🎉 Historic wage increases!

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Good Afternoon Party People! 🎉

The latest at the Olympics (by gold medal count):

1. China (11)

2. France (8)

3. Japan (8)

4. US (7)

5. Australia (7)

PARTY PLAN 🎉

⚡ JOLTS jobs report

💸 Historic wage increases

👀 Return to office is causing…what?!

And, of course, MEMES!

MEME OF THE DAY

LABOR MARKET

The Latest JOLTS Report

The June Job Openings and Labor Turnover Survey (JOLTS) report provided some bad news for people hoping to see stability in the labor market (via Indeed Hiring Lab).

Here are all the key points from the report:

• Job openings held steady - 8.2 million open roles at the end of the month.

• Hiring and quit rates continued trending down from already relatively low levels (not good).

• Hiring rate is now the lowest it’s been since March of 2020.

• The layoff rate dropped to 0.9%, which is an all-time low for the JOLTS report.

Overall: job openings remain steady, fewer people are getting hired, and fewer people are getting laid off or quitting.

Good for people with jobs, tough scene for job seekers.

PAY DATA

Historic Wage Increases!

After months of negotiations that nearly led to a strike, thousands of Disneyland workers just secured a 31% raise.

(Maybe we all should go on strike more often)

Four Disney unions representing 14,000 workers recently voted to strike after months of stalemate negotiations.

The strike would have been the first one at the park in LA in 40 years.

Thankfully, the happiest place on earth will remain fully operational after both sides reached an agreement to increase the minimum wage from $19.90 to $26 over the next three years, with an immediate increase to $24/hour.

The new contract also provides more flexible schedules and sick leave policies. Tenured workers will receive an even larger bonus in pay. Increases in the deal will be retroactive to June 17.

Sweet deal.

Union members held rallies outside of entrances and passed out buttons to guests showing Mickey Mouse’s hand in clenched in a fist.

In July, a federal mediator joined the negotiating table right after 99% of workers voted to authorize a strike.

The last Disneyland strike happened in 1984 when 2,000 employees walked out for 22 days.

In a statement, Disney said they’re proud of the deal and they are "focused on what matters most to our cast members while positioning Disneyland Resort for future growth and job creation.”

RTO

Return to Office is Causing WHAT?!

A new study published by DatingNews.com has led to quite possibly the weirdest work story of the year.

According to the study, Gen Z women have gotten significantly “hornier” in return to office work. Yes, that’s a real headline.

Don’t shoot the messenger (us). We’re just sharing interesting stories.

Overall, about 46% of Americans surveyed said they’ve experienced an increase in sexual desire since returning to the office, while 40% said they experienced a decrease.

The number was highest among Gen Z females, with 56% of them saying their sex drive has increased since returning to the office. In other, unrelated, news - record numbers of single men are applying for in-person jobs, and many are requesting to ditch their work-from-home schedules since the study was published.

Ok, that last part about men isn’t true. As far as we know at least.

There ya have it.

STAT OF THE DAY

85% of hiring managers said that cover letters remain at least “somewhat influential” in hiring decisions, according to a recent survey of HR pros via cvgenius.

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