United States: Government Proposes Regulations On 90-Day Limit To Waiting Period For Health Insurance - Grant Thornton LLP
The IRS, the Department of Labor and the Department of Health and Human Services have issued proposed regulations to implement the 90-day waiting period limitation added to the Public Health Service Act by the Patient Protection and Affordable Care Act.
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Mondaq
Cold March Keeps Shoppers’ Spending Tepid
NEW YORK — So much for new spring shorts and T-shirts. As cold weather lingered across most of the country, Americans shopped modestly in March. U.S. retailers reported a key revenue figure rose slightly during the month, as shoppers held back on spending because of the cold weather across the nation, particularly the Midwest and East Coast, and continued fears about the economy. Economists monitor consumer spending because it accounts for more than 70 percent of economic activity. According to a preliminary tally of 15 retailers by the International Council of Shopping Centers, revenue in stores open at least a year rose 1.6 percent, or 2.5 percent excluding drugstores. That was below expectations, said Michael Niemira, chief economist at the ICSC. Weather was a factor, with March being the coldest in seven years. The comparison with last March was especially tough. Last year saw the warmest March on record, according to weather research firm Planalytics Inc. “Wintry weather conditions ...
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U.S. Economy Adds 88,000 Jobs, Rate Drops to 7.6%
(WASHINGTON) — U.S. employers added just 88,000 jobs in March, the fewest in nine months and a sharp retreat after a period of strong hiring. The slowdown is a reminder that the job market’s path back to full health will be uneven. The Labor Department said Friday that the unemployment rate dipped to 7.6 percent from 7.7 percent. While that is the lowest rate in four years, it fell last month only because more people stopped looking for work. The government counts people as unemployed only if they are actively looking for a job. The percentage of Americans working or looking for jobs fell to 63.3 percent in March, the lowest in nearly 34 years. The weakness in March may signal that some companies were worried last month about steep government spending cuts that began on March 1. (MORE: U.S. Unemployment Aid Applications Jump to 385,000) March’s job gains were half the pace of the previous six months, when the economy added an average of 196,000 jobs a month. The drop raises fears ...
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U.S. Companies Likely Kept Up Steady Hiring in March
(WASHINGTON) — The U.S. economy has enjoyed a four-month stretch of robust job gains, and on Friday the government will report whether that trend endured into March. Economists generally think it did. They predict that employers added a solid 195,000 jobs, according to a survey by FactSet. That’s a healthy gain, although below February’s 237,000 net jobs added. (VIDEO: Despite More Jobs, Vets Still Struggle to Sell Themselves) The unemployment rate is expected to remain at a four-year low of 7.7 percent. The Labor Department will release the report at 8:30 a.m. EDT Friday. Job gains have accelerated to an average of 205,000 per month from November through February. That’s nearly double the monthly gains from last spring. The forecast figure for March would continue that trend. Still, several subpar economic reports this week have signaled that the job market may have weakened last month. That could mean companies are worried about government spending cuts that began on March 1. Services ...
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Economy Gains Steam Adding 236,000 Jobs; Unemployment Rate Falls to 7.7%
For some time time now, the American economy has been a strange dichotomy. On the one hand, we’re in the midst of an historically strong four-year bull market, yet the unemployment rate remains stubbornly high. The real estate market is showing impressive strength, yet GDP growth is sluggish. The result is a situation where consumers, businesses, and even the government have become overly cautious, each waiting for the other to make the first move before they start behaving like we’re in a real recovery. Last month, however, the situation began to look a bit brighter. The Labor Department announced that the economy added 157,000 jobs in January, but revised its previous estimates to show that job growth in the later half of 2012 was much better than expected. And this morning’s report — which shows that the economy added 236,000 jobs in February, and that the unemployment rate fell to 7.7% — is more evidence that the thawing of the labor market has picked up speed of late. Looking ...
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