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The Latest Breaking News from Labor Department

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

The Independent UK

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.

Tribune News Service

GOP attorneys general sue Labor Department over ESG rule - Roll Call

Republican state attorneys general are trying to block a Labor Department rule easing the path for investors to consider ESG criteria.

Roll Call

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U.S. job openings rise in December to 11 million

U.S. job openings rose to 11 million in December, a sign the American labor market remains hot and a blow to the Federal Reserve’s efforts to cool it off

The Independent UK

Republican-led panel targets COVID relief dollars for review

More than 1,000 people have pleaded guilty or have been convicted of federal charges of defrauding the myriad COVID-19 relief programs that Congress established in the early days of the pandemic

The Independent UK

States sue Biden administration over ESG in retirement plans

As the new Republican House majority prepares to push back against ESG investing, some House Democrats have launched their own ESG-related caucus to counter Republicans’ efforts:

Ballotpedia

US inflation cools again, putting Fed on track to downshift

U.S. inflation continued to slow in December, adding to evidence price pressures have peaked and putting the Federal Reserve on track to again slow the pace of interest-rate hikes.

Tribune News Service

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US Adds 223K Jobs In December As Labor Market Pressures Fed To Keep Hiking Interest Rates

The SPDR S&P 500 ETF Trust traded higher Friday morning after the Labor Department reported low unemployment numbers above 3%.

Zenger

US hiring solid while wages cool, giving Fed room to slow hikes

The US labor market stayed strong last month and wage gains cooled, reducing risks of a near-term recession and giving the Federal Reserve room to slow interest-rate hikes.

Tribune News Service

US hiring solid while wages cool, giving Fed room to slow hikes

The U.S. labor market stayed strong last month and wage gains cooled, boosting hopes the economy will dodge a recession and giving the Federal Reserve room to slow interest-rate hikes.

Tribune News Service

Asian shares mostly rise in muted trading on bargain-hunting

Asian shares are mostly higher after Wall Street benchmarks fell on worries that the U.S. Federal Reserve will keep raising interest rates

The Independent UK

Restaurant Staffers Are Returning to Work After Covid Flight

Restaurants are finally staffing up.

Bangkok Post

A Chick-fil-A that paid workers with sandwiches instead of actual money was just fined by the Department of Labor

“Payment must be made in cash or legal tender,” noted the Labor Department after penalizing the offending Chick-fil-A.

Fortune

Child workers found throughout Hyundai-Kia supply chain in Alabama

A Reuters investigation finds children worked for at least four Alabama parts suppliers to Hyundai and Kia in recent years, with staffing agencies placing migrant minors in plants where regulations ban kids from working.

ABC News

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Tribune News Service

US core inflation slows, giving Fed some breathing room on rates

WASHINGTON — A key gauge of U.S. consumer prices posted the smallest monthly advance in more than a year, indicating the worst of inflation has likely passed and validating an anticipated slowing in the pace of Federal Reserve interest-rate hikes.

Bangkok Post

Fed to Weigh Higher Rates in 2023 While Slowing Rises This Month

Federal Reserve officials have signaled plans to raise their benchmark interest rate by 0.5 percentage point at their meeting next week, but elevated wage pressures could lead them to continue lifting it to higher levels than investors currently expect.

WEKU

The U.S. gained 263,000 jobs last month. It's good news for workers, but not the Fed

Hiring slowed slightly in November amid rising interest rates. But the U.S. job market remains unusually tight. Employers added 263,000 jobs in November while unemployment held steady at 3.7%.

Tribune News Service

Labor Department finds compromise in ESG investment rule

The Labor Department’s rule to expand environmental, social and governance options for retirement plans is being called a healthy compromise between financial services firms that want clear rules and plan sponsors that feared strict mandates to consider such factors.

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The Independent UK

Applications for jobless benefits declined last week

The number of Americans applying for unemployment benefits came back down last week and continue to hover around levels suggesting the U.S. labor market has been largely unaffected by the Federal Reserve’s aggressive interest rate hikes

Roll Call

Labor Department finds compromise in ESG investment rule - Roll Call

The Labor Department's ESG rule strikes a compromise between allowing such investment criteria and mandating them.

Tribune News Service

'Secret, not a secret': Southwestern Minnesota meatpacking towns react to child labor allegations

WORTHINGTON, Minnesota — In a basement office, across the street from the Casey's convenience store and just a block from the high school football field, a sign on the window for PSSI, a meatpacking janitorial service, announces nearly $20 an hour pay.

Los Angeles Times

Michael Hiltzik: Thinking of putting crypto in your 401(k)? Think twice

The federal government has some advice for workers contemplating adding bitcoin or another cryptocurrency to their retirement holdings: Don't.

The Independent UK

Unemployment claims rise to 240,000, highest since August

The number of Americans applying for unemployment benefits rose the highest level since August but still remained low by historic standards

Tribune News Service

US inflation slows more than forecast, gives Fed downshift room

U.S. inflation cooled in October by more than forecast, offering hope that the fastest price increases in decades are ebbing and giving Federal Reserve officials room to slow down their steep interest-rate hikes.

Benzinga

October Inflation Cools To 7.7%, Stocks Sprint Higher: What You Need To Know

The SPDR S&P 500 (NYSE: SPY) is moving higher Thursday morning after the Labor Department reported a 7.7% year-over-year increase in the consumer price index for October.

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