Inflation was a hot topic on Capitol Hill Thursday, as Biden administration officials testified on the state of the economy. Administration officials said the pandemic helped create an environment that led to inflation and they pointed out the economy is recovering and unemployment is falling. But lawmakers argued their constituents are feeling the pain of rising prices. And Sen. Bob Menendez (D-NJ) said some companies are making things worse. He called out consumer products company Kimberly-Clark for sharply raising prices on N-95 masks.
New Jersey has set new sports betting record. Sportsbooks took in nearly $1.35 billion in bets last month, surpassing their previous high mark. The record came despite new competition from New York. Jane Bokunewicz, director of the Lloyd D. Levenson Institute of Gaming, Hospitality & Tourism at Stockton University says it’s too early to say what the long-term impacts of that competition will be, but she said she is encouraged by the January numbers. What’s not so great — brick-and-mortar casino revenues in January were below pre-pandemic levels.
Amazon warehouse workers in New York are a step closer to voting on whether they should unionize. The National Labor Relations Board says the workers and the company have tentatively agreed on terms for a union election, which will be held in late March. Amazon workers in Alabama will also be voting on whether to unionize. These votes will be closely watched; if approved by workers, it would mark the first time Amazon warehouse employees would be represented by a union. Other big companies — including Starbucks — are seeing efforts by workers to unionize.
