How the return-to-office push is going — and other happenings in the world of work

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Catch up on headlines from the last 7 days.

• Fewer companies are requiring a full-time return to the office while more are starting to lean on a hybrid approach, according to a new survey. Read more about this below.
• Inflation slowed slightly in April. A key measure of inflation showed that prices climbed by 4.9% year-over-year, slightly below analysts’ expectations. Wholesale prices also increased at a slower pace than expected. These shifts suggest the Federal Reserve’s rate hikes are starting to curb high inflation. Read more about this below.
• Jobless claims jumped by 20,000 to their highest level since October 2021 last week. The data, a proxy for layoffs, could be the latest sign of a loosening labor market.?
• Home prices are dipping. Higher mortgage rates are hitting buyer demand, pushing list prices down. Home prices were down in 31% of the 221 metro areas tracked by the National Association of Realtors in the first quarter of the year. More housing market data lands later this week.
• Parental leave is on the rise. New data from the Labor Department shows that more new parents, particularly fathers, are taking paid and unpaid leave after having a child — in part thanks to a pandemic baby boom and a surge in stronger parental leave policies.
• Mother’s Day spending was likely up. Flowers, greeting cards and restaurant outings for the holiday are expected to total $35.7 billion in spending, a nearly $4 billion increase from 2022, according to the National Retail Federation.??
• Job satisfaction hit a four-decade high, according to a new Conference Board survey. The share of employees satisfied with their jobs hit 62% last year, up from 60.2% in 2021. The uptick is likely a result of a tight pandemic-era labor market that led to higher wages and more flexibility. The happiest workers switched jobs in search of those things.

Take a closer look at recent trending topics — and engage with meaningful conversations happening on LinkedIn.

How the return-to-office push is going

• Last quarter, 49% of companies reported requiring full-time in-office work. Now, that number is slipping, according to a new survey from Scoop. About 42% of companies are currently requiring five days in the office — and more companies are starting to lean on a hybrid schedule.
• The survey found that 30% of companies in the U.S. are embracing hybrid models, compared to just 20% in the first quarter. The change could be attributed to the rise of “structured” hybrid — a schedule that provides employees with the flexibility of working from home a couple pre-determined days a week while still promoting effective in-office collaboration. The most popular office anchor days, Stanford economist Nick Bloom pointed out, are Tuesday through Thursday. “Large firms are particularly focused on anchor-day hybrid,” while smaller companies are more likely to lean toward a more flexible hybrid situation.
• A separate LinkedIn analysis found that while remote job postings are declining, hybrid roles are steadily increasing. In April, the proportion of job postings offering remote work in the U.S. reached 10.8%, down from a peak of 20.7%. Hybrid job postings, however, saw an increase to 14%, up from 6.6% in April 2022. The shift underscores that flexibility at work is still important to most employees — and employers who expect face time are starting to meet them in the middle.

Inflation is slowing but still stings

• The Consumer Price Index, the monthly release that measures the cost of goods and services, showed that prices climbed 4.9% year-over-year in April. That’s below analysts’ expectations and down from 5% in March. It suggests the Fed’s rate hikes are working, but prices still feel high for most Americans.
• The overwhelming majority of U.S. workers (92%) report being stressed out by their finances, according to a new survey from BrightPlan, a digital financial advisor. The stress is mainly linked to inflation, interest rates and general market volatility. It’s an all-consuming worry — workers estimate they are losing an entire workday every week thinking about it. They’re also pulling back spending on social outings from trips with friends to life events like weddings.?
• Whitney Lennon, a manager in construction, commented that she finds this to be an issue with her team and approaches it by frequently talking about money with her reports. “In meetings, I would voice friendly reminders of the matching 401k contribution,” and other ways to avoid leaving money on the table, she said. “It felt like an awkward conversation to crack… but taking a holistic active listening approach in leadership can alleviate individuals’ burdens and empower them to be innovative,” she continued.?

These jobs could disappear in the next few years

• Nearly 14 million jobs could disappear by 2027 thanks to the rise of automation, according to a new survey of over 800 companies from the World Economic Forum. That’s about 2% of the global workforce. The roles that are most at risk are administrative and record-keeping positions.
• That aligns with a separate Bureau of Labor Statistics analysis, which showed that administrative professional jobs including typists and executive secretaries were projected to decline rapidly between 2021 and 2031 in the U.S. Most at-risk roles earn less than the national median salary of $69,717.
• While technological advancement could be the greatest factor in upcoming job elimination, it will also be essential in job creation. Career coach Fraser Traverse commented that there are certain skills that “cannot be AI generated” that help job seekers stay competitive in the job market, including “creative thinking, analytical thinking and technological literacy.”

Get ready for the week by seeing what’s coming up.

• Tuesday, May 16: The U.S. Commerce Department will release the monthly Retail Sales report for April, which tracks demand for finished goods, such as food, clothing and furniture, in stores and online.
• Wednesday, May 17: LinkedIn Senior Editor at Large George Anders will release his latest edition of Workforce Insights, digging into how worker demand for digital skills differs by generation
• Wednesday, May 17: The U.S. Census Bureau will release the number of new building permits issued by the government in April, which is a key housing market indicator.
• Thursday, May 18: The U.S. Department of Labor will release initial jobless claims for the previous week. The report, a proxy for layoffs, tracks the number of people filing for unemployment benefits.
• Thursday, May 18: The National Association of REALTORS? will release its monthly home sales report, which measures the number of existing homes that were sold in April.