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Act 1 Index Data

Act 1 Index Data. Report on the Statewide Average Weekly Wage and the Employment Cost Index for Elementary and Secondary Schools May 2010 PA Association of School Business Officials www.pasbo.org. PA Association of School Business Officials May 4, 2010.

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Act 1 Index Data

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  1. Act 1 Index Data Report on the Statewide Average Weekly Wage and the Employment Cost Index for Elementary and Secondary Schools May 2010 PA Association of School Business Officials www.pasbo.org

  2. PA Association of School Business Officials May 4, 2010

  3. PA Association of School Business Officials May 4, 2010

  4. The first quarter 2010 Employment Cost Index for Elementary and Secondary Schools(ECI) released on April 30 followed a year long slide. The index dropped to 1.9%. From the first quarter of last year the ECI for Elementary and Secondary Schools has gone down from 3.4% to 3.1%, 2.6% and 2.4%. The index makes up half of the Act 1 index calculation. The June 30 report from the U.S. Department of Labor’s Bureau of Labor Statistics will determine what factor will be used for calculating the Act 1 Index. • The other half of the Act 1 Index—the Statewide Average Weekly Wage (SAWW)—is also in decline. For the 2008 Calendar Year the SAWW increase was 2.66%. However, the 2008-09 Fiscal Year increase declined to 1.15%. For the 2008 Calendar Year the SAWW was $846.71. For the 2008-09 Fiscal Year the SAWW dropped to $845.39 or -0.16%. This is the first reduction in the SAWW from calendar year to fiscal year. The 1.15% increase for the 2008-09 Fiscal Year is the lowest increase in 50 years of SAWW data. • For the 2011-12 Act 1 Index calculation Calendar Year 2009 SAWW data (released in June) and the 2009-10 Fiscal Year ECI data (released in July) will be utilized. If the current data does not change, an optimistic forecast, the Act 1 Index would be 1.5% (the average of 1.9% + 1.15%). PDE approves and published the final index. PA Association of School Business Officials May 4, 2010

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