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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: maceng2 who wrote (73444)5/11/2010 3:15:36 AM
From: Haim R. Branisteanu2 Recommendations  Read Replies (1) of 74559
 
Who needs Greece - WE have New York State 1.6 billion in GDP

Albany lawmakers vote to furlough state workers - New York's Legislature has approved unprecedented unpaid leaves for state workers in an emergency spending bill to contend with the state's fiscal crisis.

State workers rally against Gov. David Paterson's furlough plan outside the Capitol in Albany, N.Y., on Monday,

(AP) - New York's Legislature has approved unprecedented furloughs for state workers to contend with the state's fiscal crisis.

Democratic Gov. David Paterson forced the vote on an emergency spending bill that includes the 1-day-a-week furloughs for about 100,000 state workers, meant to save $30 million a week.

The Senate and Assembly majorities oppose furloughs and called the action illegal, but they had to vote for them because the furloughs couldn't be separated from the spending bill. Rejecting the measure would have shut down state government.

The workers' unions have so far refused requests by the Paterson administration for lag pay and for suspending their raises for a year to - as Paterson puts it - share in the sacrifice of all New Yorkers in the recession.

For state workers making an average salary of $64,164 a year, a furlough would cost about $267 a week, which they wouldn't get back under Mr. Paterson's plan. The unions had previously rejected a request to temporarily delay their annual 4% raise, worth about $53 a week for the average worker.

crainsnewyork.com
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