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Read previewThe Biden administration this week pushed out a slate of rules it says are meant to boost competitiveness and put more money into workers' pockets. There are already challenges to at least one of the rules — but together they could land overtime pay for millions more workers, ban noncompetes that prevent workers from moving into jobs in similar industries, and help people get automatic refunds for delayed or canceled flights. More workers eligible for overtime payUnder the Department of Labor's new rule, many workers who make under $43,888 will be eligible for overtime pay effective July 1. A ban on noncompetes that keep workers from taking new jobsPerhaps the most sweeping action for workers came from the Federal Trade Commission, which finalized a rule to ban noncompetes in most cases. Will a ban on noncompetes, new overtime thresholds, or airline refunds affect your life?
Persons: , Biden, Lael Brainard, That's, it's, Judy Conti, Pete Buttigieg, Brainard, Aaron, Ryan, John Smith, Suzanne Clark, Jeremy Merkelson, Davis Wright Tremaine, Merkelson, Elizabeth Wilkins, Wilkins Organizations: Service, Business, National Economic Council, Department of, National Employment Law, of Transportation, Federal Trade Commission, . Upjohn Institute, Employment Research, of Commerce, Texas Association of Business, Federal Trade, Chamber of Commerce, FTC
Ten years ago this week, The New York Times introduced the Upshot, a section devoted to explaining “politics, policy and everyday life.” That’s a wide scope, by design. As a result, more than 5,000 articles later, the Upshot has been many things to many readers. To mark our 10th birthday, we’ve collected 100 stories that embody the Upshot. WordleBot Eden Weingart/The New York Times When Wordle first became popular, several people on the internet claimed, plausibly, that they had come up with the “best” opening word. Force of Ship Impact Was on the Scale of a Rocket Launch Erin Schaff/The New York Times We think of the Upshot as a place where back-of-the-envelope calculations can be both helpful and welcome.
Persons: , Nate Cohn’s, we’ve, Kevin Quealy, John Branch, John, Patrick Thomas, tut, Trump, pollsters, Obamacare, Leif Parsons, We’re, Jason Henry, Tony Luong, Jordan, , Ruth Fremson, Laurel, ’ Rodrigo Corral, Alex Welsh, Paul Romer, Tim Enthoven, Barack Obama, epidemiologists, It’s, you’re, WordleBot Eden, Wordle, Lila Barth, McCabe, Tom Brady, ChatGPT, , Erin Schaff Organizations: New York Times, Facebook, Yankees, Red, State Newspaper, ESPN, The Athletic, The Times, You’re, Voters, Trump, Mr, Times, Siena College, Walmart, The New York Times, Jordan Siemens, Health, New, Nike, Democratic, Twitter, America, Iowa, Iowa Democratic, Cancer, Hit, Biden, Insurance, Roe America, Disorders, Republican, Republican Party of, U.S, Budget, NASA, National, Traffic, Administration, Yorkers, Force Locations: It’s, Red Sox, State, America, Dakota, Ireland, Chipotle, Japan, U.S, United States, Siena, New Pennsylvania, District, Iowa, Covid, York City, New York, Pennsylvania, Roe, Tonga, Arizona, York, Holland
Protect Social Security!" In 1983, when the last major Social Security reforms were enacted, there were no benefit enhancements, Larson argued. Today, annual earnings of up to $168,600 are subject to a 6.2% payroll tax toward Social Security paid by both workers and employers. Larson's plan also calls for closing loopholes that allow wealthy taxpayers to avoid paying Social Security taxes on other income. Larson said the public is well aware that Social Security benefits are theirs and they've paid for them.
Persons: Kean, Dave Kotinsky, Larson, they've, John Larson, Conn, Mark Wilson, Nancy Altman, Drew Ferguson, Ferguson, Jodey Arrington, Charles Blahous, Blahous Organizations: Getty, hasn't, Social Security, Security, Social, Capitol, Democratic, Republican, Republican House, Republicans, George Mason University Locations: Bridgewater , New Jersey, Jan, Georgia, Texas
The richest of the rich live in Washington, D.C., where it takes a salary of $719,000 to land in the top 5% of earners. Washington state has seen the most dramatic growth in what it takes to be rich in recent years, according to the report. By 2022, the salary it takes to stay at that level is more than $544,000. Back then, only Connecticut and Washington, D.C., had a 5% top-earning threshold of $500,000. Here's the salary it takes to be considered in the top 5% of earners in each state, listed alphabetically, plus Washington, DC:
Persons: Andrew Murray, Murray Organizations: Washington , D.C, Survey, Amazon, GoBankingRates, D.C Locations: America, Washington ,, Connecticut, Washington, Seattle, U.S, Washington , California , Massachusetts, Hawaii, Virginia, Colorado , New York , New Jersey , Illinois, Maryland, DC
The Fed aims to keep inflation at 2% over the longer run. Meanwhile, among the 20 countries that use the euro, annual consumer price inflation has slowed steadily since the start of the year. Fed Governor Michelle Bowman said earlier this month that she would favor a rate hike “should progress on inflation stall or even reverse.”So why does the United States appear to have a bigger inflation problem than Europe? Some economists argue there isn’t actually much daylight between the US and European rates of inflation, pointing to a quirk in the US measures. The measure is designed to track inflation in the real estate market while accounting for the fact that most Americans own their homes.
Persons: Michelle Bowman, Paul Donovan, Simon MacAdam, , MacAdam, ” Carsten Brzeski, Janet Yellen, Jim Watson, Brzeski, , ” Davide Oneglia Organizations: London CNN, Federal Reserve, European Central Bank, PCE, UBS Global Wealth Management, Capital Economics, ING, CNN, Monetary Fund, Washington, Reuters, Getty, , ECB, Lombard Locations: United States, Europe, Centreville , Maryland, AFP, Russia, Ukraine
Salaha Ashraf spent her last few years of medical school feeling stressed and anxious. Ashraf went to medical school in 2014 but pivoted into a corporate career after deciding she didn't want to be a doctor. I felt more passionate about business management after one year compared to four years of medical school. I don't wish I was a doctorI try to look back at medical school in a positive light. If I felt empowered to follow my passion, maybe I would have studied psychology, which I found interesting at school.
Persons: Salaha Ashraf, , Ashraf, I've, I'd Organizations: Service, NHS, Business Locations: Bolton, England
BlackRock , the largest asset manager, has launched a new product to help workers their retirement savings into a regular income stream that mimics the paycheck they receive during their working years. "We're talking about a revolution in retirement," BlackRock CEO Larry Fink wrote of LifePath Paycheck in his recent annual letter to investors. While they receive that income, the rest of their retirement savings may continue to grow. A recent BlackRock survey found 60% of employees worry they may outlive their retirement savings. For now, the LifePath product is limited to plans offered through employers.
Persons: Larry Fink, Anne Ackerley Organizations: BlackRock, Finance, Security, Transamerica Center, Retirement Locations: BlackRock, New York
Another lawsuit was filed in federal court in the Northern District of Texas by business tax services firm Ryan. “The FTC contends that by using regulation they can simply declare common business practices to be ‘unfair methods of competition’ and thus illegal. “If the FTC can regulate noncompete agreements, then they can decide to regulate or even ban any other business practice. Long delays may be on tap before the rule takes effectThe FTC rule isn’t set to go into effect until 120 days from the day it is published in the Federal Register. In the near term, “I’m generally telling clients to take a wait-and-see approach with respect to the FTC rule while court challenges play out in the next few weeks,” Turinsky said.
Persons: Ryan, , Daniel Turinsky, DLA Piper, Lina Khan, Jake Tapper ”, isn’t, , ” Turinsky, James Witz, ” Witz Organizations: New, New York CNN, Federal Trade Commission, US Chamber of Commerce, Business, Eastern District of Texas, Northern District of, US Chamber, FTC, Chamber, Longview Chamber, Commerce, Federal Locations: New York, United States, Eastern District, Northern District, Northern District of Texas, Longview, Longview , Texas, Texas, Littler
Landing a tech job on Wall Street has never been simple, but it's even less so today. But widespread layoffs in the tech sector have created a "glut of supply" of "mediocre talent," recruiters told Business Insider. That's not stopping Wall Street firms from tapping external recruiters to find technologists. Given the private nature of their work, recruiters usually keep their client list and searches close to the vest. For that reason, the specific clients most of these recruiters work with are not named.
Persons: we've, Ben Hodzic, Selby Jennings, Wall
Washington CNN —The US economy cooled more than expected in the first quarter of the year, but remained healthy by historical standards. Gross domestic product, which measures all the services and goods produced in the economy, measured an annualized rate of 1.6% in the first quarter, the Commerce Department reported Thursday. It was the weakest pace of growth since the second quarter of 2022 when the economy contracted. What this means for interest ratesInflation slowed considerably last year, but the pace of its descent has stalled in recent months. For now, economic growth remains healthy, despite the weaker-than-expected first-quarter GDP reading, as employers continue to hire at a solid clip and workers still command robust wage gains.
Persons: ” Oren Klachkin Organizations: Washington CNN, Federal Reserve, Gross, Commerce Department, Consumer, Nationwide, CNN
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThe FTC wants to give Americans the freedom to job-hop without pesky noncompete contracts getting in the way. The Federal Trade Commission voted 3-2 on Tuesday to approve a nationwide ban on noncompete agreements, the agency announced in a press release. The move could help American workers make $300 billion more a year, the FTC has previously said. Companies can keep existing contracts for some senior executives, but that will only affect about 0.75% of workers, the FTC said.
Persons: , pesky noncompete, Evan Starr, Lina M, Khan, Suzanne P, Clark Organizations: Service, Federal Trade Commission, FTC, Business, Employers, University of Maryland, New York Times, US, of Commerce, Commerce's, National Labor Relations Locations: California , Massachusetts, Illinois
Experts say tattoos can impact hiring decisions, especially in customer-facing roles. Putnam, from California, said she went into the store to ask why she hadn't gotten the job, and the hiring manager told her she didn't have enough experience. The hiring manager also denied that her tattoos played any role in the rejection. AdvertisementAnother commenter, who said they used to be a hiring manager for the store, said: "I will tell you it's the facial piercings and tattoos." Ivy Johnson, for example, who also has many tattoos, said she had worked in corporate America as a hiring manager before starting up her apothecary business.
Persons: , Ash Putnam, Maxx, Putnam, hadn't, Putnam wasn't, TikTok, Putnam's, Ivy Johnson, Johnson, Adam Collins, isn't, Michelle Enjoli, Enjoli, Justina Raskauskiene, Rachel Pelta, Pelta Organizations: T.J, Maxx, Service, Business, Pew Research, University of Miami, Daily Locations: California, America
New York CNN —JPMorgan Chase CEO Jamie Dimon is worried about the future of the free world. “The geopolitical situation is probably the most complicated and dangerous since World War II,” Dimon said during a talk at the Economic Club of New York on Tuesday. “The world order that formed after WWII, Bretton Woods, WTO [the World Trade Organization], and the UN is kind of being challenged,” he said. This is not the first time Dimon has warned that the world is on the brink of a massive realignment. The country’s national debt is now over $34.5 trillion, or about $103,000 for every American.
Persons: Jamie Dimon, ” Dimon, Dimon, Bretton, , That’s, , Jerome Powell, Niall Ferguson, Chris Isidore, Tesla, Elon Musk, Jeanne Sahadi, Joe Biden, “ won’t Organizations: CNN Business, Bell, New York CNN, JPMorgan, Economic, of New, World Trade Organization, UN, AAA, NATO, Atlantic Treaty Organization, Federal, Federal Trade Commission, FTC, of Commerce Locations: New York, of New York, Ukraine, NATO, Israel, US, China, Bretton Woods, WTO, Russia
Opinion: Why memes about Mommy and wine are no joke
  + stars: | 2024-04-24 | by ( Kara Alaimo | ) edition.cnn.com   time to read: +6 min
Editor’s note: Kara Alaimo, an associate professor of communication at Fairleigh Dickinson University, writes about issues affecting women and social media. At work, women on average earn just 84 cents for every dollar earned by men and are up against endless stereotypes about why they’re not leadership material. “Anyone who’s been on social media in the last ten years has seen the memes: ‘Mommy needs wine.’ ‘I wine because my kids whine.’ You can buy infant onesies that say ‘I’m the reason mommy drinks’ on Amazon,” Yvonne points out. It requires social structures such as an adequate childcare system and resources for women who need to leave abusive homes. We all also need to stop sharing jokes and memes that suggest it’s humorous for people of any gender to deal with the stresses they’re up against by imbibing carcinogens.
Persons: Kara Alaimo, Kara, Celeste Yvonne, it’s, Yvonne, they’re, who’s, ” Yvonne, , I’ve, Holly Whitaker, Carol Lee Flinders, ” Whitaker Organizations: Fairleigh Dickinson University, Women, Press, Facebook, CNN, JAMA, Pew Research Center, US Centers for Disease Control Locations: United States
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFTC votes to block most employers from enforcing noncompete clausesCNBC's Eamon Javers joins 'Power Lunch' to report on the FTC voting to block most employers from enforcing noncompete clauses.
Persons: Eamon Javers
"Standard benefits, like medical, dental, or vision care, are typically included in most employee benefits plans. "With workers of all ages repaying student debt, student loan assistance should be a key consideration in the enhancement of employee benefit programs," Newcome said. Non-traditional benefits could also convince workers to rethink remote workRethinking employee benefits could also be the key to enticing remote workers back to the office. Additionally, 69% said they would be willing to change their job or career for employer-based housing benefits. As the landscape of employee benefits evolves to meet the changing needs of the workforce, companies are becoming more innovative.
Persons: , John Newcome, Kelly, Newcome, Boring, Bonds Organizations: Service, Business, Employees, Walmart, SpaceX Locations: Austin, Bastrop
CNN —Millions of salaried workers will soon qualify for overtime pay under a final rule released by the US Department of Labor on Tuesday. The new rule raises the salary threshold under which salaried employees are eligible for overtime in two stages. About 4 million more workers will qualify for overtime when the rule is fully implemented in January, the agency estimates. “Too often, lower-paid salaried workers are doing the same job as their hourly counterparts but are spending more time away from their families for no additional pay. The salary threshold will be updated every three years, starting July 1, 2027, the agency said.
Persons: Julie Su, Trump, Obama, , , Ted Hollis, Brady, Sean Kennedy, DOL, Ben Brubeck, Barack Obama Organizations: CNN, US Department of Labor, Labor, Quarles, National Restaurant Association, Associated Builders and Contractors, Labor Department Locations: South, Texas
The Federal Trade Commission on Tuesday banned employers from limiting their workers’ abilities to work for rivals, a sweeping change that the agency says could help raise wages and increase competition among businesses. The move bars contracts known as noncompetes, which prevent workers from leaving for a competitor for a certain amount of time, in most circumstances. The agency has said the proposal would raise wages by forcing companies to compete harder for talent. The proposal was approved by the agency in a 3-to-2 vote. She estimated the decision would lead to 8,500 new start-ups created in a year.
Persons: Melissa Holyoak, Andrew N, Ferguson, , Lina M, Khan Organizations: Federal Trade Commission
The companies are asking federal courts, often with conservative, pro-business judges, to stop the agency from standing behind the more activist unions now making their lives more difficult. “The NLRB has long used the federal courts … to obtain injunctions … before the merits of an unfair labor practice case are fully evaluated,” said a statement from Starbucks. The employer doesn’t have to pay any interest, penalty or fine, to the fired workers, their union or the agency. While this is the first such case to reach the Supreme Court, other cases are emerging in which some high profile employers are challenging the agency’s right to exist. The Supreme Court’s decision is expected by the end of June.
Persons: Biden, , , , Jennifer Abruzzo, Cathy Creighton, Clinton, Elon Musk’s, Joe’s, Cornell’s Creighton, she’s, “ They’re, “ I’m Organizations: New, New York CNN, Starbucks, National Labor Relations Board, NLRB, Memphis, Cornell University’s, Industrial and Labor Relations, SpaceX, nonunion Locations: New York, Memphis, Buffalo , New York
FTC bans employers from using noncompete clauses
  + stars: | 2024-04-23 | by ( Jeanne Sahadi | ) edition.cnn.com   time to read: +5 min
New York CNN —The Federal Trade Commission on Tuesday voted to ban for-profit US employers from making employees sign agreements with noncompete clauses. And – with one exception – it makes currently existing noncompete agreements unenforceable after the rule’s effective date, which is set at 120 days from the rule’s publication in the Federal Register. The rule, however, does allow currently existing noncompete agreements for senior executives to remain in force. The ban would apply nationwide, overriding state laws regarding noncompete agreements. In December of last year, New York State Governor Kathleen Hochul vetoed a bill passed by the state legislature to completely ban noncompete agreements in that state.
Persons: Joe Biden, “ won’t, , Stefanie Camfield, Daryl Joseffer, , ” Joseffer, Neil Bradley, Kathleen Hochul, Anne Clark, Vladeck, Raskin, Clark P.C, Amanda Wait, DLA Piper, Clark Organizations: New, New York CNN, Federal Trade Commission, FTC, of Commerce, Federal Register, Washington , D.C, Engage, Chamber’s Litigation, New York Locations: New York, California, North Dakota, Oklahoma, Washington ,, Colorado , Maryland , Oregon, Rhode
Some career experts liken LinkedIn to a living, breathing CV, while others say they spend longer on a candidate's LinkedIn profile than on their résumé. Shah shared three other ways candidates can optimize LinkedIn to stand out to hiring managers. Treat your LinkedIn profile like a résuméPeople are used to enhancing their résumés to stand out in employers' keyword-searching software. Add those phrases to your LinkedIn profile too, because recruiters look for candidates by typing in industry-related keywords, Shah said. Related story"Candidates should include relevant keywords in the 'About' section and their last job experience position details," he said.
Persons: , Nick Shah, Shah, he'll Organizations: LinkedIn, Service, Gallup, Business, Peterson Technology Partners, Microsoft Locations: Park Ridge , Illinois
Wages for retail workers have been going up in recent years . SEC rules require publicly traded companies to disclose their workers' median annual pay. Here's the median wage for workers at 19 retail companies, from lowest to highest. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Ever since Amazon set its minimum wage at $15 in 2018, more retailers have followed suit by offering starting wages that are more than double the national minimum of $7.25.
Persons: Organizations: SEC, Service, Walmart, Target, , Business Locations: Lowe's
AdvertisementThe majority of so-called "peak boomers" have $250,000 or less in assets , according to a recent report, write Juliana Kaplan and Ayelet Sheffey. If you're a bit surprised by the dire economic situation of peak boomers, I wouldn't blame you. Older boomers had the benefit of employer-subsidized retirement plans before a shift in the workforce left younger boomers to fend for themselves. Alistair Berg/Getty ImagesPeak boomers' retirement struggles might end up being a wake-up call for younger generations. There will be plenty of lessons learned from peak boomers entering retirement without the safety net of a pension.
Persons: , blowup Jacob Wackerhausen, Jenny Chang, Rodriguez, Juliana Kaplan, Ayelet Sheffey, that's, we've, boomers, Alistair Berg, Xers, Gen Zers, Bryan Erickson, Jane Street, Chowdhury, Elon Musk, they'd, Tesla, Tony Stubblebine, Nick Little, Dani Widell, BI's Emily Stewart, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Business, Service, Social Security, Security, Google, Wall Street, JPMorgan, Detroit Police Department, Tesla, BI, Verizon Locations: Covid, China, Europe, Airbnb ., America, New York, London, Chicago
This lets the government tackle specific jobs and projects quickly without all the steps of regular government hiring and bureaucratic obstacles. Thomson ReutersThere are a wide range of large government contracting companies that the government regularly makes deals with. John Breth, 40, worked in government contracting roles for 12 years before starting his own contracting company. If awarded the contract, you have to meet specific requirements set by the government, which may involve getting clearances or certifications. Once you understand the landscape better, you'll be able to recognize which jobs you qualify for and define your path forward.
Persons: , Lockheed Martin, Lauren Irizarry, John Breth, Kevin Jennings, Jennings, you'll Organizations: Service, Department of Labor, Business, Raytheon, Thomson Reuters, Defense, Lockheed, Boeing, Northrop Grumman, Judge, US Small Business Administration Locations: Woburn, sba.gov
AdvertisementHuei Hann Pan and Bich Ha Pan in a photo displayed in "What Jennifer Did." While Pan lied about attending university, forging transcripts and pretending to attend classes in Toronto, Felix studied engineering at McMaster University. The evening of the November 2010 incident, he wasn't at home, Toronto Life reported. AdvertisementFelix testified during his sister's trialThe Toronto Sun reported that Felix was a witness during Pan's trial. Toronto Life reported in 2015 that Felix had moved to the east coast of Canada.
Persons: , Bich Ha, Huei Hann Pan, Jennifer Pan, Pan, Daniel Wong, wasn't, Felix, Here's, Huei Hann, Jennifer Did, Netflix Felix Pan wasn't, Bich, Hann, banister, — Wong, affirmatively, It's Organizations: Service, Netflix, Business, Ontario Appeal, Pan, Toronto Sun, McMaster University, Toronto Locations: Markham , Ontario, Ontario, Canada, Toronto, Markham
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