Labor

Record $765B in Federal Contracts Awarded in 2023 – HigherGov Report

Retrieved on: 
Wednesday, January 17, 2024

A new report by government market intelligence platform HigherGov shows that defense and civilian contractors were awarded a record level of contract awards in 2023.

Key Points: 
  • A new report by government market intelligence platform HigherGov shows that defense and civilian contractors were awarded a record level of contract awards in 2023.
  • The 2023 Federal Contract Award Report , based on analysis of public and proprietary HigherGov data, found that federal prime contractors received a total of $765 billion in awards.
  • Competition levels reached a record high in 2023, with an average of 3.4 bidders per award
    “Strong growth in 2023 was primarily attributable to spending on the war in Ukraine, large defense procurement programs and broad-based award growth,” said Justin Siken, founder of HigherGov.
  • 2023 award levels benefited significantly from procurement programs and war spending that may not be repeated in the future.

KBRA Releases Research – Government Hiring Pads Strong but Slowing U.S. Employment Gains

Retrieved on: 
Wednesday, January 17, 2024

KBRA releases research examining the robust but slowing U.S. labor market.

Key Points: 
  • KBRA releases research examining the robust but slowing U.S. labor market.
  • The report discusses the outsized contribution of government hiring to overall employment growth over the last year and prospects for the trend to continue in 2024 as remaining pandemic-related federal assistance funds are deployed.
  • Click here to view the report.

GlobalData report highlights staggering economic costs for South Carolina of $7.4 billion due to obesity

Retrieved on: 
Wednesday, January 17, 2024

GlobalData’s report, ‘ Obesity’s Impact on South Carolina's Economy and Labor Force ,’ analyzes the economic and workforce implications of obesity in the State of South Carolina, as well as the impact on state tax revenue collections and costs.

Key Points: 
  • GlobalData’s report, ‘ Obesity’s Impact on South Carolina's Economy and Labor Force ,’ analyzes the economic and workforce implications of obesity in the State of South Carolina, as well as the impact on state tax revenue collections and costs.
  • In South Carolina, approximately one-third of adults are classified as having obesity (35.0%), and another third have overweight (34.8%) in 2022.
  • Employers in South Carolina paid an extra $907 million in higher medical expenditures for health complications attributed to obesity and overweight.
  • The federal government also spent an estimated $1.7 billion more on Medicare and Medicaid for South Carolina residents.

WorkJam Launches New Products to Empower Frontline Employees and Managers

Retrieved on: 
Tuesday, January 16, 2024

All three new products are embedded into WorkJam’s core technology, making the WorkJam super app more robust and cementing the company’s leadership in frontline workplace technology.

Key Points: 
  • All three new products are embedded into WorkJam’s core technology, making the WorkJam super app more robust and cementing the company’s leadership in frontline workplace technology.
  • That partnership provides the two companies’ joint customers with AI-driven insights into frontline sentiment and empowers store and logistics site managers to boost frontline engagement, productivity and retention.
  • As the leading digital frontline workplace, WorkJam enables large enterprises to orchestrate their frontline workforces to improve productivity, engagement and retention.
  • In 2023, WorkJam was named to the TIME100 Most Influential Companies list, which highlights companies making an extraordinary impact around the world.

Onbe and TimeForge Serve Up Same-Day Digital Tip Payouts to Restaurant Workers

Retrieved on: 
Thursday, January 11, 2024

The new partnership with Onbe simplifies the payments side of restaurant management by providing a tip-tracking solution from TimeForge, integrated with Onbe’s digital payout offerings, to 14,000 restaurants, grocery stores and other retail groups and their approximately 840,000 employees.

Key Points: 
  • The new partnership with Onbe simplifies the payments side of restaurant management by providing a tip-tracking solution from TimeForge, integrated with Onbe’s digital payout offerings, to 14,000 restaurants, grocery stores and other retail groups and their approximately 840,000 employees.
  • Restaurant operators will be able to calculate tips quickly and accurately at the end of every shift and pay workers immediately via reloadable digital cards.
  • TimeForge’s software solution eliminates the hassle of calculating tip pools and reconciling credit card tips by making it simple to sync data between POS and payroll platforms, ensuring that restaurant employees receive accurate payouts.
  • Workers have access to simple online and mobile account tools, allowing them to track, manage and move their money with ease.

Strategic Organizing Center Launches www.BrewABetterStarbucks.com and Files Preliminary Proxy Statement

Retrieved on: 
Friday, January 12, 2024

The Strategic Organizing Center (the “SOC”), a shareholder of Starbucks Corporation (Nasdaq: SBUX) (“Starbucks” or the “Company”), today announced the launch of its website www.BrewABetterStarbucks.com and that it has filed a preliminary proxy statement with the U.S. Securities and Exchange Commission (“SEC”) in connection with Starbucks’ 2024 Annual Meeting of Shareholders (the “Annual Meeting”).

Key Points: 
  • The Strategic Organizing Center (the “SOC”), a shareholder of Starbucks Corporation (Nasdaq: SBUX) (“Starbucks” or the “Company”), today announced the launch of its website www.BrewABetterStarbucks.com and that it has filed a preliminary proxy statement with the U.S. Securities and Exchange Commission (“SEC”) in connection with Starbucks’ 2024 Annual Meeting of Shareholders (the “Annual Meeting”).
  • Joshua Gotbaum and Wilma Liebman – for election to the Starbucks Board of Directors (the “Board”) at the upcoming Annual Meeting.
  • The Proxy Statement and an accompanying BLUE proxy card will be furnished to some or all of the Company’s stockholders and will be, along with other relevant documents, available at no charge on the SEC website at http://www.sec.gov .
  • Information about the Participants and a description of their direct or indirect interests by security holdings or otherwise is contained in the preliminary proxy statement filed by the Participants with the SEC on January 12, 2024.

Barclays and IBM analyze how AI’s accessibility and versatility could bring a boost to productivity

Retrieved on: 
Thursday, January 11, 2024

Barclays Research and IBM’s Institute for Business Value today released a new Impact Series report, entitled “AI revolution: productivity boom and beyond.” The report examines whether AI can become the final accelerator to boost productivity and what this could mean for industries and the wider economy.

Key Points: 
  • Barclays Research and IBM’s Institute for Business Value today released a new Impact Series report, entitled “AI revolution: productivity boom and beyond.” The report examines whether AI can become the final accelerator to boost productivity and what this could mean for industries and the wider economy.
  • This press release features multimedia.
  • View the full release here: https://www.businesswire.com/news/home/20240111175152/en/
    “The world’s demographic patterns are shifting in unprecedented ways and productivity growth in advanced economies has been disappointingly low over the past two decades, despite rapid growth of the digital economy,” says Christian Keller, Head of Economics Research.
  • The key findings of today’s report include:
    When it comes to the emerging world, the picture is different: working-age populations are still expanding, but skills and education levels can be more limited, which applies downward pressure on GDP-per-hour-worked.

BioCT Welcomes Accomplished Life Science Executives to Board of Directors

Retrieved on: 
Wednesday, January 10, 2024

BioCT, the trade organization for the life sciences industry for the State of Connecticut, today announced the addition of four distinguished executives to its Board of Directors.

Key Points: 
  • BioCT, the trade organization for the life sciences industry for the State of Connecticut, today announced the addition of four distinguished executives to its Board of Directors.
  • “Jean-Michel, Kat, Paul and Seng are deeply committed to partnering with BioCT to grow and strengthen the organization, and the Connecticut life sciences ecosystem,” said Jodie Gillon, President and CEO of BioCT.
  • "The addition of Jean-Michel, Kat, Paul, and Seng reinforces our commitment to assembling a dynamic and experienced Board.
  • We look forward to their valuable contributions as BioCT continues to propel Connecticut's life science sector forward.”

Michigan invests millions to build the United States’ strongest semiconductor workforce through higher education

Retrieved on: 
Wednesday, January 10, 2024

The Michigan Economic Development Corporation (MEDC) announced $4.6 million in grants and matching funds in recent weeks to support eight local higher education institutions’ semiconductor education and training programs.

Key Points: 
  • The Michigan Economic Development Corporation (MEDC) announced $4.6 million in grants and matching funds in recent weeks to support eight local higher education institutions’ semiconductor education and training programs.
  • Michigan Technological University (MTU) is supporting a major expansion of semiconductor education and training programs across Michigan’s Upper Peninsula, including introducing Flexible Semiconductor Technician and Maintenance Micro-Credentials programming.
  • Wayne State University is creating three new programs in direct response to the workforce needs of Southeast Michigan.
  • "The U.S. is in need of a stronger semiconductor workforce, and Michigan is prioritizing it and leading the way,” explained MEDC’s Higher Education Partnerships Director Avazeh Attari .

Small Businesses Wrap-Up 2023 with Minimal Hiring Gains

Retrieved on: 
Tuesday, January 9, 2024

The CBIZ SBEI tracks payroll and hiring trends for over 3,100 companies that have 300 or fewer employees, providing broad insight into small business trends.

Key Points: 
  • The CBIZ SBEI tracks payroll and hiring trends for over 3,100 companies that have 300 or fewer employees, providing broad insight into small business trends.
  • Small businesses accounted for an increase of 74,000 of those jobs on a seasonally adjusted, month-over-month basis.
  • Geographical hiring: The West (1.31%) reported the largest hiring increase, followed by the Central (0.91%), Northeast (0.42%), and Southeast (0.12%) regions.
  • Despite growth, the modest hiring in December could point to some weaknesses as small businesses look ahead to the typically slower months after the holidays.