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☆ Yellen warns of risks of over-concentration of clean energy supply chains
▼ + stars: | 2023-08-14 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

"As we move away from fossil fuels, we remain concerned about the risks of over-concentration in clean energy supply chains," she said in excerpts of the speech obtained by Reuters. "Today, the production of critical clean energy inputs – from batteries to solar panels to critical minerals – is concentrated in a handful of countries." "The IRA is helping re-shore some of the production that is critical to our clean energy economy," she said. "Accelerating these transitions can mean greater demand for U.S. clean energy technologies produced by American workers. It can also bolster global clean energy supply chains.”Yellen will speak at a training center operated by the International Brotherhood of Electrical Workers (IBEW) union.

Persons: Janet Yellen, Thomas Peter, laud, Yellen, Joe Biden, Biden, Andrea Shalal, Diane Craft Organizations: Treasury, U.S, REUTERS, Thomas, Thomas Peter Companies Ipsos, LAS, Reuters, International Energy Agency, Democratic, International Brotherhood of Electrical Workers, Thomson Locations: Beijing, China, United States, U.S, Las Vegas, Democratic Republic of Congo, Indonesia, Australia, Chile, Nevada

☆ A Volkswagen plant in Germany sends staff off on their big summer break with a chorus of 'trumpets, trombones and drums'
▼ + stars: | 2023-08-13 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Volkswagen closes its Wolfsburg factory for three weeks every summer when workers go on vacation. Unlike the US, it's common in European countries to take a long summer vacation. A Volkswagen factory in Germany shuts down for a three-week summer vacation each year, kicking off the long summer break with a "chorus of trumpets, trombones and drums," Bloomberg reported. It's common for workers in some European countries such as France, Sweden, and Italy, to take a long summer vacation, even for an entire month. Usually for Europeans, peak summer vacation season starts from mid-June, till the end of August.

Persons: —, It's, “, — Samuel Pollen, 🇪 (@ ANda Organizations: Volkswagen, Wolfsburg, Bloomberg, Morning, company's, Volkswagen Philharmonic Locations: Germany, Wolfsburg, France, Sweden, Italy

☆ A feud is heating up between Arizona workers and the world's leading chipmaker after the company claimed the US doesn't have the skills to build its new factory
▼ + stars: | 2023-08-13 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

The company says it needs to bring Taiwanese workers to Arizona to get construction back on track. But construction of TSMC's first Arizona factory, which began in the Phoenix area in 2021, has run into some hiccups. "Replacing Arizona's construction workers with foreign construction workers directly contradicts the very purpose for which the CHIPS Act was enacted – to create jobs for American workers," the petition says. The degree to which American workers can get the job done without additional assistance is up for debate. "It's easily the most unsafe site I've ever walked on," said Luke Kasper, a representative of the sheet metal workers union.

Persons: TSMC, that's, Biden, Mark Liu, Liu, It's, Luke Kasper, TMSC, Morris Chang, Chang, Kevin Xu Organizations: Service, Taiwan Semiconductor Manufacturing Company, Arizona Pipe, Google, Facebook, YouTube Locations: Arizona, An Arizona, Wall, Silicon, China, TSMC's, Phoenix, Taiwan, TSMC, Asia

☆ CPI: Consumer prices rose by 3.2% annually in July, picking up for the first time in 13 months
▼ + stars: | 2023-08-10 | by ( Alicia Wallace | ) edition.cnn.com time to read: +8 min

Minneapolis CNN —For the first time in more than 12 months, the pace of consumer price hikes accelerated on an annual basis. The Consumer Price Index rose 3.2% for the year through July, up from June’s 3% annual increase, according to data released Thursday by the Bureau of Labor Statistics. Core CPI, which excludes the more volatile food and energy prices, increased 0.2% from June and was up 4.7% from the year-ago period. July is the the fourth consecutive month that annual core CPI has eased, and the 4.7% rate landed 0.1 percentage points below consensus expectations. Shelter prices rose 0.4% month on month and were up 7.7% for the year ending in July.

Persons: “ Don’t, ”, Julia Pollak, Joe Biden, ” Biden, “ We’ve, Kurt Rankin, Dow, “, Joe Brusuelas, Brusuelas, Tamara Charm, Brandon Bell, Danielle DiMartino Booth, DiMartino Booth, — CNN’s Elisabeth Buchwald Organizations: Minneapolis CNN —, Bureau of Labor Statistics, BLS, CPI, Federal Reserve, PNC, Nasdaq, RSM US, CNN, San, Services, “, McKinsey, Quill Intelligence, Federal Reserve Bank of Dallas Locations: Minneapolis, June’s, San Francisco, Austin , Texas

REUTERS/Elizabeth Frantz/File PhotoNEW YORK/WASHINGTON, Aug 8 (Reuters) - The White House on Wednesday will detail its plans to prohibit some U.S. investments in sensitive technology in China, and require that the government be notified of other investments, a senior government source told Reuters. Reuters reported on Friday that President Joe Biden was expected to soon issue the long-awaited executive order to screen outbound investments in sensitive technologies to China this week. The administration is expected to target active investment such as U.S. private equity, venture capital and joint venture investments in China in semiconductors, quantum computing and artificial intelligence. Most investments captured by the order will require that the government be notified about them, sources have said. The details are still a work in progress, but it is unlikely to cover passive or securities investments, the person said.

Persons: Joe Biden, Elizabeth Frantz, Biden, Jake Sullivan, Gina Raimondo, Emily Benson, Benson, David Shepardson, Karen Freifeld, Lincoln, Jonathan Oatis Organizations: White, REUTERS, Reuters, National, . Commerce, The New York Times, U.S . Department of Commerce, Center for Strategic, International Studies, Thomson Locations: Washington , U.S, WASHINGTON, China, U.S, Beijing, United States

U.S. President Joe Biden delivers remarks on access to mental health care in the East Room of the White House in Washington, U.S., July 25, 2023. REUTERS/Elizabeth Frantz/File PhotoNEW YORK/WASHINGTON, Aug 8 (Reuters) - The White House on Wednesday will detail its plans to prohibit some U.S. investments in sensitive technology in China, and require that the government be notified of other investments, a senior government source told Reuters. Reuters reported on Friday that President Joe Biden was expected to soon issue a the long-awaited executive order to screen outbound investments in sensitive technologies to China this week. The White House declined to comment on Tuesday. Most investments captured by the order will require that the government be notified about them, sources have said.

Persons: Joe Biden, Elizabeth Frantz, Biden, Jake Sullivan, Gina Raimondo, Emily Benson, Benson, David Shepardson, Karen Freifeld, Lincoln Organizations: White, REUTERS, Reuters, National, . Commerce, The New York Times, U.S . Department of Commerce, Center for Strategic, International Studies, Thomson Locations: Washington , U.S, WASHINGTON, China, U.S, Beijing, United States

☆ Growing talent gap in U.S. chip space emerges as makers spend billions
▼ + stars: | 2023-08-09 | by ( Kristina Partsinevelos | ) www.cnbc.com time to read: +1 min

US President Joe Biden visits Wolfspeed, a semiconductor manufacturer, in Durham, North Carolina, on March 28, 2023. (Photo by Jim WATSON / AFP) (Photo by JIM WATSON/AFP via Getty Images)A push to re-shore semiconductor manufacturing in the U.S. has spurred massive spending, and with it, concerns about the size of the skilled workforce. Now, as the shovels hit the ground to begin construction, companies are realizing how difficult it is to find talent. TSMC is bringing in workers from Taiwan to handle the high-tech equipment and train U.S. workers. The Arizona Pipe Trades 469 union has helped fund a website called "Stand with American Workers" accusing TSMC of overlooking Arizona workers in favor of Taiwanese counterparts in an attempt to "exploit cheap labor."

Persons: Joe Biden, Wolfspeed, Jim WATSON, JIM WATSON, Brian Harrison, Harrison, TSMC, that's Organizations: Getty, Taiwan Semiconductor Manufacturing Company, Arizona Pipe, American Locations: Durham , North Carolina, AFP, U.S, United States, Arizona, Taiwan

☆ White House to detail plans restricting some U.S. investments in China: Reuters
▼ + stars: | 2023-08-09 | by ( ) www.cnbc.com time to read: +1 min

The White House on Wednesday will detail its plans to prohibit some U.S. investments in sensitive technology in China. The White House on Wednesday will detail its plans to prohibit some U.S. investments in sensitive technology in China, and require that the government be notified of other investments, a senior government source told Reuters. Reuters reported on Friday that President Joe Biden was expected to soon issue a the long-awaited executive order to screen outbound investments in sensitive technologies to China this week. The White House declined to comment on Tuesday. Biden administration officials have stressed for months any restrictions on U.S. investment in China will be narrowly targeted.

Persons: Joe Biden, Biden, Jake Sullivan, Gina Raimondo Organizations: Reuters, . Commerce Locations: China, U.S, Beijing

☆ Next job-market challenge: the Great Unresignation
▼ + stars: | 2023-08-04 | by ( Ben Winck | ) www.reuters.com time to read: +4 min

The U.S. economy has weathered inflation without widespread layoffs so far, but a Great Unresignation could make seemingly healthy job numbers harder to read. But a big input in firms’ hiring plans is “attrition” – the number of workers expected to quit. The so-called quit rate in the finance and insurance sector dropped to 1.1%, well below a peak of 2.4% in April 2022. Wells Fargo flagged “slower than expected” attrition as a driver of higher severance costs during the bank’s July 14 earnings call. The U.S. economy added 187,000 nonfarm payrolls in July, the Bureau of Labor Statistics said on Aug. 4.

Persons: haven’t, Wells, That's, –, John Foley, Sharon Lam Organizations: Reuters, Wall, Bureau of Labor Statistics, Companies, of Labor Statistics, Citigroup, payrolls, Thomson Locations: U.S, United States

☆ At striking actors' hangout bar, tiny residual checks no longer a joke
▼ + stars: | 2023-08-02 | by ( Lisa Richwine | ) www.reuters.com time to read: +5 min

"Back in the late '90s, it used to be kind of a rarity to get a tiny residual check," actor John O'Brien said. In today's streaming-TV era, small residual checks have become so customary that they helped push the SAG-AFTRA actors union to go on strike in mid-July, joining film and television writers, who walked off the job in May, in part over residual payments. O'Brien, who has appeared on dozens of shows, from "Grey's Anatomy" to "Pretty Little Liars," shared images of residual checks from more than two decades ago worth $47.49, $87.77 and $216.25. For working class actors who were not the famous, highly paid stars, the residual checks were vital to helping them pay their bills. Lower residual payments mean fewer actors earn the $26,470 per year needed to qualify for SAG-AFTRA's health insurance coverage, said actor Michael Spellman.

Persons: John O'Brien, you'd, It's, O'Brien, Michael Spellman, Walt Disney, Arabella Field, Mike Blake, bartenders, Walt, Justin Bieber, Kirk Dinsmore, you've, Dinsmore, Spellman, We're, Lisa Richwine, Mary Milliken, Rosalba O'Brien Organizations: CITY, SAG, Alliance, Television Producers, Netflix, Studio City, REUTERS, Universal Pictures, Warner Bros, Walt Disney, Writers Guild of America, WGA, Thomson Locations: CITY , California, Hollywood, Los Angeles, Los Angeles , California, U.S

Government data released Tuesday showed that boom continued in June, with spending on manufacturing facilities up nearly 80 percent over the past year. The manufacturing sector as a whole has added nearly 800,000 jobs since Mr. Biden took office and now employs the most people since 2008. Measures by the University of Michigan and the Conference Board suggest consumers have grown happier with the current state of the economy and more hopeful about the year ahead. Hourly wages outpaced price gains in the spring for the first time in two years, giving consumers more purchasing power. National opinion polls still show a sour economic mood — but it appears to be improving slightly.

Persons: Biden, ”, Joseph Brusuelas Organizations: RSM, University of Michigan, Conference Board, New York Times, Siena College Locations: Siena

☆ The U.S. Economy’s Lost Decade - The New York Times
▼ + stars: | 2023-08-01 | by ( Paul Krugman | ) www.nytimes.com time to read: +2 min

President Obama did pass what media reports insistently called a “massive” fiscal stimulus, but it was in fact far too small, given the size of the financial shock. That’s not 20/20 hindsight; I was tearing my hair out over the plan’s inadequacy in real time. Or they didn’t want to work, maybe because the improving quality of video games was keeping them at home. OK, but before I simply declare that inadequate government stimulus led to a lost decade for the U.S. economy, I need to address one objection from economic theory. Conversely, if the economy persistently has excessive unemployment, the hypothesis says that we should see ever-falling inflation, perhaps eventually leading to deflation.

Persons: Obama, insistently, belying, Milton Organizations: Obama Locations: Washington, U.S

☆ A.I. is on a collision course with white-collar, high-paid jobs — and with unknown impact
▼ + stars: | 2023-07-31 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

And it has had various effects on the workplace, by displacing, changing, enhancing or creating jobs, experts said. "It is reaching up from the factory floors into the office spaces where white-collar, higher-paid workers tend to be." About 1 in 5 American workers have 'high exposure' to AIwatch nowwatch nowConversely, 23% of American workers have low exposure to AI, according to the Pew report. The remaining share of jobs — 58% — have varying AI exposure. It will also create new challenges and needs like retraining or reskilling; those may have knock-on effects, like child care needs for disadvantaged workers, Holzer said.

Persons: it's, Rakesh Kochhar, Kochhar, Harry Holzer, Holzer, Gene Kindberg, Hanlon, " Holzer, — Organizations: Pew Research Center, Department of Labor, Occupational Information, Georgetown University, federal Labor Department, Technology, World Bank, Pew Research, Business Locations: U.S

☆ US Senate Democrats push 'Buy America' bills ahead of tough 2024 elections
▼ + stars: | 2023-07-28 | by ( Moira Warburton | ) www.reuters.com time to read: +4 min

WASHINGTON, July 28 (Reuters) - Facing uphill re-election battles in 2024, vulnerable Senate Democrats are pushing legislation that promotes "Buy America" policies, attempting to bolster their party on a brand of economic populism they hope will keep them in the majority. The Senate Commerce Committee on Thursday advanced a bill from Democratic Senator Tammy Baldwin and Republican Senator J.D. "There's definitely momentum," Senator Gary Peters, a Democrat from Michigan and chair of the Senate Democrats' campaign committee, citing the COVID-19 pandemic as a galvanizing force. Buy America policies are "mom-and-apple pie issues with American voters" that have "virtually universal support," Scott Paul, president of the Alliance for American Manufacturing, said. Buy America bills often run in to opposition from corporate-minded lawmakers and pro-business associations.

Persons: Tammy Baldwin, J.D, Vance, Sherrod Brown's, Baldwin, Gary Peters, Donald Trump, Scott Paul, there's, Nick Iacovella, Trump's, Iacovella, Brown, Trump, Joe Biden, John Murphy, Moira Warburton, Matthew Lewis Organizations: Democratic, U.S, Navy, Democrat, Senate Democrats, Alliance for American Manufacturing, Coalition for, Voters, Brown, Trump, U.S . Chamber of Commerce, Reuters, Thomson Locations: United States, Michigan, Ohio , Wisconsin, Pennsylvania, China, America, Ohio, Baldwin, Wisconsin, Bush, Trump, Washington

☆ 3 ways you can still get student loan forgiveness despite the Supreme Court ruling
▼ + stars: | 2023-07-27 | by ( Annie Nova | ) www.cnbc.com time to read: +3 min

"Income-driven repayment plans are also student loan forgiveness plans," Kantrowitz said. Full-time teachers who work for five consecutive years in a low-income school may be eligible for up to $17,500 in loan forgiveness under the Teacher Loan Forgiveness Program. The Nurse Corps Loan Repayment Program allows certain nurses to get up to 85% of their student debt canceled. Mark Kantrowitz higher education expertFederal agencies also offer student loan repayment assistance programs, Kantrowitz said. Meanwhile, there are numerous state-level student loan forgiveness programs.

Persons: Biden, Kantrowitz, George W, Bush, Mark Organizations: Istock, Getty, Public, Consumer Financial, Bureau, U.S ., Personnel Management

☆ US willing to take 'targeted' actions against China for national security, Treasury official says
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +4 min

"When necessary, we will use a suite of tools to achieve our national security goals. It is our core mission to protect the American people from national security risks while also clearly communicating our position and intent to China to reduce the risk of misunderstanding," said Shambaugh, who heads Treasury's international affairs. The Biden administration is weighing new restrictions on outbound private investment into China and other countries of concern. "To be clear: neither targeted national security actions nor attempts to build diversified supply chains represent decoupling," Shambaugh said in the prepared remarks. He said the Treasury also has been troubled by China's recent punitive actions against U.S. firms and export controls on critical minerals for semiconductors.

Persons: Jay Shambaugh, Biden, Shambaugh, Janet Yellen, David Lawder, Paul Simao Organizations: . Treasury, U.S . Senate Foreign Relations, U.S, U.S . Treasury, Treasury, International Monetary Fund, World Bank, Thomson Locations: China, U.S, Beijing, Zambia, Ghana, Sri Lanka

☆ Democrats want to make the minimum wage $17 an hour and give nearly 28 million workers a raise
▼ + stars: | 2023-07-26 | by ( Juliana Kaplan | Eliza Relman | ) www.businessinsider.com time to read: +5 min

Sen. Bernie Sanders, alongside other progressives, is again trying to raise the federal minimum wage. He's introducing legislation to bring the federal minimum to $17 by 2028; currently, it's $7.25. However, past attempts to raise the minimum wage have been stymied by Republicans and moderate Democrats. Under the latest version of the Raise the Wage Act, the federal minimum would climb to $17 by 2028. "The President shares Congressional Democrats' commitment to put workers first and supports increasing the minimum wage.

Persons: Sen, Bernie Sanders, Sanders, Michael Douglas, Gordon Gekko, Hakeem Jeffries, It's, Democrats —, Biden, Michael Kikukawa, Pramila Jayapal, Jayapal, Frances Holmes, Holmes Organizations: Republicans, Service, Democratic, Senate, Democrats, Institute, Workers, National Employment Law, Congress, White, Congressional Progressive Caucus, Oxfam America, Busch Locations: Wall, Silicon, St Louis , Missouri

Shein has denied using forced labor and that it was planning to go public in the U.S. this year. U.S. lawmakers are also questioning Shein's data privacy and use of a U.S. duty exemption on low-priced direct shipments to consumers. Shein's $600,000 lobbying outlay, filed on Friday, does not put it "among the biggest spenders," Auble said. By contrast, U.S. retailers Walmart spent $1.62 million and Gap spent $140,000 in the second quarter, lobbying disclosures showed. Since the 2022 third quarter, Shein has paid lobbying firms Hobart Hallaway & Quayle Ventures $500,000; and Akin, Gump Strauss Hauer & Feld $270,000, the firms' filings showed.

Persons: Daniel Auble, Shein, Auble, Akin, Gump Strauss Hauer, Feld, Arriana McLymore, Richard Chang Organizations: YORK, Capitol, Center for Responsive, Securities and Exchange Commission, Reuters, Labor, Walmart, Hobart Hallaway, Quayle, Thomson, & $, & $ Locations: China, Singapore, U.S, New York City

☆ What’s ahead this week for Wall Street and the economy
▼ + stars: | 2023-07-23 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

Case Shiller house price index for May and consumer confidence for July from the Conference Board. Earnings reports from AT&T, Boeing, Meta Platforms, Mattel, Stellantis and Chipotle Mexican Grill. Earnings reports from Coca-Cola, Mondelez, Honeywell, Keurig Dr Pepper, Royal Caribbean, Anheuser-Busch Inbev, Southwest Airlines and Hershey. Friday: Personal Consumption Expenditures price index for June, Employment Cost Index for the second quarter and University of Michigan consumer sentiment for July. Earnings reports from Procter & Gamble, Chevron and Exxon Mobil.

Persons: Jerome Powell, David Smith, Powell, Christopher Waller, ”, Dustin Thackeray, Tesla, Chris Isidore, —, Case, Dr Pepper Organizations: CNN Business, Bell, CNN, Fed, Traders, Rockland Trust, Big Tech, Microsoft, Meta, Crewe Advisors, Nasdaq, Netflix, Safety, Health Administration, doesn’t, Biden Administration, Bureau of Labor Statistics —, Ryanair, Federal Reserve, Conference Board, General Motors, Daniels, Midland, Verizon, PacWest, Boeing, Mattel, Honeywell, Anheuser, Busch Inbev, Southwest Airlines, Hershey, University of Michigan, Procter & Gamble, Chevron, Exxon Mobil Locations: Rockland, American, United States, PacWest Bank, Royal Caribbean

☆ Canadian port workers back on strike after voting down government-brokered deal, returning supply chain to 'turmoil'
▼ + stars: | 2023-07-19 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +9 min

Photographer: Ben Nelms/Bloomberg via Getty ImagesThe supply chain is in turmoil again with International Longshore & Warehouse Union West Coast Canada members walking off the job after a key union caucus voted down a tentative deal that had temporarily ended the West Coast ports strike last week. Rob Ashton, president of the ILWU Canada, said in a statement that it did not believe the recommendations had the ability to protect union jobs. His group estimated that the first strike would cause an average 6-8 weeks of supply chain disruption before conditions would return to normal. The National Association of Chemical Distributors told CNBC some chemical companies are expected supply chain congestion until October as a result of the strike. Critical chemicals that go into food, cleaning, water purification, and personal care, among many others, flow through the West Coast ports of Canada and down to the United States.

Persons: Prince Rupert, of Prince Rupert in Prince, Trudeau, He's, Kinder Morgan, Ben Nelms, Rob Ashton, Seamus O'Reagan, " O'Regan, Steve Lamar, Lamar, Vancouver and Prince Rupert, Destine Ozuygur, Ozuygur, Eric Byer, Byer, HLS, Captain Adil Ashiq, Ashiq, Paul Brashier, BCMEA Organizations: Prince Rupert Grain Ltd, Canadian, Enbridge Inc, Kinder, Kinder Morgan Inc, Bloomberg, Getty, Warehouse Union, Coast Canada, British Columbia Maritime Employee Association, Canada's Labor, Canada's Transport, Canada Industrial Relations Board, Logistics, CNBC, American Apparel and Footwear Association, Railway Association of Canada, U.S, Port, HLS Shipping, Association of American Railroads, National Association of Chemical Distributors, Canadian National Railroad, Government, ., U.S ., ITS Logistics Locations: of, of Prince Rupert in Prince Rupert, British Columbia, Canada, Petroliam Nasional, West, British, Vancouver, U.S, Port of Vancouver, eeSea, United States, . West Coast, East Coast, China, U.S . West Coast, U.S . East Coast, North America, East, Asia

☆ Canadians and Brits spend the most time working from home, even though Americans want to most, survey shows
▼ + stars: | 2023-07-19 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

It found that Canadians and Brits spend the most time working from home. US workers are in third place, despite both staff and employers wanting to spend the most time. It found Americans were in third place for the number of days spent working from home, at an average of 1.4 per week. That's only narrowly behind the UK's 1.5, and Canada, whose workers spend an average of 1.7 days working from home each week. Globally, workers spend an average of 0.9 days working from home, despite employers planning for 1.1 days, and staff wanting two days.

Persons: That's, Mathias Dolls Organizations: Brits, Service, IFO, Macroeconomics, McKinsey Locations: Wall, Silicon, German, Canada, Koreans

☆ ‘Training My Replacement’: Inside a Call Center Worker’s Battle With A.I.
▼ + stars: | 2023-07-19 | by ( Emma Goldberg | More About Emma Goldberg | ) www.nytimes.com time to read: +1 min

Her favorite radio show was discussing artificial intelligence, specifically an A.I.-generated sample of Biggie. “Sonically, it sounds cool,” Charlamagne tha God said. “But it lacks soul.”WeezyWTF replied: “I’ve had people ask me like, ‘Oh, would you replace people that work for you with A.I. ?’ I’m like, ‘No, dude.’”Ms. Sherrod nodded along emphatically, as she drove past low-slung brick homes and strip malls dotted with Waffle Houses. She played the radio exchange about A.I.

Persons: ”, Mandii, Biggie, ” WeezyWTF, “ I’ve, ” Ms, Sherrod nodded, Ms Locations: Mississippi, Ocean Springs, Miss

☆ Unions are having a major moment — but don't expect a 1930s-level boom
▼ + stars: | 2023-07-18 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +3 min

While unions are more popular than they've been in decades, a smaller share of workers are in unions. It's unclear if the strike wave will translate into a labor resurgence absent pro-union legislation. According to Gallup polling, 71% of Americans said they approved of labor unions in 2022, up from 48% in 2009, marking the highest level of public support since 1965. But none of this necessarily means we're approaching a union boom anywhere near the levels of the 1930s. So while unions are certainly having a moment, it's not yet clear if we're approaching the labor resurgence that some are hoping for.

Persons: they've, Joe's, Alexander Hertel, Fernandez, David Leonhardt, Biden Organizations: Service, Gallup, Bureau of Labor Statistics, Workers, Columbia University, The New York Times, House Democrats, Republicans Locations: Wall, Silicon, unionizing, today's Congress

☆ White House takes a victory lap after inflation report comes in cooler than expected
▼ + stars: | 2023-07-12 | by ( Emma Kinery | ) www.cnbc.com time to read: +2 min

WASHINGTON — President Joe Biden on Wednesday celebrated new data that showed inflation cooling more quickly than expected. "Good jobs and lower costs: That's Bidenomics in action," Biden said in a statement. Year over year, inflation rose 3%, the lowest level in more than two years. Core CPI, which does not include food and energy costs, rose 4.8% from a year ago and 0.2% on a monthly basis. "Our progress creating jobs while lowering costs for families is no accident, and I will continue to fight for lower costs for families every day."

Persons: Joe Biden, Volodymyr Zelensky, Biden, Lael Brainard, " Brainard Organizations: NATO, WASHINGTON, Wednesday, Labor Statistics, CPI, Economic, of New Locations: Vilnius, of New York, U.S, United States

☆ Mexico replaced China as America's top trade buddy — and it shows how the global economy is rapidly transforming
▼ + stars: | 2023-07-12 | by ( Cork Gaines | ) www.businessinsider.com time to read: +5 min

Trade between the US and Mexico reached $263 billion during the first four months of this year. That pushed Mexico past China and Canada as the top trade partner since the start of the pandemic. China was the top partner for much of the 2010s and again at the start of the pandemic. Trade with Mexico accounted for 15.4% of all the goods exported and imported by the US, just ahead of America's trade totals with Canada (15.2%) and China (12.0%). Trucks carrying shipping containers line up as they are flagged for a secondary inspections at the Port of Manzanillo, Mexico.

Persons: Luis Torres, Donald Trump's, Torres, Nearshoring, Peter S, Goodman, Michael Burns, Salwan Georges, Shannon O'Neil's, Greg Rosalsky, O'Neil, Joe Biden, Antony Blinken, Xi Jinping, Janet Yellen, Xi, Yellen Organizations: Service, Federal Reserve Bank of, Canada, Dallas Fed, New York Times, Walmart, Murray Hill Group, Trucks, Washington, Getty, NPR Locations: Mexico, China, Canada, Wall, Silicon, Federal Reserve Bank of Dallas, Pacific, Port, Manzanillo, USA, United States

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