Today at the Trans-Atlantic Agenda for Shared Prosperity conference held at the AFL-CIO, Janet Yellen, vice chair of the Board of Governors of the Federal Reserve, talked about the reasons why the recent economic downturn has been painful particularly for America's workers and what the Federal Reserve's role is in reaching maximum employment.The problem with the economy is the lack of demand and current fiscal policy is not helping. Yellen said the Federal Reserve is committed to action that will create jobs and produce economic growth.
In just a few weeks, the nation will be facing yet another manufactured fiscal crisis when a series of harsh across-the-board federal spending cuts in education, defense and all government operations go into effect unless Congress repeals them.
Known as “sequestration,” economists say these cuts would imperil the fragile economic recovery and cost as many as 1 million of America's workers their jobs. Yet Republicans are making threats to let those cuts take effect on March 1 unless Social Security, Medicaid and Medicare benefits are cut or drastic cuts are made to vital services.
It’s time for Southwest Airlines to share the “LUV,” and that’s the message the airline’s ground workers in contract negotiations with the airline will deliver to Southwest management Wednesday on “LUV” Day.
Members of Transport Workers (TWU) Local 555, representing Southwest’s 9,000 ground workers, will be joined by TWU Local 556 members, representing Southwest’s 11,000 flight attendants, to deliver special Valentine’s Day cards wishing executives a happy “LUV Day,” with a message about serving customers, ensuring a solid future, negotiating fair contracts and keeping the “LUV” alive.
On Tuesday, President Obama will give the first State of the Union Address of his second term in office and working families are happy to hear the focus will be jobs and the economy. This year’s address comes after an election in which America’s families made a clear choice between very different visions for the country.
Across the country, working people will be watching and listening with great interest for the president to maintain the values and priorities on which they elected him, including a commitment to creating middle-class jobs, asking the wealthiest 2% to pay their fair share and protecting Social Security, Medicare and Medicaid from benefit cuts.
PKC [a Finnish auto-parts supplier] sacked more than 100 union supporters, including the entire union committee in December 2012 for campaigning for the election of an independent trade union, the National Union of Mine and Metalworkers (known as “Los Mineros”), at their plants in Ciudad Acuña, Mexico.
In 2008, with the global financial crisis at its peak and the world teetering on the brink of a second Great Depression, world leaders and policymakers took decisive fiscal and monetary policy actions that bolstered our economies and stopped our financial system from spiraling into chaos and dragging our economies into depression.
But today, AFL-CIO President Richard Trumka told the “Trans-Atlantic Agenda for Shared Prosperity” economic summit:
Our work is far from done, and no progress has been easy. We have had to battle those who wanted to block the fiscal stimulus, which was so critical for halting our economic slide. And we are still battling those same opponents who now want to impose strict fiscal austerity that threatens to sabotage our economy and trigger a new recession, as those same policies have in Europe.
A new report from the U.S. Public Interest Research Group (PIRG) reveals that state governments lost $39.8 billion in revenues because corporations and wealthy individuals are using offshore tax havens to avoid paying their statutory tax rates. We've seen the devastating effects that offshoring jobs have had on America's workers, and offshoring has long been talked about in terms of lost federal revenue, where $150 billion a year goes unpaid, but little focus has been given to state losses from the practice.