employers Archives - The Connecticut Star

Job Cuts Soar as Employers Look for Ways to Lower Costs

February 2, 2024February 1, 2024 Connecticut Star Staff

The number of job cuts by American employers surged in January as companies looked to lower operating costs to adjust to harsh economic conditions, according to outplacement firm Challenger, Gray and Christmas, Inc.

The number of positions cut by employers in January jumped 136%, with 82,307 positions cut compared to the 34,817 cut in December, according to a report from Challenger, Gray and Christmas. The job cuts come amid a wider U.S. layoff trend due to broader economic struggles, like inflation and adjustments from automation.

Biden Admin Releases New Labor Rule Cracking Down on Independent Contractors

January 10, 2024 Connecticut Star Staff

The Department of Labor announced Tuesday the final version of a rule that will force companies to recognize some workers as employees instead of independent contractors.

The new rule goes into effect on March 11 and rescinds a previous rule establishing independent contractors as a separate class of workers under the Fair Labor Standards Act that was put in place in January 2021 under the Trump administration, according to the DOL release. The rule could raise labor costs by up to 30% for employers who utilize independent contractors, such as app-based services like Uber or Lyft, which offer a freelancing model, as employers would have to adhere to minimum wage and overtime laws, according to Reuters.

Proposed Federal Regulation Could Force Employers to Pay for Time Off for Abortions

August 27, 2023August 26, 2023 Connecticut Star Staff

A new proposal from the Equal Employment Opportunity Commission (EEOC) could require paid time off for women to get abortions and may even require employers to pay for travel related to the procedure, experts told the Daily Caller News Foundation.

The EEOC proposed new guidelines in August to enforce the Pregnant Workers Fairness Act (PWFA) that was signed into law in December 2022, with the new guidelines classifying abortion as a related medical condition, according to the proposal from the EEOC. While the rule can’t require employers to pay directly for an abortion, the classification could open the door for employers to be required to give paid time off for an abortion and possibly even for employers to pay for travel expenses if the woman’s state does not permit an abortion, experts told the DCNF.

Economist: 30 Percent Chance That U.S. Enters a Recession Within a Year’s Time

July 20, 2022July 19, 2022 The Center Square

A Goldman Sachs economist says there is a 30% probability of the U.S. entering a recession within one year and 48% within two years.

Goldman Sachs Chief U.S. economist David Mericle outlined the probability of a recession at an event Tuesday and said that the likelihood of a recession would decrease if the U.S. had not entered one within two years.

Increasing Healthcare Costs Put Connecticut Employers in Difficult Position

May 24, 2022May 24, 2022 The Center Square

As the cost for health benefits rises in Connecticut, businesses and nonprofits are evaluating budgets to determine how much they can contribute to benefits for employees.

“Consider how much the cost of health care in America degrades our competitive position – businesses and taxpayers in no other country must bear this huge cost; it puts America at a 7-10% cost disadvantage relative to other countries,” Fred Carstensen, director of Connecticut Center for Economic Analysis at the University of Connecticut, told The Center Square. “And at the same time, the average health of Americans (and life expectancy) is poorer than in most other developed countries – making us less productive. The costs we impose on ourselves with this health care system are seemingly endless.”

Proposal Would Let Connecticut Agencies Sue Employers and Bestow Proceeds on Unions

March 7, 2022March 6, 2022 Bradley Vasoli

A bill in the Connecticut House of Representatives would allow the state to effectively nullify worker-employer agreements designed to prevent lawsuits and let state officials bestow some monetary awards on unions.

The legislation, sponsored by State Representative Michael Winkler (D-Vernon), would evade what it refers to as “forced arbitration agreements” and “allow employees to sue employers on behalf of the state after having waived their personal rights to sue.”