Almost half of single women over the age of 65 face the real crisis of outliving their financial resources. Most have very limited resources and are forced to make daily trade- offs between paying bills, forgoing home maintenance or medical needs. New research shows that economic insecurity among single senior women is on the rise. Between 2004 and 2008—even before the full impact of the Great Recession had been felt—economic insecurity among this population subgroup increased by one-third, from 35 percent to 47 percent.
Even before the full impact of the Great Recession hit, seniors were seeing their retirement security steadily and rapidly destroyed. The elimination of secure pensions for most Americans combined with rising costs of basic expenses has resulted in a dramatic rise in senior economic insecurity.
The American Dream used to mean that if you put in a hard day's work, you could expect good wages, benefits, and a better life for your kids. Today, the kinds of jobs that can provide a solid middle-class life in return for hard work are in short supply - unemployment is high, earnings are flat, and hard-won benefits are being lost. The future of Oregon's middle class, the backbone of the state's economy for more than half a century, is at risk.
Oregon's strong and vibrant middle class didn't just happen.
The American Dream is about working hard in return for decent wages, economic stability, and being able to provide a better life for your kids. But the kinds of jobs that can provide a solid middle-class life in return for hard work are in short supply in Texas. Unemployment is still high, earnings have been stagnant for a decade, and many workers lack health insurance and retirement savings to protect them financially during a serious illness or when they can no longer work.
Pennsylvania's middle class is in jeopardy. Once the home of a thriving manufacturing sector, robust union participation, and an example of smart policy choices and a stable middle class, the state has been caught in a downward spiral that mirrors unfortunate national trends. And though Pennsylvania has weathered it better than most, the Great Recession has intensified this spiral in the Keystone State as well.
Now is the time for citizens, workers, employers, and policymakers to come together once again to rebuild pathways to the middle class, create good jobs with fair pay and decent benefits, and ensure that prosperity is broadly shared for the next generation.
Washington's strong and vibrant middle class didn't just happen. It was built brick by brick in the decades after World War II-by the hard work of our parents and grandparents and the strength in numbers that came from the unions that represented them. Unions made sure that as our nation's wealth and productivity grew, so too did the income and benefits of the people who worked hard to create that wealth. For decades, our nation's prosperity was widely shared-wages increased and more employers provided their workers with health insurance, pensions, and paid time off.
The fear of poverty and outliving one's resources is an increasingly common experience among today's senior citizens. For millions of American seniors this fear is justified. In only four years, the number of seniors at risk of outliving their resources increased by nearly 2 million households. Using the Senior Financial Stability Index, economic insecurity among senior households increased by one-third, rising from 27 percent to 36 percent from 2004 to 2008. This steady and dramatic increase occurred even before the full force of the Great Recession hit.
Research
Institute on Assets and Social Policy at Brandeis University
A preliminary analysis of the United States Election Assistance Commission’s (EAC) biennial report to Congress on the NVRA shows the dramatic impact that stepped-up oversight and enforcement of voter registration mandates at state agencies can have in reversing the long decline in registration among low-income and working class Americans. Individual states clearly show the impact of enforcement activity although the data in the recent EAC Report also show that many states continue to ignore their responsibilities.
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Today's young adults are coming of age in a tough economy, on the heels of 30 years of declining economic opportunity and security for all but the most affluent and most highly educated. These changes are quite evident in Michigan, where the once-mighty manufacturing sector that provided better-than-average jobs in the 1960s and 1970s has eroded, hitting young adults particularly hard.
This report reveals the extent of credit information “mission creep,” examines troubling shortcomings in the for-profit credit reporting industry, and recommends common sense steps to reform the credit reporting system.
For far too long, brokers have been selling their older clients complex investments known as structured products. These products are so risky, and so costly in fees, that some of them are almost sure money losers. They entered retirement portfolios like Trojan horses, and then destroyed people’s life savings. Yet the financial meltdown of 2008 has not chastened Wall Street. Brokers and banks continue to sell these high-risk investments to people who can’t afford major losses.
How Maine can use deposits of state tax revenue to tilt the economic playing field back toward Main Street businesses, our community banks, and long-term job growth.
A Hawaii Partnership Bank will generate new revenue for Hawaii, save local governments money, and make us less dependent on big offshore banks that are dramatically reshaping life for families and businesses in Hawaii.
This report makes the case that we should create jobs for the unemployed directly and immediately in public employment programs that produce useful goods and services for the public’s benefit.