Gina Deluca says she was shocked when she moved to New Mexico from California and discovered that her hourly wage as a waitress fell to a federal minimum of $2.13. Her old state required at least $6.75 for all workers at the time.
Paul Laney landed a job two months ago as a home inspector in Woodstock, Georgia, as the city added staff to oversee a growing residential construction industry. “I am really ecstatic about it,” said Laney, 52, who closed his own contracting business in 2007.
President Barack Obama sent a $3.8 trillion budget to Congress today calling for more tax revenue and slower growth for Social Security benefits in a political gamble intended to revive deficit-reduction talks.
President Barack Obama discussed ways to bolster business confidence and economic growth during a White House meeting with heads of the world’s biggest banks, including Goldman Sachs Group Inc.’s Lloyd C. Blankfein and JPMorgan Chase & Co.’s Jamie Dimon.
Federal Reserve Chairman Ben S. Bernanke probably will be succeeded by Vice Chairman Janet Yellen when his term ends Jan. 31, according to a survey last week by International Strategy & Investment Group.