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Three studies of L.A. minimum wage boosts reach different conclusions

Labor and Economic News - 5 hours 49 min ago


Three studies of L.A. minimum wage boosts reach different conclusions

Would boosting L.A.'s minimum wage to $13.25 or $15.25 an hour pump up the city's economy — or deflate it?
Economists hired by business and labor groups and the city released competing studies Thursday on what would happen if Los Angeles boosted pay for hundreds of thousands of workers. The new analyses mark the latest step in a pitched debate over how or whether the city should increase the minimum wage as part of a national push to reduce poverty and economic inequality.
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L.A. County supervisors vote 5-0 to study raising the minimum wage

Labor and Economic News - 5 hours 51 min ago
L.A. County supervisors vote 5-0 to study raising the minimum wage

The supervisors agreed to weigh the impact of not only requiring a higher baseline pay for their roughly 100,000 employees — the largest local government workforce in the United States — but also for county contractors and businesses in those unincorporated areas.



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McDonald's is giving 90,000 workers raises and vacation time

Labor and Economic News - 5 hours 58 min ago
McDonald's is giving 90,000 workers raises and vacation time

Fast-food giant McDonald’s Corp. will raise wages for its workers and plans to provide paid vacation and other benefits for employees at its U.S. restaurants, the company announced Wednesday. The raise, which goes into effect July 1, applies to part-time and full-time employees who work at McDonald’s restaurants owned by the company but not its franchises, which make up nearly 90% of its U.S. stores. The change will affect about 90,000 of the restaurant’s estimated 750,000-person workforce.
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As Job Rate Rises, Older Workers Are Often Left Behind

Labor and Economic News - Tue, 03/31/2015 - 08:55
As Job Rate Rises, Older Workers Are Often Left BehindAn AARP group surveyed 2,492 people ages 45 to 70 who had been unemployed and found about half had managed to find work.
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The Health Care Wager

Labor and Economic News - Tue, 03/31/2015 - 08:52
The Health Care WagerA surge in spending on health care is translating into well-paying jobs, but opportunities are only available to those willing to put in the time and money to retrain.
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Raise the minimum wage, but don't forget about the cost of housing

Labor and Economic News - Tue, 03/31/2015 - 08:47
Raise the minimum wage, but don't forget about the cost of housing

A worker would have to earn $33 an hour to afford the average apartment, KPCC reported this year. The state minimum wage of $9 an hour doesn’t have the same buying power in Los Angeles that it does in Bakersfield or Humboldt. So it makes sense to set a higher minimum wage in a pricey urban area.
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Economic Inequality: It’s Far Worse Than You Think

Labor and Economic News - Tue, 03/31/2015 - 08:44
Economic Inequality: It’s Far Worse Than You Think   In a candid conversation with Frank Rich last fall, Chris Rock said, "Oh, people don’t even know. If poor people knew how rich rich people are, there would be riots in the streets." The findings of three studies, published over the last several years in Perspectives on Psychological Science, suggest that Rock is right. We have no idea how unequal our society has become
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Major Economic Indicators Latest Numbers

Money Headlines - Fri, 03/27/2015 - 06:32

Consumer Price Index (CPI):
+0.2% in Feb 2015
News Release
Historical Data

Unemployment Rate:
5.5% in Feb 2015
News Release
Historical Data

Payroll Employment:
+295,000(p) in Feb 2015
News Release
Historical Data

Average Hourly Earnings:
+$0.03(p) in Feb 2015
News Release
Historical Data

Producer Price Index - Final Demand:
-0.5%(p) in Feb 2015
News Release
Historical Data

Employment Cost Index (ECI):
+0.6% in 4th Qtr of 2014
News Release
Historical Data

Productivity:
-2.2%(r) in 4th Qtr of 2014
News Release
Historical Data

U.S. Import Price Index:
+0.4% in Feb 2015
News Release
Historical Data

U.S. Export Price Index:
-0.1% in Feb 2015
News Release
Historical Data

p- preliminary

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