Employment

Tough Times for Baby Boomers

May
08

I have a confession to make: I'm what you call a 'baby-boomer'. That's what you are if you were born between the end of WWII and 1964. Of course there are different categories -- I personally am what's called a 'late boomer' but apparently assumptions are made for all of us. That said, WP has an interesting (and I would say distressing) piece titled "Millions of Baby Boomers are Getting Caught in the Country’s Broken Retirement System" (link).

Basically it relates problems that -- what I would call 'early' -- boomers are having surviving financially. The 401k accounts haven't worked out. People are losing their jobs and are being forced to cash out on their savings, etc. They’re taking Social Security early resultIng in far lower monthly payments. The key take-away is that things are hardly sugar-coated and if anything, they don't look like they'll be getting any better.

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NPR's Scott Simon Asks Wrong Guy to Trash Minimum Wage Hike

Jul
02

One of the more unbelievable interviews I've ever heard on NPR -- at least on the Scott Simon show. Scotty keeps trying to get Congressman Adam Smith to agree that the recent minimum wage hike in Seattle is bad for working people (a conclusion you'd expect from Scotty) -- but Smith just won't have anything to do with it. Instead Smith brings up comparisons with income from earlier periods as well as what corporate management currently is getting. Incredible.
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Is Seattle's Minimum Wage Hike Doing More Harm Than Good?
July 1, 20177:52 AM ET
Heard on Weekend Edition Saturday

A study suggests the most recent minimum wage hike in Seattle may be doing harm. NPR's Scott Simon talks with Rep. Adam Smith, D-Wash., about the impact of Seattle's push for $15/hour.

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Chicago Tribune Doomsday: '1/12/11'

Oct
25

Funny. Every time I hear good news about employment in Illinois -- here's one from today's Chicago Sun-Times titled "Chicago Unemployment Rate Declines to 8 Percent, Lowest Since '08" -- I'm reminded of the following prediction of doom and gloom offered up by the Chicago Tribune Editorial Board in January of 2011:

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Rich Man's War on Working People's Benefits

May
28

They're trying to raise the minimum wage in New York. Of course 'Americans for Prosperity', funded by billionaire David Koch, is against this because 'any minimum wage increase would increase unemployment, especially amongst the young'.

http://www.americansforprosperity.org/041412-minimum-wage-folly

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Retirement Plan USA: Low Pay, Long Hours, Drop Dead

Mar
11

It's amazing how detached from reality "financial advice" in the MSM can be. Here's an example of a headline:

"Eliminate fears about pension cuts by saving early and often"

You get the same rubbish from Market Place on the weekend.

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What the Mayor can do for the 'Forgotton Middle Class'

May
19

It's nice to hear Mayor Daley's concerned about the 'forgotten middle class'.

Maybe the next time WalMart wants to move in, he'll go after them on improving their wages and conditions so they don't have an advantage over established businesses in Chicago that treat their employees better. The 'forgotten middle class' doesn't need a race to the bottom when it comes to bread-and-butter issues.

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