According to a report published in The Intercept on Tuesday, essential workers at major companies like Amazon, Walmart, Instacart, Target, Whole Foods, and FedEx are planning a walkout as part of a May Day general strike, fighting for workers' rights.
A lot of Americans probably don't know the history of May Day, or the fact that May 1st is known as International Workers' Day—or Labour Day—in much of the world. That ignorance, and the fact that we have our own Labor Day in September, can best be understood as part of a deliberate effort to undermine class consciousness and solidarity in the US, and is all the more reason why more workers need to participate in Friday's strike.
The power structures of our country have long maintained a hostile relationship toward labor and have successfully suppressed unionization and other efforts by workers to agitate for their rights. But this May 1st is the perfect time to correct that tendency and join the world in celebrating workers–because the historic event that International Workers' Day commemorates took place here in America in 1886, and it upset the established hierarchy in a way that should serve as inspiration for people currently struggling to make ends meet.
Prior to 1886, May Day had traditionally been celebrated in European cultures with a variety of festivals celebrating spring, but that year American workers took the occasion as an opportunity to fight for their rights. A massive, nationwide work stoppage began on May 1st and continued for several days, with thousands of striking workers demonstrating in every major city. At the time, workers were often made to work long hours in dangerous conditions, and they were fighting for the eight-hour workday—so if you've ever gotten overtime pay, or just enjoyed clocking out at 5:00, then you have them to thank.
On May 3rd police efforts to quash the protests in Chicago resulted in at least one death and several injuries.The next day an unknown assailant came prepared. When police once more attempted to disperse the crowd in Haymarket Square with violent tactics, that person threw a dynamite bomb. The explosion and the ensuing gunfire killed seven police officers and at least four civilians. Dozens more were badly hurt. Police then rounded up hundreds of organizers, and four men—none of whom had thrown the bomb—were hanged after a lengthy, internationally publicized trial.
It would take another 30 years of fighting before a federal law established an eight-hour work day for any private industry—and even longer before FDR's administration made it standard across most types of work. But those four men became martyrs for the cause of workers' rights and galvanized people around the world to take action. According to historian William J. Adelman, "No single event has influenced the history of labor in Illinois, the United States, and even the world, more than the Chicago Haymarket Affair," yet few Americans are aware of these events or the holiday they spawned. While the violence and death that took place back then was obviously regrettable—and no one should be hoping for its recurrence—we are about due for another turning point in labor history.
The cracks in our system are being exposed like never before, and millions are falling through. Tens of millions of Americans find themselves suddenly unemployed or underemployed. Shockingly few have been able to sign up for unemployment benefits, and the federal government's $1,200 checks are being treated as a long-term cure-all. People aren't making money, yet most of them are still expected to pay their rent in full, and many have lost their health insurance amid a viral pandemic. It's no wonder people are protesting for their states to reopen; but seeing as that would plainly backfire (and is a push being secretly driven by wealthy backers who won't have to risk their lives), we need to direct that energy toward measures that would actually help.
Meanwhile, many of the people who never stopped working—in healthcare, retail, food service, and other industries deemed "essential"—are being asked to risk their lives working without safety equipment, hazard pay, or even adequate sick leave. These conditions would be unacceptable at the best of times, but now—at the worst of times—we have no choice but to fight back and demand immediate relief and lasting reforms.
A rent strike is a good start, but a general strike—in which workers across industries and around the country participate—sends a real message. So if it's at all possible for you to join the general strike on Friday, May 1st, and/or participate in a (safe, socially-distant) demonstration, consider what you'd be fighting for: A rent and mortgage freeze; liveable stimulus payments; guaranteed healthcare; and hazard pay, sick leave, and PPE for all essential workers.
These are the absolute bare minimum measures that can get us all through this crisis, and if we don't demonstrate the collective power of the American working class—to drive or shut down the economy—we will continue to be deprived of even these. It's time to stand up.
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Whether you are looking for a new job or trying to grow in your current one, getting a certification can be a great way to improve your skills.
Anyone can put that they are proficient in a computer program on their resume but having a certificate can help you stand out amongst the competition and give credence to the strength of your skills.
But what's the best way to invest in yourself without breaking the bank? Some certification programs can cost hundreds if not thousands of dollars. We are going to walk through six of the best certifications you can get for $100 or less.
Who is it best for: Those who work with analyzing and presenting data.
Cost: $100 for Tableau Desktop Specialist; additional certifications are available for a larger fee.
More companies than ever see themselves as data companies. Being able to understand data and use it to guide decisions at your company is often critical to taking on a leadership role. Not to mention, being able to present the data in a clean, attractive, and compelling way can help get buy-in from others in your organization or clients. That's why Tableau is a great tool to have in your toolbox.
Tableau allows you to create interactive visual analytics dashboards. In layman's terms, you can take data; create graphs, maps, or charts; and then allow end-users to interact with these graphics to better understand the information. It's a fantastic tool allowing non-technical users to gain insights for data-driven decision-making.
Tableau Desktop Specialist certification starts at $100 and has no expiration date. There are many videos on Tableau's site to prepare for your exam as well as Tableau Starter Kits allowing you to play around and learn the different capabilities of the program. Tableau offers a 14-day free trial as well as free license for one year for students.
Additional certifications after Desktop Specialist are Desktop Associate and Desktop Professional. Those working with a Tableau server may also be interested in a separate certification as a Server Associate or Server Professional.
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When you take out a loan for a car, charge something to your credit card, or get a personal line of credit, there is going to be an interest rate that applies to your loan.
A lot of different factors go into what you will be charged, including your own personal credit score. But even those with flawless credit still see a minimum charge that they can't get around. That all goes back to the Federal Funds Rate.
One thing consumers rarely realize is that all of our banks are lending money to each other every night. Banks are legally required to maintain a certain percentage of their deposits in non-interest-bearing accounts at the Federal Reserve to ensure they have enough money to cover any withdrawals that may unexpectedly come up. However, deposits can fluctuate and it's very common for some banks to exceed the requirement on certain days while some fall short. In cases like this, banks actually lend each other money to ensure they meet the minimum balance. It's a bit hard to imagine these multibillion-dollar financial institutions needing to borrow money to tide them over for a bit, but it happens every single night at the Federal Reserve. It's also a nice deal for those with balances above the reserve balance requirement to earn a bit of money with cash that would normally just be sitting there.
The Federal Reserve
The exact interest rate the banks will charge each other is a matter of negotiation between them, but the Federal Open Market Committee (FOMC) (the arm of the Federal Reserve that sets monetary policy) meets eight times a year to set a target rate. They evaluate a multitude of economic indicators including unemployment, inflation, and consumer confidence to decide the best rate to keep the country in business. The weighted average of all interest rates across these interbank loans is the effective federal funds rate.
This rate has a huge impact on the economy overall as well as your personal finances. The federal funds rate is essentially the cheapest money available to a bank and that feeds into all of the other loans they make. Banks will add a slight upcharge to the rate set by the Fed to determine what is the lowest interest that they will announce for their most creditworthy customers, also known as the prime rate. If you have a variable interest rate loan (very common with credit cards and some student loans), it's likely that the interest rate you pay is a set percentage on top of that prime rate that your lender is paying. That's why in times of low interest rates (it was set at 0% during the Great Recession), a lot of borrowers should go for fixed interest rate loans that won't increase. However, if the federal funds rate was relatively high (it went up to 20% in the early 1980's), a variable interest rate loan may be a better decision as you would be charged less interest should the rate drop without the need to refinance.
The federal funds rate also has a major impact on your investment portfolio. The stock market reacts very strongly to any changes in interest rates from the Federal Reserve, as a lower rate makes it cheaper for companies to borrow and reinvest while a higher rate may restrict capital and slow short-term growth. If you have a significant portion of your investments in equities, a small change in the federal funds rate can have a large impact on your net worth.
Whether you're leaving a job involuntarily, departing for something new, or just want to prepare for the unknown, it is smart to understand all your options regarding your 401k.