Labor/Economics
Re: Labor/Economics
US consumer sentiment rises to six-month high on rate relief
SENTIMENT among US consumers increased in October to a six-month high, as households grew more upbeat about buying conditions, partly because of cheaper financing costs.
The final October sentiment index rose to 70.5, from 70.1 a month earlier, according to the University of Michigan. The preliminary reading was 68.9.
https://www.businesstimes.com.sg/intern ... ate-relief
SENTIMENT among US consumers increased in October to a six-month high, as households grew more upbeat about buying conditions, partly because of cheaper financing costs.
The final October sentiment index rose to 70.5, from 70.1 a month earlier, according to the University of Michigan. The preliminary reading was 68.9.
https://www.businesstimes.com.sg/intern ... ate-relief
Re: Labor/Economics
There does seem to be a dreary cycle going on here, with no real progress toward any long term resolution of problems.
"We must remember that we cannot abandon the truth and remain a free nation." --Liz Cheney, Republican, 7/21/22
Re: Labor/Economics
Consumer confidence surges as election nears, while job openings move lower
Consumers grew more optimistic about the U.S. economy heading into the contentious presidential election even as job openings hit multi-year lows, according to separate reports released Tuesday.
The Conference Board’s consumer confidence index for October rose more than 11% to a reading of 138, its biggest one-month acceleration since March 2021. Along with that, the board’s expectations index of future conditions jumped nearly 8%, to a reading of 89.1 that is well clear of the sub-80 level that indicates a recession.
https://www.cnbc.com/2024/10/29/consume ... lower.html
Consumers grew more optimistic about the U.S. economy heading into the contentious presidential election even as job openings hit multi-year lows, according to separate reports released Tuesday.
The Conference Board’s consumer confidence index for October rose more than 11% to a reading of 138, its biggest one-month acceleration since March 2021. Along with that, the board’s expectations index of future conditions jumped nearly 8%, to a reading of 89.1 that is well clear of the sub-80 level that indicates a recession.
https://www.cnbc.com/2024/10/29/consume ... lower.html
Re: Labor/Economics
U.S. Added 12,000 Jobs In October—Final Labor Market Datapoint Before Election Far Worse Than Expected
The U.S. labor market grew by much less than expected in October, according to a government report released Friday morning, providing the final major update on the state of the American economy ahead of Election Day.
https://www.forbes.com/sites/dereksaul/ ... -expected/
The U.S. labor market grew by much less than expected in October, according to a government report released Friday morning, providing the final major update on the state of the American economy ahead of Election Day.
https://www.forbes.com/sites/dereksaul/ ... -expected/
Re: Labor/Economics
Machinist union votes to accept Boeing offer, end strike
BREAKING NEWS UPDATE (9 p.m., 11/4): The Boeing machinist union strike ended Monday night after 59% of workers voted to accept the company’s latest offer. The union reported the development Monday night in a post published on X.
https://mynorthwest.com/4005215/machini ... er-boeing/
BREAKING NEWS UPDATE (9 p.m., 11/4): The Boeing machinist union strike ended Monday night after 59% of workers voted to accept the company’s latest offer. The union reported the development Monday night in a post published on X.
https://mynorthwest.com/4005215/machini ... er-boeing/
Re: Labor/Economics
US trade deficit widens sharply in September
WASHINGTON (Reuters) - The U.S. trade deficit widened sharply in September as businesses boosted imports to meet robust domestic demand and in anticipation of higher tariffs on goods.
The trade gap increased 19.2% to $84.4 billion from a revised $70.8 billion in August also as exports fell, the Commerce Department's Bureau of Economic Analysis said on Tuesday. Economists polled by Reuters had forecast the trade deficit swelling to $84.1 billion from the previously reported $70.4 billion in August.
https://finance.yahoo.com/news/us-trade ... 30945.html
WASHINGTON (Reuters) - The U.S. trade deficit widened sharply in September as businesses boosted imports to meet robust domestic demand and in anticipation of higher tariffs on goods.
The trade gap increased 19.2% to $84.4 billion from a revised $70.8 billion in August also as exports fell, the Commerce Department's Bureau of Economic Analysis said on Tuesday. Economists polled by Reuters had forecast the trade deficit swelling to $84.1 billion from the previously reported $70.4 billion in August.
https://finance.yahoo.com/news/us-trade ... 30945.html
Re: Labor/Economics
US weekly jobless claims up slightly; unit labor costs stir inflation fears
WASHINGTON (Reuters) -The number of Americans filing new applications for unemployment benefits rose slightly last week, suggesting no material change in the labor market and reinforcing views that hurricanes and strikes had resulted in job growth almost stalling in October.
Though the labor market is easing, wage pressures are not showing a significant cooling, casting a shadow over the inflation and interest rate outlook. Unit labor costs increased at a solid clip in the third quarter, other data from the Labor Department showed on Thursday.
https://finance.yahoo.com/news/us-weekl ... 04983.html
WASHINGTON (Reuters) -The number of Americans filing new applications for unemployment benefits rose slightly last week, suggesting no material change in the labor market and reinforcing views that hurricanes and strikes had resulted in job growth almost stalling in October.
Though the labor market is easing, wage pressures are not showing a significant cooling, casting a shadow over the inflation and interest rate outlook. Unit labor costs increased at a solid clip in the third quarter, other data from the Labor Department showed on Thursday.
https://finance.yahoo.com/news/us-weekl ... 04983.html
Re: Labor/Economics
Look for the GOP Congress and Senate to quickly introduce and pass a national right-to-work law as one of the first things they do.
And there won’t be anything we can do about it.
And there won’t be anything we can do about it.
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- Posts: 1189
- Joined: Wed Aug 21, 2024 8:58 pm
Re: Labor/Economics
It’s always introduced. And any time the GOP gets total power in a non-RTW state, it’s the FIRST thing they introduce and pass.
Of course, they never campaign on it. But it’s the first thing they do.
And you’ll be cheering it.
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- Posts: 1189
- Joined: Wed Aug 21, 2024 8:58 pm
Re: Labor/Economics
Works well for the 26 right to work states. And no one should be forced to join or pay money to a union.
Re: Labor/Economics
Like I said. Anything to drive wages down for working people. Look for the Department of Labor to crack down on labor union’s ability to do business too. It’ll be the department of anti-labor. They’ll basically shut down the NLRB. Companies will be able to break the law and contracts at will.Greengrass wrote: ↑Thu Nov 07, 2024 2:09 pm Works well for the 26 right to work states. And no one should be forced to join or pay money to a union.
Re: Labor/Economics
The only thing RTW laws do is allow you not to be forced to join a labor union.
Why should any American be forced to join any organization they didn't want to join
" I am a socialist " Bernie Sanders
Re: Labor/Economics
Glenn, this pisses me off because it's a lie, and you've known for YEARS that it's a lie. You don't have to join anything. You do have to pay a fee for services rendered.
But no one is forced to join a union. This is from the National Labor Relations Board: https://www.nlrb.gov/about-nlrb/rights- ... union-dues
The amount of dues collected from employees represented by unions is subject to federal and state laws and court rulings. The NLRA allows unions and employers to enter into union-security agreements which require the payment of dues or dues equivalents as a condition of employment.
Federal law allows unions and employers to enter into "union-security" agreements which require all employees in a bargaining unit to become union members and begin paying union dues and fees within 30 days of being hired. Employees may choose not to become union members and pay dues, or opt to pay only that share of dues used directly for representation, such as collective bargaining and contract administration. Known as objectors, they are no longer union members, but are still protected by the contract. Unions are obligated to tell all covered employees about this option, which was created by a Supreme Court ruling and is known as the Beck right.
If you have to continue to, over and over, repeat this lie, I will have to assume you're just an habitual liar.
Re: Labor/Economics
gounion wrote: ↑Thu Nov 07, 2024 6:24 pm Glenn, this pisses me off because it's a lie, and you've known for YEARS that it's a lie. You don't have to join anything. You do have to pay a fee for services rendered.
But no one is forced to join a union. This is from the National Labor Relations Board: https://www.nlrb.gov/about-nlrb/rights- ... union-dues
The amount of dues collected from employees represented by unions is subject to federal and state laws and court rulings. The NLRA allows unions and employers to enter into union-security agreements which require the payment of dues or dues equivalents as a condition of employment.
Federal law allows unions and employers to enter into "union-security" agreements which require all employees in a bargaining unit to become union members and begin paying union dues and fees within 30 days of being hired. Employees may choose not to become union members and pay dues, or opt to pay only that share of dues used directly for representation, such as collective bargaining and contract administration. Known as objectors, they are no longer union members, but are still protected by the contract. Unions are obligated to tell all covered employees about this option, which was created by a Supreme Court ruling and is known as the Beck right.
If you have to continue to, over and over, repeat this lie, I will have to assume you're just an habitual liar.
Ok.i misspoke. Nobody should be forced to pay money to an organization they refuse to join. Just as nobody should be forced to join a union as a condition of employment.
And
No union should ever represent or be forced to represent a non member.
Also I wonder just how hard the union fights for a non member. If they do at all.it would be just to prevent a precedent from being established.
" I am a socialist " Bernie Sanders
Re: Labor/Economics
No, you knew it wasn't the truth. I've been telling you that for YEARS.Glennfs wrote: ↑Thu Nov 07, 2024 6:34 pm Ok.i misspoke. Nobody should be forced to pay money to an organization they refuse to join. Just as nobody should be forced to join a union as a condition of employment.
And
No union should ever represent or be forced to represent a non member.
Also I wonder just how hard the union fights for a non member. If they do at all.it would be just to prevent a precedent from being established.
Tell me, Glenn. Say you own a health club. Should anyone be able to come in and use the equipment for free?
But what if they say, you can come in and pay a day fee.
People in a union shop get benefits and pay higher than they would without a union. The union pays lots of money in bargaining and representing people. If a worker, member or not, files a grievance, the union pays all legal fees for the employee, which can run into the tens of thousands of dollars. If they don't want to pay it, there's a non-union shop paying less down the street. Go there.
And yes, they fight as hard for non-members, mostly because it's the right thing to do - but if they DON'T - the non-member can and often does sue the union, and can make tens of thousands of dollars from those suits. So, it sometimes comes out that they fight harder for the non-member, not dropping a case that has no chance of ever winning because the worker is wrong.
Re: Labor/Economics
Board Rules Captive-Audience Meetings Unlawful
Today, the Board issued a decision in Amazon.com Services LLC, ruling that an employer violates the National Labor Relations Act by requiring employees under threat of discipline or discharge to attend meetings in which the employer expresses its views on unionization. Overruling Babcock & Wilcox Co., 77 NLRB 577 (1948), the Board explained that such meetings—commonly known as captive-audience meetings—violate Section 8(a)(1) of the Act because they have a reasonable tendency to interfere with and coerce employees in the exercise of their Section 7 rights. However, the Board made clear that an employer may lawfully hold meetings with workers to express its views on unionization so long as workers are provided reasonable advance notice of: the subject of any such meeting, that attendance is voluntary with no adverse consequences for failure to attend, and that no attendance records of the meeting will be kept.
The Board articulated several reasons why captive audience meetings interfere with employees’ rights under the Act, thus violating Section 8(a)(1). First, such meetings interfere with an employee’s right under Section 7 of the Act to freely decide whether, when, and how to participate in a debate concerning union representation, or refrain from doing so. Second, captive audience meetings provide a mechanism for an employer to observe and surveil employees as it addresses the exercise of employees’ Section 7 rights. Finally, an employer’s ability to compel attendance at such meetings on pain of discipline or discharge lends a coercive character to the message regarding unionization that employees are forced to receive. The employer’s ability to require attendance at such meetings demonstrates the employer’s economic power over its employees and reasonably tends to inhibit them from acting freely in exercising their rights.
https://www.nlrb.gov/news-outreach/news ... s-unlawful
Today, the Board issued a decision in Amazon.com Services LLC, ruling that an employer violates the National Labor Relations Act by requiring employees under threat of discipline or discharge to attend meetings in which the employer expresses its views on unionization. Overruling Babcock & Wilcox Co., 77 NLRB 577 (1948), the Board explained that such meetings—commonly known as captive-audience meetings—violate Section 8(a)(1) of the Act because they have a reasonable tendency to interfere with and coerce employees in the exercise of their Section 7 rights. However, the Board made clear that an employer may lawfully hold meetings with workers to express its views on unionization so long as workers are provided reasonable advance notice of: the subject of any such meeting, that attendance is voluntary with no adverse consequences for failure to attend, and that no attendance records of the meeting will be kept.
The Board articulated several reasons why captive audience meetings interfere with employees’ rights under the Act, thus violating Section 8(a)(1). First, such meetings interfere with an employee’s right under Section 7 of the Act to freely decide whether, when, and how to participate in a debate concerning union representation, or refrain from doing so. Second, captive audience meetings provide a mechanism for an employer to observe and surveil employees as it addresses the exercise of employees’ Section 7 rights. Finally, an employer’s ability to compel attendance at such meetings on pain of discipline or discharge lends a coercive character to the message regarding unionization that employees are forced to receive. The employer’s ability to require attendance at such meetings demonstrates the employer’s economic power over its employees and reasonably tends to inhibit them from acting freely in exercising their rights.
https://www.nlrb.gov/news-outreach/news ... s-unlawful
Re: Labor/Economics
October retail sales top estimates, September spending revised sharply higher
October retail sales grew from the prior month, reflecting continued resilience in the American consumer.
Retail sales rose 0.4% in October. Economists had expected a 0.3% rise in spending, according to Bloomberg data. Meanwhile, retail sales in September were revised up to a 0.8% increase from a prior reading that showed a 0.4% increase in the month, according to Census Bureau data. Auto sales drove a majority of the gains in October's reading, with sales in the sector rising 1.6%.
https://finance.yahoo.com/news/october- ... 33716.html
October retail sales grew from the prior month, reflecting continued resilience in the American consumer.
Retail sales rose 0.4% in October. Economists had expected a 0.3% rise in spending, according to Bloomberg data. Meanwhile, retail sales in September were revised up to a 0.8% increase from a prior reading that showed a 0.4% increase in the month, according to Census Bureau data. Auto sales drove a majority of the gains in October's reading, with sales in the sector rising 1.6%.
https://finance.yahoo.com/news/october- ... 33716.html
Re: Labor/Economics
Consumer Confidence Hits 2-Year High As Recession Fears Fade: Stock Market Optimism Soars To Record High
American consumers are feeling better about the economy than they have in years, as the latest data Tuesday from The Conference Board shows.
The Consumer Confidence Index rose from 111.3 in October to 111.7 in November, reaching its highest level in nearly two years, aided by an improving labor market and easing concerns about a potential recession.
https://finance.yahoo.com/news/consumer ... 28716.html
American consumers are feeling better about the economy than they have in years, as the latest data Tuesday from The Conference Board shows.
The Consumer Confidence Index rose from 111.3 in October to 111.7 in November, reaching its highest level in nearly two years, aided by an improving labor market and easing concerns about a potential recession.
https://finance.yahoo.com/news/consumer ... 28716.html
Re: Labor/Economics
US labor board judge rules Exxon's Texas refinery union lockout was legal
HOUSTON (Reuters) - A U.S. National Labor Relations Board administrative law judge has ruled Exxon Mobil's 10-month-long lockout of some 600 union workers at a Texas oil refinery during a contract dispute was legal.
The judge sided with Exxon in his decision on Nov. 21, finding the 2021 and 2022 lockout was to pressure the United Steelworkers union workers toward a deal, not to oust the union from the 369,024 barrel-per-day (bpd) Beaumont, Texas, refinery complex.
https://finance.yahoo.com/news/us-labor ... 09841.html
HOUSTON (Reuters) - A U.S. National Labor Relations Board administrative law judge has ruled Exxon Mobil's 10-month-long lockout of some 600 union workers at a Texas oil refinery during a contract dispute was legal.
The judge sided with Exxon in his decision on Nov. 21, finding the 2021 and 2022 lockout was to pressure the United Steelworkers union workers toward a deal, not to oust the union from the 369,024 barrel-per-day (bpd) Beaumont, Texas, refinery complex.
https://finance.yahoo.com/news/us-labor ... 09841.html
Re: Labor/Economics
New stock exchange aiming to offer 23-hour trading set to launch in 2025
A new stock exchange launching next year is on track to offer nearly round-the-clock trading on business days, pending final regulatory approvals, 24 Exchange announced late Wednesday.
The 24X National Exchange will debut in the second half of 2025, with trading from 4:00 a.m. ET to 7:00 p.m. ET on weekdays, the Stamford, Connecticut-based platform said. That can be expanded to 8:00 p.m. ET on Sunday through 7:00 p.m. ET on Friday, with a one-hour pause each day, once the exchange clears some final hurdles with the U.S. Securities and Exchange Commission.
https://www.cnbc.com/2024/11/29/new-sto ... -2025.html
A new stock exchange launching next year is on track to offer nearly round-the-clock trading on business days, pending final regulatory approvals, 24 Exchange announced late Wednesday.
The 24X National Exchange will debut in the second half of 2025, with trading from 4:00 a.m. ET to 7:00 p.m. ET on weekdays, the Stamford, Connecticut-based platform said. That can be expanded to 8:00 p.m. ET on Sunday through 7:00 p.m. ET on Friday, with a one-hour pause each day, once the exchange clears some final hurdles with the U.S. Securities and Exchange Commission.
https://www.cnbc.com/2024/11/29/new-sto ... -2025.html
Re: Labor/Economics
Get ready for a rude awakening Labor.
Trump Labor pick surprises unions, rattles business
President-elect Trump’s pick for Labor secretary has organized labor cheering and business groups sounding worried as the atypically labor-friendly choice could signal a new and more receptive stance toward unions from Republicans, who have long resisted labor’s agenda.
Following a recent increase in popularity among unions and the precedent-breaking appearance of Teamsters President Sean O’Brien at the Republican National Convention in July, the choice of Rep. Lori Chavez-DeRemer (R-Ore.) reflects the growing political importance of labor after an election in which working-class voters delivered a strong turnout for Trump and the GOP.
https://thehill.com/business/5012478-tr ... z-deremer/
Trump Labor pick surprises unions, rattles business
President-elect Trump’s pick for Labor secretary has organized labor cheering and business groups sounding worried as the atypically labor-friendly choice could signal a new and more receptive stance toward unions from Republicans, who have long resisted labor’s agenda.
Following a recent increase in popularity among unions and the precedent-breaking appearance of Teamsters President Sean O’Brien at the Republican National Convention in July, the choice of Rep. Lori Chavez-DeRemer (R-Ore.) reflects the growing political importance of labor after an election in which working-class voters delivered a strong turnout for Trump and the GOP.
https://thehill.com/business/5012478-tr ... z-deremer/
Re: Labor/Economics
Unions score major win in Wisconsin with court ruling restoring collective bargaining rights
MADISON, Wis. — Wisconsin public worker and teachers unions scored a major legal victory Monday with a ruling that restores collective bargaining rights they lost under a 2011 state law that sparked weeks of protests and made the state the center of the national battle over union rights.
That law, known as Act 10, effectively ended the ability of most public employees to bargain for wage increases and other issues, and forced them to pay more for health insurance and retirement benefits.
https://www.politico.com/news/2024/12/0 ... s-00192229
MADISON, Wis. — Wisconsin public worker and teachers unions scored a major legal victory Monday with a ruling that restores collective bargaining rights they lost under a 2011 state law that sparked weeks of protests and made the state the center of the national battle over union rights.
That law, known as Act 10, effectively ended the ability of most public employees to bargain for wage increases and other issues, and forced them to pay more for health insurance and retirement benefits.
https://www.politico.com/news/2024/12/0 ... s-00192229
Re: Labor/Economics
Payrolls increased 227,000 in November, more than expected; unemployment rate at 4.2%
Job creation in November rebounded from a near-standstill the prior month as the effects of a significant labor strike and violent storms in the Southeast receded, the Bureau of Labor Statistics reported Friday.
Nonfarm payrolls increased by 227,000 for the month, compared to an upwardly revised 36,000 in October and the Dow Jones consensus estimate for 214,000. September’s payroll count also was revised upward, to 255,000, up 32,000 from the prior estimate. October’s number was held back by impacts from Hurricane Milton and the Boeing strike.
https://www.cnbc.com/2024/12/06/jobs-re ... -2024.html
Job creation in November rebounded from a near-standstill the prior month as the effects of a significant labor strike and violent storms in the Southeast receded, the Bureau of Labor Statistics reported Friday.
Nonfarm payrolls increased by 227,000 for the month, compared to an upwardly revised 36,000 in October and the Dow Jones consensus estimate for 214,000. September’s payroll count also was revised upward, to 255,000, up 32,000 from the prior estimate. October’s number was held back by impacts from Hurricane Milton and the Boeing strike.
https://www.cnbc.com/2024/12/06/jobs-re ... -2024.html