The U.S. Department of Labor announced this morning that the jobless rate has dropped below 8 % for the first time in almost four years. The number of people reporting they’re employed has jumped by 873,000 in the month of September. The percentage of unemployed dropped from 8.1% to a 44-month low.
This weekend, Governor Jerry Brown signed the California Secure Choice Retirement Savings Program (SCRSP). The new law, SB 1234, establishes a VOLUNTARY pension program for California workers to assist them in supplementing their Social Security benefits which are arguably insufficient to support the financial needs of Californians once they retire.
The National Association of Secretaries of State voted in the summerto officially declare September 25 National Voter Registration Day. Over 1,000 organizations have come together to set up an unprecedented online and offline effort on September 25th to do for voter registration what Earth Day did for environmental activism with National Voter Registration Day.
It isn’t surprising to me that the Business Council would choose a red herring argument to oppose legislation the would help keep millions of future private sector retirees out of poverty. They raise the argument of budget deficits and claim that liability for retirement benefits will fall on the California taxpayers. It won’t.