Tuesday, October 6, 2015

Obamacare Not Spurring More Early Retirements Yet Despite Predictions

By Mark Miller

CHICAGO (Reuters) – The Affordable Care Act is doing plenty of good for older Americans, but one thing it is not doing is convincing them to retire early.

One prediction of the impact of the healthcare law, commonly known as Obamacare, was that the ACA would end “job lock” – the phenomenon of workers hanging onto jobs just for the health insurance while waiting to become eligible for Medicare at age 65.

Instead, the ACA’s guaranteed issue of insurance would let them leave the world of full-time work for more flexible self-employment, start businesses or launch encore careers – or just retire.…

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U.S. Job Growth Stumbles, Raising Doubts On Economy

By Jason Lange

WASHINGTON (Reuters) — U.S. employers slammed the brakes on hiring over the last two months, raising new doubts the economy is strong enough for the Federal Reserve to raise interest rates by the end of this year.

Payrolls outside of farming rose by 142,000 last month and August figures were revised sharply lower to show only 136,000 jobs added that month, the Labor Department said on Friday.

That marked the smallest two-month gain in employment in over a year and could fuel fears that the China-led global economic slowdown is sapping America’s strength.

“You can’t throw lipstick on this pig of a report,” said Brian Jacobsen, a portfolio strategist at Wells Fargo Funds Management in Menomonee Falls, Wisconsin.…

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Volkswagen To Refit Cars Affected By Emissions Scandal

By Andreas Cremer

BERLIN (Reuters) — Volkswagen announced plans on Tuesday to refit up to 11 million vehicles and overhaul its namesake brand following the scandal over its rigging of emissions tests.

New Chief Executive Matthias Mueller said the German carmaker would tell customers in the coming days they would need to have diesel vehicles with illegal software refitted, a move which some analysts have said could cost more than $6.5 billion.

Europe’s biggest carmaker has admitted cheating in diesel emissions tests in the United States and Germany’s transport minister says it also manipulated them in Europe, where Volkswagen sells about 40 percent of its vehicles.…

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