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The Latest Breaking News from the Labor Department

Dow Jones Rallies 175 Points After Key Inflation Data; Palantir Dives On Downgrade

The Dow Jones Industrial Average rose 175 points Thursday after key inflation data. Palantir Technologies dived on an analyst downgrade.

Investors Business Daily

Millions of additional salaried workers could get overtime pay under Biden proposal

A proposal from the Labor Department would make an estimated 3.6 million salaried workers newly eligible for overtime pay. It covers workers earning less than $55,000 per year.

WEKU

Millions more workers would be entitled to overtime pay under proposed new rule

The Biden administration is proposing a new rule that would make 3.6 million more U.S. workers eligible for overtime pay, reviving an Obama-era policy effort that was ultimately scuttled in court

The Independent UK

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Stock Market Holds On To Gains; Auto Retailer Stock Adds To 900% Rally

China e-commerce stock tops a buy zone after analysts' price hikes.

Investors Business Daily

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.

Roll Call

Millions more workers would be entitled to overtime pay under a proposed Biden administration rule

The Biden administration is proposing a new rule that would make 3.6 million more U.S. workers eligible for overtime pay, reviving an Obama-era policy effort that was ultimately scuttled in court

The Independent UK

Stocks edge higher, following best rally since June, on softer jobs, GDP data

Stock futures slipped modestly lower Wednesday ahead of another round of jobs data as markets continue to track sharp moves in the bond market that could suggest economic weakness over the coming months.

The Street

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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.

Chicago Sun-Times

Dollar Tree and Family Dollar agree to take steps to improve worker safety at the bargain stores

U.S. regulators have announced a settlement with the company that runs Dollar Tree and Family Dollar aimed at improving worker safety at thousands of the bargain stores across the country

The Independent UK

Labor Dept. Cuts Job Gains By 306,000; S&P 500 Rallies Ahead Of Fed Chair Powell's Big Speech

A cut to reported job gains and a signs of economic slowing helped lift the S&P 500 ahead of Federal Reserve Chair Jerome Powell's big Friday speech.

Investors Business Daily

Biden's New 'Prevailing Wage' Rule Will Cost Taxpayers, Benefit Unions, and Hike Inflation

The Labor Department is officially undoing changes made to help combat inflation in the 1980s.

Reason

Wholesale inflation in US edged up in July from low levels

Wholesale price increases in the United States picked up slightly in July yet still suggested that inflationary pressures have eased this year since reaching alarming heights in 2022

The Independent UK

CPI Inflation Rate Trends Tame, Signaling Patient Fed, But S&P 500 Erases Gains

The annual CPI inflation rate rose slightly to 3.2%, less than expected, signaling the Federal Reserve will stand pat. The S&P 500 rose, but slashed gains.

Investors Business Daily

Harris will announce a new rule that raises worker pay on federal construction projects

Vice President Kamala Harris is announcing changes to labor rules that could give higher wages to construction workers on federal projects

The Independent UK

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Chicago Sun-Times

Hiring below expectations in July but jobless rate dips to 3.5%

U.S. employers added 187,000 jobs last month. Economists had expected to see 200,000 new jobs in July.

WEKU

A 16-year-old died while working at a poultry plant in Mississippi

The teenager died after he became entangled in a machine he was cleaning late last Friday. Labor laws prohibit anyone under 18 from working in meat plants because of the hazardous conditions.

Tribune News Service

Editorial: Bidenomics is just tired liberalism on steroids

The White House wallowed in a bit of good news last week when the Labor Department revealed that inflation in June had cooled to its lowest pace — 3% — in more than two years. Still, Fed officials have signaled that another rate hike is coming because they don’t want…

Al Jazeera

US cracks down on child labour violations amid loosening laws

A child died in a sawmill accident this month, as some Republican-led states move to relax child labour restrictions.

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Investors Business Daily

Jobs Report: Friday's Stakes Rise As 10-Year Treasury Yield Bolts Above 4%, S&P 500 Falls

Markets didn't wait for Friday's jobs report to get nervous. A July Fed rate hike now looks like a lock, and odds are rising for another this year.

Axios

The job market's pain-free rebalancing

The labor market is entering a sweet spot, with the tightness of 2021 and 2022 dissipating and workers seeing abundant opportunities.

The Independent UK

U.S. job openings dip to 9.8 million but remain high, showing resilience in labor market

U.S. job openings slipped in May but remained at levels high enough to show the American labor market remains resilient in the face of sharply higher interest rates

The Independent UK

Mississippi farms pay overdue wages for favoring immigrants over local Black workers, agency says

The U.S. Labor Department says 44 farms in Mississippi exploited local Black workers by paying higher wages to immigrants on temporary work visas

WEKU

The U.S. added 339,000 jobs in May. It's a stunningly strong number

Employers added a whopping 339,000 jobs in May, far above expectations, according to a report from the Labor Department on Friday. The unemployment rate rose to 3.7%, from 3.4% in April.

The Street

Stocks Higher On Debt Deal, May Jobs Report In Focus, Broadcom Slides, Lululemon Soars, Fed Lending Slips - 5 Things To Know

Stock futures higher as Senate confirms debt ceiling deal; May jobs report in focus as labor market strength impresses; Broadcom slides after earnings beat, AI-powered sales outlook; Lululemon surges after blasting earnings forecasts on high-end demand and U.S. banks continue to trim emergency borrowing from Fed.

The Street

Stocks Nudge Higher, More Jobs Data, Salesforce Slides, Nordstrom Surges, Broadcom On Deck - 5 Things To Know

Stock futures nudge higher on debt ceiling deal relief; ADP jobs data in focus as markets look to Friday payrolls; Salesforce slides after sluggish revenue growth, muted near-term outlook; Nordstrom surges after surprise Q1 profit, margin improvement and Broadcom earnings on deck as chipmaker rides AI demand wave.

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