wage and pension — Main Street Independent

Tripling union membership would raise median worker pay 14.5%, report says

Tripling union membership in the United States would deliver a 14.5% raise to the median worker and shift $1.2tn annually to workers, according to a report released Wednesday by the Economic Policy Institute. The report projects that…

2026-07-15 · 4 MIN READ

Bipartisan bill aims to shore up Social Security

A bipartisan group of senators introduced the PROMISE Act on Tuesday, a bill aimed at shoring up Social Security's finances as the program's retirement trust fund faces a projected funding shortfall in 2032, according to the latest…

2026-07-14 · 3 MIN READ

Costco cashier with $33 hourly wage amasses $1 million in 401(k)

Tony Barzar, a 60-year-old Costco cashier in Tucson, Arizona, earns $32.90 an hour and has accumulated over $1 million in his 401(k) retirement account since starting at the retailer in 1986, the Wall Street Journal reported Wednesday.…

2026-07-08 · 4 MIN READ

U.S. labor force faces historic contraction as demographic pressure raises the stakes for AI adoption

Labor Force Participation Rate: falling from 62.90 to 61.50 (2015-01-01 to 2026-06-01).

The U.S. labor force is projected to expand by just 9.1 million people over the decade ending 2030 and then contract by 2.1 million in the following decade, a shift that demographer Steven Ruggles said could reshape the economy and…

2026-07-13 · 3 MIN READ

Electric truck startup Windrose faces unpaid wages, federal suit, missing $285,000 rig

Windrose Technology, a Chinese-owned electric big rig startup that raised $400 million and pledged to challenge Tesla's Semi, faces a federal lawsuit, a Michigan labor-regulator order, and a missing $285,000 truck, the Wall Street Journal…

2026-07-06 · 4 MIN READ

S&P 500 CEO pay reaches new high in 2025, nearly a dozen top $200 million

Median pay for chief executives of S&P 500 companies reached a new high in 2025, while nearly a dozen CEOs earned more than $200 million, according to The Wall Street Journal's annual CEO pay ranking. The analysis, based on data from…

2026-06-27 · 4 MIN READ

Welltower CFO's $167 Million Pay Package Sets New Record

Welltower CFO Tim McHugh received a $167 million pay package in 2025, making him the highest-paid finance chief among major U.S. companies, according to a Wall Street Journal Leadership Institute analysis of data from public-company data…

2026-06-23 · 4 MIN READ

More US CEOs top $100 million pay in 2025, report says

More U.S. CEOs crossed the $100 million pay threshold last year than in any year since 2021, according to the Wall Street Journal's annual CEO pay ranking. Elon Musk's $158 billion pay package from Tesla set a new record, and nearly a…

2026-06-23 · 4 MIN READ

D.C. voters test ranked-choice voting; Oklahoma decides minimum wage hike

Voters in the District of Columbia and Oklahoma headed to the polls Tuesday for primary elections, with D.C. using ranked-choice voting for the first time and Oklahomans deciding whether to raise the state's minimum wage to $15 per hour by…

2026-06-16 · 3 MIN READ

Bank of England expected to hold key rate at 3.75% as U.K. economy weakens

The Bank of England is expected to leave its key interest rate unchanged at 3.75% when its Monetary Policy Committee concludes its meeting Thursday, a decision that would align it with the Federal Reserve but mark a divergence from the…

2026-06-15 · 4 MIN READ

U.S. unemployment holds at 4.2% in June; quits and wage growth signal cooling

The Bureau of Labor Statistics reported the U.S. unemployment rate at 4.2 percent for June 2026, near recent readings.
The U-6 broader underemployment measure fell to 7.9 percent in June, down from 8.2 percent in May, according to BLS data.
The Atlanta Fed Wage Growth Tracker recorded 3.5 percent median 12-month wage growth for continuously employed workers, below readings seen at the 2022–2023 peak.
JOLTS data showed total nonfarm quits at 3,065,000 in June, a worker-bargaining-power signal consistent with a labor market that has cooled from its tight 2022 state.

2026-07-03 · 4 MIN READ

Reform UK proposes tax on companies that hire foreign workers

Reform UK has announced a policy that would tax companies for hiring foreign workers while reducing National Insurance contributions for their British staff, a proposal the party says would put "British workers first, migrant workers…

2026-06-15 · 4 MIN READ

UAW Reaches Tentative Deal to End Strike at GM Truck Supplier

Unionized workers at a Michigan plant that supplies axles for General Motors’ heavy-duty pickup trucks have reached a tentative labor agreement with Dauch Corp., ending a 10-day strike. The deal requires ratification by roughly 970 hourly…

2026-06-11 · 3 MIN READ

IMF warns Costa Rica on pension reserves, security risks in favorable review

Costa Rica received a broadly favorable economic review from the International Monetary Fund on Tuesday, but the IMF’s 2026 Article IV report also warned that the country faces urgent risks from an aging population, rising crime, and the…

2026-06-09 · 4 MIN READ

U.S. private payrolls add 98,000 in June, missing forecasts

U.S. private employers added 98,000 workers in June, missing economists’ expectations and extending a slowdown from the prior month, payroll processor ADP reported Wednesday. The reading fell below the Dow Jones consensus forecast of…

2026-07-01 · 3 MIN READ

Economists offer competing visions to reduce U.S. income inequality

U.S. income inequality has widened significantly over the past five decades, with households at the 90th percentile earning 12.6 times as much as those at the 10th percentile in 2024, up from 8.7 times in 1976, according to Census Bureau…

2026-06-04 · 3 MIN READ

Illustration accompanying article: U.S. private payrolls add 98,000 in June, missing forecasts

Samsung union puts off strike after last-minute wage deal with management

Samsung Electronics’ labor union said it will hold off on a planned strike after a last-minute wage deal with management was reached through government-mediated negotiations in South Korea. Union leader Choi Seung-ho said members will vote…

2026-05-20 · 3 MIN READ

MSU trustees pass updated ethics policy as salary debate intensifies

Michigan State University trustees must sign an updated board ethics policy by this weekend after approving the changes 5-3 during a special Sunday night meeting. The new policy outlines fiduciary duties, prohibits undermining board…

2026-05-19 · 3 MIN READ

Deal reached to end Long Island Rail Road strike, no fare hikes

Negotiators on Monday reached a tentative agreement to end the strike that shut down the Long Island Rail Road, North America's busiest commuter rail system, according to New York Gov. Kathy Hochul.

2026-05-19 · 3 MIN READ

BEA reports 0.3% May rise in real disposable personal income

The Bureau of Economic Analysis reported Tuesday that real disposable personal income rose 0.3 percent in May 2026, the latest figure in the agency's monthly Personal Income and Outlays release. The release, paired with an update from the…

2026-06-30 · 5 MIN READ

Social Security trust fund depletion looms as payroll taxes fall short

Social Security’s finances are deteriorating more quickly than many Americans realize, with the program’s primary trust fund now shrinking by hundreds of billions of dollars annually and a projected depletion date in the fourth quarter of…

2026-06-17 · 4 MIN READ

Samsung union puts off strike after reaching tentative wage deal

Samsung Electronics' labor union on Wednesday said it will hold off on launching a planned strike and put a tentative wage deal with management to a vote, easing immediate concerns about potential disruptions at the world's largest memory…

2026-05-19 · 3 MIN READ

United flight attendants ratify contract with 31% pay hike, boarding pay

United Airlines flight attendants ratified a new five-year labor contract on Tuesday, securing an average 31% pay increase this summer and boarding pay for the first time at the carrier, the Association of Flight Attendants said.

2026-05-14 · 3 MIN READ

United flight attendants ratify 5-year contract with boarding pay, retro pay

United flight attendants ratified a new five-year labor contract on Tuesday that will provide their first pay increases in six years, along with boarding pay, the union said. The agreement covers nearly 30,000 flight attendants at United…

2026-05-14 · 3 MIN READ

Lower-income households absorb higher effective inflation as CPI rises 4.2% in May

WASHINGTON — Consumer prices rose 0.5 percent in May on a seasonally adjusted basis, the Bureau of Labor Statistics reported Wednesday, pushing the year-over-year rate to 4.2 percent, the highest since April 2023. But the headline figure…

2026-06-11 · 5 MIN READ

Firefighting union leader Bob Brooks targets Pennsylvania House seat in November toss-up

Bob Brooks, a former firefighter who led the Pennsylvania Professional Fire Fighters Association, handily won the Democratic nomination for Pennsylvania's 7th Congressional District last month and will face Republican incumbent Ryan…

2026-06-08 · 3 MIN READ

U.S. adds 172,000 jobs in May; broader underemployment holds at 8.2%

The U.S. economy added 172,000 jobs in May, the Bureau of Labor Statistics reported Friday, as hiring in leisure and hospitality surged to more than four times the sector’s recent average. The headline unemployment rate was unchanged at…

2026-06-05 · 4 MIN READ

May Day rallies worldwide demand peace, wages amid rising costs

Activists and labor unions held May Day rallies and street protests across multiple continents on Friday, linking demands for peace and higher wages to rising energy and other costs tied to the Iran war. In Europe, many demonstrators…

2026-05-02 · 3 MIN READ

NYC building workers avert strike with tentative contract deal

Union leaders representing nearly 34,000 New York City apartment building workers announced Friday that they had reached a tentative contract agreement with building owners, averting a strike set to begin at midnight Monday. The strike…

2026-04-17 · 3 MIN READ

Illinois lawmakers refuse to accept corrections audit findings, demand agency return

Illinois's Legislative Audit Commission refused Tuesday to accept a state Department of Corrections audit that found 40 failures — including a decade-old overtime scheme that cost the state $150 million in fiscal year 2024 — and ordered…

2026-04-15 · 6 MIN READ

USPS to suspend pension contributions and seek stamp price hike

The U.S. Postal Service said it has told federal budget officials it will temporarily suspend employer contributions to Federal Employees Retirement System annuities to preserve cash amid an “ongoing, severe financial crisis,” while asking…

2026-04-11 · 3 MIN READ

Acting Venezuela President Delcy Rodríguez promises May wage increase

Venezuelan acting President Delcy Rodríguez asked public and private sector workers in a televised address for patience as her government works to improve the economy. She promised a wage increase on May 1, while warning it would be…

2026-04-09 · 3 MIN READ

TSA says airport bottlenecks ease after officers received backpay

Airport security lines at U.S. airports eased Monday as Transportation Security Administration officers began receiving backpay for work during the federal government shutdown, a development TSA union officials said is reducing wait times.…

2026-03-31 · 3 MIN READ

Swift Beef strike near Denver heads into third week as talks stall

Thousands of workers at a Swift Beef Co. meatpacking plant in Greeley, Colorado, will extend their strike into a third week, union leaders said Friday as they pressed for higher wages and better health care. The walkout began March 16 and…

2026-03-28 · 3 MIN READ

Retirement savers may want to spend more flexibly, Morningstar says

Retirees often plan to withdraw less than the commonly cited 3%-4% “safe” spending rates, hoping to protect their finances. Morningstar’s Christine Benz argues that underspending can leave large residual balances after decades of…

2026-03-11 · 3 MIN READ

California bill would add lump-sum savings plan for cops, firefighters on top of pensions

Unions representing California Highway Patrol officers and Cal Fire firefighters are backing legislation that would allow late-career public safety workers to accumulate a lump-sum payout on top of their existing pensions — a benefit…

2026-03-05 · 6 MIN READ

Median CEO pay hits $17.7 million, 200 times the typical worker's wage

The median pay package for chief executives of S&P 500 companies rose 6% to $17.7 million in 2025, while the typical employee at those firms earned $89,744, a 4.7% increase, according to an Associated Press survey released Wednesday.

2026-05-27 · 3 MIN READ

NYC nursing strike enters second day with no new talks as Mount Sinai fires three nurses

Illustration accompanying article: NYC nursing strike enters second day with no new talks as Mount Sinai fires

New York City's biggest nursing strike in decades entered its second day Tuesday without new bargaining sessions, as the New York State Nurses Association filed an unfair labor practice charge against Mount Sinai Medical Center for…

2026-01-13 · 4 MIN READ

31,000 Kaiser Permanente health workers end 4-week strike in California, Hawaii

An estimated 31,000 registered nurses and other front-line Kaiser Permanente health care workers will return to work after a four-week strike in California and Hawaii, the United Nurses Associations of California/Union of Health Care…

2026-02-23 · 3 MIN READ

NYC nurses at major hospital system ratify strike-ending contract

More than 4,000 nurses at NewYork-Presbyterian voted Saturday to approve a new contract, ending a strike that lasted more than a month. The New York State Nurses Association said 93 percent of its members voted to ratify the three-year…

2026-02-22 · 3 MIN READ

Nevada prison overtime costs hit $18M in quarter as staffing crisis deepens

Nevada's prison system paid more than $18 million in overtime from July through September 2025, the highest quarterly amount in at least two years, according to data presented to state lawmakers Thursday. The payout represented a $7…

2026-02-20 · 5 MIN READ

New Mexico Senate backs pay for legislature that currently relies on volunteers

Members of New Mexico’s Senate voted Tuesday to endorse a constitutional amendment that would let the state reconsider its ban on direct legislative compensation, a rule that has kept the legislature unsalaried since statehood. If voters…

2026-02-19 · 3 MIN READ

Sri Lanka lawmakers scrap pensions in sweeping vote

Sri Lankan lawmakers voted overwhelmingly to scrap their pensions, fulfilling a campaign promise tied to public anger over the country’s economic crisis. On Tuesday, the bill passed in the 225-member House by 154 votes, with only two…

2026-02-18 · 3 MIN READ

31,000 Kaiser Permanente workers strike for better wages and staffing

An estimated 31,000 registered nurses and other front-line Kaiser Permanente health care workers launched an open-ended strike on Monday in California and Hawaii, demanding higher wages and better staffing from the health care giant.…

2026-01-27 · 4 MIN READ

LA labor plans to use 2028 Olympics to push for housing, wages

Los Angeles labor leaders say they are preparing to use the 2028 Olympics as leverage to win new contracts and press for housing and worker protections. Inspired by labor actions around the Paris Games, unions representing tens of…

2026-01-22 · 3 MIN READ

Three retirement planning rule changes take effect in 2026 under SECURE 2.0 and new tax law

Illustration accompanying article: Three retirement planning rule changes take effect in 2026 under SECURE

Three significant rule changes affecting U.S. retirement savers took effect in 2026, altering how high-income 401(k) participants must structure catch-up contributions, how much state and local tax can be deducted from federal returns, and…

2026-01-06 · 4 MIN READ

NYC nurses resume contract talks on day 11 of strike

Roughly 15,000 nurses negotiating contracts for three major New York City hospital systems returned to the bargaining table Thursday, marking the 11th day of a strike that has tested the nation's largest urban healthcare providers. The New…

2026-01-22 · 3 MIN READ

Colombia's Petro cuts lawmakers' wages by about 30% ahead of elections

Colombia’s president, Gustavo Petro, reduced wages for members of Congress by about 30% on Tuesday, as the country faces a budget crunch and prepares for elections in the first half of the year. The cut is set to take effect in July, after…

2026-01-21 · 3 MIN READ

Sanders, Mamdani rally striking NYC nurses on day 9

New York City Mayor Zohran Mamdani and U.S. Sen. Bernie Sanders rallied with striking nurses Tuesday at Mount Sinai West on the Upper West Side, calling on hospital executives to return to the negotiating table. The rally came during the…

2026-01-20 · 3 MIN READ

Trump administration delays student loan wage garnishment restart

The Trump administration on Friday delayed plans to resume seizing wages and federal tax refunds from Americans who have defaulted on federal student loans, reversing course weeks after announcing it would restart collections this month…

2026-01-16 · 3 MIN READ