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The Latest Breaking News from Labor Department

US Insurance Industry Fights Regulation To Scrap Agent Commissions, Boosting Retirement Savings By $3B Annually

A dozen insurance industry groups have secured national stay orders from two Federal courts on a new retirement protection regulation that compels agents to sell products in their client's best interests during 401(k)-IRA rollovers.

International Business Times UK

US Jobs Data Point To Weaker Than Expected Market

The US jobs market was probably cooler than expected in the year through March, Labor Department data showed Wednesday, signaling weaker but still-positive growth.

International Business Times

US Extends Hiring Cooldown While Unemployment Highest Since 2021

The US jobs market cooled much more than expected in July with the unemployment rate reaching its highest since late 2021, government data showed Friday, paving the way towards post-pandemic interest rate cuts.

International Business Times

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US added just 114,000 jobs in July, unemployment rate hits 4.3% as interest rates take economic toll

U.S. hiring decelerated sharply last month in the face of high interest rates as employers added a weak 114,000 jobs

The Independent UK

Stocks Tick Higher After U.S. PPI Data and Big Bank Earnings

September S&P 500 E-Mini futures (ESU24) are trending up +0.12% this morning, stabilizing after yesterday’s tech-led selloff, with investors looking ahead to crucial U.S. producer inflation data and earnings reports from some of the biggest U.S. banks.

Barchart

New Labor Department Rule Strengthens Protections For Farmworkers

New Labor Department rule enhances legal protections for temporary farmworkers under H-2A program, addressing abuse, unsafe conditions, and illegal recruit...

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New Biden administration rule to make millions more salaried workers eligible for overtime pay

The Labor Department announced a new rule that will extend overtime pay to salaried workers who earn less than $43,888 annually. It will go into effect July 1

Latin Times

US Consumer Inflation Cools Less Than Expected In January

US consumer inflation slowed less than anticipated last month, according to government data released Tuesday, as President Joe Biden battles to assuage households' worries over costs of living while he seeks reelection.

International Business Times

Labor Department's New Regs Aim To Rescue Gig Workers From Their Own Preferences

Biden undid Trump-era rules for independent contractors, but the new rule will likely last only until another Republican is elected president. This is no way to regulate an economy.

Reason

New US Labor Rule May Help Gig Workers Qualify As Employees

A rule issued Tuesday by the US Labor Department making it tougher for companies to classify workers as "independent contractors" could take a toll on the gig economy -- and is likely to face challenges.

International Business Times

‘It should never have happened’: death of boy, 16, at sawmill highlights rise of child labour in US

Michael Schuls died after getting trapped in dangerous machinery at a mill in Wisconsin. But across the US conservative groups are pushing to loosen laws that protect children in the workplace

The Guardian - UK

Federal court rules in favor of Biden ESG retirement rule

Judge Matthew J. Kacsmaryk of the United States District Court for the Northern District of Texas issued a ruling on Sept. 21 refusing to block the Biden Labor Department’s investment rule allowing ESG considerations in retirement plans governed by the Employee Retirement Income Security Act of 1974 (ERISA). Texas and…

Ballotpedia

Top US poultry producers face federal investigation over claims of child migrants cleaning slaughterhouses

‘We are long past the day when brands can say that they don’t know that they have child labor in their supply chain,’ the chief legal officer for the Labor Department said

The Independent UK

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Ballotpedia

Federal court rules in favor of Biden ESG retirement rule

Economy and Society is Ballotpedia’s weekly review of the developments in corporate activism; corporate political engagement; and the environmental, social, and corporate governance (ESG) trends and events that characterize the growing intersection between business and politics.

Roll Call

Labor Department to give overtime protection to salaried workers - Roll Call

The Labor Department is proposing to make it more costly for employers to avoid paying overtime by making workers salaried employees.

Chicago Sun-Times

Dollar Tree and Family Dollar agree to pay fine and improve worker safety

Labor Department officials cited issues at the stores including blocked exits, unsafe storage of materials and improper access to fire extinguishers and electrical panels.

Tribune News Service

US applications for jobless benefits fall to 2-month low

U.S. applications for unemployment benefits fell last week to the lowest level in two months, suggesting resilient demand for workers amid a moderation in job gains.

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Zenger

Cryptocurrencies Trade In Red As U.S. Jobs Data Surprises Market

ADP private employment report shows significant job gains, impacting crypto prices.

Ballotpedia

House Republican introduces bill opposing ESG in retirement funds

Congressman Andy Barr (R-Ky.) introduced a bill on June 21 opposing the Biden Labor Department’s rule allowing the use of ESG in retirement plan investments. Both chambers recently passed a Congressional Review Act (CRA) resolution overturning the Labor Department rule, but President Joe Biden (D) vetoed that legislation. Congressman Barr…

Ballotpedia

House Republican introduces bill opposing ESG in retirement funds

Economy and Society is Ballotpedia’s weekly review of the developments in corporate activism; corporate political engagement; and the Environmental, Social, and Corporate Governance (ESG) trends and events that characterize the growing intersection between business and politics.

The Independent UK

10-year-old children found working at three McDonalds in Kentucky

Federal officials say two 10-year-olds are among the 300 children who worked at a McDonald’s restaurants in Kentucky with no or little pay

Fortune

Two 10-year-old kids found working at a Louisville McDonald’s until 2 a.m.—for no pay

The Labor Department found more than 300 minors working illegally at McDonald’s restaurants operated by three franchisees.

The Independent UK

McDonald’s franchises fined for child labor violations

Federal officials say two 10-year-olds are among the 300 children who worked at a McDonald’s restaurants in Kentucky with no or little pay

The Independent UK

Firm that hired kids to clean meat plants keeps losing work

The slaughterhouse cleaning company that was found to be employing more than 100 children to help sanitize dangerous razor-sharp cutting equipment has continued to lose contracts with the major meat producers since the investigation became public last fall

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