BREAKING: Jobs Up, Wages Flat
223K new jobs in April. NYT: "The American job market rebounded in April, the government said Friday, as employers added 223,000 positions and the unemployment rate decreased to 5.4 percent ..."
But austerity still holding us back, says OurFuture.org's Isaiah J. Poole: "Yes, the economy added 223,000 jobs in April, in line with consensus expectations from economists. Yes, the unemployment rate is down to 5.4 percent, a rate that has not been seen since May 2008. But a larger measure of unemployment that includes people who want to work but weren’t actively looking in the past month and people who are working part-time when they want full-time work is at 10.8 percent. Also telling is that wage growth in April was only at 0.1 percent, growing annually at 2.2 percent. Those are clear signs that considerable labor slack remains in the market."
Nike Tries To Boost TPP
In advance of Obama visit today, Nike says it will create US jobs if TPP passes. W. Post: "...Nike said reductions in footwear tariffs under the TPP would allow it to 'accelerate development of new advanced manufacturing methods and a domestic supply chain to support U.S. based manufacturing,' creating as many as 10,000 jobs. That would boost Nike's current domestic employment of about 26,000. But it would still be only a small fraction of its global workforce, estimated at over 1 million, with most in manufacturing jobs in low-wage countries such as Vietnam and Indonesia."
"Obama steps into sneaker war" reports Politico: "New Balance ... employs more than 1,350 of the few thousand workers who still make shoes in the United States, and its officials fear those jobs could be lost if tariff cuts under the deal lead to an influx of cheaper wares from Vietnam. Meanwhile, Nike is pushing to completely eliminate tariffs on shoes made in Vietnam, one of several Southeast Asian countries where it has operations. Those duties amount to hundreds of millions of dollars, the industry estimates."
Fast track vote set for Tuesday. Politico: "...most of the expected swing Democratic votes wouldn’t say which way they were leaning ... Another hurdle is Democrats’ push to get assurances that the majority will take up the entire package of trade bills from the Senate Finance Committee ... As of Thursday afternoon, no such assurances have been given."
Rep. Sandy Levin says Obama doesn't have the votes in the House. The Hill: "Levin, the top Democrat on the House Ways and Means Committee, said Obama’s call for trade promotion authority (TPA) to pave the way for passage of a sweeping Asia-Pacific agreement is falling flat with his own party..."
"Can Elizabeth Warren Kill President Obama’s Trade Deal?" asks Time: "In a letter to supporters Thursday afternoon, Warren decried a sub-chapter in the Obama administration’s proposed trade deal, the Trans-Pacific Partnership, that would allow companies to sue foreign countries through an extra-judicial tribunal made up of three for-profit arbitrators ..."
Warren, De Blasio Lay Out Populist Agenda
Sen. Warren and Mayor de Blasio pen joint W. Post oped "How to revive the American Dream": "Strengthening the American Dream is about the basics ... Make work pay by increasing the minimum wage, empowering unions to bargain collectively, ending abusive scheduling practices for hourly workers ... End the squeeze on working parents by passing a paid family leave requirement and investing in child care, after-school programs and extended learning days..."
Warren takes on auto lenders. The Hill: "Sen. Elizabeth Warren is drafting legislation that would give regulators more authority to go after auto dealers, picking a fight with the powerful industry, congressional Republicans and even some within her own party."
