The largest retail group in the country says it expects consumers to spend more this holiday season, but the growth in sales will be slower than last year.
The National Retail Federation (NRF) said its 2024 forecast shows winter holiday spending is expected to grow between 2.5% and 3.5% over 2023.
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In what is sure to have significant implications for millions of American workers, specifically gig economy workers and contractors, the Department of Labor (DOL) issued its long-awaited final worker classification rule in January.
The new rule revises the process to determine whether a worker is an employee or independent contractor under the Fair Labor Standards Act. The government argues the rule is necessary to ensure that all workers are provided fair wages and overtime since independent contractors (people who work for themselves or a business on a contractual basis) are not given the same benefits, such as tax withholdings and paid time off, as traditional employees. However, this argument appears designed to mask the government’s true intention, which is to reduce the number of independent contractors in the country.
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