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
US sets Section 232 tariffs on trucks and buses
Medium- and heavy-duty trucks (MHDV) and buses imported to the US will start being charged Section 232 tariffs beginning Nov. 1.
AMU: Consumer auto delinquencies: Warning sign for consumer health?
The Consumer Federation of America estimates rising total auto debt at a staggering $1.66 trillion, along with increasing repossessions and a sharp increase in delinquencies.
Beige Book: Regional market growth remains mostly flat
Economic growth in some US regions in September was offset by challenges in others, causing the market to appear largely unchanged overall, according to the Federal Reserve’s latest Beige Book report.
ISM September survey captures deepening manufacturing gloom
The Institute for Supply Management’s (ISM) latest monthly report on manufacturing reflects a bleak view of American industry in September.
Key industries concerned over government shutdown’s impact on steel, manufacturing
Trade groups cautioned that a prolonged shutdown could strain US industry.
