And the workforce will come to order. Good morning, everyone. And welcome to todays hearing. The committee is honored to welcome our distinguished guest, secretary alexander acosta. Secretary acosta has been at the helm of the department of labor since april and were grateful he could join us to testify for the First Time Since his confirmation. Mr. Secretary, welcome to the committee. We look forward to your testimony. Which we are sorry did not arrive earlier. And discussing the department of labors policies and priorities under the new administration. The department of labor is on the front line of the issues facing workers and job creators. It sets policies that have a widespread impact on our nations economy, employment growth, Retirement Security, and more. Whether they relate to health care, worker protections, retirement planning, Workforce Development, or employee wages and benefits, its the responsibility of this committee to am sure these policies are in the best interest of
Priorities including overtime rules, training and apreniveship programs, collective bargaining rights, retirement programs and accessibility of other employment benefits. The House Education Committee held this hearing last month. The quorum being present, the committee on education and the workforce will come to order. Good morning, everyone. And welcome to todays hearing. The committee is honored to welcome our distinguished guest, secretary alexander acosta. Secretary acosta has been at the helm of the department of labor since april and were grateful he could join us to testify for the First Time Since his confirmation. Mr. Secretary, welcome to the committee. We look forward to your testimony. Which we are sorry did not arrive earlier. And discussing the department of labors policies and priorities under the new administration. The department of labor is on the front line of the issues facing workers and job creators. It sets policies that have a widespread impact on our nations e
Again to an impossibly distant 2015. , the year that film comes to mind as i think about the changes we are seeing in how seniors approach work and retirement, the topic of todays hearing. For most of the past century, seniors have been withdrawing as americansforce came to view retirement as a time of uninterrupted rest and leisure that could last for decades. Ofthe year 2000, only 32 werecans age 55 and older still working, and the average age of retirement had dropped to just 63, but the babyboom generation has reversed this trend. Today, 40 of workers 55 and older remain in the workforce, a ratio not seen since the eisenhower administration. Remainingoomers are in the workforce longer for many reasons, but one leading reason is the need for Financial Security. Many americans today dont have the resources they need to live comfortably and retirement without working. It used to be said that Retirement Security was a threelegged stool, the first leg being an employerprovided pension,
Expected to grow modestly this year and a solid pace through the next few years. Although real adjusted inflation grew weekly in early 2015, the economy now appears to be on firmer ground and we expect the pace of Economic Activity to pick up over the next calendar year and the next few years. After that, we expect to see moderate to constrained early growth in the workforce. Real gdp will grow by 2 this calendar year, by 3. 1 in 2016, and by 2. 7 in 2017. Above its potential or maximum sustainable rate over that time frame. The economy will grow at an average rate of 2. 2 , equal to its real growth rate. This will be driven by consumer spending, business investment, and residential investment. Over the next few years, the faster pace in growth output is expected to reduce the quantity of underused resource, or slack, in the economy. The estimate was about 3. 4 in 2014. Cbo next to narrow that gap to its historical average by the end of 2017. Although labor Market Conditions continue t
Monitoring. He was convicted of fondling a woman in dementia in wayne. Chad pradelli was in the courtroom today when spinglers sentence was read. You have the details. Reporter yes, you said it. Spingler was sentenced to two years probation and 60 days of house arrest. The commonwealth asked for 23 months behind bars and he apologized saying i committed a tremendous error. It was his motherinlaw who lived in a nursing home caught fondling her chest once not twice. And was doing it for shock value because his motherinlaw who has dementia stopped recognizing him. And he took into consideration his longterm commitment to his motherinlaw. Who he took care of since 2007 and that he visited daily. The judge also said he took into consideration the review about the sexual offenders review board who found spingler not to be a violent sexual predator and at low risk for recidivism. A review of the criminal complain is disturbing currently the board of commissioners is working to remove ahr from