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Archive for July, 2016

Are benefit adjustments affecting Vegas jobs?

Friday, July 8th, 2016

Employers are adjusting benefits that may affect Vegas jobs.

The 2016 ADP® Health Benefits Report shows that employer-provided healthcare plans in the large employer market are stable, and employers are effectively adjusting to changes mandated by the Affordable Care Act (ACA). Changes in costs have been modest, and shifting demographics in the workforce are keeping overall growth of cost per employee lower than in the past.

The data analyzed from 2014 to 2016 reflects stability in the way employer-sponsored benefits at large organizations are offered and consumed.

Key findings of the 2016 ADP Annual Health Benefits Report include:

Premiums rising at a modest rate each year
Total health premium cost per employee rose 5.0% from 2014 to 2016. This moderate cost trend is likely due to focused cost management on the part of employers, including the use of self-funding, high deductible health plans, employee health and wellness programs, and resources to assist with provider selection.

Premiums and increases vary by industry
Over the period studied, the largest increase occurred in Health Care and Social Assistance at 10.2 percent. Manufacturing had the lowest increase at 2.1 percent, but also the second highest total monthly premium in 2016, at $949. Retail Trade had the lowest monthly premium at $719. Demographic composition of employees and variations in industry benefit practices may explain some of these differences.

Plan costs directly tied to compensation
Health premiums correlated directly with employee earnings. Lower income workers tended to have lower premiums, and higher income workers tended to have higher premiums. But when premiums are adjusted to account for dependents covered, premium costs tend to be similar for employees across all income levels. The key insight is that income is highly correlated with number of covered dependents, resulting in the higher premiums. Employer contributions to health premium costs also decreased slightly as income rose.

“Another trend is that the workforce is getting younger, helping to keep overall growth of cost-per-employee lower than in the past,” added Ryan. “While cost per covered life has increased, employees are more likely to be unmarried and have fewer dependents. The annual cost per employee increase of only 5.0% from 2014 to 2016 is the result of this trend.”

Helping seniors get Vegas jobs

Friday, July 8th, 2016

A new round of grants will hopefully go towards low-income seniors looking for Vegas jobs.

The U.S. Department of Labor announced the re-opening of a $338 million grant competition for national organizations to provide critical job training and related services to low-income, older American workers through the Senior Community Service Employment ProgramThe 30-day extension will help ensure adequate coverage of the necessary geographic areas and associated participant slots.

 

“The funds announced today will provide important opportunities for low-income seniors across the country to access jobs that benefit themselves and their communities,” said U.S. Secretary of Labor Thomas E. Perez. “These grants support our mission to help every American who wants to work find a job that can contribute to economic stability.”

The department anticipates funding between 10-22 grants that will serve more than 53,000 older Americans per year, with award amounts expected to range between $2 million and $50 million.

The SCSEP fosters economic self-sufficiency, provides career skills training, and promotes useful part-time employment through community service assignments for unemployed, low-income individuals aged 55 years or older who have poor employment prospects. The program provides older workers with access to comprehensive services such as orientations, community service assignments, occupational, work skills and aptitude assessments, skills training, free physical examinations, an assessment of needs based supportive services and job search assistance. Additionally, SCSEP participants can receive employment assistance through the American Job Centers.

SCSEP national, state and territorial grantees spend more than 35 million hours per year working in community service assignments at public agencies and non-profit organizations while simultaneously developing crucial job skills that foster self-sufficiency.

Approximately $338 million in grants are available for national grantees in Program Year 2016. The total SCSEP appropriation is approximately $434 million; the remaining approximately $96 million will be awarded to state and territorial grantees based on a statutory formula, and will cover program administration.

Forking over cash for Vegas jobs

Sunday, July 3rd, 2016

How much is too much when it comes to spending money based on Vegas jobs? That’s what a Careerbuilder survey is attempting to answer.

According to a new survey, the average amount of money people spend to go to work each month is $276, or around $3,300 per year. Similarly, when it comes to searching for a new job, beyond dedication and determination, for many finding a new position requires a financial investment. 1 in 5 workers (19 percent) said it cost them money just to find a job. Of these workers, (27 percent) said it cost them $200 or more.

Breaking Down Every Day Expenses

Driving

The majority of workers (84 percent) typically commute to work by driving. Thirty-seven percent of these employees spend $25 or more a week on gas, while the majority (63 percent) spend less than $25 on gas a week:

Less than $10: 17 percent

$10 to less than $25: 47 percent

$25 to less than $50: 30 percent

$50 or more: 7 percent

Public Transportation

Of those that take public transportation (7 percent), nearly half (47 percent) spend $25 or more on fare per week:

Less than $10: 19 percent

$10 to less than $25: 34 percent

$25 to less than $50: 33 percent

$50 or more: 14 percent

Clothing, Shoes and Accessories

When asked how much they spend on clothing, shoes and accessories for work in a given year, nearly half (47 percent) spend $250 or more; nearly 1 in 4 (24 percent) spend $500 or more; and more than 1 in 10 employees (13 percent) spend $750 or more:

Less than $250: 53 percent

$250 to $499: 24 percent

$500 to $749: 11 percent

$750 to $999: 5 percent

$1,000 to $1,499: 4 percent

$1,500 to $1,999: 1 percent

$2,000 or more: 2 percent

Paying to Get Paid

Slightly more than 8 in 10 workers (81 percent) say they did not incur any costs the last time they looked for a new job; but, of those who did incur costs, many (27 percent) have had to spend $200 or more to purchase items, including:

Clothing: 68 percent

Transportation: 49 percent

Printing (resumes, cover letters, etc.): 44 percent

Travel: 40 percent

Networking events: 7 percent

Computer hardware/software: 6 percent

Recruiters: 5 percent

When asked what they spent the most money on during their job search, most employees who incurred costs said clothes, followed by transportation and travel:

Clothing: 39 percent

Transportation: 22 percent

Travel: 21 percent

Printing (resumes, cover letters, etc.): 7 percent

Recruiters: 1 percent

Computer hardware/software: 1 percent

Networking events: Less than 1 percent