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1 Million More Jobs Avail > People Out of Work
The US job market data suggests a gap of more than a million between people considered out of work and job openings.
While there are around 9.8 million job openings in the country, the estimate for people considered out of work is 8.7 million.
The employers are deploying a diverse set of incentivizing mechanisms to fill up these positions, including signing bonuses, higher salaries, and flexible working arrangements.
A survey, aimed at studying how far US employers are willing to go to entice workers, shows that 41% of the employers are offering enhanced benefits, such as medical and pharmacy benefits, legal services and identity theft protection, discount programs, pet insurance, etc.
While medical and pharmacy benefits, used by 71% of the employers, ranks at the top of the list of incentives, as many as 19% of the employers are using less-explored enticements, such as pet insurance.
Another 27% of employers are willing to use this incentive in the next two years.
Many factors are playing a role in keeping people away from immediately searching for jobs.
While the unemployment benefits are serving as financial cushions for many, people are also concerned about child care, the spread of the delta variant, among other things.
Saudi State Oil Giant Aramco Reports 288% Increase in Net Income
In the second quarter of this year, Aramco’s net income rose to $25.5 billion, while it maintained its dividend of $18.8 billion.
Higher prices and a recovery in worldwide demand for oil helped the Saudi state oil company achieve this phenomenal growth. The Q2 net income of Aramco even crossed the analysts’ estimate of $24.7 billion.
Overall, Aramco ended the first half of the year with a net income of $47.2 billion, more than double the $23.2 billion recorded in the first half of 2020.
The company cited several factors as drivers of this growth, including the global easing of Covid-19 restrictions, vaccination campaigns, stimulus measures, and an increase in activity across key markets.
Along with net income, Aramco saw an increase in free cash flow compared to the same period of the previous year.
For instance, in Q2 2021, the free cash flow was 22.6 billion, a significant rise from Q2 2020s $6.1 billion.
Aramco had ended its first half of 2020 with a free cash flow of $21.1 billion, whereas this year, it reached $40.9 billion.
Last Day Wins Bring US back at the Top of the Olympics Medal Chart
On the final day of the Tokyo Olympics, the US teams won several gold medals to overtake China and become the country with the maximum number of medals.
While the US stood first with 39 gold medals and 113 total medals, China won 38 gold medals and a total of 88 medals. Japan, with 27 gold medals and 58 total medals, stood third.
The ascent to the top for the US contingent was specifically exciting on the final day as the US women’s basketball team won its seventh consecutive gold, beating Japan.
The US women’s water polo team won its third gold in a row, while the women’s volleyball team won its first. Out of the 113 medals won by the US in total, 66 were won by the US women’s team.
Aerospace Startup Raises $60 Million
Hermes is an aerospace startup based in Atlanta that raised $60 million in funding from the US Air Force to continue developing its reusable Mach 5 aircraft.
The aircraft, named Quarterhouse, will validate two technologies of Hermes. The first is its turbine-based combined cycle engine, and the second is its autonomous driving technology.
Along with the funding, the US Air Force Research Laboratory would also help the startup with logistical and technical support.
If Hermes becomes successful in testing both its technologies, it would become the fastest reusable aircraft in the world.
Hermes was founded in 2018, and since then, it has been backed by major government institutions, such as NASA and the Air Force. The startup has managed to raise more than $76 million in funding to date.
AROUND THE WEB
🤔 WhatsApp Won’t Follow Apple: Whatsapp boss Will Cathcart has made it clear that it won’t adopt any surveillance system as has been done by Apple to combat the spread of child sex abuses.
🔥 Democrat Senators Introduce Pro-Crypto Amendments: Mark Warner and Kyrsten Sinema, both Democrats and senators from Virginia and Arizona, have introduced a new amendment to the infrastructure bill to lessen the burden on cryptocurrency tax reporting for miners and wallet providers.