The acceleration in wages on a monthly basis may show that managers are finally starting to boost pay some more in a bid to keep or attract workers. Even so, the 2.5 percent pace of annual wage growth is little changed over the past two years, owing to factors including weak productivity, as well as people returning to the labor force and accepting lower-skilled work.
The L.A. metro area’s median base pay grew 0.5 percent in a one-year period through July 17 to $59,064, below the national average of 1.2 percent, according to a report from jobs website Glassdoor released Tuesday. The figures mark the slowest pace of wage growth in three years, indicating a continued slowdown in pay increases nationally, despite low unemployment and healthy jobs numbers, according to the report that is based on millions of anonymous salary reports shared on Glassdoor.
You probably haven’t heard much about the looming pension crisis because elected officials don’t like talking about it and it’s easy for them to kick the can down the road: they can make promises to public employees now that won’t come due until they’re out of office.
But the slow creep of pension costs is crowding out investments in other areas, including education, environmental stewardship, social services, and public transportation. In essence, the state is being forced to default on its social obligations to pay for its pension obligations. If you’re a progressive, fixing this problem may be the most important issue facing the state.
In theory, the high-wage jobs of the technology industry could be filled by people working anywhere. But in practice, the best tech jobs in the U.S., offering salaries in excess of $100,000 a year, are becoming increasingly concentrated in the metropolitan areas of just eight cities, according to new research. The eight leading U.S. tech hubs account for slightly less than 10% of U.S. jobs and about 13% of overall job postings. But the cities — Seattle, San Francisco, San Jose, Austin, Raleigh, Washington, Baltimore and Boston — account for more than 27% of the listings for U.S. tech jobs, research from Jed Kolko, the chief economist of the job-search website Indeed, shows.
The state Supreme Court will review San Diego’s five-year-old pension cutbacks that, if overturned, would require the city to spend millions creating retroactive pensions for more than 3,000 workers hired since 2012. The court voted unanimously on Wednesday to review an April ruling by the Fourth District Court of Appeal that had vindicated the city and its pension cuts.