NJ Business Matters has updated developments around the proposed legislation to mandate paid leave, noting Senate President Codey wants a special voting session on the bill by April.
And new unemployment figures show another 1,700 jobs lost in February, including trade, transportation and utilities (-2,800), manufacturing (-1,100), and construction (-500).
In an earlier post, NJ Business Matter also posts a memo on the paid family leave bill from Assembly Republican Leader Alex DeCroce. A good point-by-point primer on the anti-business, anti-jobs nature of the billl. Key facts:
According to an article in the Wall Street Journal on June 20, 2007, the federal Department of Labor estimates that paid family leave programs cost employers an average of $1.76 per hour per full time employee, or 6.8% of total compensation. Using the above hourly estimate, a company with just ten full-time employees would see an increase of approximately $36,608.
What a terrible idea.
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