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The Latest Breaking News from Labor Department

How do you plan for retirement in the face of greater climate risks?

Some say embracing ESG is the answer. Others say ESG is the problem.

Fortune

Senate clears resolution to nullify rule forcing climate considerations in investing; Biden plans veto

WASHINGTON — The Senate on Wednesday cleared a resolution that would disapprove of a Labor Department rule allowing retirement plans to consider climate factors in their investment decisions, setting the stage for the first veto of President Joe Biden’s presidency.

Tribune News Service

Senate clears resolution to nullify 'ESG' rule; Biden plans veto - Roll Call

President Biden is likely to veto his first piece of legislation, a resolution that would nullify a Labor Department investment rule.

Roll Call

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Biden taps Julie Su to lead Labor Department

WASHINGTON — President Joe Biden said Tuesday that he would nominate Julie Su, the deputy secretary of labor and the preferred choice of the Congressional Black Caucus, to become secretary of the Department of Labor.

Tribune News Service

Biden to nominate Julie Su to head Labor Department

Su, a longtime workers' rights advocate, would be the administration's first Asian American cabinet-level secretary.

Axios

House to vote this week on Department of Labor’s ERISA/ESG rule

Fox News reported on February 24 that the U.S. House will vote this week on a measure opposing the Labor Department’s rule allowing ESG consideration in ERISA-governed retirement funds:

Ballotpedia

Biden taps Su to lead Labor Department - Roll Call

President Joe Biden said Tuesday that he would nominate Julie Su, the deputy secretary of Labor, to become Labor secretary.

Roll Call

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Millions of US workers are still missing after the pandemic. Where did they go?

Millions of workers are still missing from the U.S. labor force three years after COVID-19 surfaced, and economists are scratching their heads as to how big the gap actually is and where all these people went.

Tribune News Service

Economy and Society, February 21, 2023: Will Congress block Biden’s ESG retirement plan 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.

Ballotpedia

Meat plant cleaning service fined $1.5M for hiring minors

The Department of Labor says one of the country’s largest cleaning services for food processing companies employed more than 100 children in dangerous jobs at 13 meatpacking plants across the country

The Independent UK

Labor Secretary Marty Walsh leaves Biden administration to lead NHL players' union

Marty Walsh, who's led the Labor Department since March 2021, is leaving the Biden administration. Walsh has been named executive director of the NHL Players' Association.

WEKU

Walsh confirms mid-March departure from Labor Department - Roll Call

Labor Secretary Marty Walsh touted the department's achievements during his tenure as he told staff he would leave in mid-March.

Roll Call

US inflation showed signs of slowing down in January

In the 12 months through January, the CPI increased 6.4%

The Independent UK

Wait, layoffs and job growth? What's going on with the economy and is recession still coming?

WASHINGTON — Only a few months ago many economists warned that a recession was not just inevitable, it was around the corner. Inflation would take years to curb. Surging unemployment was on its way.

Los Angeles Times

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Tribune News Service

Walsh to leave Labor Department for NHL players' union

WASHINGTON — Labor Secretary Marty Walsh will leave the department for the top post at the union representing players in the National Hockey League, the first Cabinet-level departure during the Biden administration.

Roll Call

Walsh to leave Labor Department for NHL players' union - Roll Call

Labor Secretary Marty Walsh is expected to leave the department to become executive director of the NHL players union.

Ballotpedia

States sue Biden administration over ESG in retirement plans

Twenty-five states announced on January 26 that they had filed a lawsuit against the Biden administration alleging that, in their view, the Department of Labor’s new rule allowing for the consideration of ESG factors in Employee Retirement Income Security Act (ERISA)-governed retirement investments increased portfolio risk and violated the law:

Tribune News Service

US payrolls surprise with surge as jobless rate hits 53-year low

The U.S. labor market burned red-hot in January as hiring unexpectedly surged and unemployment fell to a 53-year low, defying recession forecasts and adding pressure on the Federal Reserve to keep raising interest rates.

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Chicago Sun-Times

US adds a surprisingly strong 517,000 jobs despite Fed hikes

January’s gains were broad-based across industries. A category that includes restaurants and bars added 99,000 jobs. Professional and business services jobs, including bookkeepers and consultants, rose by 82,000.

Bangkok Post

Surge in US hiring surprises markets

WASHINGTON: US job gains surged unexpectedly last month as unemployment slipped to its lowest rate in more than five decades, government data showed on Friday, despite efforts to cool economic activity.

WEKU

U.S. employers added 517,000 jobs last month. It's a surprisingly strong number

U.S. employers added 517,000 jobs in January, as the unemployment rate fell to 3.4% . The job market remains tight, despite signs of a slowing economy.

Investors Business Daily

Dow Jones Slides On Strong January Jobs Report; Apple Reverses Higher; Alphabet, Amazon Drop On Earnings

The Dow Jones dropped 175 points Friday on a strong January jobs report. Apple stock reversed higher on earnings results.

The Independent UK

January may have delivered lower, if still solid, job growth

The American economy has an unusual problem: The job market looks too strong — at least to the inflation fighters at the Federal Reserve

Tribune News Service

GOP attorneys general sue Labor Department over ESG rule

A group of 25 Republican attorneys general sued Labor Secretary Marty Walsh and the Labor Department over a Biden administration regulation that gives retirement plan sponsors more freedom to consider environmental, social and governance factors when selecting investments.

Investors Business Daily

Jobs Report Is First Big Test After Federal Reserve Lets Loose The S&P 500

Will Friday's January jobs report validate the latest leg of the S&P 500 rally sparked by Fed Chair Jerome Powell's Wednesday comments?

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