B2B Stories

Americans drawing money from Social Security received some good news for 2023 with a cost-of-living adjustment (COLA) designed to keep up with inflation. The Social Security Administration (SAA) announced last month that it would implement an increase in benefits of 8.7 percent. The new rate will go into effect in January. For many recipients, this will amount to a monthly addition of $140-150. The SAA distributes funds to retired senior citizens, as well as to those who are disabled and to widows, widowers, and children of deceased workers. The 8.7

Employment in the Augusta Metropolitan Statistical Area inched up by 200 jobs in September to stand at 244,400, but employment locally remains below pre-pandemic levels. With little change in total employment, it is not surprising that there was little change in employment in many industries. Industries seeing a decline in employment include leisure and hospitality with a decline of 600 jobs and professional and business services falling by 1,325. There was an improvement in other labor market indicators with average weekly earnings increasing at 8.5 percent on an annual basis

  Dr. Rick Franza, Dean of the Hull College of Business, discusses a different, timely business topic each Monday in this column. This week, he talks about the impact of inflation on nonprofit organizations. The interview has been edited for clarity and impact. ABD: With inflation still at a 40-year high, many companies are facing increased costs that will probably be passed on to customers through higher prices. But what is the impact of inflation on nonprofits that rely on donations and grants? Rick: It’s a double whammy for them.