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☆ The Biden administration just announced plans to crack down on more than 4,400 new cases of child labor in the US since October
▼ + stars: | 2023-07-31 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +5 min

The Department of Labor is heightening enforcement of child labor laws through new partnerships and tactics. On Thursday, the Department of Labor announced it would take more measures to crack down on illegal child labor nationally, including heightening enforcement of child labor laws through new tactics and partnering with other agencies and foreign governments. "Like the President, we believe that any child working in a dangerous or hazardous environment is one child too many." This comes after the department's February 2023 announcement of the Interagency Task Force to Combat Child Labor Exploitation, created in response to a 69% increase in illegal child labor findings from 2018 to 2022. Sixteen more McDonald's franchise locations in Louisiana and Texas were found in violation of child labor laws last week, impacting 83 minors.

Persons: Biden, Labor Julie Su Organizations: of Labor, Service, Department of Labor, Labor, Department of Health, Human Services, Refugee Resettlement, The Department of Labor, Housing, Urban Development, Transportation, US Small Business Administration, Commission, The Labor, State, Department of Education, Interagency, Force, Combat, The Locations: Wall, Silicon, Colombia, El Salvador, Guatemala, Honduras, Mexico, Minnesota, Kentucky , Indiana , Maryland, Ohio, Louisiana, Texas, Missouri , Ohio, South Dakota

☆ CNBC Daily Open: Jobs, jobs and more jobs
▼ + stars: | 2023-07-07 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Half a million jobsU.S. private sector companies added 497,000 jobs in June, according to payroll processing firm ADP. The ADP jobs report doesn't necessarily give a good estimate of the Department of Labor's jobs report. Worst days and lowest levelsU.S. stocks fell Thursday as traders grew concerned over what the scorching hot ADP jobs report means for interest rates.

Persons: Dow Jones, Janet Yellen, Yellen, Bitcoin Bitcoin, Larry Fink, Deutsche Bank's Maximilian Uleer Organizations: CNBC, Department, Treasury, U.S ., Treasury Department, BlackRock, Deutsche Bank's Locations: Yellen, China U.S, Beijing, China, U.S, BlackRock

☆ CNBC Daily Open: Jobs are still growing uncontrollably
▼ + stars: | 2023-07-07 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The ADP jobs report doesn't necessarily give a good estimate of the Department of Labor's jobs report. Worst days and plunging profitsU.S. stocks fell Thursday as traders grew concerned over what the scorching hot ADP jobs report means for interest rates. But there are six U.S.-listed Chinese stocks that Morgan Stanley says have the potential to rise dramatically — one's a chipmaker that can soar 80%.

Persons: Dow Jones, Korea's Kospi, Janet Yellen, Yellen, Morgan Stanley Organizations: CNBC, Department, Samsung Electronics, Reuters, Treasury, U.S ., Treasury Department, Economist Intelligence Unit Locations: Asia, Pacific, Hong Kong, China, Beijing, U.S, Japan, South Korea, Philippines, Taiwan

☆ A ‘pleasant’ surprise: Strong job numbers, low layoffs show no ‘major indicators’ of a recession, economists say
▼ + stars: | 2023-05-31 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +1 min

Job openings were up and layoffs were down in April, shutting down fears that a recent rise in job cuts could be the start of a growing trend. Openings increased to 10.1 million last month, up from 9.6 million in March, according to the Department of Labor's latest Job Openings and Labor Turnover report. Opportunities are growing across retail trade; health care and social assistance; and transportation, warehousing and utilities. And 6.1 million people were hired into new jobs, on par with the previous month. It's still a favorable job market to applicants and workers, she says, with "very little to indicate the labor market is cooling off."

Persons: Elise Gould Organizations: Department, Labor, Economic, Institute, CNBC

☆ Gov. Kim Reynolds signed a bill rolling back child labor laws in response to business owner complaints over labor shortages. Iowa's unemployment rate was under 3% last month.
▼ + stars: | 2023-05-27 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

Kim Reynolds signed into law a bill rolling back child labor protections. The bill is one of many targeting child labor laws across the nation, signed largely by GOP governors. Businesses have increasingly reported labor shortages since the onset of the COVID-19 pandemic, which has killed over 1,127,000 Americans since 2020, according to the World Health Organization. The Iowa Governor's decision to roll back child labor laws is an apparent response to business owners who say they cannot find enough workers. Arkansas' unemployment rate was 2.8%, New Hampshire's was 2.1%, and New Jersey's was 3.5% — the only state that has recently rolled back child labor protections with a higher average than the nationwide 3.4% unemployment rate.

☆ Senator Patty Murray says it's impossible to keep the economy growing without affordable, well-paid childcare
▼ + stars: | 2023-04-29 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

Senator Patty Murray is once again pushing legislation to make childcare affordable and accessible. She told Insider the growth of the US economy relies on workers having access to childcare. Under the Child Care for Working Families Act, families' childcare costs would be capped at 7% of their income, and families that earn under 85% of their state's median would pay nothing at all. "Childcare was a crisis long ago, but it was a silent crisis," Murray told Insider. "Women are in the workforce to provide for their families," Murray said.

Last year, all of the record 15 shareholder proposals were rejected by investors' votes. Shareholder proposals across industries have increased since 2020, but support for them fell from 2021 to 2022, according to a PWC report. The report would detail the "impact of (Amazon's) policies, management, performance metrics, and targets," Tulipshare's proposal said. Tulipshare, which owns 13 shares or about $7,000 in Amazon stock, secured 44% of investors' votes in 2022. Amazon is recommending that shareholders reject Tulipshare's proposal, saying the company continually works to improve "safety processes, programs, and technology."

Companies Amazon.com Inc FollowNEW YORK, April 13 (Reuters) - E-retail giant Amazon (AMZN.O) is facing 18 shareholder proposals, beating its 2022 record of 15 proposals, as environmental, social and governance (ESG)-focused investors push for more changes in the company, according to Amazons' proxy statement released on Thursday. The number of shareholder proposals across industries has grown since 2020. Last year, all of the record 15 shareholder proposals were rejected by investors’ votes. Although Amazon has a record number of proposals on the ballot this year, this is not the most proposals that have been submitted by shareholders to the company. Amazon can challenge submissions with the Securities Exchange Commission or negotiate with investors to provide audits and reports outside of the annual shareholder meeting.

☆ Amazon shareholders introduce record number of proposals for second-consecutive year
▼ + stars: | 2023-04-13 | by ( Arriana Mclymore | Thomson Reuters | Arriana Mclymore Is A New York-Based Reporter Covering E-Commerce | ) www.reuters.com time to read: +2 min

Tulipshare secured 44% of investors’ votes in 2022. Amazon's board has recommended shareholders vote against each of the 18 proposals. Last year, all of the record 15 shareholder proposals were rejected by investors’ votes. Amazon did not immediately respond to requests for comment on the increase in shareholder proposals. The proposals will be voted on during Amazon's annual meeting on May 24.

☆ Healthcare, college education, and childcare started getting worse decades ago. Now we're all finally feeling it.
▼ + stars: | 2023-04-08 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +16 min

Americans are accruing billions in debt to pay for things like education and healthcare. But that would require shifting the idea of childcare, education, and healthcare and thinking of them as public goods — not businesses. That ultimately meant millions in funding for public childcare. "If the US health system was a country, it would be about the fourth-largest country in the world," Cooper said. There's much less government involvement in the US healthcare system than in other countries, Cooper said.

☆ Follow this rule of thumb to avoid taking on too much student debt, college experts say
▼ + stars: | 2023-03-24 | by ( Annie Nova | ) www.cnbc.com time to read: +1 min

As students weigh where to attend, making sure they won't borrow too much is key, experts say. The consequences of taking on too much student debt can be severe. "You may also have to take a job that pays better as opposed to the job that matches your career goals." Kantrowitz found in his research that under a third of student loan borrowers who took out $20,000 or less were stressed by their debt, compared with over 60% of those who'd taken out $100,000 or more. "If your total student loan debt at graduation is less than your annual starting salary, you should be able to repay your loans in 10 years or less," he said.

☆ Nordstrom, Neiman Marcus Supplier Paid California Workers $1.58
▼ + stars: | 2023-03-23 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +5 min

The Department of Labor randomly investigated 50 clothing companies in Southern California. It found that more than 80% were breaking one or more provisions of federal labor law. One garment maker was paying workers just $1.58 an hour. In what the department described as a "particularly egregious case," one garment manufacturer — making clothes for brands including Nordstrom, Neiman Marcus, Stitch Fix, and Von Maur, per investigators — was found to be paying some workers an hourly rate of just $1.58. It shows, she argued, "that strong federal action is needed to change the abusive pay rates in the American garment manufacturing industry."

☆ US, Mexico aim to find 13,000 Mexican migrant workers owed $6.5 mln in wages
▼ + stars: | 2023-03-15 | by ( ) www.reuters.com time to read: +2 min

MEXICO CITY, March 14 (Reuters) - U.S. and Mexican officials on Tuesday said 13,000 Mexican migrant workers are owed a total of $6.5 million in unpaid wages from U.S. workplaces, and will work to help beneficiaries now living in Mexico claim their pay from U.S. labor authorities. Ambassador to Mexico Ken Salazar said the effort marked an unprecedented collaboration between the U.S. and Mexico to support workers who for years have been short-changed. "In past governments, this would not have happened," he said at an event in Mexico City alongside Mexican labor officials. Mexico will also launch a public campaign to encourage workers to come forward if they believe they qualify for checks. "The work ahead is to find these 13,000," Mexican Labor Minister Luisa Alcalde said.

☆ Credit card debt is at an all-time high, putting households near 'breaking point,' study shows
▼ + stars: | 2023-03-09 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

That will cost credit card borrowers an extra $3.4 billion in interest charges over the next 12 months, WalletHub calculated. How to tackle credit card debt"Something has to give," Gonzalez said. It's time to rein in spending, pay off debt and avoid any new debt, she added. Zero percent balance transfer credit card offers are even more plentiful than they were a year ago and remain one of the best weapons Americans have in the battle against credit card debt, he said. Those rates have climbed recently, as well, but at 10%, on average, are still well below what you currently have on your credit card, according to Schulz.

☆ US House Republicans target ESG investments in latest culture war salvo
▼ + stars: | 2023-02-28 | by ( David Morgan | ) www.reuters.com time to read: +3 min

The measure is the latest salvo in the Republican culture war against the use of issues that promote environmental interests, social equality and corporate responsibility in business and investment decisions. "Retirement plans should be solely focused on delivering maximum returns, not advancing a political agenda," said Republican Representative Andy Barr, who introduced the House resolution. "If Congress doesn't block the Department of Labor's rule greenlighting ESG investing in retirement plans, retirees will suffer diminished returns on the investment of their hard-earned money." The measure is widely expected to pass the House, where Republicans hold a slim 222-212 seat majority. Two Democratic absences could give Republicans the simple majority necessary to pass the measure and send it to Biden's desk.

☆ Federal regulators tell Amazon that the 'gamification' of its warehouses contributes to a 'high risk of serious' injury
▼ + stars: | 2023-02-02 | by ( Sindhu Sundar | Katherine Long | ) www.businessinsider.com time to read: +5 min

Amazon was cited again by federal regulators alleging its warehouse workers face "high" injury risks. Regulators said a "gamification system" encouraged working at a fast pace that could pose injury. Amazon said it is cooperating with investigators and that it has worked to lower injury rates. In a letter targeting the warehouse in Idaho, OSHA said Amazon should change its "gamification system to eliminate incentives for excessively paced work." In recent months, Amazon has been hit by similar OSHA citations relating to injury risks facing workers, and to how it tracked and monitored those injuries.

☆ Amazon cited by Labor Department for second time in a month over warehouse injuries
▼ + stars: | 2023-02-01 | by ( Annie Palmer | ) www.cnbc.com time to read: +3 min

Federal safety inspectors on Wednesday issued citations against Amazon at three of its warehouses for putting workers at risk of serious injury, the second such penalty in a month. The move comes after OSHA last month cited Amazon for failing to keep workers safe at three other facilities. "Amazon's operating methods are creating hazardous work conditions and processes, leading to serious worker injuries," said Doug Parker, assistant secretary for Occupational Safety and Health, in a statement. Amazon also faces a separate investigation by the U.S. Attorney's Office's civil division that centers around worker safety hazards at the e-retailer's facilities nationwide. As part of the probe, investigators are also looking into whether Amazon has accurately reported worker injuries and if it misrepresented those injuries to lenders to obtain credit.

☆ U.S. agency says Amazon.com exposed workers to safety hazards
▼ + stars: | 2023-01-18 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

REUTERS/Pascal Rossignol/File PhotoNEW YORK, Jan 18 (Reuters) - A U.S. government agency on Wednesday issued citations against Amazon.com Inc (AMZN.O) for failing to keep warehouse workers safe, by exposing them to ergonomic hazards that resulted in serious injuries. The agency said workers at the Florida facility were also exposed to "struck-by" hazards, where merchandise that was unevenly stacked or not secured was susceptible to collapse. Doug Parker, the head of OSHA, said Amazon's processes were "designed for speed but not safety, and they resulted in serious worker injuries." Amazon has said it invests hundreds of millions of dollars annually to ensure worker safety. Safety concerns, including after the deaths of six workers when an Amazon warehouse in Edwardsville, Illinois, collapsed during a December 2021 tornado, have helped spur union campaigns at Amazon warehouses across the country.

It might not be a surprise that the three biggest financial institutions in the US are Bank of America, Chase, and Wells Fargo. Compare Bank of America and Chase and Wells Fargo Bank of AmericaChaseWells Fargo Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Editor's Rating 3.5/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Standout feature Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Bank of America Advantage Savings Account Chase Savings℠ Wells Fargo Kids Way2Save Savings Account APY 0.01% to 0.04% 0.01% effective as of 10/10/2022. Bank of America, Chase, and Wells Fargo are all FDIC insured.

☆ How much TikTok pays employees, according to salary data
▼ + stars: | 2022-12-28 | by ( Ashley Rodriguez | Dan Whateley | ) www.businessinsider.com time to read: +3 min

Insider combed through public data to get a snapshot of how much TikTok pays US employees. TikTok and owner ByteDance has offered base salaries between $29 an hour and $438,000 a year. Insider updated its analysis of how much TikTok employees make in the US, based on 1,135 US work-visa applications with salary data for more than 500 different jobs. The data includes base salaries only, not forms of compensation such as stock options or cash bonuses. It shows, for example, that TikTok offers $100,000 per year or more for certain content-operations roles, and that ByteDance offers as much as $200,000 per year for software engineers for its AR-effects platform.

☆ Netflix is still hiring for hundreds of roles across its games studio, engineering teams, and more. Salary data shows how much the company has offered for 180 different jobs.
▼ + stars: | 2022-12-22 | by ( Ashley Rodriguez | Elaine Low | ) www.businessinsider.com time to read: +4 min

Netflix offered base salaries between $40 an hour and $800,000 a year for certain roles, data shows. The company doesn't disclose salary data, but, like other US firms, it discloses how much it plans to pay workers it hires on US visas. Many of the roles offered six-figure base salaries. Netflix may choose to pay employees more than the figures reflected in this data or compensate them in additional ways. Based on the data, Netflix offered annual base salaries ranging from $40.45 per hour to $800,000, with a median of $184,080, for various roles.

☆ Amazon slammed by US government for failing to record warehouse-worker injuries. The investigation is ongoing.
▼ + stars: | 2022-12-16 | by ( Katherine Long | ) www.businessinsider.com time to read: +4 min

The US government is investigating Amazon warehouses in five states. Federal regulators slapped Amazon with 14 citations for failing to record workers' injuries. The company's self-reported data to the Department of Labor shows that Amazon warehouse employees get hurt roughly twice as often, on average, as non-Amazon workers in the same industry. One worker at an Amazon warehouse in Colorado, for instance, reported shoulder pain after repeatedly lifting packages. Following referrals from the US Attorney's Office for the Southern District of New York, the Department of Labor began investigating the Amazon warehouses this summer.

☆ How much Spotify pays employees in the US in 2022
▼ + stars: | 2022-11-28 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +2 min

Insider analyzed public data to get a snapshot of how much Spotify employees in the US make. The streaming-audio company offered some US staffers annual salaries between $75,000 and $369,500 from late 2020 to 2022. Insider updated its analysis of how much Spotify employees are paid in the US to include the latest available salary information. The data, released by the US Department of Labor's Office of Foreign Labor Certification, shows how much Spotify offered to pay employees who it wanted to hire in the US through work visas. Spotify offered certain US staffers between October 2020 and September 2022 annual base salaries ranging from $75,000 to $369,500 across about 180 different roles, according to the data.

☆ 36 high-paying jobs for people who don't like stress
▼ + stars: | 2022-11-26 | by ( Madison Hoff | ) www.businessinsider.com time to read: +1 min

One of the characteristics measured is stress tolerance, which O*NET describes as jobs requiring "accepting criticism and dealing calmly and effectively with high-stress situations." O*NET scores job characteristics like stress tolerance on a scale from 0 to 100, where a 0 means stress tolerance is not at all necessary for an occupation, and 100 suggests a job with a very high-stress environment. We ranked occupations from most to least stressful using O*NET's stress tolerance score, with lower scores indicating less stressful jobs. The above jobs were ranked from most to least stressful. In the case of a tied stress tolerance score, we ranked by average annual wages.

☆ Krispy Kreme agrees to pay workers more than $1.1 million over wage theft claims
▼ + stars: | 2022-11-17 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +2 min

Krispy Kreme has agreed to pay 516 workers more than $1.1 million in back wages and damages. Federal investigators had uncovered "widespread and systemic" wage theft at the company. According to investigators, the North Carolina-based company failed to include those employees' monthly bonuses when calculating their overtime rate. "Employers who fail in their obligation to pay minimum wage and overtime wages as the law requires make it harder for workers and their families to make ends meet." Krispy Kreme, for its part, said it is "strongly committed" to paying its workers fairly.

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