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☆ Union membership dropped yet again in 2022 to the lowest rate on record, showing that workers still face an uphill battle in organizing
▼ + stars: | 2023-01-19 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +4 min

The union membership rate fell in 2022, according to the Bureau of Labor Statistics. Union membership has been mostly declining for decades, even though union workers tend to make more money. At the same time, the union membership rate, which tracks the percentage of workers in a union, fell to 10.1% — the lowest rate on record, per BLS. The union membership rate of 10.1% in 2022 was just half the 20.1% in 1983, the first year BLS compiled comparable data. Even so, the union membership rate for retail workers is just 4.3%, down from 4.4% in 2021.

☆ As U.S. unemployment improved, it worsened for Latinos and Black women
▼ + stars: | 2023-01-13 | by ( Rikki Klaus | ) edition.cnn.com time to read: +3 min

Not everyone is celebrating, however: Jobless rates for Black women and Latino men still haven’t recovered fully from the pandemic. The unemployment rate for Black women aged 20 years and older rose to 5.5% in December, from 5.2% in November, according to the Bureau of Labor Statistics. For Latino men, unemployment rose 0.4 percentage points to 4% last month, higher than the 3.1% unemployment rate in February 2020. The Fed effectThe government’s current response to inflation may also be playing a role in rising unemployment for Latino men and Black women, Bahn said. In April 2020, the Hispanic unemployment rate shot up to 18.1% after hovering at around 4% pre-pandemic, BLS data shows.

“Mission Hospital used to be where everyone would go if they wanted good care,” Jaquins said, reflecting on her previous experiences with the health care system. Sue Fischer is a longtime HCA employee who’s concerned about patient care in her facility. “We were a great system as Mission Health and we’re an even better system as HCA Mission Health,” she said. “Delays in care is the biggest patient care issue I see because of staffing,” Hernandez said. According to the CMS ranking system, Mission Hospital currently holds an above-average overall quality rating — four stars out of a possible five.

Price growth in the U.S. cooled in December as the economy continued to show signs of weakening. Thursday's BLS data showed food prices advanced 0.3% on a monthly basis in December. Economists at Bank of America say Thursday's inflation report is unlikely to cause Fed officials to abandon their plan to aggressively slow the economy through interest rate hikes. "While there are growing signs that inflation has peaked, the Fed is worried about the overheating labor market," the economists said in a report this week. "Our outlook for the December [inflation] report is unlikely to quell those concerns."

☆ Food prices still stubbornly high but seeing some easing
▼ + stars: | 2023-01-12 | by ( Alicia Wallace | ) edition.cnn.com time to read: +4 min

In December, “food at home” prices increased 0.2% from the month before, according to data released Thursday by the Bureau of Labor Statistics. On an annual basis, however, grocery prices remain stubbornly high (and nearly double the rate of overall inflation) at 11.8% year over year. “Fertilizer costs have improved, but they still remain very high. Labor costs still remain a problem — and the list goes on.”In addition to those broader pressures, other factors, including weather and disease, are heavily affecting certain products’ prices. “It makes it extremely challenging for a mom-and-pop [business].”He added: “We’re just trying to stay alive and hope that things will come down.”The expectations are for food price increases to continue to moderate, Bailey said.

Moderating inflation and a strong labor market may mean that no recession will come in 2023. At the same time, the US labor market has looked at the possibility of a recession and essentially shrugged. Although the US saw higher gains in the first few months of 2022, the job growth in December still shows the labor market is hot. "Today's inflation numbers are good news, good news about our economy," President Joe Biden said during Thursday remarks. Regardless, the labor market will continue to cool, and the unemployment rate will still rise — which will be uncomfortable, Zandi said, but not a recession.

☆ US stocks rise in choppy session as investors see smaller rate hikes after cooler December inflation
▼ + stars: | 2023-01-12 | by ( Carla Mozée | ) www.businessinsider.com time to read: +2 min

US stocks rose Thursday after a choppy session focused on the December inflation report. Monthly headline inflation fell 0.1% but the core index excluding volatile energy and food prices rose 0.3%. Investors priced in bullish expectations that the Fed will downshift its February rate hike. Sign up for our newsletter to get the inside scoop on what traders are talking about — delivered daily to your inbox. The core index excluding energy and food prices rose 0.3%, higher than 0.2% in November.

That's good news, since the Federal Reserve has been trying to tame wage growth. Cooling wage growth could mean the Fed won't need to induce a recession to bring down inflation. Bunker said that wage growth "is still robust but starting to moderate a little bit." And wage growth has slowed even more when looking at data from the most recent months, rather than just the year-over-year change. "We're seeing wage growth at 4.6% year-over-year.

☆ What to expect from the jobs report on Friday
▼ + stars: | 2023-01-05 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

Minneapolis CNN —Friday’s jobs report is expected to show that the US economy added 200,000 jobs in December, with the unemployment rate holding steady for the third-straight month at 3.7%. “The preponderance of evidence suggests that the labor market is still nowhere near back to normal,” said Julia Pollak, senior economist with ZipRecruiter online employment marketplace. Historically tightThe US labor market remains atypically tight — something that was reinforced Wednesday when the Bureau of Labor Statistics released its Job Openings and Labor Turnover Survey (JOLTS) report for November. It showed there were still north of 10.5 million job openings, or about 1.7 available positions for every unemployed person looking for work. “But it’s unclear how far inflation can fall without the labor market deteriorating, or rather, it’s not clear what the underlying pace of inflation is with the labor market this tight.”—CNN’s Matt Egan contributed to this report.

☆ U.S. private payrolls beat expectations in December, ADP says
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, Jan 5 (Reuters) - U.S. private payrolls increased more than expected in December, pointing to still-strong demand for labor despite higher interest rates. Private employment increased by 235,000 jobs last month, the ADP National Employment report showed on Thursday. Economists polled by Reuters had forecast private jobs increasing 150,000. It has been a poor predictor of private payrolls in the BLS employment report. According to a Reuters survey of economists, private payrolls likely increased by 180,000 jobs in December after rising by 221,000 in November.

☆ These are the 10 worst entry-level tech jobs of 2022, according to experts
▼ + stars: | 2022-12-31 | by ( Aaron Mok | Lakshmi Varanasi | ) www.businessinsider.com time to read: +2 min

IT support specialistIT support specialists help clients troubleshoot and fix issues on their computers, soft wares, and other devices. Thomas Barwick/ Getty ImagesWhat they do: IT support specialists help clients troubleshoot and fix issues on their computers, software, and other devices, according to Indeed. Salary: IT support specialists can make an average base salary of $49,154 a year, according to estimates from Indeed. Moreover, IT support roles often don't pay well until they've enter a manager-level position, Elliott said. Another IT support worker who identifies as "tier 1" posted that the job isn't challenging enough since it doesn't draw from the poster's technical expertise, according to Fishbowl.

☆ If your raise this year was less than 7.1%, it didn't keep up with inflation — and you effectively got a pay cut
▼ + stars: | 2022-12-29 | by ( Juliana Kaplan | Jason Lalljee | ) www.businessinsider.com time to read: +4 min

Wages have been going up this year, but so have prices — and prices are growing faster. Skyrocketing inflation has meant that a pay raise of 7.1% or below is essentially a pay cut. It's the time of year when annual raises come in, but if you didn't see a pay hike of at least 7.1%, you're effectively making less. But many workers haven't seen their real wages outpace inflation since 2021, even as they have more bargaining power than they've seen in decades. "If there are 100 chairs and 50 workers, workers are cool, man!"

☆ The 39 highest-paying jobs you can get without a bachelor's degree
▼ + stars: | 2022-12-24 | by ( Rachel Gillett | Madison Hoff | ) www.businessinsider.com time to read: +1 min

Method and data sourceThere are plenty of high-paying jobs that require only a two-year associate degree, postsecondary nondegree certificate, or even just a high-school diploma. Insider decided to look at which jobs do not require a bachelor's degree or higher and are also high-paying. To do this, we used the latest educational data and salary figures from the US Bureau of Labor Statistics. Some occupations from the 39 highest-paying are part of the transportation sector. In our ranking, we included each occupation's median annual salary and employment figures from May 2021.

☆ Philadelphia Fed suggests BLS overstated job growth in second-quarter by a million jobs
▼ + stars: | 2022-12-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPhiladelphia Fed suggests BLS overstated job growth in second-quarter by a million jobsA recent report from the Federal Reserve Bank of Philadelphia charges the Bureau of Labor Statistics with potentially overstating job growth in the second quarter. CNBC's Steve Liesman joins 'Squawk Box' to report.

☆ Missing jobs mystery puts Fed on back foot
▼ + stars: | 2022-12-22 | by ( Ben Winck | ) www.reuters.com time to read: +3 min

A study published by the Philadelphia Federal Reserve last week said 10,500 new jobs were added in the second quarter of 2022. Yet the national statistics bureau had previously reported a total over the same period of more than 1 million. Those seemingly missing jobs put the Federal Reserve, which uses the job market as a signal in its fight against inflation, on the back foot. The BLS jobs report includes job counts from both a household survey and a survey of businesses’ payrolls. The federal government releases monthly jobs data, but revises its numbers once a year as part of a process known as benchmarking, which factors in more comprehensive data only released quarterly.

☆ It's not just Taylor Swift. Musicians describe the 'demented struggle' of touring in a shrinking industry where one giant company sells the tickets for most major venues.
▼ + stars: | 2022-12-20 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +14 min

On top of that, the Justice Department is reportedly investigating the 2010 merger of industry leaders Ticketmaster and Live Nation. Live Nation Entertainment said in a statement that it owns and operates just over 100 of the nearly 4,000 total live music venues in the United States. "Put simply, artists, venues, and consumers should no longer be at the mercy of a single seller," Sens. At the same time, Live Nation Entertainment is seeing a record year due to more shows than ever. "We always welcome the opportunity to discuss important issues facing the live entertainment industry," Live Nation said in a statement.

☆ The 15 deadliest jobs in America
▼ + stars: | 2022-12-17 | by ( Madison Hoff | ) www.businessinsider.com time to read: +2 min

There were 82.2 fatalities per 100,000 full-time equivalent workers for logging workers. Fishing and hunting workers followed behind, with a rate of 75.2 per 100,000 full-time equivalent workers. Construction trade helpers, for instance, was among the occupations with the highest fatal injury rates. The following are the 15 most deadliest jobs in America based on 2021 fatal injury rates. Fatal injury rates noted below are fatal injuries per 100,000 full-time equivalent workers.

☆ Health insurance is helping cool inflation. But 'it's not a very good reflection' of what people pay, cautions economist
▼ + stars: | 2022-12-14 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

Health insurance prices fell by 4% in October and 4.3% in November, according to the consumer price index, a key measure of inflation. Health insurance costs had been rising steadily, within a band of roughly 1.5% to 3% a month since October 2021, according to CPI data. That decline in prices on paper is due to the unique way in which the BLS calculates health insurance inflation, economists said. "It's not a very good reflection of prices consumers are going to be seeing," said Andrew Hunter, senior U.S. economist at Capital Economics. Consumers who get health insurance through the workplace paid $1,327 in health premiums for single coverage in 2022 and $6,106 for family coverage, KFF said.

☆ Inflation cooled again in November to the slowest pace in a year
▼ + stars: | 2022-12-13 | by ( Madison Hoff | ) www.businessinsider.com time to read: +4 min

Inflation as measured by the Consumer Price Index soared 7.1% year-over-year in November, lower than the year-over-year increase of 7.7% in October. November's increase comes in below the 7.3% increase economists surveyed by Bloomberg forecasted, and is the lowest year-over-year rate since December 2021. Over the month, CPI increased by a seasonally adjusted 0.1% in November, below the 0.3% expected to be seen this month by economists. This index soared 13.1% year-over-year when looking at unadjusted figures, a slower increase than October's year-over-year increase. US Treasury Secretary Janet Yellen recently said on "60 Minutes" that she thinks "inflation will be lower."

☆ A McDonald's franchisee is accused of asking 100 teens to work too many hours or late shifts. Restaurants are recruiting younger workers during ongoing labor shortage.
▼ + stars: | 2022-12-07 | by ( Nancy Luna | ) www.businessinsider.com time to read: +4 min

13 McDonald's restaurants in Pennsylvania violated child labor laws, according to a federal probe. The franchisee, Santonastasso Enterprises LLC, was accused of assigning shifts to 14- and 15-year-old workers that violated the Fair Labor Standards Act. "Employers who hire young workers must understand and comply with federal child labor laws or face costly consequences." McDonald's and Burger King restaurant operators have advertised work to teens as young as 14. Teens 14 to 15 years old can work in restaurants and quick-service businesses during non-school hours, up to three hours on school days, and up to 18 hours on a school week.

☆ The US jobs market keeps beating the odds, adding another 263,000 jobs in November
▼ + stars: | 2022-12-02 | by ( Madison Hoff | ) www.businessinsider.com time to read: +3 min

InsiderThe US gained 263,000 nonfarm payrolls in November, better than the 200,000 economists expected. November's gain shows ongoing strength in the jobs market. There were 263,000 nonfarm payrolls added in November, according to the latest release from the Bureau of Labor Statistics (BLS). But as we head to the end of 2022, the US labor market remains resilient." The "temperature is still high" in the labor market as Bunker told Insider after the last jobs report.

☆ Premarket stocks: Powell revives hopes of a Fed pivot. That's a bad thing
▼ + stars: | 2022-12-01 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN Business —Federal Reserve Chair Jerome Powell made investors very happy on Wednesday. Powell’s admission that “the path ahead for inflation remains highly uncertain” means that rate hikes could be here for a while. This isn’t the first time investors rushed into markets on the belief that there would be a Fed pivot. Powell said on Wednesday that there is still a chance the economy avoids recession but the odds are slim. But the labor market still remains historically tight despite the Federal Reserve’s efforts to cool demand and bring down inflation.

☆ U.S. private payrolls growth slows in November-ADP
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, Nov 30 (Reuters) - U.S. private payrolls increased far less than expected in November, suggesting demand for labor was cooling amid high interest rates, a survey showed on Wednesday. Private employment increased by 127,000 jobs in November, the ADP National Employment report showed. Economists polled by Reuters had forecast private jobs increasing 200,000. The jury is still out on the ADP's reliability in predicting the private payrolls component in the BLS employment report. According to a Reuters survey of economists, private payrolls likely increased by 200,000 jobs in November after rising by 233,000 in October.

☆ Chicken prices are finally falling and it's triggering a resurgence of fast-food chicken sandwich wars
▼ + stars: | 2022-11-29 | by ( Mary Meisenzahl | ) www.businessinsider.com time to read: +3 min

Executives at Burger King and McDonald's praised sales growth driven by chicken menu items. On November 15, Popeyes released its new Blackened Chicken Sandwich, which is not breaded and is seasoned with Cajun and Creole spices. The sandwich chain is explicitly promoting the new sandwich as "reigniting the chicken sandwich wars," which started with the 2019 release of the Popeyes spicy chicken sandwich. The chain further took advantage of reduced chicken prices with a BOGO chicken sandwich deal over Black Friday weekend. Chicken, including the spicy chicken sandwich and McNuggets, has been a "strong growth driver" for McDonald's, CEO Chris Kempczinski told investors in October.

☆ Inflation boosts U.S. household spending by $433 a month, on average, Moody’s finds
▼ + stars: | 2022-11-25 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Hourly earnings fell 2.8%, on average, in the year to October after accounting for inflation, according to the BLS. Your personal inflation rate depends on the types of goods and services you buy, and other factors such as geography. The Moody's estimate of inflation's dollar impact analyzes October's annual inflation rate and typical household outlays as outlined by the Consumer Expenditure Survey. "There's no one silver bullet," Joseph Bert, a certified financial planner who serves as chairman and CEO of Certified Financial Group, told CNBC. Joseph Bert certified financial planner and chairman of Certified Financial Group

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