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More trouble ahead for State employees

RELEASE: CRI - Center for Economic Policy and Analysis RE: More trouble ahead for State employees DATE:  6/7/19   According to the Boomershine Consulting Group the long bull market has failed to fix public pensions. The simple truth is that the sums owed to retirees are accelerating faster than assets on hand to pay those future obligations. Liabilities of major U.S. public pensions are up 64% since 2007 while assets are up 30%.   Return on pension fund assets were slowed by the "dot.com" bust in 2001 and went South following the 2007-08 recession. Meanwhile, due to the accelerating retirement of the Baby-boomers and longer lifespans, the pool of p ...
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Raising the Delaware Minimum Wage

RELEASE: CRI - Center for Economic Policy and Analysis RE: Raising the Delaware Minimum Wage DATE:  6/14/19  (image source:  timeequipment.com)   Senate Bill 105 is under review by the Delaware Senate Finance Committee. It would raise the State’s minimum wage from the mandated $9.25 per hour (as of October 1, 2019) to $11.00 per hour as of January 1, 2020. The minimum wage would then increase $1 per year until 2024, and thereafter be subject to a cost of living adjustment.   What does the economics research literature say?    Historically, the research literature demonstrates that a legislative increase in the minimum wage...[read more]

Letter to the Editor: Delaware's economy...

Dear Editor:   Contrary to the rhetoric coming out of Dover, Delaware’s economy is doing poorly. And the political establishment has little stomach for meaningful change.   THE ECONOMY’S PERFORMANCE   EMPLOYMENT: The current annual growth rate of private employment in Delaware is 0.6%, about half the nation’s rate. And 0.6% is the jobs growth rate projected by the Delaware Department of Labor through 2026 and 0.2% is the jobs growth rate projected by the Delaware Population Consortium. The bulk of the jobs being added in Delaware are in industries with lower wages and limited benefits, including restaurants, temporary help, janitorial serv...[read more]

Eliminate the Health care CON in Delaware

RELEASE: CRI - Center for Economic Policy and Analysis   RE: Eliminate the health care CON in Delaware   DATE:  5/16/19     In 1974, Congress passed the National Health Planning and Resources Development Act, which made certain Federal funding conditional upon states implementation of Certificate of Need (CON) laws. These laws require those who wish to open new healthcare facilities, expand existing facilities, or even purchase new equipment to obtain state regulator permission.   The Delaware Health Resources Board, part of the Delaware Health Care Commission, has responsibility for the CON public review process in the First State. ...[read more]

Jobs and Opportunity in Delaware

RELEASE: CRI - Center for Economic Policy and Analysis   RE: Jobs and Opportunity in Delaware   DATE:  5/14/19   The Rhode Island Center for Freedom and Prosperity publishes a Jobs and Opportunity Index (JOI) for all the states monthly. As of March of this year, Delaware ranks 50th among the states.   Three factors comprise the JOI:  job outlook, freedom, and prosperity. To identify the reason for Delaware’s last place ranking on the JOI, each factor needs to be examined.   JOB OUTLOOK:  This is a measure of optimism as to work opportunities in the current market. It is an indicator that people are either working o...[read more]

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