Tag Archives: United States Department of Labor

ACA Provision Kicked Back to 2015

English: Barack Obama signing the Patient Prot...

English: Barack Obama signing the Patient Protection and Affordable Care Act at the White House (Photo credit: Wikipedia)

The Obama administration has delayed until 2015 a consumer protection provision of the Affordable Care Act (ACA) that limits how much people have to spend on their own health care.

The limit on out-of-pocket costs was $6,350 for an individual and $12,700 for a family, but federal officials have granted a one-year grace period to insurers, allowing them to set higher limits. Some health plans will not be required to impose any limit at all.

The grace period, which has been outlined on the Labor Department‘s Web site since February, allows employers and health insurance companies time to upgrade their computer systems to comply with the ACA.

Advocates for people with chronic illnesses are dismayed by the policy decision. For people with illnesses like cancer and multiple sclerosis, out-of-pocket costs can be tens of thousands of dollars a year.

 “In the United States of America, no one should go broke because they get sick,” President Obama told a joint session of Congress in September 2009.

Via NYT.

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Filed under Health, Politics, Sick Sad World

227,000 Jobs Added in February

U.S. employers continued the stronger pace of hiring last month.

Employers added 227,000 jobs in February, the U.S. Labor Department reported Friday. Meanwhile, the unemployment rate remained at 8.3%.

Economists surveyed earlier by CNNMoney had predicted that 210,000 jobs would be added in the month.

In the last year, the economy has gained about 2 million jobs but still needs about 5.6 million more jobs to return to 2008 levels.

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Filed under Economy, National

Stock Market Pops in Light of January Jobs Report

U.S. stocks rallied as investors cheered a stronger-than-expected jobs report, with the Dow ending at its highest point since 2008.

The Nasdaq reached levels not seen since 2000, increasing forty-six points on Friday, or 1.6%. The S&P 500 added nineteen points for the day, up 2.1% for the week.

The rally was sparked by the Labor Department‘s monthly jobs report, which showed that the economy added 243,000 jobs in January. The unemployment rate dropped to 8.3%.

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Unemployment Falls for Fifth Month in a Row

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U.S. employers stepped up their hiring in January, bringing the unemployment rate down for the fifth month in a row.

Employers added 243,000 jobs in January, marking a pick-up in hiring from December, when the economy added 203,000 jobs. The unemployment rate fell to 8.3% from 8.5%.

The report was stronger than economists had expected.

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Unemployment Rate Falls to 8.5%

U.S. employers stepped up hiring last month. Employers added 200,000 jobs in December, up from 100,000 jobs the previous month, the U.S. Labor Department reported Friday.

Meanwhile, the unemployment rate fell from 8.7% in November to 8.5% in December.

The public sector, which bled jobs most of 2011, continued to lag. Overall, 12,000 government jobs were lost last month.

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U.S. Economy Gained More Jobs in September Than Expected

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The United States economy gained more jobs in September than most economists had expected.

The Labor Department reported Friday that employers added 103,000 jobs in the month, although Verizon workers returning from a strike represented 45,000 of those gains.

In addition, after initially reporting no change in the number of workers for August, the figures for that month were revised to a gain of 57,000 jobs.

The September unemployment rate held steady at 9.1%.

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54,000 New Jobs Added in May, But Unemployment Increases

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On Friday, the Labor Department reported that the nation added 54,000 jobs last month. The previous three months saw an increase of about 220,000 jobs each.

The unemployment rate increased to 9.1% from 9%.

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Filed under Business, National