Streetbeat News

Labor Issues

SPY

Federal Reserve's Goolsbee praises the latest jobs report as 'superb' and highlights the end of the port strike as positive news for the US economy. He cautions against overreacting to a single data point.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 2:05 pm

SAVE

SPY

Spirit Airlines is considering bankruptcy, which could significantly impact its operations and stock price. Meanwhile, the September unemployment rate and nonfarm payrolls data show strong economic indicators. A dockworker strike has been suspended following a tentative offer.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 1:39 pm

AMZN

TGT

WMT

Amazon plans to hire 250,000 workers for the 2024 holiday season, maintaining the same hiring level as 2023. This move highlights the retail industry's need for additional workforce during peak seasons. Amazon has also increased hourly wages for its employees. Meanwhile, the NLRB has charged Amazon with unfair labor practices related to union activities. Other retailers like Target and Walmart are also increasing their workforce and wages.

Portfolio Pulse from Anusuya Lahiri

October 04, 2024 | 1:32 pm

SPY

The USA private nonfarm payrolls for September reported an increase of 223,000 jobs, significantly surpassing the estimated 125,000. This indicates a stronger labor market than anticipated.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 12:31 pm

SPY

The U6 unemployment rate for September decreased to 7.7% from 7.9% in the previous month, indicating a slight improvement in the labor market.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 12:30 pm

ZIM

ZIM Integrated Shipping Services shares are trading lower following the suspension of a dockworkers' strike, as a tentative deal has been reached. The strike suspension is set until January 15.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 12:26 pm

AAWH

CRLBF

The International Brotherhood of Teamsters has added 50,000 new members in under three years, partly due to growth in the cannabis industry. The union has successfully organized workers across the cannabis supply chain, including at companies like Cresco Labs and Ascend Cannabis. This expansion reflects a broader trend of workers seeking union representation for better wages and conditions.

Portfolio Pulse from Rolando García

October 03, 2024 | 10:33 pm

JACK

Jack In The Box CFO Brian Scott resigns to take a new position outside the restaurant industry. Dawn Hooper, a 24-year veteran of the company, will serve as interim CFO starting November 1st until a permanent replacement is found.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2024 | 8:06 pm

SPY

Four governors, including those from New York and New Jersey, emphasize the urgency for USMX and the union to reach a fair contract agreement to reopen ports. This situation could impact trade and related sectors.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2024 | 7:49 pm

AMZN

The National Labor Relations Board (NLRB) has filed a complaint against Amazon for alleged union-busting activities, including failing to recognize and bargain with the Teamsters Union for its Delivery Service Partner drivers. The NLRB accuses Amazon of unfair labor practices, such as refusing to acknowledge workers' union rights and retaliating against unionized employees. Amazon has historically opposed being labeled as a joint employer of its contracted delivery companies.

Portfolio Pulse from Anusuya Lahiri

October 03, 2024 | 5:33 pm