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Search Results for 'unemployment'

Opinion: Young Canadians are staring at a bleak future of diminished economic prospects

Posted: 10/3/2023 By: news.google.com
  • Pedro Barata is executive director of the Future Skills Centre
  • At 11.3 per cent, the unemployment rate for Canadians aged 15 to 24 is double that for the country overall
  • Young people are struggling to find jobs, and without proactive solutions their economic prospects could not only be significantly eroded for years, but may never recover
  • Given recent scarring, young Canadians are facing some of the strongest headwinds in the long term
  • It’s understandable that most policy responses focus on the immediate, short-term consequences of economic shocks
  • While this is important, maximizing prosperity and inclusion for all Canadians requires solutions that address less visible longer-term effects, too
  • Future Skills Centre, for example, has funded Evergreen’s Future City Builders program, which brings young people together to design healthier and more equitable cities
  • Governments and employers can also collaborate to create more chances for young people to get work experience and avoid resume gaps after economic shocks.

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The job market is strong, economists say — but workers don’t think so

Posted: 10/3/2023 By: news.google.com
  • The job market remains strong despite gradual cooling from pandemic-era highs, according to labor economists — but workers don't seem to share that outlook
  • About 46% of workers reported a positive six-month outlook for their employers, down from 54% from a year ago
  • "Overall, workers still have more leverage and more job security than before the pandemic," said Julia Pollak, chief economist at ZipRecruiter
  • "I think job seekers comparing this environment to 2021 and 2022 do feel worse off," she added
  • job market is stable but not 'gangbusters'Several metrics — including job openings, quits, layoffs and the unemployment rate — suggest the labor market is healthy, economists said
  • The problems with the 2021, 2022 job marketsIn fact, job openings rose significantly, by 690,000, to 9.6 million in August, the Labor Department reported Tuesday
  • The broader trend is clear: Job openings, along with quits and hires, have cooled from their pandemic-era peaks, economists said
  • Of course, it's unclear if — and the extent to which — the labor market will continue cooling, economists said.

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More evidence that the US job market remains hot after US job openings rise unexpectedly in August

Posted: 10/3/2023 By: abcnews.go.com
  • WASHINGTON -- U.S. job openings unexpectedly rose in August, another sign the U.S. labor market remains strong despite higher interest rates — perhaps too strong for the inflation fighters at the Federal Reserve
  • American employers posted 9.6 million job openings in August, up from 8.9 million in July and the first uptick in three months, the Labor Department said Tuesday
  • Economists had expected only another 8.9 million vacancies
  • ""Yes, the job market is still retaining a lot of heat,'' he said, "but it hasn't gone back on the boil
  • ''The Federal Reserve wants to see the red-hot U.S. job market cool off, reducing pressure on businesses to raise pay, which can feed into higher prices
  • The central bank has raised its benchmark rate 11 times since March 2022 to combat inflation
  • The strong jobs data sent a ripple through U.S. markets with many investors seeing increased odds of more aggressive actions by the Fed
  • Openings and quits are down from their 2022 peaks, while the unemployment rate (at 3.8% in August) remains near a half-century low.

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Tesla Inc (TSLA-Q) Quote - Press Release

Posted: 10/2/2023 By: news.google.com
  • Sep ISM manufacturing report and a speech from Fed Chair Powell later this morning for market direction
  • U.S. and European bond yields today are moving higher
  • The 10-year UK gilt yield is up +4.6 bp at 4.484%.Overseas stock markets are mixed
  • The Eurozone Aug unemployment rate fell -0.1 to match the record low of 6.4%, right on expectations
  • China’s Shanghai Composite Stock Index today was closed for the weeklong Golden Week holidays
  • Also, soaring government bond yields undercut stocks after the 10-year JGB bond yield jumped to a 10-year high of 0.783%
  • Japanese stocks today initially opened higher on signs of economic optimism after the Q3 Tankan large manufacturing business conditions rose more than expected
  • Ltd (CB) fell more than -1% in pre-market trading after JPMorgan Chase downgraded the stock to neutral from overweight.

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Eurozone Jobless Levels Stayed Low in August

Posted: 10/2/2023 By: news.google.com
  • Unemployment in the eurozone returned to record lows in August, suggesting little loosening so far in a tight labor market that has kept wage growth and inflation high.

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India’s Unemployment Rate Declines to 1-Year Low in September - Bloomberg

Posted: 10/2/2023 By: news.google.com
  • (Bloomberg) -- India’s unemployment rate dropped to a one-year low in September as joblessness in rural areas fell despite weak monsoon rains
  • The overall joblessness rate slid to 7.09% last month, from 8.10% in August, data from private research firm Centre for Monitoring Indian Economy showed
  • That’s the lowest reading since September last year
  • Rural unemployment dropped to 6.20%, from 7.11% in August, while urban unemployment rate fell to 8.94% from 10.09% in the same period
  • India recorded the weakest monsoon rains in five years, with the June-September rainfall about 6% less than the long-term average
  • Urban joblessness also saw a dip ahead of the key festival season in India
  • Creating enough jobs for India’s 1.4 billion people remains a key task for Prime Minister Narendra Modi’s government ahead of national elections due next summer
  • Last month, he distributed 51,000 appointment letters to new recruits as part of a special employment initiative amid discontent over rising joblessness.

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India’s unemployment rate declines to 1-year low in September - Times of India

Posted: 10/2/2023 By: news.google.com
  • India’s unemployment rate dropped to a one-year low in September as joblessness in rural areas fell despite weak monsoon rains
  • The overall joblessness rate slid to 7.09% last month, from 8.10% in August, data from private research firm Centre for Monitoring Indian Economy showed
  • That’s the lowest reading since September last year
  • Rural unemployment dropped to 6.20%, from 7.11% in August, while urban unemployment rate fell to 8.94% from 10.09% in the same period
  • India recorded the weakest monsoon rains in five years, with the June-September rainfall about 6% less than the long-term average
  • Urban joblessness also saw a dip ahead of the key festival season in India
  • Employers usually gear up on hiring — especially in the gig and contract employment segment — ahead of Diwali
  • Last month, he distributed 51,000 appointment letters to new recruits as part of a special employment initiative amid discontent over rising joblessness.

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Don’t Expect the Same Raise You Got Last Year - Bloomberg

Posted: 10/2/2023 By: news.google.com
  • (Bloomberg) -- Companies are trimming their budgets for merit raises next year, a sign of belt-tightening that could surprise some employees who had enjoyed two straight years of increases
  • “Also, inflation has come down since last year
  • Bob Toohey, chief human resources officer at Allstate Insurance Co., said compensation budgets in the US “will be lower than last year — all company budgets will be lower than last year
  • pay gains projected by Aon and Mercer are still well above pre-pandemic levels, when raises were stuck around 3% annually
  • That’s due to the continued resilience of the labor market and historically low unemployment, Mercer Senior Principal Lauren Mason said
  • Mason said that further reductions in compensation budgets are possible next year as companies adapt to the changing economic landscape
  • That’s down from 22% last year
  • Salary increases tied to promotions will also decelerate next year, Mercer found, for the simple reason that companies plan to promote fewer people.

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Italy Aug unemployment rate at multi-year low of 7.3%, as job growth resumes

Posted: 10/2/2023 By: news.google.com
  • ROME, Oct 2 (Reuters) - Italy's unemployment rate fell unexpectedly in August to 7.3%, the lowest since January 2009, national statistics bureau ISTAT reported on Monday, as a net 59,000 jobs were created during the month
  • A Reuters survey of eight analysts had forecast an August jobless rate on the rise at 7.7%.ISTAT revised down July's rate to 7.5% from a previously reported 7.6% and also lowered the previous two months' data
  • August's surprisingly strong jobs report comes despite a marked slowdown in the economy and marks a rebound from a negative reading for July, when ISTAT had reported 73,000 job losses
  • In the three months to August, employment was up by 129,000, or 0.5%, compared with the March-to-May period, ISTAT said
  • Compared with August 2022, the number of employed was up by 523,000 or 2.3%.In August, the youth unemployment rate, measuring job-seekers between 15 and 24 years old, was broadly stable at 22.0% versus 22.1% the month before
  • Italy's overall employment rate, one of the lowest in the euro zone, edged up in August to 61.5% from 61.4%.The Italian economy shrank 0.4% in the second quarter from the previous three months and most analysts expect activity to remain weak over the near term, partly to the recent rise in interest rates
  • The government on Wednesday lowered its forecast for 2023 gross domestic product growth to 0.8% from 1%, following the buoyant 3.7% growth seen last year
  • It cut next year's growth forecast to 1.2% from a 1.5% forecast made in April.

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'Anxiety' high as stock market falls, bond yields rise --- what investors need to know after S&P 500's worst month of 2023

Posted: 10/1/2023 By: www.marketwatch.com
  • Last year was about the Federal Reserve rushing to tame runaway inflation with rapid interest-rate hikes after being “behind the curve,” he said
  • U.S. labor market has been strong despite the central bank’s aggressive tightening of monetary policy, with the unemployment rate at a historically low 3.8% in August
  • Investors have been anxious that the Fed may keep rates high for longer to bring inflation down to its 2% target
  • Friday’s close left the S&P 500 logging its worst month since December, dropping 4.9% in September for back-to-back monthly losses
  • The yield curve has been inverted for a while, with short-term Treasurys offering higher rates than longer-term ones
  • S&P 500 index was up 11.7% this year through September, FactSet data show
  • Meanwhile, the iShares 20+ Year Treasury Bond ETF TLT has seen a total loss of 9% over the same period
  • “Few investors want to call the top for peak rates,” said George Catrambone, head of fixed income at DWS, in a phone interview.

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Free Movie FALLING DOWN (1993)

Posted: 10/1/2023 By: freerepublic.com
  • A middle-aged man dealing with both unemployment and divorce, William Foster (Michael Douglas) is having a bad day
  • When his car breaks down on a Los Angeleshighway, he leaves his vehicle and begins a trek across the city to attend his daughter's birthday party
  • Then there’s the 3-4 Legal Weapons’ flicks
  • The bad guys are CIA trained
  • Next one had bad South African diplomats
  • So why did Mel Gibson participate in this sham
  • Ted Nugent said he got along well with other rock stars who were extremely left wing, even though he knew they were lunatics
  • and so they suddenly started weakening it and altering its path.

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A jobs report and auto strikes usher in a new quarter: What to know this week

Posted: 10/1/2023 By: news.google.com
  • Stocks just had their worst month of the year and the start of a new quarter won't bring much reprieve
  • The September jobs report highlights the week of economic data after a last minute deal saved the US from a government shutdown
  • On the earnings front, results from Constellation Brands (STZ) and Levi's (LEVI) will highlight a light week of quarterly reports
  • The September jobs report is expected to show 168,000 nonfarm payroll jobs were added to the US economy last month with unemployment dropping to 3.7%, according to data from Bloomberg
  • In August, the US economy added 187,000 jobs jobs while the unemployment rate rose unexpectedly
  • Auto companies are also expected to report quarterly deliveries during the upcoming week
  • Tesla (TSLA) is expected to report deliveries of 456,000, down from roughly 466,000 a quarter ago
  • He added: "What's really spooking the market isn't really the level of rates but it's more about the volatility of rates.

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A jobs report and auto strikes usher in a new quarter: What to know this week

Posted: 10/1/2023 By: finance.yahoo.com
  • Stocks just had their worst month of the year and the start of a new quarter won't bring much reprieve
  • The September jobs report highlights the week of economic data after a last minute deal saved the US from a government shutdown
  • On the earnings front, results from Constellation Brands (STZ) and Levi's (LEVI) will highlight a light week of quarterly reports
  • The September jobs report is expected to show 168,000 nonfarm payroll jobs were added to the US economy last month with unemployment dropping to 3.7%, according to data from Bloomberg
  • In August, the US economy added 187,000 jobs jobs while the unemployment rate rose unexpectedly
  • Auto companies are also expected to report quarterly deliveries during the upcoming week
  • Tesla (TSLA) is expected to report deliveries of 456,000, down from roughly 466,000 a quarter ago
  • He added: "What's really spooking the market isn't really the level of rates but it's more about the volatility of rates.

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War In Ukraine Poses 'Terrible Threat' For Russia's Saami People, But Solutions Are Few

Posted: 10/1/2023 By: www.rferl.org
  • He's remembered on the Russian social-media platform VKontakte as "a son, husband, father."
  • the full-scale invasion of Ukraine in February 2022, Lovozero, which is known as Russia's "Saami capital," had been losing residents for at least two decades
  • He eventually became a deputy platoon commander and took part in the war in Syria, according to acquaintances, who requested anonymity
  • Fishing, hunting, and seasonal tourism provide some relief, but unemployment stands at nearly double Russia's official rate of 3.3 percent
  • The mountain mass on which its district is located contains "unique reserves" of rare metals, according to local geologists
  • A second company, Arctic Lithium, has already begun pilot production at another lithium-deposit site, Polmostundrovskoye
  • A third, Fedorovo Resources, a Murmansk-region-backed firm, plans to invest over 60 billion rubles ($618 million) in palladium mining
  • Concerns about these ventures' long-term environmental impact -- like worries about the war -- exist, but are largely kept silent.

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RBI MPC, crude oil among top 10 factors to impact D-Street mood this week

Posted: 10/1/2023 By: economictimes.indiatimes.com
  • Indian frontline indices S&P BSE Sensex and Nifty50 ended the week on weak footing, dragged by concerns over rising crude oil prices and rising bond yields
  • US to publish S&P Global Manufacturing PMI data, Global Composite Services PMIs, US Trade and initial jobless claims data this week. & Services data and Composite PMIs
  • As for the Eurozone, global manufacturing PMI, unemployment, services PMI, retail sales and PPI data
  • Likely interventions from RBI helped avert the rupee's fall and helped the rupee rank among the best-performing major Asian currencies in September
  • Movement of dollar and crude oil will remain critical to the fortunes of the local stock markets, Gour added
  • November natural gas fell 2 cents to $2.93 per 1,000 cubic feet
  • Crude oil prices on Friday rose Rs 6 to Rs 7,629 per barrel in futures trade as participants increased their positions following a firm spot demand
  • On the Multi Commodity Exchange, crude oil for October delivery traded higher by Rs 6 or 0.08 per cent at Rs 7,629 per barrel in 7,571 lots.

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Here Is What Stops, And What Doesn't, When The Government Shuts Down This Weekend

Posted: 9/29/2023 By: biztoc.com
  • Here Is What Stops, And What Doesn't, When The Government Shuts Down This Weekend Last week we laid out what the economic consequences of a lengthy government shutdown would likely be, among them a drop in GDP and a spike in the unemployment rate perhaps sufficient to push the US economy into recession, not to mention a halt in most economic data reporting
  • but ahead…

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Here are the 12 stocks Jim Cramer is watching, including a dire consumer forecast

Posted: 9/28/2023 By: news.google.com
  • Unemployment rate at 18-month high, personal savings rate below 2019 levels
  • Online advertising tech company Trade Desk (TTD) started with a buy rating and a $100-per-share price target at UBS
  • Workday (WDAY) disaster
  • Investor Day details: targets annual subscription revenue growth 17% to 19% versus prior long-term target of 20%
  • Keeps neutral rating
  • Keeps outperform (buy) rating)
  • Keeps overweight (buy) rating
  • Keeps equal weight (hold) rating.

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Here are the 12 stocks Jim Cramer is watching, including a dire consumer forecast

Posted: 9/28/2023 By: www.cnbc.com
  • Unemployment rate at 18-month high, personal savings rate below 2019 levels
  • Online advertising tech company Trade Desk (TTD) started with a buy rating and a $100-per-share price target at UBS
  • Workday (WDAY) disaster
  • Investor Day details: targets annual subscription revenue growth 17% to 19% versus prior long-term target of 20%
  • Keeps neutral rating
  • Keeps outperform (buy) rating)
  • Keeps overweight (buy) rating
  • Keeps equal weight (hold) rating.

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S&P 500 Gains and Losses Today: Index Tumbles Following Fed Comments, Jobless Claims

Posted: 9/22/2023 By: www.investopedia.com
  • U.S. equities sank, with the S&P 500 falling 1.6% after the Federal Reserve said interest rates will likely have to stay higher for longer, and after a big decline in weekly unemployment claims
  • Bond yields skyrocketed, with the yield on the 10-year Treasury note soaring to the highest level since 2007.Home builder stocks dropped, with shares of D.R. Horton (DHI) losing 3.7% and PulteGroup (PHM) shares down 3.3%, amid worries higher borrowing costs could squeeze the market further, and following a report showing existing home sales tumbled to a seven-month low
  • Cisco Systems (CSCO) shares dipped almost 4% following the news that the networking equipment maker would buy cybersecurity firm Splunk (SPLK) for $28 billion
  • Splunk shares skyrocketed 21%.Raymond James Financial (RJF) shares dropped 4% as the financial firm indicated client assets under management (AUM) were 1% lower last month because of a decline in stock prices
  • FedEx (FDX) shares gained 4.5% after the package delivery giant posted better-than-expected earnings as it cut expenses and added customers from rivals UPS (UPS) and Yellow
  • Fox (FOXA) shares picked up 3% as founder and long-time chair Rupert Murdoch said he was stepping down from the top post at both Fox and News Corp (NWSA), giving full control to his son, Lachlan Murdoch
  • News Corp shares rose more than 1%.International Paper (IP) shares climbed 1% after Truist upgraded the stock and raised the stock price, citing a rebound in demand for container packaging.

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Markets Sink at Midday After Fed Comments, Drop in Weekly Jobless Claims

Posted: 9/21/2023 By: www.investopedia.com
  • U.S. equities tumbled and bond yields soared at midday following the Federal Reserve’s comments suggesting interest rates would likely remain higher for longer, and a drop in weekly unemployment claims
  • Shares of Pultegroup (PHM), D.R. Horton (DHI), and other homebuilders sank on higher borrowing costs, and as existing home sales fell to a seven-month low
  • Cisco Systems (CSCO) shares also declined after the networking equipment maker purchased cybersecurity company Splunk (SPLK) for $28 billion
  • Splunk shares soared
  • Raymond James Financial (RJF) shares slipped after the financial firm said client assets under management (AUM) declined 1% last month because of lower stock prices
  • News Corp shares rose as well
  • Oil futures rose, gold prices lost ground
  • Major cryptocurrencies traded down.

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Intrum : Non-performing loans – the legacy of crisis

Posted: 9/21/2023 By: www.marketscreener.com
  • Non-performing loans (NPLs) are loans where the borrower, whether an individual or a company, cannot meet their financial obligations
  • Since the global economic crisis of 2008-2009, NPLs have been a major headache for Europe's banks - especially in Greece, Italy and Spain
  • In the wake of the crisis, borrowers struggled to repay, and economic pressure increased unemployment and corporate bankruptcies
  • Since 2018, International Financial Reporting Standard (IFRS) 9 has specified how loans should be classified
  • Loans that are 30 days past due should be moved to stage two
  • Loans that are 90 days past due are moved to stage three and the estimated losses rise, increasing the capital provisioning needed
  • As well as doing this on an outsourced basis, we buy portfolios of non-performing loans, allowing banks to release them from their balance sheets
  • Our ethical approach means lenders can be confident their customers are supported and a sustainable payment plan is agreed upon.

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Further rate increases are still on the table, says BoC's Macklem

Posted: 9/8/2023 By: news.google.com
  • Bank of Canada governor Tiff Macklem is not ruling out further interest rate hikes given the likelihood of inflation staying elevated for a prolonged period
  • “Consumer price index inflation was 3.3% in July, roughly in line with what we expected in our July Monetary Policy Report,” Macklem said
  • [but] monetary policy still has work to do to restore price stability for Canadians, and we are committed to staying the course
  • “And recently global oil prices have risen again, pushing gasoline prices up
  • Despite avoiding a crash, signs indicate aggressive rate hikes by the Bank of Canada and the Federal Reserve are impacting economic strength.
  • “I want to be clear: we are committed to the 2% target, and for good reason,” Macklem said
  • “The 2% target has delivered low and stable inflation and lower unemployment rates on average for 25 years in Canada
  • “For many years now and in many countries, 2% inflation has worked to deliver historically superior macroeconomic performance.”

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NASDAQ 100, Dow Jones, S&P 500 News: Bracing for Rate Hikes as US-China Tensions Rattle Tech Stocks

Posted: 9/8/2023 By: news.google.com
  • Concerns became more pronounced as recent data displayed initial jobless claims standing at 216,000, notably lower than the 230,000 projected by Dow Jones’ economists
  • This sparked debate among investors, with many anticipating a 50% likelihood of a rate boost by the Federal Reserve in November
  • Conversely, RH, the home furnishing firm, saw its stocks slump by 8% due to weaker projections for the upcoming quarter
  • However, the tech sector was shaken as Apple’s shares nosedived 2.9%, following China’s decision to widen iPhone restrictions among state employees, potentially escalating the ban further
  • The U.S. Labor Department’s recent findings, indicating the lowest unemployment claims since February, brought a two-sided response
  • These sentiments were echoed by New York Fed President John Williams, emphasizing the necessity for data-driven decisions in the upcoming sessions
  • In terms of indices, on Thursday, the Dow Jones Industrial Average witnessed an uptick of 0.17%, while both S&P 500 and Nasdaq saw drops of 0.32% and 0.89% respectively
  • Given the current economic landscape, mixed signals from major corporations, the looming rate hike uncertainty, and the escalating U.S.-China tech feud, markets are poised for heightened volatility.

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Boosting SA Employment with Business Process Outsourcing (BPO)

Posted: 9/8/2023 By: news.google.com
  • One of South Africa’s pressing challenges is generating meaningful employment, particularly for its youth population
  • CCI, a leading player in the BPO sector, serves an international clientele across Africa
  • Its focus on growth, quality service, and long-term partnerships has positioned it as a top-tier BPO operator in South Africa
  • Additionally, CCI actively promotes gender diversity, with 67% female placement and 52% female leadership
  • The Business Process Outsourcing (BPO) industry stands as a promising avenue to address this need, offering opportunities to individuals from diverse educational backgrounds
  • The South African government recognizes the BPO industry’s potential to address unemployment and growth challenges
  • The company’s CEO, Peter Andrew, notes that CCI’s growth continues in 2023, with the launch of 12 new client campaigns across various industries
  • The BPO industry also emphasizes on-the-job training and mobility, offering young workers opportunities for skill development and empowerment.

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People Think UPS Drivers Are Overpaid, So This Driver Broke It Down For Them

Posted: 9/8/2023 By: news.google.com
  • Prices on basically everything have been going up, but for the average person, wages haven't risen accordingly
  • Plus, low unemployment rates mean that workers have more leverage in this moment to demand better conditions and better pay
  • But that's not the whole picture, and recently, 33-year-old UPS driver Skyler Stutzman went viral on TikTok for the way he explained what this deal actually means for drivers
  • "Speaking before the new contract was voted on, Skyler explained, "Under current contract, our wage is $41.51 an hour
  • "Skyler continued by explaining how the medical insurance and pension he receives as a driver add up to this total
  • "While others rightfully pointed out that delivering packages is so much harder than it looks (Most jobs are, TBH)
  • As someone who regularly lost my temper while doing much lighter food delivery shifts, yes, this absolutely checks out
  • Driving all day is tiring and can be dangerous at times, not to mention the heavy lifting involved in some UPS deliveries.

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