This document analyzes the potential economic impact of a proposed bill (S6413) in New York that would increase the minimum wage. It finds that depending on future inflation rates, the bill could result in nearly 22,000 lost jobs in New York over 10 years and a $2.5 billion reduction in economic output. More than 70% of lost jobs would be in small businesses. The analysis models different inflation scenarios and estimates costs to employers, as well as potential secondary effects on near-minimum wage workers.
Spencer Levy - Capital Markets 2.0 - Did We Speak Too Soon?Ryan Slack
The document discusses recent market trends and statistics for commercial real estate investment sales in the United States. It notes that investment sales in 2011 are on pace to reach 2003-2004 levels across various property types like apartments, hotels, industrial, office, and retail. Transaction volume is up significantly from 2010 but still below peaks seen in 2006-2007. Debt financing for commercial real estate also increased substantially in the first half of 2011 compared to the previous year. The document provides charts and data on investment sales, property types, debt financing, and the breakdown of buyers and sellers in the commercial real estate market.
Dr. Julie Schoenman’s presentation for the MILI Actuarial Seminar series, “A Detailed Look at US Health Care Spending,” covers recent trends in public and private spending as well as the implications of rising spending for the federal budget outlook and for consumers.
The document compares projections for mobile advertising spending in 2010 to forecasts for 2011 across 210 US media markets. Total projected national and local mobile advertising spending for 2010 was $1.9 billion, projected to increase to $3.1 billion in 2011 forecasts. The top 5 markets by total projected 2010 spending were Chicago, New York, Los Angeles, Philadelphia and Dallas-Fort Worth. Mobile advertising was projected to account for 12.5% of total online advertising in 2010 and increase to 18.2% in 2011 forecasts.
Dr. Julie Schoenman’s presentation for the MILI Actuarial Seminar series, “A Detailed Look at US Health Care Spending,” covers recent trends in public and private spending as well as the implications of rising spending for the federal budget outlook and for consumers.
The document provides an overview of key economic and political factors that may impact the housing market in 2013, including the fiscal cliff, debt ceiling, Eurozone debt crisis, and state/federal policies. It summarizes housing market trends in Southwest California in 2012, with median home prices rising 9-30% year-over-year in areas like Lake Elsinore and Temecula. Demand remained strong with over 250 homes sold in January 2013 across the region.
Irs Audit Activity Am Best Conference 3 23 11 ForraySusanJF
1) The document discusses IRS audits of P&C insurance companies and summarizes industry reserve development trends from 1996-2010.
2) Major reserve deficiencies have occurred, totaling over $100 billion currently. Deficiencies are greater for prior accident years and larger, less financially strong companies.
3) Automobile insurance lines, especially bodily injury liability, have seen major deficiencies, along with other lines like general liability.
The document discusses healthcare in the United States. It covers several topics related to US healthcare, including what makes the US system different compared to other developed countries, what health insurance looks like in the US, costs associated with diabetes, and who pays for healthcare. The US system is unique in that it does not have universal healthcare coverage and relies more heavily on private insurance compared to other countries which have nationalized systems. Healthcare costs, especially for conditions like diabetes, place a large financial burden on individuals and the system.
Court decision to uphold the Affordable Care Act did little to clarify the future of health care reform and what it means for business. And once again, health care policy will be one of the key issues helping to decide this year’s presidential election. In late August, two of Minnesota’s most storied names in health care – HealthPartners and Park Nicollet – announced plans to combine their operations at the beginning of next year. Learn about the motivation behind one of the most significant local health care partnerships in decades. And, more importantly, hear how it relates to broader health care trends in our state and the important implications for Minnesota businesses and communities.
Andrea Walsh, Executive Vice President and Chief Marketing Officer, HealthPartners,Inc.
Spencer Levy - Capital Markets 2.0 - Did We Speak Too Soon?Ryan Slack
The document discusses recent market trends and statistics for commercial real estate investment sales in the United States. It notes that investment sales in 2011 are on pace to reach 2003-2004 levels across various property types like apartments, hotels, industrial, office, and retail. Transaction volume is up significantly from 2010 but still below peaks seen in 2006-2007. Debt financing for commercial real estate also increased substantially in the first half of 2011 compared to the previous year. The document provides charts and data on investment sales, property types, debt financing, and the breakdown of buyers and sellers in the commercial real estate market.
Dr. Julie Schoenman’s presentation for the MILI Actuarial Seminar series, “A Detailed Look at US Health Care Spending,” covers recent trends in public and private spending as well as the implications of rising spending for the federal budget outlook and for consumers.
The document compares projections for mobile advertising spending in 2010 to forecasts for 2011 across 210 US media markets. Total projected national and local mobile advertising spending for 2010 was $1.9 billion, projected to increase to $3.1 billion in 2011 forecasts. The top 5 markets by total projected 2010 spending were Chicago, New York, Los Angeles, Philadelphia and Dallas-Fort Worth. Mobile advertising was projected to account for 12.5% of total online advertising in 2010 and increase to 18.2% in 2011 forecasts.
Dr. Julie Schoenman’s presentation for the MILI Actuarial Seminar series, “A Detailed Look at US Health Care Spending,” covers recent trends in public and private spending as well as the implications of rising spending for the federal budget outlook and for consumers.
The document provides an overview of key economic and political factors that may impact the housing market in 2013, including the fiscal cliff, debt ceiling, Eurozone debt crisis, and state/federal policies. It summarizes housing market trends in Southwest California in 2012, with median home prices rising 9-30% year-over-year in areas like Lake Elsinore and Temecula. Demand remained strong with over 250 homes sold in January 2013 across the region.
Irs Audit Activity Am Best Conference 3 23 11 ForraySusanJF
1) The document discusses IRS audits of P&C insurance companies and summarizes industry reserve development trends from 1996-2010.
2) Major reserve deficiencies have occurred, totaling over $100 billion currently. Deficiencies are greater for prior accident years and larger, less financially strong companies.
3) Automobile insurance lines, especially bodily injury liability, have seen major deficiencies, along with other lines like general liability.
The document discusses healthcare in the United States. It covers several topics related to US healthcare, including what makes the US system different compared to other developed countries, what health insurance looks like in the US, costs associated with diabetes, and who pays for healthcare. The US system is unique in that it does not have universal healthcare coverage and relies more heavily on private insurance compared to other countries which have nationalized systems. Healthcare costs, especially for conditions like diabetes, place a large financial burden on individuals and the system.
Court decision to uphold the Affordable Care Act did little to clarify the future of health care reform and what it means for business. And once again, health care policy will be one of the key issues helping to decide this year’s presidential election. In late August, two of Minnesota’s most storied names in health care – HealthPartners and Park Nicollet – announced plans to combine their operations at the beginning of next year. Learn about the motivation behind one of the most significant local health care partnerships in decades. And, more importantly, hear how it relates to broader health care trends in our state and the important implications for Minnesota businesses and communities.
Andrea Walsh, Executive Vice President and Chief Marketing Officer, HealthPartners,Inc.
Costco's fiscal year ends in August. This document provides detailed sales and location data for Costco from fiscal years 2004 to 2008. It includes information on merchandise sales, membership fees, operating expenses, margins, comparable sales, new and closed locations by country. International growth exceeded Costco's 5% annual expansion rate in the US, with locations growing 7% annually in the UK, Mexico, and Taiwan, and 19% annually in Japan. Sales per item averaged nearly $14 million annually in 2008.
The document provides statistics on home sales and prices for primary residences, vacation homes, and investment properties from 2003-2008. It finds that in 2008, 70% of home purchases were for primary residences, while 9% were for vacation homes and 21% for investment properties. Median home prices declined substantially from 2007 to 2008 for all property types. The typical vacation home buyer was older (median age 46) than primary residence buyers (median age 37).
The Affordable Care Act and Businesses Where People are the Keylcatchpole
ACA is coming. It will be the biggest business change since the Internet. Businesses have the opportunity to change the future of healthcare inthe US. Business' know how to control costs. Businesses (mostly) care about their employees.
Here we talk to the high level forces at work in healthcare including ACA.
And here we talk to things employers can do to take control of healthcare costs - before they no longer can.
Home sales increased last year january 2012Matt Collinge
Home sales in British Columbia increased in 2011, with the total dollar volume of homes sold climbing 14.3% to $43.1 billion according to the British Columbia Real Estate Association. A total of 76,817 homes were sold, up 2.9% from 2010. The average home price also increased, climbing 11.1% to $561,026. The BCREA chief economist attributed the increases to low mortgage rates and a gradually improving economy.
Robert Knakal is the chairman and founding partner of Massey Knakal Realty Services, a commercial real estate brokerage firm. This document provides an overview and analysis of the New York City multi-family residential sales market from 2005 to 2011 based on data from Massey Knakal. It includes statistics on total sales volume, number of properties sold, average sale price per property, and capitalization rates for walk-up and elevator buildings across the five boroughs over this period.
This document analyzes the total costs of different mortgage plans for a homebuyer. It compares an FHA fixed loan, conventional loans with 5%, 10%, and 20% down, outlining details like loan amount, interest rate, monthly payment, and total costs over time. The analysis finds that a conventional 20% down loan would result in the lowest long-term costs and allow the homeowner to reach financial independence or "Freedom Point" the soonest.
Raytheon Reports 2007 Second Quarter Resultsfinance12
Raytheon reported second quarter 2007 earnings. Key highlights include:
- EPS from continuing operations of $0.79, up 30% from the previous year.
- Net sales of $5.4 billion, up 9% from the previous year.
- Bookings of $5.0 billion and backlog of $33.3 billion.
- The company increased its full-year 2007 guidance for EPS, bookings, and return on invested capital.
Sales climb in February 2012; pending sales rise to 11-month highSarasota Real Estate
Sales of homes and condos increased in February 2012 compared to January 2012 and February 2011 in the Sarasota real estate market. Pending home sales hit an 11-month high in February 2012 and median home prices were up substantially from a year ago. The inventory of homes continued to decline from previous months and years. Realtors reported that the market was very active with multiple offers on many homes.
This annual report summarizes WPS Resources Corporation's financial highlights for 2002. Key highlights include consolidated revenues of $1.6 billion for nonregulated operations and $1.05 billion for utility operations. Income available for common shareholders was $109.4 million, a 41% increase from 2001. Earnings per share increased 25% from 2001. The report also provides an overview of WPS Resources Corporation and its two main subsidiary utilities, Wisconsin Public Service Corporation and Upper Peninsula Power Company.
This slide show shows the incredible volume of sales completed by Coldwell Banker C&C Properties in northern California. I am the Siskiyou County satellite agent for Coldwell Banker C&C Properties proudly representing properties from the Pacific to Nevada and from Anderson to Oregon.
The document discusses the potential impacts of new mortgage regulations on the housing market. It suggests regulations under Dodd-Frank and Basel III could reduce the number of mortgage loans by up to 20%, leading to 600,000 fewer home sales. Tougher qualified mortgage rules may make it harder for some borrowers to get loans or cause them to pay higher rates. Overall, the regulations aim to strengthen the financial system but could constrain the housing recovery in the short-term.
The Progressive Corporation reported strong financial results for the first half of 2004, with net income of $846.3 million, up 46% from the same period in 2003. Net premiums earned grew 18% to $6.3 billion due to a 12% increase in net premiums written. The combined ratio was 84.3%, substantially better than industry averages. Progressive expects growth to slow as fewer customers actively shop for better rates in the stable market conditions. The company made progress on initiatives to improve claims handling and customer service.
The Victoria real estate market in February 2012 saw stable sales volume compared to the previous year but a softening of average home prices. While sales were virtually identical year-over-year, average single-family home prices decreased 5% from February 2011. The president of the Victoria Real Estate Board reported increased showings and expected more sales due to new provincial incentives and stable mortgage rates boosting consumer confidence. Listings remained sufficient to allow buyers to carefully consider options without rushing decisions.
More than a third of Canadians have withdrawn funds from their retirement savings plans, which could significantly impact their retirement. Reasons for withdrawals include buying a home, paying down debt, and covering day-to-day expenses. However, withdrawals deplete retirement savings and it is important to continue regular contributions. The article proposes a strategy to transfer funds from RRSPs to non-registered accounts in order to reduce taxes, allowing investments to grow more. Moving from fully taxable RRSPs to partially taxable non-registered accounts could substantially increase retirement savings over time.
Understanding the Federal Budget and Implications for Adult EducationMarcie Foster
This document summarizes the federal budget process and its implications for adult education funding. It explains that Congress has a multi-year budget process involving the President's budget, a budget resolution, and appropriations bills. It notes that sequestration cuts will reduce non-defense discretionary spending, including adult education, by 5% and have ongoing impacts. The document warns that more "deadlines" are approaching, including a continuing resolution for FY2013 that will implement the sequestration cuts, as well as future budget battles.
Through interviews with the client, a makeup artist, several key concepts were identified to convey through the brand including ethereal, theater, dreams, motion, and femininity. These concepts reflect something profound about the client's work in evoking emotion and feelings in her clients. The brand should convey this ability to make people feel special, powerful, and help them get out of monotony. The goal is for people to stop hiding and feel crowned through the client's work.
The Institute for Innovation & Governance Studies (IGS) is a priority research institute of the University of Twente that performs multidisciplinary research and postgraduate training in the governance and management of technological and social innovation. IGS aims to improve governance and management of technological and social change through research, training, and development focusing on bridging technological and societal expectations. IGS research covers entrepreneurial development, health systems, public governance, knowledge production, and sustainability concepts across technologies like ICT, energy, materials, biomedicine, and nanoscience.
La Web 2.0, que se basa en la creación de contenidos por los propios usuarios, puede transformar la forma en que las administraciones públicas interactúan con los ciudadanos. Al permitir hablar con todos de manera personalizada, la Web 2.0 convoca a más actores a participar e involucrarse. Aunque la mayoría de las sociedades aún no se han sumergido completamente en la plataforma 2.0, los países están avanzando hacia el uso intensivo de este tipo de herramientas.
Costco's fiscal year ends in August. This document provides detailed sales and location data for Costco from fiscal years 2004 to 2008. It includes information on merchandise sales, membership fees, operating expenses, margins, comparable sales, new and closed locations by country. International growth exceeded Costco's 5% annual expansion rate in the US, with locations growing 7% annually in the UK, Mexico, and Taiwan, and 19% annually in Japan. Sales per item averaged nearly $14 million annually in 2008.
The document provides statistics on home sales and prices for primary residences, vacation homes, and investment properties from 2003-2008. It finds that in 2008, 70% of home purchases were for primary residences, while 9% were for vacation homes and 21% for investment properties. Median home prices declined substantially from 2007 to 2008 for all property types. The typical vacation home buyer was older (median age 46) than primary residence buyers (median age 37).
The Affordable Care Act and Businesses Where People are the Keylcatchpole
ACA is coming. It will be the biggest business change since the Internet. Businesses have the opportunity to change the future of healthcare inthe US. Business' know how to control costs. Businesses (mostly) care about their employees.
Here we talk to the high level forces at work in healthcare including ACA.
And here we talk to things employers can do to take control of healthcare costs - before they no longer can.
Home sales increased last year january 2012Matt Collinge
Home sales in British Columbia increased in 2011, with the total dollar volume of homes sold climbing 14.3% to $43.1 billion according to the British Columbia Real Estate Association. A total of 76,817 homes were sold, up 2.9% from 2010. The average home price also increased, climbing 11.1% to $561,026. The BCREA chief economist attributed the increases to low mortgage rates and a gradually improving economy.
Robert Knakal is the chairman and founding partner of Massey Knakal Realty Services, a commercial real estate brokerage firm. This document provides an overview and analysis of the New York City multi-family residential sales market from 2005 to 2011 based on data from Massey Knakal. It includes statistics on total sales volume, number of properties sold, average sale price per property, and capitalization rates for walk-up and elevator buildings across the five boroughs over this period.
This document analyzes the total costs of different mortgage plans for a homebuyer. It compares an FHA fixed loan, conventional loans with 5%, 10%, and 20% down, outlining details like loan amount, interest rate, monthly payment, and total costs over time. The analysis finds that a conventional 20% down loan would result in the lowest long-term costs and allow the homeowner to reach financial independence or "Freedom Point" the soonest.
Raytheon Reports 2007 Second Quarter Resultsfinance12
Raytheon reported second quarter 2007 earnings. Key highlights include:
- EPS from continuing operations of $0.79, up 30% from the previous year.
- Net sales of $5.4 billion, up 9% from the previous year.
- Bookings of $5.0 billion and backlog of $33.3 billion.
- The company increased its full-year 2007 guidance for EPS, bookings, and return on invested capital.
Sales climb in February 2012; pending sales rise to 11-month highSarasota Real Estate
Sales of homes and condos increased in February 2012 compared to January 2012 and February 2011 in the Sarasota real estate market. Pending home sales hit an 11-month high in February 2012 and median home prices were up substantially from a year ago. The inventory of homes continued to decline from previous months and years. Realtors reported that the market was very active with multiple offers on many homes.
This annual report summarizes WPS Resources Corporation's financial highlights for 2002. Key highlights include consolidated revenues of $1.6 billion for nonregulated operations and $1.05 billion for utility operations. Income available for common shareholders was $109.4 million, a 41% increase from 2001. Earnings per share increased 25% from 2001. The report also provides an overview of WPS Resources Corporation and its two main subsidiary utilities, Wisconsin Public Service Corporation and Upper Peninsula Power Company.
This slide show shows the incredible volume of sales completed by Coldwell Banker C&C Properties in northern California. I am the Siskiyou County satellite agent for Coldwell Banker C&C Properties proudly representing properties from the Pacific to Nevada and from Anderson to Oregon.
The document discusses the potential impacts of new mortgage regulations on the housing market. It suggests regulations under Dodd-Frank and Basel III could reduce the number of mortgage loans by up to 20%, leading to 600,000 fewer home sales. Tougher qualified mortgage rules may make it harder for some borrowers to get loans or cause them to pay higher rates. Overall, the regulations aim to strengthen the financial system but could constrain the housing recovery in the short-term.
The Progressive Corporation reported strong financial results for the first half of 2004, with net income of $846.3 million, up 46% from the same period in 2003. Net premiums earned grew 18% to $6.3 billion due to a 12% increase in net premiums written. The combined ratio was 84.3%, substantially better than industry averages. Progressive expects growth to slow as fewer customers actively shop for better rates in the stable market conditions. The company made progress on initiatives to improve claims handling and customer service.
The Victoria real estate market in February 2012 saw stable sales volume compared to the previous year but a softening of average home prices. While sales were virtually identical year-over-year, average single-family home prices decreased 5% from February 2011. The president of the Victoria Real Estate Board reported increased showings and expected more sales due to new provincial incentives and stable mortgage rates boosting consumer confidence. Listings remained sufficient to allow buyers to carefully consider options without rushing decisions.
More than a third of Canadians have withdrawn funds from their retirement savings plans, which could significantly impact their retirement. Reasons for withdrawals include buying a home, paying down debt, and covering day-to-day expenses. However, withdrawals deplete retirement savings and it is important to continue regular contributions. The article proposes a strategy to transfer funds from RRSPs to non-registered accounts in order to reduce taxes, allowing investments to grow more. Moving from fully taxable RRSPs to partially taxable non-registered accounts could substantially increase retirement savings over time.
Understanding the Federal Budget and Implications for Adult EducationMarcie Foster
This document summarizes the federal budget process and its implications for adult education funding. It explains that Congress has a multi-year budget process involving the President's budget, a budget resolution, and appropriations bills. It notes that sequestration cuts will reduce non-defense discretionary spending, including adult education, by 5% and have ongoing impacts. The document warns that more "deadlines" are approaching, including a continuing resolution for FY2013 that will implement the sequestration cuts, as well as future budget battles.
Through interviews with the client, a makeup artist, several key concepts were identified to convey through the brand including ethereal, theater, dreams, motion, and femininity. These concepts reflect something profound about the client's work in evoking emotion and feelings in her clients. The brand should convey this ability to make people feel special, powerful, and help them get out of monotony. The goal is for people to stop hiding and feel crowned through the client's work.
The Institute for Innovation & Governance Studies (IGS) is a priority research institute of the University of Twente that performs multidisciplinary research and postgraduate training in the governance and management of technological and social innovation. IGS aims to improve governance and management of technological and social change through research, training, and development focusing on bridging technological and societal expectations. IGS research covers entrepreneurial development, health systems, public governance, knowledge production, and sustainability concepts across technologies like ICT, energy, materials, biomedicine, and nanoscience.
La Web 2.0, que se basa en la creación de contenidos por los propios usuarios, puede transformar la forma en que las administraciones públicas interactúan con los ciudadanos. Al permitir hablar con todos de manera personalizada, la Web 2.0 convoca a más actores a participar e involucrarse. Aunque la mayoría de las sociedades aún no se han sumergido completamente en la plataforma 2.0, los países están avanzando hacia el uso intensivo de este tipo de herramientas.
The document discusses options for implementing green IT initiatives to reduce energy consumption from desktop computing. It analyzes replacing CRT monitors with LCDs, replacing desktops with thin clients or laptops, raising user awareness, deploying power policies using group policies, and using an intelligent software-based solution called infraSECURE. InfraSECURE provides the benefits of 50-66k annual savings per 1000 desktops without dependencies on user behavior, maintains productivity, requires minimal investment and effort with ROI in less than 6 months, and generates no e-waste. It is concluded to be the ideal green IT solution.
The document discusses the history and changing nature of color from prehistory to modern digital technologies. It notes how color has moved from having inherent meanings within cultural hierarchies to being viewed as a matter of individual taste. With the rise of digital technologies and mathematics, color has been reduced to numerical representations without cultural significance. This has contributed to a loss of shared meaning and fragmented social order in a world where color is divorced from cultural grammars.
This document provides the schedule and details for Startup Weekend Lexington, taking place from November 18-20, 2011. It outlines the schedule for each day which includes pitches, team formation, development sprints, presentations and wrap up. It also lists the coaches, sponsors and organizing partners for the event.
The document contains data from water sampling in the Gualeguaychú River from 2006 to 2009, measuring levels of heavy metals including lead, cadmium, chromium, iron, nickel, mercury, manganese, zinc, cobalt, vanadium, molybdenum, palladium, and silver. It shows the average concentrations of each metal for each year as well as the overall average across all four years. It also breaks the data down by trimester for each metal in each year.
The document provides guidance on how to build a network on Twitter. It recommends first observing how others interact on Twitter before posting tweets. It suggests tweeting regularly over 5 days to establish a baseline of information about your interests before following others or asking others to follow you. The document then outlines different ways to build a network, including following interesting accounts, inviting contacts by email, searching for people by name, and following accounts that your own followers follow. The goal is to expand your network through mutual engagement while establishing yourself as a source of quality information.
This document summarizes key concepts in political philosophy. It discusses Aristotle's view of humans as political animals. It also discusses Hobbes' view of the state of nature as a "war of all against all" without security or industry. Rousseau believed the social contract creates a body where each member is an indivisible part. Rawls outlined two principles of justice. Habermas discussed legitimation theory and communicative rationality. The document also discusses democracy, conflict, cosmopolitanism, and the concept of sovereignty and the state of exception.
The document discusses standards for describing users and their attributes, emotions, activities, and interests to help recommend personalized content. It also outlines requirements for a proposed MPEG User Description standard being developed by the ISO working group on coding of moving pictures and audio. The document provides examples of how user description data could be used to identify a user's emotion from their voice and recommend suitable music to alleviate boredom.
This document discusses the history and technical aspects of image compression technologies used for digital media. It traces the development from early lithography and photography in the 1800s through technologies like television, fax machines, and digital codecs. It examines key aspects of standards like H.261 used for video conferencing, including its hierarchical structure, use of color spaces like YCbCr, keyframes, and vector prediction. It raises issues around how these technologies encode images in ways that commodify and average information according to probabilistic and protocol-driven logics, reflecting the rise of database-centric economies.
The 5th eGuide in our series. Wondering how interest rates have an impact on your monthly mortgage payment? This eGuide will explain how rates and timing financially impact your future payments.
The document contains a homework assignment with 5 multiple choice questions regarding financial concepts such as loan amortization, interest rates, present and future value, and calculating savings needed for college tuition. Key details include how interest rates and time periods impact loan payments, the effective annual rate difference between two loan offers, using the future value and present value formulas to calculate savings amounts, and determining the annual savings needed to cover increasing college costs.
Dr. David Kohl - Financial and Management Planning for Young ProducersJohn Blue
Financial and Management Planning for Young Producers - Dr. David Kohl, Professor Emeritus, Agricultural Finance and Small Business Management, Virginia Tech, from the 2013 Minnesota Pork Congress, January 16-17, Minneapolis, MN, USA.
More presentations at http://www.swinecast.com/2013-minnesota-pork-congress
Ted Simpson presented on the state of commercial real estate markets in Los Angeles County. Key points included:
1) The industrial market has seen a big bounce back in 2010 with rising profits and job growth, though vacancies remain elevated.
2) The retail market saw rental rates stabilize in 2010 but vacancies remained high. Sales prices per square foot have fallen since their 2007 peak.
3) The office market saw record high vacancies in 2009 and negative absorption for nine consecutive quarters, though construction completions halted which will help limit further rising vacancies.
4) Overall the commercial real estate markets are recovering but vacancies remain well above historic averages and sustained job growth is needed for a full recovery.
The document shows historical data on US federal tax receipts, spending, deficits, and debt from 1992-2019, projecting increases over time. It predicts that based on annual increases in government outlays, the US will see a 57% rise in federal income taxes and a 167% increase in accumulated federal debt by 2020. The data illustrates growing deficits and debt as a percentage of GDP if spending increases 4% annually while tax revenues only grow 5%.
The report provides information on recent property sales in the suburb of Dalkeith, Western Australia. It finds that the median house price in Dalkeith is currently $2,405,000, with a 1-year return of -14% and 3-year return of -14%. Recent property sales in Dalkeith have ranged from $1,460,000 to $6,000,000.
Greg Poulsen, vice president of strategy for Intermountain Healthcare, gave the Salt Lake Chamber Capitol Club an inside look at the federal healthcare bill and the effect it will have on reform efforts in Utah.
Naa Annual Newspaper Ad Expenditures 09Juan Varela
The document shows advertising spending data for national, retail, classified, and total newspaper print advertising from 2009 to 2004. It also includes data for newspaper online advertising and the combined total for newspaper print and online advertising. Some key findings are that total newspaper print advertising declined between 26.2% to 1.7% annually over this period. Newspaper online advertising increased between 11.8% to 31.5% each year, but did not make up for the declines in print advertising as the combined newspaper print and online total declined between 27.2% to 0.3% each year.
Copy Tested Of Imc09 Payback Analysis Jc 072209ccaywood
This document compares the lifetime costs and earnings of obtaining an IMC degree versus not obtaining one. It shows that with an IMC, earnings increase more quickly, reaching the ROI payback goal of 25% by year 9. Without an IMC, earnings rise more slowly and the payback goal is never reached. Changing assumptions like tuition costs and time to complete the program can impact the break-even year.
Public Service Loan Forgiveness November 2011Alisa Rosales
The document provides information about two federal student loan repayment programs: Public Service Loan Forgiveness and Income-Based Repayment. It summarizes the key eligibility requirements and benefits of each program, including that Public Service Loan Forgiveness forgives the remaining loan balance after 120 qualifying monthly payments over 10 years for borrowers working in public service jobs, while Income-Based Repayment forgives any remaining balance after 25 years of repayment for all eligible borrowers. It also discusses factors that determine repayment amounts under Income-Based Repayment and lists resources for more information.
This document contains tables and graphs showing the monthly profits, costs, and interest accrued on loans for a business over 5 years. It includes the monthly profits from January to December for each of the 5 years. It also includes tables listing the costs of various inventory items purchased each year, advertising costs, and a amortization schedule showing the monthly payments, interest, and balances on a $1,175 business loan over 14 months. References are provided at the end.
This document contains tables and graphs showing the monthly profits, costs, and interest accrued on loans for a business over 5 years. It includes the monthly profits from January to December for each of the 5 years. It also includes tables listing the costs of various inventory items purchased each year, advertising costs, and a amortization schedule showing the monthly payments, interest, and balances on a $1,175 business loan over 14 months. References are provided at the end.
Outsourced Innovation Case Report- Rose Acre Farmsadambcarney
This document summarizes the results of a performance evaluation of LED lighting installed at a poultry farm. Baseline readings were taken of the existing lighting fixtures before the LED lights were installed. Follow-up readings after 4 months show that the LED lights provided improved illumination levels while using significantly less power than the previous lights. A cost analysis over a 20-year period demonstrates that the LED lights provide a positive return on investment and pay for themselves within 4 years due to energy and maintenance savings. The results are specific to this location but indicate that LED lights can provide long-term reliable and efficient lighting for agricultural applications.
According to the document:
- Print and online classified advertising revenue for the newspaper industry declined between 2008 and 2003, with total declines of 17.7% and 16.6% respectively for print and total revenues over that period.
- Online classified revenues increased between 2003 and 2005 but have declined since, falling 1.8% in 2008.
- The steepest declines were in print classified advertising, falling 29.7% in 2008.
The document provides an overview of Oklahoma's state budget trends from FY 2002 to FY 2010. It finds that while the state saw revenue growth during economic boom years of FY 2006 to FY 2008, budget cuts in previous years and ongoing tax cuts have left the state underfunding most public services. The state now faces major revenue shortfalls in FY 2010 as the recession has significantly reduced tax collections, with the shortfall for the full year estimated at $700 million or 13.7% below appropriated amounts.
- Common pricing policies for public electric vehicle charging stations include flat hourly rates, hourly rates plus connection fees, and flat monthly rates. However, these policies can discriminate against smaller battery electric vehicles and discourage general utilization.
- Analyzing residential charging costs versus non-residential charging costs shows that flat fees can significantly increase costs per electric mile driven for drivers, especially for those with smaller batteries taking fewer miles per charge. Electricity markup rates provide a more equitable alternative.
- The document recommends electricity markup rates as a pricing structure that is simple, transparent, fair to all drivers, and can maximize revenue and financial sustainability for charging station operators compared to discriminatory flat fee structures.
This document contains summary reports and pivot tables analyzing average rates for four construction industries from 2011-2021. The commercial building industry had the highest average rates from 2019-2021 at $36.24 while residential remodelers had the lowest at $27.83. The industrial and commercial building industries had similar average rates that differed by only $0.42. The month of June generally had the lowest average rates across all industries.
This document summarizes tax revenue and economic activity data for the City of San Angelo for various quarters from 2010-2013. Specifically, it provides:
- Tax revenue figures for San Angelo, the Central Business District (CBD), and Main Street area for 1st quarter 2013 and comparisons to previous years.
- Mixed beverage, sales, and other tax data by quarter for 2010-2013.
- Details of 5 private sector reinvestment projects and 1 public project that occurred in the 1st quarter of 2013.
- Additional economic indicators for the 1st quarter such as business starts/expansions, jobs gained, volunteer hours, and downtown housing.
The summary shows a general
ct-1040tcs gov drs lib drs form 2006forms incometaxman taxman
The document contains tables that provide guidance for calculating Connecticut personal income tax exemptions, tax amounts, and credits for the 2008 tax year. Table A lists exemption amounts based on filing status and income. Table B gives instructions for calculating tax amounts as a percentage of income above certain thresholds. Table C provides a decimal credit amount that applies to the total tax based on filing status and income. The tables are used to complete the Tax Calculation Schedule, which determines Connecticut taxable income, tax owed, and total tax after applying credits.
Unshackle Upstate and NFIB-NY, New York's leading taxpayer and small business advocacy organizations are opposed to Senator Cecilia Tkaczyk's tax-and-spend agenda.
This document endorses George Amedore for State Senate. It states that George Amedore knows how to run a successful business and create jobs, which is why he has been endorsed by New York's leading business and taxpayer organizations, NFIB and Unshackle Upstate. It encourages voting for George Amedore for State Senate on November 4th.
This document contains data on unemployment rates and population loss in upstate New York counties from 2010 to 2012. It lists the counties with the highest unemployment rates in May 2013, ranging from 9.3% in Lewis County to 7.6% in Cattaraugus and Hamilton Counties, which matched the New York State and U.S. rates that month. It also lists counties that experienced the greatest population declines from 2010 to 2012, from -1.5% in Delaware County to -0.1% in Orleans County, while New York State grew 1.0% and the U.S. grew 1.7% during that period. The source is listed as the New York State Department of Labor and U
The document proposes reducing taxes for Upstate New York residents and businesses over 4 years at a total approximate cost of $860 million. It includes reducing state income taxes for low-income residents, phasing out the corporate franchise tax, reducing sales tax in some counties, eliminating an energy assessment for manufacturers, and developing natural gas resources from Marcellus Shale.
The document discusses reforming New York State's Scaffold Law from 1885. It argues that the law is outdated and places absolute liability on contractors for elevation-related injuries, leading to high insurance costs that drive up construction costs and unemployment. Reform would add a comparative negligence standard used in other civil liability cases, allowing consideration of worker negligence, to make the law fairer while still protecting worker safety and rights. Reform supporters argue it would improve safety, create jobs, and provide equity for all involved in construction projects in New York.
The New York Thruway Authority has been cancelling and rescheduling meetings to approve a proposed 45% toll increase on trucks without public notice, highlighting the need for reform. Assemblyman Tony Jordan introduced a bill that would require legislative approval for regulatory agency decisions with fiscal impacts over $5 million statewide to increase transparency and accountability of public authorities like the Thruway Authority. The toll hike would hurt businesses and families by increasing costs of consumer goods.
Senator Gallivan urged the Thruway Authority Board to avoid a planned 45% toll increase on three-axel vehicles and instead consider separating the State's Canal System from the Authority. Gallivan argued that a toll increase would hurt the economy and cause trucks to use less suitable local roads instead of the Thruway. Separating the canal system would save the Authority $107 million annually and subject canal costs and operations to legislative oversight through the state budget. Gallivan has been a vocal opponent of toll hikes and introduced legislation in September to sever the canal system from the Authority.
Sean Hanna is running for state senate on November 6 and this document encourages voting for him. It states that Sean Hanna will work hard to create jobs, cut taxes, and fix problems in Albany. It also notes that Sean Hanna earned an 87 on an Unshackle Upstate legislative scorecard, showing him to be a proven leader.
The document outlines a volunteer campaign schedule for George's campaign leading up to the November 6th election. It provides locations, times, and contact information for door knocking, phone banking, sign waving, and packet pickup opportunities between November 1st and November 6th. The campaign is looking for volunteers of all abilities to help in the final push toward election day.
This document contains endorsements from the organization Unshackle Upstate of three candidates for New York State Senate: George Amedore, Mark Grisanti, and Sean Hanna. It notes that each candidate earned a high score (93, 88, and 87, respectively) on Unshackle Upstate's 2012 Legislative Scorecards for their support of job creation and protecting taxpayers. Unshackle Upstate urges people to vote for each candidate on November 6.
The letter strongly opposes the proposed 45% toll increase for commercial vehicles on the New York State Thruway. It argues that the large toll hike will hurt businesses and the economy, and potentially force some trucking companies to leave New York. It urges the Thruway Authority to abandon this proposal and consider more responsible long-term solutions to improve its fiscal management.
The document summarizes a report by the New York State Comptroller assessing the finances and proposed toll increase of the New York State Thruway Authority. It finds that the Thruway Authority's revenues have not kept pace with expenses in recent years, due in part to taking on responsibility for the State's Canal System. It also notes increasing debt service costs and concludes the Authority has failed to demonstrate fiscal responsibility or provide specific plans to achieve efficiencies, making the need for a toll increase uncertain.
The document is an email from Assembly Minority Leader Brian Kolb urging recipients to oppose the proposed 45% toll hike on trucks by the New York Thruway Authority. It provides three actions recipients can take - contacting the Thruway Authority in writing or by attending public hearings, and contacting their state legislators - and notes that public comments are due by August 24. Kolb states that the toll hike will hurt businesses and the economy if allowed to pass.
Assemblyman Frank Skartados is fighting a proposed 45% toll increase on trucks by the Thruway Authority. He has demanded the authority abandon its toll hike plan, urged an audit of the authority, and will testify against the increase at an upcoming public hearing. The flyer encourages residents to submit comments opposing the toll increase to the authority.
Shark Tank Jargon | Operational ProfitabilityTheUnitedIndian
Don't let fancy business words confuse you! This blog is your cheat sheet to understanding the Shark Tank Jargon. We'll translate all the confusing terms like "valuation" (how much the company is worth) and "royalty" (a fee for using someone's idea). You'll be swimming with the Sharks like a pro in no time!
Recent years have seen a disturbing rise in violence, discrimination, and intolerance against Christian communities in various Islamic countries. This multifaceted challenge, deeply rooted in historical, social, and political animosities, demands urgent attention. Despite the escalating persecution, substantial support from the Western world remains lacking.
ग्रेटर मुंबई के नगर आयुक्त को एक खुले पत्र में याचिका दायर कर 540 से अधिक मुंबईकरों ने सभी अवैध और अस्थिर होर्डिंग्स, साइनबोर्ड और इलेक्ट्रिक साइनेज को तत्काल हटाने और 13 मई, 2024 की शाम को घाटकोपर में अवैध होर्डिंग के गिरने की विनाशकारी घटना के बाद अपराधियों के खिलाफ सख्त कार्रवाई की मांग की है, जिसमें 17 लोगों की जान चली गई और कई निर्दोष लोग गंभीर रूप से घायल हो गए।
15062024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
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Why We Chose ScyllaDB over DynamoDB for "User Watch Status"ScyllaDB
Yichen Wei and Adam Drennan share the architecture and technical requirements behind "user watch status" for a major global media streaming service, what that meant for their database, the pros and cons of the many options they considered for replacing DynamoDB, why they ultimately chose ScyllaDB, and their lessons learned so far.
Federal Authorities Urge Vigilance Amid Bird Flu Outbreak | The Lifesciences ...The Lifesciences Magazine
Federal authorities have advised the public to remain vigilant but calm in response to the ongoing bird flu outbreak of highly pathogenic avian influenza, commonly known as bird flu.
12062024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
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13062024_First India Newspaper Jaipur.pdfFIRST INDIA
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17062024_First India Newspaper Jaipur.pdfFIRST INDIA
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Christian persecution in Islamic countries has intensified, with alarming incidents of violence, discrimination, and intolerance. This article highlights recent attacks in Nigeria, Pakistan, Egypt, Iran, and Iraq, exposing the multifaceted challenges faced by Christian communities. Despite the severity of these atrocities, the Western world's response remains muted due to political, economic, and social considerations. The urgent need for international intervention is underscored, emphasizing that without substantial support, the future of Christianity in these regions is at grave risk.
https://ecspe.org/the-rise-of-christian-persecution-in-islamic-countries/
16062024_First India Newspaper Jaipur.pdfFIRST INDIA
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18062024_First India Newspaper Jaipur.pdfFIRST INDIA
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लालू यादव की जीवनी LALU PRASAD YADAV BIOGRAPHYVoterMood
Discover the life and times of Lalu Prasad Yadav with a comprehensive biography in Hindi. Learn about his early days, rise in politics, controversies, and contribution.
1. Michael J. Chow
NFIB Research Foundation
Washington, DC
November 1, 2012
Economic Effects of a New York Minimum Wage Increase:
An Econometric Scoring of S6413
This report analyzes the potential economic impact of implementing the changes to New
York minimum wage laws contained in S6413 on private sector employment and production.
S6413, originally introduced on February 6, 2012 by Senator Jeffrey D. Klein would (a) raise the
minimum wage in New York to $8.50 beginning in 2013 and (b) provide for future increases in
the minimum wage dependent upon cost of living adjustments. Billed as a measure that would
help reduce income inequality, the long-run effect of the legislation would be the destruction of
jobs and economic production in the state of New York. Depending upon the rate of inflation in
future years, enacting legislation containing the essence of S6413 could result in nearly 22,000
lost jobs in New York over a ten-year period and a reduction in real output of $2.5 billion. More
than 70 percent of the lost jobs would be jobs from the small business sector of the economy.
1
2. Introduction
Employers in all fifty states are required to offer workers a minimum wage in exchange for their
labor. The primary federal statute in the area of minimum wages is the Fair Labor Standards Act
(FLSA) of 1938 which, as amended, establishes a basic minimum wage that must be paid to
covered workers. The current federal minimum wage is $7.25 per hour. States are permitted to
establish their own minimum wages which have the potential to replace the federal rate as the
basic minimum wage, provided that the state minimum wage established exceeds the federal rate.
The effective minimum wage in the state of New York is currently $7.25, equal to the federal
rate (Table 1).
Table 1: Historical Effective Minimum Wage Rates for New York
Year Minimum Wage Year Minimum Wage
1972 $1.85 1993 $4.25
1973 $1.85 1994 $4.25
1974 $1.85 1995 $4.25
1975 $1.85 1996 $4.25
1976 $2.30 1997 $4.25
1977 $2.30 1998 $4.25
1978 $2.30 1999 $4.25
1979 $2.90 2000 $4.25
1980 $3.10 2001 $5.15
1981 $3.35 2002 $5.15
1982 $3.35 2003 $5.15
1983 $3.35 2004 $5.15
1984 $3.35 2005 $6.00
1985 $3.35 2006 $6.75
1986 $3.35 2007 $7.15
1987 $3.35 2008 $7.15
1988 $3.35 2009 $7.15
1989 $3.35 2010 $7.25
1990 $3.35 2011 $7.25
1991 $3.80 2012 $7.25
1992 $4.25 ---- -----
Source: Department of Labor
Despite multiple recent increases in the state minimum wage (the state minimum wage
has increased 40.8 percent over the past decade), state legislators continue to push for additional
increases. The most recent attempt takes the form of S6413, a bill originally introduced on
February 6, 2012 by Senator Jeffrey D. Klein. If passed, the bill would raise the minimum wage
to $8.50 in 2013. Future increases to the state minimum wage rate would be guaranteed vis-à-vis
indexation to cost of living increases on an annual basis.
2
3. This brief report attempts to quantify the potential economic impact implementation of
S6413 might have on New York small businesses and their employees by using the Business
Size Insight Module (BSIM). The BSIM is a dynamic, multi-region model based on the
Regional Economic Models, Inc. (REMI) structural economic forecasting and policy analysis
model which integrates input-output, computable general equilibrium, econometric, and
economic geography methodologies. It has the unique ability to forecast the economic impact of
public policy and proposed legislation on different categories of U.S. businesses differentiated by
size of firm. Forecast variables include levels of private sector employment and real output. By
comparing simulation results for scenarios which include proposed or yet-to-be-implemented
policy changes with the model’s baseline forecast, the BSIM is able to obtain estimates of how
these policy changes might impact employer firms and their workers.
Description of New Employer Costs Under S6413
Minimum wage increases raise the cost of labor for employers.1 S6413 is no exception to this
rule. Increases to the New York minimum wage law constitute a direct increase in employer
costs. Intended to take effect on January 1, 2013, the bill would increase the minimum wage to
$8.50 with annual adjustments in future years linked to increases in the cost of living as
measured by the Consumer Price Index for all urban consumers.
The precise amount of additional wages employers must pay under S6413 is uncertain
since future wage increases depend upon future (unknown) cost of living adjustments (COLA).
Due to this uncertainty, the analysis in this report relies on a set of three different COLA paths
which, with the assistance of the BSIM, provide a range of potential employment and production
effects resulting from S6413’s implementation. The three paths chosen for this analysis were a
path with no increases in the cost of living in future years, a path with two percent annual
increases in the cost of living, and a path with four percent annual increases in the cost of living.
With historical rates of increases in the cost of living in mind, these three paths can reasonably
be expected to include within their range the actual, realized path of future cost of living
adjustments. Table 2 presents the hypothetical paths the New York minimum wage would take
under these three scenarios assuming that S6413 is implemented in 2013.
Larger increases in cost of living adjustments translate to larger increases from the status
quo minimum wage, leading to larger additional employer costs in future years. The additional
per-employee wage burdens shouldered by employers in future years is presented in Table 3 in
percentage terms. Assuming zero percentage changes to the cost of living in future years, the
increase of the minimum wage to $8.50 per hour still represents a 17.2 percent increase in the
1
Good overviews of the literature on the minimum wage can be found in:
Brown, Charles, Curtis Gilroy, and Andrew Cohen, “The Effect of the Minimum Wage on Employment and
Unemployment: A Survey,” NBER Working Paper No. 846, January 1982;
Neumark, David and William Wascher, “Minimum Wages, Labor Market Institutions, and Youth Employment:
A Cross-National Analysis,” Industrial and Labor Relations Review, Vol. 57, No. 2, January 2004.
3
4. minimum wage. In contrast, constant cost of living adjustments of two percent annually will
result in a 40.1 percent increase in the minimum wage in 2022, ten years from 2013, the assumed
year of implementation. Constant cost of living adjustments of four percent annually will result
in a minimum wage that is 66.9 percent higher than it is today.
Table 2: Future New York Minimum Wage Trajectories Under Different Cost of Living
Adjustment Paths
Hypothetical Hypothetical Hypothetical
Minimum Wage Minimum Wage Minimum Wage
Schedule, Schedule, Schedule,
Year 0 Percent COLA Path 2 Percent COLA Path 4 Percent COLA Path
2012 $7.25 $7.25 $7.25
2013 $8.50 $8.50 $8.50
2014 $8.50 $8.67 $8.84
2015 $8.50 $8.84 $9.19
2016 $8.50 $9.02 $9.56
2017 $8.50 $9.20 $9.94
2018 $8.50 $9.38 $10.34
2019 $8.50 $9.57 $10.76
2020 $8.50 $9.76 $11.19
2021 $8.50 $9.96 $11.63
2022 $8.50 $10.16 $12.10
Table 3: Per-Employee Percentage Increase in Minimum Wage (Compared to Status Quo)
Under Different Cost of Living Adjustment Paths
Hypothetical Hypothetical Hypothetical
Minimum Wage Minimum Wage Minimum Wage
Schedule, Schedule, Schedule,
Year 0 Percent COLA Path 2 Percent COLA Path 4 Percent COLA Path
2013 17.2% 17.2% 17.2%
2014 17.2% 19.6% 21.9%
2015 17.2% 22.0% 26.8%
2016 17.2% 24.4% 31.9%
2017 17.2% 26.9% 37.2%
2018 17.2% 29.4% 42.6%
2019 17.2% 32.0% 48.3%
2020 17.2% 34.7% 54.3%
2021 17.2% 37.4% 60.5%
2022 17.2% 40.1% 66.9%
An important aspect of modeling minimum wage increases is “tipped” employees.
According to the U.S. Department of Labor (DOL), tipped employees are employees who
“customarily and regularly receive more than $30 per month in tips.”2 Employers may use tips
received by such employees as a credit against their minimum wage obligations to the employees,
2
For detailed information on tipped employees, a useful resource is the DOL fact sheet available here:
http://www.dol.gov/whd/regs/compliance/whdfs15.pdf.
4
5. provided that a minimum cash wage, currently set to $2.13 per hour at the federal level, is also
paid to the employees. States have the option of establishing their own cash wage. New York’s
current cash wage is approximately $5.00 per hour.3 S6413 would raise this cash wage to $5.86
per hour.
A second issue a modeler must concern himself with when modeling an increase in the
state minimum wages is business size exemptions. Some states exempt businesses of a certain
size from minimum wage requirements. The state of Illinois, for example, exempts employer
firms with three or fewer employees from minimum wage laws. No such exemptions exist for
the state of New York, and all employer firms in the state are therefore assumed to be affected by
S6413.
A third issue takes the form of potential “emulation effects” associated with individuals
earning near (just above) the minimum wage. Some of these individuals will earn between $7.25
per hour and $8.50 and will see their wages raised automatically to $8.50 if the bill passes,
although their wages may increase to even higher levels if employers attempt to maintain the
pre-implementation wage structure. Other workers will earn just slightly above $8.50 and
despite not being affected directly by the legislation, can be expected to pressure their employers
for a raise in order to maintain the wage premium between them and the lowest-earning
individuals in the economy. Failure to increase the wages of near-minimum-wage earners and
allowing wage compression to occur may result in workers expressing their dissatisfaction by
reducing work effort or leaving. Research suggests that “relative wages are important to
workers,” and “firms may find it in their profit-maximizing interest to increase [near-minimum-
wage] workers’ wages when minimum wages increase, in an attempt to restore work effort.”4
For the modeler, a key concern involves estimating how many workers can be expected to
contribute to such emulation effects. Based upon state-level data from the Bureau of Labor
Statistics, for this analysis it was adjudged that 15 percent of New York’s private sector
employees less those individuals directly affected by S6413 would also see per capita raises
equal to the dollar amount in wage increases experienced by workers earning at the minimum
wage (equivalent to an initial raise of $1.25 per hour).5 Wage increases for these workers are
assumed to occur simultaneously with the future scheduled increases in the minimum wage.6
3
A good source for information on mandated cash wages paid to tipped employees by state is the National
Restaurant Association’s minimum wage map, available at http://restaurant.org/pdfs/advocacy/map_minwage.pdf.
4
Grossman, Jean Baldwin, “The Impact of the Minimum Wage on Other Wages,” The Journal of Human Resources,
Vol. 18, No. 3 (Summer 1983).
5
According to the Bureau of Labor Statistics, New York wage earners at the 10 th percentile earn $8.85 per hour,
while those at the 25th percentile earned $11.85 per hour. Emulation effects can be assumed to occur among workers
who earn near (within a few dollars of) the minimum wage. Workers at the 15th percentile currently earn less than
four dollars more than the proposed new minimum wage level and can reasonably be expected to press for the
restoration of the original wage structure. It is assumed that emulation effects do not occur for workers earning
above the 15th percentile. For workers earning at or below the 15 th percentile, it is assumed that earnings increase in
2013 by $1.25 (the wage differential between $7.25 and $8.50) unless the worker is a tipped employee. In a world
5
6. Besides the direct cost of higher wages in an increased minimum wage scenario, there are
significant additional employer costs in the form additional payroll taxes that must be paid on
wage differentials. In general, an employer’s share of payroll taxes equals 7.65 percent of
employee wages and salary. Of this 7.65 percent, 6.2 percentage points are intended to help fund
old age, survivors, and disability insurance, and 1.45 percentage points go toward helping to pay
for Medicare hospital insurance. Employers in all three modeled scenarios can expect to pay
more in payroll taxes as a consequence of a minimum wage increase.
No Changes to Government Demand
Given that a mandated minimum wage has been in effect for decades, it is assumed that
government mechanisms to monitor compliance with the statute are established and well-
developed. An increase in the minimum wage therefore should not require the development of
new government mechanisms or materially increase government administrative costs. Therefore,
there are no projected increases in government demand resulting from the implementation of
S6413.
Additional Private Spending in the Economy
Consumers in an economy have two choices of what to do with their after-tax income. They can
either choose to spend it, thereby increasing consumption within the economy, or they can elect
to save it, and in doing so potentially increase investment in the economy. Government stimulus
programs frequently focus on transferring wealth to lower-earning individuals because of the
strong likelihood that these individuals will elect to spend the additional wealth in the short run,
producing a temporary consumption-fueled boost to the economy, rather than to save.
Consistent with expectations pertaining to increases in income for low-income workers, this
analysis assumes that new additional income received by minimum wage earners is spent (and
not saved), leading to a commensurate and immediate increase in consumption equal to the full
value of the cumulative wage boosts received. Seventy-five percent of this new spending is
assumed to occur in the retail trade industry. Twenty-five percent is assumed to occur in
services. This assumption will have a countervailing effect on any negative employment and
growth effects predicted by the model.
with two percent inflation, that worker would see his wage raised by $1.25 from 2012 to 2013, by $0.17 from 2013
to 2014, and so on according to the wage differential schedule imputed from the figures contained in Table 2.
6
The assumption that wage changes due to emulation effects occur simultaneously with the minimum wage increase
is supported by research suggesting that “any substantial emulation effects are not long delayed, which seems
plausible because increases in the minimum are [typically] well-advertised in advance.” See Gramlich, Edward M.,
“Impact of Minimum Wages on Other Wages, Employment, and Family Incomes,” Brookings Papers on Economic
Activity, The Brookings Institution, 1974, downloadable at:
http://www.brookings.edu/~/media/projects/bpea/1976%202/1976b_bpea_gramlich_flanagan_wachter.pdf.
6
7. Simulation Results
BSIM simulation results for the three modeled scenarios are provided below. All employment
figures are in unit form, while output figures are presented in billions of dollars. Job losses
forecast in year 2022 range from approximately 20,000 to 22,000. In all three scenarios, the
small business sector is projected to shoulder at least 70 percent of the job losses. Estimates of
the reduction in real output7 from its baseline in year 2022 range from approximately $2.2 billion
to $2.5 billion.
Simulation Results for a Minimum Wage Increase with a Zero Percent COLA Path
For the scenario of a minimum wage increase with no assumed future cost of living adjustments,
the BSIM forecasts that there will be 20,000 fewer jobs in 2022 due to the implementation of
S6413 (Table 4). Seventy percent of the jobs lost are jobs in the small business sector. In
addition, New York gross domestic product is forecast to be $2.2 billion less in 2022 compared
to the baseline scenario (in which no minimum wage increase takes place) (Table 5).
Table 4: Employment Difference from Baseline (Units), Zero Percent Cost of Living Increase Path
Percent
of Total
Firm Size 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 (2022)
1-4
Employees 1,609 926 262 -340 -857 -1,276 -1,579 -1,813 -1,989 -2,110 10.5%
5-9
Employees 1,440 857 291 -223 -667 -1,017 -1,271 -1,469 -1,611 -1,715 8.6%
10-19
Employees 1,462 818 191 -380 -868 -1,260 -1,540 -1,750 -1,907 -2,018 10.1%
20-99
Employees 2,728 1,353 21 -1,167 -2,176 -2,972 -3,535 -3,968 -4,279 -4,487 22.4%
100-499
Employees 1,395 311 -686 -1,558 -2,279 -2,827 -3,198 -3,476 -3,658 -3,771 18.8%
500 +
Employees 8,161 4,892 2,095 -247 -2,102 -3,492 -4,434 -5,134 -5,615 -5,927 29.6%
< 20
Employees 4,511 2,601 744 -943 -2,392 -3,553 -4,390 -5,032 -5,507 -5,843 29.2%
< 100
Employees 7,239 3,954 765 -2,110 -4,568 -6,525 -7,925 -9,000 -9,786 -10,330 51.6%
< 500
Employees 8,634 4,265 79 -3,668 -6,847 -9,352 -11,123 -12,476 -13,444 -14,101 70.4%
All Firms 16,795 9,157 2,174 -3,915 -8,949 -12,844 -15,557 -17,610 -19,059 -20,028 100.0%
7
The term “output” refers to the aggregate output of the New York economy (NY gross domestic product (GDP)).
GDP has three possible definitions: (1) the value of final goods and services produced in an economy during a given
period (as opposed to raw materials or intermediate goods which are produced or sourced earlier in the production
process), (2) the sum of value added during a given period, or (3) the sum of incomes in the economy during a given
period. It is a technical term whose significance may be better understood by the reader if she considers that because
of the first definition, output serves as a rough proxy for sales.
7
8. Table 5: Real Output Difference from Baseline ($Billions), Zero Percent Cost of Living Increase
Path
Percent of
Total
Firm Size 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 (2022)
1-4
Employees 0.152 0.071 -0.006 -0.074 -0.130 -0.175 -0.205 -0.228 -0.243 -0.252 11.5%
5-9
Employees 0.139 0.078 0.019 -0.035 -0.079 -0.114 -0.138 -0.156 -0.168 -0.175 8.0%
10-19
Employees 0.146 0.081 0.016 -0.042 -0.090 -0.128 -0.154 -0.173 -0.187 -0.195 8.9%
20-99
Employees 0.280 0.137 -0.002 -0.125 -0.227 -0.306 -0.359 -0.400 -0.427 -0.442 20.2%
100-499
Employees 0.158 0.040 -0.069 -0.164 -0.240 -0.297 -0.333 -0.359 -0.375 -0.383 17.5%
500 +
Employees 0.810 0.421 0.089 -0.186 -0.394 -0.543 -0.635 -0.698 -0.732 -0.745 34.0%
< 20
Employees 0.437 0.230 0.029 -0.151 -0.299 -0.417 -0.497 -0.557 -0.598 -0.622 28.4%
< 100
Employees 0.717 0.367 0.027 -0.276 -0.526 -0.723 -0.856 -0.957 -1.025 -1.064 48.5%
< 500
Employees 0.875 0.407 -0.042 -0.440 -0.766 -1.020 -1.189 -1.316 -1.400 -1.447 66.0%
All Firms 1.685 0.828 0.047 -0.626 -1.160 -1.563 -1.824 -2.014 -2.132 -2.192 100.0%
Simulation Results for a Minimum Wage Increase with a Two Percent COLA Path
For the scenario of a minimum wage increase with an assumed future cost of living adjustment
path of two percent annually, the BSIM forecasts that there will be 21,000 fewer jobs in 2022
due to the implementation of S6413 (Table 6). Seventy-one percent of the jobs lost are jobs in
the small business sector. In addition, New York gross domestic product is forecast to be $2.3
billion less in 2022 compared to the baseline scenario (in which no minimum wage increase
takes place) (Table 7).
Table 6: Employment Difference from Baseline (Units), Two Percent Cost of Living Increase Path
Percent
of Total
Firm Size 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 (2022)
1-4
Employees 1,609 958 312 -289 -813 -1,250 -1,577 -1,839 -2,046 -2,207 10.5%
5-9
Employees 1,440 885 336 -175 -621 -988 -1,261 -1,483 -1,655 -1,789 8.5%
10-19
Employees 1,462 847 235 -334 -831 -1,239 -1,540 -1,786 -1,975 -2,121 10.1%
20-99
Employees 2,728 1,404 99 -1,092 -2,126 -2,964 -3,585 -4,082 -4,466 -4,754 22.6%
100-499
Employees 1,395 337 -658 -1,543 -2,292 -2,883 -3,311 -3,641 -3,891 -4,070 19.4%
500 +
Employees 8,161 5,051 2,342 43 -1,827 -3,270 -4,275 -5,072 -5,660 -6,088 29.0%
< 20
Employees 4,511 2,690 883 -798 -2,265 -3,477 -4,378 -5,108 -5,676 -6,117 29.1%
< 100
Employees 7,239 4,094 982 -1,890 -4,391 -6,441 -7,963 -9,190 -10,142 -10,871 51.7%
< 500
Employees 8,634 4,431 324 -3,433 -6,683 -9,324 -11,274 -12,831 -14,033 -14,941 71.0%
All Firms 16,795 9,482 2,666 -3,390 -8,510 -12,594 -15,549 -17,903 -19,693 -21,029 100.0%
8
9. Table 7: Real Output Difference from Baseline ($Billions), Two Percent Cost of Living Increase
Path
Percent of
Total
Firm Size 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 (2022)
1-4
Employees 0.152 0.074 -0.001 -0.070 -0.128 -0.174 -0.208 -0.234 -0.254 -0.268 11.5%
5-9
Employees 0.139 0.081 0.023 -0.030 -0.075 -0.111 -0.137 -0.158 -0.173 -0.184 7.9%
10-19
Employees 0.146 0.084 0.021 -0.037 -0.086 -0.125 -0.154 -0.177 -0.193 -0.205 8.8%
20-99
Employees 0.280 0.142 0.006 -0.117 -0.222 -0.304 -0.364 -0.411 -0.445 -0.469 20.2%
100-499
Employees 0.158 0.042 -0.066 -0.162 -0.241 -0.302 -0.345 -0.377 -0.400 -0.415 17.9%
500 +
Employees 0.810 0.437 0.113 -0.158 -0.371 -0.529 -0.630 -0.706 -0.755 -0.783 33.7%
< 20
Employees 0.437 0.239 0.043 -0.137 -0.289 -0.410 -0.499 -0.569 -0.620 -0.657 28.3%
< 100
Employees 0.717 0.381 0.049 -0.254 -0.511 -0.714 -0.863 -0.980 -1.065 -1.126 48.5%
< 500
Employees 0.875 0.423 -0.017 -0.416 -0.752 -1.016 -1.208 -1.357 -1.465 -1.541 66.3%
All Firms 1.685 0.860 0.096 -0.574 -1.123 -1.545 -1.838 -2.063 -2.220 -2.324 100.0%
Simulation Results for a Minimum Wage Increase with a Four Percent COLA Path
For the scenario of a minimum wage increase with an assumed future cost of living adjustment
path of four percent annually, the BSIM forecasts that there will be nearly 22,000 fewer jobs in
2022 due to the implementation of S6413 (Table 8). Seventy-two percent of the jobs lost are
jobs in the small business sector. In addition, New York gross domestic product is forecast to be
$2.5 billion less in 2022 compared to the baseline scenario (in which no minimum wage increase
takes place) (Table 9).
Table 8: Employment Difference from Baseline (Units), Four Percent Cost of Living Increase Path
Percent
of Total
Firm Size 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 (2022)
1-4
Employees 1,609 989 361 -232 -764 -1,214 -1,561 -1,855 -2,098 -2,296 10.5%
5-9
Employees 1,440 913 380 -123 -576 -954 -1,245 -1,487 -1,688 -1,853 8.4%
10-19
Employees 1,462 876 280 -284 -788 -1,210 -1,534 -1,811 -2,034 -2,216 10.1%
20-99
Employees 2,728 1,457 181 -1,013 -2,063 -2,944 -3,618 -4,183 -4,644 -5,018 22.8%
100-499
Employees 1,395 361 -624 -1,519 -2,298 -2,938 -3,417 -3,815 -4,132 -4,388 20.0%
500 +
Employees 8,161 5,206 2,595 341 -1,528 -3,003 -4,075 -4,950 -5,643 -6,190 28.2%
< 20
Employees 4,511 2,778 1,021 -639 -2,128 -3,378 -4,340 -5,153 -5,820 -6,365 29.0%
< 100
Employees 7,239 4,235 1,202 -1,652 -4,191 -6,322 -7,958 -9,336 -10,464 -11,383 51.8%
< 500
Employees 8,634 4,596 578 -3,171 -6,489 -9,260 -11,375 -13,151 -14,596 -15,771 71.8%
All Firms 16,795 9,802 3,173 -2,830 -8,017 -12,263 -15,450 -18,101 -20,239 -21,961 100.0%
9
11. Small Business Share of Job Losses in
Year 2022
100%
90%
80%
70.4% 71.0% 71.8%
70%
60%
50%
40%
30%
20%
10%
0%
0% COLA Path 2% COLA Path 4% COLA Path
Figure 1
Small Business Share of Lost Production
in Year 2022
100%
90%
80%
70% 66.0% 66.3% 66.7%
60%
50%
40%
30%
20%
10%
0%
0% COLA Path 2% COLA Path 4% COLA Path
Figure 2
11