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Marketplace All-in-One

Biden Administration issues new employee classification rule

Marketplace All-in-One

Marketplace

News, Business

4.51.4K Ratings

🗓️ 9 January 2024

⏱️ 1 minutes

🧾️ Download transcript

Summary

Stocks close mixed; labor rule meant to combat worker misclassifications; imports fall in November; exports fall as well.

Transcript

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0:00.0

This is the Marketplace Minute. I'm Justin Ho. Stocks were mixed on Tuesday. The

0:07.3

Down fell for tenth percent. The S&P gave up more than a tenth of our percent,

0:11.6

but the NASDAQ rose a tenth of a percent.

0:14.8

The Biden administration issued some new rules about worker classifications, whether a worker

0:19.6

should be considered an independent contractor or an actual employee.

0:24.0

The administration says the goal is to ensure workers are considered employees if a worker

0:28.0

is dependent on a company for work and if that work is integral to the company's business model.

0:33.4

The value of U.S. imports fell between October and November.

0:37.0

That's according to the Commerce Department.

0:38.8

Consumer goods imports fell the most, including cell phones and other household goods.

0:44.0

And the same report found that the value of U.S. exports fell too,

0:48.0

mostly exports of industrial supplies, along with vehicles and auto parts.

0:52.0

Overall, the trade deficit shrank.

0:55.0

I'm Justin Ho, with the marketplace minute.

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