To help you understand what the Biden administration is doing to combat a growing child labor problem in the U.S., and what we expect to happen in the future, our highly experienced Kiplinger Letter team will keep you abreast of the latest developments and forecasts (Get a free issue of The Kiplinger Letter or subscribe). You'll get all the latest news first by subscribing, but we will publish many (but not all) of the forecasts a few days afterward online. Here’s the latest…
The Biden administration wants to tackle a growing child labor problem. Child labor violations reached a two-decade high in fiscal year 2023. Per data kept by the Labor Department, 5,729 minors were found working in violation of federal law, up from 3,876 last year and 1,163 in 2014. Since 2018, child labor has gone up 69%.
Experts blame a variety of factors for the surge, from the historically tight labor market prompting employers to hire minors to high inflation inflicting more hardship on households. The U.S. has also seen an influx of migrant children from Latin America fleeing violence and poverty, a majority of whom do not have a parent in the U.S.
Uncle Sam is starting to crack down, levying $8 million in penalties on employers for child labor violations in the fiscal year 2023, up 83% from 2022.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
The president has asked for an extra $100 million to aid enforcement as part of the White House’s $100 billion-plus supplemental funding request to Congress, but it’s unclear whether the money will survive once the request has been picked over.
Federal labor law prohibits children younger than 14 from working, and all minors from working in industries the Department of Labor deems hazardous.
This forecast first appeared in The Kiplinger Letter, which has been running since 1923 and is a collection of concise weekly forecasts on business and economic trends, as well as what to expect from Washington, to help you understand what’s coming up to make the most of your investments and your money. Subscribe to The Kiplinger Letter.
Related Content
-
Stock Market Today: Have We Seen the Bottom for Stocks?Solid first-quarter earnings suggest fundamentals remain solid, and recent price action is encouraging too.
-
Is the GOP Secretly Planning to Raise Taxes on the Rich?Tax Reform As high-stakes tax reform talks resume on Capitol Hill, questions are swirling about what Republicans and President Trump will do.
-
The Economic Impact of the US-China Trade WarThe Letter The US-China trade war will impact US consumers and business. The decoupling process could be messy.
-
Trump Dials Back Most Tariffs but Targets ChinaThe Kiplinger Letter Wall Street hopes that higher tariffs on most countries are on hold for good. But the trade war between the U.S. and China is heating up.
-
Trump's Sweeping New Tariffs Rattle Wall Street, Main StreetThe Kiplinger Letter Trump is promising that the short-term pain of steep new tariffs on imports will spark a manufacturing renaissance. But they pose major risks in the near term.
-
Congressional Republicans Tackle Trump's AgendaThe Kiplinger Letter Despite slim majorities in both chambers, the GOP is gearing up to overhaul taxes, border security and more.
-
What DOGE is Doing NowThe Kiplinger Letter As Musk's DOGE pursues its ambitious agenda, uncertainty and legal challenges are mounting — causing frustration for Trump.
-
A Move Away From Free TradeThe Letter President Trump says long-term gain will be worth short-term pain, but the pain could be significant this year.
-
Trump’s Whirlwind Month of Crypto MovesThe Kiplinger Letter The Trump administration wants to strengthen U.S. leadership in the cryptocurrency industry by providing regulatory clarity.
-
Trump's Foreign Policy OverhaulThe Kiplinger Letter Trump’s return as president sees the commander in chief aiming to complete the shift to an “America first” policy that started in his first term.
