Brooklyn Leads Economic Growth in NYC

May 28, 2014
By Neal Tepel

Brooklyn, NY - Brooklyn’s economy is rapidly expanding, adding jobs and businesses at a faster pace than the rest of New York City between 2003 and 2012. This according to an economic snapshot of Brooklyn released by New York State Comptroller Thomas P. DiNapoli. Kings County is now a leader in business and job expansion in New York State.

Jobs for New Yorkers' Initiative

May 23, 2014
By Stephanie West

New York, NY — Mayor Bill de Blasio has announced the 30 members of Jobs for New Yorkers’ that will develop real-time strategies to strengthen the city’s workforce and help workers develop the skills needed to secure good paying jobs in fast-growing careers. The task force will help shift the City’s approach to focus on employment for New Yorkers in skill-building, higher-wage jobs that offer opportunities for advancement.

NYS Summer Jobs Program Announced

May 23, 2014
By Stephanie West

Albany, NY - Governor Andrew M. Cuomo has announced that more than 18,000 young people from low-income households will gain valuable work experience, and a much-needed paycheck, through New York State’s Summer Youth Employment Program.

NYS Pension Fund Reaches Record High

May 20, 2014
By Stephanie West

The New York State Common Retirement Fund is now valued at an estimated $176.2 billion, the highest amount ever. The pension fund has reached an estimated 13.02 percent rate of return. “It was a stellar year for us. The Fund grew in value to a historic high of $176.2 billion," DiNapoli said.

How to Protect your Organization & Funds from Fraud

May 19, 2014
By Michael Fina,
Vice President / Institutional Banking, First Trade Union Bank

A slow economy like we’ve experienced in recent years can have many repercussions on a business. One negative impact that owners often don’t think about is a possible increase in fraud and embezzlement.

What’s Work Worth? Comparing International Minimum Wages

May 12, 2014
By Steven Wishnia

Germany, one of the highest-wage countries in the world, has no legally set minimum pay. Neither do Sweden, Finland, Denmark, Austria, and Italy. The reason, German economist Thorsten Schulten said April 29, is that with more than 85% of these countries’ workers covered by collective-bargaining agreements, unions believe they’re strong enough to guarantee good wages, and asking the government to do it would be “an expression of weakness.”

IAM President Buffenbarger Defends Retiree Pensions

May 12, 2014
By Neal Tepel

Washington, DC - The president of the International Association of Machinists and Aerospace Workers (IAM) is calling on members of Congress to reject any legislation that allows pension fund administrators to reduce or eliminate the pension benefits of retired workers.

City Council Proposes $74 Billion Budget

May 8, 2014
By Steven Wishnia

Expanding summer youth jobs, reducing outsourcing, hiring 1,000 new police officers, making school lunches free, and helping homeless people obtain housing are among the priorities in the City Council’s preliminary budget for fiscal year 2015, released April 23.

High-Tech is on The Rise in NYC

April 30, 2014
By Stephanie West

New York, NY - High-tech is one of the fastest growing industries in New York City, growing four times faster than the rate of job growth in the rest of the city’s economy, with annual salaries that are well above the citywide average.

Comptroller Stringer: Crisis in Affordable Housing

April 24, 2014
By Stephanie West

New York, NY—Housing in New York City became less affordable since 2000 as the median apartment rent rose by 75 percent while real incomes declined, according to “The Growing Gap: New York City’s Housing Affordability Challenge,” a report issued by New York City Comptroller Scott M. Stringer. 

Minimum Wage Increase in NY

April 21, 2014
By Neal Tepel

New YorK, NY - As efforts to increase the minimum wage to $15 an hour continue to move forward in Seattle and San Francisco, a group of New York lawmakers introduced a bill to raise the minimum wage to $15 an hour for many low-wage workers in the state. The minimum wage increase would affect business with yearly sales of $50 million or more and chains with at least 11 locations nationwide.

High Paid CEOs in the Low Wage Economy

April 17, 2014
by Stephanie West

Albany, NY - According to the National AFL-CIO’s 2014 Executive PayWatch website, the average CEO of a company based in New York State made $6,734,750 or 138 times more than the $48,897 earned by the average worker in the state. When compared to the earnings of minimum wage workers who make $8.00 per hour in New York State, the gap between CEO and worker pay jumps up to a 405:1 ratio.  

Close Gender Pay Gap by Insourcing More Jobs

April 16, 2014
By Neal Tepel

Washington, DC -- American Federation of Government Employees National President J. David Cox Sr. has called on President Obama to close the gender pay gap by hiring more federal employees to take on work now performed by contractors. Women in the federal government on average make 11 cents less on the dollar than their male counterparts, compared to nearly 20 cents less in the private sector.

Gender Age Gap Still a Factor

April 9, 2014
By Stephanie West
Special Report

New York, NY – Comptroller Scott M. Stringer has released an analysis of the gender and wage gap in New York City showing despite the positive effects of the Equal Pay Act, the average woman working full-time still earns only 82 percent of the average man. 

Quirky Creates Jobs in Schenectady

April 4, 2014
By Alan Schulkin

New York, Schenectady - Quirky, an invention company headquartered in New York City, will open an office in downtown Schenectady. and plans to create 180 new jobs. “We are continuing to see companies build and expand operations across our state which means more jobs and economic growth in Upstate New York,” Governor Cuomo said.

Local 1407 ‘Brings the Union to the Membership’

April 1, 2014
By Steven Wishnia

“I thought we could do better in the areas where membership feels separated from the union,” says Maf Misbah Uddin, president of the New York City Accountants, Statisticians & Actuaries, Local 1407 of District Council 37. Since he took office in 2000, he’s been working hard to get the rank and file more involved, a philosophy he calls “bringing the union to the membership.”

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