TIME Careers & Workplace

These Are the 50 Best Places to Work for 2015

Based on analysis by Glassdoor, a website where employees post anonymous reviews of their companies

Glassdoor, a website that allows employees to post anonymous reviews of their offices, has released its annual list of the best places to work in the U.S. for 2015. Google is at the top, and it is also at the top of the U.K. version of this ranking (a new section this year).

The website only includes companies with more than 1,000 employees and at least 50 “approved” reviews for this report. Ratings come from reviews provided by employees who participated in a survey that was conducted between November 13, 2013 and November 2, 2014. Each overall ranking is based on the “quantity, quality and consistency of reviews,” according to a statement.

Glassdoor

LIST: 5 of the Best Companies for Working Moms

LIST: Best Places to Live 2014

Read next: The 25 Absolute Best Workplaces in the World

TIME Apple

Alabama to Vote on ‘Tim Cook’ Bill Barring Discrimination Against Gay Employees

Apple CEO Tim Cook speaks at the WSJD Live conference in Laguna Beach, Calif., Oct. 27, 2014.
Apple CEO Tim Cook speaks at the WSJD Live conference in Laguna Beach, Calif., Oct. 27, 2014. Lucy Nicholson—Reuters

Apple CEO Tim Cook "honored" to lend his name to the bill

Alabama lawmakers plan to name an anti-discrimination bill after Apple’s chief executive Tim Cook, who disclosed in a magazine essay last October that he was gay.

The ‘Tim Cook’ bill will bar discrimination against gay, lesbian, bisexual and transgender state employees, including school teachers, Reuters reports.

Alabama’s only openly gay state lawmaker, Patricia Todd, told Reuters that she originally posed the name in jest, but it gained traction in the media and eventually reached Apple’s executive suite. A statement from Apple confirmed that Cook was “honored” to have his name attached to the bill.

The statement came after a company official reportedly called Todd to express reservations, a position that was later reversed by Apple’s general counsel.

“I never in a million years would have expected it,” Todd said.

Read more at Reuters.

MONEY Jobs

Why It’s Still Hard to Find the Job You Really Want

workers at construction site
Don Mason—Gallery Stock

The U.S. economy is adding jobs at a surprisingly fast pace. They just might not be the ones you want.

The U.S. added 321,000 new jobs in November, according to the Labor Department. Although unemployment remained unchanged at 5.8%, the new jobs number beat most economists’ estimates. The strong results follow news on Tuesday that the economy grew at a 3.9% clip in the third quarter. Combined with the preceding period, that represents the fastest six-month expansion in more than a decade.

And yet the job market still feels sluggish for many middle-income job seekers, or those looking for a job that’s better than what they’ve got now.

The problem is that the post-recession economy is still better at producing marginal jobs—think retail and food service gigs—than the comparatively well-paying construction, manufacturing, and government jobs that let middle-class people buy homes and support their families.

That’s led to what some call a “low-wage recovery.” As recently as August, the National Employment Law Project, a labor group, calculated that 41% of job growth in the previous year was in low-wage industries, compared with just 26% in middle-wage industries.

A look at Friday’s numbers suggests that dynamic starting to change, but slowly.

The U.S. added 50,000 more retail jobs in November. There were also 27,000 additional jobs in bars and restaurants.

That kind of growth outpaced growth in sectors like construction, which added 20,000 jobs, and government, which added just 7,000. One bright spot was manufacturing. Economists have long warned this sector, hobbled by trends like automation and competition from low wage countries, isn’t ever likely resume it’s former stature. It’s been making something of comeback nonetheless: 28,000 manufacturing jobs were created in November.

Moody’s Analytics economist Ryan Sweet argues the jobs picture will steadily improve for middle income workers. On Thursday, he forecast construction hiring would continue to show gains in 2015 and 2016, driven in part by the housing market, where supply is getting tight again—Moody’s Analytics recently estimated rental vacancy rates at 20-year lows. Meanwhile, steadily improving GDP should replenish state and local tax coffers, allowing governments to start hiring again. Even Detroit, one of the recession’s biggest victims, has seen its prospects improve. Pointing to low oil prices, Sweet cited a forecast that automakers could sell 17 million cars next year.

These are all the kinds of trends you’d expect to see in a recovery—the surprise is how many years it has taken to get to this point.

 

TIME Retail

Inside Starbucks’ Radical New Plan for Luxury Lattes

An employee pours milk into a cardboard coffee cup inside a Starbucks Corp. coffee shop in London on June 9, 2014.
An employee pours milk into a cardboard coffee cup inside a Starbucks Corp. coffee shop in London on June 9, 2014. Bloomberg/Getty Images

Your Starbucks is about to change radically—get ready for $6 coffee

If there is a retail proxy for America, it must be Starbucks. The company has 12,000 stores in the US, doing 47 million transactions per week, serving 70 million unique customers. One in eight people found a Starbucks card in their Christmas stocking last year. So when Starbucks founder and CEO Howard Schultz says something about consumers, people tend to listen. (Indeed, everyone from President Obama to the heads of major investment banks have been known to ring him for a cup by cup read on the state of the economy.)

At the company’s biannual investor conference this week, Schultz gave his take on the state of the recovery in the US. While Schultz is bullish, laying out some robust growth targets for his company, he also said, “We are living at a time when the world is very fragile, and that effects consumer confidence.” Just like the overall economy, Starbucks is bifurcated—stores in some affluent cities are doing more business than ever, while others have yet to spring back from the last several years of crisis and recession.

What’s more, the way people are shopping is changing profoundly. According to Schultz, the “seismic shift” in consumer spending from bricks and mortar retail outlets to online shopping that the company first noted last year has become “a tidal wave.” That’s going to change the entire nature of retail and public spaces. As Schultz put it, “I wouldn’t want to be a mall operator five to ten years from today,” referencing the fact that foot traffic in malls and in Main Street shopping areas throughout the country is way down from last year.

The problem is, that’s where most Starbucks today are located. Solution: a whole new approach to stores that mirrors this new economy. Just as fashion brands have “haute” couture and mass market lines, Starbucks will now have luxury “reserve” stores, and many more express kiosks, mobile coffee trucks and all kinds of specialized retail outlets purpose built for specific spaces. Think luxe roadside coffee pit-stops, or “hammerhead” shaped drive through outlets made out of used cargo containers that will sit in the entrance to highways or on small silvers of land near a bowling alley or another local attraction.

The idea will be to make Starbucks a destination in and of itself, one that’s not so dependent on foot traffic. “People are still longing for connection, and a sense of community, perhaps more so now that they are spending more time at their computers, or working from home,” says Schultz. But in order to preserve the “third place,” Schultz says the company will increasingly have to offer “experience, rather than just a product.”

On Dec. 5, Schultz debuted part of the new strategy—his first flagship “Roastery,” a 15,000 square foot space in Capitol Hill, Seattle that is both a coffee roasting facility, and a consumer retail outlet. The place is to coffee what FAO Schwartz is to toys or Dover Street Market is to fashion—retail theatre. You can watch beans being roasted, talk to master grinders, have your drink brewed in front of you in multiple ways, lounge in a coffee library, order a selection of gourmet brews and locally prepared foods. (The entire store is crafted from Made in America materials, by regional artisans.) The architecture says “niche” not mass, as does the merchandise—copies of the New Yorker are scattered alongside top of the line espresso machines and bags of reserve beans marked with their crop year.

Schultz calls it his “Willy Wonka factory of coffee,” and it speaks to the fact that in retail, as in nearly every aspect of the economy these days, there seems to be two directions—up, or down. At the Roastery, a latte made from beans cut and roasted in front of you only minutes before can cost more than $6 bucks. And the truth is that they could probably charge a lot more. There’s little price sensitivity for the upscale consumer these stores—and the smaller “Reserve” stores inspired by the flagship, which will be coming to a town near you in 2015—will target.

In America these days, there are two kinds of people: those that can buy lattes, and those who make them. Schultz is endeavoring to change both their lives.

Read next: How to Win Free Starbucks for Life

TIME Demographics

4 Ways Millennials Have It Worse Than Their Parents

millenial money
Adrian Samson—Getty Images

The latest Census numbers show Americans aged 18 to 34 struggling worse than their parents did in the '80s

Millennials make less money, are more likely to live in poverty and have lower rates of employment than their parents did at their ages 20 and 30 years ago.

That’s the bleak assessment from the U.S. Census Bureau’s latest American Community Survey numbers Thursday, which paint a financially disheartening portrait of Americans aged 18 to 34 who are still trying to rebound from the Great Recession.

The survey largely shows that millennials are worse off than the same age group in 1980, 1990 and 2000 when looking at almost every major economic indicator:

1. Median income
Millennials earned roughly $33,883 a year on average between 2009 and 2013 compared with $35,845 in 1980 and $37,355 in 2000 (all in 2013 inflation-adjusted dollars).

(MORE: American Women are Waiting to Have Kids)

2. Leaving home
More than 30% of millennials live with at least one parent compared to about 23% in 1980, largely because they can’t get a job.

3. Employment
Only about 65% of millennials are currently working compared with more than 70% in 1990

4. Poverty
Almost 20% live in poverty compared with about 14% in 1980.

But it’s not all bad news. The new Census numbers show that young Americans are much more diverse and educated than previous generations. About 22% have a bachelor’s degree or higher (up from 16% in 1980), and a quarter have grown up speaking a language other than English at home (up from 10% in 1980).

And possibly the most interesting statistic in the new numbers? A little over 2% of those aged 18 to 34 are veterans, compared with almost 10% in 1980.

Read next: Millennials Are Mooches…and Other Money Myths

TIME

Applications for US Jobless Aid Jump to 313,000

The increase is unlikely to raise concerns about the broader health of the job market

(WASHINGTON) — The number of people seeking U.S. unemployment benefits jumped last week, pushing total applications above 300,000 for the first time in nearly three months.

The Labor Department says weekly applications rose 21,000 to a seasonally adjusted 313,000, the highest level since the first week of September. The four-week average, a less volatile measure, rose 6,250 to 294,000.

The increase is unlikely to raise concerns about the broader health of the job market. At least some of the rise occurred because of seasonal layoffs in businesses affected by the cold weather, such as construction. The department seeks to control for such seasonal factors but doesn’t always do so perfectly.

Applications had been under 300,000 for 10 straight weeks, an unusually low level that indicates companies are laying off few workers.

MONEY Jobs

Why The Lowest Paid Workers Are Getting a Raise—And The Middle Class Isn’t

"Save the Middle Class" on a sign
Jen Grantham—iStock

Low-wage workers are making more money, but wages continue to stagnate for the middle-class. Here's why.

If you’re a working adult, you probably haven’t received much of a raise in recent years. Earnings growth has declined dramatically since 2007, and wages bounced back only 2% this year, barely keeping pace with inflation. In October, wage growth was essentially static.

But we may be seeing light at the end of the tunnel, at least for some employees. Over the weekend, payroll processing firm ADP released data showing that the average hourly pay for low-wage workers — that is, those making less than $20,000 a year — increased by 5.4% in the last year, and that workers earning between $20,000 and $50,000 saw pay jump 4.9% on average.

As USA Today noted on Sunday, ADP’s methodology tends to overestimate earnings growth because it tracks only employees of businesses that can afford to contract with the company. The firm also reported that earnings for all Americans were up 4.5% in the third-quarter year-to-date; more than double the increase was reported by the Bureau of Labor Statistics in October for 2014.

But while ADP may have overestimated earnings growth among low-wage Americans, that doesn’t mean that group isn’t getting better raises than the rest of the population. The paper also observed that data from the BLS showed the bottom 10% of earners received a 3% hike in wages for the year ending on September 30, compared to a 0.5% raise for the 90th percentile.

Why do low-wage workers seem to be getting raises when the middle-class is not? According to Eugenio Alemánm, a senior economist at Wells Fargo, the answer is employment polarization. As the St. Louis Federal Reserve explains, this phenomenon describes how the automation of many routine tasks has decreased demand for middle-skill, middle-income labor, while increasing demand for both low-skill, low-wage workers and high-skill, high-wage workers. This trend was exacerbated by the great recession, and resulted in a hollowing out of the American labor force.

Higher wages for low-skill workers simply reflects higher demand for that particular class of laborer. High-wage employees have also seen a disproportionate increase in earnings during the recession compared to the middle-class.

“One of the characteristics of the current economic recovery is that we are seeing a lot of jobs in the very, very low levels of income, very low paying jobs, and very strong movement in the high paying jobs,” said Alemánm. “Those are the two sectors that seeing some upwards pressure on wages and this data is a confirmation of that.”

“Middle income jobs are not being offered in this economic recovery, so there is no pressure on those salaries,” added Alemánm. “The type of jobs that are being offered today”—which he says mainly exist in the leisure, hospitality, and retail industries—”are not conducive to having middle-income earners.”

Will the middle-class ever see some relief? Alemánm says yes, recent job growth is likely to exert upward pressure on wages across the board — but it’s hard to tell when that will happen for the majority for workers. “At some point, it has to change,” he predicts. “You’ll see some spillovoer into middle-income wage earners. That is the third leg we are waiting for.”

TIME Economy

2 in 5 Young Americans Don’t Want a Job

Mid adult man sitting on sofa using computer game control
Kathleen Finlay—Image Source/Getty Images

Analysis shows increase in the percentage of teenagers and twenty-somethings outside the labor force

Nearly 40% of people in the United States ages 16 to 24 say that they don’t want a job, accounting for a sizable portion of the 92 million Americans who are currently outside the labor force, according to a new analysis of labor statistics.

The figures do not include young people who aren’t working, but are actively seeking employment. About 10% of Americans aged 20 to 24 and 19% of those aged 16 to 19 are considered unemployed, which means they are actively seeking work.

According to Pew Research Center analysis of Bureau of Labor Statistics data, 39.4% of men and women aged 16 to 24 are outside the labor force over the first 10 months of 2014. That’s up from 29.5% in 2000, the steepest rise of any age group and one that pre-dates the recent financial crisis.

The U.S. unemployment hit 5.8% last month, the lowest number since 2008.

MONEY Jobs

The U.S. Added 214,000 Jobs In October, Unemployment Down Slightly to 5.8%

commuters at rush hour
iStock

The results beat expectations, but didn't quite match September's employment growth.

The economy added 214,000 jobs in October, according to the Bureau of Labor Statistics, meeting expectations of continued healthy job growth.

Today’s nonfarm payroll report also showed the unemployment rate declining slightly to 5.8%, down almost a full percentage point since the beginning of the year. That’s the lowest level since 2008, but is still well above its pre-crisis low of 4.4%.

The labor force participation rate — the percentage of the workforce that is either employed or actively looking for work — remained around 62.8%, reflecting older Americans dropping out of the workforce roughly as fast as new workers enter.

Once again, increased employment did not significantly raise average hourly earnings, which increased by three cents since last month’s report and by just 2% since the beginning of the year. Despite relatively stagnant wage growth, economists are optimistic the economic recovery will soon be felt in workers’ wallets. “If unemployment continues to fall, wage growth should pick up,” says Mark Hamrick, Washington bureau chief for Bankrate. “It’s like waiting for a bus that hasn’t arrived yet.”

While today’s news is good, it doesn’t quite match up with September’s employment growt, when the economy added almost 250,000 jobs.

This week’s midterm elections, in which Republicans took over both houses of Congress, could have an effect on future employment growth, but any impact won’t be immediate. The G.O.P. has been critical of the Federal Reserve’s low interest rates, and may now be more vocal its opposition to loose monetary policy. Fed chair Janet Yellen, however, a vocal supporter of using low interest rates to help promote job growth, acknowledged the improving labor market after the latest Fed meeting but indicated that she and her fellow Fed economists remained concerned about sluggish wage growth, low inflation, and the tenuous housing market recovery.

 

MONEY Jobs

Don’t Count on Raises Despite Friday’s Jobs Report

Person popping balloon
Getty Images—Getty Images

Despite more Americans finding employment, workers shouldn't expect any big changes in their paychecks just yet.

Workers can be forgiven if they don’t rejoice in Friday’s jobs report.

Employers added 214,000 jobs in October, pushing the unemployment rate down to 5.8%. This is another sign the U.S. economy is starting to get on a roll.

Businesses have added an average of around 230,000 jobs a month since January, when the unemployment started off at 6.6%. Stocks have been hitting all-time highs. And the Federal Reserve just announced that it was ending the third round of its stimulative bond-buying program thanks in part to the fact that the labor market has been improving.

Despite these positive trends, though, there still remains significant slack in the labor market. Millions of discouraged workers who want a job have given up looking — or are working part-time when they prefer full-time employment.

Moreover, the long-term unemployed are still much less likely to find a job now compared to before the 2007-2009 recession, and employees still don’t feel confident enough about their situation to quit their job in search of a high paying one. Meanwhile the unemployment rate lags the pre-recession low by more than a percentage point.

This might help to explain why Americans are still so pessimistic about their personal finances.

Almost three in four Americans think the economy was permanently damaged by the Great Recession, according to research by Rutgers University, which is actually more pessimistic than right after the recession. Moreover, only 37% say their finances are good or excellent shape, per recent Pew Research Center data.

Workers also understand that whatever raises they do get probably won’t outpace inflation. Take the Employment Cost Index, which measures workers salaries and benefits. Before the recession, the ECI rose at a year-over-year rate of more than 3% for about two years. Since 2009, though, the ECI hasn’t jumped above 2.2% (which, to be fair, was last quarter.)

fredgraph

And while the Fed did decide to end its bond-buying — otherwise known as quantitative easing — short-term interest rates remain essentially at zero, with expectations of a small hike potentially put off until well into 2015. By keeping rates so low for so long, the Fed is essentially signaling that consumer demand just isn’t there. Yet consumer demand is an essential ingredient in the recipe for gaining raises.

“We didn’t hear anything that causes us to reconsider our outlook that the Fed will follow a ‘lower for longer’ course when it comes to interest rates,” wrote USAA’s John Toohey in a recent note. “The U.S. recovery from the 2008–09 financial crisis has been slow and at times fragile, so our thinking is that the Fed will not want to risk a setback by raising rates too quickly. What is ending now is the third round of QE since late 2008; after the first two wrapped up, economic gains soon stalled. The Fed has not forgotten this.”

This jobs report seems to be another brick in the slow rebuild of the U.S. economy following the disaster of six years ago. It is encouraging that the Fed feels the economy is strong enough to chug along without it pumping billions of dollars into the financial system each month.

But workers should remember how big a hole we’ve needed to climb out of. Millions are still struggling to get by, or even get a job. And without strong bargaining power, or full employment, workers shouldn’t expect a raise anytime soon.

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