Los Angeles Mayor Eric Garcetti, who campaigned four years ago as someone who would stand up for Department of Water and Power ratepayers, is pushing a proposal to give six raises within five years to more than 9,000 workers at the utility.
The salary agreement, backed Tuesday by Garcetti’s appointees on the DWP board, would provide raises of least 13.2% and as much as 22.3% by October 2021, depending on inflation. Beyond that, the pact would deliver a 4% boost over two years to the base pay of hundreds of DWP electrical distribution mechanics, also known as linemen.
Should taxpayers underwrite special benefits to attract new teachers, such as affordable housing, expanded maternity leave and tax breaks? California lawmakers have put forward a raft of proposals offering extra perks for teachers this session, prompted by what supporters say is an urgent need to do more to encourage people to get into the profession or stay there. “Due to the extreme shortage of teachers in the state, many school districts must seek opportunities to attract qualified teachers,” Assemblyman Kevin Mullin, D-South San Francisco, said of his bill meant to increase the supply of affordable housing for teachers. Available data, though, doesn’t back up such dire assessments of the state’s overall teacher supply. Data shows that, as state finances have improved, so have the number of teachers in public schools.
San Diegans voted five years ago this month to switch all new city hires, except police, from pensions to 401(k)-style individual investment plans, becoming one of the first big cities to take the plunge.
LAEDC’s Institute for Applied Economics has released the report, Goods on the Move: Trade and Logistics in Southern California. The report looks at jobs, wages, economic impact, trends, and factors affecting the future of this major regional industry cluster, which directly employs over half a million people in Southern California. The industry continues to grow, with more jobs being added. While average wages for the industry as a whole are above the LA County average, the individual occupations span a wide range of salaries. Warehousing experienced a 55% increase in employment during the past ten years, but salaries in that sector have been trending down, and increasing automation is a factor to watch.
Apart from being impractical, since four of our nation’s Fortune 500 companies are in the energy industry, divesting from fossil fuels would be a stunningly poor investment strategy, according to a new report conducted by Professor Daniel Fischel of the University of Chicago Law School and economists Christopher Fiore and Todd Kendall. The report found that for eleven of the country’s largest public pension funds, combined losses would be in the trillions of dollars.