Starting salaries for newly minted college graduates are lower almost across the board as a result of the economic fallout from Covid-19.
However, some entry-level positions in tech still pay near six figures, according to new data from Glassdoor.
Some entry-level job offers and internship opportunities are being rescinded, another survey found.
Those armed with a newly minted college diploma are entering the worst U.S. job market in modern history, with unemployment spiking to levels not seen since the Great Depression.
Detroit — The coronavirus pandemic is proving to be yet another obstacle for the self-driving and ride-sharing movement, delaying the widely touted arrival of next-generation automotive technology.
Ford Motor Co. is postponing for a year the commercial deployment of its autonomous vehicles. Waymo LLC, the self-driving unit of Google parent Alphabet Inc., had to temporarily suspend its on-road testing and its ride-hailing offerings in Arizona. Uber Advanced Technologies Group recently announced layoffs of 3,500, citing the pandemic. And General Motors Co. is shutting down Maven, the car-sharing service that debuted in 2016 as the wave of the future.
With demand for car-sharing and ride-sharing diminishing sharply in the age of social-distancing and other forms of vigilant hygiene, companies are shifting their focus to using driverless vehicles to deliver goods before they ferry people — a reversal of a robo-taxi future envisioned just a few years ago, courtesy of the virus that causes COVID-19.
Expensive electrification programs that have yet to create revenue for automakers, however, continue despite automakers losing billions with auto plants closed for eight weeks and many dealerships unable to sell vehicles with stay-at-home orders in place during the pandemic. Still, the prevailing industry consensus holds that electric vehicles must be an option for consumers, and electrified powertrains are the foundation of self-driving vehicles and future mobility technologies.
The office is critical now for engagement, innovation and experience–and cannot go away.
We’re in the midst of the most significant reinvention of work in our time. We’ve proven people can work anywhere and the greatest social experiment—sending everyone home to do their work—has decimated barriers to working away from the office.
Some contend people are working with a reasonable level of productivity from home. And this is during arguably the worst-case situation for remote work: Being forced to work from home without choice, experiencing stress about the pandemic, sharing space with spouses or partners who are furloughed or also trying to work from home and finding time to educate children who would normally be at school—all of these create challenging conditions. Even so, people are getting work done—and could probably perform even better from home when the coronavirus abates, children go back to school and employees can return to a more typical way of life.
Scott Galloway, lecturer in Marketing at New York University, speaking at the DLD (Digital-Life-Design) conference in Munich, Germany, 18 January 2016.
An NYU professor of business surmises that because of the effects of the coronavirus, anywhere from one-quarter to almost one-half of universities in the nation may go out of business in the next five to ten years. NYU professor Scott Galloway also admitted that foreign students paying full tuition are the “cash cow” for universities and “might decide not to show up.” He commented, “What department stores were to retail, tier-two higher tuition universities are about to become to education and that is they are soon going to become the walking dead.”
Speaking with Hari Sreenivasanon on PBS’ “Amanpour and Co.,” Galloway spoke of the impact of the coronavirus on colleges and universities, forcing them to hold their classes over the internet, and how that may catalyze flight from the universities and the universities’ subsequent downfall. Galloway stated, “Students I think across America along with their families listening in on these Zoom classes are all beginning to wonder what kind of value, or lack thereof, they’re getting for their tuition dollars … There’s generally a recognition or disappointment across America, and I would argue that it’s not that they’re disappointed in the Zoom classes, it’s more the recognition that Zoom has uncovered how disappointing college education is. I think there’s a lot of households saying, ‘This is what we’re paying for?’”
“All the world’s a stage, and all the men and women merely players.” — William Shakespeare
Audiences still want what audiences want: content, community and connections. There are seven ways businesses can deliver what their audiences want through live events delivered virtually.
What happens when that stage no longer has a jumbotron, special effects, and a state-of-the-art sound system? How do you amplify your pitch and your prospects when front row, center stage seats go virtual? While the context has shifted, the demand for events that create connections and convert leads into sales haven’t.
“Audiences still want what audiences want: content, community and connections,” reminds Bari Baumgardner, an event planning veteran and founder of SAGE Event Management. “The question is how to deliver what audiences want through live events delivered virtually.” To stage a performance that leaves your audience wanting more – and results in revenue and raving fans – create a backdrop for success with these leading practices.
Remote working has meant many people are skipping their morning commute.
COVID-19 has lead to more and more employees working from home.
98% of people surveyed said they would like the option to work remotely for the rest of their careers.
But not everything is positive, with workers finding the biggest challenge is ‘unplugging’ from work.
According to the U.S. Census Bureau, nearly one-third of the U.S. workforce, and half of all “information workers”, are able to work from home. Though the number of people working partially or fully remote has been on the rise for years now, the COVID-19 pandemic may have pressed the fast-forward button on this trend.
With millions of people taking part in this work-from-home experiment, it’s worth asking the question – how do people and companies actually feel about working from home?
A OneLogin survey covered how employees are using work devices for a variety of other things.
The transition to working from home has been rocky for millions of people as they adjust to transitioning workplace policies into the privacy of their own home. According to a new report from cybersecurity firm OneLogin, people are using work devices for much more than work, even after they’ve had accounts or passwords compromised.
The company’s 2020 COVID-19 State of Remote Work Survey Report features a global survey of 5,000 employees who started working remotely since the outbreak of COVID-19.
Of those surveyed, 30% have had a corporate device breached and only 10% changed the password afterwards. Half of organizations globally have not established cybersecurity guidelines regarding remote work according to the survey and US remote employees use work devices to access adult entertainment sites more than any other country.
Half of UK respondents had not changed their home Wi-Fi password in the last two years, compared with 36% overall, and 25% never changed their password while 45% of US workers have given their work passwords to their child or spouse, compared to 13% in the UK and 9% in France.
Amid the horrifying loss of jobs brought on by the Covid-19 pandemic, there has been one countervailing force: an urgent demand for medical and technology professionals to return to work from retirement or a career break.
Returning physicians and nurses, along with technologists proficient in the “ancient” COBOL coding language that many states still use in processing unemployment claims, are helping society — and this has put these “relaunching” professionals in the spotlight. More than ever before, they are being embraced and brought back to work as fast as they can make themselves available.
More moms are working from home than ever before in history. Without child care and school, it’s been a struggle. But many are also realizing that pursuing their careers while being present with their kids has its benefits, too.
Prior to the COVID-19 pandemic, this was rare: An estimated 7% of employers offered permanent work-from-home options. Today, mid-crisis, that number has exploded to 57%. While the transition was ugly and disruptive, employers are now warming up to the idea, and some are making work-from-home options permanent.
On a large scale, this shift would have dramatic impacts on the economy, the workforce, real estate, the environment, and more. It would also be a game changer for working moms.
Twitter, Facebook among companies that will allow employees to work remotely moving forward
Coronavirus causes ‘big movement’ out of New York City: Moving company president
Roadway Moving President Ross Sapir says more people are leaving New York City for nearby states or southern states, like Florida and Texas.
Coronavirus-related work-from-home policies at the country’s biggest technology companies appear to have caused an exodus from Silicon Valley, which has sent rent prices in San Francisco plummeting.
Rents for a one-bedroom apartment in the major metro area were down 9.2 percent in June when compared with the same period last year, according to data from rental site Zumper. That is the largest decline since at least 2015 and brings the price point ($3,360) down to where it was three years ago.
In the U.S. overall, one-bedroom rents fell by just 0.2 percent. No other major metro city’s data came close to the decrease in San Francisco.
Ten weeks ago, Jesse Damiani, writing on Forbes.com, told the story of a college professor who turned his course about XR into a research project about remote collaboration and virtual conferences.
“This semester, Chapman University offered an experimental class called “Landscape of Emerging Media” through Dodge College, Chapman’s school for film and media studies. Taught by Charlie Fink, it was intended to introduce students to the XR industry, including conversations with entrepreneurs, pioneers, and artists. (Disclosure: Fink is also a Forbes Contributor).
Then, the Coronavirus pandemic struck, forcing universities nationwide to reimagine how courses would be taught—namely, to bring course instruction into an online format. But where most of these courses rely on video-conferencing through platforms like Zoom, Fink used the premise of the course to address the needs of the moment.
A potential housing crisis is brewing in some dense, overpriced housing markets as new work trends come into play.
Recent data on housing shows that sales remain strong, with only a small drop in prices.
However, longer-term trends are likely to lead to significant drops in today’s high-priced markets.
The shift towards a remote workforce will correct housing imbalances in markets that otherwise may have gone unsolved.
Many have feared a repeat of the 2008 housing crisis this year as the economy shut down. So far, however, signs indicate that the overall market is holding up well.
