Keyword: dol
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Apple is set to host specialized entrepreneur training camps that bars applicants based on their race and sex. To participate, organizations must have “black, Hispanic/Latinx, or Indigenous” members in both leadership and on staff. The program will include two cohorts in October and November, the “underrepresented founders” and “female founders” groups. The camps, which offer valuable resources such as “one-on-one code-level guidance from Apple engineers,” list eligibility requirements that exclude would-be participants on the basis of their race and sex. In order to participate in the underrepresented founders program, an organization must have “a black, Hispanic/Latinx, or Indigenous founder, cofounder,...
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Sen. Joe Manchin (D-WV) will oppose Deputy Labor Secretary Julie Su's nomination to the top job, he announced Thursday afternoon, striking a major blow to her confirmation chances. President Joe Biden nominated Su in February to replace former Labor Secretary Marty Walsh, who left his post to lead the National Hockey League Players Association. Her nomination was met with heavy criticism from Senate Republicans and centrist Democrats alike, largely based on her time leading California's Labor and Workforce Development Agency during the pandemic. On Su's watch, the state fulfilled between $20 billion and $32 billion in fraudulent unemployment claims, and...
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Pretty much everyone has figured out that the Department of Justice, the CIA and the FBI are run by partisan hacks who cannot be trusted. But what about the colorless, worker bee federal agencies that just turn out data? Like, say, the Bureau of Labor Statistics? Have they been corrupted by the Democrats, too? ZeroHedge has been covering the Biden Department of Labor’s press releases on payroll jobs. For an amazing 13 months in a row, the Biden Department of Labor has found that payrolls exceeded expectations! And, of course, beating expectations is important to the stock market and the...
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Chevron Corp. turned out to be one of the top performing assets David Root included this year in the workplace retirement portfolios his firm manages for companies that offer employee 401k plans. And he makes no apologies for the investment. “If you didn’t have energy as part of your portfolio this year — which averaged 35% to 40% returns — you had no chance of outperforming the S&P 500,” said Mr. Root, CEO of DBR & Co., Downtown. Some fund managers guided by their environmental, social and governance values rather than pure financial considerations might have ruled out an investment...
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Republican candidates can win in November if they prioritize important issues. Chief among them are supporting the freelance economy and opposing the Protecting the Right to Organize (PRO) Act. The GOP can appeal to disaffected independents and Democrats who feel voiceless without moderating their conservative beliefs. Here in Virginia, freelancers and their allies, alike, are making their voices heard by opposing bad bills. If Republicans want to win, they should join the fight for freelancers now. The Current Status of Freelancing in AmericaFreelancing is pro-family, pro-freedom, pro-free market— the very essence of conservatism. Men and women who freelance better prioritize...
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Asset managers like BlackRock are pushing to create ESG 401(k) funds in part because they can charge higher fees. According to Morningstar, the asset-weighted average expense ratio of U.S. "sustainable" funds was 0.61% in 2020 compared to 0.41% for all open-ended mutual and exchange-traded funds and 0.12% for passive funds. This difference can reduce retirement savings by tens of thousands of dollars over a few decades. (snip) All of this amounts to a backdoor rewrite of Erisa, one of the better laws of the last 50 years. Progressives are moving across the Biden administration to steer private capital to implement...
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resident Joe Biden keeps boasting that all the new jobs his programs will supposedly create will be "good-paying union jobs." But, Joe, what about the 93% of private sector workers who are not members of unions? Does he care about them? The Labor Department reports that in America today, 6.3% of all private sector workers are union members. So more than 10 of 11 private workers aren't. The only area where unions are growing in America is in government. Nearly half of government workers, led by teachers, are unionized. And they are radicalized. Meanwhile, nearly every policy coming out of...
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For pension beneficiaries across the country, the recent proposals by the Department of Labor are a positive step towards ensuring that accountability and fiscal responsibility take precedence over any other considerations. Two new rules are currently being weighed. The first, for which the department is currently in the process of sorting through public comment, concerns the role of environmental, social, and governance (ESG) investments in ERISA-backed pension funds. The second takes aim at “proxy voting,” examining the outsized roles that proxy advisory firms have in investment decisions and examining whether their recommendations are always economically beneficial to pensioners.These rules rightly reaffirm a...
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Admin says cuts target 'activities that are duplicative, unnecessary, unproven, or ineffective' Donald Trump's budget calls for a 21 percent cut to the Department of Labor in order to free up tax dollars for military spending. {..snip..}
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US wholesale inflation continued its upward trend in January, recording its largest monthly gain in more than four years, according to data released Tuesday by the Labor Department. The Producer Price Index, which measures prices from the seller's perspective, rose 0.6 percent in seasonally adjusted figures, which was the largest such gain since September 2012 and well above an analyst consensus forecast of 0.3 percent.
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(CNN)Senate Minority Leader Chuck Schumer called on President Donald Trump to withdraw the nomination of Andrew Puzder, to head the Labor Department, citing his record as a business executive and his position on labor issues. "They ought to withdraw Mr. Puzder before he further embarrasses this administration and further exposes the hypocrisy of President Trump, who says one thing to the American worker and does another," the New York Democrat said Thursday at a news conference, referencing Puzder, the CEO of CKE Restaurants, which runs Hardee's and Carl's Jr. Schumer said Puzder's record contradicts campaign promises Trump made to the...
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Union membership in Wisconsin has declined nearly 40 percent since legislation was passed that gutted collective bargaining for public workers, according to federal data. The percentage of public and private workers who were union members was about 8 percent, or 219,000 people, in 2016, down by 136,000 members from 2010 levels, according to the U.S. Department of Labor. The agency’s report shows the percentage of Wisconsin workers in unions is below the national average of 10.7 percent, The State Journal reported. …
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Why Donald Trump, and American Workers, Need Andrew Puzder as Secretary of Labor… In order to tackle the U.S. Illegal Immigration issues, even broadly, a person must first change their paradigm and understand the root issue which creates the crisis. The problem was created by the UniParty, and the problem continues specifically because the UniParty desire it to continue. Before you can reasonably present a solution to the illegal immigration problem, you must first understand the economic problem. Understanding how illegal aliens work in the U.S. is step one toward understanding what proposed solutions would/could work, and which are mere...
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Requiring employees in the United States to speak a foreign language is not discriminatory but forcing them to speak English violates federal law under a sweeping order issued by the Obama administration to crack down on “national origin discrimination” in the workplace. The government’s new enforcement guidelines state that bilingual requirements don’t meet discrimination claims under Title VII of the Civil Rights Act but English-only rules do because they’re restrictive language policies. The administration asserts that the new rules, which cover a broad range of scenarios that could get employers in trouble, were created because the American workforce is “increasingly...
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Labor Secretary Thomas Perez learned a harsh lesson this month. Public servants at federal agencies cannot allow their political preferences to guide their regulatory agenda. Rather, they must fulfill the mission of the agency as Congress intended. The folks over at the Department of Labor (DOL) do not seem to comprehend that. Once again, a court has issued an injunction against a DOL regulation. This time it was President Obama’s signature overtime rule, finalized on May 23, 2016, which would more than double the salary threshold for overtime eligible employees from $23,660 to $47,892. On November 22, 2016, Judge Amos...
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A federal judge on Tuesday blocked an Obama administration rule to extend mandatory overtime pay to more than 4 million workers from taking effect, imperiling one of the outgoing president's signature achievements for boosting wages. U.S. District Judge Amos Mazzant in Sherman, Texas, agreed with 21 states and a coalition of business groups, including the U.S. Chamber of Commerce, that the rule is unlawful and granted their motion for a nationwide injunction. It was to take effect Dec. 1. The rule would have doubled to $47,500 the maximum salary a worker can earn and still be eligible for mandatory overtime...
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A Texas judge Wednesday issued an order to block the Labor Department from enforcing its union “persuader rule.” Judge Sam Cummings granted a motion for summary judgement in favor of the National Federation of Independent Business and turned the temporary stay he ordered in June into a permanent injunction. In the one-page order, he said the rule “should be held unlawful and set aside.” The rule, finalized in March, would force employers to disclose outside consultants they hire to counter workers' union organizing efforts. It would require employers to report any action, conduct or communication undertaken — explicitly or implicitly,...
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The Obama administration late Tuesday unveiled a final rule extending overtime pay to millions of workers. The regulation makes anyone earning up to $47,476 a year, or roughly $913 a week, eligible for overtime pay. The rule is one of the most significant regulatory initiatives of President Obama’s second term, and has drawn fierce opposition from industry groups. With the Republican Congress standing firm against a minimum wage increase and other economic proposals from Democrats, the president has exerted the power of the executive branch to try and burnish his legacy. In a concession to business groups, the administration reduced...
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Federal labor officials may soon destroy free choice in the retirement system by overhauling investment regulations, according to a report Wednesday. The Department of Labor (DOL) has argued people are just not knowledgeable enough to plan for their own retirement. It has proposed a rule to categorize more people...
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Mergers may increase even more among brokerage firms due to the Labor Department's proposed fiduciary rule A second major insurance company has decided to exit the brokerage business this year as MetLife Inc. announced Monday it is selling its U.S. adviser unit to Massachusetts Mutual Life Insurance Co. The sale includes the firm's Premier Client Group, consisting of about 4,000 advisers across the U.S. who sell insurance, annuities and other investment products such as mutual funds, plus its broker-dealer MetLife Securities Inc., according to the company's announcement. Metlife is shedding the unit as brokerage firms face higher compliance costs tied...
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