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Labor and Employment

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Home Depot Inc said on Tuesday it will spend about $1 billion more on employees' wages annually as the home improvement chain benefits from a sustained surge in demand for tools and building materials due to the COVID-19 pandemic.

Home Depot's blue-chip stock, up 28% this year, fell 2.5% in early trading, despite the company beating quarterly sales and profit estimates.

Demand for home improvement produ...


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Australia's Qantas Airways Ltd, the world's third-oldest airline, on Monday marked its 100th birthday during its toughest year yet due to the coronavirus pandemic but is looking to the future with optimism, its chief executive said.

“Qantas every decade has literally reinvented itself,” Chief Executive Alan Joyce said in a recorded message. “That is why it has survived as long as it has.”

The airline, founded in Australia's outback as Queensland and Northern Territory Aerial Services Ltd (Qantas) in 1920, is the world's third-oldest operating carrier behind Dutch airline KLM and Colombia's Avianca Holdings SA.


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The number of people seeking U.S. unemployment benefits fell last week to 709,000, a still-high level but the lowest figure since March and a further sign that the job market might be slowly healing.

Yet the improvement will be put at risk by the sharp resurgence in confirmed viral infections to an all-time high well above 120,000 a day. Cases are rising in 49 states, and deaths are increasing in 39. The nation has now recorded 240,000 virus-related deaths and 10.3 million confirmed infections.


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Ford Motor Co said on Tuesday it plans to hire 350 more U.S. workers to expand production capacity for its electric F-150 pickup truck in Michigan and add assembly of electric commercial vans at a plant near Kansas City, Missouri.

The company said it also will add a second vehicle at the Mexican factory that is already set to build the Mustang Mach-E electric sport utility vehicle. Ford did not disclose how many people would be hired to build the additional vehicle in Mexico, which would “share a similar electrified platform” as the Mach-E.


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Wall Street took a breather Friday after a blistering rally that gave the market its biggest weekly gain since April and indicated investors see plenty of benefits from more gridlock in Washington.

The S&P 500 inched down 1.01 point, or less than 0.1%, to 3,509.44, leaving its blockbuster gain for the week at 7.3%. The wild week was dominated by an election that, as of Friday afternoon, had yet to definitively show who the U.S. president would be next year or which party would control the next Congress.


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U.S. employers added 638,000 jobs in October, a solid pace though far fewer than needed to regain most of the jobs lost to the pandemic recession just as new viral cases are setting record highs.

The gain suggested that a tentative economic recovery may remain intact even in the face of a surging viral outbreak.

The report Friday from the Labor Department said the unemployment rate fell to 6.9% from 7.9% in September. But eight months after the virus struck the United States, the economy still has recovered barely half the 22 million jobs that were lost to the pandemic.


Reuters | Equities.com |

WASHINGTON (Reuters) - U.S. private payrolls increased less than expected in October and activity in the services industry cooled, providing early signs of a slowdown in economic growth as fiscal stimulus diminishes and new COVID-19 infections surge across the country.

The recovery from the coronavirus pandemic could also be impacted over the next few months by political uncertainty following Tuesday’s cliffhanger presidential election, which economists warned could cause businesses to be more cautious about spending decisions.


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(Reuters) - Uber and Lyft stocks soared on Wednesday after California voters endorsed the gig economy’s blistering campaign not to count drivers as employees, even as questions loomed over whether the companies can secure similar privileges in other U.S. states.

Voters in California on Tuesday backed a ballot proposal by Uber Technologies Inc, Lyft Inc and their allies that cements app-based food delivery and ride-hailing drivers’ status as independent contractors, rather than employees.


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Pilots with Dutch national airline KLM agreed Tuesday to accept pay cuts for as long as the carrier needs a multibillion euro government coronavirus bailout, the pilots union and KLM announced.

The decision clears the way for the government to agree to free up the next instalment of a 3.4 billion-euro ($3.96 billion) lifeline to help KLM survive the sharp downturn in air travel amid the pandemic. The package is made up of a 1 billion-euro loan and 2.4 billion euros in guarantees for bank loans.


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As the coronavirus pandemic surges across the nation and infections and hospitalizations rise, medical administrators are scrambling to find enough nursing help — especially in rural areas and at small hospitals.

Nurses are being trained to provide care in fields where they have limited experience. Hospitals are scaling back services to ensure enough staff to handle critically ill patients. And health systems are turning to short-term travel nurses to help fill the gaps.