10/17/2021

News

California lawmakers approve bill to require corporate boards to include women

Citing a lack of diversity in corporate boardrooms, state lawmakers on Thursday sent the governor a bill that would require women to be included on the boards of directors of firms headquartered in California. The bill would require that publicly held corporations headquartered in the state include at least one woman on boards of directors […]

Read More

Fewer Californians than residents nationwide favor raising teacher pay

The plight of teachers in the half-dozen states who went out on strike over wages last spring resonated across the nation. A near-majority of people now favor raising teachers’ pay — a significant increase over a year ago — according to a poll by the education journal Education Next. An exception, though, is California — […]

Read More

The Zero-Sum Economy

And yet, despite all this, measured productivity growth across the developed economies has slowed. One possible explanation, recently considered by Andrew Haldane, chief economist of the Bank of England, is that while some companies rapidly grasp the new opportunities, others do so only slowly, producing a wide productivity dispersion even within the same sector. But […]

Read More

Gas tax projects prompt Jerry Brown’s pay raises for California highway engineers

Gov. Jerry Brown’s last contract with the state’s highway engineers includes some sweet perks aimed at retaining the longtime road designers, planners and project managers who’d be charged with executing work funded by the gas tax he backed last year. Brown struck a two-year agreement with Professional Engineers in California Government that includes general wage […]

Slow website
Read More

U.S. Worker Productivity Improves at Best Pace in Three Years

U.S. worker productivity accelerated this spring at the best pace in more than three years, a possible sign stronger business investment is giving workers the tools they need to boost output. The productivity of nonfarm workers, measured as the output of goods and services for each hour on the job, increased at an annualized and […]

Site has paywall
Read More

California unions win another pension lawsuit. Will their streak continue?

The state Supreme Court last Thursday struck down one of the biggest efforts yet to force California public employees into 401(k) plans, giving unions another win in their effort to protect defined benefit retirement plans from elected leaders who want to rein in pension costs. The court sought to write a narrow decision, finding that […]

Slow website
Read More

Rising U.S. Consumer Prices Are Eroding Wage Gains

A humming U.S. economy is pushing inflation up to levels that the central bank considers healthy. But there’s a downside: Americans’ paychecks are barely keeping up. Consumer prices rose 2.9% over the past year, a rate last exceeded in late 2011, the Labor Department said Friday. Core prices—those outside of volatile food and energy-related expenses—climbed […]

Site has paywall
Read More

Jobs Go Unfilled as the Economy Expands

Unfilled jobs are piling up in the transportation, retail and business-services sectors as workers become scarce in the fast-growing economy. The number of available jobs grew by nearly 750,000 this spring, compared with a year earlier, according to Labor Department data released Tuesday. There were 6.7 million job openings on average in the three months […]

Site has paywall
Read More

Sacramento Tax Increase Proposal Represents Statewide Trend

The Sacramento City Council vote to place a tax increase on the November ballot is representative of what we’ll see around the state in many localities: a call for more taxes to maintain basic services when in reality the money is needed to meet pension obligations. In one sense the argument that the money is […]

Read More

The Pension Hole for U.S. Cities and States Is the Size of Japan’s Economy

For the past century, a public pension was an ironclad promise. Whatever else happened, retired policemen and firefighters and teachers would be paid. That is no longer the case. Many cities and states can no longer afford the unsustainable retirement promises made to millions of public workers over many years. By one estimate they are […]

Site has paywall
Read More

U.S. Workers Get Biggest Pay Increase in Nearly a Decade

U.S. workers received their biggest pay increases in nearly a decade over the 12 months through June, a sign the strong labor market is boosting wages as employers compete for scarcer workers. The Labor Department’s employment-cost index rose 2.8% in the year to June compared, the government said Tuesday. Wages and salaries, which account for […]

Site has paywall
Read More

Verdict on Prop 30 Tax Increase, Part 2

In January 2012 California Governor Jerry Brown announced he would ask California voters to approve temporary increases in income and sales taxes. Later that year his proposal was embodied in Proposition 30. Projected by the Legislative Analysts Office to raise $6 billion per year for four years and smaller amounts for three years (ie, $42 […]

Read More

Dan Walters: Pension fund earnings up, but crushing debts remain

Read More

Share of U.S. Employees Offered Health Care Through Work Rises

For the first time in six years, the share of U.S. workers offered health insurance through their employer has risen, a sign a tighter labor market is prompting businesses to offer more generous benefits. In March, 69% of private-sector employees were offered medical benefits from their employer, according to an annual survey the Labor Department […]

Site has paywall
Read More

The Problem With Innovation: The Biggest Companies Are Hogging All the Gains

As far back as the industrial revolution, major innovations have traveled swiftly from company to company and industry to industry, an economy-boosting phenomenon called diffusion. Today, there is mounting evidence this engine of growth seems to be misfiring, a phenomenon some economists say helps explain the slowdown in productivity growth bedeviling developed economies. Productivity, usually […]

Site has paywall
Read More