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Showing posts sorted by date for query recession. Sort by relevance Show all posts
Showing posts sorted by date for query recession. Sort by relevance Show all posts

Sunday, August 31, 2014

California Legislature Passes Bill to Protect Temp Workers

Today's post is shared from http://www.propublica.org/
The bill, inspired in part by a ProPublica investigation, will hold companies accountable for labor abuses by temp agencies and subcontractors they use.The California legislature has passed a bill that would hold companies legally responsible if the temp agencies and subcontractors they hire cheat workers out of their wages or put them in harm's way.
Labor officials across the country have increasingly expressed concern about the rapid growth of the temporary staffing industry since the recession. They have also noted the push by hotels and warehouses to subcontract work that is part of their core business, such as cleaning guest rooms and unloading trucks.
Assembly Bill 1897, passed Thursday night, was inspired in part by a ProPublica investigation last year that found that temp workers were more likely to be injured on the job than regular workers and that some temps for brand-name companies were being charged fees that brought their pay below minimum wage.
"We are one step closer to preventing companies from engaging in a 21st century scam by claiming the men and women who do their work are not really employees, but 'temporary workers' for labor contractors or agencies," Jim Hoffa, president of the Teamsters union, said in a statement after the bill passed the state Senate earlier this week. "This corporate shell game allows corporations to deny responsibility for basic worker rights like pay, benefits, and working conditions."
The Teamsters and the...
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Monday, July 28, 2014

Inequality Is Not Inevitable

Today's post was shared by Steven Greenhouse and comes from opinionator.blogs.nytimes.com
AN insidious trend has developed over this past third of a century. A country that experienced shared growth after World War II began to tear apart, so much so that when the Great Recession hit in late 2007, one could no longer ignore the fissures that had come to define the American economic landscape. How did this “shining city on a hill” become the advanced country with the greatest level of inequality?
One stream of the extraordinary discussion set in motion by Thomas Piketty’s timely, important book, “Capital in the Twenty-First Century,” has settled on the idea that violent extremes of wealth and income are inherent to capitalism. In this scheme, we should view the decades after World War II — a period of rapidly falling inequality — as an aberration.
This is actually a superficial reading of Mr. Piketty’s work, which provides an institutional context for understanding the deepening of inequality over time. Unfortunately, that part of his analysis received somewhat less attention than the more fatalistic-seeming aspects.
Javier JaƩn
Over the past year and a half, The Great Divide, a series in The New York Times for which I have served as moderator, has also presented a wide range of examples that undermine the notion that there are any truly fundamental laws of capitalism. The dynamics of the imperial capitalism of the 19th century needn’t apply in the democracies of the 21st. We don’t need to have this...
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Monday, July 14, 2014

OSHA Chief: Inequality in America Is About Workplace Hazards, Too



Image: Assistant Labor Secretary David Michaels of the Occupational Safety and Health Administration attends a full committee hearing on Capitol Hill on June 23 in Washington, DC.
Image: Assistant Labor Secretary David Michaels of the Occupational Safety and Health Administration attends a full committee hearing on Capitol Hill on June 23 in Washington, DC.

Inequality and poverty have taken center stage in American politics in the years since the recession. Fast food workers have raised the profile of low-wage work, cities and states around the country are raising the minimum wage, and elected officials in both parties have made the struggles of poor Americans core political issues.

But David Michaels, Ph.D., M.P.H., who leads the Occupational Safety and Health Administration under the Obama administration, says that workplace inequality is more than just wages. In an interview, Michaels, who is responsible for enforcing federal laws to project workers from illness and injury, says the regulatory structures he oversees aren’t sufficient to protect vulnerable workers from harm.

NBC: The political conversation about inequality in recent years has focused on wages. You've made the point that when addressing inequality, we should focus more on workplace health and safety issues. Why?

Michaels: Wages are clearly a core component of the discussion of inequality and the ability to get into and stay in middle class. But workplace health and safety issues also have an enormous impact. Workplace injury and illness can push workers out of middle-class jobs and make it hard to enter into the middle class in the first place.
Studies show that workplace injury...
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Thursday, July 10, 2014

Don't Forget Lehman Bros.

Today's post was shared by WorkCompCentral and comes from daviddepaolo.blogspot.coJust as California's State Compensation Insurance Fund was rebounding from the Unicover induced crisis in the workers' compensation market, which forced SCIF to protect more than 50% of the market by year 2000, the monolithic carrier succumbed to enticing bond purchases that was part of the precipitous mortgage backed securities debacle that plunged the country into the worst recession in history by 2008.

Insurance companies routinely invest in bonds because they are relatively safe investments and not generally subject to the vagaries of the market - they are fixed income securities upon which an investor can usually expect the represented return of both interest and the underlying capital.

SCIF alleged in a 2011 federal lawsuit that financial services giant Lehman Brothers misrepresented the risk associated with more than $85 million in investment bonds the Fund purchased between 2004 and 2008.

Those bonds, which were to mature between 2010 and 2014, were allegedly sold in 2009 for $19 million.

The carrier just recently dismissed from that lawsuit three Lehman executives it alleged steered the brokerage into selling these misguided investments all the while misrepresenting to customers, SCIF and others, the true extent of the firm's financial degradation and concealing the worthlessness of the mortgages underlying the purchased bonds.

WorkCompCentral's Mike Whiteley reports this morning that a joint stipulation filed in U.S. District Court for the Southern District of New...

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Related articles

Thursday, July 3, 2014

Average NJ CEO makes 121 times more money than you


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   Jane Elfers, the chief executive officer of The Children’s Place, a retailer based in Secaucus, received a compensation package worth $17.2 million in 2012, according to the AFL-CIO.(Photo: Bloomberg News )

Wage inequality in NJ continues unabated. Todays is shared from app.com
Jane Elfers, the chief executive officer of The Children’s Place, a retailer based in Secaucus, received a compensation package worth $17.2 million in 2012, according to the AFL-CIO.
The average New Jersey worker needs to work 121 years to match the compensation that the average New Jersey CEO makes in one.
That’s according to an AFL-CIO report released Tuesday, showing the Garden State’s top executives make on average $5.7 million. By comparison, the rank and file make on average $46,825.
“What these figures show is a recovery that is only rewarding the very rich at the expense of everyone else,” said Charles Wowkanech, president of the New Jersey State AFL-CIO. “The middle class is disappearing, and it’s because corporate profits are going into the hands of a very limited few.”
The New Jersey statistics were part of the union group’s website, paywatch.org, that is designed to call attention to the growing income disparity between the corner office and the cubicle.
It was released as the economy continues its long, slow recovery from a devastating recession that cost the nation 8 million jobs, including more than 250,000 in New Jersey. What has emerged has been sluggish job growth with little pressure on employers to increase wages for their workers. Meanwhile, top executives are racking up giant paychecks.
Sense of unfairness
The ramifications, one economist said, are stark. The working class has...
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Thursday, May 29, 2014

Median CEO Pay Tops $10 Million For The First Time

Wage inequality impacts workers' compensation. Benefits are calculated upon wages earned at the time of the accident. Many workers hold two jobs and rates are calculated only upon one job. Today's post was shared by Steven Greenhouse and comes from www.npr.org


Leslie Moonves of CBS received $65.6 million in total compensation in 2013, an increase of 9 percent. CBS stock rose nearly 70 percent last year.

Are you getting rich off the rising stock market? America's CEOs are.
Median compensation for the chief executive of a Standard & Poor's 500 company was $10.8 million last year, according to a study by The Associated Press.
That represents an 8.8 percent increase over 2012 and marks the first time that median compensation crossed the eight-figure mark.
Much of the increase was due to performance cash bonuses, stock awards and options. The S&P 500 index rose 30 percent last year, while earnings per share increased by more than 5 percent, lifting CEO compensation, which is generally tied to such indicators.
Bankers got the biggest raises, with total compensation on Wall Street rising 22 percent — matching the 22 percent they'd received a year earlier. Media industry CEOs also did nicely, with the top officials of CBS, Viacom, Walt Disney and Time Warner each pulling in more than $30 million
All told, more than two-thirds of CEOs got a raise, according to the study, which AP and the executive pay research firm Equilar conducted using federal filing statements.
Women CEOs made more than men — $11.7 million, compared to $10.5 million. But that applied only to the dozen women who were included in the sample, compared to 325 male CEOs.
Last year was the fourth in a row in which CEO compensation increased, following a dip with the Great Recession. "The median CEO pay package climbed more than 50 percent over that stretch," according to the AP. "A chief...
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Wednesday, May 28, 2014

The Slow, Quiet Death of Extended Unemployment Benefits

Today's post was shared by Mother Jones and comes from www.motherjones.com




The Senate stumbled on a rare moment of bipartisan accord last month, when six Republicans joined Senate Democrats in passing an extension of unemployment insurance. Extended benefits for the long-term unemployed—measures enacted when the economy cratered at the start of the Great Recession—had expired at the start of the year, reverting back to the standard 26-weeks of assistance in most states. At that time, there were 1.3 million would-be-workers left in the cold. Each week since then, on average, benefits have lapsed for another 70,000 people, ballooning to just shy of three million people whose unemployment insurance has run out.
Under a deal crafted by Sens. Dean Heller (R-Nev.) and Jack Reed (D-R.I.), the Senate's bill offered retroactive payments to that cohort, and extended those benefits through the end of May, with the idea of revisiting the topic for another renewal at that point. It was a rare, triumphant moment for this do-nothing Congress.
And then nothing. Since early April, any effort to help the unemployed has been bottlenecked by House Republicans. House Speaker John Boehner (R-Ohio) immediately put the kibosh on the Heller-Reed plan, rejecting the Senate's bill within days of its passage and calling on the White House to put forth a new separate plan. He demanded that any extension of the insurance program be paired with new job training programs, but he failed to offer ideas of his own, a sign that his stipulations were just a means to...
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Monday, April 7, 2014

Why walk-in health care is a fast-growing profit center for retail chains

Sarah Torresen, 16, left, accompanied by her mother, Dianne, middle, is seen by Katherine Skiff, at the Tenleytown CVS MinuteClinic in Washington. The MinuteClinic is a walk-in medical clinic within CVS pharmacies where customers can see nurse practitioners and physician assistants for minor ailments.

It was a cold Monday in late March, and at 8:30 a.m. 23-year-old Lindsey Menard was second in line to be seen at the MinuteClinic in a CVS Pharmacy in D.C.’s Tenleytown. ¶ “It was the closest place that was open early,” she said. Her doctor’s office was downtown, and traveling downtown “just seemed like too much of a hassle when I’m dying,” said Menard, 23, who lives nearby with her parents and teaches with the Metro D.C. Reading Corps. ¶ CVS is fast expanding its MinuteClinics, exemplifying a trend of retailers opening health-care services to supplement traditional doctors’ offices. CVS, the largest retail clinic operator in the Washington area, has 800 clinics nationwide, and it expects to add 150 more this year and to have 1,500 clinics by 2017, or almost as many as the more than 1,600 retail clinics across the country now, according to the Convenient Care Association. ¶ Retail walk-in clinics are relatively new on the health-care landscape, dating to 2000. After several years of very slow growth coinciding with the recession and its aftermath, they are taking off again. Accenture, a global...

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No Spring Thaw in the Job Market

Today's post was shared by Steven Greenhouse and comes from www.nytimes.com

One of the many good things about the arrival of spring is that politicians, economists and other policy makers can no longer blame the winter weather for the slow economy and the grinding pace of job growth.

The employment report for March, released Friday, indicates that weather did not have as negative an impact in January and February as originally believed; job tallies for those months were revised upward. Accordingly, the springtime bounce in employment was not as great as anticipated. The 192,000 new jobs created in March fell short of the consensus forecast for stronger growth. Monthly job growth averaged 178,000 in the first quarter, compared with the monthly average of 194,000 in all of 2013.

That’s not progress. The sluggish job market is consistent with economic growth forecasts for the first quarter of 2014, which generally top out around 2.5 percent, and broader economic-growth data from the last quarter of 2013, which showed little momentum heading into 2014.

In March, after almost five years of achingly slow recovery, private-sector employment finally surpassed its prerecession peak. But there is more to a healthy job market than replacing private-sector jobs that were lost. A more complete picture must also include the government jobs that have been lost since the recession but never replaced, as well as jobs that were needed to keep up with population growth but never created. All told, the economy is still short a stunning 7.3 million jobs.

It...

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Sunday, April 6, 2014

Obama to Sign Actions Aimed at Boosting Contractor Pay Fairness


President Barack Obama will movethis week to increase the transparency of U.S. federalcontractors pay practices regarding men’s and women’s earnings,according to a White House official.

Taken in coordination with the planned consideration oflegislation in the Democrat-led Senate aimed at eliminating paydisparities between men and women, the two executive actionsmark the latest push by the White House to emphasize “equalpay” proposals.

Obama and his fellow Democrats have seized on equal pay asan issue ahead of November’s state and congressional elections,seeking to give a boost to low-income workers whose pay hasstagnated following the recession. Obama is using executiveorders as legislation in Congress, such as a bill to increasethe federal minimum wage to $10.10 an hour from $7.25, stalls.

Obama will sign an executive order to do away with ‘gagrules’’ that prevent individuals working on contract for thegovernment from discussing pay with one another, according tothe White House official. It would prohibit federal contractorsfrom retaliating against employees who discuss theircompensation.

In a second action, Obama will instruct the LaborDepartment to draft rules requiring contractors to provide paydata by sex and race -- a proposal akin to the Senate measurescheduled for consideration this week.

Obama will use his actions to call on Congress to pass thebill, which is known as the “Paycheck Fairness Act,”...

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Saturday, April 5, 2014

Out of Work, Out of Benefits, and Running Out of Options

Today's post was shared by The New York Times and comes from www.nytimes.com

Abe Gorelick has decades of marketing experience, an extensive contact list, an Ivy League undergraduate degree, a master’s in business from the University of Chicago, ideas about how to reach consumers young and old, experience working with businesses from start-ups to huge financial firms and an upbeat, effervescent way about him. What he does not have — and has not had for the last year — is a full-time job.
Five years since the recession ended, it is a story still shared by millions. Mr. Gorelick, 57, lost his position at a large marketing firm last March. As he searched, taking on freelance and consulting work, his family’s finances slowly frayed. He is now working three jobs, driving a cab and picking up shifts at Lord & Taylor and Whole Foods.
“I’m not in my basement, unshaven, unshowered, drinking a bottle of Scotch a day,” Mr. Gorelick said. “I’m out there working these jobs, meeting people and trying to make something happen. But it is exhausting. It is stressful. It is difficult.”
For people experiencing such long spells without appropriate work, it is a crisis. Often, it is also a conundrum: What should a worker who finds himself out of a job for six months or more do?
“There is this very pressing issue,” said Ofer Sharone, a sociologist at the Massachusetts Institute of Technology, “and there is this great gap in knowledge about what to do about it, both for policy...
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….
Jon L. Gelman of Wayne NJ is the author NJ Workers’ Compensation Law (West-Thompson) and co-author of the national treatise, Modern Workers’ Compensation Law (West-Thompson). For over 4 decades the Law Offices of Jon L Gelman  1.973.696.7900  jon@gelmans.com  have been representing injured workers and their families who have suffered occupational accidents and illnesses.

Related:
Charts: The Worst Long-Term Unemployment Crisis Since the ...
Dec 27, 2013
In less than a week, emergency federal unemployment benefits for 1.3 million of these jobless Americans are set to run out. Proponents of ending the benefits argue that the economy is expanding and that the benefits prevent ...
http://workers-compensation.blogspot.com/
Workers' Compensation: Why Injured Workers (and their lawyers ...
Jan 13, 2014
A new basis for disqualifying workers from receiving Unemployment Compensation benefits will be called “Substantial Fault” which may include a series of inadvertent errors made by the employee and violations of work ...
http://workers-compensation.blogspot.com/
Workers' Compensation: Unemployment benefits, the cruelest cut of all
Jan 03, 2014
It would be one thing if there were a logical reason to cut off unemployment benefits for those who have been out of work the longest. But no such rationale exists. On both economic and moral grounds, extending benefits for ...
http://workers-compensation.blogspot.com/
10 Reasons That Long-Term Unemployment Is a National Catastrophe
Dec 27, 2013
Unemployment is bad. Obviously long-term unemployment is worse. But it's not just a little worse, it's horrifically worse. As a companion to our eight charts that describe the problem, here are the top ten reasons why long-term ...
http://workers-compensation.blogspot.com/

Tuesday, March 4, 2014

Where Have All the Raises Gone?

Today's post was shared by Steven Greenhouse and comes from www.nytimes.com


Most people who work for a living know that for a long time now, raises have been few and far between. Wages typically fall or stagnate in recessions, and the Great Recession was particularly severe, exerting a drag on pay that persists to this day.

But that is only a partial explanation, because declining and stagnant wages predate the latest downturn. Understanding the causes is essential for determining the policies needed to create good jobs. Research by three economists — Paul Beaudry, David Green and Benjamin Sand — goes beyond familiar explanations for wage stagnation like global competition and labor-saving technology. Examining the demand for college-educated workers, they found that businesses increased hiring of college graduates in the 1980s and 1990s in adapting to technological changes. But as the information technology revolution matured, employer demand waned for the “cognitive skills” associated with a college education.

As a result, since 2000, many college graduates have taken jobs that do not require college degrees and, in the process, have displaced less-educated lower-skilled workers. “In this maturity stage,” the report says, “having a B.A. is less about obtaining access to high paying managerial and technology jobs and more about beating out less-educated workers for the barista or clerical job.”
The findings help to explain the trajectory in wages for workers with...
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Tuesday, February 11, 2014

Payroll Data Shows a Lag in Wages, Not Just Hiring

Today's post was shared by Steven Greenhouse and comes from www.nytimes.com



For the more than 10 million Americans who are out of work, finding a job is hard. For the 145 million or so who are employed, getting a raise is even harder.
The government said on Friday that employers added 113,000 jobs in January, the second straight month of anemic growth, despite some signs of strength in the broader economy. The unemployment rate inched down in January to 6.6 percent, the lowest level since October 2008, from 6.7 percent in December.
But the report also made plain what many Americans feel in their bones: Wages are stuck, and barely rose at all in 2013. They were up 1.9 percent last year, or a mere 0.4 percent after accounting for inflation. Not only was that increase even smaller than the one recorded in 2012, it was half the normal rate of wage gains in the two decades before the last recession.



The stagnation helps explain why many people feel apprehensive even though the economy grew at a robust pace in the second half of 2013, corporate profits rose, the stock market boomed and the housing market continued to gain ground. The issue cuts across the American work force. In fact, white-collar workers did a bit worse than blue-collar workers last year in terms of wage growth.


Austin Moore, 18, pictured at a career fair in Dallas, is one of many young job seekers. LM Otero/Associated Press

“People are running in place in terms of their living standards,” said Ethan Harris, co-head of global economics at Bank of America Merrill...
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Sunday, January 12, 2014

No Jobs, No Benefits, and Lousy Pay

Today's post was shared by Steven Greenhouse and comes from www.nytimes.com

There is nothing good to say about the December employment report, which showed that only 74,000 jobs were added last month. But dismal as it was, the report came at an opportune political moment. The new numbers rebut the Republican arguments that jobless benefits need not be renewed, and that the current minimum wage is adequate. At the same time, they underscore the need, only recently raised to the top of the political agenda, to combat poverty and inequality.
The report showed that average monthly job growth in 2013 was 182,000, basically unchanged from 2012. Even the decline in the jobless rate last month, from 7 percent in November to 6.7 percent, was a sign of weakness: It mainly reflects a shrinking labor force — not new hiring — as the share of workers employed or looking for work fell to the lowest level since 1978. That’s a tragic waste of human capital. It would be comforting to ascribe the dwindling labor force mainly to retirements or other long-term changes, but most of the decline is due to weak job opportunities and weak labor demand since the Great Recession.
One result is that the share of jobless workers who have been unemployed for six months or longer has remained stubbornly high. In December, it was nearly 38 percent, still higher by far than at any time before the Great Recession, in records going back to 1948.
And yet, nearly 1.3 million of those long-term unemployed had their federal jobless benefits abruptly cut off at the end...
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