Economy
Health Care Benefits Major Issue for Contract Negotiations
Written by Sandy Williams
July 28, 2015
The United Steel Workers received an outline of a contract proposal from US Steel Corp. and found it riddled with concessions that the USW says would “erode decades of contractural improvements and benefits.”
Health benefits seem to be a consistent theme in labor negotiations this year. US Steel is seeking to increase the minimum annual deductible to $2600 with out of out-of-pocket maximums up to $13,100 per year for families.
The USW negotiating committee at Allegheny Technologies Inc. just said no to a vote on a company proposal that included health care premiums of $215/month with a $1000/year deductible and $6000/per year out of pocket maximum.
ArcelorMIttal wants to initiate monthly premium contributions for active employees of $150 for single coverage and $250 for families. Under the previous contract, union employees paid no premiums at all.
In a recent blog, ArcelorMittal USA CEO Andrew Harshaw noted that most employees in comparable sized companies pay a premium equal to 22 percent of cost of medical coverage.
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
Architecture billings flat in October after months of contraction
Architecture firms reported stable billings in October, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek. This follows 20 months of contracting business conditions.
Trump taps Lutnick to be Commerce Secretary
President-elect Donald Trump has named Wall Street veteran Howard Lutnick as the new US Secretary of Commerce.
New York state manufacturing activity ramps up to multi-year high
New York state’s manufacturing sector saw substantial recovery in November, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York.
CRU: Dollar and bond yields rise, metal prices fall as Trump wins election
Donald Trump has won the US presidential election. The Republican party has re-taken control of the Senate. Votes are still being counted in many tight congressional races. But based on results so far, the Republicans seem likely to maintain control of the House of Representatives. If confirmed, this will give Trump considerable scope to pass legislation pursuing his agenda. What this means for US policy is not immediately obvious. Trump will not be inaugurated until Jan. 20. In the coming weeks and months, he will begin to assemble his cabinet, which may give a clearer signal on his policy priorities and approaches. Based on statements he made during the presidential campaign, we have set out the likely direction of his economic policy here and green policy here.
ISM: Manufacturing index fell in Oct to lowest point of ’24
Domestic manufacturing contracted for the seventh straight month in October, according to the latest report from the Institute for Supply Management (ISM). This marks the 23rd time in the last 24 months that it has been in contraction.