October 2nd, 2014
The Organisation for Economic Co-operation and Development has released their newest Economic Outlook Report, which contains some interesting findings for the United States. Chief amongst those, as highlighted in a recent research note by Morgan Stanley, is the fact that the United States leads the developed world in low-paying jobs. Over 25 percent of American jobs are classified as “low-paying” by the OECD.
The OECD is a group made up of 34 relatively wealthy countries, mainly centered in Europe and North America. Their recently released annual report defines “low-paying” jobs as ones that pay less than two-thirds of a nation’s median income. Under their definition, then, a low-paying American job would offer earnings of less than $23,390.
September 30th, 2014
According to a new report, 4 million American workers, about 3 percent of all employees, had wages garnished due to consumer debts in 2013.
September 26th, 2014
Marriott recently announced a partnership with A Woman’s Nation, a non-profit organization founded by Maria Shriver, to place tipping envelopes in 160,000 hotel rooms at Marriott hotels across the U.S. and Canada. The American Hotel & Lodging Association, a trade group, recommends that attendants be tipped $1 to $5 per night on a daily basis.
September 25th, 2014
According to a high-ranking House Democrat, the current credit reporting system needs some updating. We explore the significant changes in her proposal.
September 18th, 2014
Apple Pay will allow iPhone users to pay entirely with their cell phone. Apple suggests that Apple Pay will let customers make more efficient and secure purchases.
September 16th, 2014
More good news about credit card delinquency rates has arrived. The latest TransUnion Industry Insights Report found that the rate of credit card payments that were 90 days overdue or more dropped nearly 9 percent in the last year, from 1.27 percent to 1.16 percent of total payments.
September 12th, 2014
According to the Conference Board Consumer Confidence Index, consumer confidence improved for the fourth straight month in August. The new confidence total is the highest the monthly index has found since October 2007, indicating a growth in positive financial sentiment across the United States.
September 9th, 2014
It’s no surprise that raising a kid is expensive, but just how expensive is it? According to the U.S. Department of Agriculture, raising a child born in 2013 until they turn 18 will cost about $245,000 on average. The good news is that this is only a 1.8 percent increase from 2012, which makes it the smallest increase since 2009.
September 4th, 2014
According to the Federal Reserve Bank of New York, Americans added $101 billion dollars in new auto loans in Q2, the biggest quarter of new growth in almost eight years.
September 3rd, 2014
The CFPB recently reached a settlement with First Investors, an auto lender, which will pay a $2.75 million fine for illegal credit reporting practices. According to the CFPB, First Investors violated the Fair Credit Reporting Act by knowingly providing incorrect information about their borrowers to credit bureaus.