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Disability insurance plans: trends in employee access and employer costs

March 4, 2015 Comments off

Disability insurance plans: trends in employee access and employer costs
Source: Bureau of Labor Statistics

Short- and long-term disability insurance programs replace some of the wages lost by people who cannot work because of a disabling injury or illness that is not work-related. Short-term disability insurance typically covers periods lasting less than 6 months, and long-term disability insurance lasts for the length of the disability or until retirement.

Those workers who are unable to work due to injury or illness and who do not have disability insurance coverage through their employers may seek benefits from Social Security Disability Insurance (SSDI). The number of SSDI claimants has grown over the past decade as younger workers and those in relatively low-skill, low-pay jobs have applied for benefits. This has prompted interest in the amount of coverage for workers in employer-provided disability insurance programs. This issue of Beyond the Numbers examines trends in employer-provided disability insurance coverage over time, explains the basic terms of coverage for typical plans, and estimates the costs to private employers.

Volunteering in the United States – 2014

March 3, 2015 Comments off

Volunteering in the United States – 2014
Source: Bureau of Labor Statistics

The volunteer rate was little changed at 25.3 percent for the year ending in September 2014, the U.S. Bureau of Labor Statistics reported today. About 62.8 million people volunteered through or for an organization at least once between September 2013 and September 2014. The volunteer rate in 2013 was 25.4 percent.

Consumer Expenditures in 2013 (Published February 2015)

March 2, 2015 Comments off

Consumer Expenditures in 2013 (PDF)
Source: Bureau of Labor Statistics

Consumer spending in 2013 decreased 0.7 percent from 2012, based on annual data from the Consumer Expenditure Survey (CE). This decrease follows 2 years of increasing expenditures. Consumer units’ (CUs) average annual expenditures decreased from $51,442 in 2012 to $51,100 in 2013. Along with the decrease in expenditures in 2013, there was also a decline in income from 2012 to 2013. Average annual income before taxes decreased 2.8 percent from $65,596 in 2012 to $63,784 in 2013. In contrast, average pretax income rose 3.0 percent from 2011 to 2012.

Independence for young millennials: moving out and boomeranging back

March 2, 2015 Comments off

Independence for young millennials: moving out and boomeranging back
Source: Bureau of Labor Statistics

Using data from the National Longitudinal Survey of Youth 1997, this article examines the process of household formation for young adults born between 1980 and 1984. The analysis finds that, by age 27, about 90 percent of these individuals had left their parental households at least once and more than 50 percent of them had moved back at some point after moving out. The article also reveals that the likelihood of moving out and boomeranging back is correlated with certain individual and family characteristics, including gender, race, educational attainment, and household income.

The Employment Situation — January 2015

February 6, 2015 Comments off

The Employment Situation — January 2015
Source: Bureau of Labor Statistics

Total nonfarm payroll employment rose by 257,000 in January, and the unemployment rate was little changed at 5.7 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in retail trade, construction, health care, financial activities, and manufacturing.

Highlights of women’s earnings in 2013

February 3, 2015 Comments off

Highlights of women’s earnings in 2013 (PDF)
Source: Bureau of Labor Statistics

In 2013, women who were full-time wage and salary workers had median usual weekly earnings of $706. On average in 2013, women made 82 percent of the median weekly earnings of male full-time wage and salary workers ($860). In 1979, the first year for which comparable earnings data are available, women earned 62 percent of what men earned.

This report presents earnings data from the Current Population Survey (CPS), a national monthly survey of approximately 60,000 households conducted by the U.S. Census Bureau for the U.S. Bureau of Labor Statistics (BLS). Information on earnings is collected from onefourth of the CPS sample each month. It is important to note that the comparisons of earnings in this report are on a broad level and do not control for many factors that can be significant in explaining earnings differences. See the accompanying technical notes section for more information, including a description of the source of the data and an explanation of the concepts and definitions used in this report.

Worker’s expectations about losing and replacing their jobs: 35 years of change

January 27, 2015 Comments off

Worker’s expectations about losing and replacing their jobs: 35 years of change
Source: Bureau of Labor Statistics

In a 1980 Monthly Labor Review article, I used data from 1977 and 1978 nationwide public opinion surveys to show that relatively few (7.7 percent) workers surveyed feared the loss of their jobs and a majority (59.2 percent) thought that they could find comparable work without much difficulty. Unemployment rates were 7 percent in 1977 and 6 percent in 1978.

Other findings were as follows:

+ Blacks, those with less education, workers with lower earnings, and those with lower skilled jobs tended to experience greater insecurity of employment. They were more likely to fear being laid off in the next 12 months and were more likely to anticipate difficulty in finding a comparable job.

+ By contrast, workers with more education, those with higher earnings, and those in higher skilled jobs typically expressed a greater sense of security in their present jobs and were more likely to believe that finding a comparable job would be easy.

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