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Daily Scoop 22-1-13

Daily Scoop 22-1-13

👋 Your Thursday Scoops - Kroger workers strike & battle homelessness

January 13, 2022

The team will be taking a break from newsletter updates for the long weekend in observance of Martin Luther King Jr. Day. See you next week!

Today's Scoop:Stumbles

Big Picture

Workers are using the labor shortage to demand better conditions.
Inflation is very high all the way up the supply chain.
Despite high levels, overall inflation is rising at a slower rate.

The Market

⬇️

-1.4%

S&P 500: 4,659.03

1Mo:

+1%

| 1Yr:

+23%

| 5Yr:

+105%

Markets tumbled today as investors grappled with the

uncertainties around inflation and interest rates

for the year ahead. Yesterday, we learned that

consumer prices are 7% higher

than a year ago. Today, the Labor Department reported the

Producer Price Index nearly 10% higher than last year

. Inflation is affecting consumer goods and supplies all the way up the supply chain. Despite the continued rise in prices, both indexes rose less last month than before, indicating some inflation pressures' slowing

Investors are trying to anticipate how quickly

the Federal Reserve will need to reverse away from emergency stimulus mode

to prevent a continued rise in inflation.

Company Scoops ❤🌎💰

(Click to dig in & vote your reaction, see how others feel)

Kroger

faces 8,400 striking employees over unlivable wages

Starbucks

has a growing union movement on its hands

General Motors

is taking on Carvana

Abercrombie & Fitch

can't get enough clothes

Rivian

loses a leader

(These links only work for 24 hours while the story is live)

🤓 Inside Scoop...

A labor union is an organization of workers that band together to collectively bargain for improvements to their working conditions, wages, and benefits. Any industry can have a union. It starts by hosting some form of election in the workplace to acknowledge that the workers of that unit would like to unionize. Then, it expands to a more formalized agreement and negotiation process. Employers can dissuade workers from unionizing, but it's illegal to threaten or coerce. So that the grey line in between is for the lawyers.