April 15, 2013 |
ATHENS - International debt inspectors gave conditional approval Monday to an additional $13 billion in rescue aid for the beleaguered Greek government, but insisted that it cut thousands of civil service jobs as part of an effort to slash spending on the country's costly public sector. Lenders from Europe and the International Monetary Fund have pressed successive Greek governments to carry out mass layoffs since Athens signed up for its first bailout, worth $150 billion, three years ago. Despite widespread opposition, Greece's three-party coalition agreed to the plan over the weekend, acceding to the tough terms of a new multibillion-dollar bailout hammered out in December.
April 15, 2013 |
ATHENS - With a critical monitoring mission completed, international debt inspectors gave Greece the nod Monday for an additional $13 billion in rescue aid but insisted that it had to ax thousands of civil servants as part of efforts to slash the country's bloated - and costly - public sector. Lenders from Europe and the International Monetary Fund have pressed successive Greek governments to implement mass layoffs since Athens signed up for its first bailout, worth $150 billion, three years ago. Despite widespread opposition, Greece's three-party coalition agreed to the plan over the weekend, bowing to the tough new terms contained in a new multibillion-dollar bailout hammered out in December.
CALIFORNIA | LOCAL
March 27, 2013 |
Los Angeles union leaders had hoped the presence of two liberal Democrats in the race for mayor would produce a robust defense of the value of government, government employees and the positive effects public sector pay and benefits have on the broader economy. The realities of campaigning have largely precluded that, particularly in a city contending with persistent budget shortfalls and private-sector workers facing stagnant incomes, tax and fee increases, and a slow erosion of good-wage jobs.
January 9, 2013 |
The private sector is slowly climbing its back way from the Great Recession, adding 155,000 jobs in December, but the public sector is continuing its long employment slide, making it the worst few years for government employees in recent memory. That's a conclusion from a new report by the Nelson A. Rockefeller Institute of Government at the University of Albany, which calculates that while private-sector employment is down 3.1% from its peak in January 2008 and on the rebound, state and local government employment is down 3.4% from its peak in August 2008 and continuing to slide.
November 17, 2012 |
California's labor market showed renewed strength in October as employers posted stronger-than-expected job gains, adding 45,800 workers to payrolls ahead of the holiday shopping season. With retail trade and transportation leading last month's hiring surge, the jobless rate ticked down to 10.1% in October from 10.2% the month before, according to data from the state's Employment Development Department. Quiz: The week in business The state also revised September job gains upward to 32,000 from the previously reported figure of 8,500 net new jobs.
October 6, 2012 |
ATHENS - With a new batch of budget cuts looming, Greek officials have made it clear that they must target the state's nearly 1-million-strong army of civil servants, shaving salaries, benefits and bonuses for the third time in three years. "We're doomed," says social worker Dmitra, 44, who asked that her last name not be printed for fear of reprisals. "Whoever said we were privileged and protected?" And yet, many Greeks emphatically contend that government workers are protected.