More of the Minimum

Recently 10 states increased their minimum wage, which will affect an estimated 1 million workers in the U.S. The states that raised their minimum wage to varying degrees include: • Arizona • Colorado • Florida • Missouri • Montana • Ohio • Oregon • Rhode Island • Vermont • Washington

According to Reuters, these wage increases could result in an ‘an extra $190 to $510 per year’ for minimum wage earners depending on where they live. Critics of this increase say it will cost companies too much money, reduce hiring and cause companies to relocate to states with lower minimum …read more

Kids Today: Not to Blame for Joblessness

Youth have long been associated with laziness. Does “Get a job, hippie,” sound familiar? According to the International Labor Organization (ILO), however, kids today aren’t totally to blame for their joblessness.

A recent ILO report on youth employment states that, because of the economic crisis, the global youth unemployment rate has skyrocketed since 2007, reaching an all-time high at nearly 75 million and effectively wiping out the gains made in previous years.

The employment future for people aged 15-24 looks equally dim as the ILO estimates that the unemployment rate is expected to reach 12.7 percent by the end of …read more

The Generation [Income] Gap

Hey – Save Some for Us!

Infographic from the April 2012 Issue of Esquire Magazine

The net worth of Baby Boomers is nearly 47 times higher than Americans aged 35 and younger. As older Americans get wealthier, young Americans struggle to earn enough to survive; relying on their parents for financial help, and in many cases, housing.

During the economic downturn, the wealth and influence of the Boomers caused the U.S. Government to cut funds for education-focused initiatives and student loan assistance while funding for programs like Medicare and Social Security remained relatively untouched. A 2009 Brookings Institute study …read more