The Many Factors Behind 2008's Bigger Raise for Federal Workers
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What a difference a year makes. At the start of 2007, federal employees received an average raise of 2.2 percent, with about half receiving a 1.8 percent raise. This year, federal employees will see their pay rise by an average of 3.5 percent. About half will get a 2.99 percent raise. The differe...
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Working capital improvements pave the way for higher cash returns.
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President Bush today signed an executive order that provides nearly 1.8 million federal employees with an average 3.5 percent pay raise and also increases salaries by smaller percentages for the armed forces, members of Congress, federal judges, diplomats and others.
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ThyssenKrupp and Salzgitter, the largest steel makers in Germany, agreed to the highest wage increases for their workers in more than 10 years. Salaries for 85,000 workers at steel makers will increase 3.8 percent from the beginning of 2007, IG Metall, the steel workersÂ union, said. Wages last rose that much in 1995, when they increased 4 percent. IG Metall had been seeking a 7 percent wage increase for 12 months, while employers had offered 3 percent.
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About 1.8 million federal employees would receive a 1.7 percent increase in their basic pay and a 0.5 percent average increase in their locality pay next year under a plan that President Bush sent to Congress yesterday, administration officials said.
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President Bush spelled out in greater detail Thursday the pay raise that takes effect Jan. 1 for federal workers, members of Congress, judges &#151; even Vice President Dick Cheney.
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The Federal Reserve has hiked benchmark interest rates by one-quarter of one percent for the fifth time this year. At the final scheduled meeting of the year the Federal Open Market Committee boosted the federal funds rate to 2.25 percent.
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Their compensation has outpaced inflation for five years, prompting demands for oversight, disclosure.
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The number of Americans filing new claims for jobless benefits rose 25,000 last week to 349,000, a government report showed on Thursday, with some analysts citing the U.S. Thanksgiving holiday as distorting the data.
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Business & money: Â· Rise in unemployment forecast for 2008Â· TUC calls for easing  of monetary policy
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Shift in the U.S. workforce is no longer just about factory workers.  All kinds of jobs that pay middle range -- $17 an hour, or about $35,000 a year -- are vanishing.
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The productivity of American workers, the critical component for rising living standards, increased by 4.1 percent in 2004, capping a remarkable three-year period in which worker efficiency climbed at the fastest pace in a half century.
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The budget that President Bush sent to the Congress yesterday contains nuggets of good news for federal employees: Their numbers would grow, as would their salaries.
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A few little changes in behavior can reap big savings.
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Health insurance premiums for federal employees and retirees will increase by an average of 2.1 percent next year, the Office of Personnel Management announced this afternoon.
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U.S. labor costs have risen more   robustly this year than first thought, a government report   showed on Wednesday, increasing concerns the Federal Reserve   may start raising interest rates again to contain inflation.
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The Food and Drug Administration is giving workers more than $8 million in bonuses to keep them from defecting to pharmaceutical and other regulated industries, at the same time the agency is being pressed to spend more on food and drug safety.