Latest Economic Indicators & Market Trends
Global Workforce Movements
Legislative Updates on DEI & Immigration
Curated Reading Recommendations
Industry Events & Resources
Stay informed, stay ahead.
📊 Key Indicators 📊
📊 Key Indicators 📊
🍁 Canada:
Unemployment Rate: 6.60% in February 2025 (remaining unchanged from January).
Inflation Rate: 2.60% (a jump from 1.9% in January).
Interest Rate: The Bank of Canada cut its key interest rate by 25bps to 2.75% in its March decision.
🍎 United States
Unemployment Rate: 4.1% in February 2025 (up from 4.0% in January).
Inflation Rate: 2.8% in February 2025 (eased from 3.0% in January).
Interest Rate: The Fed kept the federal funds rate unchanged at 4.25%-4.5% during its March 2025 meeting, in line with expectations.
🔔 Global Workforce News 🔔
🔔 Global Workforce News 🔔
Overall Market Impact in the US
U.S. employers announced 172,017 layoffs in March 2025, marking a 245% increase from January and the highest monthly count since July 2020. Nearly 100 companies announced job cuts in March 2025. The tech industry specifically has reported 205 layoffs in 2025, affecting 41,989 people.
Financial Services Sector
Deutsche Bank Job Cuts: Deutsche Bank has announced plans to cut approximately 2,000 jobs in its retail banking division throughout 2025, including over 100 senior managers across retail and private wealth divisions.
Morgan Stanley Job Cuts: Morgan Stanley has announced plans to cut approximately 2,000 jobs, representing about 2.5% of its global workforce. The layoffs, scheduled for late March 2025, will impact various divisions across the firm, excluding its 15,000 financial advisers, and are primarily performance-based and location-based.
Technology & Digital
IBM Workforce Reduction: IBM has announced plans to cut approximately 9,000 jobs across the United States in 2025, with significant impacts across multiple divisions including Cloud Classic, consulting, corporate social responsibility, and internal IT systems, with a significant portion of the affected roles expected to shift to India.
Block (Square) Workforce Reduction: The fintech company Block is cutting 931 employees, representing 8% of its workforce. These layoffs are part of a major restructuring effort, notably not driven by financial reasons or AI replacements.
Manufacturing & Automotive
Siemens Workforce Reduction: The manufacturing giant Siemens is cutting 5,600 employees globally in its automation and EV charging businesses. This represents one of the largest single layoff announcements in the manufacturing sector.
Audi Workforce Reduction: Audi has announced plans to cut up to 7,500 jobs in Germany by the end of 2029, with 6,000 positions to be eliminated by 2027 and an additional 1,500 by 2029. The cuts will primarily affect areas including administration, sales, and development at Audi's German sites.
Emerging Markets & Startups
Ola Electric Job Cuts: The electric vehicle company Ola Electric is reportedly planning to lay off over 1,000 employees and contractors, marking their second round of cuts in five months.
HelloFresh Distribution Center Closure: HelloFresh is laying off 273 employees with the complete closure of its Texas distribution center, indicating challenges in the meal kit delivery industry.
💼 Workplace Transformation 💼
- Amazon Promotion Policy Overhaul: Amazon has announced significant changes to the company's promotion policy, shifting focus from team size to efficiency and impact. The new policy emphasizes that building large teams will no longer be the primary path to advancement, instead prioritizing leaders who can achieve more with fewer resources.
UBS Hybrid Work Policy Update: UBS has implemented new restrictions to its hybrid work policy, requiring its 115,000 global employees to be present in the office for at least three days per week, with a specific mandate that either Monday or Friday must be an in-office day.
📜 Legislative Updates 📜
United States | Equal Pay Day: Equal Pay Day was observed on March 12, 2024, marking how far into the new year women must work to earn what men earned in the previous year. This continues to be a significant focus area for HR professionals across North America.
United States | Guidance on "Illegal DEI": The Equal Employment Opportunity Commission (EEOC) and Department of Justice (DOJ) have jointly issued new technical assistance documents on DEI initiatives on March 19, 2025, causing employers to reassess their programs to ensure compliance.
Canada | Express Entry System Points Removal: The Canadian government has announced the removal of bonus Comprehensive Ranking System (CRS) points for candidates with valid job offers in the Express Entry immigration system, effective March 25, 2025, and no specific end date has been provided.
📚 Monthly Reading Picks 📚
📚 Monthly Reading Picks 📚
Unforgettable Presence by Lorraine K. Lee
Gain practical frameworks for developing key skills such as prospection, cognitive flexibility, and social connection, crucial for employee success in an increasingly uncertain business landscape. |
Wild Courage: Go After What You Want and Get It by Jenny Wood
This book by former Google executive Jenny Wood challenges traditional career wisdom with fresh perspectives. It promotes authentic leadership approaches and provides actionable strategies for career advancement.
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This book by former Google executive Jenny Wood challenges traditional career wisdom with fresh perspectives. It promotes authentic leadership approaches and provides actionable strategies for career advancement. |
🔥 Practical Resources 🔥
🔥 Practical Resources 🔥
🎙️ Upcoming Webinars
1. The AI+HI Project
🕗 Time: April 9-10, 2025
📍 Location: San Francisco, United States
📌 Focus: Hear from the change makers, engage with the people who are actually driving AI adoption within their organizations.
2. WorldatWork Total Rewards Conference
📅 Date: May 5-7, 2025
📍 Location: San Diego, United States
📌 Focus: Latest trends in compensation strategies, benefits management, and total rewards programs. Essential for compensation and benefits professionals.
3. SHRM 2025 Annual Conference & Expo
📅 Date: June 29 - July 2, 2025
📍 Location: San Diego, United States
📌 Focus: Comprehensive HR development with 375+ expert-led sessions covering all aspects of human resources management. Available in both in-person and virtual formats.
📊 Must-Read Reports
1. 2025 Global Human Capital Trends (Deloitte)
📝 Focus: Balancing control and empowerment in leadership, managing stability versus agility, automation and human augmentation strategies, business and human outcomes optimization.
2. March 2025 Workforce Report (iCIMS)
📝 Focus: Labor market analysis, tech talent hiring trends, market uncertainty impacts, hiring strategy recommendations.
3. Q2 2025 Employment Outlook Survey (ManpowerGroup)
📝 Focus: Global hiring trends, 41-country analysis, industry-specific forecasts, regional employment patterns.