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Job Security Is So Last Century

Job Security Is So Last Century

The Great Recession may be officially in the rear-view mirror, but the lingering uncertainly attached to keeping a job could become a permanent state of being. That unease has led to a whole new category of employees: the working worried. Everybody’s relationship with his or her employer is different, but as a broad generalization, I think it’s a good idea not to become complacent about your job.
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Why Don’t Wall Street and Main Street Intersect?

Why Don’t Wall Street and Main Street Intersect?

If you are mystified about the disconnect between Wall Street’s stock market gains and Main Street’s anemic economic health, you are not alone. While the stock markets have reached record territory, gaining steadily over the past four years since the plunge in late 2008 and early 2009, the economy on Main Street – the one that includes jobs and wages – has remained stubbornly tepid. In past economic cycles, Main Street’s recovery usually lagged behind Wall Street, but eventually came on line. In this cycle, Main Street doesn’t seem to be going anywhere.
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Look Who’s Worrying Now – Gen-X and Gen-Y Worry About Safety Nets

Look Who’s Worrying Now – Gen-X and Gen-Y Worry About Safety Nets

According to a 2012 Pew Research Center survey, as recently as 2009 it was mid-50s “Gloomy Boomers” who fretted they would outlive their savings. But with the return of both real estate values and the stock market, Boomers are feeling better about their future. Now, it’s Gen-X and Gen-Y who are worried. Fifty-three percent of those age 36-40 indicate that they are either “not too” or “not at all” confident that they will be able to afford to retire. And, at least according to an analysis of data collected by the Federal Reserve Board in its Survey of Consumer Finances, those between the ages of 35 and 44 have good reason to be worried:
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The Great Recession High School Experience

The Great Recession High School Experience

For adults, the past four years have been a long slog of financial uncertainty and stress; for those graduating high school in 2013, the Great Recession has been an economic reality throughout their entire time in high school. To these young adults, there is no reference point. The times they are living in are not the “new normal”; they are just normal. Consider the impact recent turmoil in the economy has had on the families of this year’s high school graduates as they face the looming costs of a college education.
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All Is Not Well in Stockton

All Is Not Well in Stockton

It didn’t come as a surprise when the California city of Stockton declared bankruptcy; city officials had been issuing warnings for quite some time. Stockton is insolvent and has not been keeping up with payments towards its employees’ pension fund accounts. It is the city’s largest financial liability and, while the bankruptcy judge agreed the city is broke, he has not determined if the pension payments can be included in the negotiations. If the judge decides that payments to the pension fund can legally be reduced just like most outstanding debt in bankruptcy proceedings, city employees will potentially face lower pension benefits; if payments to the pension fund cannot be legally reduced, it means that all the city’s creditors, except the pension fund, will get pennies on the dollar and the city might never dig itself out of its hole. It’s a mess.
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