Unemployment rates for Americans under the age of 25 are the highest since the end of World War II. It's a situation that is unlikely to change anytime soon, according to a new report.
Since 2007, the average official unemployment rate for people under 25 has been 18 percent, 5.5 points higher than for the preceding 15 years, according to Bureau of Labor Statistics figures. This would seem to make the 16.2 percent rate for March look like an improvement.
Once you get your hard-earned dollars into your 401(k), it’s painful to think they might not begetting you the highest return possible. Before you go any further, those who aren’t contributing regularly to a 401(k) or another type of tax-advantaged retirement account, such as a Traditional or Roth IRA, need to start now. While making that 10 or 15 percent contribution from your paycheck can be tough, there’s no excuse to not plan for supporting yourself in your old age.
Like many New Yorkers, Hazel B. of Queens struggled to get by after she was laid off from her job as an accounts receivable administrator. A single mother of two, Hazel relied on credit cards to make ends meet while she looked for work.
Finally, she found a job opening that looked promising. She went on two interviews and took a test given by the potential employer. She believed she had performed well, but then word came back that Hazel would not be hired because of negative information in her credit report.
Krugman speculates that they see this as a morality play wherein the rich are obviously the virtuous heroes (being rich and all) and the plebes are a bunch of lazy, immoral parasites who refuse to carry their weight. I think he's probably right, but I'm going to speculate further that for many of them this is a result of guilt at their own gargantuan selfishness and greed. I can only imagine that it's hard to live with yourself when you're taking more and more of the wealth that humans create while everyone else is falling behind.
As New York policymakers, led by Gov. Andrew Cuomo, consider a comprehensive package of campaign finance reform, they should look at Connecticut to see just how much a strong small-donor public financing program can improve the legislative process and relieve lawmakers of the burdens of high-donor, special-interest fundraising.
As some New York state lawmakers consider publicly financed campaigns to thwart public corruption in state politics, a liberal-leaning public policy think tank has released a report showing how a voluntary public financing system in Connecticut has contributed to a more "representative and responsive" Legislature there since its implementation in 2008.
Fittingly, perhaps, Cuomo’s single biggest misstep in office can be tied to the power of moneyed interests. After fighting long and hard, the governor was forced to abandon a scheme to build a $4 billion convention center in Queens, as part of a joint venture with the Genting Group, a Malaysian corporation.
NerdWallet underlies its findings with a report by public policy organization Demos from last summer, which added the further frightening fact that among folks investing in 401(k) plans, a full two-thirds had no idea they were payinganything at all for their 401(k) (which actually makes all of the folks who guessed wrong in NerdWallet's poll look pretty smart by comparison).
On a normal day, Sonia Acuña, a petite 41-year old mother of four, puts on her bright red McDonald’s cap and reports to work at a branch of the giant hamburger chain in Chicago’s main rail terminal, Union Station. But today, in cold and drizzling early morning weather, Acuña—still wearing her McDonald’s hat—was out on the street in front of the terminal, striking.
The drumbeat for public financing pounded loudly on Monday when good government groups and Connecticut Secretary of State Denise Merrill visited the Capitol to make the case for campaign finance reform.
As some New York state lawmakers consider publicly financed campaigns to thwart public corruption in state politics, a liberal-leaning public policy think tank has released a report showing how a voluntary public financing system in Connecticut has contributed to a more "representative and responsive" Legislature there since its implementation in 2008.
A group of activists and politicians from Connecticut came to Albany Monday to promote their brand of public financing, which has been in place since 2008. According to supporters, including Sec. of State Denise Merrill, public financing for the legislature and statewide offices has led to a number of (mostly progressive) policy breakthroughs including an unclaimed bottle bill (sound familiar?) higher minimum wage and most importantly, a deeper, more diverse pool of candidates, with a 41 percent increase in the number of contested seats.
ALBANY, N.Y.—With the recent indictment of New York politicians like Senator Malcolm Smith and Assemblyman Eric Stevenson, many wonder, can they trust state lawmakers?
"We do a random sample of more than 800 registered voters and our sample looks like the New York electorate both in terms of geography, bipartisan break up, gender, age, income etc. so we do it very carefully to ensure we get a representative sample," said Greenberg. "Voters don't feel really strongly about that legislature and don't have great confidence in them right now."
Bet if I asked, the odds are good that many people could tell me to the penny what they just paid for a gallon of gas.
So how much did it cost you to invest in your 401(k) last year? I don't know myself. And you likely don't know either.
Over the years, most of us have heard that if we just start saving a few hundred dollars a month in our 20s, we can retire a millionaire. Compound interest is your best friend.
Americans owe more than $1 trillion in student loans — a total that surpasses credit card debt — but millions who are past due on payments are not taking advantage of a program designed to make their debt manageable.
The federal income-based repayment program reduces an eligible borrower’s monthly payment based on income, and it forgives the loan balance after up to 25 years. Those who owe more than they earn in a year are probably eligible. And those working in public service fields, such as teachers, can have loans forgiven after 10 years.
I watched the disturbing Frontline documentary on PBS,The Retirement Gamble, and not surprisingly, I got to thinking about the fees I pay for investing in my retirement accounts.
FREDERICKSBURG, Va. -- There's nothing Deidre Duffy would rather do than host a backyard barbecue for a few friends.
"I don't want anything fancy," Duffy, 53, said in an interview next to her black Weber grill. "Give me some charcoal and I'm going to shoot those flames about six feet high, and when they come down -- it's my favorite thing."