Category Archives: Salaries

5 Quick Dos and Don’ts of Salary Transparency

Over the last several decades, people have contacted staff of the American Library Association (ALA) asking that they demand and require libraries to post salary ranges in job ads. Of course, ALA staff does not possess the kind of power that would allow them to force all libraries to list salary ranges. However, the desire to see salary information in job ads has not gone away. It’s clear that job candidates and current employees want pay transparency. According to a Read the rest

Equal Pay Day

This year, Equal Pay Day is Tuesday, March 14, 2023. This date symbolizes how far into the year women must work to earn what men earned in the previous year. Equal Pay Day was first originated by the National Committee on Pay Equity (NCPE) in 1996 as a public awareness event to illustrate the gap between men’s and women’s wages. Because women earn less, on average, than men, they must work longer into the next year for the same amount Read the rest

Retirement Legislation Passes the House, the Senate and Signed by President Biden

In December 2022, Congress finally pushed through its $1.7 trillion spending bill which was signed by President Biden. Among a variety of other measures, the bill included retirement legislation known as Secure 2.0. The SECURE (Setting Every Community Up for Retirement Enhancement) Act was signed into law in 2019. The updated version SECURE 2.0 Act of 2022 adds more than 90 new provisions to retirement planning. Many say the changes will make saving for retirement easier and encourage millions Read the rest

Minimum Wage Increases Across Most of the Country

The start of a new year often brings increases to minimum wages for workers across the nation. According to the Economic Policy Institute, more than 8 million people will be getting raises this year. Twenty-three states and the District of Columbia are raising their minimum wage in 2023. These states will see minimum wage hikes ranging from $0.23 to $1.50 an hour. States that increased at the beginning of the year include Arizona, California, Colorado, Connecticut, Delaware, Illinois, Maine, Read the rest

High Inflation Impacting Employees

I’m sure many of us are tired of hearing about the high inflation rate in the U.S. More importantly, you are probably tired of feeling the effects of high inflation. Not only does high inflation mean workers’ take-home pay is shrinking, but the value of the dollars in their 401(k)s and similar retirement plans won’t go as far as they might have hoped. In addition to being worried about having enough money to cover basic expenses for items such as Read the rest

Will Inflation Impact Annual Pay Raises?

Did you receive a pay raise last year? If so, how much was it —1%, 2%, 5%? Chances are if you received an increase in pay last year, it was not enough to keep pace with the current inflation rate. The annual U.S. inflation rate hit 9.1 percent in June, a new 41-year high, according to the U.S. Department of Labor. And Americans are feeling the pinch. The price of most consumer goods (i.e., food, clothing, housing, utilities, transportation, Read the rest

Baby Boomers Spending Retirement Savings Fast

You don’t have to listen to the news to know that the prices of nearly everything have increased. If you bought groceries, gas, or any other necessity, you felt the pinch in your bank account. But if you read or listen to the news, you have undoubtedly heard that inflation rose to 9.1% last month, reaching its highest point in 41 years. Higher prices have caused some to dip into savings (assuming you had funds set aside for long-term purposes) Read the rest

The Student Loan Pause Extended

Earlier this month, the U.S. Department of Education (Department) announced an extension of the pause on student loan repayment, interest, and collections through August 31, 2022. The extension will provide additional time for borrowers to plan for the resumption of payments, reducing the risk of delinquency and defaults after the restart. During the extension, the Department will continue to assess the financial impacts of the pandemic on student loan borrowers and prepare to transition borrowers smoothly back into repayment. This Read the rest

Mississippi Passed an Equal Pay Bill; Advocates Worried

The Equal Pay Act of 1963 is a U.S. law that prohibits employers from paying different wages to men and women who work under similar conditions and whose jobs require the same level of skill, effort, and responsibility. The jobs do not have to be identical, but they must be substantially equal. Job content (not job titles) determines whether jobs are substantially equal. Mississippi is the last state in the nation to not have either an equal pay law or Read the rest

Equal Pay Day

By Sian Brannon

“Equal Pay Day” is a date noted each year that symbolizes the time during the year when women will have finally earned the same as white men from the previous year. Typically in spring, it takes approximately 15 months for a (white) woman to earn as much as a white man earned in 12 months. The first Equal Pay Day was recognized by the National Pay Inequity Awareness Day proclamation by President Bill Clinton on April 11, Read the rest