July 22nd, 2014
Millennials don’t have it easy.
Many of them won’t find much comfort in encouraging headlines proclaiming economic recovery, or the recent news that the U.S. unemployment rate fell to 6.1 percent last month to the tune of 288,000 new jobs.
According to the Georgetown University Center on Education and the Workforce, nearly 40 percent of the unemployed fall into the millennial generation. That equals 4.6 million unemployed people, of which 2 million are long-term unemployed. Compared to the 4.2 million Generation Xers and 2.5 million baby boomers who are unemployed, being a millennial doesn’t sound like a ton of fun right now.
Although the Labor Department’s latest report states that the unemployment rate dropped to 6.1 percent from 6.3 percent, the numbers might be a little misleading. Generation Opportunity, a non-partisan advocacy organization, says that the unemployment rate for 18-29 year olds is actually 15.2 percent, if you include people who have stopped looking for work. These long-term unemployed are particularly concerning, as they’re likely to stay discouraged about their prospects in the long run.
July 21st, 2014
Each month, Bankrate’s Financial Security Index attempts to capture the American financial climate. The biggest, and most concerning, takeaway from the June survey is that half of Americans have no more than a few months’ expenses saved away.
July 18th, 2014
U.S. credit card issuers have until October 2015 to replace consumers’ credit cards with more secure EMV cards. Read more here.
July 16th, 2014
With summer fully underway, school and student loans are probably far from your mind. The U.S. Department of Education understands. That’s why they’re giving you time to review and comment on their newest changes over the next few months.
July 15th, 2014
A college diploma can’t guarantee success. It tips the odds in your favor when you’re competing against somebody with less education, but that doesn’t mean that the hard work is over. When you walk across that stage in your cap and gown and exit the college bubble, you’re replacing the stress of schoolwork with the stress of the workforce. And the scary bit is that this transition is not always fluid if you’re not ready for it.
July 15th, 2014
Another month has passed, so it's time to introduce you to another member of the Credit Karma team. Today, we're excited to introduce you to Pedro, one of our amazing Senior Product Managers. Pedro loves traveling and has been to a whopping 37 countries so far. He's also a black belt in taekwondo, but, in his own words, is "pretty chill and completely non violent." Read on for more fun facts about Pedro!
July 14th, 2014
There’s your credit score, your auto insurance score, your home insurance score – and your health risk score? Bloomberg Businessweek is reporting that Carolinas Healthcare, a network of hospitals, urgent care centers and doctor’s offices in North and South Carolina, has partnered with data providers to collect and analyze consumer data on potential patients. They’re now taking information from credit card purchases, public records and store loyalty programs to better assess the likelihood that a given person will get sick. The collected information is then translated into a risk score that could potentially be distributed to doctors and other medical professionals in the future.
July 11th, 2014
Traditionally, retirement is viewed as a time of leisure, rest and relaxation. After working for 30 or 40 years, retirees expect to take a load off and do things that they enjoy. Now, though, more and more people are choosing to continue working after retirement.
July 9th, 2014
It’s no secret that the nature of retirement is changing. In the wake of recent economic turmoil and in the context of concerns about the health of our Social Security system, it wouldn’t be too surprising to find many Americans feeling pessimistic about their retirement plans. The results of a new survey, however, might be cause for some optimism.
July 9th, 2014
Leah’s credit awakening happened at a critical time – while she and her husband were obtaining the mortgage for their first home, a cozy bungalow in Atlanta. Although Leah thought she had a great relationship with credit, she was alarmed to find that she actually didn’t have a score that would qualify her and her new husband for the best possible mortgage rates.