Family Caregiving Worth $470 Billion a Year, AARP Finds

The economic value of the nation’s family caregivers’ unpaid work is an estimated $470 billion a year — an amount about equal to the annual sales of Wal-Mart, the world’s largest company. That’s the top finding from the AARP Public Policy Institute’s new report, “Valuing the Invaluable: 2015 Update.” The survey found that an estimated 40 million U.S. caregivers devote about 37 billion hours to assisting adult relatives or close friends. Get the support you need to care — AARP Caregiving Resource Center » …

University President Takes Salary Cut to Help Minimum-Wage Workers

Raymond Burse believes in spreading the wealth. The interim president of Kentucky State University is giving up more than $90,000 of his annual salary to boost pay for the school’s minimum-wage employees. “This is not a publicity stunt,” Burse told the Lexington Herald-Leader. “You don’t give up $90,000 for publicity. I did this for the people. This is something I’ve been thinking about from the very beginning.” Thanks to Burse’s generosity, lower-paid workers will immediately see more money in their …

Firing of Times Editor Fuels Equal-Pay Debate

The abrupt firing this week of Jill Abramson, the first female executive editor of the New York Times, once again puts a spotlight on unequal pay between men and women doing similar jobs, as details continue to leak. The New Yorker‘s Ken Auletta provided some Times salary numbers. When Abramson became executive editor in 2011, her salary was $475,000, or $84,000 less than her male predecessor’s pay that year, Auletta reports.  Also, during the three years she served as Washington bureau chief, she made $100,000 …

Workers’ Pay Raise Next Year: 3 Percent

Salaried workers can expect a slightly fatter paycheck next year, but the salary bump you get may be considerably different from what your colleague in the next cubicle takes home. Overall, workers’ base pay in most industries is expected to climb an average of 3 percent in 2014. While that may seem relatively modest, it’s actually the biggest wage hike that employers have given out since 2008, according to a report by business consultant Aon Hewitt, which surveyed 1,147 U.S. …