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☆ How an auto workers strike 87 years ago transformed America
▼ + stars: | 2023-09-17 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +6 min

The workers, members of the tiny United Automobile Workers union founded just a year prior, sought to improve brutal working conditions at mighty General Motors, the world’s largest manufacturer. The UAW’s sit-down strike across GM plants lasted 44 days. The 44-day strike birthed the United Auto Workers union. The UAW is calling its new strategy a “stand up strike,” a reference to the sit-down strike that started 87 years ago, and has launched targeted strikes at selected plants. The sit-down strike also prompted unionization and a wave of strikes in other industries.

Persons: Sheldon Dick, —, Shawn Fain, “ Shawn Fain, ”, Thomas Sugrue, GM foremen, Steven Greenhouse, Tom Watson, Frank Murphy, “, Joseph McCartin, Emily Elconin, Fain, McCartin Organizations: New, New York CNN, General Motors, Fisher, United Automobile Workers, GM, United Auto Workers, UAW, Detroit’s, Motors, Ford, New York University, American Labor, ” Strikers, Chevrolet, NY, Getty Images Police, Management, Flint police, Michigan Gov, National Guard, New York Times, Magazine, Chrysler, “ Auto, Georgetown University, Bloomberg, Getty, Unions, Current UAW Locations: New York, Flint , Michigan, America, Europe, Flint, Bettmann, Ford, Wayne , Michigan

☆ Americans Are Losing Faith in the Value of College. Whose Fault Is That?
▼ + stars: | 2023-09-05 | by ( Paul Tough | ) www.nytimes.com time to read: +2 min

Economists have a term for the gap that exists between the incomes of college graduates and high school graduates: the college wage premium. When employers want more college graduates, the premium goes up; when there is a surplus of college grads, the premium goes down. In theory, today’s sky-high college wage premium should mean a surge of young people onto college campuses, not the opposite. But as a measure of the true value of higher education, the college wage premium has one important limitation. Unlike the college wage premium, the college wealth premium looks at all your assets and all your debts: what you’ve got in the bank, whether you own a house, your student-loan balance.

Persons: Bill, Louis, you’ve, Louis — Lowell Ricketts, William Emmons, Ana Hernández Kent — Organizations: Federal Reserve Bank of St Locations: St

☆ What's open and closed on Labor Day, September 4 holiday
▼ + stars: | 2023-09-03 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +1 min

New York CNN —Labor Day is here, which means summer is winding down and schools are reopening. The first Monday in September also commemorates the American labor movement and contributions workers have made to the US economy. But if you have errands to run, here are the businesses and institutions that will be open and closed on Monday, September 4. Kena Betancur/VIEWpress/Corbis/Getty ImagesMost Walgreens and CVS (CVS) stores will be open during normal hours as well. CVS (CVS) said to call ahead to local stores as some pharmacy hours may be reduced, and other locations could be closed.

Persons: Kena Organizations: New, New York CNN, Labor, Walmart, Kroger, KR, Costco, Walgreens, CVS, United States Postal Service, FedEx, FedEx Office, Banks Labor, NASDAQ, New York Stock Exchange, Government Federal Locations: New York, Teterboro , New Jersey, State

☆ August Jobs Report U.S. Job Growth Expected to Cool
▼ + stars: | 2023-09-01 | by ( Lydia Depillis | Joe Rennison | ) www.nytimes.com time to read: +2 min

Forecasters believe that trend continued in August, estimating that the Labor Department’s monthly report on Friday will show the addition of 170,000 jobs. That would be a decrease from the 218,000-job average over the previous three months, and closer to the number needed to employ the approximately 140,000 people who enter the labor force each month. But analysts say the Federal Reserve’s push to cool rapid inflation by ratcheting up borrowing costs — and the impact on hiring — has a ways to go. Immigrants work at higher rates than the American-born population, in which labor force participation is declining as people age into retirement. Already, Americans are feeling the difference: In the Conference Board’s reading of consumer sentiment for August, the share of workers saying jobs were “hard to get” increased sharply, while the share saying jobs were “plentiful” fell.

Persons: —, ’ ”, Stephen Juneau, Bank of America Merrill Lynch, “ There’s, we’ve Organizations: Labor, Bank of America Locations: American, ”

☆ UPS and Teamsters reach a labor deal, potentially avoiding a crippling strike
▼ + stars: | 2023-07-25 | by ( Vanessa Yurkevich | ) edition.cnn.com time to read: +2 min

CNN —UPS and the Teamsters have reached a tentative deal on a new contract. “UPS and the International Brotherhood of Teamsters, the union representing about 330,000 UPS employees in the U.S., have reached a tentative collective bargaining agreement,” the company said in a statement. The pandemic sent lower- and middle-class US workers’ pay surging for the first time in decades, but contract workers missed out on much of those gains. That’s why unionized actors, writers, nurses and teachers have recently gone on strike, and UPS workers and autoworkers have threatened walkouts. Terms of the tentative agreement are not yet known.

Persons: ”, Carol Tomé, Sean M, “ We’ve Organizations: CNN — UPS, Teamsters, UPS, International Brotherhood of Teamsters Locations: U.S

Trouble in TinseltownIt’s happening: America’s $134 billion movie and TV industry has ground to a halt after the Hollywood actors’ union voted to strike, joining screenwriters and shutting down virtually all productions. The move reflects the growing aggressiveness of the American labor movement, which has been battling against Starbucks, Amazon, UPS and others. The actors’ union blasted studios for refusing to bend on key issues, including higher payouts from streaming titles and clear limits on the use of artificial intelligence. Shame on them!”The studios argue that the unions’ demands are unrealistic, given the challenges the entertainment industry faces, from streaming to fallout from the pandemic. “This is the worst time in the world to add to that disruption,” Bob Iger, Disney’s C.E.O., said on CNBC yesterday.

Persons: ’, ” Fran Drescher, Bob Iger, Disney’s Organizations: Hollywood, Starbucks, SAG, CNBC Locations: Amazon, —

☆ The U.S. Job Market Remains Unexpectedly Strong
▼ + stars: | 2023-05-05 | by ( Matthew Cullen | ) www.nytimes.com time to read: 1 min

Surprising job numbersThe American labor market is proving to be unexpectedly resilient despite some big headwinds, including the Federal Reserve’s attempts to slow down the economy by hiking interest rates. Data released today showed that employers added 253,000 jobs last month, far more than expected. Wages rose and the unemployment rate fell to 3.4 percent, matching January’s level, which was the lowest since 1969. “I don’t make predictions,” my colleague Ben Casselman told me. “But honestly, I was bracing for this morning’s report to show a sharp downturn, and instead it showed the opposite.”The job market’s continued strength is a problem for Fed officials, who are hoping that the broader economy will cool off in order to tame inflation.

☆ What the April jobs report means for you, your employer, and the Fed
▼ + stars: | 2023-05-05 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

Minneapolis CNN —High prices, rising interest rates and banking uncertainty be damned: The US labor market is still chugging right along. “The American labor market right now is simply unstoppable,” RSM economist Joseph Brusuelas wrote in a note Friday. “This is what a soft landing would look like, with job growth gradually slowing to a more sustainable pace,” Faucher added. The milestone comes just three years after the Covid-19 pandemic caused mass layoffs that pushed the Black unemployment rate as high as 16.8%. “Make no mistake, the Black [unemployment] rate is still too high,” Shierholz tweeted.

☆ Young people haven't been taught the 'value of work,' says Ronald Reagan's education secretary
▼ + stars: | 2023-04-10 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

Young people haven't been taught the "value of work," Bill Bennett told Fox Business. Reagan's education secretary said he was "very concerned" about young people's attitudes towards work. Research from two University of Maryland professors found that the average US work week had overall fallen by more than 30 minutes since before the pandemic. "We haven't talked to them about the value of work, we haven't taught them," he continued. "Are parents talking to their kids about work and why they work and how important it is?

☆ American labor shortage is a rose with many thorns
▼ + stars: | 2023-03-07 | by ( Ben Winck | ) www.reuters.com time to read: 1 min

WASHINGTON, March 7 (Reuters Breakingviews) - The short supply of US workers is starting to look more permanent than temporary. In this Exchange podcast, former White House economist Jason Furman explains how near-record job openings could lift prices, and why unemployment probably needs to rise for inflation to cool off. /div>Listen to the podcastFollow @BenWinck on TwitterSubscribe to Breakingviews' podcasts, Viewsroom and The Exchange. Editing by Thomas ShumOur Standards: The Thomson Reuters Trust Principles. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Report says Americans are half as likely to be on vacation now as they were in the 80s, but why?
▼ + stars: | 2023-02-10 | by ( ) www.businessinsider.com time to read: +2 min

The Washington Post analyzed vacation data over decades to find out why Americans take vacation less often than they used to. Many workers have PTO, personal days, and sick days lumped into the same pool of time. Blue-collar workers, such as construction workers, are the least likely to be on paid vacation, while teachers are the most likely to take time off. Older and more educated workers also are more likely to be on vacation, according to the Post. Also, workers' paid time off plans increasingly lump vacation, sick, and personal days into one category, the Post reported.

☆ The unemployment rate is at its lowest since 1969
▼ + stars: | 2023-02-03 | by ( Juliana Kaplan | Andy Kiersz | ) www.businessinsider.com time to read: +3 min

The US added over half a million jobs and unemployment fell in January, according to the Bureau of Labor Statistics. The unemployment rate is now at its lowest since 1969, easing fears of a potential downturn. Indeed, hiring was booming so much that the unemployment rate fell to 3.4%. That's the lowest rate since 1969. That's right: The US hasn't seen an unemployment rate this low since the moon landing.

☆ Nevada is 1 of 5 states with over 10% Asian Americans. Both parties courted vote, but Dems won out.
▼ + stars: | 2022-11-19 | by ( Kimmy Yam | Kimmy Yam Is A Reporter For Nbc Asian America. | ) www.nbcnews.com time to read: +7 min

In the highly competitive swing state of Nevada, both parties aggressively courted Asian Americans and Pacific Islanders ahead of last week's midterm elections, but Democrats managed to clinch the group's vote. Koo said both parties made significant efforts to appeal to Asian Americans, particularly in comparison to elections past. “The main industry there is service and hospitality, and there’s a lot of Asian Americans that are employed by that industry,” Wong said. Democratic candidates in Nevada, who are often more moderate than those on the coasts, may naturally align more with the Asian American community. “We’re starting to see with younger Asian American voters, climate is a huge conversation that everyone is having.

☆ Morning Bid: Markets defy COVID blues
▼ + stars: | 2022-11-07 | by ( Clyde Russell | ) www.reuters.com time to read: +2 min

Elsewhere, The Guardian reported that British Finance Minister Jeremy Hunt is set to outline up to 60 billion pounds of tax rises and spending cuts next week, including at least 35 billion pounds ($39.56 billion) in cuts in the backdrop of the Bank of England's recession warning. Stock markets in the region chalked up gains across-the-board, underpinning Friday's rise in global shares after jobs data came in stronger than expected but also hinted at some slack in the tight American labor market. And staying on what the world's richest man is up to, Elon Musk laid out Twitter's mission, sparking debate on content accuracy. Twitter also updated its app to begin charging $8 for its sought-after blue check verification marks as it seeks to shore up revenue. China stocksReuters Graphics Reuters GraphicsKey developments that could influence markets on Monday:Economic data: Germany Sep industrial output, UK Halifax Oct house prices, Euro zone Oct PMISpeakers: ECB Board member Fabio Panetta speaksEuropean earnings: RyanairReporting by Anshuman DagaOur Standards: The Thomson Reuters Trust Principles.

☆ Global shares rise, U.S. dollar falls after strong jobs data
▼ + stars: | 2022-11-04 | by ( Chibuike Oguh | ) www.reuters.com time to read: +2 min

However, the data also showed some easing of labor market conditions, with unemployment rising to 3.7% from 3.5% in September while wage inflation dropped to 4.7% from 5% in the prior month. The MSCI index of global shares (.MIWD00000PUS), which tracks equities in 50 countries, broke two straight days of losses and was up 3.05%. On Wall Street, the benchmark S&P 500 was trading slightly higher, driven by stocks in financials, consumer discretionary, materials, and industrials. The Dow Jones Industrial Average (.DJI) rose 0.18% to 32,058.83, the S&P 500 (.SPX) gained 0.10% to 3,723.67 and the Nasdaq Composite (.IXIC) dropped 0.15% to 10,327.19. Safe-haven gold jumped more than 2% as the dollar fell.

☆ Gen Z's not lazy — they're just refusing to put up with the toxic work culture that Boomers created
▼ + stars: | 2022-11-03 | by ( Kim Kelly | ) www.businessinsider.com time to read: +12 min

"And I personally think that all of us in Gen Z, when we experienced that with our parents, we were like, 'Fuck that. And now, Gen Z is turning to organizing as a way to stand up to corporate bosses. But she and her Gen Z peers are not ready to accept that mode of thinking. Put simply, young workers want something better than their parents had and aren't afraid to seek it out. Because if there is one quality that Gen Z has in spades, it is audacity — and no mass movement has ever succeeded without it.

☆ Teamsters union reaches national contract with Costco
▼ + stars: | 2022-10-21 | by ( ) www.reuters.com time to read: +1 min

Oct 21 (Reuters) - The Teamsters union, representing more than 18,000 workers, said it had ratified on Friday a national contract with Costco Wholesale Corp (COST.O). The first-ever national agreement provides members with significant wage improvements over the next three years and a substantial increase in pension contributions by Costco, the International Brotherhood of Teamsters said in a statement. In June, the union had rejected the company's initial contract offer by a vote of 93%, the union said. Register now for FREE unlimited access to Reuters.com Register"This is an earth-shaking win for Costco workers and the American labor movement. Register now for FREE unlimited access to Reuters.com RegisterReporting by Rittik Biswas in Bengaluru; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

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