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☆ Here's why Social Security cost-of-living adjustments may be smaller in 2025 and beyond
▼ + stars: | 2024-03-15 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

Peopleimages | Istock | Getty ImagesEarly estimates for the 2025 Social Security COLANew government data points to a 2.4% Social Security cost-of-living adjustment for 2025, The Senior Citizens League estimates, based on new government inflation data released this week. The Social Security Administration typically announces the cost-of-living adjustment for the following year in October. In the meantime, experts say there are steps retirees can take to help compensate for the prospect of lower benefit increases. Annuities, which provide fixed income in retirement in exchange for a lump-sum investment, can be one way to supplement a retiree's income, LaVigne said. Consult with a financial advisorBefore purchasing an annuity or other retirement income strategy, it helps to consult with a professional.

Persons: " Johnson, Johnson, Lisa Featherngill, Featherngill, Kelly LaVigne, You've, LaVigne Organizations: Istock, Getty, Security COLA, Social Security, Senior Citizens League, Urban, Clerical Workers, CPI, Comerica Wealth Management, Social, Allianz Life Locations: Winston, Salem , North Carolina

Oct 13 (Reuters) - A union coalition for Kaiser Permanente healthcare workers reached a tentative labor deal with the hospital system on Friday that included across-the-board wage increases after 75,000 members took part in a three-day strike last week. The strike was the largest recorded among medical workers and included nurses, medical technicians and support staff at hundreds of Kaiser hospitals and clinics from California to Virginia. "I’m heartened to see healthcare workers and their employers take this critical step towards securing the pay, benefits, and working conditions these heroes deserve," President Joe Biden said in a statement. The Kaiser union coalition had threatened to strike again for a week starting Nov. 1. The union had said Kaiser would need to hire 10,000 new healthcare workers to fill current vacancies.

Persons: Julie Su, Biden, Joe Biden, Kaiser, Su, Manas Mishra, Leroy Leo, Steve Gorman, Arun Koyyur, Shinjini, Maju Samuel, Jonathan Oatis Organizations: Kaiser Permanente, Labor, Tenet Healthcare, District of Columbia, Writers Guild of America, United Auto Workers, Detroit, Thomson Locations: California, Virginia, San Francisco Bay, Bengaluru, Los Angeles

Oct 13 (Reuters) - Kaiser Permanente's frontline healthcare workers union reached a tentative deal with the company on Friday, moving toward settling a payment and staffing dispute that had sparked the largest recorded strike in the U.S. medical sector. The strike by 75,000 workers last week had put Kaiser at the forefront of a growing labor unrest in the healthcare industry, including among employees of pharmacies and other hospital chains like Tenet Healthcare (THC.N). "What they've achieved here in Oakland (San Francisco Bay Area) is great news for frontline workers, for Kaiser and the patients in their collective care," Su said. Spokespersons for Kaiser Permanente and its coalition of healthcare workers unions said they would provide further details on the agreement later in the day. Kaiser is one of the largest U.S. medical employers with 24,000 doctors, 68,000 nurses, 213,000 technicians, clerical workers and administrative staff.

Persons: Kaiser, Julie Su, Su, Kaiser Permanente, Manas Mishra, Leroy Leo, Steve Gorman, Shounak Dasgupta, Sriraj Kalluvila, Arun Koyyur Organizations: Tenet Healthcare, Labor, Kaiser Permanente, District of Columbia, United Auto Workers, Detroit, U.S . Bureau of Labor Statistics, Thomson Locations: U.S, San Francisco Bay, Oakland, Bengaluru, Los Angeles

☆ Social Security cost-of-living adjustment will be 3.2% in 2024, well below this year's record-setting increase
▼ + stars: | 2023-10-12 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Jozef Polc / 500Px | 500Px Plus | Getty ImagesSocial Security beneficiaries will see a 3.2% boost to their benefits in 2024, the Social Security Administration announced on Thursday. The annual cost-of-living adjustment for 2024 will affect more than 71 million Social Security and Supplemental Security Income beneficiaries. Typically, Medicare Part B premium payments are deducted from Social Security checks. How the 2024 COLA comparesThe 2024 benefit increase is much lower than record 8.7% cost-of-living adjustment Social Security beneficiaries saw this year, the biggest boost in four decades in response to record high inflation. Older Americans 'still feeling the sting' of inflationThe 2024 adjustment comes as many retirees are still struggling with higher prices.

Persons: Jozef Polc, Jo Ann Jenkins, Jenkins, Tracey Gronniger, Gronniger Organizations: Social, Social Security Administration, Social Security, Senior Citizens League, Consumer, Urban, Clerical Workers, AARP, Justice, COLA, Security

☆ Strike by 75,000 Kaiser Permanente healthcare workers enters third day
▼ + stars: | 2023-10-06 | by ( Steve Gorman | ) www.reuters.com time to read: +6 min

Healthcare workers strike in front of Kaiser Permanente Los Angeles Medical Center, as more than 75,000 Kaiser Permanente healthcare workers go on strike from October 4 to 7 across the United States, in Los Angeles, California, U.S. October 4, 2023. Kaiser has said its hospitals and emergency departments have remained open despite the walkout, staffed by doctors, managers and "contingency workers." In any case, Lucas said the striking workers will all return to their jobs by 6 a.m. on Saturday, 72 hours after the strike began, because healthcare workers by law must give advance notice of 10 days of any intent to go on strike. However, the union on Friday warned of another strike if "Kaiser executives continue to commit unfair labor practices and bargain in bad faith." The Kaiser strike has idled more than 75,000 employees, union officials said.

Persons: Kaiser, Julie Su, Caroline Lucas, Lucas, Steve Gorman, Ahmed Aboulenein, Bhanvi, Bill Berkrot, Robert Birsel, Anil D'Silva Organizations: Kaiser Permanente Los Angeles Medical Center, Permanente, REUTERS, Kaiser Permanente, District of Columbia, Labor, Coalition, Kaiser Permanente Unions, Kaiser, Union, Unions, U.S . Bureau of Labor Statistics, Washington D.C, Thomson Locations: United States, Los Angeles , California, U.S, Kaiser, California , Oregon, Washington, , Colorado, Virginia, California, Las Vegas, California , Colorado , Oregon, Hawaii , Georgia, Los Angeles, Bengaluru

[1/7] Healthcare workers strike in front of Kaiser Permanente Los Angeles Medical Center, as more than 75,000 Kaiser Permanente healthcare workers go on strike from October 4 to 7 across the United States, in Los Angeles, California, U.S. October 4, 2023. Kaiser said its hospitals and emergency departments remained open, staffed by doctors, managers and "contingency workers." They are represented by the SEIU United Healthcare Workers West. The Kaiser labor coalition, made up of eight unions representing medical professionals and support staff, insists the company needs to hire 10,000 new healthcare workers to fill current vacancies. Kaiser nationwide employs 68,000 nurses and 213,000 technicians, clerical workers, and administrative staff, alongside its 24,000 doctors.

Persons: Kaiser, Christina Andersen, Michael LeRoy, Ahmed Aboulenein, Bhanvi Satija, Bill Berkrot Organizations: Healthcare, Kaiser Permanente Los Angeles Medical Center, Permanente, REUTERS, Rights, Kaiser Permanente, U.S . Bureau of Labor Statistics, District Columbia, Kaiser, Labor, Tenet Healthcare, SEIU United Healthcare Workers, SEIU, University of Illinois, D.C, Thomson Locations: United States, Los Angeles , California, U.S, Kaiser, California , Oregon, Washington , Colorado, Virginia, Claremont , California, California, Los Angeles, Las Vegas, University of Illinois Urbana, Champaign, Washington, California , Colorado , Oregon

[1/7] Healthcare workers strike in front of Kaiser Permanente Los Angeles Medical Center, as more than 75,000 Kaiser Permanente healthcare workers go on strike from October 4 to 7 across the United States, in Los Angeles, California, U.S. October 4, 2023. "After six months of bargaining with the Coalition of Kaiser Permanente Unions, including a marathon effort that went through last night and into today, our bargaining sessions unfortunately ended without a settlement," Kaiser said. They are represented by the SEIU United Healthcare Workers West. The Kaiser labor coalition, made up of eight unions representing medical professionals and support staff, insists the company needs to hire 10,000 new healthcare workers to fill current vacancies. Kaiser nationwide employs 68,000 nurses and 213,000 technicians, clerical workers, and administrative staff, alongside its 24,000 doctors.

Persons: Kaiser, Christina Andersen, Michael LeRoy, Ahmed Aboulenein, Bhanvi Satija, Bill Berkrot, Navaratnam 私 Organizations: Healthcare, Kaiser Permanente Los Angeles Medical Center, Permanente, REUTERS, Rights, Kaiser Permanente, Reuters, Coalition, Kaiser Permanente Unions, U.S . Bureau of Labor Statistics, District Columbia, Kaiser, Labor, Tenet Healthcare, SEIU United Healthcare Workers, SEIU, University of Illinois, D.C Locations: United States, Los Angeles , California, U.S, California , Oregon, Washington , Colorado, Virginia, Claremont , California, California, Los Angeles, Las Vegas, University of Illinois Urbana, Champaign, Washington, California , Colorado , Oregon

Healthcare workers strike in front of Kaiser Permanente Los Angeles Medical Center, as more than 75,000 Kaiser Permanente healthcare workers go on strike from October 4 to 7 across the United States, in Los Angeles, California, U.S. October 4, 2023. WHAT ARE KAISER WORKERS' DEMANDS AND WHAT IS THE COMPANY OFFERING? Some of the key demands by the workers include higher pay to keep up with the cost of living, a $25-per-hour minimum wage for all healthcare workers, and a reformed bonus structure. The union insists Kaiser needs to hire 10,000 new healthcare workers to fill current vacancies, as well as "fix broken hiring processes" that are preventing full staffing. The unions are asking Kaiser Permanente to make massive investment in the education and training of future healthcare workers, and for a diminished role for vendors and third-party contractors that the healthcare network relies on.

Persons: Julie Su, Kaiser, Kaiser Permanente, John August, Russ Richmond, Leroy Leo, Bhanvi, Ahmed Aboulenein, Steve Gorman, Shinjini Ganguli, Diane Craft Organizations: Kaiser Permanente Los Angeles Medical Center, Permanente, REUTERS, Kaiser Permanente, Labor, AMN Healthcare, District of Columbia, Cornell's School of Industrial and Labor Relations, Tenet Healthcare, Satellite Healthcare, Fresenius, Thomson Locations: United States, Los Angeles , California, U.S, Kaiser, California, Bengaluru, Washington, Los Angeles

☆ Kaiser Permanente, union negotiations continue as strike begins in Virgina, Washington
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +2 min

A Kaiser Permanente health care center is pictured in Anaheim, California, U.S., October 3, 2023 as more than 75,000 Kaiser Permanente healthcare workers could go on strike from Oct. 4 to Oct. 7 across the United States. REUTERS/Mike Blake Acquire Licensing RightsCompanies Kaiser Permanente FollowOct 4 (Reuters) - Healthcare workers launched a planned three-day strike at Kaiser Permanente facilities on Wednesday, even as the union and the company said talks were continuing. Strikes have begun in Virginia and Washington, with additional strikes set to begin later in the day on the West Coast. Union officials said the planned strike against Kaiser, one of the nation's leading not-for-profit healthcare networks and managed-care organizations, would mark the largest strike ever in the U.S. medical industry. Staffing levels have been a major sticking point, with the union insisting Kaiser needs to hire 10,000 new healthcare workers to fill current vacancies.

Persons: Mike Blake, Kaiser, Ahmed Aboulenein Organizations: Permanente, REUTERS, Healthcare, Kaiser Permanente, West Coast . Union, D.C, U.S . Bureau of Labor Statistics, Thomson Locations: Anaheim , California, U.S, United States, Virginia, Washington, West Coast, California , Oregon, , Colorado, California , Colorado , Oregon

[1/2] A Kaiser Permanente health care center is pictured in Anaheim, California, U.S., October 3, 2023 as more than 75,000 Kaiser Permanente healthcare workers could go on strike from Oct. 4 to Oct. 7 across the United States. REUTERS/Mike Blake Acquire Licensing RightsCompanies Kaiser Permanente FollowWASHINGTON, Oct 3 (Reuters) - Kaiser Permanente appeared headed for a labor clash with 75,000 of its healthcare workers as union leaders said contract talks had stalled on Tuesday, leaving the two sides hours away from a threatened three-day strike in several states. Kaiser said its hospitals and emergency departments would remain open in the event of a strike, staffed by doctors, managers and other non-union "contingency workers." As of Tuesday, the Coalition of Kaiser Permanente Unions said the healthcare giant had yet to offer acceptable terms to address severe staffing shortages, or to embrace adequate improvements in pay and benefits sought by the workers. Staffing levels have been a major sticking point, with the union insisting Kaiser needs to hire 10,000 new healthcare workers to fill current vacancies.

Persons: Mike Blake, Kaiser Permanente, Kaiser, Caroline Lucas, Hilary Costa, Ahmed Aboulenein, Steve Gorman, Bill Berkrot, Gerry Doyle Organizations: Kaiser Permanente, Permanente, REUTERS, D.C, Union, Coalition, Kaiser Permanente Unions, Kaiser, U.S . Bureau of Labor Statistics, Thomson Locations: Anaheim , California, U.S, United States, California , Oregon, Washington, , Colorado, Virginia, Georgia, Hawaii, California , Colorado , Oregon, Los Angeles

☆ US government shutdown could delay news of Social Security increase
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +3 min

That could mean a delay in the much-anticipated announcement of the annual cost of living adjustment (COLA) to the monthly benefits paid out by the Social Security Administration. The new rate will start to be paid to Social Security retirement benefits recipients in January 2024, while payments to SSI beneficiaries typically change at the end of each December. "A delay of the CPI release may have an impact on the COLA announcement by the Social Security Administration," according to a Labor Department memo detailing how a shutdown would affect agency operations. Last year, with annual inflation raging near the highest in four decades, the COLA announced for 2023 payments was 8.7%, the largest increase since 1981 and the fourth biggest ever. Still, whatever COLA is announced for 2024 is unlikely to offer the same buffer over inflation as recipients enjoyed in 2023.

Persons: Price, Dan Burns, Lucia Mutikani, Lisa Shumaker Organizations: U.S . Labor Department, Bureau of Labor Statistics, Social Security Administration, Social Security, CPI, Urban, Clerical Workers, BLS, Labor Department, SSA, COLA, U.S . Federal, Social, Thomson

The mandatory raise would apply to all fast food restaurants in California that are part of a chain with at least 60 locations nationwide. The agreement ends an tense standoff between labor unions and the fast food industry that started last year when Democratic Gov. Gavin Newsom signed a law creating a Fast Food Council with the authority to raise wages of fast food workers up to $22 per hour. In exchange for a $20 minimum wage, labor unions have withdrawn their legislation to make fast food companies liable for their franchise operators' labor violations and lawmakers have stripped funding for the Industrial Welfare Commission. The Fast Food Council created in the original legislation would still exist, but it would only have the authority to set wages, not workplace standards.

Persons: Ingrid Vilorio, ”, Vilorio, Gavin Newsom, Newsom, Kathy Fairbanks, Sean Kennedy, Joseph Bryant, Olga R, Rodriguez Organizations: San Francisco Bay Area, Democratic Gov, Food, Democratic, Industrial Welfare Commission, Food Council, National Restaurant Association, Service Employees International Union Locations: SACRAMENTO, Calif, California, San Francisco Bay, U.S, San Francisco

☆ About 21 million jobs held by women and 9 million jobs held by men could be replaced by AI: ILO
▼ + stars: | 2023-08-22 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

However, in high-income countries, 21 million jobs held by women have the potential to be automated. In high-income countries, 7.8% of jobs held by women have the potential to be automated — which the ILO estimates to be around 21 million jobs. In contrast, 2.9% of jobs in high-income countries held by men — or around 9 million jobs — face the potential of being automated, as shown in the graf below. About a quarter of clerical workers' tasks face a high exposure to generative AI, and 58% of their tasks face a medium exposure to the technology. For example, the study found that only 4% of service and sales workers' tasks face high exposure to generative AI, and 18% of their tasks face medium exposure.

Persons: —, Goldman Sachs Organizations: International Labour Organization, International Labour, Labour Organization Clerical, McKinsey Locations: graf

☆ AI unlikely to destroy most jobs, but clerical workers at risk, ILO says
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +2 min

AI (Artificial Intelligence) letters and robot hand are placed on computer motherboard in this illustration taken, June 23, 2023. It warned, however, that clerical work would likely be the hardest hit, potentially hitting female employment harder, given women's over-representation in this sector, especially in wealthier countries. An explosion of interest in generative AI and its chatbot applications has sparked fears over job destruction, similar to those that emerged when the moving assembly line was introduced in the early 1900s and after mainframe computers in the 1950s. But most other professions, like managers and sales workers, are only marginally exposed, it said. Still, the U.N. agency's report warned that the impact of generative AI on affected workers could still be "brutal".

Persons: Dado Ruvic, Emma Farge, Alison Williams Organizations: REUTERS, Rights, International Labour Organization, Thomson

☆ A.I. is on a collision course with white-collar, high-paid jobs — and with unknown impact
▼ + stars: | 2023-07-31 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

And it has had various effects on the workplace, by displacing, changing, enhancing or creating jobs, experts said. "It is reaching up from the factory floors into the office spaces where white-collar, higher-paid workers tend to be." About 1 in 5 American workers have 'high exposure' to AIwatch nowwatch nowConversely, 23% of American workers have low exposure to AI, according to the Pew report. The remaining share of jobs — 58% — have varying AI exposure. It will also create new challenges and needs like retraining or reskilling; those may have knock-on effects, like child care needs for disadvantaged workers, Holzer said.

Persons: it's, Rakesh Kochhar, Kochhar, Harry Holzer, Holzer, Gene Kindberg, Hanlon, " Holzer, — Organizations: Pew Research Center, Department of Labor, Occupational Information, Georgetown University, federal Labor Department, Technology, World Bank, Pew Research, Business Locations: U.S

☆ 'Oppenheimer' leaves out New Mexicans exposed to radiation from the Manhattan Project, despite local efforts to contact filmmakers
▼ + stars: | 2023-07-25 | by ( Morgan Mcfall-Johnsen | Jenny Mcgrath | ) www.businessinsider.com time to read: +10 min

The Manhattan Project displaced some New Mexicans and employed others at Los Alamos in the 1940s. Christopher Nolan's new film "Oppenheimer" leaves out these lasting, local impacts. The Manhattan Project displaced some New Mexicans, employed others, and irradiated potentially thousands. Her grandfather was the physicist Enrico Fermi, who worked on the Manhattan Project and is played by Danny Deferrari in the film. The Oppenheimer character briefly mentions people living in the area when he proposes it as the site for the Manhattan Project.

Persons: Christopher Nolan's, Oppenheimer, J, Robert Oppenheimer, Tina Cordova's, Cordova, Robert Alexander, me, Christopher Nolan, Wiktor, Getty Images Cordova, Olivia Fermi, Kai Bird, Fermi, Cordova's, Enrico Fermi, Danny Deferrari, It's, Los, Rosario Martinez Fiorillo, Nolan, Elizabeth, Alvin Graves, Elizabeth Graves, Alex Wellerstein, Geiger, Bob Bell, Matt McClain, Graves, Nobody, Leslie Groves, Wellerstein, Cillian Murphy Organizations: Manhattan Project, Service, New, New Mexico History, Pixar, Odeon Luxe, Anadolu Agency, Getty Images, Manhattan, Los Alamos Ranch, Trinity, San, El Rancho, Trinity Test, Stevens Institute of Technology, Washington, Getty, National Park Service, Los Alamos, Alamogordo, Base, Associated Press, Army, Pictures, NPS Locations: Los Alamos, Wall, Silicon, New Mexico, Tularosa, Trinity, Santa Fe, California, London, Vancouver, Alamogordo , New Mexico, San Ildefonso Pueblo, El, Carrizozo , New Mexico, Amarillo , Texas, Silver City , New Mexico, Cordova, Los

☆ Social Security cost-of-living adjustment may be 2.7% in 2024, new estimate finds
▼ + stars: | 2023-06-13 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

New government data shows the annual rate of inflation dipped to the lowest level in about two years as of May. But that may be bittersweet news for Social Security beneficiaries, as they may receive a much lower cost-of-living adjustment in 2024 than they did this year. The Social Security COLA could be 2.7% in 2024 based on the latest consumer price index data, according to The Senior Citizens League, a nonpartisan senior group. The CPI rose 4% from a year ago as of May, the U.S. Department of Labor said Tuesday, and 0.1% for the month. The subset of the index used to determine next year's cost-of-living adjustment, the consumer price index for urban wage earners and clerical workers, or CPI-W, was up 3.6% year over year — the lowest level since March 2021, The Senior Citizens League noted.

Organizations: Social, Social Security, Senior Citizens League, Finance, GOP, U.S . Department of Labor

☆ Column: Inflation and the markets take a bite out of retirement confidence
▼ + stars: | 2023-05-02 | by ( Mark Miller | ) www.reuters.com time to read: +6 min

But persistent inflation and last year’s sharp stock market decline have shaken the confidence of American workers and retirees about their retirement prospects in a way not seen since 2008. That is the key finding of the 2023 Retirement Confidence Survey - the longest-running survey of its kind measuring worker and retiree confidence. But inflation affects everyone, and it is a constant risk factor in retirement plans - even when it is not making headlines. For starters, most retirees depend on Social Security for a substantial portion of retirement income - and it comes with built-in inflation protection. This year, the COLA was a whopping 8.7%, the largest inflation adjustment in four decades.

☆ As inflation starts to subside, a lower Social Security cost-of-living adjustment for 2024 may be on the horizon
▼ + stars: | 2023-04-13 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

New government inflation data shows inflation is cooling — and that could point to a lower cost-of-living adjustment, or COLA, for Social Security beneficiaries next year. Yet another measure used to calculate the Social Security COLA each year — the Consumer Price Index for Urban Wage Earners and Clerical Workers, or CPI-W — rose 4.5% over the last 12 months and 0.3% for the month prior to seasonal adjustment. To be sure, that is a very early estimate, according to Mary Johnson, Social Security and Medicare analyst at The Senior Citizens League. Gauging how much the increase for 2024 will be, if there is one, will be clearer toward the second half of the year, she said. In 2023, Social Security beneficiaries saw an 8.7% bump to their Social Security benefits, a four-decade record prompted by high inflation.

☆ After an 8.7% Social Security cost-of-living adjustment for 2023, next year's increase may not be as large
▼ + stars: | 2023-03-20 | by ( Lorie Konish | ) www.cnbc.com time to read: +5 min

Pascal Broze | Onoky | Getty ImagesAn 8.7% Social Security cost-of-living adjustment for 2023 means beneficiaries received on average $140 per month more starting in January. The Social Security COLA for 2023 was the highest bump in monthly checks beneficiaries have received in four decades. About 70 million beneficiaries receive Social Security or Supplemental Security Income payments. watch nowWhile the Social Security COLA for this year may help ease beneficiaries' budgets, next year's increase may not be as large. Social Security COLA for 2024 may be far lessBased on current projections, the Social Security COLA for 2024 will likely be much lower than this year's 8.7% due to cooling inflation, according to the league.

☆ Gary Vaynerchuk compares the rise of AI like ChatGPT to the way the internet revolutionized work: 'AI is coming for our jobs and that's ok'
▼ + stars: | 2023-02-24 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +5 min

Gary Vaynerchuk predicts that AI software like ChatGPT will eliminate many jobs. He's optimistic about workers' ability to rally and adapt to AI, or create new roles. That's been true to an extent about previous types of automation, but AI looks likely to impact a broader demographic of workers. Like Vaynerchuk points out, there's some reason to be optimistic long-term about the job shake ups technology can cause. But Vaynerchuk is more convinced that AI represents the status quo for automation.

☆ Most Americans just aren't into their jobs, new Gallup data shows
▼ + stars: | 2023-01-26 | by ( Julianne Mcshane | ) www.nbcnews.com time to read: +5 min

As Americans enter the third year of the pandemic, most workers just aren't into their jobs, with nearly three-fourths saying they're either not engaged or actively disengaged at work, according to new Gallup data released Wednesday. Only 32% of American workers said they were engaged at work last year, down from an all-time high of 36% in 2020 and 34% in 2021, the data shows. Workers who are actively disengaged "are disgruntled and disloyal because most of their workplace needs are unmet," according to Gallup. Both women and younger workers value freedom and autonomy in the workplace, Harter said. Hybrid workers saw 2% increases in both active disengagement and "quiet quitting," and a 4% drop in engagement.

☆ Social Security cost-of-living adjustments have fallen short of inflation by $1,054 since the start of pandemic
▼ + stars: | 2023-01-12 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

That's as this year's 8.7% COLA kicks in for more than 65 million Social Security beneficiaries this month. That new data indicates Social Security beneficiaries will recover $38.70 after months of grappling with record high inflation, according to a new report from The Senior Citizens League. Average Social Security benefits fell short of inflation by about $1,054 from the start of the pandemic through 2022, according to a new analysis from the non-partisan senior group. That excludes Medicare Part B premiums, which are typically deducted directly from Social Security benefit checks. The predicament has made it more important for retirees to carefully plan for all income streams, not just Social Security.

☆ Average Social Security retirement benefit fell short by 46% in 2022. Here are the costs that went up the most
▼ + stars: | 2022-12-20 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

Sollina Images | Tetra Images | Getty ImagesAmid record high inflation, stretching Social Security benefit checks became more difficult in 2022. Even as a 5.9% cost-of-living adjustment went into effect in January, the record high annual benefit increase still fell short, according to new research from The Senior Citizens League. The average retiree benefit fell short by an average of $42.35 per month, or 46%, the research found. The 5.9% annual increase for 2022 was the highest bump to benefits in 40 years when it was announced in October 2021. "Even the simplest of foods are harder for people to afford," said Mary Johnson, Social Security and Medicare policy analyst at The Senior Citizens League.

The annual adjustment is forecast to be the largest one-time increase since 1981, and the largest experienced by beneficiaries alive today. The nonprofit Senior Citizens League predicts an adjustment coming in at 8.7%, implying that Social Security recipients could see an increase of about $144 starting Jan. 1, 2023. The Federal Reserve has acknowledged the pain inflation inflicts upon on individuals who receive Social Security benefits. Thanks to an unusual quirk, Social Security beneficiaries can expect to realize the full COLA increase. "The lifeboat is leaking and taking on water, leaving older Americans at risk of financial drowning," Johnson wrote.

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