WHAT YOU NEED TO KNOW
- Weekly jobless claims climbed again in the last week to 362,000, indicating sluggish hiring in the labor market. While many employers are desperate to hire more workers and hang onto the ones they still have, some fear that vaccine mandates could worsen the worker crunch. Oil executives say they are bracing for even more rapid turnover in field-level employees who are skeptical of vaccination. While up to half of unvaccinated workers have said in some surveys that they would leave their jobs if forced to get vaccinated, new research found that a much smaller fraction of workers follow through with leaving their jobs when mandates are in place.
- AT&T to require COVID vaccines for 90,000 of its union workers – MarketWatch
- Failure to get vaccinated could cost NBA players paychecks – Yahoo Sports
- The rate of COVID-19 deaths is projected to decrease over the next four weeks, marking a reversal in the number of cases for the first time since June. About 55% of the entire U.S. population is now fully vaccinated, with health officials employing multiple strategies to boost protection. Los Angeles officials indicated they plan to vote next week on one of the most strict measures in the country that would require proof of vaccination to enter most businesses.
- The U.S. Senate reached a funding deal on Wednesday that will avoid a government shutdown, but pressure to increase the federal debt limit and avoid a government default are intensifying . Republicans said they will reject legislation in the Senate to increase or suspend the debt limit, which they hope to tie to Democrats’ massive social spending legislation.
- Fed Chair Powell calls inflation ‘frustrating’ and sees it running into next year – CNBC
- Citigroup Finds Most Clients Are Braced For ‘Sticky’ Inflation – Financial Advisor Magazine
- Democrats divided: Progressives, centrists say trust is gone – Associated Press
- @WestWingReport : Forecast if U.S. – for the first time in its history – defaults on its debt: -six million jobs erased -stock market crash -$15 trillion in household wealth wiped out -unemployment hits 9% (via Moody’s Analytics)
- Paint is the latest material to be added to the list of shortages across the U.S., driven by raw material constraints and price inflations. Companies continue to warn of the dual challenge ahead this holiday season, in which a shortage of labor workers could compound supply constraints.
- Consumers expected to pay up for holiday shopping – Axios
- How global supply chains are falling out of fashion – Reuters
- The world’s top central bankers see supply chain problems prolonging inflation. – The New York Times
- @joncoopertweets : The workers who keep global supply chains moving are warning of a ‘system collapse’
- Aladdin on Broadway was canceled on Thursday just one day after reopening due to breakthrough coronavirus cases, underscoring the struggles of the performing arts amid outbreaks. While Aladdin was the first and only confirmed cancelation for a reopened Broadway production since June, singers and other performing artists have announced a string of cancellations due to coronavirus detections.
“U.S. Debt-Limit Showdown Intensifies With Democrats Under Pressure” – Bloomberg / Source: Bloomberg
- Turbine Labs has tracked 23,074 media articles and blogs and 14,712 social media posts over the last 24 hours.
- Questions or feedback? Don’t hesitate to reach out to us directly.
Interested in getting the Future of Work direct to your inbox? Sign up here.