ABYC Sets Date For Marine Service Technician Week

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FEATURED INDUSTRY NEWS ABYC Sets Date For Marine Service Technician Week The American Boat & Yacht Council (ABYC)’s third annual International Marine Service Technician Week is scheduled for April 22-26, 2024. The week is dedicated to recognizing the exceptional skills and commitment of marine service professionals. Read More LEADING ECONOMIC AND POLICY NEWS Federal Reserve Expected To Leave Rates Unchanged Following Jobs Data The New York Times reported the Labor Department on Friday announced employers “added 275,000 jobs in February...in another month that exceeded expectations even as the unemployment rate rose.” The Times says it marked “the third straight month of gains above 200,000, and the 38th consecutive month of growth – fresh evidence that four years after going into pandemic shutdowns, America’s jobs engine still has plenty of steam.”         The AP reported while the unemployment rate “ticked up two-tenths of a point in February to 3.9%,” which “was the highest rate in two years, it is still low by historic standards.” The AP also points out the report “gave the inflation fighters at the Federal Reserve some encouraging news,” as “average hourly wages rose just 0.1% from January, the smallest monthly gain in more than two years, and 4.3% from a year earlier, less than expected.”         CNBC reported that the data “likely keep the Federal Reserve on track to cut interest rates later this year, though the timing and extent remain uncertain.” The New York Times reported that while Fed officials this month “are widely expected to leave interest rates unchanged,” investors “think that they could begin to lower interest rates as early as June,” and Fed Chair Jerome Powell “did little to either strongly confirm or upend” this belief this week. Likewise, Reuters says the data provides the Fed with “fresh reasons...to remain on standby.”         Bloomberg, Bloomberg, and Fortune also reported. President Biden Signs Legislation To Avoid Partial Government Shutdown Reuters reported the White House on Saturday announced President Biden has “signed a spending bill that averted a partial government shutdown.” The New York Times reported Biden signed the $460 billion spending package “even as lawmakers continue to wrestle over a financing blueprint for many other agencies more than halfway into the current fiscal year.”         The AP reported that the President “thanked leaders and negotiators from both parties in both chambers for their work, which the White House said will mean that agencies ‘may continue their normal operations.’” However, Politico reported that Republicans used the bill to “enact...deep cuts to the National Science Foundation and stall...key offices in the Commerce and Energy departments that are supposed to deploy” the bipartisan CHIPS and Science Act’s funds for “fundamental research and development aimed at staying ahead of China and other rivals in competitive fields like artificial intelligence.” The Wall Street Journal provided similar coverage. Federal Judge Favors Businesses’ Challenge To NLRB Joint Employment Rule Reuters reported US District Judge J. Campbell Barker on Friday “struck down a U.S. National Labor Relations Board (NLRB) rule challenged by major business groups that would treat many companies as employers of certain contract and franchise workers and require them to bargain with unions representing them.” Barker “agreed with the challengers to the “joint employers” rule, including the U.S. Chamber of Commerce, that it was too broad and violates federal labor law.” The NLRB “is expected to appeal Barker’s decision to the New Orleans-based 5th U.S. Circuit Court of Appeals.” Lawsuits Continue To Target Corporate DEI Initiatives The Washington Post detailed the legal efforts of “a half-dozen plaintiffs who have launched challenges in recent months against state programs meant to increase racial and ethnic diversity across a range of professions, from teaching to farming to podiatry.” Such lawsuits “represent the latest front in a conservative campaign to roll back affirmative action programs in government and diversity, equity and inclusion (DEI) initiatives in the corporate world,” and “such programs are ripe targets, legal experts say, in part because nearly every state and locality has one or more that benefit women, minorities and other underrepresented groups.” Previous Top Stories  • DiscoverBoating.com’s February Content Engages New Boaters  • Federal Reserve Chair: Inflation Rate Is “Not Far From” Where The Fed Wants It To Be

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