Citibank Eliminates Barriers to Low-Income Americans

February 4, 2015
By Neal Tepel

New York, NY – Citibank has agreed to adopt new policies governing its screening of lower-income customers seeking to open checking or savings accounts. Citibank’s will now allow thousands of additional New Yorkers and consumers nationwide to open bank accounts.

City’s Tourism Generated Record $61.3 Billion

February 3, 2015
By Stephanie West

New York, NY — New York City reached an all-time record of 56.4 million visitors in 2014. Tourism generated a record $61.3 billion in overall economic impact, supporting 359,000 related jobs and $21 billion in wages.

A Wage Floor Forces Employers To Pay Better

January 22, 2015
By Oren M. Levin-Waldman, Ph.D.

It has become a staple of the neoclassical economics model that when productivity increases, then so too will wages. Why is this? Because in a competitive market each worker receives the value of his or her marginal product, which is the amount of an increase in say a unit of labor.

Jobs Increase But Wages Stagnate

January 12, 2015
By Neal Tepel

Washington, DC - The Labor Department has reported that the U.S. created more jobs in 2014 than any year since 1999, but paychecks continue to decline. With jobs increasing across the U.S., wages are now the nation’s chief economic concern.

AFL-CIO Equity Index Fund Grows to $6 Billion!

December 30, 2014
By Mike Stotz, AFL-CIO Investment Trust Corporation President

Washington, DC - In just two months the AFL-CIO Equity Index Fund—already the fastest growing investment program in AFL-CIO history—raised an additional one billion dollars in new investments from more than a dozen pension plans. That means that we now have more than six billion dollars in committed funds!

New York Funds Affordable Housing Projects

December 30, 2014
By Neal Tepel

More than $16.5 million has been awarded for the construction of 240 new units of affordable housing across the State. “All New Yorkers should have a safe and decent place to call home, and today we’re taking another step toward making that goal a reality,” Governor Cuomo said.

Former Labor Leader Calls Budget Compromise a Debacle

Bruce Raynor criticized the budget compromise that favors the wealthy.

December 25, 2014
By Marc Bussanich

Happy Holidays Working Folk!!

New York, NY—The former president of Workers United and UNITE HERE! called the recent $1.1 trillion budget compromise a “debacle” because the new spending bill now allows very wealthy people to spend even more cash to influence politics in Washington, D.C than before.

Amalgamated Bank Hires Former White House Aide

December 25, 2014
By Stephanie West

New York, N.Y – Amalgamated Bank announced that Sam Brown, a former aide in the Obama administration, has been selected to lead the bank’s business development team to customize banking services for unions.

Whether You Love ‘em or Hate ‘em, Wall Street is Key to New York’s Economy

December 24, 2014
By Marc Bussanich

New York, NY—That was the message Comptroller Thomas DiNapoli gave when he spoke before business and labor leaders on December 12 about how the securities industry is a major tax revenue source for both New York City and State.

Republican Strategy: Eliminate Unions and Reduce Worker Protections

December 23, 2014
By Neal Tepel, LaborPress Editorial

Washington, DC - Several Kentucky counties are moving forward passing local 'Right to Work' legislation. Republicans in Kentucky are engaging in a tactic that could spread across the country and labor leaders are paying very close attention.

Retirement Security Increasingly Insecure

December 19, 2014
By Kenneth Quinnell RePrinted from:

Washington, DC - Every three years, the Center for Retirement Research at Boston College issues the National Retirement Risk Index (NRRI), taking a look at the percentage of America's households that are at risk of seeing a decline in quality of life after retirement. In the recently released report for 2013, 52% of households were at risk, a marginal improvement from the 2010 rate of 53%.

NYCHA Squandered Opportunities to Raise Millions

December 18, 2014
By Neal Tepel

New York, NY – The New York City Housing Authority (NYCHA) missed out on at least $692 million in revenue and cost savings opportunities and repeatedly failed to meet revenue and savings projections, according to an audit of NYCHA's finances and financial practices released by New York City Comptroller Scott M. Stringer.                      

Tax Breaks Contribute To Inequality

December 17, 2014
By Neal Tepel

Washington, DC - Taxpayer subsidies awarded to corporations by feederal, state and local governments, are fueling economic inequality. Giant companies owned by billionaires are receiving millions from our government while taking advantage of employees. These low-wage companies receiving high taxpayer subsidies should be encouraged to pay workers a living wage.

Insurance Premium Increase Threatens Union Pensions

December 10, 2014
By Neal Tepel

Washington, D.C. – LIUNA – the Laborers’ International Union of North America – is urging Congress to reject a proposal which would dramatically increase insurance premiums for multiemployer pension plans, devastating millions of current and future retirees. 

Progressives and the Minimum Wage: A Missed Opportunity

December 4, 2014
By Oren M. Levin-Waldman, Ph.D.

It is commonplace to think of progressive policy as that which assists the poor and the downtrodden. Progressive politicians have historically been in the forefront of labor legislation favoring worker rights, minimum wage laws, anti-poverty programs, civil rights, women’s rights, and more recently environmental protection.

Fire Department Treasurer Stole $82,000

November 19, 2014
By Stephanie West

A Crystal Beach Volunteer Fire Department treasurer stole more than $82,000 from the department for personal expenses and shopping sprees, according to an audit by State Comptroller Thomas P. DiNapoli.

Additional information