From NPR: “The average leisure and hospitality employee stays at one job for only 2.2 years. With hazardous working conditions and low rates of health benefits, high levels of attrition are hardly surprising. With a chef shortage, attrition is costly and retention is vital for the restaurant industry. Chefs may love cooking, servers may have a passion for hospitality, and bartenders may excel at making drinks, but a harsh working environment may knock some would-be long-termers out of the game early.”
– The Wall Street Journal
If the president’s agenda were enacted, forecasters on average think long-run gross domestic product growth could rise to 2.3%, an 0.3 percentage point increase from their 2% baseline. Unemployment would average 4.4% under this scenario, instead of 4.5%. Interest rates set by the Federal Reserve would be about a quarter-point higher. Short-term rates would be about 3.1%.
While Congress decides what to do with the Affordable Care Act, state officials are left to grapple with policies that are in their control. In Pennsylvania Gov. Tom Wolf’s case, that means focusing on reducing Medicaid spending. The way he’s proposed to cut those costs is unconventional and unproven: He wants to raise the state’s minimum wage to $12 an hour. Doing so, his administration claims, would lift 100,000 people out of Medicaid and save the state an estimated $50 million a year.
– O.C. Register
The startling cost-of-living gaps between different metro areas across the U.S. have huge implications related to labor policy. Record-high rents and home prices are driving up Southern California income limits. Orange County apartment rents, for example, increased 20 percent over the past seven years, while the median sale price of an Orange County house has jumped 40 percent.