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The Latest Breaking News from the Labor Department

3 Unusually Active Reasonably-Priced Call Options to Buy Now

The November jobs report came out Friday morning. The Labor Department reported that 199,000 jobs were added last month, resulting in a 20-basis-point drop in the unemployment rate to 3.7%. The news should help Friday trading.

Barchart

US job openings fall to lowest level since March 2021 as labor market cools

U.S. employers posted 8.7 million job openings in October, the fewest since March 2021, in a sign that hiring is cooling in the face of higher interest rates yet remains at a still-healthy pace

The Independent UK

Jobless Claims Rise Less Than Expected

Despite the indication of a slowdown, the numbers are more volatile because of the Thanksgiving holiday.

International Business Times

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‘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

US producer prices slide 0.5% in October, biggest drop since 2020.

U.S. wholesale prices fell sharply last month as inflationary pressure continued to ease in the face of a year and a half of higher interest rates

The Independent UK

Biden's New Retirement Adviser Proposal Targets 'Junk Fees'

Retirement advisers would need to ensure that they prioritize investor interests under the new rule.

Kiplinger

Wholesale inflation in US rises 2.2% in September, biggest year-over-year gain since April

U.S. wholesale prices rose last month at the fastest pace since April, suggesting that inflationary pressures remain despite a year and a half of higher interest rates

The Independent UK

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Perdue Farms and Tyson Foods under federal inquiry over reports of illegal child labor

The Labor Department launched investigations into the two major poultry producers after reports that migrant children as young as 13 have been working overnight shifts to clean the companies' plants.

WEKU

US jobs report for August could point to a moderating pace of hiring as economy gradually slows

Slowly and steadily, an overheated American job market is returning to room temperature

The Independent UK

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

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

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

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The Independent UK

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

Reason

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.

The Independent UK

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

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

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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.

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

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