All Articles Tagged "income"
For two years women have made up the majority of the country’s workforce. Women also hold most managerial positions. Chaka Khan’s girl power lyrics may be in need of an update. We are every woman (and man); it’s all in us. But where does all this empowerment leave our men? What happens to relationships when men are underperforming women in the prized role of breadwinner?
We’re not talking about deadbeat dads, or lazy mama’s boys who refuse to get a job (we don’t want them anyway). We’re talking about good men who are trying their best, but can’t catch a break in this economy. In 2012, men’s workforce participation rate – working age men who are either working or looking for work – fell to its lowest point on record (since 1948).
The Value of Work In Relationships
Relationship consultant and author Robert E. Hall writes for The Huffington Post:
Relationships are often the first major casualty for the unemployed or even the underemployed. We underestimate the value of work when we view it just in economic terms. Work is much more than the value customers receive or the pay workers collect for producing products and services…Work contributes to essential relationships that yield crucial psychic income. And as the structure of work changes, so do our relationships and our society.
While women’s place in society has progressed, many hold on to traditional views of men and relationships. Picking up the check is liberating at first, but the privilege wears off after a couple of months. Coming home from work to find your man sitting on the couch can elicit resentful feelings, regardless of how many jobs he applied for while you were out. We demand that men change how they view us, but women also need to change how they view men including the value his paycheck adds to his worth.
Beyonce Was Right…
Kathryn Edin, a sociologist who spent five years talking with low-income mothers in Philadelphia, believes the family dynamics of low-income neighborhoods ruled by matriarchies will spread to the whole country. Men, unable to provide steady income or meet women’s expectations, are at risk of becoming obsolete in the lives of women who make all the decisions for their family.
The future of business with its emphasis on relationships and transformative coaching managerial style seems geared toward women. In 2010, for every two men who got a college degree, three women did the same.
Men who are having trouble finding employment, or an income that matches their partner’s are a symptom of a quickly approaching future. It’s a relationship dynamic women will need to learn to deal with as well. Couples counselors, as well as couples who have successfully weathered unemployment, offer these tips:
Keep an open mind. Your partner securing a 9-to-5 position with a salary that matches your own may not be the answer to your relationship woes, or even feasible for your partner. Encourage (and celebrate) them finding temporary and alternative sources of employment, or looking for a position in another area.
Know where you stand financially and adjust your lifestyle accordingly. Once your partner is out of work, there’s no use in wishing for that two-income relationship life or pressuring your significant other to keep up with that lifestyle. Deal with reality. Identify what expenses can be cut and make boosting your savings and paying off debt a priority.
Communicate, but don’t interrogate. Talking is the best way to deal with any issue in your relationship. Be cognizant of the right time and type of communication your partner prefers. Instead of forcing your mate to give a daily recount of every job they apply to, set aside regular meetings where your partner can share their progress and you can brainstorm ideas together.
Don’t forget to have fun and count your blessings. Put the focus on what is right in your relationship. Keep the romance alive with low and no-cost date nights. Boost your partner’s morale by reminding them what their strengths and accomplishments are. Research shows a spouse’s attitude towards job hunting strongly influences the mental state of the unemployed mate.
C. Cleveland covers professional development topics and entrepreneurial rebels who blaze their own career paths. She explores these stories and more on The Red Read, Twitter (@CleveInTheCity) and Facebook (/MyReadIsRed).
You’ve definitely noticed a change in your paycheck since the beginning of the year. A bad change. A very bad change.
The tax relief that we’ve enjoyed for the past couple of years came to an abrupt and painful stop on January 1 when the Social Security tax went up from 4.2 percent to 6.2 percent. The increased taxes are already taking a toll on consumer confidence, which, according to BusinessMirror, dipped to a point we haven’t seen since November 2011. With less money to spend, it looks like there’s going to be less shopping in all of our futures.
Ad Age estimates that, for an income of $50,000, the increase amounts to $1, 000 per year. (The tax increase applies to wages up to $113,700.) Analysts say that totals something in the range of $115 billion-ish. That’s money that people won’t be using to buy stuff at the mall, with consumer spending projections going down.
There is some debate about where Americans will be spending their money now. Will they flock to discount retailers like Target? Will certain retail areas, like home decor, be hit the hardest? Will fast food restaurants like Wendy’s benefit? If there’s less money in people’s pockets, it’s likely that a variety of companies and industries will be hurt.
Research from economists at the Federal Reserve Bank of New York released just yesterday shows that Americans spent the extra cash they had been getting in 2011 and 2012 rather than saving it or paying what they owe. Nearly a fifth of people (19 percent) who said they would use the money to pay off debt actually spent it on other things. And 70 percent of people who said they intended to spend it like there’s no tomorrow kept their promise. “All told, about 36% of the extra income was spent by respondents — a relatively large figure,” The Wall Street Journal reports.
The report also found that it’s the folks who make more money, not the low-income earners, who are more likely to go on a spending spree. Low-income earners were actually more likely to use the money to pay debt.
We’ve talked a lot about budgeting cash on this site, and hopefully most of you out there are able to readjust without too much trouble. What are some of the things you’re doing to account for the lower take-home pay? Let us know in the comments.
In the midst of less than admirable unemployment rates and even the rise of job uncertainty for those who are employed, learning to master a second skill is an option to ensure income flow in case a pink slip is waiting in your future. Finding an alternate source of income in addition to your 9-5 is highly recommended if you can find the time. Some call it a side job; others, like me, consider it a side hustle to keep you one step ahead in case of unexpected emergencies or layoffs.
Side hustles don’t necessarily include you going door to door selling baked goods or manufactured candy bars. In fact, many jobs can be done from the comfort of your own home. Are you unsure of the variety of opportunities that can bring in some extra cash without leaving your house? We’ve got you covered.
Check out these 7 jobs that you can do from home to generate extra income.
When we talk about the cost of obesity, it’s usually related to the burden weight-related issues can have on the healthcare system but obesity may be hitting overweight men and women’s wallets in another way—lower pay, according to U.S. News and World Report.
Unsurprisingly, overweight women are hit the hardest. According to the National Longitudinal Survey of Youth, in 2004, average annual incomes for obese women were $8,666 less than workers with a normal weight. For overweight men, the salary was $4,772 less. In 2008, the researchers found that obese women made an average of $5,826 (15%) less than normal-weight females.
What’s odd is that this pay gap only seems to effect obese individuals who are Hispanic or white. In both 2004 and 2008, black men who were obese earned more than normal-weight black men, and wages were similar for obese and normal-weight black women.
Perhaps this is part of the reason why overweight black women have a higher quality of life than white women, or it may prove that black women’s weight doesn’t mentally and emotionally hinder them from being able to perform on the job and earn the appropriate salary.
What do you think accounts for the fact that overweight black women don’t earn less? What about the fact that overweight black men earn more than normal-weight black men?
Brande Victorian is a blogger and culture writer in New York City. Follower her on Twitter at @be_vic.
More on Madame Noire!
IN A NATION OF SINGLE MOTHERS, MORE FATHERS MUST STEP UP AND PROVIDE.
By Wayne Hodges
“Being unwanted, unloved, uncared for, forgotten by everybody. I think that is a much greater hunger, a much greater poverty than the person who has nothing to eat…we must find each other.” – Mother Theresa
The passage above, quoted by one of nature’s finest, Mother Theresa, basically summarizes our nation’s rising epidemic of single-parent homes; more specifically young mothers. And boy, the statistics don’t lie. According to the Single Parent Center, there are roughly 14 million single parents in the U.S. today; responsible for raising approximately 21.6 million of our nation’s children.
And the correlation between one-parent homes and financial despair is even more dire with 27.7% of custodial single mothers living in poverty.
Before I proceed, the intent of this column is not to cast a vote of judgment against anyone. Instead, I’d just prefer to relay the following message to the parents of our community: OUR CHILDREN NEED YOU!
I repeat: OUR CHILDREN NEED YOU!
Yes, this statement is probably a tad bit redundant. But, who cares? When it comes to the topic of child development, anything is worth repeating twice. And the young fathers and mothers of our community, quite frankly, must come to understand its importance.
There’s no question the morality of today’s youth is significantly different than the “Brady Bunch” days of 40 years ago. For this futility, I point the exclusive finger of blame at parents, corporate America, MTV, BET and VH1 for their careless and irresponsible contributions.
First, let’s start with latter.
In an effort to boost television ratings, the aforementioned networks have made a sick hobby of portraying our men and women as a bunch of money-grabbing, violent, unethical malcontents. See “Basketball Wives.” Even worse, too many boys have bought into the “Get Rich or Die Trying” mentality that permeates urban communities. Speaking from personal experience, like many, I too shouldered the ponderous burden of growing up in a fatherless environment. My mother raised yours truly, my brother and sister on one income; while pursuing a college degree part-time. Even though mama did one hell of a parenting job, the atmosphere at home was far from stress free.
After all, the daunting task of trying to ‘make ends meet’ with moderate income and three mouths to feed is bound to wear a person down sooner or later, right?
But, here’s where the trouble begins; particularly in the case of young black men. To break confinement from the ghetto, too many boys feel obligated to become the “man” their father never was; thus causing them to resort to a series of “quick money” tactics as a means to financially support the home.
Of course, quick money is usually dirty money; which often leads to residency inside a 6′ X 8′ concrete block cell laced by iron bars with a stinking toilet embedded to the floor. Not convinced? Let peek at some more statistics. The Separated Parenting Access & Resource Center (SPARC) reports 85% of youths in prison grew up in fatherless homes. Other studies have shown fatherless children to be customary victims of poor mental health, unsatisfactory educational performance and substance abuse.
Although today’s feature is single mothers, I’d like to shift some attention to dead-beat daddies for just a moment. Guys, the madness has to stop. Children don’t ask to be here. As fathers, it’s absolutely critical we maintain some form of regular contact with our children, regardless how vulgar the socioeconomic conditions. This includes stressed relationships with the biological mother, inadequate finances and substandard education.
Apologies, to be candid, are not good enough. Neither are excuses. Gentlemen, as a byproduct of our laziness, too many children have gone without. To enact positive change, it’s imperative we abstain from leaving these women alone to raise our kids.
Now, back to ladies. In an effort to discourage young women from making poor economic decisions, organizations such as the Women’s Resource Center (WRC) in Kansas City have set up a variety of educational workshops in the areas of home-ownership, child development, finance, building self-esteem, budgeting and college prep. Charlzetta Hall, the Director of the WRC, believes it’s time for women to take control of their lives. And it starts with confidence.
“Too many women are desperate to have a man, and it impedes their progress,” said Hall. “The primary goal of the WRC is to help these ladies understand their inner-beauty first, then everything else will fall into place.”
Wayne Hodges is the editor of MassAppealNews.com
In a study published in the New England Journal of Medicine this week, it is stated that people who live in lower-poverty neighborhoods tend to have lower levels of obesity and diabetes compared to those who reside in rough, poverty-stricken areas. According to CNN, this realization all started after the U.S. Department of Housing and Urban Development offered residents of poor neighborhoods the chance to move on up (not necessarily to the East Side). While they were initially supposed to just be studying how where you reside affects employment, income and education, with the rise in the number of obese Americans, they decided to take their study a step further.
They studied 4,498 single mothers who volunteered for the program to get their families out of high-poverty areas. They found that individuals who moved to lower-poverty areas were 19 percent less likely to have morbid obesity, and 22 percent less likely to have the glucose levels usually connected with diabetes. According to study author Jens Ludwig, “Neighborhood disadvantages contribute to obesity and diabetes. Improving the economic situations [of families] improves their health.”
If you were wondering what is it about poverty-stricken areas that increases your risk for obesity aside from the usual, “No money to afford good food” answer, here are a few ideas, according to previous studies. Many struggling neighborhoods, for one, lack places where you can get healthy sources of food. Corner stores and local food joints usually don’t supply people with the healthy items they need in their diet. Who wants to go far out to the grocery when the corner store has some delicious delights too? And on top of that, the lack of medical benefits, education aspects and stress, a lot of neighborhoods don’t have safe places to exercise or where children can play at and work up a sweat. Interesting.
Can’t say I’m surprised about this revelation. It’s pretty true that you can’t really drive down the street in a bad neighborhood and find an LA Fitness or Equinox to get your mind and body right. But we definitely thought it was worth sharing. So the moral of the story is, the area you live in could possibly be making you obese–but let’s not use our residences as scapegoats either. You know when it’s time to put down that cheeseburger…
What do you think of the study’s findings?
More couples than ever are choosing shacking up over matrimony, with their numbers doubling since the ’90s, according to a new report released by The Pew Center. Its analysis of recent Census data revealed another discovery: unmarried college-educated couples who live together have a higher household income than similar married people. Unmarried partners earned a median sum of $106,400, while the legally wed took in a little less at $101,160.
These facts disprove the widely-held notion that marriage is the ideal financial arrangement for all. CNN.com elaborates:
The report’s findings fly in the face of conventional wisdom that says married people have it better economically than their unmarried counterparts.
“When we started writing this report, we thought that people who were married, and not those just living with each other, would be better off. But that’s not the case,” said D’Vera Cohn, the study’s co-author.
The key is a college degree, Cohn said.
Cohabiting couples without college educations typically fare worse than comparably educated married couples and are on par with the economic means of an adult living without a partner, the study said.
In fact, “unmarried cohabiting couples who have only completed high school have a median income of $46,540,” while “married high school-educated couples have a combined salary of $56,800,” according to AOL’s MyDaily. So for those with only a high school diploma, marriage still provides greater stability — yet less than that of a single person with a college degree.
Pew found that college educated singles earn an average of $90,067, almost twice that of high school educated unmarried live-ins. Being single and college educated does not cause one to have a high salary — this is a statistical correlation. Yet, this correlation proves the importance of a college degree over marriage for creating wealth. Because of this, when college educated singles unite, they become an economic powerhouse.
The larger combined income of educated, unmarried partners enables these couples to save 1.4 times as much as couples who do not live together. Other factors contribute to their ability to save, such as the fact that only 67% of married couples count both spouses as earners, as opposed to 78% of unmarried loves. More income automatically means more discretionary funds.
In addition, unmarried, college educated households have fewer children. Child rearing, for couples all along the education spectrum, leads partners to drop out of the workforce.
These findings portray remaining unmarried as an economic advantage — if one has a college degree. Being college educated can make living with a similar spouse a means for getting ahead, but one can also do pretty well alone. According to this new research, anyone without a college education else is better off getting hitched.
What do you think? Does being college educated trump marriage as a foundation for financial security? Or is there more to matrimony than money? Leave your comments on your personal experiences, and discuss.
(AJC) — The personal income of Georgians grew by 1.65 percent in the first three months this year, thanks in part to a reduction in Social Security withholding tax. But the state still lagged behind the nationwide average gain of 1.8 percent. The first-quarter increase outpaced the 0.97 percent gain in Georgia incomes for the last three months last year, and it marked the sixth consecutive quarterly gain in personal income, a streak that began at the end of 2009.
Social media has been widely credited as the catalyst for the Egyptian uprisings and the subsequent demonstrations in other Middle Eastern countries. It’s a beautiful thing indeed, marking a new era in politics and communications. At the same time, how much of the business behind technology has dis-empowered the lower middle class of the U.S?
In a report by CNNMoney, “middle-class incomes have been stagnant for at least a generation, while the wealthiest tier has surged ahead at lighting speed.” Part of the rich getting richer trend has to do with business owners being able to outsource jobs overseas. Technology has certainly been beneficial to corporate earnings and profits of the everyday business owner but hasn’t had a consistent positive effect on blue collar workers.
Many in the middle class today are finding themselves worse off than their parents, facing less stability and lower incomes in the workforce. The discrepency is becoming so sharp between the upper and middle class that Americans now have to ask, is it better to be low-income? Low income earners are often eligible for federal programs to help with home ownership, college tuition and so forth.
Read More: How the middle class became the underclass
The dwindling wealth of black families is very real. Marketwatch highlighted this issue recently pointing out that the recession has hit black families harder than other racial groups. Median household income for blacks fell 7.2% from 2007 to 2009, as compared to 4.2% decline for whites or the 4.9% drop in Hispanics’ income, according to the Census Bureau. In addition, the Marketwatch report points out that “the typical black family had about three times as much wealth in 1983 than it did in 2009 — $6,300 in inflation-adjusted terms in 1983 compared with just $2,200 in 2009.”
Why is it that, with more opportunities and with the technology revolution, has our wealth dwindled?Part of the reason is that Blacks didn’t take advantage of the home ownership. After peaking near 50% in 2004, the ownership rate for blacks fell to 47% by the time the bubble burst in 2006, according to the Census Bureau. Couple that with the fact that those who did own their homes were most susceptible to sub-prime mortgage loans and predatory lending. The lack of wealth puts each generation in a deficit of sorts. With children of these families having to take out bigger student loans than their counterparts, they graduate with more pressure and more debt that they will hope to reconcile by the time they have kids.
But it’s not all bleak, depending on how you look at it. ABC news released its own report, asserting that the number of black-owned businesses in the U.S. increased by 60.5% to 1.9 million between 2002 and 2007, more than triple the national rate according to U.S. Census data released Tuesday. The number of businesses across the country increased by 18% in the same amount of time.How is it that we own more businesses but cannot claim more wealth? The business activity may be there but we can’t assess how well those businesses are being run.
To read more, check out Marketwatch