News & Events

The Weekly Wrap - March 11, 2022

With the war still raging in Ukraine, more heat added to already sizzling inflation, the Federal Reserve poised to hike interest rates and U.S. stocks in correction territory, about the only bit of good news this week was that the baseball strike ended, promising fans a full 162-game season. Of note is that the minimum annual wage for baseball players was raised from $570 thousand to $700 thousand immediately, a 23 percent boost that far exceeds inflation. Unfortunately, that distinction does not extend to most armchair buffs that eagerly follow the sport. If there’s any consolation, the pact provides for an increase to $780 thousand over the next three years, a boost that comes to less than 4 percent a year, which can be readily matched by workers in today’s tight labor market.