Labor and Economic Updates: Vaccine Mandates, Federal Debt Ceiling, and Inflation Concerns

Strategic Insights -

The U.S. Congress and executive branch addressed key labor and economic issues last week, including the federal debt ceiling, vaccine mandates, and inflation concerns. The Senate approved a measure to raise the debt limit, while the Occupational Safety and Health Administration's (OSHA) emergency temporary standard (ETS) vaccine or test mandate faced opposition in both the Senate and the House. The Consumer Price Index (CPI) report showed inflation hitting 6.8 percent for the year, the highest since 1982.

Key Takeaways:

  • The Senate approved a measure to raise the federal debt ceiling, with Senate Majority Leader Chuck Schumer (D-New York) and Speaker of the House Nancy Pelosi (D-California) aiming to clear the measure before December 15.
  • The Occupational Safety and Health Administration's (OSHA) emergency temporary standard (ETS) vaccine or test mandate for businesses with 100 or more employees faced opposition in both the Senate and the House, with the Senate voting 52-48 to rebuke the measure.
  • The Consumer Price Index (CPI) report showed inflation hitting 6.8 percent for the year, the highest since 1982, with the indexes for gasoline, shelter, food, used cars and trucks, and new vehicles contributing to increased prices in November.
  • U.S. President Joe Biden issued a statement about jobs and prices, acknowledging the Friday report likely to reflect elevated consumer prices, or inflation, and calling on Congress to pass his $1.7 trillion climate and social spending bill, the Build Back Better Act (BBBA).
  • The Biden Administration's vaccine mandate for Federal contractors faced a nationwide injunction from Federal Judge R. Stan Baker, who noted the President likely exceeded his authority by imposing the requirement.
  • New York City Mayor Bill de Blasio ordered most businesses in the city to get workers vaccinated by December 27, without the option to opt out with COVID-19 testing, although waivers will be considered for religious or medical reasons.
  • The Labor Department announced the Multilateral Partnership for Organizing, Worker Empowerment and Rights (M-POWER) initiative, committing over $120 million to advance worker empowerment and support trade union rights in the global economy.
  • The Labor Department extended the deadline for submitting nominations to serve on the Federal Advisory Council on Occupational Safety and Health (FACOSH) to January 31, 2022.

Statistics:

  • The Consumer Price Index (CPI) increased 0.8 percent in November, after rising 0.9 percent in October.
  • Inflation hit 6.8 percent for the year, the highest since 1982.
  • The indexes for gasoline, shelter, food, used cars and trucks, and new vehicles contributed to increased prices in November.
  • The energy index rose 3.5 percent in November, with the gasoline index increasing 6.1 percent.
  • The food index increased 0.7 percent, with the index for food at home rising 0.8 percent.
  • The Labor Department committed over $120 million to advance worker empowerment and support trade union rights in the global economy through the M-POWER initiative.
  • 184,000 businesses in New York City will be subject to Mayor Bill de Blasio's order to get workers vaccinated by December 27.

Sources:

  • U.S. Department of Labor's Bureau of Labor Statistics (BLS) - "Consumer Price Index - November 2021"
  • White House - "Statement from the President on the November Jobs Report"
  • U.S. Energy Information Administration - "Short-Term Energy Outlook (December 2021)"
  • U.S. Senate - "Senate Approves Measure to Raise Debt Limit"
  • Senate Health, Education, Labor, and Pensions (HELP) Committee - "Chairman Murray Statement on OSHA Vaccine Mandate"
  • White House Press Secretary Jen Psaki - "Statement on OSHA Vaccine Mandate"
  • U.S. Department of Labor - "Multilateral Partnership for Organizing, Worker Empowerment and Rights (M-POWER)"
  • U.S. Department of Labor - "Award of $10 Million Cooperative Agreement to American Institutes for Research"
  • U.S. Department of Labor - "Memorandum of Understanding (MOU) to Reaffirm Commitment to Administer and Enforce Protections for Military Service Members and Veterans"