Pexels Stock Image.ALBANY – The minimum wage in Upstate New York’s will increase to $12.50 an hour on December 31.The State’s Department of Labor announced on Wednesday the raise is part of the minimum wage phase in taking place across the state.The phase in was announced after a report by the Division of the Budget found the Upstate’s labor market is amongst those leading New York’s economic recovery from the downturn caused by the global pandemic.Other findings in the report include: Just prior to the pandemic, the State achieved a record low unemployment rate of 3.7% while raising the minimum wage for four years.The Long Island/Westchester county regional unemployment rate has fallen from its April peak of 15.9 percent to 7.1 percent in October, while the remainder of Upstate has fallen from its 15.4 percent April peak to 6.8 percent in October.According the December edition of the Federal Reserve Beige Book, as employment rebounds Upstate, an employment agency observed: “scattered signs of a pickup in hiring, especially for lower-wage workers” and “particular difficulty in recruiting customer-service representatives.” The agency also noted “a particular upward trend in wages at the lower end of the pay scale.”The report concludes: close examination of the available economic data by region suggests that the labor market recoveries on Long Island and in Westchester and the remainder of Upstate are proceeding apace and are not likely to be substantially harmed by the minimum wage increases scheduled for the end of this yearThe minimum wage in New York City is set to increase to $15 an hour for companies with 10 or fewer employees. Companies with more than 10 employees have had to pay $15 an hour since the end of 2018.Long Island & Westchester’s minimum wage will increase to $14 an hour, and is scheduled to increase to $15 an hour on December 31, 2021.No further increases for the rest of New York State are currently scheduled. Future increases will be based on an indexed schedule to be set by the Director of the Division of the Budget in consultation with the Department of Labor following an annual review of the impact.Last week some lawmakers, including local Senator George Borrello, called on the Governor to hold off on rising the state’s minimum wage in an effort to help businesses already struggling due to COVID-19. Share:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to email this to a friend (Opens in new window)
Statewide student winners of a financial literacy poster contest will be recognized by State Treasurer Jeb Spaulding and Governor Jim Douglas on April 9, 2009, 11:30 a.m., State House, Montpelier, Cedar Creek Room. The theme of the national contest, sponsored by the National Foundation for Credit Counseling, was I m going to be a millionaire because I ¦ The student winners and their parents will be at the State House event. Student winners will be announced in three grade divisions elementary, middle school, and high school. The student winners are from schools in Reading, South Ryegate and Williston. Legislators and State House visitors may view a display of student posters from 10 a.m. to 12:30 p.m. that day. State winners receive a $100 savings bond and their schools a $100 cash award. The contest was sponsored in Vermont by the Office of the State Treasurer, Consumer Credit Counseling Service of New Hampshire and Vermont, and the Vermont Bankers Association. The brief ceremony will conclude by noon. As part of recognizing the student winners, a proclamation officially designating April as Financial Literacy for Youth Month will be announced. The Vermont Jump$tart Coalition also will be present and will have a display showcasing their work around the state.
21SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr When the world was first introduced to Snapchat in 2011, many people dismissed it as a fad. Five years later, the app now boasts over 100 million daily users, making it clear that it’s here to stay. For those still not up to speed, Snapchat is a video and photo messaging app that allows users to send “Snaps” that are only viewable between one and 10 seconds. After time is up, the Snaps are deleted forever. Despite its massive success, many industries — including credit unions — are struggling to integrate it into their marketing strategy. Here are four reasons why your credit union should start snapping.Small Cost and Big ReachSnapchat is free to download and is available for both iPhone and Android. After downloading the app, you’ll be joining a community that sends 9,000 Snaps every second and each person spends an average of 25-30 minutes per day on the app. If that doesn’t sound like great potential for reach, we don’t know what is.User CreativitySnapchat isn’t your normal photo app. Besides being able to take a simple selfie, users have numerous options to customize their Snaps, which means that the sky is the limit in terms of creativity. You can draw doodles on your photos and videos with your finger. You can apply a filter that speeds up or slows down your video. You can switch things up with the popular (and slightly terrifying) face swap feature. These creative features, among others, are a great way for credit unions to show off their fun side and humanize their brand. continue reading »