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BUSINESS
By BLOOMBERG NEWS | July 29, 2006
WASHINGTON -- U.S. labor costs rose more than expected in the second quarter, led by the biggest increase in wages in three years, the Labor Department reported yesterday. The 0.9 percent rise in the employment cost index, the biggest since the first quarter 2005, followed a 0.6 percent gain the previous three months, the department said. Over the past year, labor costs were up 3 percent. Rising labor costs are another potential source of inflation as companies, already paying more for fuel, try to raise prices.
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NEWS
Susan Reimer | October 2, 2013
Today we revisit one of my favorite topics. Tomatoes. I bet you thought I was going to write about the government shutdown, but giving Congress ink is like giving a fool a microphone. So let's talk about tomatoes. I went to my favorite farmers' market in Annapolis this weekend and greedily filled my basket. I am hoarding against the possibility that a sudden storm will arrive and, although we need the rain, cause the last tomatoes in the field to swell and split and rot. The drought actually has been a boon to us tomato lovers.
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BUSINESS
By BLOOMBERG NEWS | March 8, 2000
WASHINGTON -- U.S. worker productivity in the fourth quarter of 1999 grew at the fastest pace in seven years and labor costs fell for the second straight quarter, the Labor Department said yesterday. Productivity, a gauge of output per hour worked, rose at a 6.4 percent annual rate in the final three months of the year. That's up from the third quarter's 5 percent pace and reflected the fastest rate of economic growth in 3 1/2 years. While that's good news for the economy because it suggests businesses are finding new ways to absorb increases in labor costs and avoid raising prices, it's unlikely to stop Federal Reserve policy-makers from pushing interest rates higher in the coming months to keep the economy from overheating.
NEWS
September 15, 2013
I applaud The Sun's editorial board for recognizing (at least by implication) that raising the minimum wage is an election year gimmick (" Raise wages - no strings attached Sept. 9). What concerns me is that you find it "hard to discern" what decreasing the corporate tax rate has to do with raising the minimum wage. I can only guess that you have never had to make a payroll that has a significant number of low-skilled workers. Quite simply, raising the minimum wage raises labor costs to businesses.
BUSINESS
By BLOOMBERG NEWS | June 5, 2001
SINGAPORE - Inflation is not a threat to the U.S. economy because businesses are absorbing higher labor costs and energy prices, U.S. Federal Reserve Chairman Alan Greenspan said yesterday. While that has hurt profit margins, cost pressures should ease as energy prices fall over the coming months, he said. With inflation contained, the Fed has latitude to lower interest rates further to boost growth if necessary. The U.S. economy expanded at just a 1.3 percent annual pace in the first quarter after growing 5 percent in 2000.
HEALTH
By Andrea K. Walker, The Baltimore Sun | June 20, 2013
University of Maryland Medical Center said Thursday it will reduce labor expenses by 3 percent, including the elimination of 65 jobs next week. The Baltimore hospital will lay off additional employees during a second round of job cuts in August. It has not yet been decided how many additional employees will lose their jobs in the second phase. The hospital will also reduce labor expenses by eliminating vacant positions and cutting back on contract labor and overtime. Hospitals throughout Maryland are looking to cut costs in the wake of federal budget cuts and what the medical institutions have called inadequate rate increases.
BUSINESS
By AGENCE FRANCE-PRESSE | May 7, 2004
WASHINGTON - Fresh signs of a bustling U.S. economy emerged yesterday, spurring expectations of a rise in interest rates, with productivity up solidly and new unemployment-benefit claimants at a 3 1/2 -year low. In the first quarter of this year, businesses boosted productivity at a solid, seasonally adjusted annual pace of 3.5 percent, the Labor Department said. Output rose at an annual rate of 4.9 percent, while the number of hours worked climbed 1.3 percent. The resulting productivity gain was in line with private economists' expectations, and it was up from a gain of 2.5 percent in the last quarter of 2003.
BUSINESS
By BLOOMBERG NEWS | September 10, 1997
WASHINGTON -- U.S. worker productivity grew four times faster than first estimated in the second quarter, leading to the smallest gain in labor costs in three years and keeping the economy on its low-inflation track, government figures yesterday showed.Productivity, a measure of the time and effort needed to produce goods and services, rose at a 2.7 percent annual rate in the second quarter, according to the Labor Department. The agency initially estimated a month ago that productivity rose 0.6 percent in the quarter.
BUSINESS
By Suzanne Wooton and Suzanne Wooton,SUN STAFF | January 23, 1996
USAir Group Inc. yesterday reported its first profitable year since 1988, with a $119.3 million profit in 1995, compared to a loss of $684.9 million in 1994. But, despite its vastly improved financial picture, the carrier sent labor yet another warning that it might not even stay in business unless it cuts costs further."Last year was a good one for the airline industry as a whole," said John Harper, USAir's chief financial officer. "Our full potential, however, cannot be realized, nor our existence assured, if we do not achieve a competitive cost structure."
BUSINESS
By BLOOMBERG NEWS | June 4, 2004
WASHINGTON - U.S. worker productivity grew at a 3.8 percent annual rate from January through March, faster than the final quarter of 2003, as investment in equipment helped employers become more efficient. Labor costs rose. The government's measure of the work done by one employee in an hour showed a 2.5 percent annual rate of increase in October-December, the Labor Department said. The first-quarter rate also was higher than the 3.5 percent initially reported in May. Gains in productivity, aided by higher spending on equipment and software, may help companies hold down costs and safeguard profits, economists said.
HEALTH
By Andrea K. Walker, The Baltimore Sun | June 20, 2013
University of Maryland Medical Center said Thursday it will reduce labor expenses by 3 percent, including the elimination of 65 jobs next week. The Baltimore hospital will lay off additional employees during a second round of job cuts in August. It has not yet been decided how many additional employees will lose their jobs in the second phase. The hospital will also reduce labor expenses by eliminating vacant positions and cutting back on contract labor and overtime. Hospitals throughout Maryland are looking to cut costs in the wake of federal budget cuts and what the medical institutions have called inadequate rate increases.
NEWS
February 11, 2013
Kudos to Bill Barry for his comprehensive explanation of why jobs lost during the Great Recession are not coming back ("A farewell to jobs?" Feb. 8). The list of reasons is extensive: new technologies that obviate the need to rehire workers, corporate mergers, government cutbacks, increased productivity, and off-shoring of jobs, just to mention a few. (Not mentioned is our ever-increasing population, which only makes the problem that much worse). Mr. Barry's article gives the lie to the so-called "job creators" and their political stooges who keep insisting that cutting taxes for wealthy individuals and corporations will stimulate employment.
NEWS
October 8, 2012
Mitt Romney parrots the standard Republican line that raising marginal tax rates for top income earners will stifle job creation ("Battle is joined over jobs, taxes," Oct. 4). Just once I would like someone to point out that employees of these small businesses are not paid out of after-tax income. Marginal tax rates notwithstanding, no business owner is going to hire or retain for very long a worker whose production cannot be translated into gross receipts that exceed the cost of employing that worker.
NEWS
By Ron Smith | June 16, 2011
There is a boom in baby boomer joblessness. It has more than doubled, from 3.2 percent to 6.8 percent, since the recession began. Earlier this week, a CBS Evening News report focused on the plight of unemployed professionals ages 55 and older in the Charlotte, N.C. area. Even the most organized among them - like those who make looking for a job a full-time job - can't find work. One of the people interviewed has a Harvard MBA but no job. Another, a 56-year-old financial professional, works long days trying to place himself in a new job, with no luck so far. He told reporter Byron Pitts that he has resigned himself to working into his 70s. We hear this all the time, don't we?
NEWS
April 3, 2011
Perhaps The Sun failed to report this in May 2010, but I do not remember hearing about an arbitration finding for the unionized workers of the Maryland Transit Administration. Actually, I don't remember ever reading anything over the years in regard to contract negotiations between the MTA and the transit union. Yet, in cities like Philadelphia, New York, Boston and others, contract negotiation updates are regularly provided by those transit agencies. Why are we not seeing that in Maryland?
BUSINESS
By BLOOMBERG NEWS | August 8, 2006
DETROIT -- Northwest Airlines Corp. said yesterday that its second-quarter loss widened because of spending related to its bankruptcy. The loss increased to $285 million, or $3.27 a share, from $226 million, or $2.69, a year earlier, the airline said. The 2005 per-share figure reflects payment of preferred dividends. The company made a $179 million second-quarter profit excluding bankruptcy reorganization costs of $464 million, or $5.31 a share. Excluding a gain from a stock sale and write-downs on aircraft values, the year-earlier loss would have been $288 million.
BUSINESS
By BLOOMBERG NEWS | April 30, 1999
WASHINGTON -- More Americans are buying new homes, labor costs for U.S. companies are rising at the lowest rate on record and claims for jobless benefits are falling, several government reports showed yesterday."
BUSINESS
By BLOOMBERG NEWS | November 11, 1998
WASHINGTON -- U.S. worker productivity accelerated in the third quarter, the government reported yesterday.The jump offset an increase in labor costs and gave Federal Reserve policy-makers room to cut interest rates again if they see a need to give financial markets a boost, analysts said.Productivity, which measures the time and effort needed to produce goods and services, rose at a 2.3 percent annual rate from July through September, after increasing at a 0.3 percent rate during the second quarter, Labor Department figures showed.
BUSINESS
By BLOOMBERG NEWS | July 29, 2006
WASHINGTON -- U.S. labor costs rose more than expected in the second quarter, led by the biggest increase in wages in three years, the Labor Department reported yesterday. The 0.9 percent rise in the employment cost index, the biggest since the first quarter 2005, followed a 0.6 percent gain the previous three months, the department said. Over the past year, labor costs were up 3 percent. Rising labor costs are another potential source of inflation as companies, already paying more for fuel, try to raise prices.
BUSINESS
By STEPHEN FRANKLIN, JIM MATEJA AND RICK POPELY and STEPHEN FRANKLIN, JIM MATEJA AND RICK POPELY,CHICAGO TRIBUNE | April 1, 2006
After months of tough talk, Delphi Corp. stood by its words yesterday, saying it would slash thousand of jobs, close or sell two-thirds of its U.S plants and ask a bankruptcy court judge for permission to throw out its union contracts. The judge has scheduled a hearing on the petition May 9 and no action is expected before then. The move by the nation's largest auto parts supplier raised the stakes in a five-month-old conflict that could have a far reaching impact on the company, its 33,000 workers, its unions and the U.S. auto industry.
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