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☆ U.A.W. Effort to Organize Mercedes Workers in Alabama Has High Stakes
▼ + stars: | 2024-05-16 | by ( Jack Ewing | ) www.nytimes.com time to read: +1 min

More than 5,000 Mercedes-Benz workers in Alabama are voting this week on whether to join the United Automobile Workers union, a decision both supporters and opponents say will have consequences far beyond two factories near Tuscaloosa where the German carmaker churns out luxury sport utility vehicles and batteries for electric cars. Conservative political leaders have portrayed the union campaign to organize Mercedes workers as an assault by outsiders on the region’s economy and way of life. The vote tally is expected to be released by federal officials on Friday. Six Southern governors, including Kay Ivey, an Alabama Republican, issued a statement last month criticizing unions as “special interests looking to come into our state and threaten our jobs and the values we live by.” Alabama recently passed a law intended to discourage union organizing. For the union, a win would add to a string of victories in the South, where organized labor has traditionally been weak, and provide momentum to the U.A.W.’s efforts to win over workers at other nonunion automakers like Hyundai, Toyota, Honda and Tesla.

Persons: Kay Ivey Organizations: Benz, United Automobile Workers, Conservative, Six, Alabama Republican, ”, Hyundai, Toyota, Honda Locations: Alabama, Tuscaloosa, Six Southern, ” Alabama

☆ University of California Workers Vote to Authorize Strike in Rebuke Over Protest Crackdowns
▼ + stars: | 2024-05-15 | by ( Jonathan Wolfe | ) www.nytimes.com time to read: +1 min

But academic workers in the University of California system authorized their union on Wednesday to call for a strike over something else entirely: free speech. 4811, represents about 48,000 graduate students and other academic workers at 10 University of California system campuses and the Lawrence Berkeley National Laboratory. The strike authorization vote, which passed with 79 percent support, comes two weeks after dozens of counterprotesters attacked a pro-Palestinian encampment at the University of California, Los Angeles, for several hours without police intervention, and without arrests. The vote does not guarantee a strike but rather gives the executive board of the local union, which is part of the United Auto Workers, the ability to call a strike at any time. Eight of the 10 University of California campuses still have a month of instruction left before breaking for summer.

Persons: Lawrence, counterprotesters Organizations: University of California, U.A.W, Lawrence Berkeley National Laboratory, United Auto Workers Locations: Los Angeles

☆ A Strike Looms in a Battleground State
▼ + stars: | 2024-04-26 | by ( Matthew Cullen | ) www.nytimes.com time to read: +1 min

More than 7,000 workers who make trucks and buses at Daimler Truck plants in North Carolina are poised to go on strike at midnight, barring a last-minute breakthrough. The United Automobile Workers, the union that represents the workers, said it was demanding a “historic deal” from the truck maker, including pay raises and more job security. “It’s our generation-defining moment,” Shawn Fain, U.A.W.’s president, said. A strike in North Carolina — a battleground state that has a Democratic governor, but that President Biden narrowly lost in 2020 — could also have repercussions on the 2024 campaign. Biden, who has proclaimed himself the “most pro-union president in history,” has indicated that he could step in aggressively to support the Daimler workers.

Persons: “, ” Shawn Fain, U.A.W, ’, Biden, —, ” Organizations: Daimler, United Automobile Workers, U.S, Democratic Locations: North Carolina, Southern

☆ Daimler Truck Workers in North Carolina Are Poised to Strike
▼ + stars: | 2024-04-26 | by ( Jack Ewing | More About Jack Ewing | ) www.nytimes.com time to read: 1 min

Workers who make trucks and buses for Daimler Truck in North Carolina appeared poised to strike on Friday as contract talks remained deadlocked. A contract covering 7,000 Daimler employees represented by the United Automobile Workers will expire at the end of Friday. The German company has five factories in North Carolina, where it builds Freightliner and Western Star trucks, Thomas Built buses, and various components. scored a significant victory this month when workers at Volkswagen’s factory in Chattanooga, Tenn., voted to be represented by the union. Workers at a Mercedes-Benz factory in Alabama will vote on whether to unionize in mid-May.

Persons: Thomas Organizations: Daimler Truck, Daimler, United Automobile Workers, Freightliner, Western Star, Workers, Benz Locations: North Carolina, Southern, Volkswagen’s, Chattanooga , Tenn, Alabama

☆ Democrats Try to Navigate a Looming Strike in a Swing State
▼ + stars: | 2024-04-26 | by ( Jonathan Weisman | ) www.nytimes.com time to read: +1 min

Barring a last-minute breakthrough, more than 7,000 workers are set to walk off their truck and bus assembly lines on Friday night in the swing state of North Carolina, injecting the United Automobile Workers’ new activism in the South directly into the 2024 election. North Carolina has never been hospitable to organized labor, and the midnight strike at the North American subsidiary of the German industrial giant Daimler Truck has been greeted with trepidation by the state’s Democratic establishment, which has long tried to project a moderate, pro-business bent. But Shawn Fain, the U.A.W.’s brash new president, doesn’t much care. “We don’t expect politicians to save the day, but at the end of the day, politicians have an obligation to the people that elect them,” he said in an interview on Thursday, adding: “It’s our generation-defining moment. This is a time where politicians need to pick a side.”In September, President Biden joined the picket line of the U.A.W.’s successful strike of the Big Three U.S. automakers, and Thursday, a White House spokeswoman, Robyn Patterson, indicated that the president could be equally aggressive if there was a Daimler walkout.

Persons: Shawn Fain, ”, Biden, ’, Robyn Patterson Organizations: United Automobile Workers, North, Daimler, Democratic, ”, Big, U.S, automakers, House Locations: North Carolina, Carolina, North American

☆ VW Workers in Tennessee Vote for Union, a Labor Milestone
▼ + stars: | 2024-04-19 | by ( Neal E. Boudette | ) www.nytimes.com time to read: +1 min

In a landmark victory for organized labor, workers at a Volkswagen plant in Tennessee have voted overwhelmingly to join the United Automobile Workers union, becoming the first nonunion auto plant in a Southern state to do so. In a statement late Friday, the company said that the union had won 2,628 votes, with 985 opposed, in a three-day election. to organize the Chattanooga factory over the last 10 years were narrowly defeated. The outcome is a breakthrough for the labor movement in a region where anti-union sentiment has been strong for decades. won record wage gains and improved benefits in negotiations with the Detroit automakers.

Organizations: Volkswagen, United Automobile Workers, Detroit automakers, General Motors, Ford Motor, Chrysler, Jeep Locations: Tennessee, Southern, Chattanooga

Labor painsAfter a “summer of strikes” last year that stretched from Detroit to Hollywood, unions are on a roll, flexing their growing might. Friday will bring a new test of that power as workers at a Volkswagen factory in Tennessee vote on whether to join the United Automobile Workers. Victory there would mark perhaps the first time a foreign carmaker’s U.S. plant became unionized and form a beachhead for organized labor in the anti-union South. But it could also resonate well beyond the car industry as President Biden cultivates labor in battleground states like Michigan and Pennsylvania. A yes vote would be a big win for the U.A.W.

Persons: ”, Biden, Shawn Fain, they’ve Organizations: Volkswagen, United Automobile Workers, Big, Detroit carmakers, Toyota, Tesla, Automotive News Locations: Detroit, Hollywood, Tennessee, U.S, Michigan, Pennsylvania

☆ Opinion | Here’s Something Southern Republican Governors Are Afraid Of
▼ + stars: | 2024-04-19 | by ( Jamelle Bouie | ) www.nytimes.com time to read: +1 min

Last year, the United Auto Workers announced an ambitious plan to organize workers and unionize foreign-owned auto plants in the South. “When we return to the bargaining table in 2028, it won’t just be with the Big Three. is targeting 13 automakers — including Toyota, Hyundai, Honda, Nissan, Volvo and Tesla — employing around 150,000 workers in 36 nonunion plants across the South. The mere potential for union success was so threatening that the day before the vote began, several of the Southern Republican governors announced their opposition to the U.A.W. “We the governors of Alabama, Georgia, Mississippi, South Carolina, Tennessee and Texas are highly concerned about the unionization campaign driven by misinformation and scare tactics that the U.A.W.

Persons: ” Shawn Fain, ” Fain, it’s, “, ” Organizations: United Auto Workers, Ford, General Motors, Chrysler, Toyota, Hyundai, Honda, Nissan, Volvo, Tesla, Volkswagen, Southern Republican Locations: Chattanooga , Tenn, Alabama, Georgia , Mississippi, South Carolina , Tennessee, Texas

☆ VW Workers in Tennessee Start Vote on U.A.W., Testing Union Ambitions
▼ + stars: | 2024-04-17 | by ( Neal E. Boudette | ) www.nytimes.com time to read: +1 min

Last fall the United Automobile Workers union won big pay increases from the Detroit automakers, and the impact rippled quickly through the nonunion auto plants scattered across the South. On production lines in Alabama, Tennessee, Kentucky and elsewhere, those pay increases have been referred to as the “U.A.W. bump.”Now 4,300 workers at Volkswagen’s plant in Chattanooga, Tenn., will test whether the union can achieve an even greater bump. On Wednesday, they begin voting on whether to join the U.A.W., and the prospects of a union victory appear high. About 70 percent of the workers pledged to vote yes before the union asked for a vote, according to the U.A.W.

Persons: Tesla, “, ”, Kelcey Smith Organizations: United Automobile Workers, Detroit automakers, Toyota, Honda, Volkswagen, Nissan, Hyundai, VW Locations: United States, Alabama , Tennessee , Kentucky, Chattanooga , Tenn

☆ Mercedes-Benz Workers in Alabama Ask for Unionization Vote
▼ + stars: | 2024-04-05 | by ( Jack Ewing | More About Jack Ewing | ) www.nytimes.com time to read: +1 min

Workers at a Mercedes-Benz factory in Alabama have petitioned federal officials to hold a vote on whether to join the United Automobile Workers, the union said on Friday, a step forward for its drive to organize workers at car factories in the South. is also trying to organize workers at a Volkswagen factory in Tennessee and a Hyundai factory in Alabama, establishing a bigger presence in states that have drawn much of the new investment in automobile manufacturing in recent decades. A vote at the Volkswagen plant is scheduled for April 17 to 19. The drive has taken on added importance as Southern states like South Carolina and Georgia attract billions of dollars in investment in electric vehicle and battery manufacturing. is trying to ensure that jobs created by electric vehicles do not pay less than jobs at traditional auto factories.

Organizations: Benz, United Automobile Workers, Ford Motor, General Motors, Detroit, Volkswagen, Hyundai Locations: Alabama, Tennessee, South Carolina, Georgia

☆ Microsoft picks company veteran Pavan Davuluri to lead Windows and Surface
▼ + stars: | 2024-03-26 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Microsoft said Monday it has selected company veteran Pavan Davuluri to lead its Windows operating system and Surface devices teams. Davuluri's promotion comes a week after Microsoft said it was hiring former DeepMind co-founder Mustafa Suleyman as the head of a new organization called Microsoft AI. The Windows team will continue to work closely with the Microsoft AI team on AI, silicon, and experiences.The Web Experiences team will report into Mustafa in the new Microsoft AI organization. Mike Davidson continues to lead Design and will work with Pavan and team on how to realign Windows design. They will join the Microsoft AI leadership team along with Jordi, Mike, and Rukmini, all reporting to Mustafa.We are excited for this team to help Microsoft AI achieve its bold ambition to build world-class consumer AI products.

Persons: Pavan Davuluri, Panos Panay, DeepMind, Mustafa Suleyman, Mikhail Parakhin, Parakhin, Kevin Scott, Rajesh Jha, Davuluri, Read, Satya, Shilpa Ranganathan, Jeff Johnson, Mustafa, Jordi Ribas, Andrey Proskurin, Fatima Kardar, Nick Lee, Rukmini Iyer, Paul Viola, Weiqing, Mike Davidson, Pavan, Ali Akgun, Kya Sainsbury, Carter, Qi Zhang, Rajesh Sundaram's, Jordi, Mike, Rukmini Organizations: Microsoft, Windows, Bing, WWE

☆ VW Workers Seek Union Vote at Tennessee Plant for Third Time
▼ + stars: | 2024-03-18 | by ( Neal E. Boudette | ) www.nytimes.com time to read: 1 min

Volkswagen employees in Tennessee who are hoping to join the United Automobile Workers asked a federal agency on Monday to hold an election, a key step toward the union’s longtime goal of organizing nonunion factories across the South. With the union’s backing, Volkswagen workers filed a petition with the National Labor Relations Board asking for a vote on U.A.W. representation, saying that more than 70 percent of the 4,000 eligible workers at the plant had signed cards supporting the union. “Today, we are one step closer to making a good job at Volkswagen into a great career,” Isaac Meadows, an assembly worker at the plant, said in a statement. If held, an election would be the first test of the U.A.W.’s newfound strength after staging a wave of strikes in the fall against the three Detroit automakers — General Motors, Ford Motor and Stellantis — and winning record wage increases.

Persons: ” Isaac Meadows, ’, — Organizations: United Automobile Workers, Volkswagen, National Labor Relations Board, “, Detroit, —, Motors, Ford Motor Locations: Tennessee

☆ I had the opportunity to move from Chicago to Texas on Facebook's dime. I got nervous and backed out — a decision I now regret.
▼ + stars: | 2024-03-14 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +8 min

I have a twin sister who I'm very close with, who said, "I'm going to Chicago," and I was like, "You know what? But once things started opening back up and the world started to become "normal" again, a lot of my friends left Chicago. When they hired me, they said I could work from one of two locations: either Austin, Texas, or Chicago. It's been almost two years or so and people are still commenting, "Texas didn't want you anyway." I haven't been back to Texas since I made my decision but I'm going in February for my cousin's birthday.

Persons: —, AW, I've, Austin, Ayahna Wilbon, wasn't, flack, It's, A.W, Wilbon, haven't, I'm Organizations: Service, Facebook, Business, Chicago, Texas, Austin, Dallas Locations: Chicago, Texas, There's, Austin , Texas, Austin, Dallas, Houston

☆ Jeep, Dodge-maker Stellantis' profit slides as Detroit Three strikes bite
▼ + stars: | 2024-02-15 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

(L-R) United Auto Workers (U.A.W.) members Kaleb Delfine, Bryan Broecker, Michael Gatto and James Triplett picket outside the Jeep Plant on September 18, 2023 in Toledo, Ohio. Global auto giant Stellantis on Thursday reported a 10% year-on-year fall in profit in the second half of 2023, as six-week strikes at the so-called "Detroit Three" automakers hampered production in the group's North American profit epicenter. Adjusted operating income (AOI) came in at 10.2 billion euros ($10.96 billion) for the July to December period, down from 11.3 billion euros for the same period in 2022. Stellantis reported in late October that labor strikes by the United Auto Workers union, which ran for six weeks from Sept. 15 and also targeted General Motors and Ford Motor , cost the company $3.2 billion in revenue through October.

Persons: Kaleb Delfine, Bryan Broecker, Michael Gatto, James Triplett, Stellantis Organizations: United Auto Workers, Jeep, Global, Reuters, Stellantis, United Auto Workers union, Motors, Ford Motor Locations: Toledo , Ohio, American, Europe, North America

☆ Moneyball-Plus: What Happens When Investors Treat Athletes Like Startups
▼ + stars: | 2024-01-28 | by ( Joseph Bien-Kahn | ) www.businessinsider.com time to read: +27 min

What if athletes could sell a percentage of their future earnings to investors, the same way tech entrepreneurs offer a stake in their promising new ideas in return for venture capital? "We look at the game very, very differently than everyone else," Schwimer tells the pitcher. Finlete is launching a fund that allows fans to buy shares in a prospect's future earnings. What if you could sell a share of your future earnings, he asked, for $10,000? Today, he says, more than 80% of the players BLA has invested in are outside the league's top 300 prospects.

Persons: They're, Michael Schwimer, —, Schwimer, BLA, haven't, Fernando Tatis Jr, We've, it's, Daniil, David Liberman, Garrett Broshuis, he'd, He'd, Houdini, Christian Petersen, Erik Kratz, Kratz, Cole Hamels, Hamels, Sean M, Marvin Bush, George W, Bush, Paul DePodesta, bankroll BLA's, Bill Miller, Miller, HBO's, Michael, Jeff Bezos, Bezos, I'd, I'm, Steven Duncker, Goldman Sachs, Elly De La Cruz, Dylan Buell, phenom, Scott Boras, Yermín Mercedes, Francisco Mejía, countersue Mejia, Gervon Dexter, they're, Dexter, Wharton, He's, he'll, isn't, scoffing, he's Organizations: Philadelphia Phillies, Big League, San Diego Padres, Benchmark Capital, Sports, Wharton Sports Business, MLB, University of Virginia, Partners, Phillies, Getty, AAA, Arizona Fall League, Ritz Carlton, Cleveland Browns, Dodgers, Cleveland Indians, Big League Advance, Chicago Bears, University of Florida, Huntsman, NCAA Locations: Maryland, Philadelphia, United States, baseball's, Latin America, America, Dominican Republic, Cleveland, Florida

☆ Biden to Speak at U.A.W. Conference as He Seeks the Group’s Endorsement
▼ + stars: | 2024-01-24 | by ( Katie Rogers | More About Katie Rogers | ) www.nytimes.com time to read: +1 min

President Biden will appear with the president of the United Automobile Workers union at a conference in Washington on Wednesday as he tries to secure the group’s influential endorsement. Mr. Biden, who appeared on a picket line with striking union workers in the fall, is expected to provide a keynote speech at the conference, and will “address attendees on the top issues facing working-class Americans,” according to a media advisory for the event. The group’s president, Shawn Fain, has been a vocal critic of former President Donald J. Trump and criticized some Republican policies as divisive and harmful when he spoke at the conference on Monday. “Right now, we have millions of people being told that the biggest threat to their livelihood is migrants coming over the border,” Mr. Fain said. It’s from the billionaires and the politicians getting working people to point the finger at one another.”

Persons: Biden, Mr, Shawn Fain, Donald J, Trump, Fain, ” Organizations: United Automobile Workers, Republican Locations: Washington, United States

☆ U.A.W. Announces Drive to Organize Nonunion Plants
▼ + stars: | 2023-11-29 | by ( Neal E. Boudette | More About Neal E. Boudette | ) www.nytimes.com time to read: +1 min

The United Automobile Workers union announced Wednesday that it was undertaking an ambitious drive to organize plants owned by more than a dozen nonunion automakers, including Tesla and several foreign companies — a goal that has long eluded it. The move comes weeks after the U.A.W. In addition to Tesla, the targets of the drive are two other electric vehicle start-ups, Lucid and Rivian, and 10 foreign-owned automakers: Toyota, Honda, Hyundai, Nissan, BMW, Mercedes-Benz, Subaru, Volkswagen, Mazda and Volvo. If the U.A.W. secures a foothold among those companies, it could signal a big shift in the American auto industry, where nonunion manufacturers have long had a significant cost advantage over the Detroit automakers.

Persons: Tesla Organizations: United Automobile Workers, General Motors, Ford Motor, Toyota, Honda, Hyundai, Nissan, BMW, Mercedes, Benz, Subaru, Volkswagen, Mazda, Volvo, Detroit

☆ The Pension: That Rare Retirement Benefit Gets a Fresh Look
▼ + stars: | 2023-11-24 | by ( Martha C. White | ) www.nytimes.com time to read: +1 min

In an economy characterized by a volatile stock market and elevated inflation, a sure thing looks better than ever. For some Americans in the labor force right now, that looks like a pension. Striking members of the United Automobile Workers union made waves this year when the union’s leaders demanded the reopening of defined-benefit pension plans for workers hired after late 2007. leadership failed to persuade automakers to reopen the plans, the bold move didn’t go unnoticed by retirement benefit experts. did mention that in their negotiations, because that isn’t really something you would have seen 10 years ago,” said Craig Copeland, director of wealth benefits research at the Employee Benefit Research Institute, a nonprofit organization.

Persons: ”, Craig Copeland Organizations: United Automobile Workers, Research Institute

☆ Ford Resumes Work on E.V. Battery Plant in Michigan, at Reduced Scale
▼ + stars: | 2023-11-21 | by ( J. Edward Moreno | More About J. Edward Moreno | ) www.nytimes.com time to read: +1 min

Ford did not specify exactly how much money it would be pulling back from the project, but said it would be roughly equivalent to its reduction in output. Ford said in September that it was suspending construction because of concerns that it would not be able to manufacture products at a competitive price. Rising labor costs were also a factor in Ford’s decision to scale back its plans for the factory, Mr. Reid said. Ford’s contract agreement with the U.A.W., which has been ratified by union members, raises the top wage for production workers by 25 percent. members to be transferred to battery and electric-vehicle plants under construction, like the one in Marshall.

Persons: Ford, Reid Organizations: United Automobile Workers Locations: Marshall

Social media’s antisemitism problemThe rise in antisemitism since the outbreak of war in the Middle East has ignited a clash between Wall Street donors and universities, and divided some workplaces. Now, the pressure is building on social media platforms, particularly Elon Musk’s X and TikTok, with advertisers, celebrities and influencers pulling spending and confronting executives about the proliferation of hate speech. He posted to X his support for white nationalist conspiracy theories that Jewish communities were spreading hatred. Yaccarino was brought in to win back advertisers after Musk bought Twitter last year and culled many content moderators. More than a dozen Jewish celebrities and creators, including the actors Sacha Baron Cohen, Debra Messing and Amy Schumer, confronted TikTok executives this week.

Persons: Elon Musk’s, Adolf Hitler, Musk, X’s, Linda Yaccarino, Yaccarino, “ Linda, ” Martin Sorrell, DealBook, TikTok, Sacha Baron Cohen, Debra Messing, Amy Schumer, “ Hitler, Anne Frank ”, Cohen, ”, Osama bin, bin Laden, —, Alex Haurek, George Santos, Biden, Xi Jinping, Doug McMillon, Walmart’s, “, ” Brian Cornell, ’ Organizations: IBM, Media, America, Nazi Party, Apple, Oracle, Defamation League, Twitter, S4 Capital, House, Big, General Motors, Hyundai, Republican, Justice Department, Business, APEC, West Texas Intermediate, Consumers, Depot, Walmart Locations: TikTok, New York, Hong Kong, China, San Francisco, Beijing, Washington, U.S

☆ G.M.’s Contract Deal With U.A.W. Faces Surprisingly Stiff Opposition
▼ + stars: | 2023-11-15 | by ( Neal E. Boudette | More About Neal E. Boudette | ) www.nytimes.com time to read: +1 min

A United Automobile Workers union vote on a tentative contract agreement with General Motors that provides record wage increases has run into unexpectedly strong resistance from veteran workers. A majority of workers at several large plants in Michigan, Indiana and Tennessee rejected the contract, though union members at a large sport utility plant in Arlington, Texas, voted in favor of it. G.M., Ford Motor and Stellantis agreed to similar contracts with the union after U.A.W. Workers walked off the job at the first three plants on Sept. 15 and stayed on strike for more than 40 days. The agreement appears to be headed for ratification at Ford and Stellantis, the maker of Chrysler, Jeep and Ram vehicles, by comfortable margins, according to running tallies the U.A.W.

Organizations: United Automobile Workers, General Motors, Ford Motor, Workers, Ford, Chrysler, Jeep Locations: Michigan , Indiana, Tennessee, Arlington , Texas

Mr. Biden made history with his visit when he became the first president to appear on a picket line to support the striking workers. When word came down that the union had struck a deal with the automakers, Mr. Biden stepped away during a state dinner welcoming the Australian prime minister and called the U.A.W. “The union situation is a win for Biden,” said Barry Rabe, a professor of public policy at the University of Michigan. Mr. Fain has yet to give Mr. Biden the U.A.W.’s endorsement, but he has also outlined ambitious goals that would be much harder to achieve if Mr. Trump returned to the White House. And while Mr. Biden visited picketing workers and voiced support for their strike, Mr. Trump visited a nonunion plant in Michigan and said union members “were being sold down the river by their leadership.”

Persons: Biden, Trump, Shawn Fain, “, ”, Barry Rabe, Fain, ’, Trump’s Organizations: Democratic, Biden, University of Michigan, National Labor Relations Board Locations: autoworkers, Michigan

☆ U.S. employers added 150,000 jobs last month, falling short of forecasts.
▼ + stars: | 2023-11-03 | by ( Talmon Joseph Smith | More About Talmon Joseph Smith | ) www.nytimes.com time to read: +1 min

“This is mildly concerning but for now, these are still strong numbers,” said Sonu Varghese, chief market strategist at Carson Group, an asset management firm. The October numbers may have been held down because the survey was taken during major work stoppages — notably the strikes by the United Automobile Workers and related layoffs. has reached tentative contract agreements with the three major U.S. automakers and told striking members to return to their jobs. Some 96,000 people reported being out of work because of a strike or labor dispute in October, the most since 1997. But she added that unemployment would have to tick higher over a longer horizon for it to be clear that recession risks were heightened.

Persons: ”, Sonu Varghese, Claudia Sahm Organizations: Carson Group, United Automobile Workers, Federal Reserve

The report is also expected to find that gains in average hourly earnings were solid but decelerated to 4 percent from a year earlier. The September report showed an unexpectedly strong gain of 336,000 jobs — a figure that will be revised Friday — and a year-over-year wage gain of 4.2 percent. has reached tentative contract agreements with the three major U.S. automakers and told striking members to return to their jobs. “We expect the October employment report to show a large deceleration in job growth, although the moderation will be overstated by the impact of striking autoworkers,” Nancy Vanden Houten, lead U.S. economist at Oxford Economics, said in a note. “Excluding those workers,” she added, “job growth will still be relatively robust, although narrowly based.”Since early 2022, the benchmark interest rate set by the Federal Reserve has surged from near zero to more than 5 percent.

Persons: Nancy Vanden Houten, Jerome H, Powell, Mr, “, ” Organizations: Bloomberg, United Automobile Workers, Oxford Economics, Federal Reserve

Persons: Nancy Vanden Houten, Jerome H, Powell, Mr, “, ” Organizations: Bloomberg, United Automobile Workers, Oxford Economics, Federal Reserve

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