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How The GOP’s Health Plan Shifts The Burden To Family Caregivers
Social Security Disability

How The GOP’s Health Plan Shifts The Burden To Family Caregivers

Many aspects of the Obamacare repeal uniquely target older Americans.
In order to qualify for Medicaid, the patient must spend down his or her assets to just this side of zero, and then contribute whatever income they have, like Social Security, to the nursing home for payment.
Medicaid is the primary support for 65 percent of nursing home residents, most of whom enter as private pay patients until they run out of money.
Everyone who was eligible and qualified for Medicaid ― senior, adult or kid ― was guaranteed by the federal government to get it.
It doesn’t take a crystal ball to predict where this would lead: More older people who can’t afford assisted living or nursing homes would turn to their families for help.
Well, consider this: Most caregivers today are walking on thin ice without so much as legal protection from getting fired if they miss too much work.
The unpaid services provided by America’s family caregivers were valued at $500 billion in 2014, according to a Rand report.
The federal Family and Medical Leave Act doesn’t cover 40 percent of the nation’s workforce.
Meanwhile, family caregivers tend to ignore their own health because they are too busy caring for a loved one.
Last year, the National Academies of Science, Engineering, and Medicine took a sobering look at the state of family caregiving in the U.S., and found that caregivers of elderly family members devoted 253 hours a month to the task — almost the equivalent of two full-time jobs.

Your 2016 Guide to Social Security Disability Benefits
Social Security Disability

Your 2016 Guide to Social Security Disability Benefits

Your 2016 Guide to Social Security Disability Benefits.
It’s worth learning more about it, though, because Social Security offers much more than just retirement benefits.
If you’re disabled, for example, you may qualify for benefits and may want to learn how to submit an application.
There are two Social Security programs that offer benefits to the disabled: the Social Security Disability Insurance (SSDI) program and the Supplemental Security Income (SSI).
It can be received by folks who are also receiving Social Security retirement benefits or SSDI benefits.
SSDI, in a nutshell The Social Security Disability Insurance program provides benefits to disabled people who have worked enough to qualify as “insured.”
For starters, they will need to have a medical condition that prevents them from working and that’s long-term, expected to last at least a year or to lead to death.
How much might you receive in benefits if you qualify?
Here are some specific things the Social Security Administration considers as it reviews your application: Whether you’re currently working, and if you are, how much you’re earning: The limits change every year or so.
Many people can simply apply online.

Tax Evasion Hurting Social Security Trust Funds
Social Security Disability

Tax Evasion Hurting Social Security Trust Funds

Tax Evasion Hurting Social Security Trust Funds.
From the Center on Budget and Policy Priorities (CBPP): “Egregious employment tax noncompliance” by employers has risen substantially in recent years while the IRS’s ability to recover the lost revenues and investigate fraud and embezzlement has fallen, a report by the Treasury Inspector General for Tax Administration (TIGTA) finds.
More than 1 million employers owed over $45 billion in unpaid employment taxes as of December 2015, including interest and penalties.
The report provides further evidence that the deep cuts to IRS funding since 2010 have weakened the agency’s ability to perform its core functions of collecting taxes and enforcing the nation’s tax laws.
This type of employer tax evasion is particularly harmful; it not only reduces federal revenues but it also hurts workers because employers often don’t report their earnings to the IRS and Social Security Administration.
That makes it hard for employees and their families to claim the benefits they’ve earned when they retire, become disabled, or die and leave dependents behind.

The “employment tax” they’re talking about is F.I.C.A., the tax that goes to the Social Security trust funds.

Poll: Ex-cons more anxious than most about retirement funds
Social Security Disability

Poll: Ex-cons more anxious than most about retirement funds

A new survey by The Associated Press-NORC Center for Public Affairs Research found that 69 percent of older Americans who reported having been incarcerated felt anxious about the amount of money they have saved for retirement, compared with 52 percent of those who didn’t serve time.
Mark Mitchell, who works for a program on the south side of Chicago helping former felons find work, said ex-cons have trouble finding jobs that pay well and let them contribute to a retirement. “So if they’re not retiring, if they don’t have a retirement, who’s going to take care of them — the state?”
Rodriguez found temporary work in a factory in Chicago’s suburbs a few months after being released in 2016.
The survey found that 56 percent of older workers who had served time in prison had been unemployed in the past five years, compared to 17 percent of those who had not.
It’s hard to get work because of my background. “It’s hard to get a job with a felony.
A third of survey respondents who were incarcerated said they lost a job as a result. “To be honest, I never thought I would live this long,” said Mitchell, who has 13 felony convictions for drug and gun charges.
The survey was conducted Feb. 14 through March 13 by The Associated Press-NORC Center for Public Affairs Research with funding from the Alfred P. Sloan Foundation.

US jobs report: 5 things to know

US jobs report: 5 things to know

US jobs report: 5 things to know.
Jobs set to bounce back in April Economists surveyed by CNNMoney predict the US economy added 190,000 jobs in April, which would be far better than the 98,000 jobs added in March.
The figure for March will be revised on Friday.
Wage growth is expected to post a solid 2.6% gain.
Trump jobs under the microscope President Trump has taken credit for adding as many as 600,000 jobs, and the White House has dialed that back to 533,000 jobs.
Counting those two months, the economy has added 317,000 jobs during his tenure.
April will be Trump’s third jobs report.
They’ve added 37,000 manufacturing jobs in Trump’s first two reports.
Friday’s report will show if the momentum has continued.
Growth has been slow but consistent for the last eight years.

How the economy is really doing

How the economy is really doing

Will the US economy perk up under President Trump?
That is clearly good news for Trump.
Even the so-called underemployment rate, a number some consider the “real” unemployment rate since it includes people working part-time that want a full-time job, fell to 8.9% in March.
The Fed said that consumer credit rose 4.8% annually in February (the most recent figures available) to $3.79 trillion.
Demand for these loans have fallen for two straight months and are down from a recent peak of $2.1 trillion in November.
It’s not a cause for alarm just yet, but if businesses stop borrowing to finance growth and subsequently hire less as a result, that could be a problem for Trump.
Consumer spending makes up a majority of the nation’s overall economic activity.
The government said in April that retail sales fell 0.2% in March, following a 0.3% decline in February.
The US trade deficit has narrowed only slightly in the past few months — and the gap has widened with China and Mexico.
And the overall trade deficit is still significant — $43.7 trillion.

Taken for a rideSaudi women are a captive market for Uber and Careem

Taken for a rideSaudi women are a captive market for Uber and Careem

Taken for a rideSaudi women are a captive market for Uber and Careem.
NASHMIAH Alenzy, a doctor in Saudi Arabia’s conservative Qassim region, uses ride-hailing apps at least two or three times a week, and sometimes every day, to get to work or to run errands.
Barred from driving in a country with non-existent public transport, Saudi women are a profitable prospect for ride-hailing companies.
Careem, a firm valued at $1bn that is based in Dubai and operates across the Middle East, north Africa and South Asia, set up shop in 2013.
Uber followed in 2014.
Both firms are directly backed by the Saudi state.
Both help (male) participation in the gig economy, in line with an aim to push more Saudis into the private sector, which is currently dominated by expatriates.
Around two-thirds of those in work are employed in the cushy public sector.
Ride-hailing services also help with the government’s stated aim of boosting women’s labour-market activity.
The state ensures that women are dependent on men to get around, says Hatoon al Fassi, an academic, and is now profiting from that dependence.

Jobs Report: This Is What Full Employment Looks Like

Jobs Report: This Is What Full Employment Looks Like

Jobs Report: This Is What Full Employment Looks Like.
But the string of disappointments is likely to come to a halt in the Labor Department’s April jobs report.
That marked only the sixth time in the past five years in which fewer than 100,000 net jobs were added in a given month.
For instance, only 43,000 jobs were added last May, at the time fanning fears of a hiring slowdown.
Similar trends followed disappointing monthly reports for March 2015 and December 2013.
The last time fewer than 100,000 jobs were added in back-to-back months was six-and-a-half years ago, early in the recovery.
And LinkedIn’s own employment report showed April was the best month for hiring since June 2015.
In 2014, the economy added an average of 250,000 jobs a month.
That average slipped to 226,000 in 2015, 187,000 last year and 178,000 through the first three months of this year.
If the first-quarter average of 178,000 monthly gains is maintained over the next 12 months, the unemployment rate would fall to 4.1%, the lowest since December 2000.

BOND REPORT: 10-year Treasury Yield Hit A 3-week High

BOND REPORT: 10-year Treasury Yield Hit A 3-week High

BOND REPORT: 10-year Treasury Yield Hit A 3-week High.
Congress passes to repeal-and-replace Obamacare Treasury prices fell Thursday, allowing yields to extend their rise to two days, ahead of a closely watched reading of employment set to be released Friday.
The yield on the 10-year note moved up 4.5 basis points to 2.354%, the highest level since April 10, according to Dow Jones data.
The yield rise comes after the Federal Reserve’s policy-setting committee on Wednesday signaled plans to lift rates at least twice more in 2017 were undeterred by a spate of weak economic reports.
Traders said investors continue to sell government paper 24 hours after the Fed’s decision to keep rates unchanged, while reaffirming its intention to normalize monetary policy, including lifting rates off ultralow levels and shrinking its $4.5 trillion balance sheet.
The market will be intently anticipating a reading of the health of U.S. employment, when the Labor Department releases its nonfarm-payrolls report early Friday.
Particular attention will be paid to wage growth, which traders look at to gauge inflation expectations.
A reading of initial-jobless claims, a measure of how many new individuals file to receive state unemployment benefits, released on Thursday slipped 19,000 to notch 238,000 claims (http://www.marketwatch.com/story/us-jobless-claims-fall-sharply-in-latest-week-2017-05-04) for the week ended April 29, suggesting the job market remains strong.
Treasury yields continued their ascent after the spate of data releases.
The spread between the two sovereign bonds narrowed 5 basis points, also underscoring fading fears a Le Pen win.

Here’s your full preview of Friday’s jobs report

Here’s your full preview of Friday’s jobs report

Here’s your full preview of Friday’s jobs report.
Via Bloomberg, here’s what Wall Street is expecting for April: Nonfarm payrolls: +190,000 Unemployment rate: 4.6% Average hourly earnings month-on-month: +0.3% Average hourly earnings year-on-year: +2.7% Average weekly hours worked: 34.4 To recap, the economy added 98,000 jobs in March and the unemployment rate fell to a postcrisis low of 4.5%.
That’s likely part of what prompted the Federal Reserve to conclude in its meeting this week that the underlying drivers of consumption are “solid,” and first-quarter weakness was “transitory.”
The Fed will have the April and May jobs reports on hand before its meeting next month at which markets expect it will raise interest rates. “One group that has been rejoining the labor force is prime age (ages 25-54) men and women without a college degree,” said Nomura’s Lewis Alexander in a note.
The gain since then is small compared to the post-recession drop, but could be a reason why participation may not fall in the coming months, Alexander said.
Weather aside, retail lost nearly 30,000 jobs and the vast majority were in large department stores.
Several of them are shutting down or at risk of closing as ecommerce booms.
The job losses in February and March marked the worst two-month decline since November and December 2009, and is showing scant signs of slowing down.
More: Jobs Report