Human Times

North American Edition

16th March 2026

THE HOT STORY

U.S. job openings rise in January as layoffs decline

U.S. job openings increased in January while layoffs fell, suggesting labor demand improved at the start of the year even as broader signs point to a weakening job market. According to the Labor Department's latest JOLTS report, available positions rose to 6.95m from 6.55m in December, exceeding economists’ expectations, according to data from the Bureau of Labor Statistics. Layoffs declined to 1.63m, while the hiring rate remained unchanged. Gains in job openings were seen across several industries, including finance, health care, retail, and hospitality, with manufacturing openings reaching their highest level since mid-2024. Despite the rise in vacancies, hiring remained subdued and the number of unemployed people continued to exceed available jobs, indicating a relatively fragile labor market and supporting the Federal Reserve’s view that employment conditions are not currently fueling inflation.

Bloomberg

Market Watch

WORKFORCE

Proxy advisers warn Starbucks over risks from ongoing labor disputes

Starbucks is facing warnings from proxy advisory firms regarding potential financial and reputational risks linked to ongoing labor disputes with its U.S. union. Contract talks have stalled for over a year, but recent discussions are set to resume following a new proposal from the union. Analysts from Institutional Shareholder Services (ISS) raised concerns about the lack of board oversight on labor relations amid controversies such as strikes and a significant settlement over schedule stability violations in New York City. The dissolution of a labor relations oversight committee has drawn criticism, prompting calls from shareholder groups for increased accountability. Starbucks asserts that overseeing labor issues will now fall under the general board, and it believes this restructuring will enhance long-term shareholder value. Additionally, while union representation remains limited to about 6% of Starbucks locations, the company acknowledges ongoing challenges with labor relations, including historical strikes and their impacts on business.

Reuters

TRAINING & DEVELOPMENT

BlackRock pledges $100m to train skilled workers for infrastructure boom

BlackRock is committing $100m to fund training programs for skilled trade workers as part of its growing push into infrastructure investing. The initiative, called Future Builders, will support workforce development in fields such as plumbing, electrical work, HVAC, and ironworking by partnering with nonprofits and training organizations. The program aims to guide workers from pre-apprenticeship through licensing. The investment comes as the world’s largest asset manager expands its focus on private infrastructure projects, including data centers, energy systems, and transportation networks. BlackRock chief executive Larry Fink has argued that aging infrastructure and rising government deficits will require trillions of dollars in private investment in the coming years. Company research suggests demand for skilled tradespeople could exceed current training capacity, potentially slowing the construction of new infrastructure. BlackRock leaders say investing in workforce development is essential to ensure that large infrastructure projects can move forward.

Wall Street Journal

ECONOMY

U.S. economic growth slows sharply to 0.7% in fourth quarter

The U.S. economy grew at a 0.7% annual rate in the fourth quarter of 2025, sharply below the government’s initial estimate of 1.4%, with a 43-day federal government shutdown and weaker consumer spending weighing on activity. The Commerce Department said federal government spending and investment fell 16.7%, cutting more than one percentage point from growth. Consumer spending rose 2%, slower than the previous quarter’s 3.5%, while business investment increased 2.2%, supported partly by spending related to artificial intelligence. Exports declined 3.3%, further dragging on growth. For 2025 as a whole, the economy expanded 2.1%, slightly below earlier estimates and slower than 2.8% growth in 2024. Economists said the data suggest the economy lost momentum toward the end of the year, although the final estimate for fourth-quarter GDP will be released in April.

TECHNOLOGY

FedEx enhances its workforce with AI agents

FedEx is enhancing its workforce with AI agents, aiming for integration with over half of its core operations by 2028. The initiative responds to a broader global shift towards AI in business. Chief digital and information officer Vishal Talwar states that every employee and task will benefit from AI. The company is focused on establishing foundational data and management systems to support AI deployment, emphasizing compliance and responsibility. As logistical challenges persist, FedEx is consolidating its data sources and expects completion by 2027. The plan includes implementing a structured hierarchy for AI agents in marketing and operations, with ongoing training for employees to adapt to these changes. Despite these advancements, FedEx said it does not intend to replace human workers with AI.

The Wall Street Journal

REMUNERATION

Kohl's set to exceed its bonus payment targets

Kohl's Corp. is set to exceed its bonus payment targets this year, signalling progress in its turnaround efforts, as noted in a memo from Chief People Officer Mari Steinmetz. Despite stronger than expected sales forecasts for 2025, revenue has declined for four consecutive years. The bonuses, to be distributed in April, follow a challenging year marked by the firing of the previous CEO. The company continues to focus on enhancing proprietary brands and the shopping experience to attract value-conscious consumers. Kohl's shares have decreased by nearly 32% this year, highlighting ongoing challenges in a competitive retail landscape.

Bloomberg

TAX

Refund delays hit 830,000 taxpayers

This tax season, over 830,000 taxpayers have received notices from the IRS indicating delays in their tax refunds due to an executive order from President Donald Trump mandating electronic payments. The order aims to eliminate paper checks, which can lead to fraud and delays. House Ways and Means Committee members Danny Davis (D-IL) and Terri A. Sewell (D-AL) expressed their concerns, saying: "Effectively, the President, unilaterally through his Executive Order, is causing undue hardship on millions of Americans by delaying their paper refunds for months." Many taxpayers, particularly those unbanked or facing challenges, are affected, with some refunds delayed by over two months. Tax professionals like Tom O'Saben emphasize the importance of direct deposit to avoid these issues, noting that clients often prefer checks but are educated on the faster process of electronic payments.

Accounting Today

INTERNATIONAL

Morgan Stanley hires contract staff in Hong Kong amid deal surge

Morgan Stanley is hiring contract staff in Hong Kong for IPO due diligence amid a surge in stock listings. The move, which Reuters says is a ‌first for a Wall Street bank in the region, aims to control costs while meeting stronger demand in the Asian financial hub's ultra-competitive investment banking industry. "Their [contractors'] total package is significantly lower than a banker hired on permanent headcount. Morgan Stanley could spend less and take up more deals," a source said.

Reuters

Bundesbank scraps planned return to its historic headquarters

Germany’s Bundesbank has scrapped plans to move back into its headquarters in Frankfurt, despite spending €168m ($192m) on stripping asbestos from the historic office block. Germany's central bank said Wednesday it was abandoning a project to renovate the headquarters following intense criticism over costs that could spiral into the billions, and would instead move permanently to a new site. Bundesbank chief Joachim Nagel said an analysis had shown that purchasing a new building made more sense than going ahead with the overhaul. The decision was not easy, he said, observing that "many people - active and former colleagues, residents of the city and the country - have a connection to this building."

Barron's

France 24

Financial Times

Atlassian cuts 10% of workforce in pivot to AI

Atlassian, Australia’s largest listed technology company, is to cut 10% of its staff, or 1,600 employees, in response to the threat posed by AI to its operations. The Sydney-based company said it plans to "rebalance" its resources to focus on the "future of teamwork in the AI era." CEO Mike Cannon-Brookes said in a memo to staff: "Our approach is not 'AI replaces people.' But it would be disingenuous to pretend AI doesn't change the mix of skills we need or the number of roles required in certain areas. It does."

Financial Times

Reuters

China turns to AI to create new jobs and upgrade traditional roles

China is focusing on stabilizing employment as 12.7m graduates enter the workforce in 2026 by harnessing AI for job creation. Minister of Human Resources and Social Security Wang Xiaoping assured the public that stabilizing employment is a key priority for Beijing. “We are studying related policies to actively harness AI in creating new jobs and empowering traditional jobs, promoting inclusive development in which technological progress and improvements in people's livelihoods advance in tandem,” she said, adding: “We have the confidence and the capability to maintain overall employment stability and continue improving the situation.”

Straits Times

OTHER

Women judges lead the charge for justice

Women judges worldwide are addressing the gender justice gap, despite their under-representation in courts and tribunals. A U.N. Women report reveals that female involvement enhances the legitimacy and responsiveness of justice systems. In the small Pacific nation of Kiribati, women hold 38% of magistrate positions and 29% of legislative roles. Ruth Cross Kwansing, Kiribati's Women's Minister, said: "When women hold the gavel, the law begins to see women too." She pointed to the need for inclusive justice systems to build equitable societies, especially in the face of climate change challenges that affect women disproportionately.

Daily Mail

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