July 22nd, 2014

Millennials Make Up 40 Percent of the Unemployed

Millennials are Unemployed

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.

Career Implications

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.

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July 21st, 2014

Many Americans Have Less Than Three Months in Emergency Funds

Many Americans Have Less Than Three Months in Emergency Funds

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.

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July 18th, 2014

Security Improvements Still on Hold for U.S. Credit Cards

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U.S. credit card issuers have until October 2015 to replace consumers’ credit cards with more secure EMV cards. Read more here.

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July 16th, 2014

Department of Education Issues More Changes to Student Loan Regulations

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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.

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July 15th, 2014

College Graduates’ Job Expectations Don’t Match Reality

College Graduates’ Job Expectations Don’t Match Reality

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.

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July 14th, 2014

Some Hospitals Are Using Credit Card Information to Predict Health Problems

Some Hospitals Are Using Credit Card Information to Predict Health Problems

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.

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July 11th, 2014

New Study Shows More People Working Through Retirement

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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.

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July 9th, 2014

U.S. Places 4th out of 15 Countries in New Retirement Study

U.S. Places 4th out of 15 Countries in New Retirement Study

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.

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July 7th, 2014

Is College Worth It?

Is College Worth It?

Today’s millennials are the best-educated generation in history, according to the Pew Research Center. Regardless of the investment 34 percent of millennials have made in their college degrees, people still speculate whether the rising cost of tuition and the huge amount of debt are worth the diploma. Those millennials will be happy to hear that college is definitely still worth it.

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July 2nd, 2014

North Dakota’s Economy Is Booming

North Dakota’s Economy Is Booming

When you think of the great centers of American economic growth, the Great Plains states don’t necessarily jump to mind. It might be time to change that thought process, though. Look out Wall Street, here comes North Dakota.

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