Work & the Economy
Members of U.S. Senate panel press financial regulators on massive bank failures
WASHINGTON — Financial regulators promised a full review of Silicon Valley Bank’s massive failure as members of a key U.S. Senate panel on Tuesday interrogated the officials about what led to the second-largest bank collapse in U.S. history. Members of the Senate Committee on Banking, Housing and Urban Affairs asked if the Federal Reserve could […]
Company tests a $5k subsidy to help employees pay for child care
When the COVID-19 pandemic made filling job openings even tougher than it had been for years, Tina Kowalczyk decided to see what Schreiber Foods could do to help employees with child care. Kowalczyk leads the benefits team at Schreiber, a Green Bay producer and distributor of branded foods, including cheeses, dairy beverages and yogurt, with […]
U.S. Senate leader calls for safety audit into all major railroads after Ohio derailment
U.S. Senate Majority Leader Chuck Schumer called Wednesday for the federal authority responsible for determining the causes of transportation casualties to investigate the safety culture at all major North American freight railroads. Following the Feb. 3 Norfolk Southern derailment that caused a toxic chemical spill in East Palestine, Ohio, Schumer, a New York Democrat, said […]
Advocates take aim at Congress members who say they’ll fight FTC ban on noncompete clauses
Just after New Year’s Day the Federal Trade Commission said it was moving to block employers from restricting where ex-employees can go to work. Noncompete clauses — contract provisions that forbid a worker who leaves a job from working for a competing employer or starting a competing business, usually in a specific geographic area — […]
Biden says U.S. bank deposits are safe despite tumult over California bank collapse
WASHINGTON — President Joe Biden reassured Americans early Monday that their money is safe in U.S. banks, after a tumultuous weekend following the collapse of Silicon Valley Bank and a move by regulators to shut down a second lender. Americans “should feel confident that their deposits will be there, if and when they need them,” […]
State Reps Hong and Shelton reintroduce Economic Justice Bill of Rights
Two years after its initial introduction into the state legislature, State Reps. Francesca Hong (D-Madison) and Kristina Shelton (D-Green Bay) reintroduced their Economic Justice Bill of Rights (LRB-1728), surrounded by supporting public officials and social justice organizations on the Assembly floor at the State Capitol (WisconsinEye recording). They have re-opened a door to reviving Wisconsin’s […]
Jobs return to pre-pandemic numbers, but the workforce is shrinking
Wisconsin now has almost as many jobs as it did before the COVID-19 pandemic three years ago, according to the latest numbers from the state labor department, but fewer people are working or available to work than even one year ago. The state unemployment rate inched down slightly in January to 2.9%, closing in on […]
Biden budget asks for 25% tax on billionaires, boosts in domestic and defense spending
WASHINGTON — President Joe Biden said Thursday he’s ready to meet with U.S. House Speaker Kevin McCarthy to hash out federal spending as soon as House Republicans release their budget, a challenging task without a firm deadline. “I’m ready to meet with the speaker anytime, tomorrow if he has his budget,” Biden said during a […]
Powell signals higher interest rates. Here’s why Friday’s jobs report will affect Fed’s decision.
Federal Reserve Chairman Jerome Powell said this week that interest rate increases could be higher and come faster if Friday’s unemployment data shows the nation’s labor market isn’t cooling off. Stock indexes fell after his comments. That’s been a familiar pattern over the past year as the federal bank has tried to combat inflation. A […]
Proposed federal rule would lower credit card late fees
As Americans continue to struggle with high credit card rates, the Consumer Financial Protection Bureau has proposed a rule to help lessen some of their financial burden — in the form of lower late fees. The new rule would limit late fees to $8. Currently credit card companies can charge as high as $41 — […]
Some small business owners see paid leave proposal as a boon to hiring
In 2012 when they were living in Canada, William and Nicole Green welcomed their first daughter into the world, and Nicole, a Canadian citizen, was able to take a year off from work with pay. Two years later they were living in Wisconsin when their second daughter was born. The available time off was just […]
Child poverty dropped to a record low last year. A new report shows how to keep it that way.
The expanded child tax credit that families received in 2021 helped reduce child poverty across the country, but particularly in the South where families lack a sufficient safety net, according to a paper released on Wednesday. The report by the Hamilton Project, the Brookings Institution’s economic policy initiative, comes as some Democrats appear ready to […]