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.
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…
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.
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…
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.
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.
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.
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.
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….
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…