Why the Class of 2015 May Actually Get Good Jobs
Not only are there more jobs available for 2015 college grads, there are more good jobs available to them, according to a new analysis by economists with the Federal Reserve Bank of New York.
The New York fed found that the underemployment rate for recent graduates—which had risen steadily with the exception of a fleeting dip in 2011—has finally started to fall. It has dropped about 2 percentage points since last June to 44.6.
That trend, coupled with a continued decline in unemployment for recent college grads, offers reason for hope for the class of 2015. Job postings for college graduates have increased by about 10 percent since last summer.
Related: The 10 Best Cities for New Grads to Launch their Careers
“While the demand for college graduates appears to be picking up, significant labor market slack remains,” write authors Jaison R. Abel and Richard Dietz. “So continued strong growth in the demand for college graduates may well be necessary to make a more serious dent in the underemployment rate.”
A separate study released last month by the National Association of Colleges and Employers found that employers expect to hire nearly 10 percent more new college graduates this year than last year.
The ease with which students can find jobs will depend not only on their major (those with degrees in engineering, business and computer science are the most in demand), but also on their location. A recent report by WalletHub ranking the nation’s largest cities from best to worst places to start a career found showed that cities in Texas and California have the most opportunities.
Increasing Number of Americans Delay Medical Care Due to Cost: Gallup
From Gallup: “A record 25% of Americans say they or a family member put off treatment for a serious medical condition in the past year because of the cost, up from 19% a year ago and the highest in Gallup's trend. Another 8% said they or a family member put off treatment for a less serious condition, bringing the total percentage of households delaying care due to costs to 33%, tying the high from 2014.”
Number of the Day: $213 Million
That’s how much the private debt collection program at the IRS collected in the 2019 fiscal year. In the black for the second year in a row, the program cleared nearly $148 million after commissions and administrative costs.
The controversial program, which empowers private firms to go after delinquent taxpayers, began in 2004 and ran for five years before the IRS ended it following a review. It was restarted in 2015 and ran at a loss for the next two years.
Senate Finance Chairman Chuck Grassley (R-IA), who played a central role in establishing the program, said Monday that the net proceeds are currently being used to hire 200 special compliance personnel at the IRS.
US Deficit Up 12% to $342 Billion for First Two Months of Fiscal 2020: CBO
The federal budget deficit for October and November was $342 billion, up $36 billion or 12% from the same period last year, the Congressional Budget Office estimated on Monday. Revenues were up 3% while outlays rose by 6%, CBO said.
Hospitals Sue to Protect Secret Prices
As expected, groups representing hospitals sued the Trump administration Wednesday to stop a new regulation would require them to make public the prices for services they negotiate with insurers. Claiming the rule “is unlawful, several times over,” the industry groups, which include the American Hospital Association, say the rule violates their First Amendment rights, among other issues.
"The burden of compliance with the rule is enormous, and way out of line with any projected benefits associated with the rule," the suit says. In response, a spokesperson for the Department of Health and Human Services said that hospitals “should be ashamed that they aren’t willing to provide American patients the cost of a service before they purchase it.”
See the lawsuit here, or read more at The New York Times.
A Decline in Medicaid and CHIP Enrollment
Between December 2017 and July 2019, enrollment in Medicaid and the Children's Health Insurance Program (CHIP) fell by 1.9 million, or 2.6%. The Kaiser Family Foundation provided an analysis of that drop Monday, saying that while some of it was likely caused by enrollees finding jobs that offer private insurance, a significant portion is related to enrollees losing health insurance of any kind. “Experiences in some states suggest that some eligible people may be losing coverage due to barriers maintaining coverage associated with renewal processes and periodic eligibility checks,” Kaiser said.
