The cost of benefits continues to drive up employee compensation costs, according to a report released Friday by the U.S. Labor Department. Over the last 12 months, total compensation—which includes salaries, wages and benefits—rose 2%. The rise was primarily due to a 3% rise in benefit expenses, the report said. In addition to health insurance, [...]
When Tiffany Lomax’s son turned 2, the single mother tried to go back to work, but her little boy’s health issues kept getting in the way. “Every time he got sick I had to take off,” Lomax, 38, who lost several jobs as her son battled asthma, allergies and other afflictions, told the Daily News. [...]
Social Security’s finances are getting worse as the economy struggles to recover and millions of baby boomers stand at the brink of retirement. Congressional projections show Social Security running deficits every year until its trust funds are eventually drained in about 2037. This year alone, Social Security is projected to collect $45 billion less in [...]
Workers who were laid-off and whose unemployment insurance is about to expire have been given a lifeline as Senate Democrats agreed Thursday to extend benefits to those people for another 14 weeks. The move applies to unemployed people in all 50 states which is a much better deal than a House vote last month that [...]
Record job losses and an increase in early retirement claims from laid-off seniors will cause Social Security to hand out more benefits than it collects in taxes over the next two years- for the first time since the 1980s. The rise in fillings will not affect payments to retirees because Social Security has accumulated surpluses [...]
Congress is starting to consider ways to send some extra money to the 50 million Social Security recipients who otherwise won’t be getting a raise next year. It’s the the first time since the automatic cost-of-living adjustments were added to benefits in 1975, that seniors will not see their benefits increase. Legislation is in the [...]
The House voted in overwhelming support to extend jobless benefits on Tuesday night, but some states are looking for longer-term solutions to the worsening unemployment situation that so many Americans are facing. The Senate is expected to approve the extension quickly, and if it’s signed, the measure would provide more than 1 million jobless people, [...]
A new House measure would extend jobless benefits for more than 300,000 whose compensation will run out by the end of this month, and another 1 million whose benefits will be exhausted by the end of this year. The numbers are daunting- for every one job opening, there are more than six job seekers and [...]
Businesses that hire New Jerseyans who have exhausted their unemployment benefits will be offered a $2,400 incentive, according to a plan that Governor Corzine is expected to announce today. To qualify, the worker must be employed at the company for at least 6 months. So far, more than 45,000 NJ residents have exhausted the maximum [...]
A growing number of unemployed Americans are doing anything they can to make ends meet and live within the means of an unemployment check– if they’re lucky enough to still be receiving one. Nearly 5.5 million people exhausted their 26 weeks of standard benefits without landing a job, making it the highest “exhaustion rate” on [...]
Spending money wisely, from home repair to shopping
