[Fox Business] Demand for skilled workers on the rise

Manufacturers are warning of an increasing demand for workers with specialized skills. According to a survey done by the National Association of Manufacturers, employers say their top challenge is attracting and retaining a quality workforce.

“You can’t meet demand if you don’t have enough people to make the products. We want to outcompete the rest of the world. We want America to be the number one manufacturer in the world,” National Association of Manufacturers President and CEO Jay Timmons said. “We’ve got to make sure folks understand what exciting careers are available in manufacturing.”

There are more than 600,000 openings for manufacturing jobs in the U.S., according to May Labor Department data.

“That number is going to rise to about 2.1 million vacancies or open jobs by the year 2030 if we don’t take a different path,” Timmons warned.

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Around 1.7 million employees were laid off, quit or left manufacturing jobs in March and April 2020, when the COVID-19 pandemic first took hold. Many of those workers were eventually hired back along with additional people to fill those roles. The number of those working in the manufacturing sector has since surpassed pre-pandemic levels, with around 200,000 additional workers now employed than in January 2020.

“We pay more than any other sector of the economy. The average salary is six digits,” Timmons said. “If you want to be able to provide for your family in the long term, manufacturing is certainly a key way of life.”

Despite the increase in workers, job openings have surged. In January 2020, there were 412,000 available manufacturing jobs. In April 2022, there were over a million. Timmons said workers are needed in every area of the manufacturing sector.

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“We have an aging workforce right now and so many of the skills that workers need are centered around technology, kind of the manufacturing of the future, digitization of manufacturing,” Timmons said. “Young people today, frankly, they get it. They understand almost instantaneously what is necessary and needed in a manufacturing career.”

President Biden signed the $1 trillion infrastructure bill into law in 2021. As many of those projects get started, manufacturers have said even more workers will be needed.

“You think about infrastructure investment, the Chips in Science Act, which was absolutely critical to our industry, some of the policy priorities of the IRA, those things are all good news for manufacturers,” Timmons explained. “If you add all that together, you need more people.”

Timmons said one solution could be to find additional workers abroad.

“Why don’t we look at immigration policy in an economic sense and say, what can we do to bring people here, perhaps temporarily or perhaps specifically for an industry where we can’t find folks for?” he added. “If we can’t find people, that’s when you’re going to start to see the artificial intelligence or other types of technology being employed to make up for the fact that we can’t find the people.”

High schools in the U.S. have been investing in programs to get young people interested in trade skills.

“I would not have graduated high school without shop class,” Minneapolis Public Schools teacher Zachary Humphrey said. “Chemistry, English, science. Yes, it’s important, but there’s some kids who need some hands-on stuff to graduate.”

Humphrey is an automotive instructor as part of the district’s Career and Technical Education program. Students across the district are able to take specialized classes like auto, engineering and construction. Students say the classes are beneficial for their future career goals.

“We get to go on field trips and meet people like representatives for colleges or unions,” senior Luis Torres said. “We get to make new connections and talk to people, and it’s really to prepare us for a future.”

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[Fox Business] Multiple Walmart stores in New York have had incidents of credit card skimmers in July

Some of Walmart’s stores in New York this month had incidents of credit card skimmers at registers.

NewsChannel 9 reported in mid-July that the devices were found in 14 of the retailer’s locations across the Empire state. The installations took place between July 2 and July 5, according to the outlet.

Skimmers facilitate the theft of consumer’s information for those who affix them to credit card machines. 

In a news release, the Auburn Police Department said Walmart employees became aware of one of the credit card skimmers at the city’s location on July 5, three days after it had been attached to the terminal. In Camillus, another of them had been put on lane No. 5, the Camillus Police Department reported in a July 7 Facebook post. 

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Two Walmarts in Maine also reportedly saw such devices earlier in the month.

More recently, on July 21, a card skimmer cropped up at a Walmart in Niagara Falls, adding to the locations where they have been found, per WGRZ.

“Providing customers with a safe shopping experience is a top priority. We’re continually reviewing protocols and adding enhanced security measures to better protect in-store-transactions,” Walmart told FOX Business in a statement. “Also, this situation remains an on-going criminal investigation, and we’re actively engaged with various law enforcement agencies.”

“Customers concerned they may have been impacted can contact their card provider or Walmart Customer Care Team at 800-925-6278.”

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Walmart’s retail presence in New York includes nearly 100 stores, according to its website. In the U.S., the retailer has over 3,500 total supercenters. 

When using point-of-sale terminals, the FBI has said people should be wary of “anything loose, crooked, damaged, or scratched” to help avoid becoming a victim of a card skimmer. The practice of pulling at the terminal or keypad to see if it comes off can also help, according to the agency.

In a video published in April, the El Cajon Police Department in California said to look for stickers placed on credit card readers by stores as a signal for a legit terminal. That department handled a dozen skimmers that had been placed on devices at various retailers in a one-year period, it said.

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Cards that offer chips or tapping to pay generally have more protection from the devices compared to magnetic strips. 

Thieves also often put skimmers on gas pumps and ATM machines, with the illegal practice wracking up over $1 billion in costs on an annual basis overall, according to the FBI.

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[Fox Business] Apple CEO Tim Cook reportedly once received denial for Apple Card

Tim Cook reportedly encountered temporary difficulty early on in obtaining one of Apple’s credit cards.

When the Apple CEO tried to get an Apple Card prior to the payment option’s official debut in 2019, he received a rejection, according to The Information. Resolving it reportedly required an override from the Wall Street bank that the tech company partnered with on the credit card, Goldman Sachs.

Four anonymous sources for The Information apparently attributed Cook’s temporary denial to a measure by credit bureaus to prevent the impersonation of prominent individuals.

The outlet reported Tuesday on the incident in a larger piece about the relationship between Apple and Goldman Sachs. FOX Business reached out to both entities for comment.

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The total number of people using Apple Cards has since reached around 10 million, according to The Information. 

That comes after Americans began having the option of getting the Apple Card in August 2019. The iPhone maker had revealed it would team up with Goldman Sachs and MasterCard to bring consumers the card in the spring of that year.

The company rolled out the high-yield savings accounts it started to offer to Apple Card holders in April. Those were also offered via Goldman Sachs.

People started 240,000 of the Apple savings accounts in the initial week they were offered, with the accounts seeing a massive amount of funds – $990 million – in the four days after they became available, Forbes reported.

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Apple’s payment services fall under its overall Services segment.

For the second quarter, net sales for the Services segment came in at $20.9 billion, climbing nearly 5.5% year over year.

APPLE’S SECOND-QUARTER REVENUE AND EARNINGS COME IN ABOVE ESTIMATES

Those net sales were part of the $94.84 billion overall generated in the three-month period by Apple, which also has iPhone, Mac, iPad and wearables, home and accessories segments. Its quarter net income was $24.16 billion.

“For Services, we expect our June quarter year-over-year revenue growth to be similar to the March quarter, while continuing to face macroeconomic headwinds in areas such as digital advertising and mobile gaming,” Apple CFO Luca Maestri said in May.

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