Six years after America sank into the deepest economic downturn since the 1930s, the jobless rate has fallen to 5.9 percent, the lowest since July 2008. But one demographic group — African-American men — seems to be stuck in a permanent recession.
For decades, free high-school education helped strengthen the middle class and generate prosperity. So isn’t it time to extend the same thinking to college?
Despite Friday’s unemployment rate dropping to 5.9 percent nationally, New York City is still home to the dead-end kids.
Half of the city’s 600,000 recent college graduates are either underemployed or out of work, according to New York Fed researchers.
Most of this 50 percent are working in jobs they are overqualified for — no college degree required — and that are often low-pay, part-time and without benefits. It’s a vast jobs wasteland out there for this Millennial generation. [...]
When people like me write about the middle class, it has nothing to do with envy or class warfare—two shopworn epithets that should be retired from the political lexicon. The condition of the middle class—its size, income and self-confidence—reveals the extent to which economic growth increases opportunity. When the middle class is shrinking, when incomes of middle-class families are stagnating and when the heart of American society is losing hope in a better future, then the U.S. economy is in trouble. And so is the political system. [...]
How bad a problem is inequality? Are working-class people getting screwed? Should we raise taxes on the rich? Is the United States, in short, a fundamentally unfair place? These are the questions that keep awake policy analysts and fuel endless dinner-party debates. But there's one group that is not losing very much sleep over them: rich folks.
The FDIC estimates there are 10 million people living in the U.S. who do not have a bank account — that’s one out of every 13 households. Nearly 33 percent of people living in Starr County, TX can’t write a check. In one census district in Savannah, GA, over 42 percent of residents are unbanked. The unbanked are usually poor, often minorities, and find themselves shunned by banks that can’t make money off them. Typically, they end up turning to predatory check cashers and payday lenders. Many also feel a great sense of social division between themselves and those who have bank accounts.
On September 12 2014, the Massachusetts legislature sent the United States Census Bureau a resolution adopted by both chambers, calling on the Census Bureau to reform its outdated practice of enumerating incarcerated persons as “residents” of the prisons in which they are temporarily incarcerated.
On Election Day, Montana will host one of the country’s key voting rights battles as voters decide whether to preserve or eliminate the state’s Election Day Registration (EDR) law, which permits citizens to register (or update their registration if they’ve recently moved) when they show up at the polls.
Democrats in tight races have found a new villain this election cycle: student debt.
“It totally limits your options of what you can do,” said one student in an ad from Kentucky U.S. Senate candidate Alison Lundergan Grimes, who accuses Senate Minority Leader Mitch McConnell of having “turned his back on the students” for blocking Sen. Elizabeth Warren’s student loan refinancing bill.
By offering low-fee checking accounts, Walmart dares to go where most big banks won't. Few major financial institutions are willing to give lower-income Americans checking accounts these days -- without exorbitant fees.
But, unlike the big banks, Walmart really needs low-income customers.
While the de Blasio administration and the City Council work through the details of a bill that would prohibit employers from reviewing the credit histories of potential hires, liberal advocates are pushing for passage of the strongest possible version of the legislation.
(New York, New York) — As the country struggles to find remedies for its growing student debt problem, the national public policy organization Demos has released The Affordable College Compact, a new a proposal for a federal-state matching program to alleviate this burden for students and address many of the contributing factors of rising college costs, most notably state disinvestment.
Fewer American high school students are working summer jobs and part-time jobs than a decade ago, and that will likely mean lower wage-earning capacity in their futures, research indicates. In 2000, about 34 percent of high school students age 16 and older held jobs, but that share had fallen to 18 percent by 2012, data from the National Center for Education Statistics indicate.
It’s the classic Catch-22 of the doomed job search: How do you get a job? You need experience. And how do you get experience? Get a job. But for many, the unemployment cycle gets further twisted when it intersects with the debt cycle. When prospective employers run credit checks, a bad report becomes a financial scarlet letter. ...
Demos President Heather McGhee issued the following statement on the Senate's actions this week on the Democracy for All resolution:
“Demos applauds the Senate for debating and voting this week on the Democracy for All resolution, which would clarify that the People have the power to curb the influence of big money on our democracy.
A bill that aims to “prohibit discrimination based on one’s consumer credit history” by banning employers from doing credit checks on job applicants will be the subject of a City Council hearing set for 10 a.m. Sept. 12 at City Hall. [...]
According to an article by Amy Traub titled “Discredited: How Employment Credit Checks Keep Qualified Workers Out of a Job,” the practice of checking credit on prospective employees is legal under federal law.
“Demos strongly supports the Democracy for All resolution and calls on all senators to vote to send it to the states for ratification as the Twenty Eighth Amendment.
Providence, RI. Local Cranston residents and the ACLU of Rhode Island won a significant victory today in their fight for equal voting power in City elections when Judge Lagueux of the U.S. District Court for the District of Rhode Island denied a motion to dismiss their one person, one vote lawsuit, allowing their case to move forward.
“I’m thrilled this case is going forward,” said Karen Davidson, lead plaintiff. “As a Cranston resident and taxpayer I’m entitled to equal representation and I will keep fighting for it.”
In a record-breaking demonstration of support, over one million commenters have submitted comments to the U.S. Securities and Exchange Commission (SEC) calling on the agency to take immediate steps to require publicly traded corporations to disclose their use of corporate resources for political purposes to their shareholders.