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☆ Dollar gains on Fed rate hike bets, yen dips on Ueda comments
▼ + stars: | 2023-04-10 | by ( Karen Brettell | ) www.reuters.com time to read: +2 min

The dollar index was last up 0.67% against a basket of currencies at 102.68, the highest since April 3. The latest Fed data shows that commercial and industrial loans at commercial banks dropped to $2.756 trillion in the week ending March 29, from $2.824 trillion in the week ending March 15. Fed funds futures traders are currently pricing in a 70% probability that the Fed will hike rates by an additional 25 basis points at its May 2-3 meeting. The greenback was last up 1.00% at 133.45 yen , the highest since April 3. ========================================================Currency bid prices at 9:44AM (1344 GMT)Reporting by Karen Brettell; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

"One has to step back and look at a bigger picture than just these week-to-week market battles over data. Several economic indicators last week, including weak private payrolls and job openings data, had initially raised hopes of a pause to the market-punishing rate hikes amid the recent banking sector turmoil. Declining issues outnumbered advancers for a 1.48-to-1 ratio on the NYSE and 1.74-to-1 ratio on the Nasdaq. The S&P index recorded one new 52-week high and no new lows, while the Nasdaq recorded 13 new highs and 57 new lows. Reporting by Sruthi Shankar and Ankika Biswas in Bengaluru; Additional reporting by Medha Singh; Editing by Shounak Dasgupta and Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

"One has to step back and look at a bigger picture than just these week-to-week market battles over data. ET, Dow e-minis were down 122 points, or 0.36%, S&P 500 e-minis were down 21.5 points, or 0.52%, and Nasdaq 100 e-minis were down 107.75 points, or 0.82%. Shares of regional banks slipped after Fed data on Friday showed overall credit from U.S. banks declined by a record of more than $120 billion in the latest week, on a nonseasonally adjusted basis. Semiconductor stocks such as Micron Technology Inc (MU.O) and Western Digital Corp (WDC.O) gained 5.5% and 4.7%, respectively, following Samsung Electronics Co Ltd's (005930.KS) plans to cut chip production. Reporting by Sruthi Shankar and Ankika Biswas in Bengaluru; Additional reporting by Medha Singh; Editing by Varun H K and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Futures muted after jobs data raises odds of more rate hikes
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +3 min

U.S. employers maintained a strong pace of hiring in March, data released on Friday showed, pushing the unemployment rate down to 3.5% and raising odds of the Fed hiking rates one more time next month. While nonfarm payrolls increased by 236,000 jobs last month, slightly weaker than economists' expectations, investors focused on the overall data which signaled labor market resilience. "We see a disconnect between markets presuming much easier Fed policy on "softer" data and how the Fed will actually see the data," Citi economists said in a note. Citi expects three 25 basis point rate hikes at the coming Fed meetings with a policy rate reaching 5.50-5.75%. ET, Dow e-minis were up 12 points, or 0.04%, S&P 500 e-minis remained unchanged, and Nasdaq 100 e-minis were down 31.75 points, or 0.24%.

☆ INDIA RUPEE Rupee contends with Fed rate hike possibility, favourable momentum at open
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +2 min

Non-deliverable forwards indicate rupee will open at around 81.84-81.88 to the dollar, compared with 81.8850 in previous session. Rupee is on a three-week winning run, helped by foreign equity inflows and speculative positions, according to traders. It was the first time in two months that it has managed a weekly close of above 82. Risk appetite has held up well to the increased chances of another Fed rate hike. 5** NSDL data shows foreign investors sold a net $138.4mln worth of Indian bonds on Apr.

☆ Warehouse Jobs Drop to Lowest Level in 15 Months
▼ + stars: | 2023-04-07 | by ( Paul Page | ) www.wsj.com time to read: 1 min

Warehousing employment fell to the lowest level in more than a year as companies slashed payrolls amid a downturn in the goods-moving economy. U.S. employers cut 11,800 warehouse and storage jobs from February to March, according to the seasonally adjusted Labor Department preliminary jobs report released Friday. Warehousing companies have reduced employment by nearly 50,000 jobs since June, when overstocked retailers started paring inventories because of wavering consumer demand.

☆ March Jobs Report Shows Hiring Gradually Cooling
▼ + stars: | 2023-04-07 | by ( Sarah Chaney Cambon | ) www.wsj.com time to read: 1 min

U.S. hiring slightly cooled in March as employers added 236,000 workers, and the unemployment rate fell to 3.5%. The labor market has remained solid a year after the Federal Reserve began aggressively raising interest rates to tame high inflation. Employers added jobs last month in leisure and hospitality, government, professional and business services and health care. They cut jobs in construction, manufacturing and retail, the Labor Department said Friday.

☆ US economy still churning out jobs at brisk clip; wage pressures subsiding
▼ + stars: | 2023-04-07 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

Labor market tightness is drawing more people into the workforce, with 480,000 entrants last month, which could help to further restrain wage growth. The unemployment rate for Blacks dropped to an all-time low of 5.0%. Economists expect the labor market to loosen up considerably starting in the second quarter as companies respond more to slowing demand caused by the higher borrowing costs. Details of the household survey from which the unemployment rate is derived were upbeat. The employment-to-population ratio, viewed as a measure of an economy's ability to create employment, increased to 60.4% from 60.2% in the prior month.

☆ Why so many Americans hate their work hours
▼ + stars: | 2023-04-05 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +8 min

Lower-income workers want to work more, and higher-income workers want to work less. In fact, nearly a quarter of low-income workers making less than $47,000 a year want to work more hours. On the flipside, almost a third of middle- and high-income workers say they work too many hours, according to a Pew Research Center report released Thursday. Workers are left either wanting to work more but can't get the hours, or they want to work less but feel they shouldn't. When surveyed, lower-income workers would likely jump at the opportunity to work more hours to earn more.

☆ Broad Pay Ranges Can Hamper Cybersecurity Hiring
▼ + stars: | 2023-04-04 | by ( Kim S. Nash | Catherine Stupp | ) www.wsj.com time to read: +3 min

Companies that list wide pay ranges in cybersecurity job descriptions risk setting false expectations and kindling unrest among existing staff. Seven other states have required pay transparency for the past few years. In cyber recruiting, in particular, broad scales can hamper hiring, said Joyce von Seldeneck, founder and chair of Philadelphia-based Diversified Search Group. The last thing a company wants is to go bring candidates through an entire process and disappoint them at the end.”Newsletter Sign-up WSJ Pro Cybersecurity Cybersecurity news, analysis and insights from WSJ's global team of reporters and editors. While some management consultants say pay transparency can light a fire under employees to work harder for higher compensation, Matthias Muhlert, chief information security officer at gummy-bear maker Haribo GmbH & Co., isn’t so sure.

March 22 (Reuters) - A recent U.S. labor board ruling limiting what employers can include in severance agreements is a reminder that companies must be careful not to ask workers to sign away their rights, the agency's top prosecutor said on Wednesday. National Labor Relations Board (NLRB) General Counsel Jennifer Abruzzo in a memo to agency staff said the February decision prohibits agreements that restrict workers' ability to file lawsuits or communicate with the board, unions and the media. The decision also applies retroactively, Abruzzo said, meaning agreements offered to workers before the NLRB decided last month's case could still be deemed illegal. In the new ruling, the board found a Michigan hospital operator broke the law by offering workers severance agreements that included confidentiality and non-disparagement provisions, because they could discourage workers from filing complaints with the NLRB or publicizing labor disputes. Companies routinely ask laid-off workers to sign agreements in exchange for severance pay that limit their ability to file employment-related lawsuits and bar them from disparaging their former employers.

☆ Biden used first veto to save a 401(k) investment rule. Here's what it does
▼ + stars: | 2023-03-21 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

watch nowFew 401(k) plans — about 5% — offer an ESG fund, according to PSCA survey data. The [Biden] rule doesn't force you to consider ESG. Under the Biden rule, employers must still consider ESG factors within the context of what is in investors' best interests. "The [Biden] rule doesn't force you to consider ESG," Chao said. The Biden administration issued the final text of its investment rule in November, shortly before Republicans assumed control of the House.

☆ As Big Tech employees get culled, their European colleagues get stronger labor laws and softer landings
▼ + stars: | 2023-03-15 | by ( Riddhi Kanetkar | Jyoti Mann | ) www.businessinsider.com time to read: +8 min

Big Tech layoffs at Meta, Twitter, Amazon and Snap have laid off thousands of workers globally. Until recently, tech employees haven't had to think too seriously about mass layoffs. European Big Tech employees have better labor protections"There are regulations in Europe that apply to collective situations, based on European law: the so-called Mass Dismissal Directive," said Dr. Jordan. But in January, Twitter employees were reported to have been paid just one month's severance, according to CNN. Twitter employees in Germany have also worked with the Verdi union to push Twitter into making a better severance offer, Fortune reported.

☆ States Look to Ease Some Child-Labor Laws Amid Tight Market
▼ + stars: | 2023-03-10 | by ( Adolfo Flores | Jennifer Calfas | ) www.wsj.com time to read: 1 min

Arkansas Gov. Sarah Huckabee Sanders signed off on a law loosening child-labor restrictions in the state. A new Arkansas law that makes it easier for minors as young as 14 to work without a permit is part of a nationwide effort by states to loosen child-labor restrictions. For a child to receive the permit, a parent or guardian also had to sign off. Employers had to tell the state how many days and hours the minor was going to be working.

☆ U.S. Employers Added a Solid 311,000 Jobs in February
▼ + stars: | 2023-03-10 | by ( Sarah Chaney Cambon | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/february-jobs-report-unemployment-rate-economy-growth-2023-e4b1d318

☆ Wage growth is cooling — but workers still have bargaining power, economists say
▼ + stars: | 2023-03-10 | by ( Greg Iacurci | ) www.cnbc.com time to read: +1 min

The pace of wage growth seems to be decelerating, according to the February jobs report issued Friday — but workers still have bargaining power in a cooling but strong job market, economists said. "Workers have a very strong negotiating position," Mark Zandi, chief economist of Moody's Analytics. "The labor market is still very strong and workers are still in the driver's seat." Employers had to compete for workers in a hot market characterized by record job openings and turnover. It's also the slowest monthly gain since February 2022, according to Jeffrey Roach, chief economist at LPL Financial.

☆ How to Read Your Pay Stub
▼ + stars: | 2023-03-09 | by ( ) www.wsj.com time to read: +14 min

So residents of these states may have to work a little harder to track their earnings if their employer elects to forgo sharing pay stub documents. Only residents of California, Hawaii, New York, Rhode Island, New Jersey, and Puerto Rico will see this on their pay stub, according to Greene-Lewis. 10. pretax DeductionsDepending what workplace benefits are offered by your company and which ones you’ve elected to participate in, you may see pretax or before-tax deductions listed on your pay stub in addition to the various taxes you must pay. There is also another kind of common FSA you might be contributing to that could appear on your pay stub: the dependent-care FSA. Any after-tax withholding your employer makes should be noted on the pay stub.

Ahead of crucial U.S. jobs data on Friday, MSCI's broad index of global stocks (.MIWO00000PUS) fell 0.3%. This view has clashed with market repricing of interest rate expectations and bond market signals that aggressive monetary tightening raises recession risks. "If the totality of the data were to indicate that faster tightening is warranted, we would be prepared to increase the pace of rate hikes," Powell said. U.S. Treasury yields continued an ascent on Wednesday, with the two-year yield, which tracks interest rate expectations, briefly touching 5.08% -- its highest level since 2007. After a series of jumbo hikes last year, the Fed raised rates by 25 basis points last month.

☆ Here are 3 key things to know before filing your taxes
▼ + stars: | 2023-03-05 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +3 min

"Now you're seeing this drop-off because you have people who are either less sure because they maybe getting a smaller refund," Jaeger said. Avoid refund delays with a complete, accurate returnOne of the best ways to avoid refund delays is by filing a complete and accurate return, according to the IRS. However, experts say it's critical to have all your tax forms ready before sending your return. Employers and financial institutions send tax forms every year, with a copy going to taxpayers and the IRS. You can make a checklist of the forms you may need by reviewing last year's tax return, experts suggest.

☆ Full-time office work is 'dead': 3 labor experts weigh in on the future of remote work
▼ + stars: | 2023-03-03 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

watch nowInitially, remote work was seen as a necessary measure to contain the spread of the virus. Twitter recently shut its Seattle offices as a cost-cutting measure and told employees to work from home, a reversal from an earlier position that employees work at least 40 hours a week in the office. "It's still an evolving trend, but the movement is very much toward increased remote work," Pollak said. Remote work may endure even in a recessionNot everyone agrees that the benefits of working from home outweigh costs. Evidence suggests employee mentoring, innovation and company culture may suffer if jobs are fully remote, Bloom said.

☆ US labor market stays resilient; Q4 labor costs revised higher
▼ + stars: | 2023-03-02 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

Those worries were further heightened by another report from the Labor Department on Thursday showing labor costs grew much faster than previously estimated in the fourth quarter. The labor market remains tight despite rising risks of a recession, contributing to keeping inflation elevated via solid wage gains. But even using alternative seasonal adjustments, economists say the labor market still is exhibiting tightness. A second report from the Labor Department showed unit labor costs - the price of labor per single unit of output - grew at a 3.2% annualized rate last quarter. Labor costs accelerated at a 6.9% rate in the third quarter, and notched hefty gains in the prior two quarters.

☆ How to Read a Form 1098-E
▼ + stars: | 2023-03-02 | by ( ) www.wsj.com time to read: +10 min

By Kerri Anne RenzulliIf you have student loans, chances are you’ll encounter the IRS’s Form 1098-E. Those with multiple loans across multiple lenders will be sent a separate 1098-E form by each lending institution. But for those who do, this mark indicates that you took out your student loan before Sept. 1, 2004. Instead of relying on the Form 1098-E, you’ll need to request or download records of what you paid in interest and your payment history from your loan servicer, says Greene-Lewis. Who can claim the student loan interest deduction The $2,500 deduction phases out as your modified adjusted gross income rises.

Kashkari, a voter on Fed rate policy this year, said he had not made a final call yet on a new projection for the target federal funds rate. But "at this point...I lean towards continuing to raise further," beyond the 5.4% level that he previously thought would be adequate to lower inflation. Fed officials will submit new projections at a meeting in three weeks, and analysts and investors expect the median rate seen by officials for the end of 2023 will move perhaps a quarter point higher than the 5.1% anticipated as of December. The federal funds rate is currently set in a range from 4.5% to 4.75% after a rapid set of rate increases last year lifted it from a near zero level. The jump in inflation in January, however, has not prompted a universal call to respond.

☆ The racial retirement savings gap remains wide – How these state IRA programs are working toward equity
▼ + stars: | 2023-02-28 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

Indeed, about 64% of Hispanic workers, 53% of Black workers and 45% of Asian American workers have no access to a workplace retirement plan, according to AARP. State-facilitated individual retirement account savings programs have stepped in to attempt to close that racial savings gap. As of the end of January, there were more than $735 million in assets in these state-facilitated retirement savings programs, the center found. How it worksRather than competing against large corporate retirement plans, state-facilitated retirement savings programs turn their focus toward an underserved corner of the market: small businesses. Most of these state programs require businesses to either offer a workplace retirement plan or to help automatically enroll their workers into the state's program.

☆ Ex-Amazon managers say they were pressured to cut successful workers to meet attrition goals — and faced retribution when they resisted
▼ + stars: | 2023-02-27 | by ( Shana Lebowitz | ) www.businessinsider.com time to read: +17 min

Former Amazon managers say they were pressured to cut successful workers to meet attrition goals. In anticipation of Amazon's performance-review period, he told Insider, he'd kept careful notes on what his employees were doing well and where they could improve. These people said leadership would place employees in Focus even if the managers of those employees said that the workers had met or exceeded expectations. A few weeks later, he said, his manager told him he was on Pivot and had the option to leave the company with severance, which he did. Amazon managers are required to submit their performance ratings for employees in an online tool, then discuss their rationale with managers above them, he said.

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