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    Labor activists hold a rally in support of a national $15 minimum wage on May 19, 2021, in Washington, D.C.Kevin Dietsch | Getty Images News | Getty Images As the calendar turns to 2023, workers in more than half of all states have something to look forward to this year: a higher minimum wage. That's occurring as the federal minimum wage stands pat at $7.25 per hour — the same rate since 2009. But many states and cities have put their own rates in place, and most of them are poised to increase in the new year. A total of 26 states have announced that higher minimum wages will be introduced during 2023, with one more state likely to see an adjustment in July, according to research from payroll experts at Wolters Kluwer Legal & Regulatory U.S. Meanwhile, 23 states and Washington, D.C., according to the Economic Policy Institute, will implement higher minimum wages on Jan. 1. Those increases, which will range from 23 cents to $1.50 per hour, will affect 8 million workers. The state poised to provide the...
    Voters in the cities of Duarte and Inglewood will decide next month whether to boost the minimum wage to $25 an hour for a range of workers at privately owned hospitals and dialysis clinics. The wage measures have been championed by the healthcare workers union SEIU-UHW, which has been pushing for a $25 hourly minimum at health facilities in many cities in Los Angeles County. SEIU-UHW leaders have argued that the wage hikes are crucial to retain workers who have felt devalued during the pandemic. “If the hospital was providing me more money, I wouldn’t leave,” said Victor, an emergency room technician at Centinela Hospital Medical Center in Inglewood who asked to be identified only by his first name because of concerns about employer retaliation. “I like this hospital. I know this hospital like the back of my hand.” The Inglewood hospital pays him $21.50 an hour, plus added pay for night shifts, he said. To make ends meet, he said he had been juggling two jobs, sometimes sleeping in his car, and nodding off during T-ball games when...
    A MAJOR new policy aims to boost wages – and a former state senator thinks it could have a domino effect across the country. Earlier this month, Governor Gavin Newsom of California signed legislation into law that could boost wages to as high as $22 per hour for thousands of fast-food workers. 1Former New York state senator David Carlucci weighs in on California's new law The policy establishes a fast food council that will consist of 10 members. This will allow it to set standards for hours, wages, working conditions, as well as protections for fast food workers in the state. The council will have the power to send wages as high as $22 per hour in 2023. While the new law could act as a stepping stone, some fast-food businesses will be exempt, according to former New York Senator David Carlucci. READ MORE ON EXCLUSIVESINCOME BOOST I've tried eight different side hustles - the best pays up to $9,600 per monthDEBT RELIEF Americans will have debt wiped from credit reports from TODAY boosting scores This includes establishments that make and sell bread on the premises,...
    The CEA requested that the school board provide higher wages for all teachers, smaller class sizes, heating and air conditioning inside all classrooms, full-time teachers for extracurricular classes, and a limit on the number of class periods. On August 18, the school board said that it had offered the teachers an annual 3% raise, a $2,000 bonus, and a promise to install air conditioning in classrooms. The board also mentioned that it would consider smaller class sizes. The CEA stated that it is not content with the language in the contract regarding air conditioning for classrooms. Fuentes stated, "It is with a full understanding of the sacrifices that students, parents, and teachers will make together to win the schools Columbus students deserve that CEA members overwhelmingly rejected the Board's last, best, and final offer tonight and voted to strike." In response to the picketing, the school board has scheduled an emergency meeting for Monday evening. Currently, there are no scheduled negotiations between the union and the board.
    "This is the same old song when it comes to a lot of federal programs. Create a program for a specific purpose, then expand it beyond its original intent. And then strong-arm federal agencies and states to dole out as many taxpayer dollars as possible regardless of the impact on inflation and otherwise," Reeves stated. The Mississippi governor expressed concern about fraud and the lack of incentive for residents to work. "This program has essentially become: If for whatever reason you can't pay your rent or utility bill, taxpayers will pay them for you," Reeves said. Some residents and opposition are concerned about the governor's decision to end rental assistance, citing low wages and higher housing prices. When asked if the state would be open to raising the minimum wage, Reeves stated that he was open to it. Reporters asked Reeves if he was concerned about increased evictions and homelessness as a result of the decision. The governor explained that unemployment numbers had significantly dropped as people returned to work. He expressed optimism about the local economy and discussed...
    VIDEO5:3605:36From soaring wages to used car prices, Jim Bianco warns inflation's bite is deepeningFast Money Washington's efforts to curb inflation will fall short particularly this year, according to market forecaster Jim Bianco. And, he believes this week's key inflation data will help prove it. "I don't see anything that will reduce the inflation rate. There are some things that might reduce prescription drug prices and maybe a couple of other things," the Bianco Research president told CNBC's "Fast Money" on Monday. "But will that bring down CPI? Will that bring down core CPI to a point where we can actually start pricing that in? No, I don't think so." The government releases its Consumer Price Index [CPI], which tracks prices people pay for goods and services, for July this Wednesday. Dow Jones expects the number to come in at 8.7%, down 0.4% from June. The headline number includes energy and food, unlike Core CPI. On Thursday, the government releases its Producer Price Index [PPI]. Bianco contends peak inflation may still be ahead. "Inflation is persistent. Is it going to stay 9.1%?...
    A restaurant worker at a May 26, 2021 “Wage Strike" demonstration organized by One Fair Wage in Washington, D.C.Anna Moneymaker | Getty Images News | Getty Images Workers earning minimum wage are getting an income boost in some parts of the U.S., thanks to new higher minimum pay rates that went into effect in July. Connecticut, Nevada, Oregon and Washington, D.C., all had new higher minimum wages as of July 1. Those increases come as the federal minimum wage stands at $7.25 per hour, unchanged since 2009. President Joe Biden has advocated for raising the federal minimum wage to $15 per hour for all workers. In January, an executive order he signed that raised the minimum wage to $15 per hour for federal workers and contractors went into effect. More from Personal Finance:White House plans sweeping changes to student loan systemThe job market is still 'red hot' despite recession fears 5 steps to take now to prepare your finances for a recession But efforts to raise the federal pay rate more broadly were deemed ineligible for inclusion in budget reconciliation...
    ATLANTIC CITY, N.J. (CBS) — Atlantic City casino union workers have reached a tentative agreement with their employers to avoid a strike. Workers from the Borgata, Caesars, Harrah’s, and Tropicana were threatening to walk off the job if they didn’t have a deal by 12:01 a.m. Friday. The workers, who are members of UNITE HERE Local 54, include housekeepers, bartenders, catering staff and cooks at the casinos. READ MORE: CBS3 Mysteries: Philadelphia Mother Makes Powerful Plea To Help Find James Walke's KillerThe union was demanding higher wages, claiming current salaries are lower compared to salaries at similar jobs in the market. READ MORE: Philadelphia Police Increasing Patrols Ahead Of Fourth Of July WeekendUnion representatives believe higher wages could attract more workers, which would alleviate an ongoing casino labor shortage. Details of the agreement are not available at this time. MORE NEWS: 8 Adults, 1 Juvenile Injured In Newark Drive-By Shooting: OfficialsA strike deadline remains in effect for the Hard Rock Casino. The deadline to reach a new deal there is July 3.
    ATLANTIC CITY, N.J. (CBS) — Union workers say they’ve reached a tentative deal to avoid a strike at the Borgata in Atlantic City. The workers were threatening to walk off the job if they didn’t have a deal by 12:01 a.m. Friday. A deal is still not in place at Caesars, Harrah’s and Tropicana so those workers could still go on strike. READ MORE: 2 Bodies Found In Abandoned Building In FeltonvilleThe workers, who are members of UNITE HERE Local 54, include housekeepers, bartenders, catering staff and cooks at The Borgata, Caesar’s, Harrah’s and Tropicana. READ MORE: Center City District Making Comeback More Than 2 Years After COVID-19 Pandemic Began: ReportThe union is demanding higher wages, claiming current salaries are lower compared to salaries at similar jobs in the market. MORE NEWS: Delaware County Authorities Have 'Substantial Leads' As Search Deadly Road Rage Shooting Suspect ContinuesUnion representatives believe higher wages could attract more workers, which would alleviate an ongoing casino labor shortage.
    CRIPPLING rail strikes. British Airways staff voting for a summer walkout. Teachers demanding higher pay. A cost-of-living crisis being top of voters’ minds in Thursday’s by-elections. After these events of the past week, the Prime Minister needs urgently to unveil a clear economic plan and vision. 4Rishi Sunak has already unveiled a succession of financial packages that are feeding throughCredit: PA But right now he does not have one — and it shows. Boris Johnson has to explain there is no easy way to get inflation back under control and that the next year or two will be tough. But at the same time, he has to prove he understands peoples’ concerns and is going to help. While eight million vulnerable households are set to receive £1,200 in government help this year to pay their bills, it is the squeezed middle who are also in desperate need of assistance. Read More on Rishi SunakTHE SUN SAYS Boris & Rishi must throw the kitchen sink at the economy to prevent recession Thus, tax cuts are needed. His economic vision must...
    Another Obama-era economic advisor put out a warning about inflation figures after May figures revealed that the consumer price index has jumped to a 41-year-high at 8.6 percent.  The new figures blew past expectations and dashed any hope that consumer price increases had peaked. Gas prices, meanwhile, are  averaging at $4.98 a gallon, according to AAA, well beyond double what they were when President Biden took office. 'Look, right now, you know, if you tamp down on the economy, you're going to slow price growth and you're going to slow wage growth. I don't have any obvious answer for which one of those slows more than the other,' top Obama economist Jason Furman said on CNBC Friday morning.  'Right now, we're in a bad situation where we have a lot more price inflation than wage inflation.'  'May be slow the economy, may be slow prices more than wages. I just don't know which of those slows more, so we may be helping people. But we're not in a sustainable place right now,' he said.  The new figures released on...
    by Anthony Hennen   Job quit rates have been up since the pandemic, but Pennsylvania lags behind the national average. While that may look like stability and satisfaction with one’s job, it’s a sign of a lack of opportunity for workers in the commonwealth. An analysis by WalletHub found that Pennsylvania had one of the lowest quit rates in the nation – it ranked 47th. In the last month, Pennsylvania’s resignation rate was 2.1%, with an average rate of 2.24% in the last year. The highest rates were in states like Florida (4.3%), Arizona (4.2%) and Alaska (3.9%). Generally, states in the South and West that have been growing economically had high quit rates. Low-growth states like Massachusetts and New York had some of the lowest quit rates, lagging behind Pennsylvania. The quit rates are a sign of a dynamic economy. “Whenever openings are higher, quits are higher,” Jason Furman of the Peterson Institute for International Economics wrote. Workers have the confidence that they can find a better job that suits their needs. The low quit rate in Pennsylvania is a sign that,...
    DENVER (CBS4) – Some Denver Public School employees are protesting for higher wages, saying the district’s minimum wage is not enough to survive in Denver. The minimum wage in Denver is $15.87. Protestors say the district does pay positions including paraprofessionals and facility management teams at that rate. The group gathered at Valdez Elementary School on Monday night to make their cases heard. (credit: CBS) “The cost of living keeps getting higher and higher and our pay still remains the same,” said one speaker. Protestors included employees, union representatives and parents of students. “We cannot ask these educators .. putting their lives and family member’s lives at risk to keep showing up for pay that doesn’t even cover their rent, let alone their full expenses,” said another speaker. DPS responded to the protest saying, in part, “The Superintendent is committed to increasing salaries for our lowest earning employees with the savings from the recently announced reorganization.”  
    Wall Street's main indexes opened lower on Friday as stronger-than-expected jobs data amplified investor concerns that rising wages will continue to fuel inflation and push the Federal Reserve toward faster rate hikes. At 10am, the Dow Jones Industrial average was down 468 points, or 1.42 percent. The S&P 500 lost 1.67 percent and the Nasdaq dropped 2.29 percent. It followed the Dow's worst day since the 2020 pandemic crash on Thursday, as investor sentiment cratered in the face of concerns that the Fed's interest rate hike would not be enough to tame soaring inflation.  The latest jobs report on Friday morning only heightened those concerns, showing that nonfarm payrolls increased by 428,000 jobs last month, well above the 391,000 expected by economists polled by Reuters. A trader works on the trading floor at the New York Stock Exchange in Manhattan. Wall Street's main indexes opened lower on Friday as new jobs data fueled inflation concerns The Dow dropped again following its worst day since the 2020 pandemic crash on Thursday Though the strong employment gains speak to the economy's underlying strength, fears...
    Thousands of Los Angeles County workers, including nurses, social workers and custodians, marched in downtown L.A. Thursday, demanding higher wages and less outsourcing as their union contract was set to expire at midnight. Nurse practitioners Cindy Sarami and Angeli Bautista took time off from their jobs to send a “personal message” to management. “We worked long hours throughout the pandemic in crowded settings and were told we were ‘healthcare heroes,’” said Sarami, 60, who works at El Monte Comprehensive Health Center with Bautista. “Now the county feels it’s OK to treat us like zeroes.” The contract covers about 55,000 county workers who are members of Service Employees International Union Local 721. One sticking point in the negotiations, which have gone on for the last four months after both sides agreed to a temporary six-month contract, is the size of an annual raise. According to SEIU officials, the county has offered a 2% raise each year for the next three years. At the SEIU Local 721 march in front of City Hall where union workers are protesting for a new...
    The Department of Labor said that there were just 187,000 new claims for unemployment benefits last week, the lowest level since September 1969. Since unemployment claims are a proxy for layoffs, this suggests that fewer people were thrown off the job last week than any time since Richard Nixon’s first year in the White House. This actually understates just how tight the U.S. labor market is right now. Back in 1969, the total U.S. workforce was around half the size it is today, and the inflation-adjusted size of the economy was about one-quarter of what it is today. So those 182,000 unfortunates who went on the dole back in the first week of September 1969 were a bigger part of the workforce than this year’s 187,000. Economists are constantly telling us that jobless claims can be volatile from week to week, so it is better to look at the four-week moving average of claims. This fell to 211,750 from 223,250. And while we are sure President Joe Biden will eagerly claim credit for this very low level of unemployment, it should...
    New York (CNN Business)American consumers are getting pummeled from all sides: Supply chain constraints and high demand mean delays for products and rising costs. Now gas prices are soaring on the back of the Russia-Ukraine conflict, creating an even more bitter cocktail.An early look at how Americans are feeling about the economy in March found that US consumer sentiment declined more than expected, the University of Michigan reported Friday. The index of consumer sentiment dropped to 59.7 points, the lowest level since 2011."The greatest source of uncertainty is undoubtedly inflation and the potential impact of the Russian invasion of Ukraine," said Richard Curtin, chief economist at the Surveys of Consumers.While high inflation was already affecting household finances, higher gas costs are just adding fuel to the fire. Have you been affected by rising gas prices? Tell us about it.In the year ahead, survey respondents expect inflation at levels similar to 1981, when price increases hit double digits. On Thursday, the Bureau of Labor Statistics reported that consumer prices rose to their highest level since January 1982 in the 12...
    ATWATER VILLAGE, LOS ANGELES (KABC) -- Economists were predicting the U.S. would add 400,000 jobs in February. Instead, the U.S. added 678,000 jobs with unemployment now at 3.8%.That's almost back to pre-pandemic levels, which saw 3.5% unemployment.President Joe Biden believes the February jobs report signals that the U.S. is in a good spot to take on inflation. The businesses that survived the pandemic say with the omicron surge over, sales are on their way up, but issues remain.Businesses in Atwater Village say they continue to have difficulty filling openings so they have turned to raising wages to keep staff and attract new employees in a competitive job market."We definitely had to put out feelers and do interviews. We had to work a little bit harder to find them and maybe I just feel like we got lucky," said Michelle Pedersen, one of the owners of Treehaus Boutique in Atwater Village."We have had staffing issues for sure," said Carrissa Morin of Proof Bakery in Atwater Village. "Last year was really, really difficult for us, especially in the summer when things started...
    VIDEO5:1005:10Chicago Fed President Evans: February jobs report doesn't change Fed's planSquawk Box Small businesses will be facing growing challenges from inflation and higher wages, Chicago Federal Reserve President Charles Evans said Friday. Even with average earnings flattening out in February, Evans told CNBC that he hears from smaller companies in his district about the challenges from cost increases. "I think there are a lot of business models, especially for small businesses, that are going to be challenged for the future," the central bank official told CNBC's Steve Liesman during a "Squawk Box" interview. "They're going to be asked to pay higher wages, and you know if inflation is going up, it's the real wage that's going to equate demand and supply." Evans spoke just after the Labor Department's Bureau of Labor Statistics reported that the economy added 678,000 nonfarm jobs in February, considerably higher than expected. The count also indicated that wages rose little over the month and were up 5.1% from a year ago, though that was less than the Wall Street estimate. Still, even that yearly level is...
    Federal Reserve Chairman Jerome Powell said that Russia’s continued invasion of Ukraine will drive oil prices up and that the central bank stands prepared to deal with the fallout. Powell, a Republican who was recently renominated by President Joe Biden to lead the Fed, said in testimony before Congress on Wednesday and Thursday that energy prices are likely to rise, at least briefly, hurting households and business — but that the central bank will ensure that the spikes will not translate into even higher inflation. The testimony comes two weeks before the central bank is set to hike interest rates for the first time in years and, while inflation was at top of mind for lawmakers, Russia’s war was the main topic of discussion. While the conflict is happening thousands of miles away, it is having effects on the domestic economy. Futures for Brent crude oil have climbed to nearly $114 per barrel, a sharp increase from the $95 level oil was at prior to the Russian invasion. That increase in energy prices worried some lawmakers who...
    U.S. businesses are finding it easier to pass on increased costs to their customers and expect to keep raising prices in the months ahead, the Federal Reserve said on Wednesday. The Fed, in its latest Beige Book report that collects business anecdotes from around the country, said that prices charged to customers increased at a “robust pace” across the United States. A few districts even reported an acceleration of prices. Gone is any hint that inflation might be transitory, something Fed officials believed last year. There is also no indication that the favored narrative of the Biden administration–that prices have been pushed up by corporate greed and monopolistic profits–is supported by data. Instead, businesses say they are raising prices because their own costs are rising. “Rising input costs were cited as a primary contributing factor across a broad swath of industries, with elevated transport costs particularly significant. Labor cost increases and ongoing materials shortages also contributed to higher input prices,” the Fed said. Demand remains strong despite the increases, bolstering the confidence of businesses that they will be able to...
    Emergency medical technicians protested Monday for higher wages in Los Angeles and Orange counties, arguing that paltry pay had drained workers from their company, hampering its response times. “Fifteen dollars — the minimum wage — is not enough money for the work that you guys do,” Phil Petit, national director of the International Assn. of EMTs and Paramedics, told dozens of Care Ambulance workers clad in red shirts outside Los Angeles City Hall. “They are not treating you like professionals,” Petit told the crowd. “They are not treating you like the people working at Del Taco get treated. ... It’s unacceptable, and it ends now.” Union officials said that many Care EMTs in L.A. and Orange counties are being paid roughly $15 or $16 an hour, which they said was below nearby competitors. Workers picketed Monday in downtown Los Angeles and outside the offices of the L.A. County and Orange County emergency medical services agencies, holding up signs that read “Fair Pay for First Responders” and “Is Your Life Worth More Than Minimum Wage?” EMTs at the company tend to...
    SAN JUAN, Puerto Rico (AP) — Four men walked to the parking lot before dawn, then sat down blocking the entrance and linked their arms to await the arrival of hundreds of federal and state employees for the work day. Protesting years without pay raises, the four employees of Puerto Rico’s Authority of Roads and Transportation refused to budge. A specialized police unit finally moved in to remove them, and as they were put in handcuffs, one of the men yelled: “Fair salary! Give us what you owe us!” It’s a cry that has echoed across Puerto Rico in recent weeks as government employees and supporters take to the streets, emboldened by thousands of public school teachers who abandoned classrooms in early February to demand raises and better pensions. Protests are multiplying, with union leaders calling another demonstration for Friday, and social unrest is posing one of the biggest challenges for Gov. Pedro Pierluisi a year into his term. “The people kicked the U.S. military out of Vieques. They kicked out a governor. We can make this happen,” said...
    Getty Images Just months after a federal $15 minimum wage failed to take shape, Californians may get the chance to vote on even higher minimum hourly pay. A measure to raise the state's minimum wage to $18 began to collect signatures in February. If the campaign, called the Living Wage Act of 2022, gets 700,000 signatures, it will be on California's November ballot. "The purchasing power of the minimum wage declines over time," said Joe Sanberg, an entrepreneur and sponsor of the legislation. "That means that we have to keep fighting for an increased minimum wage to make sure that working people can afford life's basic needs." More from Invest in You:Small business owners are optimistic, but still face challengesInflation is at its highest in 40 years. How raising interest rates could helpThis company found a cure for employee burnout: a four-day workweek If signed into law, the measure would gradually raise the minimum wage in California to $18 from $15 by 2025. That means that it would increase to $16 in 2023 and $17 in 2024. This would apply...
    VIDEO1:2901:29What your monthly budget will be if you retire with $1 millionInvest in You: Ready. Set. Grow. The economy is recovering but workers are still having a hard time making ends meet. While real wages are on the rise, they can't keep up with the increased cost of living, which is growing at the fastest annual pace in about four decades. Over the past year, inflation eroded pay by 1.7%, according to the U.S. Department of Labor. More from Personal Finance:Inflation eroded pay by 1.7% over the past yearInflation, high gas prices contributing to financial anxietyCompanies are expecting to give 3.4% raises in 2022 At the end of 2021, 61% of the U.S. population was living paycheck to paycheck, down slightly from a high of 65% in 2020, according to a recent LendingClub report. Even among those earning six figures, 42% said they were living paycheck to paycheck, the survey of more than 3,000 adults found. "Increasing prices are impacting a lot of Americans," said Shelly-Ann Eweka, senior director of financial planning strategy at TIAA. "Higher wages will help workers have additional...
    The sign at the McDonald's restaurant on Penn Ave in Sinking Spring, PA April 8, 2021 with a message on a board below it that reads "Work Here $15 And Free Meals".Ben Hast | MediaNews Group | Getty Images Too much of a good thing, in the form of rapidly rising wages, is expected to push Federal Reserve interest rate hikes at an even faster pace. Average hourly earnings jumped 0.7% in January and are now running at a 5.7% pace over the past 12 months, according to Labor Department data released Friday. Excepting a two-month period during the early days of the pandemic, that is by a wide margin the fastest-ever move in data going back to March 2007. While that has come as welcome news to workers, it's posed a further quandary for the Fed, which increasingly is being seen as falling behind in terms of policy and having to catch up to inflation that is running at its fastest pace in nearly 40 years. "If I'm the Fed, I'm getting more nervous that it's not just a...
    Thousands of Puerto Rican teachers left their classrooms Friday to protest for higher wages and better working conditions in the midst of an economic downturn, The Associated Press reports. More than 70 percent of teachers were absent from schools, gathering in the city centers of San Juan, Mayaguez and Aguada, where they marched and banged on pots to gain recognition for their cause. Some schools were completely devoid of teachers. “We are tired, tired of not being recognized,” said one elementary school teacher quoted by the AP. “It’s about time that teachers rise up and explain to the world the value of their profession.” The teacher, Joalice Santiago, said that she and many of her colleagues have to work two or three jobs to make a living wage. Puerto Rico is struggling economically in the wake of Hurricane Maria and a number of earthquakes. The prices of food, water and power are rising even as the territory works to emerge from bankruptcy. Puerto Rico’s Association of Teachers recently spurned a plan that would increase teacher salaries to $2,220 a month rather...
    SANTA FE SPRINGS, Calif. (KABC) -- Elvia Castillo went on strike for the first time back in November 2021."Just by seeing them on the picket line, it makes you strong," she said of the now months-long strike at a rally Thursday. For 15 years, Castillo has decorated cakes that end up at retailers like Baskin Robbins, Cold Stone Creamery, and Safeway.Some supply lines finish as many as 36 cakes per minute, said Castillo. "Our line is between 12 and 11 per minute," she added. Roughly 100 workers are on strike, while a few dozen continue to working, according to the union that represents the workers, Bakery, Confectionery, Tobacco Workers, and Grain Millers (BCTGM) International Union Local 37.In April, Maria Palomo will have worked at the company for 22 years. She said the long, fast-paced work is tough on her hands, and believes they deserve a fair raise given increased demands for production. They're asking for a $1 per hour increase each year for three years. "It's a union contract and some workers have been there for about 19 years and...
    SAN JUAN, Puerto Rico (AP) — Hundreds of teachers across Puerto Rico left their classrooms and took to the streets on Friday to demand higher wages, improved working conditions and better pensions amid an economic crisis. Several schools were completely void of teachers as protesters gathered in the capital of San Juan and other cities including Mayaguez and Aguada and marched, clapped and banged on pots while supporters honked their horns as they drove past. “We are tired, tired of not being recognized,” said Joalice Santiago, a 34-year-old who teaches Spanish and science to fourth and fifth graders. “It’s about time that teachers rise up and explain to the world the value of their profession.” She said she tutors after school to boost her salary and that many teachers in Puerto Rico are forced to work two or three jobs to make ends meet as the cost of food, power and water increases as the island struggles to emerge from bankruptcy and tries to recover from Hurricane Maria and a spate of strong earthquakes. The protest is the biggest one...
    New York (CNN Business)Lots of workers are getting raises, but for many, the pay hikes won't buy them more at the grocery store or car dealership. In fact, wages are behind where they were when the pandemic began, if you take rising prices into account.Inflation-adjusted wages, which have been falling steadily since mid-2020, are 1.2% below where they were in December 2019, according to an analysis of Employment Cost Index quarterly data by Jason Furman, an economics professor at Harvard University. The index measures wages and salaries, along with health, retirement and other benefits.Over the last year, inflation-adjusted wages dropped 2.4%.But there are workers in a few industries who are eking out small pay increases after accounting for the jump in prices. Have you had a tough time finding a job for months? Tell us about itEmployees in the leisure and hospitality sector -- which includes waiters, cooks and hotel clerks -- have seen their inflation-adjusted wages rise 2% since December 2019. Read MoreBut even these workers aren't doing as well as they did prior to the pandemic, when their...
    On Wednesday’s broadcast of CNN’s “OutFront,” economist Larry Summers said that there is “a real problem” with inflation that “was a foreseeable problem a year ago,” and “we’re looking at a situation right now that is fundamentally unsustainable.” But “by continuing to believe this narrative of transitory inflation and it’s all going to be okay, we’ve gotten ourselves way behind where it’s much harder to deal with than it would have been if we had understood more fully what our problem was six months ago.” Summers also argued that there’s “a substantial risk” of “a wage-price spiral, in which higher wages lead to higher prices and higher prices lead to higher wages and we’re off to the races.” Summers said, “Look, we have a real problem. I think it was a foreseeable problem a year ago, given the amount of money that was infused into the economy. But it took seven years after the Vietnam War started to get inflation up to this level. Inflation’s now 50% higher than it was when Richard Nixon imposed price controls to stop what...
    DENVER (CBS4) – Thousands of King Soopers employees walked off the job on Wednesday marking the first day of what could be a lengthy strike against the company. King Soopers grocery store worker Lawrence Kelly, left, waves at passing drivers as he joins his fellow union members as they strike across the Denver metro area on Jan. 12, 2022 in Denver. (credit: Michael Ciaglo/Getty Images) “I came in at noon and started striking at about 12:30 p.m.,” one employee told CBS4. “I will stand out here for three months to get our people better wages,” another said. It comes as the United Food and Commercial Workers Local 7, denied what King Soopers Division President Joe Kelley called their best and final offer. “We increased the wages from $148 million to $170 million and that’s one addition to the health and welfare medical plan that we have on the table which is a solid plan and they also have a pension,” he said. Union President Kim Cordova says the company isn’t being transparent and that the offer the company presented to...
    A San Francisco grocery store.David Paul Morris/Bloomberg via Getty Images Inflation is taking a big bite out of workers' paychecks, eroding many of the raises businesses have offered to attract and keep employees in a hot job market. But strong wage growth in certain sectors, such as hotels and restaurants, has eclipsed those consumer price leaps — at least for now. The biggest raises have come in some of the country's lowest-paying jobs, helping insulate cash-strapped households from rising prices for staples like food. More from Personal Finance:Rising inflation may affect your 2021 tax billTax filers should expect delaysBank of America is cutting overdraft fees The Consumer Price Index, a key inflation measure, jumped 7% in December from a year ago, the fastest rate since June 1982, the U.S. Department of Labor said Wednesday. The index accounts for costs across many goods and services, from alcohol to fruit, airfare, firewood, hospital services and musical instruments. On average, a consumer who paid $100 a year ago would pay $107 today. Average pay also jumped significantly in 2021 — to more than...
    Millions of low-wage workers are starting the new year with a pay increase as new laws take effect in dozens of states and cities across the country. Minimum wages rose in 21 states and 35 cities and counties at the new year, according to the National Employment Law Project (NELP). Two of those states — California and New York — increased the minimum wage to $15 an hour for employees of large corporations.  The number of states raising minimum wages this year is higher than any previous year. The hikes come a decade after fast food workers went on strike across the nation, kicking off a campaign to increase wages to at least $15 an hour. That campaign has raised wages for 26 million workers, according to NELP data. The group, which supports raising the minimum wage, estimated that the hikes have directed $150 billion in additional pay to those workers.  “These record increases are the result of underpaid workers organizing, demanding, and winning higher wages,” wrote Yannet Lathrop, a senior researcher and policy analyst at the think tank. “This...
    Lynne Sladky/AP Fight disinformation. Get a daily recap of the facts that matter. Sign up for the free Mother Jones newsletter.Back in 2012, a group of 200 fast-food workers in New York City walked off the job to demand a $15 minimum wage and a union. Their protest seeded what has become known as the “Fight for 15” movement, which has spent the last decade working to raise the minimum wage across the country Now in its 10th anniversary year, this movement will see record success in 2022 as 25 states and 56 local jurisdictions increase wage floors for workers, according to a report from the National Employment Law Project released at the end of last month. Twenty-one of those states raised wages on New Years Day, along with 35 cities and counties. The remaining increases will take effect later in the year, and the majority of these wage hikes will reach or exceed $15 per hour for some or all employers. “Since the first Fight for $15 protest in 2012, the movement has grown tremendously, accelerated by the pandemic’s...
    A shopper walks by a sign displaying $1.25 price, posted on the shelves of a Dollar Tree store in Alhambra, California, December 10, 2021. The store is known for its $1 items, but due to inflation raised prices to $1.25.FREDERIC J. BROWN | AFP | Getty Images More than half of U.S. states are raising minimum wages next year, but employers are moving even faster on pay increases. Salary budget increases set by employers for 2022 are higher than they have been in at least a decade, with 99% of employers planning raises and many planning increases of 5% to 6% in 2022, according to compensation consulting firm surveys. Deloitte's fourth quarter CFO Signals survey funds 97% of CFOs saying that labor costs will increase substantially in 2022. Top companies are aggressively fighting for talent and fighting their own employees' demands for higher pay to fight inflation. Apple is reportedly even paying rare $180,000 stock bonuses to keep engineers for going to tech rivals. But while the Federal Reserve says wage inflation is a factor to monitor in 2022, it...
    DOZENS of Amazon warehouse workers staged a walkout in protest to demand better treatment and higher wages during the holiday rush. The pre-Christmas strike took place at two Amazon warehouse locations in Staten Island and Cicero, Illinois, on Wednesday. 1Dozens of Amazon warehouse workers staged a walkout in protest of better treatment and higher wagesCredit: REUTERS Workers at four Staten Island facilities staged a “lunchtime walkout,” slamming “unfair labor practices committed by Amazon” including illegal interference with union organizing, according to a statement from activists. More to follow... For the latest news on this story keep checking back at Sun Online. The-sun.com is your go-to destination for the best celebrity news, sport news, real-life stories, jaw-dropping pictures and must-see video. Like us on Facebook at www.facebook.com/TheSunUS and follow us from our main Twitter account at @TheUSSun. We pay for your stories!Do you have a story for The US Sun team? Email us at exclusive@the-sun.com or call 212 416 4552. Like us on Facebook at www.facebook.com/TheSunUS and follow us from our main Twitter account at @TheSunUS
    Columbia University canceled 130 classes after unionized graduate student workers quit teaching on Nov. 3 in protest for higher wages, more benefits and a new arbitration process for discrimination and harassment claims, according to the union. The Student Workers of Columbia, which represents 3,000 graduate and undergraduate student workers, voted to initiate a strike after Columbia University offered to mediate with the group, according to an email from Columbia leadership obtained by the Daily Caller. Teaching assistants, research assistants, and graduate students who teach their own classes stopped working and began picketing following the union’s vote. The union went on strike in the spring of 2021 as well. According to an email sent from Provost Mary Boyce and reviewed by the Daily Caller, the university offered mediation one week before the strike began. “The University offered mediation over two weeks ago — more than a week before the strike started — and subsequently repeated the offer, which has not yet been endorsed by the Union,” Boyce said. “We believe mediation can be especially helpful in scenarios such as this one,...
    PHILADELPHIA (CBS) — Drivers who work for the digital delivery service Gopuff went on strike Tuesday, and they say they’re unhappy about low wages and poor working conditions. With over 500 locations across the United States, Gopuff prides itself on ultra-fast delivery. On Tuesday, drivers caused disruption to call attention to what they consider unfair conditions. READ MORE: WATCH: Police Searching For Suspects In North Philadelphia ShootingA now $15 billion dollar company founded by two Drexel University students eight years ago is now being called out. Protests weren’t only happening at Gopuff’s headquarters on Spring Garden Street. Hundreds were set to strike here in Pennsylvania as well as several states across the country, demanding better pay, flexible shifts and termination protection from the owners of Gopuff. “Even as independent contractors, they have any reason at all, without giving us one, that we are deactivated from the platform as drivers,” Gopuff driver Tex Mackenzie said. Although a company representative tells CBS3 average earnings across the country are $18 to $25 per hour, drivers claim their salary has steadily decreased over time...
    The Young Turks founder and host Cenk Uygur roasted Stephanie Ruhle and her network over her claim President Joe Biden’s infrastructure plan will contribute to inflation by increasing wages. On Friday’s edition of the pioneering online news program, co-hosts John Iadarola and Nina Turner joined Uygur to discuss the segment at issue: a clip from MSNBC’s Stephanie Ruhle Reports in which Ruhle told her panel that the infrastructure plan will negatively affect inflation. “I am going to laugh at this idea that the infrastructure bill is going to help with inflation, all that’s going to do is create more jobs,” Ruhle said, and went on to add that “We don’t have enough people to fill our current jobs, and this argument, ‘they’re going to be jobs at higher wages,’ higher wages are one of the contributing factors to inflation.” Iadorola reacted to the clip by that “they pretend that they don’t have a bias, but clearly there is a bias, and the bias is against higher wages.” Uygur began by derisively noting ” that is on MSNBC, that is a...
    In this article SBUX DPZ MCD QSR-CA CMG Employees prepare orders for customers at a Chipotle Mexican Grill restaurant in Hollywood, California.Patrick T. Fallon | Bloomberg | Getty ImagesCustomers are returning to restaurants in droves, but workers haven't, putting even more pressure on fast-food chains to retain market share and protect profits while navigating a tight labor market. Restaurant executives have painted a bleak picture of staffing challenges to investors on their earnings calls in the last two weeks. CEOs like Domino's Pizza's Ritch Allison, Chipotle Mexican Grill's Brian Niccol and McDonald's Chris Kempczinski shared details on how eateries have shortened hours, restricted ordering methods and lost out on sales because they can't find enough workers. Some chains have been hit harder by the labor crunch, like Restaurant Brands International's Popeyes, which saw about 40% of its dining rooms closed due to understaffing. "This is kind of where we're separating the wheat from the chaff," said Neuberger Berman analyst Kevin McCarthy. Raising wages is one popular approach to staffing problems, although it isn't a perfect solution. McDonald's wages at...
    WASHINGTON (AP) — Wages and salaries jumped in the three months ending in September by the most on records that date back twenty years as companies are forced to offer higher pay to fill a near-record number of available jobs. Pay increased 1.5% in the third quarter, the Labor Department said Friday. That’s up sharply from 0.9% in the previous quarter. The value of benefits rose 0.9% in the July-September quarter, more than double the preceding three months. The figures demonstrate that workers are gaining greater leverage in the job market and are able to command higher pay, more benefits, and other perks like flexible work hours. With more jobs available than there are unemployed people, government data shows, businesses have been forced to work harder to attract staff. Millions of Americans are responding to rising wages by quitting their jobs for better-paying positions. In August, nearly 3% of American workers quit their jobs, a record high. A higher number of quits also means companies have to raise pay to keep their employees. In the year ending in September,...
    HARRISBURG, Pa. (AP) – In a stalemate with lawmakers over raising the minimum wage or requiring companies to have paid sick leave, Gov. Tom Wolf said Thursday he will impose those requirements on companies getting loans, grants or tax breaks from the state. The minimum wage that incentives-receiving companies must pay is $13.50 an hour, rising to $15 an hour on July 1, 2024, under an executive order signed by Wolf. State contractors already must pay that amount, under a prior executive order Wolf signed in 2016. The sick pay requirement has no required time frame attached to it. READ MORE: Report: Ben Simmons Not 'Mentally Ready' To Play For Sixers, Out IndefinitelyThe state annually budgets for tens of millions of dollars in grants, loans and tax breaks for companies that make certain promises to expand in Pennsylvania. Pennsylvania’s minimum wage has been set to the federal minimum wage of $7.25 an hour since 2009, when Congress last increased it. READ MORE: Eagles' Jason Kelce Says 'Lack Of Accountability' To Blame For Sixers, Ben Simmons DramaSince Wolf took office in...
    More than 10,000 Deere & Co. workers went on strike Thursday, the first major walkout at the agricultural machinery giant in more than three decades. The strike demanding higher wages comes as workers leverage their increased power in a tight labor market to demand a bigger piece of the profits at successful firms. Deere, due to report full-year results in late November, has forecast a record net income of $5.7 billion to $5.9 billion, and workers believe they can take advantage of the national labor shortage to demand that the company share the wealth. Workers are angry that Deere CEO John May, who earned nearly $16 million in his first year in the role last year, makes 220 times more than the median company salary of $70,743. United Auto Workers, the union representing Deere workers, had said its members would walk off the job if no deal has been reached Wednesday.  Scroll down for video  John Deere employees picket outside John Deere Davenport Works Thursday in Iowa. Over 10,000 John Deere employees began their strike at 11:59pm Wednesday Deere, due...
    President Joe Biden’s border security chief is promising to end the workplace enforcement of migration laws and to help illegal migrants get higher wages from their U.S. employers. Alejandro Mayorkas, the Cuban-born refugee and pro-migration zealot who now runs the Department of Homeland Security, portrays his “Worksite Enforcement Strategy” as a benefit for both illegals and Americans. He wrote: We will not tolerate unscrupulous employers who exploit unauthorized workers, conduct illegal activities, or impose unsafe working conditions … By adopting policies that focus on the most unscrupulous employers, we will protect workers as well as legitimate American businesses. Mayorkas told the Wall Street Journal: The message is, exploitative employers should beware. Businesses that merely employ [illegal] immigrants not authorized to work but offer them fair wages and safe working conditions wouldn’t be a priority for immigration enforcement, he added. Federal law bars the employment of illegal migrants but Mayorkas “does not want to enforce that law,” said Rob Law, the director of regulatory policy for the Center for Immigration Studies. Law continued: Mayorkas actually wants to encourage illegal aliens to get...
    A Now Hiring sign at a Dunkin' restaurant on September 21, 2021 in Hallandale, Florida.Joe Raedle | Getty Images The restaurant industry's unemployment rate fell to 7.5% in September but remains well above pre-pandemic levels, providing another worrying sign that the labor crunch isn't going to disappear anytime soon. Food services and drinking places added just 29,000 new jobs in September, according to the Department of Labor's report released Friday. The overall unemployment rate fell to 4.8% during the month, and nonfarm payrolls only increased by 194,000, falling short of estimates. The lack of willing workers has pushed bar and restaurant owners to cut their operating hours, raise wages and offer better benefits to attract and retain employees. This summer, for the first time, wages for restaurant workers surpassed $15 an hour, according to the Bureau of Labor Statistics. Hourly pay for leisure and hospitality jobs rose to $18.95 in September, up 10 cents from the prior month. "There is no doubt that hiring is the number one challenge that our franchisees are seeing," said Craig Dunaway, president of the...
    London (CNN Business)The United Kingdom is suffering from fuel shortages, gaps on supermarket shelves, rising inflation and slowing economic growth. Prime Minister Boris Johnson insists he isn't worried — but should he be?Johnson has in recent days brushed aside concerns about snarled supply chains and price hikes, saying they are consistent with his plans to force companies to pay higher wages to British workers following Brexit instead of relying on cheaper foreign labor.To bolster his argument, the prime minister has made bold but narrow claims about the strength of the UK economy, the benefits of wage increases and level of investment. A broader look at the UK economy paints a very different picture.UK growthJohnson appeared on the BBC on Sunday, mounting a defense of his economic record as the annual conference of his Conservative Party got underway. The prime minister speaks to his party faithful on Wednesday.Boris Johnsons reign is becoming one long crisisRead MoreThe United Kingdom is the "fastest-growing" of the G7 grouping of the world's most advanced economies, Johnson said as he faced questions about fuel shortages that...
    MITO, Japan (AP) — Fumio Kishida, the man soon to become Japan’s prime minister, says he believes raising incomes is the only way to get the world’s third-largest economy growing again. Nearly a decade after long-serving Prime Minister Shinzo Abe vowed to “make Japan great again,” Japan is in a holding pattern, stalled both by the pandemic and by chronic problems such as an aging and shrinking population, growing inequality and stagnant incomes. Topping Kishida’s to-do list is another big dose of government spending to help Japan recover from the COVID-19 shock. Kishida says he wants to promote a “new capitalism” that would be more equitable, with fairer distribution of national wealth — the only way to get frugal Japanese families to spend more. “Unless the fruits of growth are properly distributed, a ‘virtuous cycle of growth and distribution’ cannot be realized,” he told reporters after he overwhelmingly was elected leader of the ruling Liberal Democratic Party on Wednesday. “I would like to take economic measures to raise the incomes of many of you.” Despite his ambitious...
    U.S. businesses are experiencing escalating inflation that is being aggravated by a shortage of goods and likely will be passed onto consumers in many areas, the Federal Reserve reported Wednesday. In its periodic "Beige Book" look at the nation's economic picture, the central bank also reported that growth overall had "downshifted slightly to a moderate pace" amid rising public health concerns during the July through August period that the report covers. "The deceleration in economic activity was largely attributable to a pullback in dining out, travel, and tourism in most Districts, reflecting safety concerns due to the rise of the Delta variant, and, in a few cases, international travel restrictions," the report said. Rising inflation pressures are part of that picture in which a shortage of workers is being met by higher salaries. The report noted that inflation is "steady at an elevated pace," with half the Fed's 12 districts reporting "strong" pressure while thee other half said it was "moderate." However, the details of the report show that the issue is growing. "With pervasive resource shortages, input price...
    Happy Labor Day, if a Labor Day that represents the cut-off date for unemployment benefits for millions of people and on which the federal minimum wage hasn’t risen for well over a decade offers much to be happy about. But it is a day to celebrate workers—and the labor movement that has built what power U.S. workers have. So let’s take a few minutes to make clear the difference that unions have made, both to their members and to all workers. That second point is an important one: Unions lower economic inequality. As union membership has dropped, the share of income going to the top 10% of people has risen. And higher union density means higher wages for nonunion workers, as employers are forced to try to keep up. “Had union density remained at its 1979 level,” according to the Economic Policy Institute, “weekly wages of nonunion men in the private sector would be 5% higher (that’s an additional $2,704 in earnings for year-round workers), while weekly wages for nonunion men in the private sector without a college education would be 8%, or $3,016...
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