Today’s News & Commentary — December 14, 2017
Walmart announced yesterday that it would allow its workers to take their pay before their payday. Workers would be able to access the wages for hours which they have already worked before the 2-week pay period mark. The new initiative is meant to help workers avoid costly payday loans and other debt traps. The New York Times reports.
The Federal Reserve raised interest rates yesterday for the fifth time since the financial crisis. Unemployment reached 4.55%, indicating that the economy may be at full employment. A Planet Money analysis discusses the shift of the Fed’s attention from unemployment to inflation and what the magic number might be where unemployment can be its lowest without triggering a rise in inflation.
On Monday, the Supreme Court denied cert to hearing Jameka Evans’ case against her employer. Evans alleged that her boss at Georgia Regional Hospital tried to force her to quit because she wore a male uniform and did not conform to female stereotypes. The Supreme Court is expected to hear a case like this in the future, as there is a circuit split of whether Title VII protects against discrimination based on sexual orientation. Reuters reports.