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Job Outlook for 2015: Work Aplenty (Like it’s 1999)

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In this Thursday, Nov. 14, 2013, file photo, retired U.S. Army Sgt. 1st Class Duane Stubbs, right, of Morrow, Ga., shakes hands with retired U.S. Army 1st Sgt. Leland Smith, CEO of SolidHires, during a job fair for veterans at the VFW Post 2681, in Marietta, Ga. The Labor Department reports on the number of Americans who applied for unemployment benefits last week on Wednesday, Nov. 27, 2013. (AP Photo/David Goldman, File)

(AP Photo/David Goldman, File)

Paul Davidson, USA TODAY

 

(USA Today)—A strengthening labor market will not let up this year, economists say, with job growth approaching or exceeding the estimated 15-year high reached in 2014.

The stronger U.S. economy and increased employer confidence should continue to bolster job gains, and economists expect sluggish wage growth to finally accelerate, though they’re divided on how quickly that will happen.

Employers added 321,000 jobs in November, the most in nearly two years, and 2014 is on track to be the strongest for job growth since 1999. Economists expect a Labor Department report Friday to show that 230,000 jobs were added in December, according to median estimates, slightly below the 241,000 average for the first 11 months of the year.

 

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Newsom Admin Takes Steps to Stabilize California’s Troubled Insurance Market

As growing numbers of Insurance companies announce plans to exit California’s insurance market — or cancel customers’ policies — Gov. Gavin Newsom says his administration is taking steps to reverse the trend. Speaking during a news briefing on May 31, Newsom highlighted the plan, which was unveiled as part of a trailer bill on May 28.

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By California Black Media

As growing numbers of Insurance companies announce plans to exit California’s insurance market — or cancel customers’ policies — Gov. Gavin Newsom says his administration is taking steps to reverse the trend. Speaking during a news briefing on May 31, Newsom highlighted the plan, which was unveiled as part of a trailer bill on May 28.

Newsom said the proposal speeds up approvals for rate increases and addresses rising costs resulting from incidents like wildfires. Newsom said, under his plan, the Department of Insurance will be required to decide and respond to rate increase requests within 120 days. The plan also calls for streamlining the process for filing for increases; builds in two 330-deay extensions for finalizing rate changes; and provides room for insurers to appeal decisions.

“We need to stabilize this market,” Newsom said. “We need to send the right signals.

Proponents, mainly insurance industry representatives like the Personal Insurance Federation of California, are praising the Governor’s actions while consumer advocates warn that the plan is a threat to public intervention rights California’s Prop 103, a 1988 state law adopted to protect state residents from “arbitrary insurance rates and practices.”

Insurance Commissioner Ricardo Lara thanked Newsom for backing his office’s plan.

“To safeguard the integrity of the insurance market – composed of consumers, homeowners, and business owners – we must fix a system suffering from decades of deferral and delay,” said Lara in a statement. “This measure is one of several parts of a comprehensive plan to enact long-overdue regulatory reforms. The Legislature can do its part to support my reforms by giving this proposal a fair and full consideration, including public input. By enacting this important part of our strategy in statute, the Legislature can help us meet the urgency of the moment.

Lara is working on a longer-term strategy to shore up the insurance market that is expected to be released in December.

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Oakland Post: Week of June 5 – 11, 2024

The printed Weekly Edition of the Oakland Post: Week of June 5 – 11, 2024

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New Car Reviews and Important Auto News

Get reviews of the latest new press cars driven and we update you on the most recent auto news of interest. Join our panel of auto influencers.
The post New Car Reviews and Important Auto News first appeared on BlackPressUSA.

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