Commercial loan delinquencies (late loans and defaults) are less than half of what they were during the last recession; now lower than pre-recession levels of (1.5%).
f
Source: St. Louis Fed, FRED, Data series DRBLACBS
Differences between W2 and last paycheck
Generally, W-2 statements reflects taxable earnings while the check stubs and last pay statements reflect total earnings.
To convert from total earnings to taxable earnings, you need to subtract the nontaxable deductions, including parking deductions, FSA deductions (medical and dental deductions, flexible spending account deductions, and dependent care deductions) and retirement deductions (403(b), 457). These deductions are typically itemized in boxes 12, 13, and 14 of the W-2.
U.S. treasury rates drop a little; remain significantly higher than last week.
1 month T-bill still over twice the rate as a week ago.
| Date | 1 Mo | 3 Mo | 6 Mo | 1 Yr | 2 Yr | 3 Yr | 5 Yr | 7 Yr | 10 Yr | 20 Yr | 30 Yr |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 10/01/13 | 0.10 | 0.02 | 0.04 | 0.10 | 0.33 | 0.66 | 1.42 | 2.04 | 2.66 | 3.43 | 3.72 |
| 10/02/13 | 0.08 | 0.02 | 0.05 | 0.11 | 0.31 | 0.62 | 1.38 | 2.01 | 2.63 | 3.41 | 3.70 |
| 10/03/13 | 0.12 | 0.03 | 0.05 | 0.11 | 0.33 | 0.61 | 1.36 | 1.99 | 2.62 | 3.40 | 3.71 |
| 10/04/13 | 0.11 | 0.03 | 0.04 | 0.11 | 0.33 | 0.66 | 1.41 | 2.05 | 2.66 | 3.43 | 3.73 |
| 10/07/13 | 0.13 | 0.03 | 0.06 | 0.12 | 0.37 | 0.66 | 1.41 | 2.03 | 2.65 | 3.41 | 3.70 |
| 10/08/13 | 0.27 | 0.05 | 0.09 | 0.15 | 0.40 | 0.70 | 1.43 | 2.05 | 2.66 | 3.41 | 3.70 |
| 10/09/13 | 0.26 | 0.05 | 0.08 | 0.15 | 0.37 | 0.68 | 1.43 | 2.06 | 2.68 | 3.43 | 3.73 |
Women in Philosophy
Wages and Philosophy Ph.Ds awarded to women:
http://www.apaonlinecsw.org/data-on-women-in-philosophy
U.S. Treasury rates double overnight on 1 month bill: Notes on Treasury rates from Oct.8, 2013
Really short (1 month) term T-bill rates double overnight. Rates increase 14 basis points to 0.27% for a 1 month t-bill. The increase in yield reflects lower demand (Bond prices and interest rates are inversely related.). See the article cite below for more details on the Treasury market movements.
Read more from Bloomberg:
Employee tip pooling in NJ
Baremboim v. Starbucks Corporation, 2013 NY Slip Op 04754 (June 26, 2013)
Discusses when pooling of tips by service employees is appropriate.
Shorter term U.S. Tres. rates up from last week
Shorter term(<3 years) U.S. treasury securities up a few basis points from last week. Longer term securities down a few basis points from last week.
Longer term U.S. rates higher than last year:
SHRM discusses two interesting Calif. wage and hour cases
SHRM:
Leyva v. Medline Industries Inc., 9th Cir., No. 11-56849 (May 28, 2013), Individualized damages http://www.shrm.org/LegalIssues/FederalResources/Pages/Individualized-Damages-No-Obstacle-Class-Action.aspxno obstacle to wage and hour class action
Urbino v. Orkin Servs. of Calif. Inc., 9th Cir., No. 11-56944 (Aug. 13, 2013), PAGA claims cannot be aggregated for removal to federal court
Manufacturing returns to U.S. – shortage of workers
Some employers in some industries such as textiles are finding increasing wages in China, shipping, and other costs are making it cost efficient to manufacture again in the U.S. Many of the same employers are finding a shortage of workers.
http://www.nytimes.com/2013/09/20/business/us-textile-factories-return.html?pagewanted=all
Job openings and employment up in Sept.
The Conference Board reported that online job demand was up 209k while ADP reported that private sector employment increased 166k in Sept. 2013. Both are sizable increases that point to current and future employment growth.