Many workers who have lost their jobs have defaulted on 401(k) loans.
The number of displaced workers has risen dramatically since the start of the Great Recession, and this year a third of them had to raid retirement savings to make ends meet.
Continue reading… “35% of laid-off workers have raided their retirement savings”
U.S. pushes for more laboratory scientists.
Michelle Amaral planned a traditional academic science career to become a brain scientist to help cure diseases. She planned on her PhD, university professorship and, eventually, her own lab. But three years after earning a doctorate in neuroscience, she gave up trying to find a permanent job in her field.
Continue reading… “Big push for more scientists in the U.S. but there are too few jobs”
It is a lot harder these days than it used to be for Americans to improve their circumstances. One of the most distressing aspects of the state of the US economy is the decrease in social mobility. In other words, if Americans are born poor, they’re overwhelmingly likely to stay poor.
Continue reading… “The ‘American Dream’ has become a myth”
Unlike traditional apartment renters, this breed of American tenants are older and have kids.
The Jacobson family bought their “dream home” in 2005 in the Phoenix area. They built flagstone steps to the front door. They tiled the kitchen and bathroom. They entertained often, enjoying their mountain views. “We put our soul into that house,” says Steve Jacobson, 37.
Continue reading… “Renting a home is the new American Dream”
Futurist Thomas Frey: In December 2006, Britain made its final payment of $84 million on a $4.34 billion loan from the U.S. that was made all the way back in 1945. Germany wasn’t the only country to go bankrupt after WWII. This money allowed Britain to stave off its total collapse after devoting almost all its resources to the war for over half a decade.
Continue reading… “When Countries Go Bankrupt”
Do-it-Yourself Economy
Russell Howze was working as a creative at an advertising agency in Atlanta when he got laid off due to budget cuts years ago. For years he spent his time piecing together work through various corporate jobs, until he decided to follow his heart. Russell then founded a nonprofit organization for artists, and now supplements his income running street art tours through Vayable in his spare time.
Continue reading… “Micro-entrepreneurship a growing trend”
American homeowners who are underwater on their mortgages actually are only running a “paper loss.”
According to real estate site Zillow, nearly 16 million homeowners – not quite a third of people with mortgages – owe more on their home loans than their properties are worth.
Continue reading… “31.4% of homeowners in the U.S. are underwater on mortgages”
Vallejo, CA became the largest city in America to declare bankruptcy in 2008.
The working-class port city of Vallejo, California became the largest city in America to declare bankruptcy in 2008. Crime and prostitution surged as the police force was thinned by 40 percent. Firehouses were shuttered, and funding for libraries and senior centers was slashed. Foreclosures multiplied and home prices plummeted.
Continue reading… “Recently bankrupt Vallejo, California is now a model for other U.S. cities”
86 million Americans were not counted in the labor force because they didn’t keep up a regular job search.
In the United States there are many more jobless people than you might think there are.
The unemployment rate is falling, but that doesn’t include the millions of nonworking adults who aren’t even looking for a job anymore. And hiring isn’t strong enough to keep up with population growth.
Teens with jobs is a rarity in the U.S.
Two major accomplishments will be celebrated by Nick Gentry this month. He is graduating from high school and he has landed his first job after a very long job search. Collecting a paycheck makes Gentry, 18, a rarity in today’s working world.
Continue reading… “Only 25% of U.S. teens have jobs”
Despite the economy more singles are living alone and loving it!
Monica Russell and Rich Rickaby are close friends and have shared apartments with roommates and even with romantic partners before. Neither one of them wants to relive this arrangement ever again.
Continue reading… “More singles in the U.S. are living alone and loving it”
Sucks for American clean tech. Never mind that the industry is pretty universally regarded as one of tomorrow’s most important drivers of job growth and innovation—the already too-meager, maddeningly scattershot government support for clean energy is about to dry up altogether. So, goodbye ARPA-E?
David Roberts points us to this graph from a newish report from the Breakthrough Institute, the World Resources Institute, and the Brookings Institution, and, as you can see, it’s not pretty. And that sad-looking $11 billion stump too will disappear unless there’s a shift in policy.
Here’s Roberts…
Continue reading… “U.S. on track to stop funding clean tech”
By delving into the futuring techniques of Futurist Thomas Frey, you’ll embark on an enlightening journey.
Learn More about this exciting program.