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Stocks drift as investors turn cautious ahead of US payrolls


Stocks drift as investors turn cautious ahead of US payrolls
BLURB: European stock index turns negative as bond yields in Europe, US steady. Oil prices gain for a third session in a row
Published: 7:41 PM, Jun 03, 2021
A broker looks at financial information on computer screens on the IG Index the trading floor in London. - Reuters File Photo
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LONDON/SYDNEY: World stocks clung close to record highs on Thursday as investors weighed inflation concerns ahead of key US economic data, while oil prices rose for a third straight session.
Market sentiment was cagey as investors backed away from big bets before the release on Friday of US jobs data, which should offer further clarity on whether the faster-than-expected pace of economic recovery can be sustained and what that might mean for monetary policy. ....

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Biden Commerce Sec Rejects US Chamber's Demand for Foreign Workers


3 Jun 2021
President Joe Biden’s commerce secretary bolstered evidence of a deep split over immigration policy in the administration when she spurned demands by the U.S. Chamber of Commerce for a greater inflow of foreign workers into U.S. jobs.
The rejection was delivered Wednesday by commerce secretary Gina Raimondo when she joined an online session of business leaders who were demanding the government provide them with many indentured workers in place of hiring Americans.
Raimondo’s denial is more evidence of a deep split between within the administration whether to boost wages and training by ensuring a tight labor market, or whether to maximize employment and stock market gains by importing waves of cheap and compliant foreign workers for the jobs needed by Americans. ....

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Chamber of Commerce: Import Wave of Foreign Workers to take U.S. Jobs


1 Jun 2021
The United States Chamber of Commerce has launched a lobbying campaign to massively increase legal immigration to the U.S., specifically the flow of foreign visa workers into American jobs.
Dubbed the “America Works Agenda,” the Chamber is lobbying state and federal lawmakers to hugely expand the rate of legal immigration whereby, already, about 1.2 million legal immigrants are awarded green cards annually and roughly 1.4 million foreign nationals are given visas to take jobs in the U.S.
As part of the campaign, the Chamber is asking lawmakers to:
At least double employment-based green cards to 280,000 admissions a year
Eliminate per-country caps, allowing India and China to monopolize employment-based green card categories ....

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Carriers Continue to Raise Wages Amid Driver Shortage | Go By Truck Global News


Trucking companies are continuing to increase driver pay as labor capacity remains a challenge amid strong demand.
Averitt Express announced a pay increase for local drivers, shuttle drivers, diesel mechanics and dock associates, while Maverick Transportation announced higher pay for flatbed, glass, marine and dedicated drivers. WEL Cos. announced its drivers would see pay increase by 4 cents per mile.
“Our drivers have worked extremely hard during these unprecedented times of high demand and tight capacity, and we are proud to recognize them with this industry-leading pay package,” Maverick President John Culp said in a statement.
Maverick said its flatbed and glass over-the-road drivers would see an increase of 3 to 4 cents per mile. For student drivers, that takes starting pay up to 55 to 60 cents per mile, or an average of around $80,000 per year, the company said. Experienced drivers will earn 59 to 66 cents per mile. ....

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