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Good morning<\/strong>. Happy post-Labor Day! This is the time of year when hiring is supposed to pick up, and Friday\u2019s job report did show U.S. employers adding 162,000 jobs in August, 98% of which went to women. Much of the job growth was in lower-wage sectors like food service and home health care, and the Bureau of Labor Statistics expects total employment to grow only 3.5% between 2025 and 2035, down from the prior decade\u2019s 10.9% rate. My conversations with CEOs about jobs elicit less optimism and more concerns about skills gaps, low engagement, the leadership pipeline, uncertainty about AI, and pressure to cut costs. Here\u2019s what a few are doing about it.<\/p>\n Investing in skilled trades.<\/strong> BlackRock is investing $100 million in skilled trade training programs; it\u2019s also partnered with Ford, Carhartt and Alphabet on the Alliance for America\u2019s Skilled Trades. (More information on that here.) Meta has partnered with CBRE and other groups on a five-week program that guarantees a job upon completion. Matthew DiCanio is president and incoming CEO of Concentra, a national health care company that conducts employment screenings. He told me last week that he\u2019s seeing \u201cwhite-collar jobs shrinking slightly and blue-collar jobs picking up speed.\u201d While trade schools are becoming more popular, most parents continue to push their kids towards four-year colleges, the annual cost of which can now surpass $100,000. But they\u2019re favoring public or elite institutions, as I did with my kids. (The opportunity to think, forge deep friendships, and explore are more important than ever.)<\/p>\n Employee engagement.<\/strong> Fewer than a third of employees are engaged in their jobs, with Gallup reporting that more than half of U.S. workers now report significant daily stress. As Gallup CEO Jon Clifton recently told me, \u201cwork makes people unhappy because we\u2019re not focused on the things that really matter.\u201d What does matter? Trust is a motif that emerges in our surveys of top employers in partnership with Great Place to Work, as does purpose. But tangible signals matter. Workers want pay that keeps pace with inflation, which is not happening as real wages have fallen for four months in a row. And benefits matter. Earlier this summer, one CEO talked about implementing a new T&E system that deprived employees of the right to get personal loyalty benefits from travel. \u201cPeople started refusing to go on trips\u201d or demanded compensation in other ways, he said. \u201cWe underestimated the hit to morale.\u201d\u00a0<\/p>\n Leadership pipeline. <\/strong>As ADP CEO Maria Black points out, AI should be a teammate that increases the value of judgement and other leadership skills. But the data shows that AI is also decreasing entry-level jobs, which impacts the ability to develop those skills. Voya Financial CEO Heather Lavallee thinks about that a lot. As Lavallee told me: \u201cIf you\u2019re relying too much on automation and AI for some entry-level jobs, how do you create future experts?\u201d She\u2019s focused on bringing in talent of all ages while investing in training and mentorship. People learn best on the job. But CEOs of U.S. public companies spend an average of 8.5 years in the top job, where they\u2019re rewarded for cutting costs, not building up the bottom of the pyramid. The federal government is doing more to incentivize apprenticeship programs, as are different states. But the most direct route is for companies to hire and train more Gen Z workers.<\/p>\n Contact CEO Daily via Diane Brady at diane.brady@fortune.com<\/em><\/p>\n Tech leaders\u2019 pay jumps on AI demand<\/b><\/p>\n Median compensation for executives with \u201ctechnology\u201d in their title <\/span>rose<\/span> about 45% from 2021 to $2.6 million in the latest fiscal year. That\u2019s more than the increase for CEOs, COOs, CFOs, and CIOs combined.<\/span><\/p>\n Wall Street expects a Fed rate hike<\/b><\/p>\n Traders <\/span>put<\/span> the odds of a 25-basis-point rate hike at roughly 58% ahead of the Federal Reserve\u2019s Sept. 16 meeting after August employment data showed the U.S. added 162,000 jobs and unemployment held at 4.1%. The shift conflicts with President Donald Trump\u2019s calls for lower rates, putting pressure on Kevin Warsh\u2019s Fed as inflation remains above the central bank\u2019s 2% target.<\/span><\/p>\n AI leaders meet protesters at G20<\/b><\/p>\n At a G20 event in North Carolina, tech leaders, including Sam Altman and Jensen Huang, <\/span>promoted<\/span> AI and the need for more data centers while hundreds of protesters outside raised concerns about water use, energy consumption, and other potential consequences. Data-center resistance has spread nationwide, with 142 demonstrations in 42 states in July and two-thirds of Americans opposing a facility in their own community, according to an Economist\/YouGov poll.<\/span><\/p>\n S&P 500<\/b> futures are down 0.40% this morning. The last session closed down 0.38%. <\/span>The<\/b> STOXX Europe 600<\/b> was down 0.59% in early trading. <\/span>The U.K.\u2019s FTSE 100<\/b> was down 0.18% in early trading.<\/span> The Nikkei 225 <\/b>was down 1.70%. <\/span>South Korea\u2019s KOSPI <\/b>was down 0.58%. <\/span>China\u2019s CSI 300 <\/b>was down 0.36%.<\/span> Hong Kong\u2019s Hang Seng<\/b> was down 0.38%.<\/span> India\u2019s NIFTY 50 <\/b>was down 0.55%. <\/span>Bitcoin<\/b> is down at $78k.<\/span><\/p>\n OpenAI\u2019s AI agents secretly used a German wiki website as a message board. OpenAI stayed quiet about it for weeks<\/span> by Beatrice Nolan<\/span><\/p>\n This billionaire founder made his first million at 27\u2014years before Warren Buffett. His advice to Gen Z: Don\u2019t ask for a raise, ask for equity<\/span> by Orianna Rosa Royle<\/span><\/p>\n Exclusive: Ineffable Intelligence adds six \u2018cofounders,\u2019 hiring veterans from Google DeepMind, InstaDeep and venture firm Flying Fish<\/span> by Jeremy Kahn<\/span><\/p>\n \u2018Uncharted territory\u2019: The $40 trillion U.S. national debt just got uglier as interest payments rise to $1.25 trillion a year<\/span> by Sasha Rogelberg<\/span><\/p>\n Asian family philanthropy is \u2018a lot more hands-on\u2019\u2014and more corporate\u2014than the West<\/span> by Nicholas Gordon<\/span><\/p>\n CEO Daily is curated and edited by Joseph Abrams, Jason Ma, Claire Zillman, and Lee Clifford.<\/p>\n<\/div>\n #real #jobs #problem #CEOs #isnt #hiring<\/p>\n","protected":false},"excerpt":{"rendered":" Good morning. Happy post-Labor… <\/p>\n","protected":false},"author":1,"featured_media":4068,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[1555,559,1259,546,537,812,62],"class_list":["post-4067","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","tag-ceo-daily","tag-ceos","tag-hiring","tag-isnt","tag-jobs","tag-problem","tag-real"],"yoast_head":"\n\nTop leadership news<\/h3>\n
The markets<\/h3>\n
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