San Francisco-based Gap Inc. announced on Wednesday that they’re raising minimum wage for its lowest-paid workers in the U.S. Workers will receive at least $9 this year and that increase will go to $10 in 2015.
The report comes as Supervisor Eric Mar has proposed an ordinance that would expand formula retail controls in San Francisco.
Although it was a banner year for many Silicon Valley companies in 2013, a business leader said the region needs help from the federal government to continue the trend in 2104.
Unemployment rates continued to drop in California and in the Bay Area in November, according to state jobs data released Friday.
Sellers across California have been holding the door open, hoping to cash in on double digit increases in home prices, and a surplus of buyers motivated by low interest rates. But, the stalemate in Washington is stalling home sales in the Bay Area.
California’s unemployment rate fell to 8.6 percent in May, marking the first time in nearly five years the jobless rate has dipped below 9 percent.
In Santa Clara, the demand for hotel rooms is leading the surge in new construction projects and is another sign the Bay Area economy is booming.
The state’s independent budget analyst says California will take in $3.2 billion more than Gov. Jerry Brown estimated, providing Democratic lawmakers the opportunity to increase spending.
The state’s Employment Development Department reported Friday that California’s jobless rate is at its lowest point since November 2008, nearly a year after the recession began.
Nevada’s rate, while tied with California and Mississippi for the highest among states at 9.6 percent, was down from 11.8 percent a year ago.