The Economy
Workers Bear the Costs of War (September 1, 2006)
This Labor Day marks the third year that thousands of working Americans have left their families and their jobs to fight in a war that the Bush administration will not bring to a close. As always, labor has borne the brunt of the war. The Economy
The Job “Recovery” Is Over (August 15, 2006)
With the fifth anniversary of the end of the last recession now approaching, both employment and wages should be fully restored to their pre-recession levels and growing in real terms. Instead, both are still below their 2000-2001 peaks, with no sign of any improvement before the business cycle turns down again. Wages
$2.10 for Minimum Wage Workers, Billions for the Ultra-Rich (August 2, 2006)
If anyone ever doubted that the Republican Party is the party of the rich, working tirelessly to make themselves richer off the labor of American workers, those doubts were erased as Republicans moved into action in the final days of the Congressional debate over the federal minimum wage. The Economy
The Slowdown Hits U.S. Workers (June 30, 2006)
U.S. employers have quietly been raking in extraordinarily high profits for the past two years while holding wages down and shifting more benefit costs onto workers. Real wages will decline further as economic growth slows in the United States and worldwide over the next year. Corporate Profits
The Growing Power of the Fortune 500 (May 30, 2006)
President Bush’s appointment of Henry M. Paulson as Treasury Secretary cements the administration’s commitment to placing policy-making posts in the hands of the Fortune 500. Paulson, who is chairman and CEO of Goldman Sachs, has devoted his entire career to building wealth on Wall Street. Wages
Lower Wages, Higher Profits (April 28, 2006)
With gas an oil prices going up again, workers are seeing yet another large bite taken out of their wages. Inflation for 2006 will likely wipe out average wage increases, leaving workers with less purchasing power. At the same time prices and corporate profits keep going up. Pensions
Pension Terminations Increase as Funding Improves (April 18, 2006)
The pension crisis that hit during the 2000-2003 downturn has eased, with large pension plans showing an increase in their funded status above projected annual returns for the third year in a row. But the crisis provided an opening for employers to terminate their plans, and that trend continues despite improvements in returns on pension investments. The Economy
Labor Market Forecasts (April 3, 2006)
Organizing workers and bargaining for wage and benefit improvements will become more difficult over the next decade as labor market trends continue to undercut the unionized sectors and job growth occurs primarily at the lower end of the wage spectrum. Pensions
Taking Retirement Public (March 17, 2006)
The sudden escalation in the number of U.S. companies that are terminating or freezing their pension plans spells disaster for U.S. workers because there is no adequate public pension system to replace private plans when they disappear. Benefits
Tipping the Scales Toward National Health Care (March 1, 2006)
With health care costs continuing to rise, thirty percent of the nation’s Chief Financial Officers (CFOs) are ready for Congress to consider a national health care plan, the highest percentage ever recorded by the annual survey of U.S. senior finance executives conducted by CFO magazine. The Economy
The Real Cost of the Bush Presidency (February 13, 2006)
During the last year of the Clinton administration domestic spending finally outpaced military spending as a percentage of GDP for the first time since 1940. The United States had finally joined other advanced nations in putting more money into social programs than the military. But that huge achievement was short-lived. Beginning in 2003, the U.S. resumed its military buildup and put a quick end to improvements in domestic programs. Bush’s new fiscal year 2007 budget has the U.S. spending more on its military than the entire rest of the world combined. Benefits
Bush’s Plan: Finance Your Own Benefits (February 1, 2006)
In his 2006 State of the Union address, Bush once again advocated benefit plans that require workers to pay for benefits that were once fully employer-funded. It is the first time in the history of the United States that the federal government has moved to unravel a benefits system that took union workers half a century to build. Pensions
401(k)s Won’t Stop the Impoverishment of Retirees (January 17, 2006)
Employers have escalated their attempt to abandon pension plans. Although freezing pension contributions was once a tactic used primarily by companies with falling profits, this strategy is now pursued by highly profitable companies to cut costs and raise earnings. Bargaining
Transit Strike Victory Points to Harsh New Reality for American Workers (January 6, 2006)
December’s three-day strike by the 33,700 members of New York City’s Transport Workers Union Local 100 was a victory for the workers as they turned back significant pension cuts for future employees. And that victory comes at a time when corporations and state governments are freezing and eliminating pension plans for tens of thousands of workers. While the strike was a victory, it was stark evidence of a new and far more brutal reality that workers now face across the United States: declining real wages and a broadside attack on health care and pension benefits. Pensions
The Attack on Public Sector Pensions Will Accelerate (December 5, 2005)
The pension crisis that began in the steel industry and swept through the airlines and auto industries is now moving on to the public sector. Defined benefit pension plans are in jeopardy as state and local governments move to end these plans and shift to 401(k)-type plans for public employees. The Economy
The Perpetuation of Poverty and Race Discrimination (November 15, 2005)
U.S. unemployment rates have historically moved along racial lines in a recovery, but Bush administration policies have created even sharper distinctions between the employment opportunities for white and black workers. Workers with less education – overwhelmingly black and locked into large metropolitan areas – are still unemployed at triple the rates for white workers. But the administration and its allies in Congress are cutting back federal funding for the very programs that could help black youths enter college and end a long-standing cycle of poverty, leaving them instead to fall into the ranks of the chronically unemployed and underemployed. Pensions
The Larger Pension Question Looms (October 31, 2005)
A retirement based only on Social Security benefits and 401(k) payouts will leave most Americans in poverty. Pensions have made the difference between a modest but adequate retirement and financial disaster for millions of elderly Americans. The U.S. retirement system has long rested on the assumption that workers would draw from three sources of retirement income: Social Security, pension plans and personal savings, which now commonly take the form of employee contributions to 401(k)s. Without pensions, the system is not valid. Jobs
Bush Corporate Government Seizes Katrina Opportunity (September 14, 2005)
With people still stranded on rooftops and bodies floating in the floodwaters of Hurricane Katrina, the Bush administration did what it has always done best: it moved with lightning speed to dole out lucrative contracts to private corporations. Benefits
Workers Lose Stock Options (September 12, 2005)
The gap between the diverging paths for wages and profits will grow wider as more companies abandon their broad-based employee stock options plans over the next year and do not replace them with other forms of compensation. Wages
Labor’s Smaller Share (September 2, 2005)
This Labor Day marks yet another year of decline in the living standards of U.S. workers. The downward trend in real wages has continued for so long that workers no longer expect an annual wage increase. And the assault on benefits is now so entrenched that many workers don’t receive or expect to receive basic benefits. Wages
Workers Left out of the Recovery, Wages Remain Flat (August 11, 2005)
The most recent round of economic reports points to higher growth in all parts of the economy except one: wages. Wage increases are weak and are forecast to remain low in 2006. The Economy
Employers Benefit from Slow Job Growth (July 15, 2005)
It’s easy to understand why the Bush administration has remained silent about the issue of slow job growth and the staggering number of long-term unemployed. Slack labor markets and ongoing unemployment best serve the interests of the administration and the corporate community at this particular economic juncture. Trade
CAFTA No: U.S. Workers Can’t Afford Another NAFTA (June 24, 2005)
The Central America Free Trade Agreement (CAFTA) — the latest installment of “free” trade legislation being pushed by President Bush — narrowly passed in the House and Senate Finance Committees last week and may soon be put to a formal Congressional vote. While it seems the deal lacks adequate support, it is critical that labor and its allies keep the heat on until it is defeated. What is at stake is no less than the future direction of world trade — and whether U.S. workers will continue to lose good jobs as the global sweatshop expands. Pensions
Reforms Needed To Strengthen Multi-Employer Plans (June 9, 2005)
Although most of the media coverage of the pension crisis has focused on single-employer plans, multi-employer plans are also slipping into financial trouble. The Pension Benefit Guaranty Corporation (PBGC) estimates that these plans are underfunded by $150 billion. Pensions
The Crisis at the PBGC (June 1, 2005)
While the debate over the future of Social Security continues in Congress, the undoing of the private pension system is now moving at a vastly accelerated pace with the very real crisis that has been precipitated in the Pension Benefit Guaranty Corporation, the federal agency that insures both single employer and multi-employer private pension plans. Wages
The U.S. Is Leading the Race to the Bottom (May 13, 2005)
The Bush administration’s attempt to dismantle Social Security and push more health care costs onto individuals coincides with the longest slide in real wages in two decades. As labor costs in the United States continue to decline, employers in other advanced nations will feel pressured to lower their costs to avoid further erosion in their competitive position. The Economy
Slower Growth and a Disastrous Budget Set the Stage for Recession (May 2, 2005)
U.S. workers and their unions should brace for higher unemployment and greater downward pressure on wages for the remainder of the year. Benefits
The Auto Industry Crisis is a Health Care Crisis (April 15, 2005)
The auto industry's financial crisis born of mismanagement leaves the companies facing costs they cannot cover, including health care costs. The Economy
Workers Can’t Afford Bush’s “Ownership Society” (April 1, 2005)
The Bush administration’s push to privatize Social Security is part of its broader agenda for an “ownership society,” outlined in Bush’s inaugural address as the cornerstone for domestic policy for his second term. The Economy
Bush Budget: All Guns, No Butter (February 14, 2005)
Bush’s $2.57 trillion budget for 2006 increases military spending by 4.8 percent — not including the war in Iraq — and cuts all other federal government programs by 0.5 percent, with the deepest cuts aimed at services for working Americans and the poor. Benefits
Social Security Privatization: The Final Blow (December 28, 2004)
The massive shift in wealth that began with the Republican victory in 2000 and escalated during the 2001 recession is now reaching its final stage in the plan to privatize Social Security. Trade
The Falling Dollar and U.S. Workers (December 20, 2004)
Working Americans rarely have any reason to check the latest foreign exchange rates. Minor currency fluctuations simply don’t have a visible impact on their lives. But the decline in the value of the U.S. dollar is now so acute that the effects will soon become apparent to all U.S. wage earners and consumers. Wages
Real Earnings Plunge as Prices Rise (November 29, 2004)
The October jump in the producer price index and the consumer price index signals a new phase in the four-year trends in inflation and real wages. These trends now confirm a downward trend in the living standards for U.S. workers. From October 2003 to October 2004, real average weekly earnings fell by half a percentage point. Economy
Bush’s Legacy: DoD Nation (November 1, 2004)
When the dust from the 2004 presidential election has cleared, the real legacy of the Bush administration will remain unchanged. That legacy is a military buildup that has drained the nation of money, jobs and productive capacity, and established the Department of Defense (DoD) as the largest business organization in the world. Corporate Profits
Bush's World of Inequality (October 14, 2004)
The October 12 passage of Bush's $137 billion tax break for large U.S. corporations foreshadows what four more years of his policies will look like if he is re-elected on November 2. Corporate tax receipts already stand at historically low levels. Since Bush took office, the effective tax rate for corporations has plummeted from 26.1 percent in 2001 to 20.1 percent in 2004. Corporate Profits
Bush’s Corporate Tax Handouts (September 1, 2004)
Corporations have contributed huge sums to the Bush election campaign from record-setting profits that have been fueled in part by enormous corporate tax reductions. Bush provided small tax reductions for working Americans while granting corporations billions in tax savings. This handout to corporate America has pushed the federal deficit to record levels.
Wages
Bush's Jobless, Payless "Recovery" (August 15, 2004)
Across the United States, the consequences of President Bush's economic policies can be seen in the budget of every America family. In fact, workers' real (inflation-adjusted) earnings are declining across all sectors of the economy. For the year ending June 2004, real earnings fell in nine of the twelve months. A decline in real earnings of this depth and duration has never before been recorded by the Bureau of Labor Statistics.
Pensions
The Pension Crisis Hits the Fan (July 29, 2004)
The private defined benefit pension insurance system in the United States could be headed for collapse in the face of United Airlines' July 23rd announcement that it will not make any further contributions to its four pension plans, signaling that the company will attempt to terminate pensions for all or some of its 134,000 active and retired employees. Economy
Capital Flight Accelerates and Moves East (July 13, 2004)
Global multinational corporations, led by U.S. based multinationals, stepped up the export of capital in the first half of 2004. For U.S. based multinationals, as investment has shifted, so have jobs. As domestic employment by U.S. multinationals has declined, foreign employment has increased. And where, as recently as the late 1990s, the United States and Europe were the largest recipient of foreign direct investment, China and India are now the leading recipients.
Economy
As the Economy Grows, Workers Still on the Short End (May 24, 2004)
U.S. economic growth is strong but real wages are falling, unemployment is still high and poverty is rising. The most recent data for profits, assets, income and wages indicate that all the gains of the recovery have been captured by the wealthiest sectors. Wages
Bush Backs Off Assault on Overtime Pay (April 28, 2004)
The new overtime regulations finalized on April 23 are more generous than the original Bush administration proposals, but workers and their unions will have to watch carefully to protect overtime eligibility. Economy
Rising Rates Will Hit Workers Hard (March 11, 2004)
With record levels of personal debt, many workers will face financial meltdown when interest rates rise. Real wages for U.S. workers have been stagnant for two years, while their required benefit payments have increased. Many are jobless or have been through periods of unemployment since the recession hit in 2001.
Economy
The Bush Budget Disaster (February 18, 2004)
Bush’s proposed $2.4 trillion 2005 federal budget, released February 2, calls for a 3.5 percent increase in overall spending, with virtually all of the increase going to the military and little left for domestic programs. More importantly, Bush is demanding that the 2001-2003 tax cuts become permanent, which will lock the nation into huge, long-term deficits and undermine economic growth. Jobs
Bush and Fiscal Crisis Pummel Public Workers (Jan. 22, 2004)
Although attention has focused on unemployment and falling real wages in the private sector, public workers have been hit hard by the fiscal crisis created by the recession and the Bush administration’s anti-worker economic policies. Economy
Bush Domestic Spending Cuts Just the Beginning (Jan. 12, 2004)
Now that Bush has generated record-breaking federal deficits, the inevitable spending cuts will accelerate. On February 2, he will deliver to Congress and the American taxpayer the federal budget for 2005 with deeper cuts in domestic programs. Wages
Government Study Says No Improvement in Gender Pay Gap Over Two Decades (Dec. 18, 2003)
Equal pay for women remains stubbornly elusive, according to a new government study, the most comprehensive survey on the subject ever conducted. Women still earn about 80 cents on the male dollar, even accounting for variables like work patterns, industry, occupation, race, marital status and job tenure, all of which can affect pay levels, according to a congressionally commissioned study by the Government Accounting Office that examined 18 years of data on more than 9,300 Americans.
Trade
US Commerce Dept. Slaps Anti-Dumping Duties on Chinese Color TVs (Dec. 18, 2003)
Trying to stem the flood of unfairly priced Chinese-made color television sets into American markets, U.S. authorities have imposed whopping duties on incoming imports from the world’s fifth largest trading nation, sparking cheers from labor and manufacturing sectors and jeers from across the Pacific. Jobs
New Round of Layoffs on the Horizon as Merger Activity Heats Up (Nov. 24, 2003)
Although mass layoffs declined in the third quarter of 2003, a new wave of layoffs is gathering on the horizon as merger and acquisition activity gains strength. Workers' Rights
Federal Grand Jury Investigating Wal-Mart’s Use of Undocumented Immigrants (Nov. 12, 2003)
As the Feds’ "Operation Rollback" last month swept through 60 of Wal-Mart’s stores, scooping up more than 250 undocumented immigrant contract janitors, there was little to smile about in the corporate headquarters of the famously anti-labor retail giant. Corporate Profits
The Squeeze on American Workers Threatens Economy: Labor’s Real Rewards Plummet (Nov. 7, 2003)
The useful measure of workers’ share of what they produce is the unit labor cost data reported each quarter by the Bureau of Labor Statistics. The data now show the largest and most sustained decline in unit labor costs in the fifty-year history of the series. Benefits
Health Costs Reach Catastrophic Levels (October 8, 2003)
Extensive new survey data released within the past month confirm that the crisis in health benefit costs has reached catastrophic proportions. Jobs
Bush’s Job-Loss Recovery the Worst on Record Since the Great Depression (October 7, 2003)
With wages stagnant, job creation slow and unemployment swelling, it’s clear that President Bush’s trillion-dollar tax cuts still haven’t produced the kind of economic recovery that will lift all workers and job seekers. Wages
House Stings Bush Administration on Vote to Protect Overtime Pay (October 7, 2003)
In a move that illustrates how much bleaker the nation’s employment picture became in just the past few months, the solidly arch-Republican House of Representatives reversed course on October 2 and dealt a major blow to the Bush administration’s attempt to gut overtime pay protections. Jobs
Exporting the Blame for Job Loss in the United States (Oct. 1, 2003)
Claims that China and India are "stealing" U.S. jobs take all the blame off Washington and U.S. corporations. It is the Bush Administration’s policies that have encouraged the export of jobs to cheap labor countries, and it is U.S. corporations that are leading the way. Jobs
Why Federal Employment Policy Is Failing (Sept. 12, 2003)
Without a complete reversal in federal policy, U.S. workers will suffer from widespread unemployment and the resulting downward pressure on wages for years to come. The job loss incurred in this business cycle cannot be reversed by the small boost in spending created by Bush’s "Jobs and Growth" tax cuts. Benefits
The Destruction of Retiree Benefits (Aug. 28, 2003)
The current crisis in health care and pension costs has pushed both retiree health plans and defined benefit pension plans – the twin pillars of retirement security – onto the list of employee benefits that may not survive into the next decade. Pensions
Consequences of the Health Care and Pension Benefits Crisis (August 13, 2003)
Record-breaking increases in benefit costs now preoccupy negotiators for virtually every major union contract. All eyes are fixed on who will carry the burden of the spectacular jump in health insurance premiums and pension contributions. Economy
War Economy Pushes Growth up As Unemployment Stays Up (August 1, 2003)
The U.S. economy grew at a 2.4 percent annual rate in the second quarter of this year, according to a July 31 report from the Bureau of Economic Analysis. But more than half of the growth was spurred by a 25.1 percent increase in federal spending, including the largest jump in military spending since the Korean War. Jobs
Trading Away Jobs, Congress to Rubber-Stamp Bush’s First Free Trade Deals (July 29, 2003)
Against the backdrop of cascading job losses and a steadily rising unemployment rate, Congress is set to rubber-stamp two White House-negotiated free trade agreements that promise to export thousands of American jobs.
Economy
Weaker Dollar Spells Short-Term Relief, But Long-Term Trouble for the U.S. and World Economies (July 7, 2003)
The U.S. dollar – traditionally the world’s strongest currency – has declined in value against other major currencies for eighteen months. Since February 2002, the dollar has dropped 17 percent against the currencies of the U.S.’s major trading partners. Economy
What “Deflation” Means for Workers (June 27, 2003)
Workers in a wide range of industries are feeling the force of deflation as it pushes product prices down and incites employers to cut jobs and wages. Taxes
Heartless Tax Cut for the Rich Leaves Poor Working Families in the Dust (June 13, 2003)
The third largest tax cut in American history offered virtually nothing to the lowest wage earners and prevented 6.5 million poor working families from receiving an increased child tax credit. Jobs
The Jobless Bush "Recovery" (June 12, 2003)
High rates of joblessness, and the resulting downward pressure on real wages, are huge drags on the U.S. economy, but Bush’s economic plan does nothing to address these problems. Economy
Unemployment and Falling Wages Are Here To Stay (May 29, 2003)
A number of distinctive features in the current levels of unemployment indicate that high rates of joblessness will linger longer and downward pressure on wages will be greater than in comparable downturns. Economy
Still No Light at the End of the Economic Tunnel (May 27, 2003)
The U.S. economy continues to limp along, with the only seemingly positive development — the fall in the dollar — being none too positive for the world economy as a whole. Taxes
Congress Clears Reckless $330 Billion Tax Cut Giveaway to Wealthy (May 23, 2003)
Congress this week pushed out the third largest tax cut in American history, despite underwhelming enthusiasm even among Republicans and a stamp of disapproval from conservative economic guru Alan Greenspan, the chairman of the Federal Reserve. Wages
Executive ‘Feudalism’ Post-Enron: No Shame When It Comes to CEO Pay (May 19, 2003)
There wasn’t even a pause in the runaway rates of pay that CEOs got this past year, despite public outrage over corporate accounting scandals at Enron, WorldCom and other high-flying U.S. companies. Jobs
Job Retrenchment Continues (May 2, 2003)
US employers continued to reduce the number of workers on their payrolls for the third consecutive month in April. Trade
Bush Steel Industry Plans Hit International Road Block (April 21, 2003)
Will the Bush administration fight to maintain its tariffs on foreign steel, now that the World Trade Organization — the brainchild of U.S. capital in its quest to dominate global markets — has deemed the U.S. use of the safeguard illegal? Jobs
U.S. Continued To Lose Jobs In March (April 4, 2003)
Economist and pundits continue to underestimate the weakness of the economy. Over the past month, more than three-quarters of US economic reports have been reported below expectations. The March jobs data, reported April 4, was not an exception. Jobs
Bush’s ‘Jobs & Growth’ Proposal A Smokescreen for Tax Giveaway to the Rich (Mar.31, 2003)
President Bush may not get away with it this time. Jobs
U.S. Economy Hemorrhages Jobs; Set to Contract Again (Mar. 10, 2003)
The US economy lost 308,000 jobs in February, more than 4 times the job loss than even the most pessimistic forecasts had predicted. This represents the single largest month of job losses since the immediate aftermath of the terrorist attack in September 2001. Jobs
U.S. Employment Report: A Glimmer Of Hope, But... (Feb. 11, 2003)
The monthly US employment report is the most important economic data the government releases. Employment, of course, is the key to income, which in turn is the key to consumption. Jobs
High-Tech, High-Wage Illusions (Apr. 5, 2002)
While it is true that newer occupations such as software engineers and computer network administrators are the fastest growing occupations in the United States in terms of percentages, the reality is that a far larger number of workers will be stuck with low-wage service-sector jobs such as customer service representatives, retail sales clerks, and security guards.
Jobs
Benefits Running Out for a Record Number of Unemployed Workers, Statistics Show (Feb. 4, 2002)
The U.S. unemployment rate fell slightly in January from 5.8% to 5.6%. But while political leaders and some economists are predicting that prosperity is right around the corner, there are signs that hard times are likely to linger for unemployed workers.
Wages
Workers' Real Wages Are Up, According to the Government. But That Does Not Mean Big Raises (Jan. 24, 2002)
Although the recently announced 2.9% annual increase in real weekly earnings
sounds like good news for American workers, it may mean just the opposite. As the economy slows to a recession, the lowest earning workers are laid
off and those remaining in the labor force earn, on average, higher real wages. And for the hundreds of thousands of laid-off temps and other lower-wage workers, there are fewer benefits to help them stay afloat during a recession.
The Economy
The Boom Is Now Officially a Bust (Dec. 03, 2001)
As LRA forecasted in March 2001, the longest economic expansion in U.S. history has reached the end of the line. Now that the recession is official, the game will turn to predicting the coming rebound. But that does not mean that the millions of workers currently out of work or looking for jobs can expect a return to the late 90's hiring bonanza.
Trade
As the U.S. government wages a global war on terrorism, the global assault on workers' rights and the environment continues (Oct. 25, 2001)
The Bush administration and corporate elites are hoping to push ahead with a trade agenda that will lead to job losses at home and further weaken labor and environmental standards around the world.
Jobs
Job Losses in New York City Estimated at 108,500 Following September 11 Attacks (Oct. 1, 2001)
The shockwaves of the September 11 terrorist attacks on the World Trade Center in New York City are being felt throughout the city's labor markets, according to a preliminary analysis conducted by the Fiscal Policy Institute (FPI).
Jobs
Hotel Workers' Union Facing Massive Layoffs; Seeks Relief Package (Sep. 24, 2001)
With U.S. airlines having laid off nearly 100,000 workers following the terrorist attacks on the World Trade Center and the Pentagon, hotels that rely on air-traveling tourists to fill rooms are now laying off thousands of workers.
Development
New York City Labor Unions at the Center of Efforts to Help Rebuild City's Economy (Sep. 21, 2001)
n addition to making an enormous contribution in the rescue and recovery mission following last Tuesday's terrorist attacks on the World Trade Center and Pentagon, the New York City labor movement is also coming together in efforts to aid the thousands of working people who have lost jobs in the wake of this disaster.
Jobs
Ranks of the Unemployed Growing as Companies Continue to Shed Workers (Aug. 23, 2001)
Hitting a nine-year high, the number of U.S. workers collecting unemployment rose to 3,182,000 in the week ending August 11, up 131,000 from the previous week, according to the U.S. Department of Labor.
Wages
Bush Placing Roadblocks in Front of Minimum Wage Hike (July 30, 2001)
Supporters of raising the minimum wage are once again urging Congress to pass legislation giving the nation's lowest paid workers a much needed boost. But with George W. Bush squatting in the White House, the fast-food industry, retailers, and other opponents of the minimum wage are hoping they can put a stop to any new increases.
Trade
Teamsters Deliver a Blow to Bush's Trade Agenda on Mexican Trucks (Jul. 30, 2001)
President Bush's plans to accelerate enactment of a trade rule that would allow trucks from Mexico to roam U.S highways hit a 10-ton roadblock last week: the International Brotherhood of Teamsters.
Jobs
Latest Unemployment Data Signaling Harder Times Ahead for U.S. Workers (Jun. 8, 2001)
Despite a quirky drop in the May unemployment rate, the fallout from the wave of layoffs announced over the past six months is becoming more evident.
Wages
A Minimum Wage Increase Is Likely, But So Are Huge Tax Cuts for Business (May 16, 2001)
Although business interests and their Republican allies have traditionally opposed raising the minimum wage, there is now a bipartisan consensus in Congress that supports it. As a result, the business community has decided that instead of trying to defeat a minimum wage increase, they should load the legislation with massive corporate tax cuts.
Trade
Unions Prepare to Battle Bush Over 'Fast Track' (May 10, 2001)
Undeterred by the more than 20,000 protesters who railed against globalization in Quebec City last month, Corporate America is itching for Congress to grant Bush "Fast Track" trading authority that would allow him to negotiate new free trade deals that will further strangle workers' rights and destroy the environment.
Trade
NAFTA at Seven: Still Hammering Workers, Jobs and Wages, New Study Shows (May 4, 2001)
Despite the efforts of Corporate America's foot soldiers in Washington, D.C. to brand it a huge success, the reality is that the North American Free Trade Agreement (NAFTA) has been an unqualified disaster for working people.
Trade
Not Another NAFTA (Apr. 4, 2001)
The U.S. labor movement is part of coalition mobilizing to derail the 'fast track' to the FTAA .
Corporate Profits
Workers Generated Fat Profits for Corporate America in 2000 (March 30, 2001)
The U.S. economy may be heading toward a recession, but corporate profits continued to surge in 2000.
The Economy
It's Not Going to Get Better, Brace for Recession (March 15, 2001)
Just a couple of weeks ago most mainstream economic forecasters saw the economy heading for a much vaunted "soft landing" under the steady hand of Fed impresario Alan Greenspan. The forecasters are now in a tizzy, as the newest tumult in the stock market indicates that the economy is on the brink of recession.
Jobs
Job Growth Slowed in 2000, but Record-Low Unemployment Continued (Jan. 24, 2001)
Getting hired remained relatively easy in 2000, but year-end employment figures suggest that job seekers may face higher hurdles in 2001. Wages
Escaping Poverty in New York City Requires More Than a Minimum Wage, Report Concludes (Sep. 19, 2000)
A single parent in Brooklyn, New York, trying to raise two kids without government or private assistance needs an annual income of at least $44,592 to lift the family out of poverty. The Economy
The Economic Boom Turns Nine (March 2000)
In March, the current economic expansion entered its ninth year of uninterrupted growth. While the seemingly endless boom was widely celebrated by the press and by politicians, it has also sparked the usual questions about how long it can last and whether the economy is really on a "new" foundation.
Inequality
The Cash Is Flowing to the Top (February 2000)
Jobs are easier to come by these days and the stock market is booming, but a new report on the widening income gap in the United States provides more evidence that families at the bottom and middle rungs of the economic ladder are not sharing in the prosperity.
Jobs
Jobs Were Plentiful in 1999, but Manufacturing Still Saw Big Losses (Jan. 10, 2000)
Rounding out a year of record-low unemployment, December brought more generally upbeat news on the job front, according to the latest employment figures from the U.S. Bureau of Labor Statistics (BLS). But while the overall job numbers are being celebrated as signs of the U.S. economy's remarkable strength, workers in the heavily unionized U.S. manufacturing sector took it on the chin in 1999.
The Economy
The Economy Will Charge Ahead in 2000, Economists Predict (Jan. 03, 2000)
But will workers be sharing in the Wealth?
Jobs
Low-Wage Service Jobs Will Fill the Economy (Dec 16. 1999)
While it is true that the high-tech economy is creating lots of new well-paid job opportunities, the fact is that larger numbers of workers will continue to find only low-wage, no-benefit, service-sector employment.
jobs
Prison Labor Explodes (July/August 1999)
Employers and economists are eyeing prison labor as unemployment falls to historic lows. The Economy
Will the Boom Lead to Bust? (April 1999)
Trying to predict the demise of the current economic boom has become a comedy of errors for many economists. Despite the ongoing global financial crisis, the U.S. economy grew at an impressive annual rate of 3.9% in 1998. Unemployment has remained a low 4.4% and job creation remains strong (although manufacturing has lost more than 337,000 jobs in the last year). Inflation is at a 12-year low, while consumers are keeping things going with loose borrowing and spending.
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