An increasing number of U.S. companies are suspending their employer 401(k) match in response to continued cost pressures. While the move is controversial, it is not surprising given today’s economic climate. According to a new analysis by Hewitt Associates, a global human resources consulting and outsourcing company, most companies could save millions of dollars by suspending their 401(k) match for only one year. Despite significant cost savings, Hewitt recommends employers take this step only as a last resort due to the significant impact it has on employees’ ability to save enough for retirement.
Home prices will further decline, unemployment will soar to double digits, and bank solvency issues will reemerge, says Max Bublitz, Chief Strategist at SCM Advisors, an affiliated manager of Virtus Investment Partners.
Poor health among workers is far costlier to U.S. employers than they realize, impacting their profitability and undercutting the nation's overall productivity, according to a major study published this week in the Journal of Occupational and Environmental Medicine (JOEM).
Job security emerged as a top financial concern for Americans amid a 16-month U.S. economic recession, according to a poll conducted by Harris Interactive on behalf of the American Institute of Certified Public Accountants.
The Deloitte Consumer Spending Index fell in March as the recent growth in real wages stalled due to rising energy prices. The Index attempts to track consumer cash flow as an indicator of future consumer spending.
When it comes to investing in sustainable business behaviors and programs, more than half of corporate marketers and communicators believe that their organizations will increase their involvement in environmental sustainability initiatives during the next two to three years, according to a survey conducted by the American Marketing Association and Fleishman-Hillard, Inc. In addition, half of those surveyed believe that economic realities will actually encourage the adoption of sustainability practices.
As consumer spending slows and customers hunt for bargains, the Internet is fast becoming the retail outlet of choice for Americans, according to the latest Ouch Point® survey from Opinion Research Corporation, an infoGROUP company.
The Conference Board Measure of CEO Confidence, which had declined to a historical low last quarter, posted a gain in the first quarter of 2009. The Measure now stands at 30, up from 24 last quarter (a reading of more than 50 points reflects more positive than negative responses). The survey includes about 100 business leaders in a wide range of industries.
The U.S. Import Price Index rose 0.5 percent in March, the Bureau of Labor Statistics of the U.S. Department of Labor reported. A 10.5 percent increase in import petroleum prices more than offset a 0.7 percent decline in the price index for nonpetroleum imports. In contrast, export prices fell in March, decreasing 0.6 percent.
Investment losses from the current recession have significantly eroded the funding status of public pension plans, affecting entities from school districts, to local governments, to state governments, and there is growing concern that increasing deficits in public plans will force taxpayers to make up for the shortfall.
