Three Adjustments to Make for the DOL Overtime Rule
The U.S. Department of Labor's new overtime rule went into effect July 1 raising the minimum salary threshold for overtime from $35,568 to $43,888. Almost every workplace should be prepared with needed adjustments, but there are still a few actions HR should undertake if they haven’t to protect their organizations, Victoria Lipnic, partner at Resolution Economics and former EEOC commissioner, and Jonathan Segal, partner at Duane Morris LLP, said at a panel on June 24 at the Society for Human Resource Management’s annual conference. READ MORE.
Supply Chain Trends 2024: Rising Operations Costs
Rising costs were a top challenge for manufacturers in 2023 — and this year looks to be no different. Inflation caused prices to spike for not only materials, but wages and energy. And while inflation has cooled in recent months and prices have started to stabilize, the issue of how to mitigate high costs remains a key priority for companies at the start of the year.
This balance has been difficult for manufacturers, as low demand remained a consistent drag on the industry and has caused more companies to cut both supply and labor costs and lower production. Read More.
What the Supreme Court’s Chevron reversal could mean for PFAS and labor regulations
The U.S. Supreme Court’s decision to reverse the “Chevron doctrine” has raised questions about how the move could affect federal statutes relevant to the waste and recycling industry, particularly those under the U.S. EPA and Department of Labor.
The Chevron doctrine, decided in a 1984 U.S. Supreme Court decision, Chevron U.S.A. v. Natural Resources Defense Council, determined that in cases where a federal statute is ambiguous, courts should defer to agency interpretations of such statutes as long as it’s a “reasonable” interpretation.
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Manufacturing enters ‘deeper slowdown period’ ahead of election: July PMI
The manufacturing industry sunk deeper into economic contraction last month, weighed down by political uncertainty and unwaveringly high interest rates, according to July purchasing manager indices. The Institute for Supply Management’s July PMI came in at 46.8%, down 1.7 percentage points from June as demand continues to slow. The new orders index dropped nearly 2 percentage points to 47.4%, pushing production down as well to 45.9%, as companies slowed output in response to stalled demand. A reading below 50.0% on a PMI index signals economic contraction.
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Election Year Uncertainty Clouds 2024 Supply Chain Outlook
U.S. President Joe Biden’s departure from the 2024 presidential race has sparked further uncertainty in companies’ demand forecasts amid an underwhelming year for manufacturers, experts said during an Industry Dive virtual event on Wednesday.
Recent polling suggests a close election race between Republican presidential nominee Donald Trump and presumed Democratic nominee Vice President Kamala Harris, said Jason Miller, a professor of supply chain management at Michigan State University. That makes it less clear which broad policy portfolio supply chain and manufacturing executives will have to contend with in 2025.
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