But the promise of career growth is helping hotels hire.Food and hotel businesses must compete with remote jobs, fast-food chains, and delivery companies.The accommodation and food services sector had nearly 1.5 million job openings as of January, according to seasonally adjusted numbers from the U.S. Despite a recent jump in the hospitality sector’s hiring, hotels and restaurants are still understaffed.The percentage of job postings on the online hiring platform Wizehire emphasizing career-development programs has increased to 8% from 2% pre-pandemic.“There’s still a lot of turnover, but it’s been more successful for us this way,” one leader said. Prospective housekeepers appreciated that they could go from cleaning rooms to running housekeeping or managing a hotel. The solution? The company created a career-development program with cross-department training and leadership workshops. One hotel operator boosted wages for some positions by more than 30% but was still short-staffed.Short-staffed hotels are getting creative about filling open roles by offering advancement opportunities for housekeepers and front-desk workers.We’ll learn on Wednesday whether the Fed intends to push forward with rate hikes or whether the recent bank failures force it to pause. Despite those efforts, the Fed’s campaign to raise interest rates to tame inflation has exposed weaknesses in the balance sheets of regional banks, rattling investors and raising fears that deposits aren’t safe.In the past 10 days, federal regulators have used an emergency measure to guarantee the deposits of Silicon Valley Bank and Signature Bank, initiated a new Federal Reserve program to make sure other banks could secure funds to meet the needs of their depositors and coordinated with 11 big banks that deposited $30 billion into First Republic.Yellen added: “The situation is stabilizing. The comments come as government officials contemplate additional options to stem the flows of deposits out of small and medium-sized banks.
Yellen said recent federal actions after the failure of Silicon Valley Bank and Signature Bank were intended to show the Biden administration was dedicated to protecting the system’s integrity and that deposits were secure.“And similar actions could be warranted if smaller institutions suffer deposit runs that pose the risk of contagion.” Yellen said in prepared remarks to be delivered to the Washington meeting of the American Bankers Association, the industry’s leading lobbying group. “Our intervention was necessary to protect the broader U.S.financial system faces its worst turmoil in over a decade. She expressed confidence in the nation’s banks, seeking to calm nerves as the U.S. Treasury Secretary Janet Yellen pledged that the Biden administration would take additional steps to support the banking system.
Ready to Protect Banks ( NYT ) Explained:
0 kommentar(er)
