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The article discusses how Nobel laureates in economics and other disciplines have expressed support for Vice President Kamala Harris and her policy agenda, contrasting it with President Trump's policies. The economists emphasize the importance of evidence-based policy-making and call for quantitative analysis of the potential economic impacts of the Biden-Harris agenda. They predict a potential decrease in per capita income under the Biden-Harris policies due to factors like redistribution elements and regulations. The authors, Kevin Hassett and Casey B. Mulligan, highlight the need for rigorous scientific debate and analysis in evaluating economic policies. [Extracted from the article]

The article discusses the failure of protectionist policies, particularly tariffs, implemented by Robert Lighthizer in 2018. The data presented shows that these policies did not lead to economic growth as promised, with manufacturing employment declining and the trade deficit not improving. The authors argue that economic freedom, not protective tariffs, was the key to the economic success of the 19th century and could lead to prosperity in the 21st century if given a chance. [Extracted from the article]

The International Longshoremen's Association (ILA) has reached a tentative agreement for a 62% pay raise over six years, but the labor dispute continues over the union's demand to ban automation at American ports. The ILA opposes any technological advances that would increase efficiency and reduce the number of workers needed. However, this stance is unsustainable in a competitive global economy, as other countries are investing in automation and becoming more productive. The lack of automation at American ports is reflected in the Container Port Performance Index, where no American port ranks in the top 50. The article suggests that the union should negotiate better buyout packages for senior workers and embrace technological advancements for the long-term benefit of its members and the economy. [Extracted from the article]

Boeing, once a ticket to a middle-class life for blue-collar workers, no longer provides the same opportunities for its employees. The average machinist at Boeing makes around $75,000, which is not enough to keep up with the rising cost of living in the Pacific Northwest. This has led to a strike by 33,000 members of Boeing's largest union, who are demanding higher wages. The decline in manufacturing jobs and the rising cost of housing, education, and other expenses have made it difficult for workers to maintain their standard of living. The Merwin family, who have worked at Boeing for three generations, are considering moving to Utah where the cost of living is lower. The article highlights the challenges faced by manufacturing workers and the need for companies like Boeing to provide better opportunities for their employees. [Extracted from the article]

Boeing is furloughing white-collar workers in an effort to cut costs and avoid a credit-rating cut during a strike by its largest union. The furloughs will last one week out of every four weeks for the duration of the strike. The strike, which has halted production of the 737 and other jets, could cost the company around $500 million per week. Credit-rating firms have warned that they may downgrade Boeing if the strike continues. CEO Kelly Ortberg and his executive team will take a 25% pay cut for the duration of the strike. The company has also implemented other cost-cutting measures, such as freezing hiring and pay increases. A union representing Boeing engineers has stated that their contract prohibits furloughs and requires company payouts to idled workers in the case of layoffs. The union has not been approached by the company to discuss furloughs or layoffs. The strike was initiated by the machinists union after rejecting a labor deal that did not meet their demands for wage increases and retirement benefits. The company and union have restarted negotiations with the help of a federal mediator. [Extracted from the article]

Vice President Kamala Harris has proposed raising the federal minimum wage, which has remained at $7.25 an hour since 2009. The argument for a higher minimum wage is based on the belief that in a wealthy country like the U.S., no one should work for such a low wage. Recent polling shows that a majority of both Democrats and Republicans agree that $7.25 an hour is insufficient to support a decent quality of life. Economists have found that modest minimum wage increases do not result in significant job losses, contrary to previous beliefs. Raising the minimum wage is seen as a way to reduce income inequalities and improve workers' wages. The cost of living has increased significantly since the last minimum wage increase, and many states have already set higher minimum wages than the federal level. There is bipartisan support for raising the federal minimum wage, and it is seen as a morally and socially right thing to do that would have more economic benefits than drawbacks. [Extracted from the article]

According to research from the Strada Education Foundation, graduates from public universities charging in-state tuition can make their investment worth it if they earn at least $50,000 a year in their first decade after graduation. This research comes at a time when many Americans are questioning the value of a college degree. Public universities are often a more affordable option compared to private universities and can still provide a path to financial security. However, the return on investment varies depending on factors such as access to internships, career coaching, and job markets. [Extracted from the article]

Gavin Newsom, the governor of California, is a vocal supporter of President Joe Biden and his economic policies. However, California's current state serves as a reminder of the issues with these policies. The state has a high unemployment rate and has seen a significant number of residents leave. Newsom has also increased the minimum wage for fast-food workers, leading to higher food prices and potential job losses. Additionally, California faces challenges such as high gasoline prices, retail store closures due to crime, and an increase in illegal border crossings. These issues may impact voters' opinions and potentially benefit former President Donald Trump in the upcoming election. [Extracted from the article]

The IT job market in the United States is expected to shrink by 20,000 to 30,000 jobs in 2024 due to the increasing automation of tech jobs through artificial intelligence (AI). Job seekers in the tech industry are facing lower salaries and fewer opportunities if they do not possess AI skills. Layoffs in the tech sector have been ongoing, and there is a mismatch between the skills that recently laid-off workers have and the salaries they expect. Jobs in areas like telecommunications and entry-level IT have declined, while roles in cybersecurity, AI, and data science continue to rise. The average total compensation for IT workers is around $100,000, making it a target for cost-cutting. The combination of AI skills shortages and salary expectations will likely result in fewer IT jobs being created in 2024. Jobs that are already being replaced by automation and AI, particularly in entry-level IT services and data-center operations, are not expected to return. Salaries for software developers have declined, and job postings for coding jobs have fallen significantly. Generative AI skills are in high demand and command the highest salaries, with an average salary potential of $174,727. Jobs related to generative AI have grown significantly, and AI job listings overall have increased following the release of ChatGPT. It is believed that the shift towards AI in corporate resources will continue, putting job seekers without AI knowledge at a disadvantage unless they acquire those skills. [Extracted from the article]

BP has clawed back an additional $2.3 million from former CEO Bernard Looney's remuneration package following his dismissal in December. This brings the total amount recovered from Looney to $40.6 million due to what BP called serious misconduct. Looney had failed to disclose past relationships with colleagues, and BP determined that the information he provided was inaccurate and incomplete. The current CEO, Murray Auchincloss, received a remuneration of $8.0 million for 2023. [Extracted from the article]

Democrats have criticized Federal Reserve Chairman Jerome Powell ahead of the Fed's policy meeting, expressing concerns about sustained high interest rates impacting home buyers and housing-related industries. They also accuse the Fed of suppressing wages and failing to address the root cause of inflation. While some may dismiss these complaints as electioneering, it highlights a deeper issue with the Fed's inherently political decisions and lack of democratic accountability. The Fed's self-image as a competent technocracy clashes with the political nature of its decisions, such as defining stable prices and implementing its mandate. Despite disagreements on policy solutions, the senators raise valid concerns about the Fed's decision-making process and the need for democratic accountability. [Extracted from the article]

This article discusses the issue of rats damaging cars and offers various remedies that car owners have tried to prevent rodent invasions. The article includes anecdotes from car owners who have experienced damage caused by rats and shares their strategies for deterring rodents. It also mentions the insurance industry's estimate of car-damage claims caused by rodents. The article concludes by highlighting the ongoing challenge of preventing rat invasions and the need for car owners to remain vigilant. [Extracted from the article]

According to data from job-listing site Indeed, total job postings at the end of 2023 declined by over 15% compared to the previous year. However, job postings are still up by more than a quarter from their levels before the pandemic. The hiring frenzy and worker shortages that characterized the earlier stages of the pandemic recovery are fading, even though unemployment remains low. Economists are hopeful for a "soft landing" for the U.S. economy. Sectors such as nursing, child care, food service, and bars saw strong hiring in 2023, while demand for workers in other sectors slowed. Wage gains at the lower end of the pay scale have been faster due to persistent demand for in-person workers, but a slower economy and consumer belt-tightening could dampen these gains in 2024. The rate of workers quitting their jobs has declined, indicating less certainty about the labor market or greater satisfaction with current roles. Federal Reserve Chair Jerome Powell stated that the labor market has come back into balance, with indicators such as job openings, labor-force participation rates, and the quits rate showing improvement. Layoffs have remained low, and employers are holding on to workers. However, continuing unemployment claims have risen, suggesting that some individuals are struggling to find new jobs quickly. [Extracted from the article]

Many low-paid workers in the United States may not notice the increase in minimum wages in 22 states because they are already earning higher wages due to labor shortages. Before the pandemic, raising the minimum wage was often a welcome raise for low-wage workers, but recent labor shortages caused wages to rise faster than required by states. The federal minimum wage has remained unchanged at $7.25 an hour since 2009. Despite the increase in minimum wages, most low-wage workers are already earning well above those minimums. The gap between actual pay and minimum pay is the largest in a decade. Some argue that the market can set fair wages without government intervention, while others believe that pay floors need regular increases. Unions and worker advocates are pushing for further increases in minimum wages, with some aiming to double the former Fight for $15 goal. [Extracted from the article]

Delta Air Lines plans to hire approximately half as many pilots in 2024 as it did in 2023, signaling a slowdown in the pilot hiring spree that has been ongoing for over two years. Major carriers, including Delta, have been hiring pilots at a record pace to meet the increased travel demand following the Covid-19 pandemic. Delta's hiring target for next year is still higher than in a typical year, but the company stated that it represents a more normalized growth pattern after two years of exceptionally strong hiring. The pilot shortage in the industry may be easing as higher pay rates attract newcomers and some corners of the market experience an excess supply of aviators. [Extracted from the article]

The Financial Accounting Standards Board (FASB) plans to advance projects in three key areas in 2024: accounting for software costs, environmental credits, and disclosure of income-statement expenses. These projects aim to provide investors with new financial insights. The FASB will also seek input from investors and stakeholders to determine which issues to prioritize. The board is considering new rules that would require businesses to disclose inventory expenses and employee compensation in their financial statements. Additionally, the FASB is exploring updates to how companies account for and disclose software costs, as well as proposing specific rules for accounting environmental credits. The FASB is making efforts to improve information for investors and address important issues related to intangible assets. [Extracted from the article]

The NBA's In-Season Tournament will award every player on the winning team a $500,000 bonus, which represents a significant pay increase for players at the bottom of the roster. For example, rookie forward Maxwell Lewis of the Los Angeles Lakers, who has played minimal minutes and has yet to score a point, stands to receive a nearly 50% raise if his team wins. While $500,000 may be pocket change for NBA stars, it can be life-changing for players like Lewis who earn the league's minimum salary. The tournament highlights the widening pay disparities between top players and entry-level employees in the NBA. [Extracted from the article]

Vice President Kamala Harris's recent interview with Andrew Ross Sorkin highlighted the Biden administration's struggle to effectively communicate its achievements to the American people. Harris made several claims that were factually inaccurate, including stating that there was record unemployment when the unemployment rate was actually the highest since January 2022. She also claimed that wage growth had outpaced inflation, which was contradicted by data from the Kansas City Federal Reserve and the Bureau of Labor Statistics. Additionally, Harris's efforts to address the root causes of illegal immigration have not been successful, as illegal border crossings have increased under the Biden-Harris administration. Overall, the interview revealed the administration's difficulty in making a compelling case to voters. [Extracted from the article]

According to an op-ed in the Wall Street Journal, the author is perplexed by Alan Blinder's lack of understanding regarding public dissatisfaction with the economy under President Biden. The author argues that the average standard of living for earners has decreased since Biden took office, with average weekly earnings rising by 11% while the consumer-price index increased by 18% between January 2021 and September 2023. The author suggests that people's wallets and their ability to purchase goods should be the focus when evaluating the economy. The op-ed recommends that Blinder pay attention to these factors. [Extracted from the article]

The article discusses the United Auto Workers (UAW) union's focus on "corporate greed" and its growing membership among academic workers at public and nonprofit universities. The UAW has been successful in recruiting graduate student employees who earn significantly less than auto workers. These academic workers are demanding higher pay for their teaching and research work, which is often done for tenured professors who earn more and work less. The article compares the wages and benefits of auto workers to those of graduate student workers, highlighting the differences in pay and the financial struggles faced by graduate students. It also mentions the oversupply of Ph.D.s in academia and the lack of job opportunities and fair pay for these graduates. The article suggests that the UAW's focus on academic workers may be misguided, as colleges have the ability to raise tuition and rely on federal student loans, while auto makers face financial risks. The article concludes by suggesting that the UAW should focus on addressing rising prices in higher education and administrative bloat, rather than targeting auto makers. [Extracted from the article]