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☆ US consumer prices rise moderately; underlying inflation subsides
▼ + stars: | 2023-08-10 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

An increase in prices at the pump late in the month will likely be reflected in the August inflation report. Economists polled by Reuters had forecast the CPI would rise 0.2% last month and by 3.3% on a year-on-year basis. Reuters GraphicsThe CPI report is one of two before the Fed's Sept. 19-20 policy meeting. Underlying inflation was curbed by a 0.3% drop in core goods prices, which followed a 0.1% dip in June. But with worker productivity rising, economists are optimistic that labor costs will be contained.

Persons: Jim Vondruska, Will Compernolle, Lucia Mutikani, Paul Simao Organizations: Shoppers, REUTERS, Federal Reserve, Labor Department, Fed, Reuters, Financial, Treasury, Services, Reuters Graphics Reuters, Thomson Locations: Chicago , Illinois, U.S, WASHINGTON, New York

☆ VP Harris promises a 'raise' for US workers on federal projects
▼ + stars: | 2023-08-09 | by ( Jarrett Renshaw | ) www.reuters.com time to read: +3 min

Vice President Kamala Harris celebrated the new labor reforms at a Philadelphia union hall, calling the administration unapologetically pro-union. "When union wages go up, everyone's wages go up. The Davis-Bacon Act of 1931 tasks the government with establishing wage floors - known as prevailing wages - that apply to construction projects funded by the federal government. Today, it applies to more than one million construction workers on $200 billion of such projects, the administration said. Trade groups have long criticized the prevailing wage requirements, saying they discourage small businesses from seeking federal contracts.

Persons: Kamala Harris, Kevin Wurm, Biden, Joe Biden, Davis, handout, Ben Brubeck, Jarrett Renshaw, Trevor Hunnicutt, Alistair Bell Organizations: Eastern, Jobs, REUTERS, U.S, Democratic Party, Labor Department, Trade, Biden, Builders, Contractors, Trump, Edison Research, Thomson Locations: Rewild, Washington , U.S, Philadelphia, America, Pennsylvania

☆ Norfolk Southern agrees to boost safety at Ohio derailment site, US says
▼ + stars: | 2023-08-09 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

General view of the site of the derailment of a train carrying hazardous waste, in East Palestine, Ohio, U.S., March 2, 2023. REUTERS/Alan Freed/File PhotoWASHINGTON, Aug 9 (Reuters) - Norfolk Southern Corp (NSC.N) has agreed to improve conditions for workers rebuilding and cleaning up the site of its February derailment in East Palestine, Ohio, the U.S. Labor Department said on Wednesday. A Norfolk Southern-operated train derailed on Feb. 3 in Ohio, causing cars carrying toxic vinyl chloride and other dangerous chemicals to spill and catch fire. In March, Ohio and the U.S. Justice Department sued Norfolk Southern, seeking to ensure the railroad pays the full cost of cleanup and any long-term effects of the derailment. A U.S. Senate panel in May approved rail safety legislation that tightens rules on trains carrying explosive substances like the Norfolk Southern-operated train.

Persons: Alan Freed, We’ve, Alan Shaw, Susan Heavey, David Shepardson, Doina Chiacu, Deepa Babington, Jonathan Oatis Organizations: REUTERS, Norfolk Southern Corp, U.S . Labor Department, Teamsters ’ Railway Union, Safety, Health Administration, OSHA, Waste, Norfolk Southern, U.S . Justice Department, U.S, Senate, Republicans, Thomson Locations: East Palestine , Ohio, U.S, Norfolk Southern, Ohio, Norfolk

☆ Soft landing vs. mild recession: What advisors are telling their clients about the economy
▼ + stars: | 2023-08-08 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +3 min

These shifts have sparked conversations among financial advisors and their clients, who may have varying levels of optimism about the country's economic outlook. Of course, with recessions notoriously difficult to predict, even for economists, advisors have warned clients about making fear-based investing decisions. Recession 'highly unlikely' in the next 12 monthsOne definition of a U.S. recession is two consecutive quarters of negative gross domestic product, or GDP, which happened during the first two quarters of 2022. 'We constantly educate our clients'Whether the economy is heading for a mild recession or soft landing, experts emphasize the need for ongoing client education. "We constantly educate our clients and make them prepared for whatever the world's going to throw their way," she added.

Persons: buzzword, Douglas Boneparth, Boneparth, Ted Jenkin, Jenkin, Carolyn McClanahan Organizations: Federal Reserve, Bone, CNBC's, U.S . Bureau of Labor Statistics, U.S . Labor Department, National Bureau of Economic Research, CNBC's FA, Planning Partners Locations: U.S, New York, Atlanta, CNBC's, Jacksonville , Florida

☆ Harris promises a 'raise' for U.S. workers on federal projects
▼ + stars: | 2023-08-08 | by ( ) www.cnbc.com time to read: +3 min

Persons: Kamala Harris, Biden, Joe Biden, Davis, handout, Ben Brubeck Organizations: White, Washington , D.C, U.S, Democratic Party, Labor Department, Trade, Biden, Builders, Contractors, Trump, Edison Research Locations: Washington ,, Philadelphia, America, Pennsylvania

☆ VP Harris to celebrate new rules boosting wages, protections on federal projects
▼ + stars: | 2023-08-08 | by ( Jarrett Renshaw | ) www.reuters.com time to read: +3 min

Vice President Kamala Harris will visit Philadelphia on Tuesday to celebrate the new labor reforms at a union hall. "The rules are more important than ever to ensure fair wages for workers and ensuring good wages for them," a senior administration official said. The Davis-Bacon Act, first established in 1931, tasks the federal government with establishing wage floors - known as prevailing wages - that apply to construction projects partially or fully funded by the federal government. It applies to more than one million construction workers on $200 billion of such projects, the administration said. Trade groups have long criticized the prevailing wage requirements under the Davis-Bacon Act, saying they are burdensome and discourage small businesses from seeking federal contracts.

Persons: Kamala Harris, Kevin Wurm, Biden, Harris, Joe Biden, Davis, Bacon, Ronald Regan, Jarrett Renshaw, Bernadette Baum Organizations: Eastern, Jobs, REUTERS, Philadelphia, Labor Department, Bacon, Trade, The Labor Department, Thomson Locations: Rewild, Washington , U.S

☆ Hedge fund manager Dan Niles says S&P 500 could fall by 10% — and the stocks to play it
▼ + stars: | 2023-08-08 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

The S & P 500 could decline by 10% by the end of the year to correct for a recent rise in valuation multiples, according to hedge fund manager Dan Niles. @CL.1 YTD line How to play it Niles, whose fund holds a concentrated portfolio of between 20-40 stocks, also revealed that he was short Apple and long Amazon . According to the hedge fund manager, Apple's valuation at 30x P/E has been made unsustainable after the iPhone-maker reported three consecutive quarters of declining revenues and net profits. That's terrific if you own it, but that's not a game I want to play counting on multiple expansion offsetting earnings going down," Niles added. And that's with the backdrop where I'm concerned about this [multiple expansion]," Niles added.

Persons: Dan Niles, CNBC's, Niles, that's Organizations: Federal, The Labor Department, department's Bureau of Labor Statistics, Apple, Meta Locations: Niles, United States, that's

☆ US small businesses feel better about the economy, but still can’t find enough skilled workers
▼ + stars: | 2023-08-08 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

As inflation continued to slow last month, optimism improved among the more than 1,300 small businesses surveyed, though it remains subdued compared to pre-pandemic times. Of owners hiring or trying to hire, 92% reported few or no qualified applicants for their available jobs, also unchanged from the prior month. “With small business owners’ views about future sales growth and business conditions dismal, owners want to hire and make money now from solid consumer spending,” said Bill Dunkelberg, the NFIB’s chief economist, in a release. Despite the economy holding steady, optimism among small businesses isn’t back to where it was before the pandemic. Even though businesses are still grappling with difficulties in hiring, cooling inflation has taken some of the edge off.

Persons: ”, Bill Dunkelberg, they’ve Organizations: DC CNN, National Federation of Independent Business, Federal Reserve, Gross, Federal Reserve Bank of Cleveland, Labor Department, Wall Street Locations: Washington

☆ Gold off 3-week lows as investors brace for U.S. inflation data
▼ + stars: | 2023-08-07 | by ( ) www.cnbc.com time to read: +2 min

Gold prices dipped on Monday as the U.S. dollar climbed ahead of U.S. inflation data this week. Still, bullion was off three-week lows after slowing U.S. job growth knocked bond yields from their recent highs. Markets also took stock of labor department data showing solid wage gains and a decline in the unemployment rate that suggested continued tightness in labor market conditions. Data on U.S. consumer prices, due on Thursday, will be in focus to assess whether more rate hikes are needed to tame inflation. Non-yielding gold is often sought as a safe investment against inflation but tends to lose its sheen when rates rise.

Persons: Yeap Jun Rong, Edward Meir Organizations: U.S, Treasury, IG, Fed, U.S . Locations: Moscow, U.S

☆ The back-to-office backfire: Companies ending WFH perks lose out on top talent, who view flexible work as equivalent to an 8% raise
▼ + stars: | 2023-08-06 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

Employees see flexible workplaces as an equivalent benefit to an 8% raise, WSJ reported. In some cases, employer pressure to return to in-person work results in employee efforts to unionize or strike over the rollback in benefits, according to Entrepreneur magazine. Insider previously reported work stoppages seen have the highest level of public support since 1965. Some employees, like an Arizona administrator making six figures, have quit altogether when called back to the office, Insider previously reported. Research by Prithwiraj Choudhury, an associate professor at the Harvard Business School and remote work expert, found that employees who worked from home 75% of the time were the most productive, Insider previously reported.

Persons: Nicholas Bloom, Prithwiraj Choudhury Organizations: Service, Disney, JPMorgan, Guardian, Labor Department, Actors Guilds, Employers, Street, Workers, Stanford, Harvard Business School Locations: Wall, Silicon, Arizona

☆ Ahead of two key inflation reports, what would a soft landing look like exactly?
▼ + stars: | 2023-08-06 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

But aside from simply skirting a recession, it’s not obvious what the economy would look like in a soft landing. And who even declares that the Fed has officially defied the odds and achieved a soft landing? The main aspect of a soft landing, according to economists, is the absence of a recession, which is determined by the National Bureau of Economic Research (NBER.) In a soft landing, the job market has to remain intact. The other key feature of a soft landing is for the Fed to successfully control inflation, but that’s open to some interpretation.

Persons: we’ve, ”, Kayla Bruun, “, Julia Pollak, ” Pollak, Josh Markman, cooldown, Austan Goolsbee, ” Goolsbee, Raphael Bostic, Michelle Bowman, Patrick Harker, Armour, Ralph Lauren Organizations: CNN Business, Bell, DC CNN, Federal Reserve, Bank of America, Fed, National Bureau of Economic Research, Morning, Atlanta, ZipRecruiter, Labor, Bel Air Investment Advisors, Federal, Federal Reserve Bank of Chicago, Bloomberg, Atlanta Fed, “, Tyson Foods, UPS, Fox, Restaurant Brands, The National Federation of Independent Business, US Commerce Department, China’s National Bureau of Statistics, Disney, US Labor Department, National Statistics, University of Michigan Locations: Washington

☆ Fed's Bowman says more US rate hikes likely will be needed
▼ + stars: | 2023-08-05 | by ( ) www.reuters.com time to read: +3 min

REUTES/Ann Saphir/File PhotoAug 5 (Reuters) - The U.S. Federal Reserve will likely need to raise interest rates further to bring down inflation, Governor Michelle Bowman said on Saturday. Bowman said she supported the Fed's quarter-point increase in interest rates last month, given still-high inflation, strong consumer spending, a rebound in the housing market and a labor market that is helping to feed higher prices. In forecasts published in June, most Fed policymakers expected to end the year with the Fed policy rate at 5.6%, one quarter-point hike above the setting established at the Fed's late-July meeting. Bowman's use of the plural "rate increases" in her remarks on Saturday indicates she thinks the Fed will need to go higher than that. "I will also be watching for signs of slowing in consumer spending and signs that labor market conditions are loosening."

Persons: Michelle Bowman, Ann Saphir, Bowman, Jerome Powell, Banks, Tom Hogue Organizations: Federal, Hoover Institution, REUTES, U.S . Federal Reserve, Kansas Bankers Association, Market Committee, Labor, Thomson Locations: Palo Alto , California, U.S

A partial counterweight to Apple for the S&P 500 and Nasdaq was Amazon.com. Amazon's rise were an 11-point positive for the S&P 500. Reuters GraphicsAverage hourly earnings rose 0.4% in July, unchanged from the previous month, exceeding expectations, taking the year-on-year increase in wages to 4.4%. DraftKings' (DKNG.O) shares rose 5.8% after the sports-betting firm raised its fiscal year 2023 revenue outlook. The S&P 500 posted 19 new 52-week highs and 11 new lows; the Nasdaq Composite recorded 54 new highs and 91 new lows.

Persons: dents, jitters, Said Greg Bassuk, Brendan McDermid, Carl Icahn, DraftKings, Echo Wang, Shubham Batra, Bansari, Savio D'Souza, Shounak Dasgupta, Shinjini Ganguli, Louise Heavens, David Gregorio Our Organizations: Companies, Apple, Dow, Nasdaq, AXS Investments, Treasury, Labor Department, Reuters, New York Stock Exchange, REUTERS, Microsoft, Dow Jones, Icahn Enterprises, Hindenburg, NYSE, Thomson Locations: New York, Ukraine, China, New York City, U.S, Bengaluru

☆ On tap next week: Two key inflation reports and 4 Club earnings releases. Here's what we're looking for
▼ + stars: | 2023-08-05 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Economic releases : The Labor Department releases its monthly consumer price index and producer price index on Thursday and Friday, respectively. For that reason, we'd be content if the July figure doesn't indicate a resurgence of rising wholesale costs, which is a concern given a recent uptick in energy prices. On Tuesday before the opening bell, Club holding Eli Lilly (LLY) reports. Finally, Club names Walt Disney (DIS) and Wynn Resorts (WYNN) will report on Wednesday after the closing bell. In preparation for these releases, be sure to check out our first-quarter earnings report card .

Persons: we'll, Knight, Eli Lilly, We'll, donanemab, Walt Disney, We're, Tyson, Henry Schein, Li Auto, Armour, WEN, Ralph Lauren, Price, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nasdaq, Labor Department, Reserve, Manufacturing, ADP, Fitch, AAA, U.S ., PPI, Coterra Energy, Walt, Wynn Resorts, Disney, Tyson Foods, TSN, KKR, Energy, Paramount, UPS, Barrick, Duke Energy, Restaurant Brands, Warner Music, Fox Corp, NRG Energy, AMC, Bros, Endeavor, IAC, Sony, SONY, Brookfield Asset Management, WYNN, Trade, Novo Nordisk, US Foods, News Corp, Air Canada, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, Getty Locations: United States, Mounjaro, Hollywood, Las Vegas, Boston, Macao, PENN, Valvoline, VVV, Credicorp, New York City

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. Data for June additions was revised lower to 185,000 jobs, from 209,000 reported previously. Reuters GraphicsAverage hourly earnings rose 0.4% in July, unchanged from the previous month, exceeding expectations, taking the year-on-year increase in wages to 4.4%. The yield on the 10-year benchmark Treasury note dipped after the jobs data, partly boosting some megacap stocks. Buoying the S&P 500 index, Amazon.com shares (AMZN.O) rose after the company issued an upbeat third-quarter outlook.

Persons: Brendan McDermid, Greg Bassuk, jitters, Said, Echo Wang, Shubham Batra, Bansari, Savio D'Souza, Shounak Dasgupta, Shinjini Ganguli, Louise Heavens, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Apple, Nasdaq, Treasury, AXS Investments, Labor Department, Reuters, Microsoft, Dow Jones, Thomson Locations: New York City, U.S, Ukraine, China, New York, Bengaluru

[1/3] Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. Nonfarm payrolls increased by 187,000 jobs last month, the Labor Department said in its closely watched employment report on Friday, slightly below expectations of 200,000 jobs. U.S. Treasury yields dropped after jobs data on Friday showed the U.S. economy added fewer jobs than expected in July, but investors hesitated to rule out further monetary tightening. Oil prices headed for a sixth straight weekly gain, driven by the prospect of reduced supply from Saudi Arabia and Russia. U.S. crude rose 1.4% to $82.69 per barrel and Brent was at $86.10, up 1.13% on the day.

Persons: Mike Segar, Rick Rieder, Randy Frederick, Charles Schwab, Frederick, Sterling, Fitch, Brent, Lawrence Delevingne, Amanda Cooper, Elizabeth Howcroft, Ankur Banerjee, Sruthi Shankar, Sharon Singleton, Nick Macfie, Diane Craft Organizations: Wall, New York Stock Exchange, REUTERS, Apple, Treasury, U.S ., Labor Department, Dow Jones, Nasdaq, FTSE, U.S . Federal, Bank of England, U.S . Treasury, Thomson Locations: Manhattan, New York City , New York, U.S, Austin , Texas, United States, Saudi Arabia, Russia, Boston, London

The yield on the 10-year benchmark note dipped on Friday after the jobs data, but still remained above 4%, partly boosting some megacap stocks. "At this point in some ways the jobs data doesn't do much to the Fed. Giving solid boost to the S&P 500 index, Amazon.com shares (AMZN.O) surged 10.9% after the company issued an upbeat third-quarter outlook. Of the 422 companies in the S&P 500 that have reported quarterly earnings as of Friday, 79.1% have beat analysts' estimates, according to Refinitiv data. Amgen (AMGN.O) gained 6.2% after it reported a higher quarterly profit on strong sales of its cholesterol, osteoporosis and other drugs.

Persons: Brendan McDermid, David Russell, Stocks, Carl Icahn, DraftKings, Shubham Batra, Bansari, Savio D'Souza, Shounak Dasgupta, Shinjini Organizations: New York Stock Exchange, REUTERS, Apple, Dow, Nasdaq, Labor Department, Data, Reuters, Fed, Treasury, Microsoft, Dow Jones, Icahn Enterprises, Hindenburg, NYSE, Thomson Locations: New York City, U.S, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. All eyes will be squarely on the July U.S. nonfarm payrolls report, due at 8:30 a.m. ET, with a Reuters poll of economists estimating payrolls increased by 200,000 jobs last month, after having risen 209,000 in June, showing labor market conditions remain tight. "Today's NFP data would be important for setting the market tone for the coming weeks," Jefferies strategist Mohit Kumar said. ET, Dow e-minis were up 10 points, or 0.03%, S&P 500 e-minis were up 8.5 points, or 0.19%, and Nasdaq 100 e-minis were up 44.25 points, or 0.29%.

Persons: Brendan McDermid, Amazon's, nonfarm, Jefferies, Mohit Kumar, Stocks, DraftKings, Shubham Batra, Bansari, Savio D'Souza, Shounak Organizations: New York Stock Exchange, REUTERS, Apple Futures, Dow, Nasdaq, Amazon.com, Microsoft, Labor Department, Fitch, AAA, Dow e, Horizon Therapeutics, Sports, Thomson Locations: New York City, U.S, States, Bengaluru

☆ Slower, but still strong US employment growth expected in July
▼ + stars: | 2023-08-04 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

The Labor Department's closely watched employment report on Friday is still expected to show a tight labor market, with the unemployment rate steady near multi-decade lows, though wage growth probably moderated. Nonfarm payrolls likely increased by 200,000 jobs last month, after rising 209,000 in June, according to a Reuters survey of 80 economists. Still, employment growth would be double the roughly 100,000 jobs per month needed to keep up with the increase in the working age population. Striking Hollywood writers and actors also likely had no impact on employment growth. Though annual wage growth remains too high to be consistent with the Fed's 2% inflation target, it would be the latest indication of wage pressures continuing to subside into the third quarter.

Persons: Elizabeth Frantz, Sam Bullard, Nonfarm, Carl Riccadonna, Sung Won Sohn, Veronica Clark, Lucia Mutikani, Diane Craft Organizations: REUTERS, Federal Reserve, Labor, Fed, BNP, Labor Department's Bureau of Labor Statistics, Institute for Supply, Labor Department, Conference, Finance, Loyola Marymount University, Citigroup, Thomson Locations: Arlington , Virginia, U.S, WASHINGTON, Wells, Charlotte , North Carolina, New York, Los Angeles

“It’s really relative to just pricing against bond yields”, said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management in Minneapolis. Eight of the eleven main S&P 500 sectors declined, with more interest rates sensitive Utilities(.SPLRCU) and Real Estate (.SPLRCR) leading losses, dropping 2.3% and 1.4% respectively. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. Second-quarter earnings for companies in the S&P 500 are now expected to fall 5% from a year earlier, according to Refinitiv data. The S&P 500 posted 14 new 52-week highs and 6 new lows; the Nasdaq Composite recorded 58 new highs and 88 new lows.

Persons: “ It’s, Tom Hainlin, …, Thomas Barkin, Brendan McDermid, Echo Wang, Shubham Batra, Bansari, Anil D'Silva, David Gregorio Our Organizations: PayPal, Qualcomm, Dow, Nasdaq, Treasury, U.S, Bank Wealth Management, Labor Department, Investors, Richmond Federal, Dow Jones, Traders, New York Stock Exchange, REUTERS, PayPal Holdings, Spirit Airlines, NYSE, Thomson Locations: Minneapolis, U.S, New York City, New York, Bengaluru

☆ July jobs report: U.S. payroll growth totaled 187,000, lower than expected
▼ + stars: | 2023-08-04 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

A more encompassing unemployment rate that includes discouraged workers and those holding part-time jobs for economic reasons fell to 6.7%, down 0.2 percentage point from June. The survey of households, which is used to calculate the unemployment rate, showed a more robust gain of 268,000. The unemployment rate for Blacks moved lower to 5.8% while the rate for adult women nudged higher to 2.7%. A 3.5% unemployment rate, you can't complain about that," said Satyam Panday, U.S. chief economist at S&P Global Ratings. This is a "really, really solid labor market," said Jonathan Stokoe, senior vice president at job placement firm Adecco.

Persons: Nonfarm, Dow Jones, Stocks, Satyam Panday, Jonathan Stokoe, Rick Rieder, Jerome Powell, Goldman Sachs Organizations: Labor Department, Federal Reserve, Dow Jones, Treasury, Blacks, Gross, Atlanta, Group, Fed, Bank of America Locations: U.S, BlackRock

In the past, he would have swiftly chopped 10% of the workers that run his bag-making machines, or about 15 people. Faced with the tightest job market in decades, many have become less trigger-happy with layoffs, even in the face of a cooling economy. But, so far, the economy has continued to grow, albeit more slowly, and the job market has powered onward. Reuters Graphics'HOLD ONTO YOUR LABOR FORCE'At least one major company has adopted a formal strategy of hoarding workers. "I don't think it's the case that many businesses are holding onto workers who are idle," she said.

Persons: Kevin Kelly, Nathan Frandino, Kelly, Alan H, Shaw, they're, Dana Peterson, Peterson, Arnold Kamler, Julia Pollak, Thomas Simons, We're, Timothy Aeppel, Dan Burns, Paul Simao Organizations: Emerald Packaging, REUTERS, Packaging, Employers, Federal Reserve, Labor, Reuters Graphics, Norfolk, Reuters, U.S, Survey, Labor Department, Conference Board, Business Council, Kent International, Jefferies, Thomson Locations: California, Union City , California, U.S, San Francisco, Norfolk Southern, downturns, Atlanta, New York, South Carolina, rehire, Los Angeles

☆ Extreme heat is holding the economy back. Don't expect federal legislation to help any time soon.
▼ + stars: | 2023-08-04 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +8 min

There are no federal regulations protecting workers in extreme heat. Biden announced plans to protect workers last week with more enforcement of heat-safety violations. "I urge the administration to move quickly to create this national heat standard to protect workers on the job. Last year, business groups sued Oregon over extreme heat worker protection rules, arguing the state overstepped its statutory authority in requiring employers to pay workers during breaks. However, some experts believe that investments to protect workers, such as rearranging shifts or changing uniform colors, pay off since workers can be more productive in the longer run.

Persons: Biden, Marc Freedman, Algernon Austin, Joe Biden, Bernie Sanders, haven't, Austin Organizations: Service, United States Chamber of Commerce, New York Times, OSHA, Center for Economic, Policy Research, Research, Labor Department, National Oceanic, Atmospheric Administration, Department of, Democratic, Occupational Safety, Health Administration, Safety, UPS, Asuncion Valdivia Heat, American Farm Bureau Federation, National Demolition Association Locations: Wall, Silicon, California , Colorado, Washington, America, Oregon, Texas, California , Michigan, Georgia, Asuncion Valdivia

☆ What to expect from the jobs report: Steady, but cooler growth
▼ + stars: | 2023-08-04 | by ( Alicia Wallace | ) edition.cnn.com time to read: +8 min

But markets and economists are expecting another solid jobs report Friday morning. And while economic data isn’t typically the sexiest of topics, the government’s jobs report has in recent months delivered plenty of excitement and its fair share of surprises. Last July, for example, the US economy added 568,000 jobs — more than double the 250,000 that economists had expected. Come Friday, the government’s jobs report for this July might not end up being quite so shocking. In fact, it could be relatively humdrum: A slight cooling in job growth, and unemployment holding steady.

Persons: Minneapolis CNN — Fitch, ”, Daniel Zhao, Refinitiv, Chris Rupkey, That’s, Michael Gapen, Janet Yellen, Glassdoor’s Zhao, ” Zhao, there’s, ” Andy Challenger, Challenger, ” Gus Faucher, they’re, Becky Frankiewicz, “ Organizations: Minneapolis CNN, Glassdoor, Bank of America, ” Bank of America, Business, Conference Board, Fitch, Challenger, “ Companies, Labor Department, “, PNC Financial Services Group, CNN, Labor Statistics, BLS, “ Employers, ManpowerGroup Locations: Minneapolis, United States

☆ Here's where the jobs are for July 2023 — in one chart
▼ + stars: | 2023-08-04 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

The health care and social assistance category grew by 87,100 jobs last month, according to the Labor Department. The labor market added a smaller-than-expected 187,000 jobs in July, but one sector delivered roughly half of that total. Health care and social assistance added more than 70,000 jobs in each of the prior two months as well. Ambulatory care services alone added 35,000 jobs in July. Temporary help employment was a leading indicator of overall employment in the 2001 and 2008 recessions," Caldwell said.

Persons: Preston Caldwell, Caldwell Organizations: Labor Department, Health, Morningstar

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