labor-and-economy5.005 min read
"China's Aging Builders Face Retirement Challenges After Years of City Construction"
2 years ago•Source: NPR
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6.465 min•2 years ago
"New Labor Rule to Impact Gig Worker Classification and Benefits"
The Biden administration's new labor rule reclassifies many independent contractors as company employees, entitling them to benefits like overtime pay and a minimum wage, which experts say will increase costs for employers and restrict workers' freedom to choose when and where they work. Proponents believe the change will curtail abuse from companies, but critics argue it will hamper the flexibility of freelancing positions and could push many current employees out of work entirely, potentially impacting the gig economy and leading to job losses.
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UAW Autoworkers Demand Return of COLA Clause Amidst Growth Concerns
USA TODAY•2 years ago
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"Nigerian Workers Continue Strikes to Protest Soaring Costs and Subsidy Removal"
Nigerian government workers, represented by the Nigeria Labour Congress, have initiated a two-day strike to protest against the soaring costs of living exacerbated by the removal of petrol subsidies. The strike, the second in over a month, aims to demand improved welfare and an increase in wages. The workers have threatened to shut down the country's largest economy if their demands are not met. The removal of petrol subsidies has led to a significant increase in petrol prices, impacting small businesses and households reliant on petrol generators. The government has taken steps to alleviate the hardship, but workers argue that these measures are insufficient.
"Treasury Department Report Highlights Economic Benefits of Unions in the U.S."
The Treasury Department has released a comprehensive report on the benefits of labor unions to the U.S. economy. The report highlights that unions play a crucial role in addressing challenges faced by the middle class, such as stagnant wages and high housing costs. It finds that unions raise wages by 10 to 15 percent, improve fringe benefits and workplace procedures, and contribute to financial stability and worker well-being. Unionization also has spillover effects, benefiting nonunionized workers and reducing race and gender wage gaps. Additionally, unions contribute to economic growth and resilience by reducing overall inequality and improving working environments. The Biden-Harris Administration is taking steps to strengthen unions, including prioritizing the passage of pro-union legislation and appointing officials committed to protecting workers' rights.
Minnesota Adjusts Minimum Wage Rates for Inflation in 2024
Minnesota's minimum-wage rates will be adjusted for inflation starting January 1, 2024. Large employers will be required to pay a minimum of $10.85 an hour, while small employers will have a minimum wage of $8.85 an hour. These increases of 2.5% aim to provide low-wage workers with more earning power. The new rates do not apply to Minneapolis and St. Paul, which have higher minimum-wage rates. Employers must provide written notice of any changes to employees' pay rates.
"UPS Union Deal: A Middle Class Savior in the Making?"
UPS drivers have secured a new contract that boosts their salaries from $145,000 to $170,000 per year, including benefits. This represents a symbolic triumph for unions, the middle class, and the labor-friendly White House, as it demonstrates collective efforts to improve middle-class wages. The public has taken notice, with a 50% surge in searches for "UPS" or "United Parcel Service" on job sites. This development aligns with President Biden's focus on building the economy from the middle out and the bottom up, in contrast to trickle-down economics. The success of the UPS contract highlights the impact of strong union backing and the potential for unions to secure better benefits for workers.