Father of modern 401(k) says it fails many Americans Marketplace ...Today, the typical middle-class household nearing retirement has saved $120,000 -- one-tenth what many say it needs. ..
Why real wages are falling Stumbling and Mumbling ...Real wages are falling at a near-record rate...they were 6% lower in April than they were in April 2008. This is the biggest five-year drop in real wages since 1921-26, and the second-largest fall since records began in 1855...
IMF Article IV on the US: "deficit reduction in 2013 has been excessively rapid and ill-designed" Econbrowser ... the automatic spending cuts (“sequester”) not only exert a heavy toll on growth in the short term, but the indiscriminate reductions in education, science, and infrastructure spending could also reduce medium-term potential growth...
GOP labor bills limit 'micro-unions,' require secret ballots The Hill ...Legislation introduced in the House and Senate on Thursday would cut back on the ability of unions to form among smaller groups of workers and require that workers use a secret ballot when voting to organize...
26 Lawmakers Live Off Food Stamps To Protest Republican Cuts ThinkProgress ...The SNAP challenge means that Rep. Barbara Lee (D-CA) and 25 participating members must try to live off of under $4.50 per day for food and drink...
Spanish Austerity Cuts Put Lives at Risk, Study Finds Reuters ... Austerity cuts in Spain could lead to the effective dismantling of large parts of its healthcare system and significantly damage the health of the population, according to a study...
As neighboring states add jobs, Wisconsin leads nation in losses over past 12 months The Cap Times ...Wisconsin (had)...6,800 fewer total non-farm jobs in April 2013 compared to April 2012...
Rick Perry Vetoes Texas Equal Pay Bill Huffington Post ...Texas Gov. Rick Perry (R) has vetoed a bill meant to prevent wage discrimination against women...
Emergency Manager: Detroit won't pay $2.5B it owes Associated Press ...A team led by a state-appointed emergency manager said Friday that Detroit is defaulting on about $2.5 billion in unsecured debt and is asking creditors to take about 10 cents on the dollar of what the city owes them. Kevyn Orr spent two hours with about 180 bond insurers, pension trustees, union representatives and other creditors in a move to avoid what bankruptcy experts have said would be the largest municipal bankruptcy in U.S. history...
LABOR: Teamsters to vote on strike at bottling company Press-Enterprise ...Local 63 of the Teamsters is preparing to take a vote this weekend on whether to authorize a strike against American Bottling Co., which has a distribution center in Riverside...
