In today’s news and commentary, Starbucks’ union revives talks with company and new job data is released.

On Friday, Starbucks Corps.’ union announced that it had made a new contract offer to the company in an effort to revive talks geared towards a collective bargaining agreement. The proposal includes a $17 minimum wage, 4% annual raises, and minimum staffing requirements. Starbucks declined to comment on the new offer while the union said, “it’s time to get a fair contract done so we can all move forward.” In the past, Starbucks has accused the union of proposing “financially unsustainable” offers. The parties participated in a failed mediation in April which came in the wake of the parties walking away from the table entirely in late 2024. The union represents approximately 600 of roughly 10,000 company-run stores.

On Friday, the Bureau of Labor Statistics released its January employment data stating that the number of national layoffs had decreased and job openings increased. Despite this news, many consider the job market as “relatively fragile.” The increase in employment opportunities were primarily driven by the finance and insurance, health care and social assistance, retail trade and accommodation, and food services industries. Importantly, the data showed that the number of unemployed people exceeds job openings, adding support to the Federal Reserve’s contention that the labor market is not currently a source of inflationary pressure (with inflation holding firm month-over-month).