According to the Federal Reserve Board’s May 2023 report Economic Well-Being of U.S. Households in 2022, nearly four in 10 US adults reported that they couldn’t cover a $400 emergency expense with cash, savings, or a credit card paid off at the next statement.
The Federal Reserve Board noted, the higher savings aren’t
A record share of Americans in a new survey from the Federal Reserve Board say they’re worse off financially than they were a year earlier.
According to the “Economic Well-Being of U.S. Households” report, the 35 percent of adults who reported they were worse off in 2022 than they year prior is the highest share recorded
In 2019, about half of American households had no savings in retirement accounts, according to the Survey of Consumer Finances (SCF). These accounts include individual retirement accounts; Keogh accounts; certain employer-sponsored accounts, such as 401(k), 403(b), thrift savings accounts; and pensions.
Personal saving has grown more important as
Businesses can play a crucial role in addressing poverty issues in the USA and throughout the world by implementing strategies that promote economic and social equity. Business needs to be part of the equation of alleviating poverty. Ask any one who is struggling financially what would improve their situation and the answer will usually
The Covid-19 pandemic was terrible. But it did contribute to two improvements in the lives of working Americans on both sides of the wage spectrum.
First, low earners. “After a brutal few decades in which low-wage jobs proliferated and the American middle class hollowed out, the working poor have started earning
Amid soaring inflation rates and signs that the economy is approaching a recession, one-in-four U.S. parents say there have been times in the past year when they could not afford food their family needed or to pay their rent or mortgage. A similar share (24%) say they have struggled to pay for health care their family
Imagine a 12-year-old girl, named Merah, who aspires to be a female legislator in her country when she grows up but who cannot continue her schooling because there is no secondary school in her community. She and other girls like her are not allowed to shuttle back and forth to neighboring communities to attend school,
New data from the UN, WHO & World Bank shows that the first two decades of the 21st century have seen the largest decline in maternal deaths in human history. Between 2000 and 2020, the annual number of women dying while pregnant or within 42 days of giving birth fell from 447,000 to
It’s time to take action to support women workers in global supply chains
BSR’s HERproject, Gap Inc., P.A.C.E, CARE and Better Work have come together to form a new initiative called RISE: Reimagining Industry to Support Equality in order to scale impact and accelerate equality for women workers in global garment, footwear and home furnishings supply chains.
The
In honor of Women’s History Month, we will feature articles that focus on women this month. This one’s from the Pew Research Center by
The gender gap in pay has remained relatively stable in the United States over the past 20 years or so. In 2022, women earned an
Poverty is most often assessed using objective measures such as absolute and relative income levels. However, different individuals may experience different levels of financial stress at the same income level. Studies have found that the perception of income is only moderately correlated with actual income level and that it is the perception itself that relates
As has been explored in earlier articles on this blog, there are numerous obstacles – political, social, and structural – that prevent the integration of women into the Indian economy on equitable terms and footing with their male counterparts. These issues are deeply rooted in the Indian economy and society more broadly, and addressing them
India is a country where gender inequality has been a crucial issue for generations. Starting at a very young age, girls face a variety of barriers that contribute to unequal economic and educational opportunities. The empowerment of women, both through education of girls and employment of women, has a direct impact on the Indian economy.
This op-ed was originally published in Project Syndicate.
Following the steep economic downturns brought about by COVID-19, policymakers should be asking or rethinking fundamental questions. None is more fundamental than whether rapid economic growth is the best way to drive development and help struggling communities escape poverty.
For good reason, economic growth has long been
What the Poor Think of the Rich
It almost goes without saying, sometimes a person’s mental health problems can lead to poverty. And sometimes mental health problems don’t correlate with poverty. But, often, one comes with the other. The World Health Organization has made it fairly clear that the two interact closely (and correcting one might lead to impacting the other for
Like many people, I am a Mark Twain fan. Therefore, on a recent trip to Hartford, Connecticut I visited his historic home.
Browsing through the gift shop after the tour, the following book caught my eye, “Ignorance, Confidence, and Filthy Rich Friends: The Business Adventures of Mark Twain, Chronic Speculator and Entrepreneur” by Peter Krass. This
The American people are no strangers to the spirit of charitable giving. A phenomenal figure from Charity Navigator shows that as many as 50 percent of American households donated money when the 2010 earthquake devastated Haiti.
This giving accumulated to $1.4 billion. Another example of American goodness was the $1.6 billion donated to victims of the
With COP26, the UN’s climate change conference, on the horizon next year in Glasgow, all eyes are on securing the decarbonisation of the global economy. What this will mean and how it will be achieved will be hotly debated before, during and after the conference.
Thanks to COVID-19, the world has experienced an extraordinary simulation of
While the presidential race has dominated the 2020 election, there are many other important decisions facing American voters. Here are 17 proposals on ballots around the country that, if approved, would go a long way towards reducing economic inequality.
Tax increases on the wealthy and corporations
