Posts by natalie sabadish

Robust Pennsylvania Job Growth in May But Long-Term Picture Little Changed

The Pennsylvania employment situation report, released today by the Bureau of Labor Statistics, showed that the number of “jobs” in Pennsylvania – nonfarm payroll employment as measured by a survey of employers – grew by a robust 24,700 in May, and the state unemployment rate fell by one-tenth of a percentage point to 5.6 percent. The job jump in May was enough to improve PA’s long-term job-growth ranking – but only by one place, to 48th out of the 50 states going back to January 2011.

CEO Pay in America: Up Up And Away!

According to recently-released data, CEOs and executives in the United States have been recovering well since the end of the recession, while most workers are being left even further behind. The Economic Policy Institute released a study today documenting compensation in 2013 for CEOs at the top 350 firms in the United States. Their data is especially valuable because it provides a consistent historical series of CEO pay trends back to 1965.

In 2013, compensation for the average CEO (using a measure that includes the value of stock options that were realized during the year) was $15.2 million, an increase of 2.8 percent over the year and more than 20 percent since 2010[1].

Minimum wage increases didn’t hurt job growth in other states; it’s time for PA to join the club

Last week, Michigan passed a bill to increase its minimum wage from $7.40 an hour to $9.25 an hour over the next four years. Michigan is the seventh state, in addition to D.C., to legislate a minimum wage increase thus far in 2014. Additionally, as of yesterday, 22 states across the country, including all six of Pennsylvania’s neighboring states, have a wage floor higher than the national level of $7.25 per hour. Support for raising the minimum wage is building among Pennsylvanias so that our workers are not left even further behind.