An initiative to raise California’s minimum wage to $15 an hour by 2021 has enough signatures to qualify for the November 2016 ballot, according to a press release from SEIU-United Healthcare Workers West, which is sponsoring the measure.
The cost of that wage increase has been estimated at more than $1 billion, and it seems as though the retailer is offsetting that cost with cuts to employee hours. The reductions began weeks ago, during the busy back-to-school shopping period.
Gov. Jerry Brown approved legislation on Tuesday that expands the definition of “Made in U.S.A” to more closely resemble a federal standard for domestically-produced goods in 49 other states.
An Oakland lawyer who just won a $36 million settlement from Bank of America for failing to pay overtime to 365 employees said he expects to see an uptick in overtime-related lawsuits in the Bay Area — particularly for companies in the sharing economy, such as Uber or Lyft.
A secretive electric car developer recently announced that it’s scouting several locations for a new factory, fueling speculation about a state tax-credit race similar to last year’s push for Tesla’s gigafactory.
The finance department opposes this year’s minimum wage bill because it would boost the state payroll by an estimated $1.2 billion once the wage reaches $13 in 2017. Finance officials also think the economic impact of a $13 minimum wage likely would be negative because it would slow the growth of employment.
The Fed’s finding: “Currently, a little over a million workers are paid the federal minimum wage, and most of them are not employed full-time.” In addition, “A little less than a million workers are paid less than the federal minimum wage, a large majority of whom are employed full-time.”
The $15 million state tax credit would be in return for Tesla (NASDAQ: TSLA) creating about 4,500 jobs across its facilities in Fremont, Hawthorne, Lathrop and Newark, said Brook Taylor, a deputy director of the Governor’s Office of Business and Economic Development. The agency administers the California Competes program.
The cost of housing — and concerns about commutes — are causing anxiety among Jindal’s clients. He recently had to revise a deal that involved recruiting a crack team of hackers for projects in Silicon Valley. Instead, partially based on the projected cost to lure them, he was forced to export the projects — and the cash infusion it would have meant locally — to a coding team in Dallas and Charlotte. . . “It’s very difficult. I just lost three servers to Texas, and one cook and a busboy to Oregon,” Rocca said. “They can’t make enough money to get ahead, so they spend every dime they make. So they left. They just didn’t like that.”
The Port of Oakland shut down operations Thursday as longshore workers attended a union meeting instead of showing up to work amid a protracted labor dispute with shippers.
In 2014, the average software engineer at a Series B funded company made $142,000, up from $130,000 in 2013. Series C funded companies paid programmers $137,000 salaries on average, up from $128,000 the previous year.
San Jose’s metro area leads the U.S. as an advanced-industries hub, but the crucial expansion and improved competitiveness of this high-tech workforce could be challenging, the Brookings Institution says in a new report.
Following voter approval of a state rainy day fund, Standard and Poor’s raised California’s credit to an A+ stable rating on Wednesday, the state’s fourth upgrade by a credit ratings agency in the past two years. The rating was raised from A.
If the dollars flow in the intended areas, the newly approved water bond and rainy-day fund both have the power to improve California’s economy, local business leaders said Wednesday.
Google Inc. has cemented a pair of massive real estate deals in Sunnyvale and Redwood City that boost the company’s Silicon Valley footprint by 2.8 million square feet – about the size of the Empire State Building and enough room for more than 10,000 workers.