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The Health and Human Services Department will lay off 10,000 employees, the Trump administration announced on Thursday, as part of a major reorganization designed by Health Secretary Robert F. Kennedy Jr. https://nyti.ms/4j9qrPL
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When Starbucks announced last month that it was laying off more than 1,000 corporate employees, it highlighted a disturbing trend for white-collar workers: Over the past few years, they have seen a steeper rise in unemployment than other groups, and slower wage growth. It also added fuel to a debate that has preoccupied economists: Are the recent job losses merely a temporary development? Or do they signal something more ominous and irreversible? After sitting below 4% for more than two years, the overall unemployment rate has topped that threshold since May. So, how worried should white-collar workers be?
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