| Compensation costs for civilian workers increased 0.4 percent, seasonally adjusted, for the 3-month period ending
September 2012. Wages and salaries (which make up about 70 percent of compensation costs) increased 0.3 percent, and benefits (which make up the remaining 30 percent of compensation) increased 0.8 percent.
Civilian Workers: Compensation costs for civilian workers increased 2.0 percent for the 12-month period ending September 2012. In September 2011 the increase was also 2.0 percent. Wages and salaries increased 1.7 percent for the current 12-month period, essentially unchanged from a year ago when wages and salaries increased 1.6 percent. Benefit costs increased 2.6 percent for the 12-month period ending September 2012 down from the September 2011 increase, which was 3.2 percent.  State and Local Government Workers: Compensation costs for state and local government workers increased 1.8 percent for the 12-month period ending September 2012. In September 2011 the increase was 1.5 percent. Since June 1982 12-month increases have ranged from 1.3 percent to 9.6 percent. Wages and salaries increased 1.1 percent for the 12-month period ending September 2012, essentially unchanged from a year earlier when the increase was 1.0 percent. Since June 1982, 12-month increases have ranged from 1.0 percent to 8.5 percent. Benefit costs increased 3.2 percent in September 2012. In September 2011 the increase was 2.5 percent. Since June 1990, 12-month increases have ranged from 1.2 percent to 8.3 percent. Source: USDOL-BLS |
31 October 2012
• U.S. Employment Costs Up 2% for Year – September 2012
30 October 2012
• U.S. Consumer Confidence Index Increases – September 2012
|
“The Conference Board Consumer Confidence Index®, which had declined in August, improved in September. The Index now stands at 70.3 (1985=100), up from 61.3 in August.
”Says Lynn Franco, Director of Economic Indicators at The Conference Board: ‘The Consumer Confidence Index rebounded in September and is back to levels seen earlier this year (71.6 in February 2012). Consumers were more positive in their assessment of current conditions, in particular the job market, and considerably more optimistic about the short-term outlook for business conditions, employment and their financial situation. Despite continuing economic uncertainty, consumers are slightly more optimistic than they have been in several months.’” Source: The Conference Board |
• U.S. Major Metropolitan Areas: September Jobless Rates Down Over the Year In 345 Of 372 Metro Areas; Payroll Jobs Up In 267
|
Unemployment: Rates were lower in September than a year earlier in 345
of the 372 metropolitan areas, higher in 22 areas, and unchanged in 5
areas. Two areas
recorded jobless rates of at least 15.0 percent, while 41 areas
registered rates of less than 5.0 percent. Employment: Two hundred sixty-seven metropolitan areas reported over-the-year increases in nonfarm payroll employment, 94 reported decreases, and 11 had no change. The national unemployment rate in September was 7.6 percent, not seasonally adjusted, down from 8.8 percent a year earlier. Connecticut Major Metro Employment:  Source: USDOL-BLS |
• Using Background Checks…without Running Afoul of Discrimination Charges
| “Background checks for employment may seem like an obvious screening tool to weed out applicants who give false information or who are unfit for the job.
”However, these same background checks can catch the attention of the Equal Employment Opportunity Commission….” Source: Business & Legal Resources |
29 October 2012
• U.S. Payrolls Increased – September 2012
| Private wage and salary disbursements increased $19.5 billion in September, compared with an increase
of $4.1 billion in August.
Goods-producing industries' payrolls increased $2.9 billion, in contrast to a decrease of $7.2 billion; manufacturing payrolls increased $0.5 billion, in contrast to a decrease of $6.3 billion. Services-producing industries' payrolls increased $16.6 billion, compared with an increase of $11.3 billion. Government wage and salary disbursements increased $1.4 billion, compared with an increase of $2.8 billion. Source: USDOL-BEA |
• U.S. Personal Income Rose – September 2012
| Personal income increased $48.1 billion, or 0.4 percent, and disposable personal income (DPI)
increased $43.0 billion, or 0.4 percent, in September.
Personal consumption expenditures (PCE) increased $87.9 billion, or 0.8 percent. In August, personal income increased $17.8 billion, or 0.1 percent, DPI increased $15.1 billion, or 0.1 percent, and PCE increased $59.9 billion, or 0.5 percent, based on revised estimates.” Source: USDOL-BEA |
• Coastal Waters Forecast National Weather Service New York Ny 712 Am Edt Mon Oct 29 2012
| Montauk Point New York To Sandy Hook New Jersey Out 20 Nm Offshore
Including Long Island Sound...Long Island Bays And New York Harbor
Long Island Sound West Of New Haven Ct/Port Jefferson Ny-
712 Am Edt Mon Oct 29 2012
Hurricane Force Wind Warning In Effect Through Tuesday Morning TODAY: NE winds 25 to 35 kt with gusts up to 40 kt...increasing To 35 to 45 kt with gusts up to 65 kt late this morning and Afternoon. Seas 5 to 8 ft...building to 9 to 12 ft late this morning And afternoon. Rain. Vsby 1 to 3 nm late this morning and afternoon. TONIGHT: E winds 35 to 45 kt with gusts up to 75 kt...becoming se 25 to 35 kt with gusts up to 60 kt after midnight. Seas 9 to 12 ft... Subsiding to 5 to 7 ft. Rain until early morning. Rain late. Vsby 1 to 3 nm. TUE: SE winds 25 to 30 kt...becoming s 20 to 25 kt in the Afternoon. Gusts up to 45 kt. Seas 5 to 7 ft...subsiding to 4 to 5 ft in the afternoon. Showers. TUE NIGHT: SE winds 15 to 20 kt with gusts up to 30 Kt...becoming s 10 to 15 kt with gusts up to 20 kt after midnight. Seas 2 to 4 ft. Showers likely. WED: S winds 10 to 15 kt with gusts up to 25 kt. Seas 2 to 3 ft. A Chance of showers.
Source: NOAA
|
• Connecticut's Recession Recovery - September 2012
|
Connecticut has recovered 31,400, or 26.7%, of the 117,500 total nonfarm jobs lost in the
March 2008 - February 2010 recessionary downturn.
The private sector has regained 42,600 (38.7%) of the 110,200 private jobs lost in that same recessionary period. Government (-11,200), financial activities (-3,000), construction and mining (-1,200), other services (-100), and now manufacturing (-200) have continued to lose jobs even after the recovery began in February 2010. The current job recovery high point in Connecticut (1,634,900) was reached in February 2012 during the record warm winter seven months ago. Source: CTDOL |
28 October 2012
• Hurricane Sandy Forecast 1213 Sunday 28 OCT 2012
Long Island Sound West Of New Haven Ct/Port Jefferson NY-HURRICANE FORCE WIND WARNING IN EFFECT FROM MONDAY MORNING THROUGH TUESDAY MORNING THIS AFTERNOON NE WINDS 15 TO 20 KT WITH GUSTS UP TO 30 KT. SEAS 2 TO 4 FT. TONIGHT NE WINDS 20 TO 25 KT WITH GUSTS UP TO 35 KT...INCREASING TO 25 TO 30 KT WITH GUSTS UP TO 45 KT AFTER MIDNIGHT. SEAS 4 TO 6 FT...BUILDING TO 5 TO 8 FT LATE. MON NE WINDS 30 TO 40 KT WITH GUSTS UP TO 55 KT...INCREASING TO 40 TO 45 KT WITH GUSTS UP TO 65 KT LATE. SEAS 9 TO 12 FT. RAIN. VSBY 1 TO 3 NM. MON NIGHT E WINDS 40 TO 50 KT WITH GUSTS UP TO 65 KT. SEAS 9 TO 14 FT...SUBSIDING TO 8 TO 11 FT AFTER MIDNIGHT. RAIN. VSBY 1 TO 3 NM. TUE SE WINDS 35 TO 40 KT WITH GUSTS UP TO 55 KT...DIMINISHING TO AROUND 30 KT WITH GUSTS UP TO 45 KT IN THE AFTERNOON. SEAS 7 TO 10 FT...SUBSIDING TO 5 TO 8 FT IN THE AFTERNOON. RAIN...MAINLY IN THE MORNING. VSBY 1 TO 3 NM. TUE NIGHT SE WINDS 25 TO 30 KT...BECOMING S 15 TO 20 KT AFTER MIDNIGHT. SEAS 3 TO 5 FT. SHOWERS LIKELY. VSBY 1 TO 3 NM. WED SW WINDS 10 TO 15 KT. SEAS 2 TO 4 FT...SUBSIDING TO 1 TO 2 FT AFTER MIDNIGHT. A CHANCE OF SHOWERS. THU W WINDS 10 TO 15 KT. SEAS 2 TO 3 FT. ” Source: NOAA |
• Connecticut: Winds to 65 Knots [74.75 mph] in Forecast for Sandy
| Long Island Sound West Of New Haven CT/Port Jefferson NY-
800 AM EDT SUN OCT 28 2012
HURRICANE FORCE WIND WARNING IN EFFECT FROM MONDAY MORNING THROUGH TUESDAY MORNING TODAY NE WINDS 20 TO 25 KT...DIMINISHING TO 15 TO 20 KT LATE THIS MORNING AND AFTERNOON. SEAS 3 TO 5 FT. A SLIGHT CHANCE OF SHOWERS LATE THIS MORNING. A CHANCE OF SHOWERS THIS AFTERNOON. TONIGHT NE WINDS 20 TO 25 KT WITH GUSTS UP TO 35 KT...INCREASING TO 25 TO 30 KT WITH GUSTS UP TO 45 KT AFTER MIDNIGHT. SEAS 4 TO 6 FT. SHOWERS. VSBY 1 TO 3 NM AFTER MIDNIGHT.  MON NIGHT E WINDS 40 TO 50 KT WITH GUSTS UP TO 65 KT. SEAS 6 TO 9 FT. RAIN. VSBY 1 TO 3 NM. TUE SE WINDS 35 TO 40 KT WITH GUSTS UP TO 55 KT...DIMINISHING TO AROUND 30 KT WITH GUSTS UP TO 45 KT IN THE AFTERNOON. SEAS 3 TO 5 FT. RAIN...MAINLY IN THE MORNING. VSBY 1 TO 3 NM. TUE NIGHT SE WINDS 25 TO 30 KT...BECOMING S 15 TO 20 KT AFTER MIDNIGHT. SEAS 3 TO 5 FT. SHOWERS LIKELY. VSBY 1 TO 3 NM. WED SW WINDS 10 TO 15 KT. SEAS 2 TO 4 FT...SUBSIDING TO 1 TO 2 FT AFTER MIDNIGHT. A CHANCE OF SHOWERS.” Source: NOAA |
• U.S. Consumer Sentiment Increased – October 2012
| “Confidence among U.S. consumers rose in October from the prior month to the highest level since before the last recession began five years ago.
”The Thomson Reuters/University of Michigan final consumer sentiment index climbed to 82.6, the highest since September 2007, from 78.3 in September. Economists projected 83 for the measure after a preliminary October reading of 83.1, according to the median forecast of 60 economists surveyed by Bloomberg News.” Source: Bloomberg.com |
27 October 2012
• U.S. GDP Accelerated in Q3
| Real gross domestic product -- the output of goods and services produced by labor and property
located in the United States -- increased at an annual rate of 2.0 percent in the third quarter of 2012 (that
is, from the second quarter to the third quarter), according to the "advance" estimate. In the second quarter, real GDP increased 1.3 percent.
The third-quarter advance estimate released today is based on source data that are incomplete or subject to further revision by the source agency. The "second" estimate for the third quarter, based on more complete data, will be released on November 29, 2012. The increase in real GDP in the third quarter primarily reflected positive contributions from personal consumption expenditures (PCE), federal government spending, and residential fixed investment that were partly offset by negative contributions from exports, nonresidential fixed investment, and private inventory investment. Imports, which are a subtraction in the calculation of GDP, decreased. The acceleration in real GDP in the third quarter primarily reflected an upturn in federal government spending, a downturn in imports, an acceleration in PCE, a smaller decrease in private inventory investment, an acceleration in residential fixed investment, and a smaller decrease in state and local government spending that were partly offset by downturns in exports and in nonresidential fixed investment. Source: USDOC-BEA |
26 October 2012
• Connecticut Hours and Wages - September 2012
|
Hours of Work: The workweek for employees in the private sector, not seasonally adjusted, averaged 34.1
hours in September 2012, which is higher by two-tenths of an hour from the August 2012 figure (33.9), but at the
same level as September 2011.
Average Hourly Earnings: At $28.13, not seasonally adjusted, are now down just one cent, or just below (less than 0.05%) the September 2011 amount. Average Weekly earnings: The resulting average private sector weekly pay estimate was $959.23, down just 34 cents, or less than 0.05% over the year. Source: CTDOL |
25 October 2012
• Connecticut Unemployment Insurance 101
|
Employer Education Breakfast Seminar Presented by the Connecticut Department of Labor,
Office of Program Policy:
Wednesday, November 14, 2012, 8:30 a.m. to 11:00 a.m., Connecticut Department of Labor, 200 Folly Brook Blvd., Wethersfield, CT, (860) 263-6757. Topics include: • Tips for employers. • The laws of quits and fires. • Experience rating. • First-level adjudications appeals process. Further Information: CTDOL |
• U.S. Workplace Injuries & Illnesses - 2011
| Nearly 3.0 million nonfatal workplace injuries and illnesses were reported by private industry employers
in 2011, resulting in an incidence rate of 3.5 cases per 100 equivalent full-time workers, according to
estimates from the Survey of Occupational Injuries and Illnesses (SOII) conducted by the U.S. Bureau
of Labor Statistics.
The rate reported for 2011 was unchanged for the first time in a decade during which the total recordable cases (TRC) injury and illness incidence rate among private industry employers declined significantly each year since 2002, when estimates from the SOII were first published using the current OSHA requirements for recording occupational injuries and illnesses. Key findings from the 2011 Survey of Occupational Injuries and Illnesses: • The incidence rate of injury and illness cases involving job transfer or restriction only among private industry establishments declined in 2011. Rates remained unchanged from 2010 for all other case types--cases with days away from work, job transfer, or restriction together; cases with days away from work; and other recordable cases not requiring time away from work. • Agriculture, forestry, fishing and hunting was one of only two private industry sectors to experience an increase in the rate of injuries and illnesses in 2011 compared to 2010, driven by increases in cases in both the crop production and animal production (primarily dairy cattle and milk production) industries. The rate of injuries and illnesses for the accommodation and food services sector also rose in 2011, driven largely by an increase in other recordable cases in both limited-service restaurants and full-service restaurants. • Two private industry sectors experienced declines in the rate of injuries and illnesses in 2011 compared to 2010--health care and social assistance (driven by declines both in hospitals and in nursing and residential care facilities) and retail trade (with large declines in cases among supermarkets and other grocery stores and several other industries). • Manufacturing was the only private industry sector in 2011 in which the rate of job transfer or restriction only cases exceeded the rate of cases with days away from work. This continued a 14- year trend during which this was true. However, the rates for these two case types have been converging in recent years and differed by only 0.2 cases in 2011. • The incidence rate of injuries only among private industry workers declined to 3.3 cases per 100 full-time workers in 2011--down from 3.4 cases in 2010. In comparison, the incidence rate of illness cases was statistically unchanged in 2011. • The TRC rate among state and local government workers of 5.7 cases per 100 full-time workers in 2011 was unchanged from 2010, but was still significantly higher than the private industry rate. The incidence rates for state government and local government individually also remained unchanged in 2011--4.6 cases and 6.1 cases per 100 full-time workers, respectively.”\ Source: USDOL-BLS |
• U.S. Durable Goods Orders Jumped 10% in September 2012
|
New orders for manufactured durable goods in
September increased $19.6 billion or 9.9 percent to
$218.2 billion.
This increase, up four of the last five months, followed a 13.1 percent August decrease. Excluding transportation, new orders increased 2.0 percent. Excluding defense, new orders increased 9.1 percent. Transportation equipment, up five of the last six months, had the largest increase, $16.8 billion or 31.7 percent to $69.6 billion. Source: USDOC-Census |
• U.S. New Home Sales Increased in September 2012
| Sales of new single-family houses in September 2012 were at a seasonally adjusted annual rate of 389,000.
This is 5.7 percent (±14.8%) above the revised August rate of 368,000 and is 27.1 percent (±19.3%) above the
September 2011 estimate of 306,000.
The median sales price of new houses sold in September 2012 was $242,400; the average sales price was $292,400. The seasonally adjusted estimate of new houses for sale at the end of September was 145,000. This represents a supply of 4.5 months at the current sales rate. Source: USDOC-Census |
• U.S. Initial Unemployment Claims Down 23k
In the week ending October 20, the advance figure for seasonally adjusted initial claims was 369,000, a decrease of 23,000 from the previous week's revised figure of 392,000 and down 7.1% from the same week a year ago. The 4-week moving average was 368,000, an increase of 1,500 from the previous week's revised average of 366,500. The advance seasonally adjusted insured unemployment rate was 2.5 percent for the week ending October 13, unchanged from the prior week's unrevised rate. The highest insured unemployment rates in the week ending October 6 were in Alaska (3.9), Puerto Rico (3.8), Virgin Islands (3.8), California (3.0), New Jersey (3.0), Pennsylvania (3.0), Oregon (2.8), Nevada (2.7), New York (2.6), Arkansas (2.5), Connecticut (2.5), Illinois (2.5), and North Carolina (2.5). The largest increases in initial claims for the week ending October 13 were in California (+26,935), Florida (+3,947), Ohio (+1,936), Washington (+1,435), and Alaska (+1,383), while the largest decreases were in New York (-3,395), New Jersey (-1,311), Georgia (-1,285), Massachusetts (-1,141), and Kentucky (-982). Note: “Insured unemployment rate” refers to individuals who are unemployed and receiving UC benefits. Source: USDOL-BLS |
• Connecticut's Labor Market Areas - September 2012
|
Two of the six major Connecticut Labor Market Areas (LMAs) had job increases in
September 2012 and four LMAs had employment declines.
Norwich-New London (1,000, 0.8%) and Hartford-West Hartford-East Hartford (700, 0.1%) experienced over-the-month job increases. Job gains were especially needed in the southeast as Norwich-New London is still the only major LMA to be down over the year in employment (-2,000, -1.6%). Danbury (-700, -1.0%) led declining LMAs, followed by Bridgeport-Stamford-Norwalk (-400, -0.1%), New Haven (-200, -0.1%), and Waterbury (-100, -0.2%). Bridgeport-Stamford-Norwalk (5,200, 1.3%) has led the major LMAs in job growth (in magnitude) since September 2011. Source: CTDOL |
24 October 2012
• IRS: In 2013, Various Tax Benefits Increase Due to Inflation Adjustments
|
For tax year 2013, the Internal Revenue Service has announced annual inflation adjustments for more than two dozen tax provisions.
The annual exclusion for gifts rises to $14,000 for 2013, up from $13,000 for 2012. The amount used to reduce the net unearned income reported on a child’s tax return subject to the “kiddie tax,” is $1,000, up from $950 for 2012. The foreign earned income exclusion rises to $97,600, up from $95,100 in 2012. Details on these inflation adjustments and others such as the low-income housing credit, the dollar limits for high-deductible health plans and other amounts can be found in Revenue Procedure 2012-41, which will be published in Internal Revenue Bulletin 2012-45 on Nov. 5, 2012. Source: IRS |
• Connecticut’s Unemployment – September 2012
|
Unemployment: Based on the household survey, the estimate of people unemployed in September 2012,
seasonally adjusted, was 169,500, which is lower by 1,600 (-0.9%) from August 2012 while the unemployment rate
fell one-tenth of a percentage point to 8.9%. The unemployment rate is now back to the same level tallied in July
2011.
The September 2012 United States unemployment rate was 7.8%, down three-tenths of a percentage point over the month. Connecticut is now well above the national unemployment rate. September average weekly initial unemployment claims for first-time Connecticut filers decreased over the month by 252 (-5.3%) to 4,527, and were lower by a solid 1,400 claims from September 2011, or -23.6%. Source: CTDOL |
23 October 2012
• U.S. Regional and State Employment and Unemployment -- September 2012
|
UNEMPLOYMENT
Regional and state unemployment rates were generally lower in September. Forty-one states, including Connecticut, and the District of Columbia recorded unemployment rate decreases, six states posted rate increases, and three states had no change. Forty-four states and the District of Columbia registered unemployment rate decreases from a year earlier, while six states, including Connecticut, experienced increases. EMPLOYMENT Nonfarm payroll employment increased in 35 states, including Connecticut, and the District of Columbia and decreased in 15 states. The largest over-the-month increase in employment occurred in Texas (+21,000), followed by Pennsylvania (+17,800) and the District of Columbia (+14,200). The largest over-the-month decrease in employment occurred in Michigan (-13,000), followed by Ohio (-12,800) and Oregon (-7,900). Source: USDOL-BLS |
• U.S. and Connecticut Mass Layoffs - September 2012
|
CONNECTICUT
Connecticut employers took 3 mass layoff actions in September involving 200 workers, nsa, as measured by new filings for unemployment insurance benefits during the month. Each mass layoff involved at least 50 workers from a single employer. Connecticut mass layoff events in September decreased by 1 from September 2011, and the number of associated initial claims decreased by 42. NATIONWIDE Nationally, employers took 811 mass layoff actions involving 70,570 workers, nsa. U.S. mass layoff events in September decreased by 378 from the same month a year ago, and the number of associated initial claims decreased by 46,662. Source: USDOL-BLS |
• Connecticut’s Employment Picture – September 2012
|
Connecticut’s September 2012 total non-agricultural employment estimate, seasonally adjusted, grew 2,000 payroll
jobs or 0.1% to 1,626,100. Since September 2011, the state’s job market has added 1,900 positions, or 0.1%
growth. This represents the fourth monthly job gain in 2012, along with four months of losses, and one month with
no change in jobs.
The first nine months of 2012 have now produced job growth of 2,600 positions, which is behind last year’s pace of 8,500 jobs added through September 2011. The private sector in Connecticut added 2,900 (0.2%) jobs in September and has now increased 5,600 positions (0.4%) since September 2011. Six of Connecticut’s ten major employing industries showed job growth in September 2012, while four experienced job declines. Job-producing industries in September were led by education and health services (2,400, 0.7%). Healthcare and social assistance added the bulk of jobs here (2,300, 0.9%, while educational services posted just a slight seasonally-adjusted rise (100, 0.2%) to start the school year. The construction and mining industry was the next biggest job creating industry, gaining 800 (1.7%). Construction added all of the jobs this month (800, 1.7%) while the very small mining component was unchanged. The information industry recorded strong job gain (600, 1.9%). The other services industry increased by 500 jobs (0.8%). Financial activities groupings posted a small employment gain for the second month in a row (200, 0.2%). Finance and insurance came through with the monthly gains (200, 0.2%) whereas real estate was unaffected over the month. Leisure and hospitality (100, 0.1%) rebounded slightly from a large loss (-3,300) last month that definitely was the main contributor for the large overall nonfarm decline in Connecticut’s August job numbers. Government led job-losing industry industries in September (-900, -0.4%) with losses predominantly in local government (-900, -0.6%, includes casino jobs on the reservations), with offsetting movement apparent in state government (100, 0.2%) and federal government (-100, -0.6%). Government (-3,700, -1.6%) accounts for most of the job losses over the year and has been holding back overall job growth in this recovery. The trade, transportation, and utilities (-800, -0.3%) industry had the next biggest job shortfall in September. Retail trade gains (300, 0.2%) were not enough to counteract declines in both wholesale trade (-400, -0.6%) and transportation, warehousing, and utilities (-700, -1.4%). Utilities may be negatively affected by a major merger in the state. Professional and business services dropped 600 positions (-0.3%) this month. This decline came even with a statistically significant gain in jobs from management of companies and enterprises (500, 1.9%). Modest employment losses from administrative and support services (-600, -0.8%) and professional, scientific, and technical services (-500, -0.6%) were enough to bring the industry down this month. While manufacturing experienced its second loss in a row (-300, -0.2%), the larger durable goods production sector actually had over-the-month gains (200, 0.2%) but non-durable goods production components were lower (-500, -1.3%). No job loss from any major industry exceeded 1,000 this month. Source: CTDOL |
22 October 2012
• IRS Announces 2013 Pension Contribution Limits
|
The Internal Revenue Service has announced cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for Tax Year 2013. In general, many of the pension plan limitations will change for 2013 because the increase in the cost-of-living index met the statutory thresholds that trigger their adjustment. However, other limitations will remain unchanged because the increase in the index did not meet the statutory thresholds that trigger their adjustment. Highlights include:
• The elective deferral (contribution) limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan is increased from $17,000 to $17,500. • The catch-up contribution limit for employees aged 50 and over who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan remains unchanged at $5,500. • The deduction for taxpayers making contributions to a traditional IRA is phased out for singles and heads of household who are covered by a workplace retirement plan and have modified adjusted gross incomes (AGI) between $59,000 and $69,000, up from $58,000 and $68,000 in 2012. For married couples filing jointly, in which the spouse who makes the IRA contribution is covered by a workplace retirement plan, the income phase-out range is $95,000 to $115,000, up from $92,000 to $112,000. For an IRA contributor who is not covered by a workplace retirement plan and is married to someone who is covered, the deduction is phased out if the couple’s income is between $178,000 and $188,000, up from $173,000 and $183,000. • The AGI phase-out range for taxpayers making contributions to a Roth IRA is $178,000 to $188,000 for married couples filing jointly, up from $173,000 to $183,000 in 2012. For singles and heads of household, the income phase-out range is $112,000 to $127,000, up from $110,000 to $125,000. For a married individual filing a separate return who is covered by a retirement plan at work, the phase-out range remains $0 to $10,000. • The AGI limit for the saver’s credit (also known as the retirement savings contribution credit) for low- and moderate-income workers is $59,000 for married couples filing jointly, up from $57,500 in 2012; $44,250 for heads of household, up from $43,125; and $29,500 for married individuals filing separately and for singles, up from $28,750. Source: Details on both the unchanged and adjusted limitations |
• In 2 Lawsuits, U.S. Labor Department Obtains Back Wages and Corrective Action for Connecticut Workers Fired for Filing OSHA Complaints
|
” The U.S. Department of Labor has obtained consent judgments requiring two Connecticut employers to pay back wages and take corrective action on behalf of two workers who the department claims were fired in retaliation for filing complaints alleging unsafe or unhealthful conditions with the department's Occupational Safety and Health Administration. ”The department's regional Office of the Solicitor simultaneously filed complaints and consent judgments in the U.S. District Court for the District of Connecticut on behalf of a former employee of Parker Medical, an East Bridgewater manufacturer of X-ray devices, and an employee of Scott Bialik, a Brookfield dentist.” Source: USDOL-OSHA |
• U.S. Weekly Earnings Of Wage And Salary Workers – Q3 2012
|
Median weekly earnings of the nation's 103.6 million full-time wage and
salary workers were $758 in the third quarter of 2012 (not seasonally
adjusted). This was
0.7 percent higher than a year earlier, compared with a gain of 1.7 percent
in the Consumer Price Index for All Urban Consumers (CPI-U) over the same
period.
Wages by Gender: Women who usually worked full time had median weekly earnings of $685, or 82.7 percent of the $828 median for men. The female-to-male earnings ratio varied by race and ethnicity. White women earned 83.4 percent as much as their male counterparts, compared with black (93.2 percent), Hispanic (87.5 percent), and Asian women (73.1 percent). By Race and Ethnicity: Among the major race and ethnicity groups, median weekly earnings for black men working at full-time jobs were $633 per week, or 74.1 percent of the median for white men ($854). The difference was less among women, as black women's median earnings ($590) were 82.9 percent of those for white women ($712). Overall, median earnings of Hispanics who worked full time ($556) were lower than those of blacks ($606), whites ($780), and Asians ($915). By Age: Usual weekly earnings of full-time workers varied by age. Among men, those age 45 to 54 and 55 to 64 had the highest median weekly earnings, $976 and $980, respectively. Usual weekly earnings were highest for women age 35 to 64; weekly earnings were $740 for women age 35 to 44, $754 for women age 45 to 54, and $766 for women age 55 to 64. Workers age 16 to 24 had the lowest median weekly earnings, at $437. By Occupation: Among the major occupational groups, persons employed full time in management, professional, and related occupations had the highest median weekly earnings--$1,300 for men and $948 for women. Men and women employed in service jobs earned the least, $530 and $440, respectively. By Educational Attainment: Full-time workers age 25 and over without a high school diploma had median weekly earnings of $464, compared with $648 for high school graduates (no college) and $1,170 for those holding at least a bachelor's degree. Among college graduates with advanced degrees (professional or master's degree and above), the highest earning 10 percent of male workers made $3,448 or more per week, compared with $2,311 or more for their female counterparts. Source: USDOL |
21 October 2012
• CT WC Commission Posts New CRB Opinion
|
“Read the following Compensation Review Board Opinion, newly posted to our website:
Walsh v. William W. Backus Hospital (Case No. 5691 CRB-2-11-11) - October 15, 2012.” Source: Connecticut Workers' Compensation Commission |
20 October 2012
• “70 Percent Of Your Colleagues Are Looking For A New Job”
|
"Frequent job hoppers cost companies a lot of time and money and a new study reveals that almost everyone is actively looking for a job nowadays." Source: BusinessInsider.com |
19 October 2012
• Connecticut Labor Situation – September 2012
|
Connecticut’s seasonally adjusted unemployment rate was estimated at 8.9% for September 2012. This is down
one-tenth of a percentage point from August 2012, but three-tenths of a percentage point higher than September
2011 (8.6%).
Connecticut’s September 2012 total non-agricultural employment estimate, seasonally adjusted, grew 2,000 payroll jobs or 0.1% to 1,626,100. “An increase in jobs and a drop in the number of unemployed were positives for this month,” said Andy Condon, Director of the Office of Research at the Connecticut Department of Labor. “Unlike the last two months, changes in the employment and unemployment estimates have returned to more typical levels. ”Because of the unprecedented employment changes reported in July and August, it may take several months for our unemployment rate to return to its prior trend path. In addition, it is likely that we will see sizable upward revisions to nonfarm jobs this year when we go through our annual benchmarking process early in 2013. These revisions may add 9,000 to 10,000 jobs to our 2012 nonfarm employment counts.” Source: CTDOL |
• U.S. Initial Unemployment Claims Jump 46k
|
In the week ending October 13, the advance figure for seasonally adjusted initial claims was 388,000, an increase of 46,000 from the previous week's revised figure of 342,000 and down 3.5% from the same week a year ago. The 4-week moving average was 365,500, an increase of 750 from the previous week's revised average of 364,750. The advance seasonally adjusted insured unemployment rate was 2.5 percent for the week ending October 6, a decrease of 0.1 percentage point from the prior week's unrevised rate. The highest insured unemployment rates in the week ending September 29 were in Puerto Rico (3.9), Alaska (3.8), California (3.2), New Jersey (3.1), Virgin Islands (3.1), Pennsylvania (3.0), Connecticut (2.9), Nevada (2.7), Oregon (2.7), Arkansas (2.6), and New York (2.6). The largest increases in initial claims for the week ending October 6 were in New York (+2,700), Oregon (+2,215), Illinois (+1,800), Texas (+1,724), and Georgia (+1,651), while the largest decreases were in California (-4,979), Alabama (-322), West Virginia (-50), and Rhode Island (-42). Note: “Insured unemployment rate” refers to individuals who are unemployed and receiving UC benefits. Source: USDOL-BLS |
• “Prolonged Sitting Raises Risk Of Type 2 Diabetes, Heart Disease, Death”
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“Sitting around for long periods raises the risk of developing type 2 diabetes, heart disease and premature death, even for people who have the amount of daily physical activity recommended by health professionals....”
Source: MedicalNewsToday.com |
18 October 2012
• Connecticut House Prices Dropped in September
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“Connecticut home sale prices fell 2.9 percent in September from a year ago while unit sales climbed 2 percent….
”The median price fell to $265,000 from $273,000 amid a climb in unit sales to 2,721 from 2,668.” Source: NorwichBulletin.com |
• U.S. Housing Starts & Building Permits – September 2012
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BUILDING PERMITS: Privately-owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 894,000. This
is 11.6 percent (±1.1%) above the revised August rate of 801,000 and is 45.1 percent (±1.8%) above the September 2011 estimate of
616,000.
Single-family authorizations in September were at a rate of 545,000; this is 6.7 percent (±0.9%) above the revised August figure of 511,000. Authorizations of units in buildings with five units or more were at a rate of 323,000 in September. HOUSING STARTS: Privately-owned housing starts in September were at a seasonally adjusted annual rate of 872,000. This is 15.0 percent (±12.1%) above the revised August estimate of 758,000 and is 34.8 percent (±18.2%) above the September 2011 rate of 647,000. Single-family housing starts in September were at a rate of 603,000; this is 11.0 percent (±11.1%) above the revised August figure of 543,000. The September rate for units in buildings with five units or more was 260,000. Source: USDOC-Census |
17 October 2012
• Succession Planning: 5 Tips for Finding and Grooming A Successor
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“Who’s next in line?
”Succession planning is critical for an organization's long-term success, yet it's a task that's often overlooked," says John Reed, senior executive director of Robert Half Technology.” Source: Business & Legal Resources |
• “Top 10 Contributors to Employee Job Satisfaction”
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“Employees identified these factors as their top 10 most important contributors to their job satisfaction. “Job security: 63%, for the fourth consecutive year, as the top most important determinant of job satisfaction. (67% of employees are very satisfied or satisfied with their job security.) ”Opportunities to Use Skills and Abilities:…". Source: HumanResources.About.com |
16 October 2012
• Top 10 Ways to Save Time At Work
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“Workers are being asked to do more work in a shorter amount of time.
”Adam Gurian, president of Timex®, has put together his list of the Top 10 Ways to Save Time at Work, so that workers can increase productivity and makes the best use of their time at the job.” Source: Business & Legal Resources |
• Social Security Announces 1.7% Benefit Increase for 2013
| “Monthly Social Security and Supplemental Security Income (SSI) benefits for nearly 62 million Americans will increase 1.7 percent in 2013, the Social Security Administration announced today.
”The 1.7 percent cost-of-living adjustment (COLA) will begin with benefits that more than 56 million Social Security beneficiaries receive in January 2013. Increased payments to more than 8 million SSI beneficiaries will begin on December 31, 2012. ”Some other changes that take effect in January of each year are based on the increase in average wages. Based on that increase, the maximum amount of earnings subject to the Social Security tax (taxable maximum) will increase to $113,700 from $110,100. Of the estimated 163 million workers who will pay Social Security taxes in 2013, nearly 10 million will pay higher taxes as a result of the increase in the taxable maximum. ”Information about Medicare changes for 2013, when announced, will be available at www.Medicare.gov. For some beneficiaries, their Social Security increase may be partially or completely offset by increases in Medicare premiums.” Source: Social Security.gov |
• U.S. Workers Pay Declined in Real Value, Again – September 2012
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Change From August:
Hourly Earnings: Real average hourly earnings for all employees fell 0.3 percent from August to September, seasonally adjusted.  This decline resulted from a 0.3 percent increase in average hourly earnings being more than offset by a 0.6 percent increase in the Consumer Price Index for All Urban Consumers (CPI-U). Weekly Earnings: Real average weekly earnings were unchanged over the month due to the decrease in real average hourly earnings combined with a 0.3 percent increase in the average workweek. Since reaching a peak in October 2010, real average weekly earnings have fallen 1.3 percent. Change From September 2011: Hourly Earnings:Real average hourly earnings fell 0.2 percent, seasonally adjusted, from September 2011 to September 2012. Weekly Earnings:The decrease in real average hourly earnings, combined with a 0.3 percent increase in the average workweek, resulted in a 0.1 percent increase in real average weekly earnings over this period. Source: USDOL-BLS *Note: Real earnings show the effect of inflation on your pay. If your salary went up by 2.1% over the year while the cost-of-living (CPI-U) rose 2.3%, then the “real” value of your salary fell by 0.2%. |
• U.S. Industrial Production – Little Changed in September 2012
| Industrial production rose 0.4 percent in September after having fallen 1.4 percent in August. For the third quarter as a whole, industrial production declined at an annual rate of 0.4 percent.
Manufacturing output increased 0.2 percent in September but moved down at an annual rate of 0.9 percent in the third quarter. Production at mines advanced 0.9 percent in September, and the output of utilities moved up 1.5 percent. Roughly 0.3 percentage point of the decline in overall industrial production in August reflected the effect of precautionary idling of production in late August along the Gulf of Mexico in anticipation of Hurricane Isaac, and part of the rise in September is a result of the subsequent resumption of activity at idled facilities. At 97.0 percent of its 2007 average, total industrial production in September was 2.8 percent above its year-earlier level. Capacity utilization for total industry moved up 0.3 percentage point to 78.3 percent, a rate 2.0 percentage points below its long-run (1972--2011) average. Source: Federal Reserve |
• U.S. Consumer Prices Up 2% in Year-Ended September 2012
The Consumer Price Index for All Urban Consumers (CPI-U) increased
2.0 percent over the last 12 months to an index level of 231.407
(1982-84=100). For the month, the index increased 0.4 percent prior
to seasonal adjustment.
 The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 2.0 percent over the last 12 months to an index level of 228.184 (1982-84=100). For the month, the index increased 0.5 percent prior to seasonal adjustment. The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 1.7 percent over the last 12 months to an index level of 132.438. For the month, the index increased 0.4 percent on a not seasonally adjusted basis. Please note that the indexes for the post-2010 period are subject to revision. The Consumer Price Index for October 2012 is scheduled to be released on Thursday, November 15, 2012, at 8:30 a.m. (EST). Source: USDOL-BLS |
• Payoff for Master's Degree Evident in Starting Salaries
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“Master's degree graduates in many fields realize significantly higher starting salaries than their counterparts who hold bachelor's degrees, according to a new report by the National Association of Colleges and Employers (NACE).
”NACE's September 2012 Salary Survey indicates that there can be a significant "payoff" for the higher-level degree. "In many fields, average starting salaries fluctuate by more than 20 percent between master's and bachelor's degrees….” Source: NACEWeb.org |
15 October 2012
• Connecticut’s Average Gas Price 30¢ Above National Average
| “The average price of a gallon of Connecticut gasoline fell 3.4 cents to $4.07 as of Sunday, ConnecticutGasPrices.com reported. The average as of Sunday was 7 cents below where it was a month ago but 37.7 cents higher than a year ago.
”The national average also fell last week, dipping 2.8 cents to $3.77, the website reported. The national average has fallen 9 cents during the past month but as of Sunday was 29.6 cents higher than one year ago.” Source: NorwichBulletin.com |
• Connecticut WC Commission Posts New CRB Opinions
| “Read the following Compensation Review Board Opinions, newly posted to our website:
Gendron v. Griffin Health Services Corporation (Case No. 5686 CRB-4-11-10) - October 11, 2012, Lopez v. EC Tree, LLC (Case No. 5698 CRB-8-11-11) - October 11, 2012, and Palmieri v. Simkins Industries, Inc. (Case No. 5694 CRB-3-11-11) - October 10, 2012. Source: Connecticut Workers’ Compensation Commission |
• U.S. Business Sales, Inventories – Increased in August 2012
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Sales. The combined value of distributive trade sales and manufacturers’
shipments for August, adjusted for seasonal and trading-day differences but not for price changes, was estimated at
$1,246.6 billion, up 0.5 percent (±0.2%) from July 2012 and up 3.1percent (±0.3%) from August 2011.
Inventories. Manufacturers’ and trade inventories, adjusted for seasonal variations but not for price changes, were estimated at an end-of-month level of $1,601.7 billion, up 0.6 percent (±0.1%) from July 2012 and up 5.3 percent (±0.4%) from August 2011. Inventories/Sales Ratio. The total business inventories/sales ratio based on seasonally adjusted data at the end of August was 1.28. The August 2011 ratio was 1.26. Source: USDOC-Census |
• U.S. Social Security: No Big Increase in Benefits in 2013
|
“Preliminary figures show the annual benefit boost will be between 1% and 2%, which would be among the lowest since automatic adjustments were adopted in 1975.
”Monthly benefits for retired workers now average $1,237, meaning the typical retiree can expect a raise of $12 to $24 a month next year.” Source: USAToday.com |
• U.S. Retail Sales – Increased in September 2012
| U.S. retail and food services sales for September, adjusted for
seasonal variation and holiday and trading-day differences, but not for price changes, were $412.9 billion, an increase of 1.1 percent
(±0.5%) from the previous month and 5.4 percent (±0.7%) above September 2011.
Total sales for the July through September 2012 period were up 4.8 percent (±0.5%) from the same period a year ago. The July to August 2012 percent change was revised from 0.9 percent (±0.5%) to 1.2 percent (±0.3%). Retail trade sales were up 1.2 percent (±0.5%) from August 2012 and 5.3 percent (±0.7%) above last year. Nonstore retailers sales were up 15.0 percent (±3.1%) from September 2011 and auto and other motor vehicle dealers were up 9.3 percent (±2.5%) from last year.” Source: USDOC-Census |
• “Top Five Personality Traits Employers Hire Most”
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“You’ve made looking for your next job, well… your job. You’ve scoured your resume of clichéd buzzwords, brushed up on body language and even gotten a handle on the dreaded video interview. ”But all that might be for naught if you just don’t have the personality your dream employer is looking for. “…they all can be evaluated by a recruiter or hiring manager within the first 30 seconds of meeting a candidate....” Source: Forbes.com |
14 October 2012
• Middlesex County, Connecticut Career Fair
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Tuesday, October 30, 2012, 11:00 am to 2:30 pm, Crowne Plaza, Cromwell, CT.
Information: MiddlesexChamber.com |
13 October 2012
• What About Eating Fish from Markets and Restaurants?
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“Many fish from the market or restaurant are low in contaminants. Some of these fish are also high in omega-3 fatty acids, a nutrient oil from fish that improves brain development and helps prevent heart disease. However, some fish from the market can contain high levels of certain contaminants, especially mercury.
”In general, people in the High Risk Group can eat up to 2 fish meals a week from the market or at restaurants. Certain fish are especially low in contaminants and can be eaten more often. The following are specific tips for those in the High Risk Group to choose healthy fish from the store: ”Swordfish and Shark: these contain high levels of mercury and should not be eaten. ”Canned tuna: Choose "light" tuna because it has less mercury than "white" tuna. ”Lobster and other shellfish are generally low in chemical contaminants. The tomalley portion of lobster (the green gland) can be high in contaminants and should not be eaten. This applies to lobster from Long Island Sound and elsewhere. ”Sushi: High risk groups should avoid Kajiki (contains swordfish). They should limit eating Ahi, Magoro, and Toro (contains tuna) to 1 meal a month. Both swordfish and tuna contain high levels of mercury.” Source: Connecticut DEEP’s If I Catch It, Can I Eat It? A Guide to Eating Fish Safely |
12 October 2012
• U.S. Consumer Sentiment Increased in October
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“The Thomson Reuters/University of Michigan preliminary October consumer sentiment index increased to 83.1, the highest level since September 2007, from 78.3 the prior month. "The gauge was projected to fall to 78, according to the median forecast of 71 economists surveyed by Bloomberg News.” Source: BusinessWeek.com |
• U.S. Producer Price Index Jumps 1.1% in September
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The Producer Price Index for finished goods rose 1.1 percent in September, seasonally adjusted.
Prices for finished goods advanced 1.7 percent in August and moved up 0.3 percent in July. At the earlier stages of processing, prices received by manufacturers of intermediate goods rose 1.5 percent in September, and the crude goods index advanced 2.8 percent. On an unadjusted basis, prices for finished goods climbed 2.1 percent for the 12 months ended September 2012, the largest rise since a 2.8-percent increase for the 12 months ended March 2012. Source: USDOL-BLS |
• U.S. Unemployment: Official Rate vs. Alternative Rate
 Alternative Rate: Official unemployment rate plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force. Click on chart to enlarge. Involuntary Part-Time Workers: The number of persons employed part time for economic reasons rose from 8.0 million in August to 8.6 million in September. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job. Marginally Attached Workers:In September, 2.5 million persons were marginally attached to the labor force, essentially unchanged from a year earlier. These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. Among the marginally attached, there were 802,000 discouraged workers in September, a decline of 235,000 from a year earlier. Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The remaining 1.7 million persons marginally attached to the labor force in September had not searched for work in the 4 weeks preceding the survey for reasons such as school attendance or family responsibilities. Source: USDOL-BLS |
11 October 2012
• U.S. Labor Turnover – August 2012
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August Total Turnover: U.S. employers experienced the loss of 5.124 million workers during August; this included 2.794 million quits, 1.940 million layoffs and discharges, and 0.390 million “other” separations. August’s turnover was higher than that of the prior month’s 4.552 million, and that of the same month a year ago, 4.856 million. This yielded a monthly turnover level of 3.9% [the number of total separations during the entire month as a percent of total employment].  August Quits: The monthly quit rate in August was 2.1%. This is up from 1.9% in the prior month, and up from 2.0% in August 2011. For the Past 12 Months: Total turnover is 37.3%, up from 37.1% in the prior month and from 36.0% a year ago. The quit rate on annual basis for the last year is 18.8%, up from 18.7% last month and 17.4% a year ago. Quits: …which composed only 48.3% of total turnover two years ago…now account for 50.4% of total separations. SOURCE: USDOL-BLS |
• U.S. Job Openings and Hires – August 2012
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Job Openings: There were 3.624 million jobs open in the U.S. on the last business day of August 2012 [nsa]. This is up 12.7% from 3.216 million openings in the same month a year ago but down from 3.912 million in the prior month.  Hires: U.S. employers hired 4.843 million workers in August, up 4.0% from 4.655 million the same month last year and up from 4.732 million in the prior month. Source: USDOL-BLS |
• U.S. Initial Unemployment Claims Down 30k
|
“In the week ending October 6, the advance figure for seasonally adjusted initial claims was 339,000, a decrease of 30,000 from the previous week's revised figure of 369,000 and down 9.8% from the same week a year ago. The 4-week moving average was 364,000, a decrease of 11,500 from the previous week's revised average of 375,500. The advance seasonally adjusted insured unemployment rate was 2.6 percent for the week ending September 29, unchanged from the prior week's unrevised rate. The highest insured unemployment rates in the week ending September 22 were in Puerto Rico (3.9), Alaska (3.7), Virgin Islands (3.7), Pennsylvania (3.2), New Jersey (3.1), California (3.1), Connecticut (2.9), Nevada (2.7), and Oregon (2.7). The largest increases in initial claims for the week ending September 29 were in New York (+2,764), California (+2,069), North Carolina (+1,217), Pennsylvania (+989), and Arkansas (+538), while the largest decreases were in Mississippi (-3,393), Michigan (-2,639), Florida (-1,972), Ohio (-1,723), and Oregon (-1,135).” Note: “Insured unemployment rate” refers to individuals who are unemployed and receiving UC benefits. Source: USDOL-BLS |
• U.S. Balance of Trade – August 2012
|
Total August exports of $181.3 billion and imports of $225.5 billion resulted
in a goods and services deficit of $44.2 billion, up from $42.5 billion in July, revised.
August exports were $1.9 billion less than July exports of $183.2 billion. August imports were $0.2 billion less than July imports of $225.7 billion. In August, the goods deficit increased $1.5 billion from July to $59.3 billion, and the services surplus decreased $0.3 billion from July to $15.1 billion. Exports of goods decreased $2.1 billion to $128.5 billion, and imports of goods decreased $0.7 billion to $187.8 billion. Exports of services increased $0.2 billion to $52.8 billion, and imports of services increased $0.5 billion to $37.7 billion. The goods and services deficit decreased $0.6 billion from August 2011 to August 2012. Exports were up $2.9 billion, or 1.6 percent, and imports were up $2.3 billion, or 1.0 percent. Source: USDOC-BEA |
• U.S. Wholesale Trade: Sales and Inventories - August 2012
|
Sales: The U.S. Census Bureau announced today that August 2012 sales of merchant wholesalers were $405.4 billion, up 0.9 percent (+/-0.7) from the
revised July level and were up 2.1 percent (+/-0.9%) from the August 2011 level. August sales of durable goods were up 0.9 percent (+/-0.9%) from last month and were up 1.0 percent (+/-1.2%) from a year ago. Sales
of motor vehicle and motor vehicle parts and supplies were up 2.0 percent from last month. Sales of nondurable goods were up 0.9 percent (+/-0.9%)*
from July and were up 3.0 percent (+/-1.2%) from last August. Sales of petroleum and petroleum products were up 5.6 percent from last month.
Inventories: Total inventories of merchant wholesalers were $487.5 billion at the end of August, up 0.5 percent (+/-0.4%) from the revised July level and were up 5.3 percent (+/-1.1%) from the August 2011 level. August inventories of durable goods were up 0.1 percent (+/-0.2%) from last month and were up 7.5 percent (+/-0.9%) from a year ago. Inventories of machinery, equipment, and supplies were up 1.7 percent from last month, while inventories of computer and computer peripheral equipment and software were down 5.1 percent. Inventories of nondurable goods were up 1.2 percent (+/-0.7%) from July and were up 2.3 percent (+/-2.1%) from last August. Inventories of petroleum and petroleum products were up 9.4 percent from last month and inventories of drugs and druggists' sundries were up 1.5 percent. Inventories/Sales Ratio: The August inventories/sales ratio for merchant wholesalers was 1.20. The August 2011 ratio was 1.17. Source: USDOC-Census |
• U.S. Treasury Balance – August 2012
|
U.S. Treasury receipts ($ millions) in August 2012 were $178,860 and expenditures were $269,393 resulting in a deficit of $190,533.
In August 2011 the deficit was $134,143. Source: U.S. Treasury |
• U.S. Employment by Industry - September 2012
|
Health care added 44,000 jobs in September. Job gains continued in ambulatory
health care services (+30,000) and hospitals (+8,000). Over the past year,
employment in health care has risen by 295,000.
Employment increased by 17,000 in transportation and warehousing. Within the industry, there were job gains in transit and ground passenger transportation (+9,000) and in warehousing and storage (+4,000). Employment in financial activities edged up (+13,000), reflecting modest job growth in credit intermediation (+6,000) and real estate (+7,000). Manufacturing employment edged down in (-16,000). On net, manufacturing employment has been unchanged since April. In September, job losses occurred in computer and electronic products (-6,000) and in printing and related activities (-3,000). Employment in other major industries, including mining and logging, construction, wholesale trade, retail trade, information, professional and business services, leisure and hospitality, and government, showed little change over the month. Source: USDOL-BLS |
10 October 2012
• How to Quit A Job
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“Aside from the job interview, the second most stressful day at the office tends to be the day you announce you’re leaving.
"Will you be shown the door instantly, or cajoled to stay? "Will you be able to resist reeling off a list of criticisms about co-workers and company policies? “The central tenet of resigning from a job is: Don’t burn bridges….” Source: Boston.com |
• USDHHS: ”Everyone 6 Months of Age and Older Should Get the Flu Vaccine”
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The U.S. Department of Health and Human Services provides a video on protecting yourself from the flu. Also, use the HHS Flu Vaccine Finder to find a flu vaccine location near you. |
• Connecticut Sees Worst West Nile Season Ever
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“Connecticut got off relatively easy, particularly since there have been no West Nile deaths here this year. "But the state still broke its own record for human cases, said Dr. Theodore G. Andreadis, chief medical entomologist for the Connecticut Agricultural Experiment Station. ”The station traps and tests mosquitoes for West Nile virus throughout the season.” Source: NorwalkCitizenOnLine.com |
• Sick Days Not All Taken for Sickness
|
“Take the employee who couldn’t come to work because of a toe stuck in a faucet. Or the employee who was upset after watching “The Hunger Games” movie. Or the one whose hair turned orange in a home dye job.
”The excuses may be funny, but business managers and productivity experts aren’t laughing. ”American workers take about 2.8 million work days of unplanned absences a year, not counting planned vacation days, holidays or personal days. And that costs billions of dollars in lost productivity. ”A 2010…report on the financial effect of employee absences said the cost of unplanned time off amounted to 5.8 percent of total payroll costs. Source: KansasCity.com |
• Connecticut Home Sales Rise, But Prices Don't Budge
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“Home sales in Connecticut are on a pace to register double-digit gains this year, a hopeful sign that the state's housing market is gaining traction, a new report released Tuesday shows.
”Sale prices, however, have yet to turn up consistently, which is key to a full-fledged housing recovery.” Source: Courant.com |
• U.S. Job Openings – August 2012 [preliminary report, more to follow]
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There were 3.6 million job openings on the last business day of August, essentially unchanged from July, but up over the last 12 months. The hires rate (3.3 percent) and separations [turnover] rate (3.3 percent) were little changed in August. Source: USDOL-BLS |
• U.S. Average Hours of Work - September 2012
|
The average workweek for all employees on private nonfarm payrolls edged up by
0.1 hour to 34.5 hours in September.
The manufacturing workweek edged up by 0.1 hour to 40.6 hours, and factory overtime was unchanged at 3.2 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls was unchanged at 33.7 hours. Source: USDOL-BLS |
09 October 2012
• Connecticut Workers’ Comp Best Practices
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Dr. Peter E. Amato, Medical Director of Occupational Health Plus, a service of Yale-New Haven Hospital’s Worker Health Solutions, will discuss medical best practices in Workers’ Compensation at the Oct 16 Breakfast Roundtable discussion sponsored by the Connecticut Department of Labor’s Division of Occupational Safety and Health (CONN‐OSHA). The event, which will run from 8:15 to 9:45 a.m., will take place in Conference Rooms A, B and C of the agency’s Central Office, located at 200 Folly Brook Boulevard, Wethersfield. Dr. Amato, a subject expert on the topic, will discuss the proper components of a comprehensive Workers Compensation program, prevention initiatives, injury management, and modified duty policies. Admission to the event is free, but pre‐registration is required. Source: To register for the breakfast roundtable or for additional information, please contact John Able at able.john@dol.gov. |
• Medical Marijuana User Fired for Positive Drug Test…Wrongful Discharge?
 ”The Court affirmed dismissal of the plaintiff’s wrongful discharge case against the employer.” Source: JacksonLewis.com Note: A decision in the 6th Circuit has no necessary bearing on any similar case in Connecticut. |
• U.S. Average Hourly Earnings - September 2012
|
In September, average hourly earnings for all employees on private nonfarm
payrolls rose by 7 cents to $23.58.
Over the past 12 months, average hourly earnings have risen by 1.8 percent. In September, average hourly earnings of private-sector production and nonsupervisory employees increased by 5 cents to $19.81. Source: USDOL-BLS |
08 October 2012
• U.S. Unemployment by Race and Ethnicity - September 2012
Among the major worker groups, the unemployment rates were:
Source: USDOL-BLS |
• Guidance on WARN Act Draws Fire
|
“ Because a scheduled federal budget ‘sequestration’ is approaching in January 2013, the Office of Management and Budget and the U.S. Department of Defense issued separate guidance notices on Sept. 28, 2012, to address questions about whether Worker Adjustment and Retraining Notification Act notices needed to be issued just before the presidential election.”
Source: SHRM |
07 October 2012
• Glastonbury, CT Employer to Lay-Off 57 Workers
|
The Connecticut Department of Labor says that Ricoh Americas Corporation of Glastonbury, CT will lay-off 57 workers on 11/29/12; the facility is not closing completely.
According the Ricoh USA website, Ricoh is a global technology company specializing in office imaging equipment, production print solutions, document management systems and IT services. Headquartered in Tokyo, Ricoh Group, operates in more than 200 countries and regions. In the financial year ending March 2011, Ricoh Group had worldwide sales of 1,942 billion yen (approx. 23 billion USD). Source: CTDOL |
06 October 2012
• NLRB Rules On Social Media and Courtesy Policies
 ”Section 7 rights include the right to engage in concerted activities for the purpose of collective bargaining or other mutual aid or protection.” Complete Details: Business & Legal Resources |
05 October 2012
• U.S. Unemployment and Employment – September 2012
|
The unemployment rate decreased to 7.8 percent in September, and total nonfarm
payroll employment rose by only 114,000.
Employment growth has averaged 146,000 per month in 2012, compared with an average monthly gain of 153,000 in 2011. Employment increased in health care and in transportation and warehousing but changed little in most other major industries. Source: USDOL-BLS |
• “The Importance of HR Compliance”
|
“Sometimes it is easy to overlook the importance of human resources and compliance issues.
"In fact, human resource departments face significant enforcement and compliance risks. "In addition, the head of human resources is an important partner on compliance. If a company suffers from weak compliance programs, its human resource department is sure to be a liability for the company.” Source: JDSupra.com |
04 October 2012
• U.S. Factory Orders Plummeted 5.2% in August
|
New orders for manufactured goods in August, down
two of the last three months, decreased $24.9 billion or
5.2 percent to $452.8 billion. This followed a 2.6 percent July
increase. Excluding transportation, new orders increased
0.7 percent.
Shipments, down two of the last three months, decreased $1.3 billion or 0.3 percent to $476.9 billion. This followed a 1.9 percent July increase. Unfilled orders, down following two consecutive monthly increases, decreased $17.0 billion or 1.7 percent to $978.8 billion. This followed a 0.7 percent July increase. The unfilled orders-to-shipments ratio was 6.27, up from 6.23 in July. Inventories, up two consecutive months, increased $3.7 billion or 0.6 percent to $611.8 billion. This was at the highest level since the series was first published on a NAICS basis in 1992 and followed a 0.6 percent July increase. The inventories-to-shipments ratio was 1.28, up from 1.27 in July. Source: USDOC-Census |
• U.S. Initial Unemployment Claims Up 4k
|
In the week ending September 29, the advance figure for seasonally adjusted initial claims was 367,000, an increase of 4,000 from the previous week's revised figure of 363,000 but down 8.7% from the same week a year ago. The 4-week moving average was 375,000, unchanged from the previous week's revised average.  The advance seasonally adjusted insured unemployment rate was 2.6 percent for the week ending September 22, unchanged from the prior week's unrevised rate. The highest insured unemployment rates in the week ending September 15 were in Puerto Rico (4.0), Alaska (3.5), California (3.2), Pennsylvania (3.2), New Jersey (3.2), Virgin Islands (3.1), Connecticut (3.0), Nevada (2.8), and Oregon (2.7). The largest increases in initial claims for the week ending September 22 were in Mississippi (+3,314), Ohio (+1,975), Michigan (+1,179), Alabama (+823), and Kentucky (+372), while the largest decreases were in California (-13,527), New York (-3,773), North Carolina (-2,198), Indiana (-2,160), and Virginia (-1,969). Note: “Insured unemployment rate” refers to individuals who are unemployed and receiving UC benefits. Source: USDOL-BLS |
• Greenwich, CT Employer Shutting Doors – 64 to Be Laid Off
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The Connecticut Department of Labor says that Maxum Petroleum Operating Company of Greenwich, CT will close by 12/15/2012 and lay off 64 employees betweeen 10/12/12 and 12/15/12.
According to the company’s website, “Maxum Petroleum is a national marketer and logistics company for petroleum products, focused on providing a comprehensive fuel and lubricant offering to commercial and industrial industries.” Source: CTDOL |
• Job-Hopping
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” Talent acquisition managers and heads of Human Resources make a valid case for their wariness of resumes filled with 1-2-year stints. They question such applicants’ motivation, skill level, engagement on the-job and ability to get along with other colleagues.
“These hiring managers worry they’ll become the next victims of these applicant’s hit-and-run jobholding. For companies, losing an employee after a year means wasting precious time and resources on training & development, only to lose the employee before that investment pays off. Plus, many recruiters may assume the employee didn’t have time to learn much at a one-year job…. “But for newly minted college graduates, job-hopping can speed career advancement….” Source: Forbes.com |
03 October 2012
• “Job Interview Questions: How Tough and Effective Are Yours?”
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“According to a recent survey…more and more companies are throwing curveballs to candidates--interview questions designed to stump people.
”We'll offer some samples here, but we began by seeking the views of Patricia Siderius on this trend and interviews in general.” Source: Business & Legal Resources |
• U.S. and Connecticut Major Metro Areas: Employment & Unemployment - August 2012
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UNEMPLOYMENT
National: Rates were lower in August than a year earlier in 325 of the 372 metropolitan areas, higher in 40 areas, and unchanged in 7 areas. Five areas recorded jobless rates of at least 15.0 percent, while 20 areas registered rates of less than 5.0 percent.  Click on tables to enlarge. EMPLOYMENT National: Two hundred seventy-four metropolitan areas reported over-the-year increases in nonfarm payroll employment, 92 reported decreases, and 6 had no change. The national unemployment rate in August was 8.2 percent, not seasonally adjusted, down from 9.1 percent a year earlier.  Source: USDOL-BLS |
• Employment Resource for Veterans
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Veterans looking for employment opportunities now have another resource at their fingertips. The Employment and Training Administration recently updated the Veterans ReEmployment portal on CareerOneStop.org to better serve the needs of veterans and military members transitioning to civilian life. Updates include new information and resources to help veterans find employment, explore training options and access veteran and civilian benefits. The new resources serve transitioning veterans, veterans with disabilities, female veterans, workforce and career professionals working with veterans and businesses recruiting veterans. The Veterans ReEmployment Web site also allows veterans to search for jobs that utilize their military experience; learn about unemployment insurance; veterans' benefits and other assistance; obtain job search tips specific to veterans; and find contact information for local and national veterans' resources. Source: Visit Veterans ReEmployment |
• U.S. Consumers: Where Did They Spend Their Money in 2011?
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Average annual expenditures per consumer unit(1) rose 3.3 percent in 2011
following a decrease of 2.0 percent in 2010. The rise in spending in 2011 barely outpaced the
3.2-percent increase in prices for goods and services from 2010 to 2011, as
measured by the average annual change in the Consumer Price Index (CPI-U).
This was the first yearly increase in spending since the 1.7-percent rise from 2007 to 2008, as expenditures had declined in both 2009 and 2010. All major components of household spending increased in 2011. The 8.0-percent rise in transportation spending was the largest percentage increase among all major components. Overall spending on food and cash contributions (including payments for support of college students, alimony and child support, and giving to charities and religious organizations) both increased by 5.4 percent. Other spending highlights include a 4.9-percent rise in health care spending, and modest increases in housing (+1.5 percent), apparel and services (+2.4 percent), entertainment (+2.7 percent), and personal insurance and pensions (+0.9 percent). ” (1) USDOL’s definition of consumer units include families, single persons living alone or sharing a household with others but who are financially independent, or two or more persons living together who share expenses. Source: USDOL-BLS |
02 October 2012
• U.S. Auto Sales Accelerated in September
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“After all car companies finish reporting Tuesday, total U.S. sales are expected to rise to more than 1.1 million vehicles, up 11 percent from September of 2011. Most analysts expect an annual rate around 14.5 million.”
Source: BusinessWeek.com |
• Connecticut WC Commission Posts New CRB Opinion
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“Read the following Compensation Review Board Opinion, newly posted to our website: ”Tedesco v. Decorator Services, (Case No. 5693 CRB-4-11-11) - September 27, 2012. Source: Connecticut Workers’ Compensation Commission |
• U.S. Construction Spending Dropped 2% in August
Construction spending during August 2012 was estimated at a seasonally adjusted annual rate of $837.1 billion, 0.6 percent (±2.1%) below the revised July estimate of $842.0 billion.The August figure is 6.5 percent (±2.1%) above the August 2011 estimate of $786.3 billion. During the first 8 months of this year, construction spending amounted to $545.2 billion, 9.0 percent (±1.5%) above the $500.1 billion for the same period in 2011. Source: USDOC-Census |
• U.S. Purchasing Managers Say Manufacturing Is Looking Up
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“Economic activity in the manufacturing sector expanded in September following three consecutive months of slight contraction, and the overall economy grew for the 40th consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business®.
“The PMI™ registered 51.5 percent, an increase of 1.9 percentage points from August's reading of 49.6 percent, indicating a return to expansion after contracting for three consecutive months. "The New Orders Index registered 52.3 percent, an increase of 5.2 percentage points from August, indicating growth in new orders after three consecutive months of contraction. "The Production Index registered 49.5 percent, an increase of 2.3 percentage points and indicating contraction in production for the second time since May 2009. "The Employment Index increased by 3.1 percentage points, registering 54.7 percent. "The Prices Index increased 4 percentage points from its August reading to 58 percent. "Comments from the panel reflect a mix of optimism over new orders beginning to pick up, and continued concern over soft global business conditions and an unsettled political environment.” Source: Institute for Supply Management |
• Preparing for I-9 audits: Commonly Asked I-9 Questions
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”I-9 audits are frightening because I-9s can become huge liabilities if your organization improperly completes, files, or administers them. “With the latest immigration crackdown under way, it's crucial for you to make your I-9 administration and E-verify processes run smoothly and in a legally safe way so you can stay in compliance. “Verifying employment eligibility is one of HR's most vital tasks in the hiring process.” Source: Business & Legal Resources |
01 October 2012
• USDOL Announces 2013 Labor Surplus Areas
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The annual list of labor surplus areas is
effective October 1, 2012, for all states, the District of Columbia,
and Puerto Rico.
A Labor Surplus Area (LSA) is a civil jurisdiction that has a civilian average annual unemployment rate during the previous two calendar years of 20 percent or more above the average annual civilian unemployment rate for all states during the same 24-month reference period. The Administrator for Federal Procurement Policy uses the LSA list to identify where procurement set asides should be emphasized to strengthen our nation's economy. Connecticut Labor Surplus Areas for 2013: Ansonia, Bloomfield, Bridgeport, East Hartford, Hartford, Killingly, Meriden, Naugatuck, New Britain, New Haven, New London, Waterbury, and West Haven. Source: USDOL-ETA |
• Wethersfield, CT: Drug Testing Breakfast Seminar
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”One of the most complicated topics facing employers these days ‐
the issue of drug testing in the workplace ‐ will be discussed in depth by employees from the
Connecticut Department of Labor’s Office of Program Policy and the Wage and Workplace
Standards Division during an Oct. 18 seminar being held in the agency’s Wethersfield Central Office.”
Further information: CTDOL |