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Three major airlines, American, Delta, and United, offer similar captain base pay of up to $447 an hour. AdvertisementCommercial-airline pilots have become some of the highest-paid workers in the US thanks to a suite of post-pandemic pay raises. These pilots earn hundreds of dollars for every hour of flight time, with pay increasing with every year of seniority. These hours pay the same rate and have guaranteed minimums of 70 to 75 hours, depending on the airline, according to the Air Line Pilots Association. Related storiesHere's a breakdown of the base pay pilots at American, Delta, and United earn per hour of payable time, according to contracts sent to Business Insider from the airline or its union.
Persons: , Tim Boyle, ALPA, Nicolas Economou Organizations: United, Service, American Airlines, Delta Air Lines, United Airlines, Bureau of Labor Statistics, Delta, Airbus, Boeing, Veterans, American, Airline, Getty, Air Line Pilots Association, Business, Delta Air Lines Delta Airlines Airbus, United Airlines Boeing Locations: Europe, Americas, South Africa, Japan, Australia
Recent pay raises have made commercial airline pilots some of the highest-paid workers in the US. The 3 major airlines, American, Delta, and United, all offer similar base pay for captains of up to $447 per hour. AdvertisementCommercial airline pilots have become some of the highest-paid workers in the US thanks to a suite of post-pandemic pay raises. Airline pilots at Delta and United have gotten heft profit-sharing in recent years. These hours pay the same rate and have guaranteed minimums of 70-75 hours, depending on the airline, according to the Air Line Pilots Association.
Persons: , Tim Boyle, ALPA, Nicolas Economou, widebodies, Boeing narrowbodies Organizations: Service, American Airlines, Delta Air Lines, United Airlines, Bureau of Labor Statistics, Delta, Airbus, Boeing, Veterans, American, United, Airline, Getty, Air Line Pilots Association, BI, Delta Air Lines Delta Airlines Airbus, United Airlines Boeing Locations: Europe, Americas, South Africa, Japan, Australia, widebodies
More than two-thirds of Hispanic construction workers in America are foreign born. Working without a safety netFor the workers paid to rebuild the bridge, the job will be grueling — and dangerous. CNNWork-related deaths among foreign-born Hispanic or Latino workers rose to their highest level in 2021, according to the most recent Bureau of Labor Statistics data. Fourteen percent of all work-related fatalities in 2021 were foreign-born Hispanic or Latino workers, and most of them worked in construction. The agency’s reports also “consistently show” that Latino and/or immigrant workers are less likely to report employer health and safety violations.
Persons: Francis Scott Key, We’re, It’s, Reinaldo Quintero, , Carlos Hernández, Miguel Luna, Yassir Suazo Sandoval, Jose Mynor Lopez, Dorlian Castillo Cabrera, , Saket Soni, Alejandro Hernandez Fuentes, Soni, ” Quintero, ’ ”, Sean McGarvey, Ligia Guallpa, Quintero, Hurricane Michael, Reinaldo Quintero “, ” Guallpa, Guallpa, Hurricane, Dave Einsel, ” Soni, Ron DeSantis ’, Fort Organizations: New, New York CNN, Bureau of Labor Statistics, CNN, Key, CNN Construction, Resilience Force, Force, of Labor Statistics, New York Committee, Occupational Safety, Health, York, New York State Department of Labor, Workers, North, Unions, Worker’s, Hurricane, Panama City, Safety, Health Administration, Historic New, New York Times, Gov Locations: New York, America, Louisiana, Hurricane, Florida, Mexico, Guatemala, El Salvador, Honduras, United States, New York City, North America’s, Canada, Venezuela, Panama, Baltimore, New Orleans, Texas, North Carolina, Historic New Orleans, Fort Meyers
What to expect from the March jobs report
  + stars: | 2024-04-04 | by ( Elisabeth Buchwald | ) edition.cnn.com   time to read: +8 min
ET, when the Bureau of Labor Statistics releases its March jobs report. February brought the unemployment rate within spitting distance of 4%, rising to 3.9% from 3.7% in January. What could come from Friday’s jobs reportFebruary’s jobs report came as yet another surprise to economists. For instance, last month January’s job gains were revised down to 229,000 from the blowout 353,000 that kicked off 2024. The unemployment rate went up by half a percentage point from the post-pandemic low of 3.4% last April.
Persons: lockdowns, it’s, Michael Strain, , February’s, Andy Challenger, , Allison Joyce, Aaron Sojourner, they’ve, Sojourner, Luke Sharrett Organizations: New, New York CNN, Bureau of Labor Statistics, American Enterprise Institute, BLS, Federal, US, Challenger, , Department of Labor, Bloomberg, . Upjohn Institute, Employment Research, CNN, Federal Reserve, Getty Locations: New York, outplacement
Agility Robotics said it laid off a "small number" of employees on Wednesday. The company told Business Insider that the job cuts affected a "small number" of employees. Amazon is testing its Agility's Digit robots in a research and development facility near Seattle. AdvertisementAn electrical engineer at the humanoid robotics firm shared in posts on LinkedIn and X that he was "one of the many laid off" at the company. AdvertisementJohnson previously told BI that it will churn out "hundreds" of its Digit robots in 2025 and then "ramp up capacity to thousands" in the years that follow.
Persons: , Lisa Haugh, Crunchbase, it's, Peggy Johnson, Johnson, It's Organizations: Robotics, Service, Business, Industrial Innovation, LinkedIn, Bureau of Labor Statistics Locations: Oregon, Seattle
If you had to guess where America's highest earners live, you might imagine the booming metropolis of New York City or the tech-heavy cities that make up Silicon Valley. Workers in the District of Columbia have a higher annual median wage at $84,450, but Massachusetts is the highest-earning state. A number of reasons help workers in Massachusetts earn higher salaries. Top colleges like Harvard University and Massachusetts Institute of Technology, which historically churn out high earners, may also drive Massachusetts' median wages up. Check out the map below to see the median wage in every U.S. state.
Organizations: Bureau of Labor Statistics . Workers, District of Columbia, Harvard University and Massachusetts Institute of Technology Locations: New York City, Massachusetts, District
There were about 8.8 million job openings in the US in February. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Openings for jobs have dropped from a rate of 6% in February 2023 to 5.3% this past February. Tuesday's news release from the Bureau of Labor Statistics said February job openings "changed little at 8.8 million" since January.
Persons: , Nick Bunker Organizations: Business, Service, Bureau of Labor Statistics, Bloomberg, North America
There were around 8.8 million job openings in the US in February. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Openings for jobs have dropped from a rate of 6.0% in February 2023 to a rate of 5.3% this past February. Tuesday's news release from the Bureau of Labor Statistics said February job openings "changed little at 8.8 million" since January. Across industries, here are the roles with a multitude of openings, or an urgent need to hire.
Persons: , Nick Bunker Organizations: BI, Service, Bureau of Labor Statistics, Bloomberg, North America, Business
Private sector job growth expanded in March at its fastest pace since July 2023, indicating continuing buoyance in the U.S. labor market, payrolls processing firm ADP reported Wednesday. Those switching jobs saw gains of 10%, also higher than in previous months. ADP, whose survey is based on payroll data analysis of more than 25 million workers, does not track government jobs. The ADP estimate serves as a precursor to the Labor Department's nonfarm payrolls survey, set to be released Friday, though the numbers often diverge sharply. The department's Bureau of Labor Statistics reported job growth of 275,000 in February, or 120,000 more than even ADP's revised figure.
Persons: Dow Jones, Nela Richardson Organizations: Companies, Labor, department's Bureau of Labor Statistics, Federal Reserve Locations: U.S
If either of these reports come in hotter than expected, mortgage rates could spike up. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 15-year Fixed Mortgage RatesLast week, average 15-year mortgage rates were 6.11%, a 10-basis-point decrease from the previous week, according to Freddie Mac data. Mortgage rates started ticking up from historic lows in the second half of 2021 and increased over three percentage points in 2022. Once the Fed cuts rates, mortgage rates should fall even further.
Persons: you'll, Freddie Mac, it's Organizations: Federal Reserve, of Labor Statistics, Zillow Locations: Chevron
Most people don't earn six figures, but it's become the new benchmark for whether or not you can afford a typical U.S. home. Americans need to earn an annual income of $110,871 to buy a median-priced home of $402,343 — a 46% increase since January 2020, according to a new Bankrate analysis of Redfin sales data. For context, households currently earn a median income of $74,580, according to the most recent U.S. Census Bureau data available. As a result, the number of places where you need to earn $100,000 or more to afford a median-priced home has climbed from seven to 23 since January 2020. In Montana, the income needed to buy a median-priced home increased 77% since 2020 — the largest jump of all states.
Persons: it's, Bankrate, homeownership Organizations: Census, of Columbia, Washington, Rhode, Center, of Labor Statistics, CNBC Locations: U.S, California, Hawaii, Massachusetts, Colorado, Jersey, York, Utah, Montana, Hampshire, Oregon, Connecticut, Florida, Vermont, Idaho, Nevada, Arizona, Maryland, Virginia, Maine, Texas, Hawaii , Massachusetts, New York, Utah , Montana and Idaho, Midwest, Mississippi , Ohio , Arkansas , Indiana , Kentucky, Iowa, Oklahoma
Read previewThe accountant shortage is so bad that companies are delaying filing key mandatory reports. On Friday, Tupperware said it didn't have enough accountants to get its annual report out on time. The storage container manufacturer is the latest on a growing list of companies that have delayed their annual reports for a host of reasons. About 70 companies have postponed annual reports this year, up 40% from last year, research company Intelligize tallied last month. Tupperware added that previous delays in filing its 2022 annual report led to postponement of its quarterly reports, which subsequently pushed back work on its 2023 annual report.
Persons: , Tupperware, Intelligize, Steven Kachelmeier, Fitness Organizations: Service, Business, LinkedIn, PricewaterhouseCoopers, American Institute of Certified Public Accountants, US Bureau of Labor Statistics, Accountants, University of Texas, Mattel, Securities, Exchanges Locations: Orlando, Poland, American
Starting Monday, fast-food workers in California at chains with more than 60 national locations earn $20 an hour, higher than the state's broader minimum wage of $16 per hour. California pay is already highwatch nowWhile the new fast-food minimum wage is among the highest in the U.S., California employers are used to paying more for their labor. Even when it is not mandated, restaurants usually find themselves paying more than the minimum wage to attract hourly workers. As a full-service restaurant chain, the company won't be obligated to pay its California workers $20 an hour. Advocates prepare to go biggerFrom start to finish, the California law, which was backed by the Service Employees International Union, has been controversial.
Persons: David Paul Morris, Gavin Newsom, Matthew Haller, Daniel Zhao, Zhao, Lauren Crabbe, she's, Crabbe, Matthew Clark, Jennifer B, Perez, I'm, it's, Newsom, Greg Flynn, Flynn Organizations: McDonald's Corp, Bloomberg, Getty, International Franchise Association, CNBC, Bureau of Labor Statistics, Service Employees International Union, Gov, SEIU Locations: Oakland , California, U.S, California, , California, Fresno, San Francisco, Long Beach
The Federal Reserve may have new incentives in the second quarter to cut rates deeper this year. Canaccord Genuity's Tony Dwyer thinks a deteriorating jobs market and easing inflation will ultimately push the Fed to act. "Our focus now is those rate cuts are what you need." At the March Federal Reserve policy meeting on interest rates, officials tentatively planned to slash rates three times this year. According to Dwyer, market performance will become much more even by the end of this year into 2025.
Persons: Canaccord Genuity's Tony Dwyer, I'm, CNBC's, Dwyer Organizations: of Labor Statistics
If you've got nothing saved for retirement, you're not alone. Nearly 30% of Americans have $0 saved for retirement, per recent data from personal finance website GOBankingRates. The average monthly benefit is around $1,773 as of February, per the Social Security Administration. It ranked each city on a variety of metrics, including the city's average home value, annual grocery costs, annual utilities costs and whether the state taxes Social Security benefits. Here are the top five places in the U.S. to retire if you have little to no savings, according to GOBankingRates.
Persons: you've, Anne Lester, Roth, GOBankingRates Organizations: CNBC, Roth IRA, Social Security, Social Security Administration, Social, U.S, Survey, Tax Foundation, Bureau of Labor Statistics, Expenditure Locations: U.S
In that majority lies a pressing question: How will the introduction of artificial intelligence impact hourly workers? 'Deskless workers' and technologyRegardless of the perspective, hourly workers and the people who manage them are actively seeking technology solutions to help streamline their workflow. For example, robotics-enabled sorting and small item picking is infiltrating the logistics industry, which is traditionally staffed by hourly workers on the warehouse floor. "This will be the decade of hourly workers that are focused on delivery of services that require human touch," she said. One thing that hourly workers, like all workers, aim for is a sense of meaning on the job.
Persons: Silvija Martincevic, Doug Hammond, Hammond, Martincevic, haven't, isn't, packer —, , there's Organizations: Bureau of Labor Statistics, Industries, Randstad USA, Hardware, Bros, Organisation for Economic Co Locations: upskilling
AdvertisementBrandon Tamayo considered leaving his current job for a role in the private sector on his way to work one morning. "My friends in the private sector told me 'You could double your pay.'" AdvertisementHe could likely make six figures in the private sector — and he remains intrigued by the option. According to the US Bureau of Labor Statistics, the median years of tenure for public sector jobs in 2022 was 6.8 years, about 2.7 years higher than private sector jobs. For Tamayo, this is the largest reason he stays in the public sector.
Persons: , Brandon Tamayo, Tomayo, Tamayo, he's, Christine Cruzvergara, Cruzvergara, Raven Blanchard, she's, Blanchard, hasn't, Joe Biden, they've, Symoné Berry, Alexxus Harris, Harris, it's Organizations: Service, Indiana State University, US Bureau of Labor Statistics, ISC, EAP Locations: Illinois, Virginia, Germany, Asia
Investors need to wait for a recession and accompanying rate cuts before putting more cash into stocks, Canaccord's Tony Dwyer says. Under such a scenario, the Fed would leave interest rates higher for longer to induce a downturn, then cut rates, Dwyer says. That's actually good news for investors, Dwyer said, as a downturn is the buying opportunity investors need to wait for:"You need to kill the zombie. A slowing economy could push the Fed to issue rate cuts — the monetary easing tool investors have been eagerly anticipating. Some Wall Street forecasters have warned interest rates could stay higher-for-longer as the Fed is looking to avoid a resurgence in inflation.
Persons: Canaccord's Tony Dwyer, Dwyer, , Tony Dwyer, Canaccord, that's, haven't, Russell Organizations: Service, CNBC, of Labor Statistics, New York Fed
If Costco’s hot dog deal kept pace with inflation, it would be three times as expensive today — nearly $4.50. ‘If you raise the effing hot dog, I will kill you’Costco’s hot dog defied inflation from the very start. Costco’s hot dog offering was born in the company’s early days. Realizing the importance of the low-priced hot dog, the chain brought production in-house and switched to its own Kirkland Signature brand. Jim Sinegal, Costco’s co-founder, once told the company’s former CEO Craig Jelinek, “If you raise the effing hot dog, I will kill you.
Persons: , Scott Mushkin, Richard Galanti, Gus Faucher, Kirkland, Jim Sinegal, Costco’s, Craig Jelinek, , ” Sinegal Organizations: New, New York CNN, Costco, Bureau of Labor Statistics, R5, Federal Reserve, PNC Financial Services, Seattle Times Locations: New York, Portland , Oregon
American car insurance rates have reached a 50-year high, outpacing inflation. "All of these work together to create a situation where car insurance is a lot more expensive," she said. Additionally, the state drivers live in — and the local impact of the climate crisis — has a significant effect on car insurance rates. According to personal finance company NerdWallet, full coverage car insurance premiums nearly double if a driver is at fault for a crash. Car insurance rates are higher for families with teenagers, with rates going up 70% to 150% once someone under 18 is added to a family car insurance policy.
Persons: Laura Longero, Longero, What's Organizations: Service, Insurance, US Bureau of Labor Statistics, . Insurance, US Department of Transportation Locations:
CNN —Several New England universities and colleges have reached a pinnacle of at least $90,000 for undergraduate tuition and costs starting this fall. The nearly six-figure sums reflect the rising cost of higher education, far outstripping the average inflation for other goods and services. Schmeidel said very few Wellesley students pay the total fee, adding nearly 60% of its students receive financial aid and the average financial aid award is $67,469. Riley added 56% of domestic students received some form of aid for this academic year, with the average financial aid package being $67,000, for an average cost of attendance of $16,000. “Because this is an average, some of the students with greatest demonstrated financial need paid $0, and others paid more,” Riley said.
Persons: trumping Wellesley, , Stacey Schmeidel, Schmeidel, ” Schmeidel, Colin Riley, Riley, ” Riley, Jeremiah Quinlan, , Quinlan, Patrick Collins, Collins, ” Collins, CNN’s Allison Morrow Organizations: CNN, Yale University, Tufts University, Boston University, BU, Wellesley College, Tufts, Wellesley, College, Colleges, of Education, Labor, Yale Locations: New England, Boston
New York CNN —Food prices have gone a bit bananas — and that includes a famously priced 19-cent fruit at Trader Joe’s. The snack-heavy grocer told CNN on Monday that it recently increased the price of the banana to 23 cents, a more than 20% increase. The 19-cent banana is a well-known deal at Trader Joe’s — so much so that it’s ranked as the favorite piece of produce by the company’s customers. However, CBS News reported that experts from the World Banana Forum in March warned that climate change and rising temperatures can drive up banana prices. Trader Joe’s noted it has been able to lower prices for some of its other produce, such as raw almonds, romaine hearts, organic tri-color bell peppers, and green onions.
Persons: we’ve, fanbases, Joe’s, romaine, Dan Bane, Sonny …, they’ve, ” Bane Organizations: New, New York CNN, CNN, Food and Agriculture Organization, United Nations, Bureau of Labor Statistics, CBS News Locations: New York
The Center for American Progress, a left-leaning think tank, looked at just how much better union workers are faring. By analyzing the Federal Reserve's Survey of Consumer Finances, CAP found that in 2022, union households held $338,482 in median wealth. Black, nonunion households have a median household wealth of $61,500; meanwhile, Black union households hold around $164,6000 in median household wealth. Union membership rates have declined for decades, reaching a record low of 10% in 2023. The researcher VanHeuvelen previously told BI that the decline in union membership would be like if the wage premium for going to college disappeared.
Persons: it's, Zachary Parolin, Tom VanHeuvelen, VanHeuvelen Organizations: Service, American Progress, Reserve's Survey, Consumer Finances, CAP, Business, Bureau of Labor Statistics, Labor Statistics, of Labor Statistics, Research, Bocconi University, University of Minnesota Twin Cities, Workers, , United Auto Workers, UPS Teamsters, SAG Locations: United States
If you like your situation right now — your job, your house, your car — you can keep it. The labor market has cooled off somewhat, making it less advantageous to hunt for a new job. The car market is in a similar situation. Employers are hiring as if there's a relatively weak labor market, not a strong one. Yes, the labor market is strong, but it's not a great time to go looking for a new job.
Persons: Joanne Hsu, there's, they're, , Dana Peterson, that's, it's, Matt Darling, Darling, Tamara Charm, Charm, Emily Stewart Organizations: University of Michigan, Labor Statistics, Conference Board, Companies, Employers, Niskanen, McKinsey, Business
One afternoon in late February, an employee at the Bureau of Labor Statistics sent an email about an obscure detail in the way the government calculates inflation — and set off an unlikely firestorm. Economists on Wall Street had spent two weeks puzzling over an unexpected jump in housing costs in the Consumer Price Index. Several had contacted the Bureau of Labor Statistics, which produces the numbers, to inquire. Now, an economist inside the bureau thought he had solved the mystery. In an email addressed to “Super Users,” the economist explained a technical change in the calculation of the housing figures.
Organizations: Bureau of Labor Statistics, Wall, of Labor Statistics, Federal Reserve
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