Search Results

U.S. job growth blew past expectations in the first month of the year as the labor market continued to breeze through inflation-fighting monetary tightening by the Federal Reserve. The Labor Department released its monthly jobs report for January at 8:30 a.m. ET on Friday. Here are the numbers, compared to Wall Street estimates: Non-farm payrolls: +517,000 vs. +188,000 expected Unemployment rate: 3.4% vs. 3.6% expected Average hourly earnings, month-over-month: +0.3% vs +0.3% expected Average hourly earnings, year-over-year: +4.4% vs. +4.3% expected Friday's shock numbers mark a sharp jump from the prior month, which saw payrolls rise by an upwardly revised 260,000. The unemployment rate slipped to 3.4% in January, the lowest since 1969. The blowout figures come just as the employment picture began to show some signs of moderation, with monthly data on a downtrend in recent months before January's outlier report. The Federal Reserve has raised interest rates by 450 basis points, or 4.5%, since March 2022 in an effort to slow the economy and rein in inflation. Friday's data shows that even with these moves, the U.S. labor market remains strong. https://finance.yahoo.com/news/january-jobs-report-labor-market-economy-february-3-2023-125436675.html

The Article reads: "With so many fintechs laying off staff, it can be easy to assume that the entire industry is in distress. But that’s not the case. In fact, some companies are finding opportunity in the masses of layoffs. Rex Salisbury, founding partner of Cambrian Ventures and formerly on the fintech investment team at Andreessen Horowitz (a16z), believes that early-stage fintech founders, particularly at the pre-seed and seed stages, “are the big winners in the current job market and are pulling in top talent that would have been inaccessible 6 months ago. The buzz and momentum for these companies is unlike anything I’ve seen before, it’s incredible.” And Lee Hower, a co-founder and partner at NextView Ventures who was on the founding team of LinkedIn, believes that despite the downturn, there remain fintechs that are “thriving.” “I was an early employee at PayPal and we grew during the dotcom bust and were a rare IPO in 2002,” he told TechCrunch. “The brightest stars in fintech today are similarly succeeding despite the macro backdrop because they’re solving real problems that consumers, businesses, and financial institutions are dealing with every day.” Here are some fintech companies that are hiring. Note that this is obviously not a comprehensive list, and that we’ll be tracking more in upcoming editions of our fintech newsletter, The Interchange. (Note, it comes out every Sunday and it’s FREE). Insurance infrastructure startup Lula, which has raised $18 million in funding from the likes of NextView Ventures, Founders Fund and Khosla Ventures, is hiring 10 across engineering, product and sales. Another infrastructure startup, Unit, is also hiring — with nearly a dozen open roles across the U.S. and Israel. The company last year raised closed a $100 million Series C round of funding led by Insight Partners at a $1.2 billion valuation. BaaS startup Synctera, which raised $33 million in 2021, is also hiring across nine roles. Array, a New York-based bringing consumers financial, identity, and privacy protection tools, is hiring 8 engineers for its new product, Hello Privacy. The company has raised $67 million from Battery Ventures, NextView Ventures, and General Catalyst. Trading app Public.com is hiring 14 across engineering, supporting, operations, marketing, product and design. The company last raised in 2021 — a $220 million Series D funding round at a $1.2 billion valuation. Securesave, an emergency savings fintech, is hiring for at least over five roles over the next few months across sales and operations. Setpoint is hiring 5 roles in sales, finance, operations, and engineering. The company recently raised a fresh $43 million led by Andreesen Horowitz OatFi, a B2B BNPL which recently raised an $8 million seed from QED and Rex Salisbury of Cambrian, is hiring for four roles." https://techcrunch.com/2023/02/16/the-entire-fintech-industry-is-not-in-distress-heres-who-is-hiring/