The greater share taken from Minnesotans’ paychecks by rising consumer costs is being seen in several ways — including the opportunity for corporate profit.
A new report from the Groundwork Collaborative said companies are taking advantage of the pandemic to drive up the costs of products such as prescription drugs, groceries and diapers. The authors pointed to corporate earnings calls in which some CEOs openly brag about their price hikes.
Shirwa Adan, Executive Director of Central Minnesota Community Empowerment Organizationwhich helps immigrants with needs such as placement, said it was clear these people were feeling the pressure.
“It’s something that the community feels and those low-income families, maybe using government assistance, what you see is all they’ll get, it stays the same,” a- he said, “but prices have doubled across the board.”
He also said he saw local residents scrambling to find better-paying jobs to offset price hikes. The report compiled information that details near-record profits for the companies. And the US Department of Commerce noted that those margins are at their highest level in 70 years.
Business leaders have argued that the spikes are largely fueled by supply chain issues and labor shortages, but the Groundwork Collaborative has suggested those arguments are a decades-long shield for businesses monopolizing certain industries, creating less competition and exacerbating the supply problems seen today.
Coleen Bui, owner of Shear Reflections, a hair salon in Worthington, said products are harder to buy, those she can locate are more expensive, and her stylists have seen changes in the customer activity.
“People stretch their dates in between,” she said. “It makes a difference on what the girls take.”
Shannon Berns, who founded Du Nord, a Minnesota-based small business consulting firm, said customers are still in “recovery mode” from the pandemic and are now passing on price increases for their products to customers. She said some were frowning about the extra vendor costs.
“It’s hard for them to understand why my prices went up 50% last month,” she said, “and now you’re raising them again, that much or more.”
The Minnesota attorney general called on state lawmakers to move forward legislation on the matter, including updates to anti-competitive statutes. But the report says a broader crackdown is needed, along with more investment in supply chain infrastructure, to make a difference.
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Changes to a federal loan forgiveness program erase public employee debt, but people have a limited window to consolidate their debt under the revised program.
the Civil Service Loan Cancellation Program cancels public servants’ student debt after making 10 years of payments, and was simplified by the Biden administration last year.
Jordyn Rogers, associate director of the Great Falls-based nonprofit Rural Dynamics, said the people they’ve helped qualify for the program have expressed their gratitude.
“Just an incredible relief to have a source of debt paid off,” Rogers observed. “In some cases, people can then use this extra income to buy a home for the first time or consider a career in the private sector.”
The Biden administration’s waiver makes certain loan programs and repayment plans that were not eligible for the rebate eligible for the program. Borrowers must apply by October 31. The US Department of Education estimates the change will help about 550,000 Americans.
Since the program eliminates student debt after 120 monthly payments, Rogers stressed that people should keep proof that they made their payments.
“That’s probably one of the most important things we tell our consumers is to track how many payments you make on your end,” Rogers pointed out. “If there is a question of eligibility, you can come back with proof and show that you made that payment.”
Rogers added that one of the main reasons people are turned away is because they don’t work for a qualified employer. She encouraged people to use the services of the Department of Education PSLF Helper Tool to see if they qualify.
Disclosure: Rural Dynamics, Inc. contributes to our fund for reporting on consumer issues, disabilities, philanthropy, and poverty issues. If you would like to help support news in the public interest, click here.
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As the economy continues to soar in Texas, more and more people are moving to the state to find better job opportunities. If the job numbers are any indication, they’re coming to the right place.
This year, civil servants accounted for more than 700,000 available jobs, and an unemployment rate of 4.7%. Angela Woellner, press officer for the Texas Labor Commissionsaid that even before the pandemic, the state had reached a record number of employed people.
“Texas is booming,” she said, “and there really are opportunities for everyone.”
The state ended its extended unemployment benefits last September when the US Department of Labor informed the commission that the state’s unemployment rate had fallen below the level needed to continue paying those benefits.
One of the reasons that the number of unemployed continues to fall is that employers have expanded the use of teleworkcreating jobs for private sector, government and non-agricultural workers.
Woellner said the two main industries that still need workers are health care and information technology. She said the commission had recently invested $15 million to create programs such as an apprenticeship for nurses.
“We look at, for example, the Hospital Corporation of America, over 6,000 job openings; followed just behind United Health, Houston Methodist – both have thousands of job openings,” she said . “So we know that’s the one that’s really getting a lot of attention.”
The commission is also focusing on closing “skills gaps” for potential workers, including veterans and recently incarcerated people, to help fill vacancies.
Woellner said child care remains a big issue keeping people from returning to work, so $2.4 billion has been allocated to child care providers. She said providers across the state can apply for funding to expand their services.
“The vast majority of this funding comes from federal stimulus,” she said, “COVID-related funding that is aimed at increasing both the size and quality of child care across the country. Texas”.
In the Current population survey, the age groups with the lowest employment rates are 16-19 and 65+. The remaining age groups all have employment rates around 60%.
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The Kentucky Public Service Commission is evaluating the state’s two largest utilities’ long-term plans for energy investment, infrastructure, and supply and demand.
Friday is the deadline for submitting public comments on Louisville Gas & Electric and Kentucky Utilities Integrated Resource Plan. The plan calls for relying on fossil fuels for almost 80% of electricity supply until 2036.
Director of Apogee, Climate & Energy Transitions Andy McDonald said he thinks it’s risky for Kentucky taxpayers to continue to rely so heavily on coal and natural gas.
He said utilities should invest in mitigating carbon emissions by switching to renewable energy sources. He called the IRP “a check and balance” on energy suppliers.
“And so without the IRP process, without the Public Service Commission, the public service would operate like any other corporation,” McDonald said. “They would seek to maximize their profits. And their customers have no other electricity providers.”
Kentuckians can submit comments no later than Friday through the Kentuckians for Energy Democracy websiteor directly to the Public Service Commission at ‘[email protected]’
Cathy Hinko is the former executive director of the Metropolitan Housing Coalition in Louisville. She said residents should check to make sure they include all the necessary information in their email to the PSC.
“So you need the case number, your name and your address,” Hinko said. “And you have to do it by April 15. And then it’s part of the IRP case file.”
Chris Woolery — residential energy coordinator with the Mountain Association — said Kentucky lacks transparency and utility tracking on things like charges, disconnects and reconnect fees, and which zip codes are the more affected.
“A lot of times the response from companies is ‘we don’t know, we don’t look at census-level data, we haven’t studied that question,'” Woolery said. “And so we need mechanisms that require certain things to be submitted.”
Woolery said the state is still grappling with the effects of the pandemic, so many people still owe utilities money. An Associated Press analysis released last month revealed that Kentucky is one of a handful of states that charge customers late fees much higher than the national average.
Disclosure: Mountain Association contributes to our fund for reporting on community issues and volunteerism, environment, philanthropy, rural/farm. If you would like to help support news in the public interest, click here.
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