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Tennessee workweek grows in past 5 years
A new study of census data over the past five years by the online design platform Mixbook found that Tennesseans have increased their working hours by 5.2 hours from 39.2 hours per week in 2017 to 39.3 hours in 2022.
Nationwide, Americans are working 3.5 hours less per year.
When it comes to vacation time, the study also found that Americans have far less vacation allowance than other countries (10 days, compared to a world average of 20), and they want more.
A survey by Mixbook of 1,150 employees found that if they were given more vacation days to bring them up on par with the world average, half think they should be entitled to back pay for the 10-day shortfall. This would amount to approximately $5,775 over the past calendar year for the average employee.
CHI Memorial among top 50 heart hospitals
Redmond Regional Medical Center in Rome, Georgia, and CHI Memorial Hospital in Chattanooga were among the nation’s top 50 cardiovascular hospitals in a new ranking by Fortune magazine.
Premier, a health care improvement and technology company, prepared the list of top heart hospitals based on a review of federal data for 937 hospitals in the U.S. that treat a range of cardiovascular patients. CHI Memorial and Redmond Regional hospitals were listed among the top teaching hospitals without a cardiovascular residency program.
“Compared to the nonwinning peer hospitals, those in the Top 50 operated at lower cost and had better outcomes, recording significantly high inpatient survival rates, fewer patients with complications, lower readmission rates and from $860 to $5,076 less in total costs per patient case,” Fortune reported.
CHI Memorial has been on the Top 50 list five times.
SEC probes bank failures for crimes
The Justice Department and the Securities and Exchange Commission have launched investigations into the collapse of Silicon Valley Bank, two people familiar with the matter told The Associated Press on Wednesday.
The investigations — which are separate inquiries — are in the early stages and will also examine the actions of the bank’s senior executives, the people said.
The Justice Department’s investigation involves federal prosecutors in California, along with prosecutors involved in fraud cases, the people said.
They were not authorized to publicly discuss the specific details of the ongoing investigations and spoke to the AP on condition of anonymity.
The collapse of Silicon Valley Bank on Friday — the largest bank failure since the financial crisis of 2008 — and Signature Bank two days later have rattled markets as investors seek the safety of bonds amid renewed concerns about problems in the banking sector.
Retail sales drop 0.4% last month
America’s consumers trimmed their spending in February after a buying burst in January, underscoring the volatility of the economic environment.
The government said Wednesday that retail sales slipped 0.4% after jumping a revised 3.2% in January, helped by an increase in auto sales. Retail sales were down in November and December, the critical holiday period.
The February retail sales figure was weighed down by a 1.8% drop in auto sales as well as declines at restaurants and stores selling furniture and clothing. Excluding autos, sales slipped 0.1% from January, according to the Commerce Department.
Sales at furniture stores fell 2.5%, while business at restaurants declined 2.2% in February from January. Sales at department stores slid 4%. But shoppers spent more online and at electronics stores, health and beauty stores and food retailers, according to the report.
Shoppers remain relatively resilient, getting a boost from a strong job market. America’s employers added a solid 311,000 jobs in February, fewer than January’s huge gain. But they are grappling with still high prices on almost everything.
— Compiled by Dave Flessner
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