U.S. employers added just 22,000 jobs last month as the labor market continued to cool under uncertainty over President Donald Trump’s economic policies.The Labor Department said Friday that hiring decelerated from 79,000 in July and came in below the roughly 80,000 economists had expected for August. The unemployment rate ticked up to 4.3%, also worse than expected and the highest level since 2021, the Labor Department reported Friday.When the department put out a disappointing jobs report a month ago, an enraged President Donald Trump responded by firing the economist in charge of compiling the numbers and nominating a loyalist to replace her.Talking to reporters Thursday night at a dinner with wealthy tech executives, Trump had seemed to shrug off whatever hiring numbers would come out Friday. “The real numbers that I’m talking about are going to be whatever it is, but will be in a year from now,” the president said.Factories shed 12,000 jobs in August, the fourth straight month that manufacturers have cut payrolls. Construction companies cut 7,000 jobs, and the federal government 15,000.Labor Department revisions cut 21,000 jobs off June and July payrolls and revealed that employers had actually cut 13,000 jobs in June, the first monthly job losses since December 2020.The U.S. job market has lost momentum this year, partly because of the lingering effects of 11 interest rate hikes by the Fed’s inflation fighters ve in 2022 and 2023 and partly because Trump’s policies, including his trade wars, have created uncertainty that leaves managers reluctant to make hiring decisions.“The warning bell that rang in the labor market a month ago just got louder,’ Olu Sonola, head of U.S economic research at Fitch Rates, wrote in a commentary. “It’s hard to argue that tariff uncertainty isn’t a key driver of this weakness.”Workers’ average hourly earnings rose 0.3% from July and 3.7% from August 2024, exactly what forecasters expected. The year-over-year figure is nearing the 3.5% that many economists see as consistent with the Federal Reserve’s 2% inflation target.The weak numbers make it all but certain that Federal Reserve will cut its benchmark interest rate at its next meeting, Sept. 16-17. Under chair Jerome Powell, the Fed has been reluctant to cut rates until it sees what impact Trump’s import taxes have on inflation.Trump has repeatedly pressured Powell to lower rates, and has sought to fire one Fed governor, Lisa Cook, over allegations of mortgage fraud in what Cook claims is a pretext to gain control over the central bank.The Labor Department reported Thursday that the number of Americans applying for unemployment benefits a proxy for layoffs rose last week to the highest level since June, though the number of claims remained within a healthy range.The outplacement firm Challenger, Gray & Christmas said Wednesday that U.S.-based employers have announced more than 892,000 jobs cuts this year through August, more than the 761,000 reported for all 12 months of 2024.After seeing the weak July jobs numbers, Trump fired Erika McEntarfer, head of the Bureau of Labor Statistics, baselessly claiming the hiring report had been rigged to hurt him politically.He has nominated a partisan idealogue, E.J. Antoni, to replace her. But for now, pending Antoni’s confirmation by the Senate, the jobs report is in the hands of the acting BLS commissioner, William Wiatrowski, a career Labor Department official.Economists and others familiar with how the jobs numbers are collected have expressed confidence that Labor Department procedures will keep the data are safe from political interference.The revisions are standard practice, and necessary because many companies surveyed by the government submit their responses late or correct what they’ve already sent in.Government economists are also contending with a big drop in the share of companies that respond to the surveys. A decade ago, about 60% of companies surveyed responded. Now only about 40% do.And it’s an international problem for data collectors, especially since COVID-19. The United Kingdom even suspended publication of an official unemployment rate because of inadequate responses.“I remember being at an international conference where the chief statistician of the Russian Republic was complaining about how the Russians don’t want to complete their surveys,” William Beach, BLS commissioner from 2019 to 2023, said in an interview last month. “What could he do? If you can’t compel completion in Russia, you can’t compel it anywhere.”
Paul Wiseman, AP Economics Writer
Broadcom is ending the week on a high note.
On Thursday, September 4, the semiconductor and infrastructure software company announced its third-quarter financial results, including $15.95 billion in revenue.
This figure was a 22% jump year-over-year (YOY) and beat Wall Streets predicted $15.83 billion, according to consensus estimates cited by CNBC. Broadcom anticipates this streak to continue, announcing an expected $17.4 billion in revenue for quarter-four, up from Wall Streets prediction of $17.02 billion.
Broadcom also beat estimates for earnings per share, coming in at $1.69 adjusted, rather than $1.65 expected.
‘Demand for custom AI accelerators’
Unsurprisingly, the artificial intelligence boom factored heavily into Broadcom’s results.
Revenue growth was driven by better-than-expected strength in AI semiconductors and our continued growth in VMware, Broadcoms president and CEO, Hock Tan, said in an earnings call. Demand for custom AI accelerators from our three customers continued to grow.
However, Broadcom also announced that its bringing a fourth very significant customer into the mix.
The mystery customer has ordered $10 billion worth of custom AI chips or XPUs. These should ship early next year, with Broadcom expecting a significant improvement to its fiscal 2026 AI revenue from its previous estimations.
These positive announcements culminated in Broadcoms stock price (Nasdaq:AVGO) rising more than 15% after-hours and into premarket trading on Friday. Its a big turnaround from earlier this week when Broadcoms shares fell 2.1% alongside a 2.3% dip by fellow chipmaker, Nvidia.
Last month, Apple also named Broadcom as one the suppliers its working with to accelerate American manufacturing.
As the cost of electricity outpaces inflation and summers grow deadlier, consumer advocates are sounding alarms about the risks to low-income people who can’t afford consistent air conditioning in dangerous temperatures.While about half of U.S. states offer protections from utility shutoffs during extreme heat, the rest do not. In contrast, 41 states have “cold weather rules,” which forbid utility companies from shutting off household heat during extreme cold. The Low Income Home Energy Assistance Program (LIHEAP) provides funds for vulnerable groups who have trouble affording heating bills in the winter, but the program has less funding available to meet consumers’ increasing needs in the summer months.Shylee Johnson, 27, based in Wichita, Kansas, saw firsthand the protection that the local Low Income Energy Assistance Program (LIEAP) brought to her community during the three years she worked as a case manager for families who were behind on utility bills.“It was amazing at keeping people’s electricity on in the winter,” she said of the program, which subsidizes costs for households who can’t afford utility expenses. “Families would be deciding between paying their heating bill or another bill, and this took that decision away.”In the summer, though, Johnson said she’s seen how late or missed utility payments can result in the shutoff of electricity and the removal of vital services, despite air conditioning becoming increasingly essential to families’ health and well-being.“It’s terrifying,” she said. “There’s a ‘cold weather rule’ in freezing temperatures, your heat can’t be turned off. But there isn’t an equivalent for summer in Kansas.”The clients Johnson served were often the most vulnerable, including families with young children, pregnant people, and those with sick or disabled family members, including some who need electricity to operate essential medical equipment in their homes. LIHEAP also sometimes provides air conditioning units in the summer for households that can’t afford to purchase their own units.Recent studies show that extreme heat in the summer is now the leading cause of weather-related deaths, according to the U.S. Environmental Protection Agency (EPA). That’s ahead of deaths due to extreme cold in the winter or other weather emergencies, like hurricanes or tornadoes. The frequency, duration and intensity of extreme heat waves has significantly increased over the past several decades, according to the EPA, and insignificant support for low-income households contributes to the danger.In 2023, the death certificates of more than 2,300 people who died in the summer mention the effects of excessive heat, the highest number in 45 years of records, according to an Associated Press analysis of Centers for Disease Control and Prevention data. And that figure is only a fraction of the real death toll, according to coroner, hospital, and ambulance records, also analyzed by the AP.Nationally, the cost of electricity has risen at twice the pace of the average cost of living, exacerbating the problem.According to the National Energy Assistance Directors Association (NEADA), which represents state program managers of LIHEAP, almost 20% of very low-income families lack consistent access to cooling. Currently, 26 states and the District of Columbia offer assistance with summer energy bills, while 21 states plus D.C. have policies protecting low-income families from utility disconnections during summer months.Still, roughly 85% of LIHEAP resources are used for heating in the winter, leaving little support for households seeking cooling, according to Mark Wolfe, executive director of NEADA.“Rules that were written thirty years ago, that were adequate for winter, are not adequate for the summer,” he said. “How do we protect vulnerable households both during periods of extreme heat and extreme cold? The rules haven’t caught up.”Karen Lusson, senior attorney at the National Consumer Law Center who focuses on energy and utility affordability, said that many deaths from extreme heat in the summer months are preventable.“The impression we’ve all had is that weather is most dangerous in the wintertime,” she said. “Not any more.”While the Trump administration fired the entire staff of the LIHEAP program in April, Wolfe and Lusson are hopeful Congress will approve slightly more funding for the program in the fall compared to the previous fiscal year, they said.To protect households during increasingly hotter summers, Lusson recommends individuals seek information about their rights when it comes to utility shutoffs. State utility commissions, which regulate public utilities, dictate local rules. To find your relevant commission, consult the government site operated by the national association of regulatory commissions, which has a state-by-state look-up tool.Lusson also encourages people to look into whether their state protections are calendar- or temperature-based, which can make a difference in planning. While some states forbid shut-offs during certain months of the year, others base the protections on the temperature of a given day or the presence of a heat advisory. This LIHEAP site has a break-down of every state’s policies.Some state attorney generals’ offices also have public utility bureaus that advocate on behalf of consumers, Lusson said.Lastly, it can be helpful to determine if your utility company offers discount rates or percentage-of-income payment plans to help with electricity bills. Both commission and utility websites have specific information about how to access LIHEAP assistance and whether or not the utility company itself offers assistance.
The Associated Press receives support from Charles Schwab Foundation for educational and explanatory reporting to improve financial literacy. The independent foundation is separate from Charles Schwab and Co. Inc. The AP is solely responsible for its journalism.
Cora Lewis, Associated Press
Italian fashion designer Giorgio Armani’s work spanned the worlds of celebrity, fashion and power. His death announced Thursday at age 91 has elicited an outpouring of tributes.
Ralph Lauren
“I have always had the deepest respect and admiration for Giorgio Armani, not only as a designer who never strayed from his vision, but as a man who loved his family and friends, and his homeland in such a special way. Though he was an icon of the world of fashion, he lived with great humility and a love of living that inspired the way he worked and the way he lived. He created a world reflecting all the things he loved with a foreverness that will be his legacy.” the American designer, in a statement to The Associated Press.
Anna Wintour
“Giorgio Armani had such a clear force of personality and vision that you knew his work instantly, wherever you found it. He understood power and attitude and elegance as well as anyone ever has in fashion, and he understood women too: how they wanted to dress and what message they wanted to send as they asserted themselves through his rise in the ’70s, ’80s, and beyond. He also never confined himself to one field or one discipline, and understood that fashion can’t exist in a silo. For him fashion wasn’t one thing: It was also film, music, sport, art, design, and architecture, and he left his mark in all these worldsand everywhere he went.” the chief content officer for Condé Nast, in a statement.
Mira Sorvino
“I still can’t believe it. I mean, I was just told like 20 minutes ago that he had passed and I did not even know he was in ill health. And I did not think of him as that old, you know. For me, he was like eternal this brilliant, kind man who was so talented and created this whole kind of sophisticated, understated glamour that really defined the ’90s in a way. And he discovered me at the Venice Film Festival when “Mighty Aphrodite” premiered there and asked if I could, if he could dress me. And he started dressing me then. I wore his beautiful designs to most of my most important moments in my career and in my personal life. I will really miss him and I think the world will miss him.” the actor, in an interview with The Associated Press, recounting how Armani made her a retro-glam Oscar dress and her wedding dress.
Jessica Chastain
“Mr. Armani was such a visionary. Family is very important to him. His friends were very important to him. He was such an incredible artist. And his legacy will go on and on, through the beautiful thing he’s created.” the actor, in an interview with AP, recounting that she met her husband Gian Luca Passi de Preposulo at an Armani fashion show in Paris in 2012.
Leonardo DiCaprio
“Giorgio Armani was a visionary whose influence reached far beyond design. I first met him many years ago in Milan and I remember being blown away by his creativity and genius. He was a legendary force who inspired generations, and his legacy will continue to shape and uplift the world for years to come.” the actor, on his Instagram story.
Donatella Versace
“The world lost a giant today. He made history and will be remembered forever.” the Italian fashion designer, on Instagram.
Julia Roberts
“A true friend. A Legend.” the actor, adding a broken heart emoji, on Instagram.
Morgan Freeman
“On screen and off, in quiet moments and on the grandest stages, I have had the honor of wearing Armani. Today, we remember a man whose genius touched many lives and whose legacy of grace and timeless style will endure.” the actor, in a statement.
Charles Leclerc
“A great honour to have had the chance to meet and work with such an amazing person. You will be missed Giorgio.” the Ferrari F1 driver and an Armani ambassador, on Instagram.
Giorgia Meloni
“Giorgio Armani leaves us at 91 years old. With his elegance, sobriety, and creativity, he was able to bring luster to Italian fashion and inspire the entire world. An icon, a tireless worker, a symbol of the best of Italy. Thank you for everything.” the Italian prime minister, across her social media accounts and originally posted in Italian.
Victoria Beckham
“The fashion world has lost a true legend in Giorgio Armani a visionary designer whose legacy will live on forever. I feel honoured to have called him a friend.” the English fashion designer and former Spice Girl, on Instagram.
Russell Crowe
“Giorgio. 1997 at the Cannes film festival, after my bag was lost in transit, LA Confidential producer Arnon Milchan sent me to the Armani store with a credit card to get a suit for the premiere. That began a love affair with Armani suits that continues to this day. Mr. Armani has made a deep contribution, to fashion, to design, to popular culture. His energy, vision and finesse has made a mark acknowledged around the globe. I adored him. He was so kind. So many significant moments in my life, awards, wedding, Wimbledon all in Armani. I have been looking forward to seeing him, plans were in place for Milan at the end of this month. Alas What a life he had, from his beginnings to his glory.” the actor, on X.
Samuel L. Jackson
“Thank you, Mr. Giorgio Armani, for your countless years of friendship, collaboration and dedication to your visionary craft. May God bless you as you are welcomed into eternal peace.” the actor, on Instagram.
Valentino Garavani
“I mourn someone I have always considered a friend, never a rival. I can only bow to his immense talent, to the changes he brought to fashion, and above all, to his unwavering loyalty to one style: his own.” the Italian designer behind Valentino, on Instagram.
Cindy Crawford
“Heartbroken to hear about the passing of a legend. A true master of his craft.” the supermodel, on Instagram.
Diane Von Furstenberg
“Goodbye and rest in peace. Caro Giorgio! You have touched so many people with your elegance and will continue to inspire forever.” the Belgian designer, on Instagram.
Michelle Pfeiffer
“I am heartbroken to hear of Mr. Armanis passing. Kind, generous and loyal. A true pioneer of elegance. A global inspiration. And today, a massive loss for all. Thank you for everything Mr. Armani, it was an honor and privilege to ork with you on so many momentous occasions in my life and to witness your craft firsthand.” the actor, on Instagram.
Diane Kruger
Incredibly saddened to hear about the passing of Giorgio Armani. One of the nicest people and mentors I was lucky enough to meet and work with. Thinking about Roberta and his family and everyone who worked with him. the actor, on Instagram.
Associated Press
World shares rose Friday after U.S. stocks climbed to a record as Wall Street made its final moves ahead of an update on the American job market that could clear the way for cuts to interest rates that investors love.In early European trading, Germany’s DAX index added 0.2% to 23,815.68, while Britain’s FTSE 100 rose 0.3% to 9,246.59. In Paris, the CAC 40 edged up 0.1% to 7,707.13.The future for S&P 500 rose 0.3% while that for the Dow Jones Industrial Average was up 0.1%.In Tokyo, the Nikkei 225 added over 1% to 43,018.75 after data released Friday showed Japan’s labor cash earnings rose 4.1% year-on-year in July, up from 3.1% in June. Another report showed household spending climbed 1.4% in July from the same month a year ago, marking growth for the third month in a row.President Donald Trump also signed an executive order Thursday implementing the U.S. trade deal with Japan negotiated in July, with lower tariffs on Japanese car imports.“Solid wage growth is likely to support recovery in spending and sustainable inflation,” ING Economics said in a commentary, adding Friday’s data reinforces its expectation that the Bank of Japan will hike rates in October.Chinese markets rebounded after three days of decline. Hong Kong’s Hang Seng index jumped 1.5% to 25,434.93, while the Shanghai Composite index added 1.2% to 3,812.51.South Korea’s Kospi edged up 0.1% to 3,205.12, and Australia’s S&P/ASX 200 rose 0.5% to 8,871.20.Taiwan’s Taiex jumped 1.3%, while India’s BSE Sensex bucked the trend, falling less than 0.1%.On Wall Street on Thursday, the S&P 500 added 0.8% to top the all-time high it set last week. The Dow Jones Industrial Average rose 350 points, or 0.8%, and the Nasdaq composite gained 1%.Stocks got some lift from easing pressure from the bond market, where Treasury yields fell following the latest reports on the U.S. job market to come in worse than economists expected. One report suggested employers, not including the government, nearly halved their hiring in August from the prior month. Another said that more workers applied for unemployment benefits last week in an indication of rising layoffs.Neither number is flashing a recession, and a third report on activity for businesses in the information and other services industries showed stronger-than-expected growth.The upside for investors of a slowdown in the job market is that it could push the Federal Reserve to cut its main interest rate for the first time this year at its next meeting in a couple weeks. Such cuts can kickstart the economy and job market, though they can also accelerate inflation.So far this year, the Fed has kept its main interest rate on hold because it’s been more worried about inflation potentially worsening because of Trump’s tariffs than about the job market.A more comprehensive report on the job market’s health during August will arrive Friday from the U.S. Labor Department and it will likely carry much weight with the Fed. Ahead of it, the yield on the 10-year Treasury fell to 4.16% from 4.22% late Wednesday.In other dealings Friday, benchmark U.S. crude lost 38 cents to $63.10 per barrel. Brent crude, the international standard, slid 32 cents to $66.67 per barrel.The U.S. dollar slipped to 148.14 Japanese yen from 148.40 yen. The euro rose to $1.1682 from $1.1654.
AP Business Writer Stan Choe in New York contributed to this report.
Teresa Cerojano, Associated Press
Investors in athletic apparel maker Lululemon Athletica are seeing red this morning after the company reported its second-quarter fiscal 2025 results.
While the athleisure brand surpassed Wall Street earnings estimates for the quarter, it provided guidance that alarmed its investors. Heres what you need to know about that guidance and why Lululemon’s stock (Nasdaq: LULU) is crashing.
Lululemon Q2 results by the numbers
After the closing bell yesterday, Lululemon reported its Q2 results for fiscal 2025, which ended on August 3, 2025.
On the surface, the company had some modest wins for the quarter. The highlight was the companys international net revenue, which increased 22%. International comparable sales increased 15%, and gross profit increased 5% to $1.5 billion.
The company also posted diluted earnings per share (EPS) of $3.10. As noted by CNBC, these results handily beat LSEG analyst expectations of an EPS of $2.88.
Yet its the companys Americas numbers, which include the United States, where cracks have begun to show. Despite strong international net revenue and comparable sales increases, net revenue in the Americas increased by just 1%. And Americas comparable sales decreased 4%.
These Americas results offset a substantial number of the significant gains that Lululemon saw internationally for the quarter, and reduced its global net revenue increase to just 7% (to $2.5 billion). Global comparable sales increased just 1%.
In total, Lululemon posted revenue for the quarter of $2.53 billion, slightly behind the $2.54 billion analysts expected.
But those results arent primarily what have investors spooked. Rather, Lululemon’s guidance for its 2025 full fiscal-year earnings and revenue appears to have shaken investor confidence.
Impact of de minimis exemption expiration and Trumps tariffs
Along with its Q2 earnings, Lululemon updated its full-year earnings and revenue guidance for fiscal 2025.
In terms of 2025 revenue, Lululemon said it expects to take in between $10.85 billion and $11 billion for its fiscal year.
That range is below the $11.18 billion that Wall Street analysts were expecting. However, the revenue shortfall doesnt seem to be the main thing driving LULU shares lower this morning. That would be the companys revised full-year earnings outlook for 2025.
Now Lululemon says it expects diluted earnings per share to be between $12.77 and $12.97. That is well below what Wall Street analysts were expecting, which CNBC says was an EPS of $14.45 per share.
Why did Lululemons guidance fall so sharply?
Blame two Trump-fueled policy shifts: tariffs and the end of the de minimis exemption.
As Lululemon noted in its earnings release, The guidance for 2025 includes an estimated reduction in gross profit of approximately $240 million, net of currently anticipated mitigation efforts, including vendor savings, and pricing actions, reflecting our current assumptions about higher levels of tariffs on imports into the United States and the removal of the de minimis exemption.
American businesses have relied on the de minimis exemption for years. It previously allowed goods valued at less than $800 to enter the country tariff-free. This means a U.S. customer could order up to $800 worth of product and a company like Lululemon could ship it to them directly without paying any import duty, thus keeping down costs.
As of last month, this de minimis exemption is now a thing of the past, meaning companies will now pay more to get their goods to U.S. customers. And if companies pass those costs onto customers, customers could cut back on spending. Thats a big factor why Lululemons is forecasting a full fiscal year gross profit reduction of $240 million.
LULU stock has had a bad 2025
As of the time of this writing, LULU shares are currently plummeting in premarket trading. The stock price is currently down 19% to $166.94 per share. It hasn’t been that low for over five years.
But even before todays premarket crash, LULU shares have had a rough time as of late. Largely thanks to fears over how Trump’s tariffs will impact the companywhich relies on significant imports from Southeast Asian nationsLULU stock has dropped sharply in 2025.
As of yesterdays closing price of $206.09, LULU shares have lost more than 46% of their value since the year began.
When the Labor Department put out a disappointing jobs report a month ago, an enraged President Donald Trump responded by firing the economist in charge of compiling the numbers and nominating a loyalist to replace her.Nothing quite so dramatic is likely Friday when the department releases hiring and unemployment numbers for August. They are expected to show that companies, government agencies and nonprofits added a modest 80,000 jobs last month, according to a survey of forecasters by the data firm FactSet.That would be a slight improvement on July’s 73,000 but still offer more evidence that the American job market has cooled significantly from last year.The unemployment rate is forecast to stay at a low 4.2% suggesting that employers are stuck in a no-hire, no-fire mode: They are reluctant to add many new workers but don’t want to give up the ones they have. But there are signs they may be starting to cut staff.The U.S. job market has lost momentum this year, partly because of the lingering effects of 11 interest rate hikes by the inflation fighters at the Federal Reserve in 2022 and 2023 and partly because President Donald Trump’s policies, including his trade wars, have created uncertainty that leaves managers reluctant to make hiring decisions.So far in 2025, the economy has generated 85,000 new jobs a month, down from 168,000 last year and an average 400,000 a month during the hiring boom of 2021-2023 as the United States roared back from COVID-19 lockdowns.“The labor market is showing signs of cracking,” said Heather Long, chief economist at Navy Federal Credit Union. “It’s not a red siren alarm yet, but the signs keep growing that businesses are starting to cut workers.”The Labor Department reported Thursday that the number of Americans applying for unemployment benefits a proxy for layoffs rose last week to the highest level since June, though the number of claims remained within a healthy range.The outplacement firm Challenger, Gray & Christmas said Wednesday that U.S.-based employers have announced more than 892,000 jobs cuts this year through August, more than the 761,000 reported for all 12 months of 2024.In a sign that U.S. hiring gains are limited and fragile, nearly 80% of new private sectors jobs this year have been created in just one industry: healthcare and social assistance, a Labor Department category that spans hospitals to daycare centers.After seeing the weak July jobs numbers, Trump fired Erika McEntarfer, head of the Bureau of Labor Statistics, baselessly claiming the hiring report had been rigged to hurt him politically.He has nominated a partisan idealogue, E.J. Antoni, to replace her. But for now, pending Antoni’s confirmation by the Senate, the jobs report is in the hands of the acting BLS commissioner, William Wiatrowski, a career Labor Department official.Economists and others familiar with how the jobs numbers are collected have expressed confidence that Labor Department procedures will keep the data are safe from political interference.What set Trump off a month ago wasn’t the July hiring or unemployment figures. It was BLS revisions, which shaved a stunning 258,000 jobs off May and June payrolls and slashed average monthly hiring from May through July to a mere 35,000.The revisions are standard practice, and necessary because many companies surveyed by the government submit their responses late or correct what they’ve already sent in.Government economists are also contending with a big drop in the share of companies that respond to the surveys. A decade ago, about 60% of companies surveyed responded. Now only about 40% do.And it’s an international problem for data collectors, especially since COVID-19. The United Kingdom even suspended publication of an official unemployment rate because of inadequate responses.“I remember being at an international conference where the chief statistician of the Russian Republic was complaining about how the Russians don’t want to complete their surveys,” William Beach, BLS commissioner from 2019 to 2023, said in an interview last month. “What could he do? If you can’t compel completion in Russia, you can’t compel it anywhere.”
Paul Wiseman, AP Economics Writer
New data suggests that high-paying remote positions are almost as rare as they were before the pandemic.
According to a recent analysis of over one million job postings between January and July from Ladders, a career platform for six-figure salary jobs, those offering salaries of $100,000 or more and that also offer remote or hybrid work plunged 15% in the second quarter of 2025.
Only about 6% of high-paying jobs now provide location flexibilitydown from a high of 41% in 2022, and just a couple points above the 4% recorded back in pre-pandemic 2019.
By comparison, roughly 20% of jobs advertised on LinkedIn offer hybrid or remote work options. According to Indeed, fully remote positions advertised on its platform jumped from 2.4% of all postings in 2019 to 10.2% in 2022, but have since declined to about 7.9%.
Its definitely an employers market, says Ladders founder Marc Cenedella. In 2025, by and large, U.S. and Canadian companies have decided [workers earning six figures or more] are going back to the office.
Cenedella adds that while six-figure jobs once represented a small slice of the workforce, the data now applies to a larger proportion of knowledge economy workers, thanks in part to inflation and the growth of the knowledge industry.
When we started the business 20 years ago it would have been the top 25% of the workforce, he says. Now probably the top 50% of professional workforces is at that level.
The Ladders data suggests that as the labor market tightens, employers are increasingly demanding more in-person work, especially among top earners.
Where did all the high-paying flexible jobs go?
This trend is an abrupt 180 from even a few years ago.
Cenedella explains that employers were amazed in 2021 that they could be just as profitable as they were in the past without having to have all this real estate and overhead. But just a year later, many employers started trying to pull staff back into the office, regardless of how much they make.
Today, a more challenging economy and a tighter labor market is giving them the opportunity to enforce their preferred location policies. As time went on, those good habits kind of deteriorated. A new generation hasn’t been taught those good habits, Cenedella says.
Cenedella reasons that if organizations could successfully operate remotely, most would opt to do so, as it offers some short-term savings on real estate and overhead.
In fact, a recent study conducted by professors at Harvard University, Brown University, and the University of California, Los Angeles, found that workers would accept a significantly lower salaryup to 25% lessin exchange for the opportunity to work remotely or hybrid.
But instead of saving on salaries by permitting remote work, the researchers found employers tend to do the opposite: If firms don’t have to pay as much to attract people for remote positions, we might expect the salaries to be lower for remote work rather than in-person workand we don’t find that, says Bobak Pakzad-Hurson, an assistant professor of Economics and Entrepreneurship at Brown University, and one of the studys coauthors. In fact, remote workers make a tiny bit more.
Despite workers willingness to sacrifice some of their salary for the opportunity to have more flexibility, the Ladders data suggests employers are unwilling to make that trade.
Are high-paying remote jobs ever coming back?
Still, Pakzad-Hurson doesnt believe high-paying remote and hybrid work opportunities will remain at such low levels for long.
Things in the short-run are tied to political and economic factors, but I dont think the prevalence of work-from-home is going to go away, in part because of technological progress, he says.
Much of the hesitation to hire across the board, but especially top earners, is the result of numerous seismic changes hitting the economy and the labor market all at once.
Thats causing employers to hold off until they get more clarity on the long-term effects, says career expert Jasmine Escalera of resume writing resource MyPerfectResume. There are way too many factors that are completely changing corporate America, she says, from economics to politics to AI.
Amid all these changes Escalera says employers are more hesitant to hireas reflected in recent Bureau of Labor Statistics dataand may feel more emboldened to impose their preference for in-person work on a labor force with more limited options, especially for staff that command a premium salary.
With the current labor market conditions, those who are keen on finding a role with both location flexibility and a high salary may need to adjust their expectations, and their timeline.
Escalera says the Ladders survey further demonstrates how employers feel theyre in a position to call the shots, and while many are hesitant to cut back on salary, they appear more than willing to cut back on flexibility perks.
They feel as though if I give you a higher paying salary, I get to make demands, she says. Companies have way more of an upper hand, and they’re basically dictating how things are going to flow, and workers just have to roll with it.
Whatever the reason, employers appear to have settled on a preference for in-person work, and Cenedella of Ladders doesnt believe flexibility will ever return to anything near that 2022 peak.
Should it go back to being a hot marketand it will by 2027 or 2028will those numbers go up 1 or 2%? Absolutely, he says. But I cant see a world where we go from 6% remote work to 20%.
No one has ever called LeBron James underrated. But the NBA star wasnt always on top, particularly outside of basketball. He’s been questioned and critiqued for his pursuits in philanthropy, education, business, and entertainment. Thats part of why he founded the media brand Uninterrupted, with the tagline More Than an Athlete, answering critics who told him to shut up and dribble whenever his opinions ventured beyond the court.
That idea of being overlooked is the crux of a new campaign and web series for employment brand Indeed called The Main Thing, set to launch October 1. Created by Uninterrupted, the four-part series features James interviewing skateboarding icon and entrepreneur Tony Hawk, R&B artist Teyana Taylor, tech YouTuber Marques Brownlee, and fashion designer Melody Ehsani. The focus of the show is how skills forged through lived experience, creativity, and hard work can open doors across industries.
Uninterrupted has dropped a new ad, narrated by sportscaster Ernie Johnson Jr., using LeBrons own work history as a jumping-off point.
Maverick Carter, CEO of Uninterrupted and co-CEO of its parent company, Fulwell Entertainment, says that Indeed wanted to create something entertaining that challenges traditional job hiring practices.
Their focus on championing opportunities for all and their skills-first approach to help people get jobs hit home for us, Carter says. Weve always believed in platforms that unlock access and create space for people whove been overlooked.
[Photo: Indeed]
Skills to pay the bills
Brand content is also a way for Uninterrupted to boost its bottom line. Over the years the company has produced content for major brands such as JPMorgan Chase, Nike, and Google, and commercial work remains a key cog in its business.
James’s SpringHill Co., which produces TV shows, films, podcasts, and more, reportedly lost $28 million on sales of $104 million last year, according to Bloomberg News. In February, it completed a merger with Fulwell 73 to create Fulwell Entertainment, with work now spanning branded content and commercials, unscripted content, documentaries, scripted TV and film, and live events.
James Whitmore, Indeeds chief marketing officer, says the goal is to create content that reflects the brands focus on hiring for skills rather than just titles or backgrounds: Were telling stories that highlight what people can do, not just what theyve done, and in doing so reinforce what Indeed has always stood for: helping people get jobs by connecting them with opportunity.
The internet is awash in brand content, but Indeed has made a strategic bet that launching a series with LeBron James just as he begins his 23rd NBA season, combined with a varied guest list boasting their own fan bases, will draw an audience.
Carter says the key to making The Main Thing, or any brand content, worth watching is to treat it like any other piece of entertainment. Its not about slapping a logo on content, he says. Its about co-creating platforms that drive impact, shift culture, and tell important stories.
Every day, we hear about new algorithms, groundbreaking analyses, and the potential for AI to revolutionize patient care. Yet, for many physicians and their teams on the front lines, AI can feel like another layer of complexity, another screen to navigate, or another barrier between them and their patients.
The reality is, most doctors don’t compete with each other; they fight to survive under the weight of the healthcare system’s administrative demands. Providers face burnout from outdated processes, complex government regulations, and the confusing world of insurance payers.
While many AI tools promise relief, too often they create new points of frictioninterfaces to learn, workflows to manage, or alerts to respond toadding rather than removing complexity. This disconnect between AI’s promise and its practical application highlights a fundamental flaw.
It’s time for a different approach.
For AI to be truly impactful for doctors, it needs to recede into the background. Specifically in a clinical setting, AI should be present but not visible, perceptive but not intrusive, and powerfully helpful without demanding attention or detracting from time with patients. Unfortunately, contrary to their intent, many of today’s AI tools can actually increase workloads rather than decrease them.
Engineering AI to Adapt to Providers
In healthcare, we’re emerging from an era where technology has played too prominent a role in the patient-provider interaction. Hardware interfaces, supporting digital charting, coding, and billing, consumed valuable energy that should have been dedicated to patient care. While electronic health records (EHRs) initially promised efficiency by moving providers away from paper charts, the demands and growing complexity of documentation and reporting requirements quickly outpaced these EHRs’ capabilities. This led to a new layer of burnout for providers and a less personal experience for patients.
More recently, the rapid deployment of AI ambient listening solutions, though well-intentioned and helpful with transcription, can produce unintended consequences. Providers sometimes find themselves correcting the mistakes of poorly trained AIs or spending hours after clinic responding to messages, reviewing alerts or actioning downstream steps needed to complete the patient visit, adding to cognitive overload and burnout.
These early one-size-fits-all AI tools often feel like half measures, designed in silos or by technology teams that have failed to truly grasp the holistic challenges doctors face with their time and efficiency. Every minute spent troubleshooting technology, correcting errors, or navigating a clumsy interface is a minute taken away from precious eye contact, active listening, and the invaluable opportunity to offer true empathy and build connection with patients.
Of course, new technology always requires users to learn new ways of doing things, but instead of asking physicians to adapt to AI, true adoption depends on designing AI to adapt to them. In the context of the doctor’s office, this means:
By Doctors, For Doctors: For AI to truly recede into the background and become a reliable partner, its precision cannot be overstated. This level of contextual understanding of the doctors world is not an inherent feature of generic algorithms; rather, it needs to be painstakingly forged with AI models rigorously trained with extensive input from doctors and vast, de-identified real-world clinical data.
Deep Medical Intelligence: Unlike generic AI, systems should be grounded in vast, medical language and structured data that is medically unique to the needs of each doctor and their area of expertise. This allows AI to understand the subtle language of various specialties like dermatology or ophthalmology, delivering insights that match the needs and rhythms of each clinical domain.
Seamless Workflow Integration: There should be no new disruptions. AI should enhance existing workflows, reducing clicks and administrative burdens without forcing radical changes. For example, ambient listening technology can capture clinical conversations in real time, seamlessly, safely, and without disrupting the flow of discussion between doctor and patient.
Augmenting, Not Replacing: The commitment must be to responsible AI. Tools should offer intelligent suggestions, surface crucial information, and automate repetitive tasks, always ensuring the physician maintains control and clinical judgment. In this model, AI acts not as a replacement, but as a silent partnera trusted copilot, bolstering clinical expertise without overshadowing it.
Building Trust: Trust in AI doesn’t come from splashy featuresit’s earned through consistency, safety, and clarity. Systems should surface when they’re helpful, and step back when they’re not. When AI respects clinical boundaries, avoids false alarms, and delivers reliable results, providers learn to trust it as part of the care team, not a replacement for it.
Quiet transformation
The future of healthcare AI isn’t about shouting from the rooftops about technological prowess. It’s about the quiet, profound transformation that occurs when technology enhances care without announcing itself. It’s about technology acting as a catalyst for deeper human connection, helping doctors to be fully doctors again and patients to feel truly heard and cared for.
The goal is clear: build AI that becomes woven into the fabric of the practice, thoughtfully amplifying clinical excellence and fostering unparalleled patient experiences. When we design technology that respects the time, intelligence, and humanity of providers, we allow the patient-provider connection to shine. This is the next era of healthcare, defined not by what AI can do but by how effortlessly it helps providers do what they do best.
