The Latest Breaking News from Labor Department

Stock futures nudge higher on debt ceiling deal relief; ADP jobs data in focus as markets look to Friday payrolls; Salesforce slides after sluggish revenue growth, muted near-term outlook; Nordstrom surges after surprise Q1 profit, margin improvement and Broadcom earnings on deck as chipmaker rides AI demand wave.

The Labor Department trimmed prior job growth estimates, but said 253,000 new hires were added to the economy last month.

Recurring U.S. unemployment benefit claims jumped to the highest level since November 2021, indicating some softening in the labor market.

WASHINGTON — House Republicans came up short in their effort to override the first veto of President Joe Biden’s presidency, meaning Labor Department regulations permitting consideration of environmental, social and governance (ESG) factors in investing will stand.

A regulation allowing pension managers to weigh ESG factors will stand, after the House did not override Biden's veto.

Economy and Society is Ballotpedia’s weekly review of the developments in corporate activism; corporate political engagement; and the Environmental, Social, and Corporate Governance (ESG) trends and events that characterize the growing intersection between business and politics.

WASHINGTON — President Joe Biden issued the first veto of his presidency Monday, keeping in place a Labor Department regulation allowing retirement plans to consider environmental and social factors in their investment decisions.

Conservative groups have derided ESG as "woke capitalism" and have set out to dismantle it.

President Joe Biden has issued the first veto of his presidency as he seeks to block Republican-led efforts in Congress to overturn a Labor Department rule allowing retirement plans to consider environmental, social and governance factors when making investment decisions