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The Latest Breaking News from the Labor Department

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

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

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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

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

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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

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.

Chicago Sun-Times

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.

WEKU

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…

Tribune News Service

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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.

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

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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.

Investors Business Daily

Dow Jones Futures Rise: House OKs Debt-Limit Bill; Salesforce, AI Stock Lead Earnings Movers

The House OK'd the debt-limit bill. Salesforce and C3.ai stock led earnings movers late. China EV makers reported May sales.

Investors Business Daily

Friday's Jobs Report May Be A Game-Changer For The Fed, S&P 500. Here Are Four Reasons Why.

Here are four reasons why we may be in for an unexpectedly soft jobs report on Friday.

Bangkok Post

US inflation down only marginally

WASHINGTON: Consumer inflation in the United States nudged down only slightly in April, the Labor Department said on Wednesday, despite strong efforts to cool the economy and rein in price increases.

WEKU

Inflation stayed high last month, compounding the challenges facing the U.S. economy

Consumer prices in April were 4.9% higher than a year ago, according to the Labor Department. Prices rose 0.4% between March and April.

Capital & Main

Why Business Lobbyists Want to Stop Labor Secretary Nominee Julie Su

David Weil, whose 2022 Senate confirmation to a Labor Department post was blocked, says fast food companies, ride-sharing services and nonunion builders fear vigorous enforcement of labor laws.

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