Workspan Daily News Bytes for April 17, 2026

Virginia Raises State Minimum Wage to $15 Per Hour

On Thursday, April 9, Virginia Gov. Abigail Spanberger signed into law legislation that incrementally increases the state’s minimum wage to $15 per hour.

Virginia’s current hourly minimum wage of $12.77 per hour went into effect Jan. 1, 2026. The newly signed legislation will increase the minimum wage to $13.75 per hour on Jan. 1, 2027, and subsequently increase the minimum wage to $15 per hour on Jan. 1, 2028.

Additional legislation also was signed to pay Virginia’s farm workers the state minimum wage.

“Today, we are putting more money in the pockets of Virginia workers,” Spanberger said in the April 9 announcement. “If you work full time in Virginia, you should be able to afford to live in Virginia. You should be able to keep up with your rent or mortgage, fill your medications, and save for your kids’ futures. I am signing legislation to support the men and women who power our economy, including so many of the people who keep our agriculture industry strong — and we were proud to work with the Virginia Farm Bureau to strike a balance to protect farm workers and our vital farming industry.”

Rising Costs, Financial Uncertainty Impacting Retirement Plans

Seventy-five percent of U.S. workers aged 50 and older are delaying retirement due to recent market volatility, according to a Retirement Reality Check Report from career website LiveCareer.

Based on a survey of 878 American workers in the demographic, the data found most respondents aren’t stepping into retirement with confidence:

55% said their biggest worry is the cost of healthcare or long-term care.
49% feared they would outlive their savings.
30% cited stock market instability as a major concern.
21% worried about inflation reducing their buying power.
Only 2% of respondents said they aren’t worried at all about their financial future.

Along with delaying retirement, many of the surveyed older workers also are making significant lifestyle and investment changes:

41% have made changes to their investment strategy due to market instability.
Just 8% said they’re staying the course with no changes.

Even as they delay retirement, many older workers already are drawing from their retirement savings, often out of necessity:

61% of the respondents said they are regularly withdrawing from their retirement accounts.
30% dip into savings occasionally, for specific expenses.
8% are holding off and saving their funds for later.

IBM to Pay $17 Million in DEI Settlement

In a first-of-its-kind “Civil Rights Fraud Initiative” case, computer technology company IBM has agreed to pay $17 million to the U.S. government in a settlement after President Donald Trump’s administration claimed the firm had discriminatory diversity, equity, and inclusion (DEI) policies.

In the settlement signed by the U.S. Department of Justice (DOJ) and IBM, the government alleged IBM’s practices included using a “diversity modifier” that “tied bonus compensation to achieving demographic targets,” ‌among ⁠other claims. The settlement also said IBM terminated or modified various programs and policies, but that the company denied engaging in unlawful conduct.

“Merit drives promotion and opportunity — not someone’s sex or race,” Associate Attorney General Stanley Woodward said in a press release. “[The April 10] settlement proves this department’s commitment to ensure companies are not using taxpayer-funded work to further woke unconstitutional practices in American workplaces.”

This comes after President Trump issued executive orders in January 2025 barring “illegal” DEI programs and promoting “colorblind equality” and merit-based opportunities. Many U.S. companies scaled back or modified diversity policies after Trump’s orders.

BNY Homeowner Program Aims to Assist U.S. Employees

BNY, a global financial services company, recently announced the launch of a new homeowner program for U.S.-based employees to help them navigate the journey to homeownership and address affordability pressures. The program combines education, access to mortgage benefits and BNY-funded downpayment assistance.

Eligible U.S. employees with qualifying compensation of $100,000 or less annually may qualify for $6,500 in downpayment assistance to be used toward the purchase of their first home. All U.S. employees will have access to on-demand digital education and live seminars, as well as special mortgage benefits.

“Homeownership is a pathway to financial security and economic prosperity, and we’re committed to helping our people reach it,” said BNY CEO Robin Vince. “By offering benefits that strengthen financial wellness and family stability, we are investing in our employees and the communities we serve — helping build a more resilient economy.”

Figures and Facts of the Week

2,304: The average dollar amount people have set aside for unexpected healthcare costs, according to an employee benefits survey by payroll processing firm ADP.
75: The percentage of employees who said receiving recognition influences their decision to stay with an employer, according to research from staffing firm Robert Half.
72: The percentage of global employers who said they are struggling to find the skilled talent they need, according to a 2026 Global Talent Shortage report by staffing and recruitment agency ManpowerGroup.
70: The percentage of U.S. job postings that listed “business operations skills” as the top requirement in the skill category of jobs posted, according to research by employment website Indeed.
48: The percentage of working Gen Z members in the U.S. who believe the risks of artificial intelligence (AI) in the workforce outweigh its benefits, according to a new report by analytics and advisory firm Gallup.
43: The percentage of U.S. graduates aged 22 to 27 who were underemployed (meaning graduates holding jobs that typically do not require a four-year degree) as of December 2025, according to data from the New York Federal Reserve Bank.