A growing thicket of federal regulations under the Obama administration has contributed to an employment spike in at least one corner of the job market: the increasingly vital compliance industry.
ObamaCare, the Dodd-Frank Act and other large federal undertakings have led to an outpouring of new agency rules derided by business groups and defended by advocates.
But the regulations have also been a boon for professional compliance officers paid to help companies understand and adapt to the new requirements.
“Staff to track compliance issues is on the rise, and it has been for the last several years,” said Richard Riese, senior vice president for regulatory compliance at the American Bankers Association. “And, at the moment, there’s no prospect it will decrease anytime soon.”
Data kept by the Bureau of Labor Statistics (BLS) shows an 18-percent increase in the number of compliance officers in the United States between 2009 and 2012, according to an analysis conducted by the conservative American Action Forum (AAF).
At last count, there were an estimated 227,500 compliance officers employed in the United States, according to the BLS. The bureau defines a compliance officer as an employee responsible for evaluating conformity with laws and regulations.
The agency estimates do not include professions like bank examiners, tax collectors, or Occupational Safety and Health Administration inspectors that are tasked to monitor companies for fraud and safety violations.
Compliance officers make an average of just under $65,000 annually, a gross national labor cost of roughly $14.7 billion, according to the BLS data.
Via: The Hill
Continue Reading.....
Showing posts with label Businesses. Show all posts
Showing posts with label Businesses. Show all posts
Saturday, November 9, 2013
Friday, December 21, 2012
‘Democratic’ and ‘Anti-Business’ Are Becoming Synonymous
The top-10 states on Forbes’s list — Utah, Virginia, North Dakota, North Carolina, Colorado, Nebraska, Texas, Georgia, Oklahoma, and Iowa — voted for Mitt Romney by an average margin of 14 percentage points. Meanwhile, the bottom-10 states on Forbes’s list — California, Wisconsin, New Mexico, Vermont, West Virginia, Mississippi, Michigan, Hawaii, Rhode Island, and Maine — voted for President Obama by an average margin of 13 points. That’s a 27-point swing from Romney to Obama as we move from the top-10 states to the bottom-10 states.
Forbes rated the states based on six factors: “business costs,” “labor supply,” “regulatory environment,” “economic climate,” “growth prospects,” and “quality of life.” Forbes rated 62 percent of Obama’s states as being below average and 63 percent of Romney’s states as being above average. Obama won only 33 percent of Forbes’s top-15 states but 73 percent of its bottom-15 states.
Labels:
Businesses,
California,
democrats,
Forbes,
Hawaii,
Maine,
Michigan,
Mississippi,
New Mexico,
North Dakota,
Obama,
Rhode Island,
Romney,
Utah,
Vermont,
VIrginia,
West Virginia,
Wisconsin
Location:
Los Angeles, CA, USA
Subscribe to:
Posts (Atom)
Popular Posts
-
The Internal Revenue Service’s (IRS) final rule on Obamacare’s individual mandate, released this week, uses the term “Shared Responsibility...
-
Just hours after four U.S. Marines were shot and killed by Islamic terrorist Muhammad Youssef Abdulazeez in Chattanooga Thursday, the Whit...
-
Republican state attorneys general on Tuesday slammed comments from Attorney General Eric Holder that state officials don’t have to defend...
-
Background: the Federal Trade Commission got a bug up ah, decided that some boilerplate, non-binding, non-enforceable language in the Mus...
-
On the 50th anniversary of Martin Luther King's "I Have a Dream" speech in Washington on Wednesday, the president of a promin...
-
The professional core of the U.S. military overwhelmingly favors Mitt Romney over President Obama in the upcoming election — but not bec...
-
Of course it is illegal to campaign inside a polling place. Via RNC Deputy Communications Director, Tim Miller: Update: Tim Mil...
-
Imagine you are dining in a restaurant with a dozen other people and the governor of California. While you are studying the menu, the go...
-
Chinese hackers who tapped into Verizon's system targeted phones used by Republican presidential candidate Donald Trump and his running...
-
First and foremost—lest I forget—both the presidential and vice-presidential “debates” questioning of Romney, Obama, Ryan and Biden will b...