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- The auto industry is gearing up to strike đźš™
The auto industry is gearing up to strike đźš™
And the tennis player earning $38 million
Hey hey! Hope everyone enjoyed their long weekend. 💚 We spent the Labor Day holiday doing what we love most—talking to people about, well, labor! The STS team was in the beautiful city of Detroit, where we got to meet dozens of you at our community meet-up and hear what knowledge and support you would share with today’s workers. Catch Detroit’s stellar Labor Day low-down right here.
1 The auto industry is revving up for a huge strike đźš—
AP Photo/Paul Sancya
United Auto Workers (UAW) is gearing up to strike starting September 14 if it doesn’t reach a deal with the “Big Three” automakers (Ford, GM, and Stellantis) before workers’ contracts expire.
This is a big deal. A protest against all three major car manufacturers at once is unprecedented. Plus, with UAW representing 150K auto workers, a strike as short as 10 days could lead to an economic loss of $5 billion.
Here’s what UAW leadership is asking for:
đź™… The elimination of a two-tiered wage system, which pays new hires significantly less for the same job as more tenured workers.
đź“Š The restoration of cost-of-living adjustments (COLA), which would incorporate inflation, medical benefits for retirees, a defined pension, and more.
💵 40% or more in pay increases. The auto industry made a record profit of $32 billion in Q3 of 2022 alone. UAW’s President, Shawn Fain, said, “Record profits mean record contracts.”
But what are the chances of the strike happening? Considering the UAW and Big Three still aren’t seeing eye-to-eye on key issues (Fain literally set a Stellantis contract offer on fire on a Facebook livestream), it seems “increasingly likely” that the summer of strikes continues into the fall.
2 Important news for anyone earning <$55,000 per year đź—Ł
Did you know? You only qualify for overtime pay in the U.S. if you’re…
→ An hourly worker who clocks in more than 40 hours per week
→ A non-hourly professional worker who earns less than $35,568 a year
That means only ~15% of salaried workers qualify for overtime pay. And that’s (excuse our French) B.S. Fortunately, a new Biden administration proposal wants to raise that threshold to $55,068 per year for non-hourly professionals.
The proposal is still under review by the Labor Department, but we should know if it passes within the next two months. 🤞
3 The world’s highest-paid tennis players 🎾
Danielle Parhizkaran/USA TODAY Sports
The U.S. Open is in full swing. 🏸 As you watch the matches from your couch (or if you’re lucky, from the stands), you might be wondering: How much are these people making?!
Here are the sport’s top five earners (and yes, we also noticed there’s only one woman here) →
Novak Djokovic: $38.4 million
Carlos Alcaraz: $31.4 million
Iga Swiatek: $22.4 million
Daniil Medvedev: $20.1 million
Rafael Nadal: $15.5 million
Time to pick up that tennis racket, amiright?
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It was just Labor Day, which is a federal holiday to celebrate workers and the labor movement. It’s also the unofficial end of summer (💔) and the start of the school year (🥳). To celebrate that second one, we’re throwing it back to our interviews with the students of Howard University!
We asked these go-getters about their majors and how much they hope to earn. From soon-to-be entrepreneurs to divorce lawyers to social workers, this video is jam-packed with a diverse mix of careers (and six-figure salary aspirations 🤝).
The common LinkedIn mistake that could hurt your job prospect chances. đź«
How to write a resignation letter when you're unhappy with management.
Do extroverts really have it easier in the office? 🔊
Why women shut down Iceland for a day in 1975 (hint: It’s one of the reasons why Iceland’s gender pay gap is less than 10%).
Everyone tells you to put hard skills on your résumé…but what actually are they?
Thanks for reading! We’ll let writer and creator Ellie Middleton close us out with an incredibly important reminder:
See you next Tuesday!
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