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☆ American Workers Testing Positive for Marijuana Reaches 25-Year Record
▼ + stars: | 2023-05-18 | by ( Anne Marie Chaker | ) www.wsj.com time to read: 1 min

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☆ American Workers Testing Positive for Marijuana Is at 25-Year High
▼ + stars: | 2023-05-18 | by ( Anne Marie Chaker | ) www.wsj.com time to read: 1 min

☆ How do you solve a problem like AI? Tax it
▼ + stars: | 2023-05-18 | by ( John Foley | ) www.reuters.com time to read: +6 min

The chances of “generative AI” being put back in its box are very small. Goldman Sachs economists estimate that 18% of work could be automated globally, and that 7% of the U.S. workforce might be substituted by AI. Moreover, while AI will create profit windfalls, many countries don’t tax those as effectively as they ought to. But a dollar of saved costs for a company creates only 21 cents in corporate income tax revenue. Capital gains are still taxed below the level of income in most countries.

☆ A Historic Breach of Fiduciary Duty
▼ + stars: | 2023-05-16 | by ( Marlo Oaks | Todd Russ | ) www.wsj.com time to read: +1 min

Highlights from a Fox Business interview with Jamie Dimon, in which the J.P. Morgan CEO discussed issues surrounding his WSJ op-ed, 'The West Needs America's Leadership.' Image: Zuma Press Composite: Mark KellyMany American workers don’t realize that their hard-earned money is being used against them. It is perhaps the most severe breach of the fiduciary standard in American history. Treasurers and other state financial officers are fiduciaries—legal stewards of Americans’ retirement assets, not the owners of those assets. Lately such proposals have included requests that U.S. financial institutions align their lending, financing and underwriting activities with a net-zero-emissions world.

☆ Can the World Make an Electric Car Battery Without China?
▼ + stars: | 2023-05-16 | by ( Agnes Chang | Keith Bradsher | ) www.nytimes.com time to read: +10 min

China controls 6% of the world’s nickel 78% of graphite 5% of manganese China controls 6% of the world’s nickel 78% of graphite 5% of manganese Source: CRU Group, U.S.G.S. China makes 73% of NMC cathodes 99% of LFP cathodes China makes 73% of NMC cathodes 99% of LFP cathodes Source: CRU Group Note: Data for “NMC cathodes” category includes NMC, NCA, NMCA; “LFP cathodes” includes LFP, LMFP. China makes 66% of the world’s battery cells 2.8” Cathode Each car has thousands of cells. China makes 54% of the world’s electric cars China makes 54% of the world’s electric cars Source: IEA Note: Data for 2021American investors remain wary about putting money into electric vehicles. Electric car buyers in China get tax rebates, cheaper vehicle registration, preferential parking and access to an extensive charging network.

☆ Biden Vetoes Legislation That Would Reinstate Tariffs on Some Solar Panels
▼ + stars: | 2023-05-16 | by ( Zolan Kanno-Youngs | ) www.nytimes.com time to read: +1 min

President Biden vetoed legislation on Tuesday that would have reinstated tariffs on solar panels from Chinese companies in Southeast Asia that had been found to be imported into the United States in violation of trade rules. The Senate narrowly passed the resolution this month, with several key Democrats supporting the measure, in a sharp rebuke to Mr. Biden. The president announced a two-year pause on the tariffs last year after importers complained that the penalties would threaten broader adoption of solar energy in the United States. “Passage of this resolution bets against American innovation,” Mr. Biden said in a statement on Tuesday. Critics said the suspension on tariffs failed to defend American workers and solar manufacturers, who have pushed the administration to block the importing of cheap products.

☆ Biden promised student-loan borrowers cheaper payments and more debt relief. The government might not have enough money for everyone to actually get those benefits.
▼ + stars: | 2023-05-13 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +9 min

With broad student-debt relief, many student-loan borrowers anticipate reforms to payment programs. Congress didn't increase funding for Federal Student Aid last year, and the impacts already show. Federal student-loan borrowers are facing a consequential year ahead. Alex Wong/Getty Images'We really need to be worried and concerned'The issue of a lack of funding, and how it impacts student-loan borrowers, has been on some Democratic lawmakers' radars. "That's why I'll continue to fight for the increased funding the Student Aid Administration needs to provide quality services and support at-risk borrowers," she said.

☆ Forget summer Fridays: These 9 European countries guarantee workers at least 5 weeks of paid vacation per year
▼ + stars: | 2023-05-13 | by ( Hannah Towey | ) www.businessinsider.com time to read: +1 min

But in several European countries, taking five weeks of paid vacation per year is a legal right. Swedish workers are guaranteed up to four consecutive weeks of paid summer holiday. For some lucky Americans, that might mean two weeks of paid time off and an occasional summer Friday. While two weeks of vacation may feel indulgent by US standards, employees in European Union member states have the legal right to at least four weeks of paid vacation per year — and some countries require employers to give their workers even more. From France to Austria, these are the nine European countries where companies are required to give their staff a minimum of five weeks of paid vacation per year.

☆ A writer who moved from Pennsylvania to Belize for a cheap and laid-back life said it's saved her money but the newfound peace of mind is priceless
▼ + stars: | 2023-05-10 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +4 min

Cristina Johnson moved from Pennsylvania to Belize in 2015. Johnson said living in the small Central American nation improved her finances and quality of life. Cristina Johnson moved to Belize in 2015. Courtesy of Cristina Johnson. Courtesy of Cristina Johnson.

☆ Don't try to be friends with your boss, says workplace coach—here’s why
▼ + stars: | 2023-05-08 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

No matter how great of a relationship you have with your boss, it's generally not the best idea to be friends with them. That's because a personal relationship can make things complicated when they may need to make difficult decisions, says Phoebe Gavin, a leadership and workplace coach. "At the end of the day, if your boss's boss says, 'Hey, we can't afford to employ your friend anymore. You need to lay them off,' you know what your boss is going to do? Interpersonal connections are important in the workplace, but they "can't be the foundation of your professional relationship with your boss or your colleagues," Gavin says.

☆ Wages Grow Steadily, Defying Fed’s Hopes as it Fights Inflation
▼ + stars: | 2023-05-05 | by ( Jeanna Smialek | ) www.nytimes.com time to read: 1 min

Average hourly earnings climbed by 4.4 percent in the year through April. That compared with 4.3 percent in the previous month, and was more than the 4.2 percent that economists had expected. The increase in wages compared with the previous month — at 0.5 percent — was the fastest since March 2022. The hourly earnings measure can bounce around from month to month, so it is possible that the April increase is a blip rather than a reversal in the trend toward cooler wage gains. Even so, the data underscored that the Fed faces a bumpy road as it tries to slow the economy and bring inflation under control.

☆ Wages climb rapidly, defying the Fed’s hopes for a slowdown.
▼ + stars: | 2023-05-05 | by ( Jeanna Smialek | ) www.nytimes.com time to read: 1 min

Average hourly earnings climbed by 4.4 percent in the year through April. That compared with 4.3 percent in the previous month, and was more than the 4.2 percent that economists had expected. The increase in wages compared with the previous month — at 0.5 percent — was the fastest since March 2022. The hourly earnings measure can bounce around from month to month, so it is possible that the April jump is a blip rather than a reversal in the trend toward cooler wage gains. Even so, the data underscored that the Fed faces a bumpy road as it tries to slow the economy and bring inflation under control.

☆ You don't need a college degree to work for this member of Congress
▼ + stars: | 2023-05-04 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +6 min

College degree requirements lock millions of Americans out of jobs. Persistent labor shortages have caused some states and companies to drop degree requirements. However, persistent labor shortages have helped call such degree requirements into question. Craig said she is the first member of Congress to officially drop degree requirements for congressional staff. "Every job description should consider: Does this job actually need a four-year degree," or is relevant experience sufficient, she said.

☆ Congress Clashes With Biden Over Tariffs on Illegal Chinese Solar Panels
▼ + stars: | 2023-05-03 | by ( Ana Swanson | ) www.nytimes.com time to read: +1 min

The Senate voted on Wednesday to reinstate tariffs on solar panels from Chinese companies in Southeast Asia that had been found to be coming into the United States in violation of trade rules. The measure, which passed by a vote of 56 to 41, had already been approved by the House. It sets up a showdown with the Biden administration, which had temporarily halted the tariffs to try to ensure that the country had an adequate supply of solar panels in the fight against climate change. But the measure, which several key Democrats supported, was a notable rebuke of the Biden administration’s actions. Critics have said that Mr. Biden’s decision not to impose the tariffs on the Chinese solar makers violated U.S. trade rules and failed to defend American workers.

☆ Column: Inflation and the markets take a bite out of retirement confidence
▼ + stars: | 2023-05-02 | by ( Mark Miller | ) www.reuters.com time to read: +6 min

But persistent inflation and last year’s sharp stock market decline have shaken the confidence of American workers and retirees about their retirement prospects in a way not seen since 2008. That is the key finding of the 2023 Retirement Confidence Survey - the longest-running survey of its kind measuring worker and retiree confidence. But inflation affects everyone, and it is a constant risk factor in retirement plans - even when it is not making headlines. For starters, most retirees depend on Social Security for a substantial portion of retirement income - and it comes with built-in inflation protection. This year, the COLA was a whopping 8.7%, the largest inflation adjustment in four decades.

☆ Americans Losing Faith They Will Have Enough Money for Retirement
▼ + stars: | 2023-04-29 | by ( Anne Tergesen | ) www.wsj.com time to read: 1 min

Workers and retirees have less faith they will have enough money to live comfortably through retirement as a result, in part, of high inflation and last year’s stock-market decline. In a long-running survey whose results were released Thursday, 64% of those still working reported feeling confident about their financial prospects during retirement. Last year, 73% of respondents were optimistic. Around 18% of surveyed American workers feel very confident, down from nearly 30% a year ago.

☆ Royal Caribbean's CEO made over $10 million in 2022 — 705 times more than company's median worker
▼ + stars: | 2023-04-27 | by ( Hannah Towey | ) www.businessinsider.com time to read: +3 min

Royal Caribbean Group CEO Jason Liberty made $10.76 million in 2022, regulatory filings show. Meanwhile, crew members onboard Royal Caribbean's ships made a median annual wage of $15,264. Royal Caribbean Group's CEO Jason Liberty made over $10 million in 2022, approximately 705 times the median annual wage of the cruise giant's shipboard crew members, regulatory filings show. Meanwhile, crew members working onboard Royal Caribbean's ships took home a median yearly salary of $15,264 in 2022, according to the company's estimates. On a single cruise ship, crew members may represent over 100 countries around the world.

☆ Meet a teacher who quit her job to avoid returning in person — and found a position at a remote-only public school
▼ + stars: | 2023-04-27 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +5 min

A New York City teacher quit her job in March after 12 years at the school. She teaches music and describes the shift to remote learning at the beginning of the pandemic as one that triggered a professional change, too. Parkis is one of many Americans who prefer remote working, even as companies have attempted to entice — and in some cases, strong-arm — employees back to the office. She was teaching full time at a Brooklyn, New York, middle school for 12 years and said her school ended remote learning last year. When she did, she quit right away and began her post at a fully online public school.

☆ GE's largest union ratifies 2-year contract extension with wage hike
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +1 min

April 19 (Reuters) - General Electric Co's (GE.N) workers have ratified a two-year contract extension that provides for a 12% rise in wages, their union said on Wednesday. The contract extension, which covers about 3,000 American workers of GE, will also ensure labor protections after the spinoff of the company's aerospace and energy divisions, according to the International Union of Electric Workers - Communications Workers of America (IUE-CWA). GE is set to separate its aerospace and energy businesses in early 2024 to become GE Aerospace and GE Vernova, respectively. The contract extension will take effect on July 1 and continue through June 22, 2025. Separately, eight local unions that together cover about 400 employees also ratified contract extensions with the company, GE said on Tuesday.

☆ Yellen to lay out U.S. economic priorities on China in Thursday speech
▼ + stars: | 2023-04-18 | by ( ) www.reuters.com time to read: +3 min

Yellen, who said last week she still hopes to visit Beijing to meet with her new Chinese economic counterparts, will deliver remarks at Johns Hopkins University's School of Advanced International Studies, the Treasury said in a statement. Yellen's speech will detail the Biden administration's economic priorities on China, including securing U.S. national security interests, fostering "healthy" competition and cooperating, where possible, on global issues such as climate change, debt relief and macroeconomic stability. Yellen also is expected to highlight U.S. economic strength. A Treasury official said the speech comes at an opportune time just after Yellen also spoke last week with counterparts from G7 democracies, Australia and New Zealand. Another audience for the remarks is China's new economic leadership team led by Liu's replacement, Vice Premier He Lifeng.

☆ The US is one of the only countries that doesn't guarantee paid vacation — here are 25 places where workers get a full month off
▼ + stars: | 2023-04-13 | by ( Hannah Towey | ) www.businessinsider.com time to read: +2 min

The US is one of the only countries in the world that does not guarantee workers paid time off. 25 countries provide at least 28 days of paid vacation per year, according to a recent study. Do you live or work in a country that guarantees paid vacation? That's because the US is the only advanced economy in the world that does not have federally mandated paid vacation for its workers. According to 2022 data analyzed by the software development company Resume.io, a total of 25 countries around the world guarantee workers at least 28 days of paid vacation (not including holidays).

☆ 29-year-old earns $187,000 and only works 9 months a year — and his job doesn't require a bachelor's degree
▼ + stars: | 2023-04-08 | by ( Ryan Ermey | ) www.cnbc.com time to read: +5 min

"I absolutely love living in Spartanburg and being a travel nurse. I'm able to have a high salary as a travel nurse, but come back to where the cost of living is low." Tucker began his career as a travel nurse after earning an associate's degree. "I'm away from home, I'm away from family, I'm away from my dog," says Tucker. CHECK OUT: 29-year-old travel nurse seized a chance to make $187,000 and only work 9 months a year: It’s ‘a once-in-a-lifetime opportunity’

☆ South Korean millennials and Gen Z are raging against the idea of a 69-hour workweek. They are tired, having fewer babies, and are even working themselves to death.
▼ + stars: | 2023-04-06 | by ( Nidhi Pandurangi | Reena Koh | ) www.businessinsider.com time to read: +6 min

The South Korean government wants to increase the workweek to 69 hours. The 69-hour limit relates to a six-day workweek, while the 80.5-hour limit is applicable for a seven-day workweek, according to South Korean outlet Han Kyeo Re. In 2020, 14 delivery couriers in South Korea died of overwork stemming from increased deliveries during the COVID-19 pandemic, Reuters reported, citing a union representative. Notably, the culture of long working hours and death linked to overworking is not specific to South Korea. However, the government is trying to disconnect longer working hours from low birth rates.

☆ Work-Life Balance Is Harder to Find Thanks to Pandemic and Office Mandates
▼ + stars: | 2023-04-06 | by ( Kelli María Korducki | ) www.businessinsider.com time to read: +14 min

The insidious creep of job burnout was inescapable when I spoke with more than a dozen ambitious midcareer women for an article last winter. While work friendships can stifle loneliness, the centrality of a job in American social life does not bode particularly well for Americans' work-life balance. For those who've put all their eggs in the proverbial basket of their job, Koretz said, these times of transition can trigger a kind of identity crisis. The idea is that you just work and work and work and work and work. Workers can also take small steps toward improving their work-life balance by setting aside time each day and each week for nonwork priorities.

☆ ChatGPT is strengthening the case for a 4-day workweek
▼ + stars: | 2023-04-04 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

Such a productivity boost could make a four-day workweek more possible. Calls for implementing a four-day workweek have picked up steam over the past year as pilot programs have described promising results. "Any technology that increases productivity, ChatGPT included, makes a shorter workweek more feasible," Carl Benedikt Frey, an Oxford economist, told Insider. 'The workweek length is up for grabs'Rep. Mark Takano, a Democrat from California, is among those advocating a four-day workweek. "Yes, ChatGPT might make a four-day workweek more feasible in principle," Frey said.

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