounted for less than one per cent of spending per month...

Jennifer Burns, a history professor at Stanford University, told me that the bipartisan support for [America's] Coronavirus Aid, Relief, and Economic Security Act marked a significant shift in thinking about cash transfers... Recent calls for U.B.I. have mostly come from Silicon Valley, where libertarian-leaning entrepreneurs embraced the concept as a quick fix for job losses due to increased automation. According to Burns, the current crisis has shifted the focus away from hypothetical disasters toward inequities that already exist. In her view, the automation argument is primarily a distraction, but "if worrying about A.I. helps people look around and think about what's already under way, that's good."

Stockton's goal "was always to promote the adoption of basic-income programs on a state or federal level," according to the article, and they're now being "flooded with requests for advice from pilot programs in development in other cities, including Seattle, Portland, Chicago, Newark, Nashville, and New Orleans."

Mayor Tubbs tells them its prospects as a federal program depend mostly on political will — since "This country has a history of finding ways to pay for things that we say matter."
Education

College-Educated Workers Are Taking Over the American Factory Floor (wsj.com) 159

An anonymous reader quotes a report from The Wall Street Journal: New manufacturing jobs that require more advanced skills are driving up the education level of factory workers who in past generations could get by without higher education, an analysis of federal data by The Wall Street Journal found. Within the next three years, American manufacturers are, for the first time, on track to employ more college graduates than workers with a high-school education or less, part of a shift toward automation that has increased factory output, opened the door to more women and reduced prospects for lower-skilled workers.

U.S. manufacturers have added more than a million jobs since the recession, with the growth going to men and women with degrees, the Journal analysis found. Over the same time, manufacturers employed fewer people with at most a high-school diploma. Employment in manufacturing jobs that require the most complex problem-solving skills, such as industrial engineers, grew 10% between 2012 and 2018; jobs requiring the least declined 3%, the Journal analysis found. [...] Specialized job requirements have narrowed the path to the middle class that factory work once afforded. The new, more advanced manufacturing jobs pay more but don't help workers who stopped schooling early. More than 40% of manufacturing workers have a college degree, up from 22% in 1991. Looking ahead, investments in automation will continue to expand factory production with relatively fewer employees. Jobs that remain are expected to be increasingly filled by workers from colleges and technical schools, leaving high-school graduates and dropouts with fewer opportunities. Manufacturing workers laid-off in years past also will see fewer suitable openings.
"At Pioneer Service, a machine shop in the Chicago suburb of Addison, Ill., employees in polo shirts and jeans, some with advanced degrees, code commands for robots making complex aerospace components on a hushed factory floor," reports The Wall Street Journal. "That is a far cry from work at Pioneer in the 1990s, when employees had to wear company uniforms to shield their clothes from the grease flying off the 1960s-era manual machines used to make parts for heating-and-cooling systems."
Education

The World's Top Economists Just Made the Case For Why We Still Need English Majors (washingtonpost.com) 169

An anonymous reader writes: A great migration is happening on U.S. college campuses. Ever since the fall of 2008, a lot of students have walked out of English and humanities lectures and into STEM classes, especially computer science and engineering. English majors are down more than a quarter (25.5 percent) since the Great Recession, according to data compiled by the National Center for Education Statistics. It's the biggest drop for any major tracked by the center in its annual data and is quite startling, given that college enrollment has jumped in the past decade. Ask any college student or professor why this big shift from studying Chaucer to studying coding is happening and they will probably tell you it's about jobs. As students feared for their job prospects, they -- and their parents -- wanted a degree that would lead to a steady paycheck after graduation. The perception is that STEM (science, technology, engineering and math) is the path to employment. Majors in computer science and health fields have nearly doubled from 2009 to 2017. Engineering and math have also seen big jumps. As humanities majors slump to the lowest level in decades, calls are coming from surprising places for a revival. Some prominent economists are making the case for why it still makes a lot of sense to major (or at least take classes) in humanities alongside more technical fields.
Businesses

Interns' Job Prospects Constrained By Noncompete Agreements (wsj.com) 179

Internships have long been an opportunity for inexperienced workers to try out different industries and build valuable contacts. For companies, it is a way to attract future talent. But increasingly interns are being asked to sign noncompete, nondisclosure and forced arbitration agreements, restrictions once reserved for higher-ranking employees [Editor's note: the link may be paywalled]. From a report: Advocates say legal covenants for interns help safeguard trade secrets such as customer lists in an era when it is easy to download information and share it, for instance on social media or with a competitor. But critics argue the agreements hamper young people's job opportunities and mobility even before they get a foot on the career ladder. [...] Ms. Dunne's [anecdote in the story] noncompete agreement stated that she couldn't work for a competitor in software or banking within 15 miles of Wilmington for a year after leaving TekMountain. Ms. Dunne said she was given the agreement on her first day. "I had no idea what I signed, they didn't explain it to me."

After leaving TekMountain, she did a separate three-month internship with nCino, a financial technology company in Wilmington. In a May 7 letter, TekMountain's parent, CastleBranch, laid out her obligations under the noncompete agreement, described the confidentiality of its proprietary information as "very serious," and asked for details about her relationship with nCino. Ms. Dunne said she didn't respond. The noncompete "eliminated a good portion of the companies in town in the industry I wanted to be in," said Ms. Dunne, who is relocating to the Washington, D.C., area for a new job. "I have to leave all of my friends behind and start over."

Technology

Is Your Email Address Holding You Back? (wsj.com) 354

Whether you're freelancing or on the job hunt, don't let a poorly conceived online handle limit your career prospects A quick glance at any group email confirms what recruiters and hiring managers know too well: Not everyone sheds their adolescent email addresses when they enter adulthood, instead maintaining allegiance to digital monikers based on the music, videogames and contraband they once held dear. From a report: Though rebranding yourself online can be a pain (as those who've been through the ordeal of changing their contact info know), the practice is often better for your career trajectory, said Chris Swanson, a career and college counselor at Bremerton High School in Washington state. "It's just like the idea that a handshake and eye contact makes a good impression. That's the first thing that comes across someone's desk." Even so, many Americans still use curious handles for professional exchanges, either by virtue of inertia or nostalgia or because they've never had an employer-issued handle and don't know any better -- they only know Dave Matthews rules.

[...] It might be ironic to send missives from @aol.com, but it doesn't suggest an exceedingly tech-savvy candidate. Actually, "It weirds me out," said Ms. Moore. "Why are you still using AOL? Gmail is definitely the winner." Don't even get her started on Hotmail. When updating a resume it's a good time to evaluate if an email address seems dated, especially if applying for a tech gig.

Education

Google, Apple and 13 Other Companies That No Longer Require Employees To Have a College Degree (cnbc.com) 224

The economy continues to be a friendly place for job seekers today, and not just for the ultra-educated -- economists are predicting ever-improving prospects for workers without a degree as well. From a report: Recently, job-search site Glassdoor compiled a list of 15 top employers that have said they no longer require applicants to have a college degree. Companies like Google, Apple, IBM and EY are all in this group. In 2017, IBM's vice president of talent Joanna Daley told CNBC Make It that about 15 percent of her company's U.S. hires don't have a four-year degree. She said that instead of looking exclusively at candidates who went to college, IBM now looks at candidates who have hands-on experience via a coding boot camp or an industry-related vocational class.

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