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☆ Battle over Biden labor nominee Julie Su heats up
▼ + stars: | 2023-04-10 | by ( Nandita Bose | ) www.reuters.com time to read: +6 min

[1/2] Julie Su applauds while being nominated by U.S. President Joe Biden to serve as the Labor secretary during an event in the East Room of the White House in Washington, U.S., March 1, 2023. Crucial senators in Montana, West Virginia and Arizona, who voted for Su to become deputy Labor Secretary in 2021, are on the fence about her confirmation for the top job. The AFL-CIO will target Montana, West Virginia, Arizona and Maine, communicating support for Su to its members to get them to contact their state senators. A spokesperson for Maine's Republican Senator Susan Collins said she does not support Su's nomination. She voted no on Su's deputy secretary nomination in 2021, as did all Republicans.

☆ The Fed could easily drive Black unemployment much higher than the overall jobless rate
▼ + stars: | 2023-04-05 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

However, the jobless rate isn’t expected to be that low for long. While that’s a small improvement from the central bank’s previous 4.6% jobless rate estimate, economists say it’s possible the unemployment rate could rise above the Fed’s expectations. It can be difficult to slow an unemployment spiralEconomists say it’s hard to guess the trajectory of the unemployment rate this year, noting it could very well exceed the Fed’s estimate. As such, the Fed’s tightening efforts could easily drive the Black unemployment rate much higher than the overall jobless rate, said William Spriggs, an economics professor at Howard University and chief economist to the AFL-CIO. The Black unemployment rate will easily get to 9% in that scenario.”One other likely consequence of growing unemployment is slowing wage growth, Bivens said.

☆ The CEO of the world's biggest record company just got a new contract with stock options worth as much as $100 million
▼ + stars: | 2023-04-01 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

Universal Music's CEO could receive stock options worth up to $100 million under a new contract. He took a annual pay cut to $5 million in the new contract that runs to 2028. Half of the $100 million equity option will be paid out in installments if the share price hits the targets of 26.50 euros, 30 euros, and 38 euros. The stock closed Friday at 23.30 euros in Amsterdam, valuing the company at just over 42 billion euros ($45 billion). Apple CEO Tim Cook collected almost $100 million last year alone, making about $83 million in stock awards, $12 million in incentives and salary of $3 million, CNBC reported.

☆ Unemployment for Black and Hispanic women rose in February, but more workers join the labor force
▼ + stars: | 2023-03-10 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Olivier Douliery | AFP | Getty ImagesThe unemployment rate for Black and Hispanic women rose in February, but so did the number of people looking for jobs. Women aged 20 and over in the labor force tracked that move, with the unemployment rate rising slightly to 3.2% from 3.1%. Black women saw their unemployment rate jump to 5.1% from 4.7%. For Hispanic women, the labor force participation rate rose slightly to 61.3% from 61.1%, while the employment-population ratio stayed unchanged at 58.4%. In February, the U.S. economy added 311,000 payrolls, though the unemployment rate ticked up and wages rose slightly.

Schultz will testify on March 29 before the Senate Health, Education, Labor and Pensions Committee, the company and panel chairman Senator Bernie Sanders said on Tuesday. Schultz, who is stepping down from his post this month, had earlier declined an invitation from 11 senators to testify before the panel on March 9. The company previously rebuffed requests by Sanders for him to appear, instead offering for other executives to testify. "I look forward to hearing from him as to when he intends to end his illegal anti-union activities and begin signing fair first contracts with the unions," Sanders wrote on Twitter. Employees at more than 280 out of its roughly 9,000 company-operated U.S. locations have voted to join a labor union since 2021.

☆ Biden's clean energy factory jobs may elude U.S. union workers
▼ + stars: | 2023-03-06 | by ( Nichola Groom | ) www.reuters.com time to read: +9 min

Right to work laws allow employees to work in union-represented workplaces and be covered by collective bargaining agreements without joining a union or paying dues. American products, he vowed, would be made with union labor. Union labor. Many of the jobs created will be union jobs, the official added. "It's not a favorable environment, but we can still organize," Samantha Smith, senior adviser for clean energy jobs at the AFL-CIO, said in an interview.

☆ How the Fed can close the racial wealth gap: AFL-CIO's William Spriggs
▼ + stars: | 2023-02-22 | by ( Macklin Fishman | Lindsey Jacobson | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow the Fed can close the racial wealth gap: AFL-CIO's William SpriggsAFL-CIO chief economist and Howard University economics professor William Spriggs says that the impact of discrimination against Black employees is less acute when the labor market operates at full employment. He tells CNBC how the Federal Reserve can close the racial wealth gap and how an economic slowdown might affect Black workers.

☆ Reaching maximum employment will help close the racial wealth gap, says Howard University economics professor William Spriggs
▼ + stars: | 2023-02-22 | by ( Macklin Fishman | ) www.cnbc.com time to read: +2 min

Reaching maximum employment will help close the racial wealth gap, according to AFL-CIO chief economist and Howard University economics professor William Spriggs. In an interview with CNBC, Spriggs said the impact of discrimination against Black employees is less acute when the labor market operates at full employment. "When we have a really poor labor market, white high school dropouts do better than Black people with associate degrees," Spriggs explained. While Black Americans do withdraw from the labor market when the market collapses, Spriggs said this is not always reflected in the data on Black labor force participation. Implicit bias can also affect economic data and policy by dictating the questions that analysts ask, Spriggs said.

☆ Bernie Sanders, White House pressure railroads on paid sick leave for union workers
▼ + stars: | 2023-02-09 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +4 min

a member of the committee, demanded railroad carriers offer workers at least seven paid sick days. "If they think that those [Senate members] who voted for seven days sick pay that they forgot, they got it wrong. A House amendment that guaranteed comprehensive sick leave passed the House but failed in the Senate. After the vote, Sanders and more than 70 members sent a letter to President Joe Biden urging his administration to take action to guarantee paid sick days for rail workers. The failed vote on paid sick leave led union leaders to remind politicians that votes have election consequences.

☆ Exclusive: AFL-CIO wants bigger say in U.S. digital trade deals for workers
▼ + stars: | 2023-02-07 | by ( David Lawder | ) www.reuters.com time to read: +4 min

WASHINGTON, Feb 7 (Reuters) - The Biden administration has made digital trade the centerpiece of its trade negotiations, and the AFL-CIO wants a bigger say in how the U.S. Trade Representative's office sets goals in this area, arguing they are too often dictated by big technology companies. The USTR is expected to soon propose text on the digital chapter in negotiations for the Indo-Pacific Economic Framework, the Biden administration's signature economic agreement. U.S. Trade Representative Katherine Tai has pledged to create a "worker-centric" trade policy, but the AFL-CIO said digital trade negotiations too often make no mention of labor standards nor the workers who write software or support networks. "Corporations shouldn't dictate the rules of the global digital economy with no regard for working people," AFL-CIO President Liz Shuler said in a statement. Other AFL-CIO demands for digital trade negotiations include:- Requiring governments to enact strong policies to safeguard individuals' personal data as opposed to the current largely voluntary "self-regulation" model that has proven inadequate.

☆ Why Black workers are a canary in the coal mine for the U.S. economy
▼ + stars: | 2023-02-03 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +1 min

Watching labor data on Black workers in the U.S. can offer helpful clues about the strength – or weakness – of the economy, and even signal economic changes before they show up in the headline print. That's because Black workers are more able to find employment in strong labor markets and can be the first to lose their jobs when the economy weakens. "Black workers are the canary in the coal mine – are you actually hiring people?" "The Black unemployment rate continues to be the highest, indicating that Black workers are facing more challenges, having a more difficult time securing employment," said Valerie Wilson, director of the Economic Policy Institute's program on race, ethnicity and the economy. "We know that for every one percentage-point change in the national unemployment rate, we typically get close to a two percentage-point change in the Black unemployment rate," she said.

☆ Arena Football League relaunches with first Black commissioner of a professional sports league in the US
▼ + stars: | 2023-02-01 | by ( John Lynch | ) www.businessinsider.com time to read: +4 min

The Arena Football League (AFL) is relaunching under new leadership and plans to resume play in 2024, Insider has learned. Lee A. Hutton III, the new AFL commissioner, will become the first Black commissioner of a professional sports league in the US. In assuming his role as the new AFL commissioner, Hutton will become the first Black commissioner to lead a professional sports league in the United States. AFL commissioner Lee A. Hutton III. We believe we have assembled a world-class, operational team made up of C-Suite executives, expert sports trainers, football personnel, performance facilities, legal partners, professional team owners and former athletes."

☆ Here comes the biggest week of earnings. Plus an AI ode to the Dow
▼ + stars: | 2023-01-28 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

While only six companies in the Dow Jones Industrial Average are reporting next week, about 20% of the S & P 500 reports, making it the biggest week of earnings this season. The Dow and the S & P 500 gained 2.2% and 2.9% this week, respectively, while the Nasdaq Composite rose 4.7%. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ Canada's energy jobs transition bill sparks discord in oil heartland
▼ + stars: | 2023-01-22 | by ( Nia Williams | Steve Scherer | ) www.reuters.com time to read: +4 min

FILE PHOTO: Pipelines run at the McKay River Suncor oil sands in-situ operations near Fort McMurray, Alberta, September 17, 2014. REUTERS/Todd KorolPrime Minister Justin Trudeau’s Liberal government is expected to table its long-awaited workforce transition bill this spring, ahead of economic changes expected as they pursue ambitious goals to slash climate-warming emissions. The government of Alberta, Canada’s main crude-producing province, says the legislation will dismantle the oil and gas industry that makes up 5% of Canada’s GDP. The oil and gas sector employs around 185,000 workers, making the bill a hot topic in Alberta ahead a provincial election in May. Think tank Clean Energy Canada estimates there could be 200,000 clean energy jobs created by 2030.

☆ Union membership fell to record low in 2022, Bureau of Labor Statistics says
▼ + stars: | 2023-01-19 | by ( Rebecca Shabad | ) www.cnbc.com time to read: +2 min

Amazon Labor Union interim president Chris Smalls celebrates the first union election win at an Amazon warehouse on April 1, 2022, in New York. Union membership in the U.S. dropped to the lowest since the federal government began collecting such data in 1983, according to a report released Thursday by the Bureau of Labor Statistics. The agency found that the union membership rate fell to 10.1% in 2022, down from 10.3% in 2021. he Bureau of Labor Statistics began measuring the union membership rate in 1983, when it was 20.1% and there were 17.7 million workers. According to the 2022 data, the highest union membership rate was among people who worked in protective service, in education, training and libraries.

But mainstream economic data doesn't always reflect the struggle, according to William Spriggs, Howard University economics professor and chief economist for the AFL-CIO. Throughout the last year, employers claimed they were struggling to staff properly, citing a lack of workers. But as the workforce picked up, employers weren't actually hiring, Spriggs said. Specifically, he said, they weren't hiring Black workers. Watch the video to learn more about how implicit bias corrupts economic data and therefore our understanding of the current labor landscape.

☆ How implicit bias corrupts economic data: AFL-CIO Chief Economist William Spriggs
▼ + stars: | 2023-01-17 | by ( Lindsey Jacobson | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow implicit bias corrupts economic data: AFL-CIO Chief Economist William SpriggsAn economic slow down may hit the black labor force first, although AFL-CIO Chief Economist William Spriggs said traditional economic indicators may not show it. Watch the video to find out why.

☆ Here are Thursday's biggest analyst calls: Meta, Apple, Tesla, Netflix, Roku, Disney, Exxon & more
▼ + stars: | 2023-01-12 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Here are the Thursday's biggest calls Wall Street: Credit Suisse upgrades AECOM to outperform from neutral Credit Suisse said the company is a key beneficiary of infrastructure stimulus. UBS reiterates Apple as buy UBS said it's sticking with its buy rating on the stock but is concerned about App Store revenue declines. Credit Suisse upgrades Boeing to neutral from underperform Credit Suisse said in its upgrade of Boeing that it sees "stronger aircraft deliveries." RBC names Meta a top 2023 pick RBC said it sees "multiple expansion" on the horizon for Meta shares. " Rosenblatt reiterates Disney as buy Rosenblatt said activist investor Nelson Peltz's push for a Disney board seat could help shares.

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Jan 10 (Reuters) - A lawsuit filed Tuesday accuses six state-run medical schools in Texas of violating federal anti-discrimination laws by giving preferences to female and non-Asian minority applicants. The University of Texas and Texas Tech University, which operate the schools named in the new lawsuit, did not immediately respond to requests for comment. According to the lawsuit, Stewart in 2021 obtained enrollment data for the six schools after he was denied admission. Stewart said in the complaint that the data showed that the schools gave preferences to female and non-Asian minority applicants. Stewart accused the schools of violating federal laws prohibiting race and sex discrimination in federally funded educational programs.

☆ More than 7,000 nurses go on strike in New York City
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +2 min

Jan 9 (Reuters) - Thousands of nurses at two New York City hospitals went on strike on Monday after contract negotiations stalled over pay and staffing levels, a move that caused one of the facilities to postpone procedures and appointments. The walkout involves more than 7,000 nurses at Montefiore Medical Center in the Bronx and Mount Sinai Hospital in Manhattan, the New York State Nurses Association said in a statement. "These nurses are dedicated professionals who provide quality patient care under unimaginable conditions," New York State AFL-CIO president Mario Cilento said. Montefiore Medical Center also said it was committed to create over 170 new nursing positions. Since beginning contract negotiations four months ago, the union had been able to reach agreements or new contracts for nurses at seven other New York City hospitals.

☆ DeSantis' latest education plan targets teachers' unions by ending automatic dues in favor of monthly mailed-in checks
▼ + stars: | 2022-12-19 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +6 min

DeSantis' latest so-called "Freedom Blueprint" proposal appears similar to a measure the Florida legislature considered in 2021 and 2022 that the state's largest teachers' union, the Florida Education Association, called "anti-freedom" and "anti-educator." Even Charlie Crist, a former congressman and DeSantis' failed 2022 challenger, picked Miami-Dade's teachers' union boss, Karla Hernández-Mats, as his running mate. State lawmakers and the governor gave teachers bonuses this past year and increased pay — though largely among new teachers, according to the Florida Education Association. DeSantis acknowledged during his speech that changes to union dues might emaciate the labor groups, but said if teachers aren't paying dues then they should be decertified. The last two versions of the anti-union died in committee under opposition from Florida AFL-CIO and the Florida Education Association.

☆ Elizabeth Warren slams the Fed's Jerome Powell for 'pushing hard to get more people fired' as he continues to aggressively fight inflation
▼ + stars: | 2022-12-14 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The Federal Reserve hiked interest rates again today, but not at the same fast pace as past months. On Wednesday, the Federal Reserve announced it would be increasing interest rates yet again, raising them 0.5 percentage points. "He's pushing hard to get more people fired because he thinks that is one way to help bring down inflation," Warren told HuffPost's Arthur Delaney, referencing Federal Reserve Chair Jay Powell. This isn't the first time Warren has sounded the alarm on continued interest rate hikes. The Federal Reserve isn't the only body that could take action: Congress could step in with legislation aimed at lowering prices.

☆ Rail workers are rallying nationwide after both Congress and management refused them paid sick days, showing that the battle for time off isn't over
▼ + stars: | 2022-12-13 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

Rail workers won't give up sick leave and better conditions without a fight. However, a progressive-backed proposal to tack seven paid sick days onto that contract did not pick up enough votes to pass. "It is literally beyond belief that rail workers are not guaranteed this basic and fundamental human right. "Expanding paid sick leave access is a priority for President Biden," a White House spokesperson told Insider. There are 115,000 union-eligible rail workers across the US who prepared to walk out.

☆ Why aluminum plants in the U.S. are far more polluting than some of their counterparts abroad
▼ + stars: | 2022-12-06 | by ( Phil Mckenna | Inside Climate News | ) www.nbcnews.com time to read: +15 min

A plant worker uses a crane to lift a cask of molten aluminum a Century Aluminum Company plant in Hawesville, Ky. in 2017. Of the five remaining facilities, only the Century Aluminum Sebree plant in Robards, which employs 625 workers, and a smaller Alcoa plant in Massena, New York, run at full capacity. Phillip McKenna/NBC NewsSteinsen, of Century Aluminum, said the company has no plans to shut down its Sebree facility in Robards. In 2015, when the U.S. aluminum production was in steep decline, the EPA ended its industry partnership. In 2019, 7,510 metric tons of PFCs were emitted from global aluminum production, according to a study published last year in the Journal of Geophysical Research — Atmospheres.

☆ New research may have just paved the way for a 4-day work week
▼ + stars: | 2022-12-01 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

A new global study found a four-day work week was a "resounding success" in a pilot program. The research found the shortened work week was a "resounding success on virtually every dimension." Over the trial period, revenue among the participating companies rose 8.14%, and when compared to the same time period last year, revenue jumped 37.55%. The four-day work week has also caught attention of some lawmakers. "The 32-hour work week would go a long way toward finally righting that balance."

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