Federal employees under the General Schedule (GS) get an annual pay raise most years. Articles in this section are an important resource for federal employees to stay informed about their pay and any potential changes that may affect their salaries. Thes
workers during the first quarter of 2024. Photo by Nam Y. Huh /THE ASSOCIATED PRESS Article content WASHINGTON (AP) — Pay and benefits for America’s workers grew more quickly in the first three months of this year, a trend that could contribute to higher inflation and rai...
The number of federal workers earning $150,000 is ten times what it was five years ago—and has doubled during the Obama administration alone, USA Today reports. The group now makes up 3.9 percent of the workforce, up from 0.4 percent in 2005. Republicans in the House are now trying to...
Pay and benefits for America’s workers grew more quickly in the first three months of this year, a trend that could contribute to higher inflation and raise concerns about the future path of price increases at the Federal Reserve.
With the number of unemployed dwindling, businesses have been forced to raise hourly pay to keep and attract workers. In the final three months of 2021, wages jumped at a 6.2% annual rate. And for workers in restaurants, hotels and casinos, pay soared 14.1% in December com...
How does a Fed rate pause affect mortgages? The U.S. Federal Reserve sets borrowing costs for shorter-term loans by changing itsfederal funds rate. This rate dictates how much banks pay each other in interest to borrow funds from their reserves, kept at the Fed on an overnight basis. Whi...
Here's what seems to work in Miami to keep deaths down as temperatures soar Despite a record 46-day streak of triple digit feels-like temperatures, Miami’s unprecedented brutal summer last year wasn’t that deadly, contrasting with the rest of the nation where federal records show heat fatal...
Some economists warn that some of the factors fueling inflation — notably, shortages of supplies and workers — are outside the Fed's ability to solve. "The Fed can’t fix supply-side challenges with higher interest rates,’’ said Jim Baird, chief investment officer at Plante Moran Financia...
“In other words, the break-even rate: As population rate growth slows, the need to make jobs for workers declines as well,” he added. Economists have noted that the recent years’ surge in immigration has helped to fill worker shortages –industries such as leisure and hospitality, constr...
Reading from his prepared remarks, Powell rattled off a series of employment data: payroll gains averaging 218,000 per month in April and May; unemployment having crept up but remaining low at 4%; job creation driven by increases in participation among prime-aged workers and immigrants; slower ...