Economists predict an interest-rate hike in December

November 13th, 2015  // News

Ninety-two percent of the private economists surveyed by The Wall Street Journal believe the Federal Reserve will start raising interest rates at the policy meeting to be held on Dec. 15-16. In recent comments, Federal Reserve officials have suggested they were ready to act and have discussed the pace of future increases. Read more

Labor Dept.’s overtime rule will appear later than expected

November 12th, 2015  // News

A final Labor Department rule expanding overtime eligibility probably won't come about until late next year, Solicitor of Labor Patricia Smith revealed at a panel discussion. The department has proposed raising the salary limit for overtime eligibility to $50,400, up from $23,660. The rule had been expected to go into effect later this year or in early 2016. Smith said the longer time frame was due to the complexity of the rule and the volume of comments the department has received. Read more

Job-hoppers are getting higher salaries

November 11th, 2015  // News

Workers who have switched jobs are being rewarded with higher pay, according to the ADP Research Institute's Workforce Vitality Report. Employees in the same positions they were in last year are earning an average of 3.5% more. People who changed jobs have seen a 6.5% bump in pay. Read more

Clients underestimate retirement needs, financial planners say

November 10th, 2015  // News

Over half of clients underestimate their retirement expenses and the amount of money they'll need to retire, a recent survey of CPA financial planners found. Over three-quarters of respondents said overspending was a key reason clients need to change their retirement plans. More than a quarter of clients will change their plans only when circumstances force them to. Read more

US Fed official sees 2 sides to rate decision

November 9th, 2015  // News

Another data point in US Federal Reserve interest-rate thinking emerged with remarks by San Francisco Fed President John Williams, who said the decision to hold rates steady was a "close call" even at the Fed's October meeting. However, Williams tempered the statement, saying he's waiting to see more economic data before the Fed's next meeting in mid-December. Read more

271,000 jobs added in October

November 6th, 2015  // News

Employers hired at the fastest pace so far this year in October, creating 271,000 nonfarm jobs. The unemployment rate edged down to 5%. A broader measure of unemployment that includes people who are working part time or not actively looking for work dropped to 9.8%, the lowest reading since May 2008. Average earnings rose by 9 cents an hour for an annualized gain of 2.5%. Read more

Yellen says December rate hike “could be appropriate”

November 5th, 2015  // News

A mid-December decision to increase interest rates "could be appropriate" if economic growth holds up, Federal Reserve Chair Janet Yellen told the House Financial Services Committee. She stressed that no decision had been made. Read more

Fed’s top 3 could reinforce possibility of rate boost in December

November 4th, 2015  // News

The top three policymakers at the US Federal Reserve are scheduled to speak today, and they could use the opportunity to reinforce expectations of an interest-rate boost next month. Read more

Lack of understanding leads consumers to choose the wrong health plans

November 3rd, 2015  // News

Consumers with the lowest levels of understanding about how health insurance works are the least likely to choose the most appropriate plan for their circumstances, and many consumers have trouble making cost-effective selections, studies have shown. Read more

Employee wellness programs concern some critics

November 2nd, 2015  // News

Although still in the minority, some companies are penalizing employees who don't participate in wellness programs by levying surcharges on them. Critics have raised concerns about data privacy and the fact that some wellness vendors perform more screenings than medical groups recommend. Read more

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