Labor/Economics

[ap215]

Ford, Unifor reach tentative agreement for Canadian autoworkers

The Canadian autoworkers union Unifor has reached a tentative agreement with Ford Motor Co. after it extended negotiations with the Dearborn automaker beyond a self-imposed Friday deadline, the labor group said Saturday evening.

Meredith Keenan, vice president of human resources at Ford Motor Co. of Canada Ltd., also confirmed the agreement in a statement, which she said is three years. Keenan said she declined to provide further details out of respect for the ratification process.

https://www.msn.com/en-us/money/compani ... ngNewsSerp

[ap215]

DOJ Grand Jury Investigates Allegations Involving Shawn Fain as 400,000 UAW Members Prepare for Crucial Vote

A federal grand jury is investigating allegations that United Auto Workers (UAW) President Shawn Fain pressured a senior union official to secure benefits for his fiancée and her sister, according to internal union communications first reported by Bloomberg News on 12 July.

The timing could hardly be worse for the union's 400,000 members. They are preparing to elect a president in a six-way race this autumn while the leadership they pay for fights a federal legal battle funded, in part, by their dues.

https://www.ibtimes.co.uk/uaw-president ... on-1808246

[ap215]

DOJ Grand Jury Investigates Allegations Involving Shawn Fain as 400,000 UAW Members Prepare for Crucial Vote

A federal grand jury is investigating allegations that United Auto Workers (UAW) President Shawn Fain pressured a senior union official to secure benefits for his fiancée and her sister, according to internal union communications first reported by Bloomberg News on 12 July.

The timing could hardly be worse for the union's 400,000 members. They are preparing to elect a president in a six-way race this autumn while the leadership they pay for fights a federal legal battle funded, in part, by their dues.

https://www.ibtimes.co.uk/uaw-president ... on-1808246

[ap215]

Consumer prices rose 3.5% annually in June, less than expected as energy prices eased

Consumer prices posted their biggest decline in more than six years during June as a sharp swoon in energy prices provided at least temporary relief from this year’s inflation surge, the Bureau of Labor Statistics reported Tuesday.

The consumer price index, a broad measure of costs for goods and services across the U.S. economy, was lower than expected across the board. The CPI fell a seasonally adjusted 0.4% for the month, bringing the annual inflation rate down to 3.5%.

https://www.cnbc.com/2026/07/14/consume ... -2026.html

[ZoWie]

That's meaningless because trump's on again off again war in the Middle East is very much on again, and the strait of Hormuz is closed indefinitely again. There goes the price of oil, again.

[ap215]

Bellingham Herald union members ratify new contract after strike

Following a one-day strike in May, Bellingham Herald — one of five Pacific Northwest newspapers negotiating with McClatchy Media — secured raises and protections against artificial intelligence in a new three-year contract.

“It’s not everything we wanted, but I guess we’ll take it,” said Jack Belcher, a Bellingham Herald reporter. “The AI language is pretty good. We’re still getting some money, but not much that we wanted. All in all, I think it’s just a rough compromise.”

https://salish-current.org/2026/07/16/b ... er-strike/

[ap215]

Brooklyn Defender Services strike ends after tentative labor deal reached

The threat of a mass citywide public defender strike wreaking havoc on the city’s courthouses appeared to be averted on Tuesday after striking attorneys reached a deal on a new labor contract with the city’s second-largest public defender group.

Unionized members of Brooklyn Defender Services ended their strike after a tentative agreement for a new labor contract was reached late Tuesday night, both BDS and the Association of Legal Advocates and Attorneys – UAW Local 2325 confirmed.

https://queenseagle.com/all/2026/7/22/b ... al-reached

[ap215]

Labor board certifies union election at SSM Health St. Mary’s in Madison

The National Labor Relations Board has certified the union election for hundreds of nurses at SSM Health St. Mary’s Hospital in Madison.

Nurses at the hospital voted 511-63 to unionize with the Service Employees International Union of Wisconsin back in June. After the vote, SSM Health filed objections to the conduct of the election with the National Labor Relations Board.

https://www.wpr.org/news/labor-board-ce ... in-madison

[ap215]

Earnings Scoreboard: 83% of S&P 500 early reporters top EPS estimates ahead of big tech wave

Earnings season moved into high gear this week, as 78 major S&P 500 leaders across the financial, industrial, technology, and health care sectors provided a comprehensive health check on the global economy. Resilient performance across defense, consumer demand, and core financial services has established strong corporate fundamentals as markets brace for the next major wave of mega-cap technology earnings.

Earnings Roundup:

Bottom Line: Out of the 78 companies reporting, 65 exceeded EPS expectations, 10 fell short, and three met estimates. Notably, 60 firms posted year-over-year earnings growth.

https://seekingalpha.com/news/4617926-e ... r_safari=1

[ap215]

U.S. economy slowed to 1.5% growth rate in Q2; June core inflation at 3.3%

Economic growth was weaker than expected in the second quarter while inflation in June held well above the Federal Reserve’s goal, the Commerce Department reported Thursday.

Gross domestic product, a broad measure of goods and services, increased just 1.5% for the April-through June period, according to Bureau of Labor Statistics numbers adjusted for seasonality and inflation.

https://www.cnbc.com/2026/07/30/us-econ ... rcent.html

[ap215]

Private companies added just 44,000 workers in July, below expectations, ADP reports

Hiring at private companies slowed considerably in July, with most of the job growth coming from healthcare, payrolls processing firm ADP reported Wednesday.

Nonfarm job growth excluding government totaled a seasonally adjusted 44,000 for the month, below the downwardly revised 95,000 in June and less than the Dow Jones consensus forecast for 75,000.

https://www.cnbc.com/2026/08/05/private ... ports.html

[ZoWie]

I assume that's the same CNBC that spent this whole morning predicting continued prosperity forever due to AI. Hard to take them seriously.

[ZoWie]

CNBC was giddy all morning about how AI will make us all billionaires. Meanwhile, all the news channels were reporting a third AI escaping its sandbox and hacking other people's web sites.

Right now it strongly appears as if the Internet is at war with itself. Hope we don't trust the net with the nuclear button.

[ap215]

Jobs report shows US unexpectedly lost jobs in July

The U.S. economy unexpectedly lost jobs in July, demonstrating a wobbly labor market as shoppers continued to withstand a surge of inflation set off by the Iran war.

The U.S. lost 23,000 jobs in July, according to the federal government's monthly jobs report, which marked a decline from 57,000 jobs added in June.

https://abcnews.com/Business/jobs-repor ... =135422024

[ap215]

Voters prefer Democrats over Republicans on economy for first time in a decade, Reuters/Ipsos poll finds

WASHINGTON, Aug 3 (Reuters) - Americans picked Democrats ​over Republicans as better stewards of the economy for the first time in nearly a decade in a Reuters/Ipsos ‌poll, which also found their approval of President Donald Trump's performance falling to 35%.

The finding, in a poll conducted Wednesday through Monday, showed how Trump's handling of the economy, including rising energy prices resulting from the Iran war, could weigh on his party's chances in the November midterm elections that will determine control of Congress for ​the next two years.

https://unwall.app/www.reuters.com/worl ... 026-08-03/

[ZoWie]

Since US voters seem to vote based on their pocketbooks, this is indeed significant. It probably has more relevance to the mood out there than most other questions asked on polls.

[ap215]

Consumer prices rose 0.1% in July, as expected, putting the annual rate at 3.4%

A key inflation reading Wednesday showed prices moderating across a range of goods and services, possibly taking the urgency out of an imminent interest rate hike.

The consumer price index, part of the Federal Reserve’s inflation dashboard, showed a seasonally adjusted increase of 0.1% during July, according to the Bureau of Labor Statistics. Excluding food and energy, so-called core CPI rose 0.2%.

https://www.cnbc.com/2026/08/12/cpi-inf ... -2026.html

[ZoWie]

These indicators lag the situation in the real world. The price of gas is going up again, thanks to the situation in the fifth month of trump's 5-week war. Ditto for diesel. Why should I care about diesel? Because it is used by the trucks and locomotives that move all the goods now. When it goes up, everything else you buy goes up. That's why.

[Number6]

These indicators lag the situation in the real world. The price of gas is going up again, thanks to the situation in the fifth month of trump's 5-week war. Ditto for diesel. Why should I care about diesel? Because it is used by the trucks and locomotives that move all the goods now. When it goes up, everything else you buy goes up. That's why.

You're right about gas and diesel prices. It's part of Trickle Down economics when the price of gas and diesel goes up the cost of transportation for those good trickles down to the consumer.

[ap215]

Wholesale prices were flat in July, below expectations for 0.2% increase

Wholesale costs for goods and services were flat in July, the Bureau of Labor Statistics reported Thursday in the latest positive sign for inflation.

The producer price index, a measure of underlying inflation pressures, was unchanged for the month, below the 0.2% Dow Jones consensus estimate and after falling 0.1% in June. The June figure was revised from a previously reported decline of 0.3%.

https://www.cnbc.com/2026/08/13/wholesa ... rease.html

[ap215]

Agreement reached between Transdev, Teamsters to end paratransit strike

UPDATE: A tentative deal was reached on Wednesday night between Transdev and Teamsters Local 631 to end the paratransit strike, pending ratification.

The following statement was released by the RTC CEO, M.J. Maynard.

https://www.cnbc.com/2026/08/13/wholesa ... rease.html

[ZoWie]

My guess is that the PPI reflected the phony peace offensives in Iran, and now that we're back in full war mode and oil is expensive again, it'll at some point continue its steady increase. People elected trump to do something about inflation and war. He did something, all right. He made both worse.

[ap215]

US retail sales post first decline in nine months in July

WASHINGTON, Aug 14 (Reuters) - U.S. retail sales fell in July for the first time in nine months as the boost from big tax refunds faded, suggesting that consumer spending was slowing down and prompting economists to slash their economic growth estimates for ​the third quarter.

The unexpected decline in retail sales reported by the Commerce Department on Friday was also payback after Amazon pulled forward its Prime Day event to June from July, with other retailers offering ‌competing promotions. A retreat in gasoline prices also weighed on receipts at service stations.

https://unwall.app/www.reuters.com/busi ... 026-08-14/

[ap215]

Southern Glazer’s Wine & Spirits Teamsters Win Strike in New York

(WASHINGTON) – A group of 200 workers at Southern Glazer’s Wine & Spirits across New York have ratified a strong new agreement after a 24-hour strike. The members of Teamsters Locals 118, 294, 317, 445, and 449 were forced to strike over the company’s failure to offer fair wages, increased pension contributions, and improved working conditions.

“Our members were energized and prepared to stay on the picket line for as long as it took to get a fair agreement,” said Jeff Padellaro, Director of the Teamsters Brewery, Bakery, and Soft Drink Conference. “In the end, they secured an excellent contract that rewards their hard work and dedication.”

https://teamster.org/2026/08/southern-g ... -new-york/

[ap215]

30-year Treasury yield tops 5.31%, the highest in 19 years

Treasury yields were higher on Monday as oil prices rose, with worries growing among investors about persistent inflation and government borrowing.

The 30-year Treasury yield, which is typically sensitive to geopolitical events, advanced more than 4 basis points to 5.311%. It reached its highest level since June 2007.

https://www.cnbc.com/2026/08/17/treasur ... nutes.html