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U.S. President Joe Biden addresses Morehouse College graduates during a commencement ceremony in Atlanta, Georgia, U.S., May 19. Biden's commencement address at Morehouse comes as recent polling has showed Black voters, especially young ones, have weakening enthusiasm for the president. Meanwhile, former President Donald Trump's support from Black voters has increased by 9 percentage points. But Biden still has the majority of support among Black voters, at 69% vs. Trump's 18%. Vice President Kamala Harris has spent years reaching out to Black voters over the course of Biden's first term.
Persons: Joe Biden, Morehouse, Donald Trump's, Biden, Biden's, Sebastian Gordon, Kamala Harris, Wally Adeyemo, Steven Horsford, Harris, Adeyemo Organizations: Morehouse College, Morehouse, Black, NBC, NBC News, White House, Georgia, NAACP, state's Democratic, Biden Locations: Atlanta , Georgia, U.S, Gaza, Black, Atlanta, Israel, Detroit, Nevada, Wisconsin
Most non-retired adults have some type of retirement savings, but only 36% think their savings are on track. New research from economists at the Federal Reserve Bank of New York finds that this retirement savings deficit hasn’t made a dent in when Americans plan to exit, or partially exit, the workforce. “The pandemic-induced change in retirement expectations may continue to affect the labor market in years to come,” they wrote. Yes, but: This is a survey of expectations, researchers at the New York Fed are quick to point out. Just because Americans say they plan to shift to part-time work or retire early, it doesn’t mean that they’ll be able to.
Persons: Felix Aidala, Gizem Kosar, Wilbert van der, , They’re, Alicia Wallace, delinquencies, Joelle, CNN’s Parija, Donna Morris, Morris, ” Morris Organizations: CNN Business, Bell, New York CNN, Census, Federal Reserve Bank of New York, Social Security, New, Survey, SCE, triannual, Social, Social Security Agency, Lawmakers, New York Fed, Federal Reserve Bank of New, , Public Policy Research, Credit, Walmart, CNN, San Francisco Bay Area Locations: New York, United States, York, Federal Reserve Bank of New York, Bentonville , Arkansas, Walmart’s Dallas, Atlanta, Toronto, Bentonville, San Francisco Bay, Hoboken , New Jersey
CNN —If you think the rent is too damn high, wait until you get the bill for child care. And the tab exceeded annual typical mortgage payments in 45 states, plus the District of Columbia, according to Child Care Aware. Nationwide, the average annual cost of care rose to $11,582 per child last year, up 3.7% from the prior year. Further exacerbating the shortage was the continued disappearance of licensed child care providers who operate out of their homes. Also, another $15 billion federal pandemic infusion for child care and development block grants, which states use to subsidize child care for working families, will expire this coming September.
Persons: that’s, Sandra Bishop, , Anne Hedgepeth Organizations: CNN, District of Columbia, of Columbia, Care, Nationwide, US Department of Health, Human Services, Care Aware’s, Century Foundation Locations: Illinois , Indiana , Iowa , Kansas , Massachusetts, Minnesota , Nebraska , Pennsylvania, Rhode Island , Vermont, Wisconsin
By December, he was standing with hunger strikers outside the White House, upping his criticism of the actions in Gaza. Shelley Mayer, a state senator whose district largely overlaps with the congressional district, initially backed Bowman. New York state Sen. Shelley Mayer at a state Senate Judiciary Committee hearing in April 2023, in Albany. Explaining how his response to the Israel-Hamas war fits his district, Bowman cited a poll conducted by his campaign that he claimed showed an overwhelming majority in his district support a permanent ceasefire. The Democratic Majority for Israel (DMFI) has endorsed Latimer and is expecting to spend to boost him.
Persons: Jamaal Bowman’s, Manu Raju ”, Jamaal Bowman, Israel’s, Israel, Bowman, upping, He’s, Benjamin Netanyahu, Joe Biden, Netanyahu, Shelley Mayer, George Latimer, Sen, Hans Pennink, ” Mayer, , , We’ve, ” Bowman, Rashida Tlaib, Jonathan Jackson, Cori Bush, Nathan Howard, Biden, Chuck Schumer, , New Yorker, Usamah Andrabi, Jeenah, Latimer, Jimmy Carter, Hakeem Jeffries, Kevin Riley, Riley, Israel doesn’t, ” Latimer, he’s, he’d, , ’ ” Bowman, Amy Paulin, it’s, ” Paulin, Jamaal, Mandel Ngan, Latimer hasn’t, Patrick Dorton, Jeremy Ben, Ami, Ben, ” Ben, Steny Hoyer, Hoyer, ” Hoyer Organizations: CNN, Democrat, United Nations, J, New York Democrats, Democratic, Westchester, Republican, Capitol, Fox News, , Reps, House, Iron, Democratic Socialists, America’s, Michigan Rep, Palestinian, Israel, American Israel Public Affairs Committee, New, George Latimer voters, Democrats, Washington Post, House Democratic, Conservative, Getty, Jewish Voters, Empowerment, Black, AIPAC, PAC United Democracy, Democratic Party, ” Maryland Locations: Gaza, Bronx, Westchester County, That’s, New York, Washington, Israel, Washington groaned, George Latimer . New York, Albany, Palestine, Palestinian, York, Palestinian American, , White Plains , New York, Yonkers, Rye, Brooklyn, Westchester, Scarsdale, Washington ,, AFP
With no federal oversight of workplace benefits like paid leave and caregiving policies, corporate leaders are being asked to take the lead. Goldman Sachs , American Express , Deckers Outdoor, S&P Global and Splunk are the top companies for parents in 2024, according to Just Capital's research. The "indirect costs" are the loss of productivity during an employee's leave, temporary replacement and cost of administering a paid leave program. "Paid parental leave is an expensive proposition," said Yvette Lee, an HR knowledge advisor at SHRM. Lee said the investment in paid parental leave and similar policies may make sense in the long run.
Persons: Alison, it's, Goldman Sachs, Lauren, Mario Washington, SHRM, Yvette Lee, Lee Organizations: Just Capital, CNBC, American Express, P, P Global, Society for Human Resource Management Locations: SHRM
There are signs that the U.S. consumer is still spending, especially on experiences. But stubbornly high prices are squeezing consumers with lower incomes, pressuring everyday purchases and corporate profits. Broadly speaking, credit card companies like American Express, Visa and MasterCard have described spending trends as "relatively strong," "relatively stable," and even "healthy." Priceline parent Booking Holdings told analysts there are no signs consumers are taking shorter vacations or trading down in their hotel choices. McDonald's added that "the consumer is certainly being very discriminating in how they spend their dollar."
Persons: Brandon Bell, Morgan Stanley's Michael Wilson, Morgan Stanley, Mike Stocker, Stanley Black, Decker, , Anton Pinsky, Beata Zawrzel, Laxman Narasimhan, Shack, Domino's, Pavlo Gonchar Organizations: Getty, Home Depot, Walmart, American Express, Visa, MasterCard, PayPal, Booking Holdings, Las, Port, Tribune, Service, Consumers, Whirlpool, Corp, Starbucks Corp, Nurphoto, Lightrocket Locations: Austin , Texas, U.S, Las Vegas, Port of Miami, Krakow, Poland, Russia, Ukraine
Known then as Masako Owada, she worked long hours and had a rising career as a trade negotiator. Much has changed for Japan’s Foreign Ministry — and, in some ways, for Japanese women more broadly — in the ensuing three decades. Since 2020, women have comprised nearly half of each entering class of diplomats, and many women continue their careers after they marry. For years, Japan has promoted women in the workplace to aid its sputtering economy. But many women still struggle to balance their careers with domestic obligations.
Persons: Masako Owada, Crown Prince —, — Naruhito, Japan’s Foreign Ministry — Organizations: Crown, Japan’s Foreign Ministry, Private Locations: Japan
CNN —The mix of local residents visiting the Enfield Food Shelf in Connecticut has changed a lot in the last few years. It now seems that one unexpected expense tips people’s finances.”Between 300 and 400 households visit the Enfield Food Shelf in Connecticut each week. Khamphay Khen shops at the Enfield Food Shelf to help feed his family of six. The Enfield Food Shelf serves between 300 and 400 households a week. “Even though there are a lot of jobs available, and the unemployment rate is low, we’re seeing food insecurity increasing,” said East.
Persons: Kathleen Souvigney, Souvigney, , , Jason Jakubowski, Khamphay, he’s, Khen, Honda, it’s, Enfield, Chloe East Organizations: CNN, Enfield Food, Survey, Connecticut Foodshare, Enfield Food Shelf, Urban Institute, The Hamilton, Brookings Institution Locations: Connecticut, Enfield, America
Florida’s Abortion Ban Will Reach Well Beyond FloridaAugust 2021 Miles to nearest clinic offering abortions after 6 weeks 50 150 250 350 450 Source: Caitlin Myers, Middlebury College As of Wednesday, Florida has banned abortion after six weeks of pregnancy. Florida, North Carolina and Virginia were the only states in the South offering abortion after six weeks of pregnancy. Women in several states will need to travel hundreds of miles farther to reach a clinic. Florida’s new ban could change that, researchers said — an illustration of how regional abortion access has become. If the amendment earns the support of 60 percent of voters, it will reverse the ban and protect abortion rights until about 24 weeks.
Persons: Miles, Caitlin Myers, Roe, Wade, , Jenny Black, , , Andrew Shirvell, Ron DeSantis, Professor Myers, Dobbs, Stephanie Loraine Piñeiro, Myers’s, Myers Organizations: Middlebury College, Planned, Eastern Seaboard, Guttmacher Institute, Jackson, Health, Florida Voice, Gov, Republican, Florida Access, Florida Supreme, Food and Drug Administration Locations: Florida, South . Florida , North Carolina, Virginia, North Carolina, South Carolina, West Virginia, ” Florida, California, New York, Illinois, Dobbs v, Miami, Charlotte, N.C, Washington, Alabama, Georgia, Louisiana, Mississippi, Alabama , Arkansas, Louisiana , Mississippi , Oklahoma , Tennessee , Texas
Opinion: Why memes about Mommy and wine are no joke
  + stars: | 2024-04-24 | by ( Kara Alaimo | ) edition.cnn.com   time to read: +6 min
Editor’s note: Kara Alaimo, an associate professor of communication at Fairleigh Dickinson University, writes about issues affecting women and social media. At work, women on average earn just 84 cents for every dollar earned by men and are up against endless stereotypes about why they’re not leadership material. “Anyone who’s been on social media in the last ten years has seen the memes: ‘Mommy needs wine.’ ‘I wine because my kids whine.’ You can buy infant onesies that say ‘I’m the reason mommy drinks’ on Amazon,” Yvonne points out. It requires social structures such as an adequate childcare system and resources for women who need to leave abusive homes. We all also need to stop sharing jokes and memes that suggest it’s humorous for people of any gender to deal with the stresses they’re up against by imbibing carcinogens.
Persons: Kara Alaimo, Kara, Celeste Yvonne, it’s, Yvonne, they’re, who’s, ” Yvonne, , I’ve, Holly Whitaker, Carol Lee Flinders, ” Whitaker Organizations: Fairleigh Dickinson University, Women, Press, Facebook, CNN, JAMA, Pew Research Center, US Centers for Disease Control Locations: United States
In your 40s, you're likely hitting your peak earning years and beginning to seriously evaluate your strategy for saving, whether it's for retirement or your children's future. In 2023, Americans in their 40s managed to save over $6,930, according to data from New York Life. While that's lower than the $8,911 people in this age group aimed to save last year, it still puts them second on the list of age groups who managed to save the most in 2023. "It could be kids activities, it could be child care, or it could be college, all those areas take a lot of people's cash flow." Here are three tips from Cheng on how people in their 40s can save more this year.
Persons: Marguerita Cheng, Cheng Organizations: New York Locations: New
If you're in your 40s and have over $40,000 saved for retirement, you're ahead of most people in your age bracket. Here's how much Americans have in their 401(k)s by age, according to Fidelity. By the time you reach your 40s, you should aim to have three times your salary saved for retirement, according to Fidelity's guidelines. Why Americans in their 40s haven't been able to save moreVarious factors have gotten in the way of this age cohort's ability to boost their retirement contributions. How people in their 40s can boost their retirement savings
Persons: they're, Anne Lester, Xers, Lester Organizations: Fidelity Investments, Fidelity, CNBC
To live comfortably in Massachusetts, a family of two working adults and two kids would need to earn $301,184 annually. "Comfortable" is defined as the income needed to cover a 50/30/20 budget for a family of four. SmartAsset extrapolated the income needed for a 50/30/20 budget based on the cost of necessities, using data from the MIT Living Wage Calculator. In contrast to these states, Mississippi is the least-expensive state to raise a family, requiring only $177,798 per year in annual income. Here's a look at the income needed for a family of four to live comfortably in each state, listed in alphabetical order.
Organizations: MIT, of Labor Statistics Locations: York , California, Hawaii, it's Massachusetts, Massachusetts, Connecticut, York, California, Mississippi, U.S, New York
In your 30s, your list of financial burdens is probably growing, including everything from paying for child care to saving up for a first home. Despite these challenges, Americans in their 30s managed to save the most money out of any age group in 2023, according to data from New York Life. Parents in the U.S. spend around 24% of their household income on child care each year, a recent report from Care.com found. "But child care, we have to pay for that once the baby's born. If you're in your 30s and want to save more this year, here are two strategies to help stash away more cash.
Persons: it's, Shaun Melby, Care.com, you've Organizations: New York, Melby Wealth, CNBC Locations: New, U.S
"Child care is core to enabling women to work," she said. She explained that if she stayed in her career, her entire post-tax pay would have gone to child care, and all of the child care providers in her area were waitlisted. I didn't really go through this, so how many people are really thinking child care is an issue? "If you want a strong economy, women have to participate and in order for that to happen, we need strong child care," she said. Raimondo noted that half of Americans live in a "child care desert," with not enough services available at a cost that is affordable.
Persons: Gina Raimondo, Joe Biden, Raimondo, , CNBC's Sara Eisen, Jessica Chang, Chang, CNBC's Julia Boorstin, We've, it's Organizations: Semiconductors, America, White, Capitol, U.S, Samsung, CNBC's, Changemakers, U.S . Army, CNBC Changemakers, Boston Consulting Group, U.S . Chamber of Commerce, Commerce Department Locations: WASHINGTON, DC, Washington ,, Rhode, U.S, Texas, Korean, New York City, Korea
Among them, it's highest in the legal profession: Indeed found that average workers saw their paychecks grow at a 5.7% pace in March 2024 versus a year earlier. Strong wage growth doesn't necessarily translate to a high salary, though. By comparison, software developers make $66.40 an hour and $138,110 annually on average, according to BLS data. For example, workers in accommodation and food services saw annual earnings growth peak at 16.1% in December 2021, according to ZipRecruiter data. By comparison, it found that those in the information sector saw growth peak at 7.8% in September 2022.
Persons: Julia Pollak, Allison Shrivastava, Pollak Organizations: Maskot, Workers, Finance, it's, CNBC, U.S . Bureau of Labor Statistics
CNN —Italian prime minister Giorgia Meloni says surrogacy is “inhuman” and is backing steeper penalties against the practice, including fines of up to $1 million and multiple-year prison sentences. “I continue to believe that surrogacy is an inhuman practice,” Meloni said at a conference ‘For a Young Europe: Demographic Transition, Environment, Future’ in Rome on Friday. Meloni’s comments against surrogacy fall in line with the views held by the Catholic Church. “The demographic challenge, and the economic sustainability to which it is connected, is one of the main challenges for us,” she said. The move to criminalize surrogacy is largely seen as a move against the LGBTQ+ community.
Persons: Giorgia Meloni, Meloni’s, , ” Meloni, , Pope Francis, Organizations: CNN, Catholic Locations: Italy, Europe, Rome,
Since that ownership change in 2018, involving a hospital chain known as LifePoint Health, care at the health system has declined, three patients say. In recent years, private-equity firms have taken over broad swaths of the nation's economy, extending well beyond health care. The analysis, called the Private Equity State Risk Index, details private equity's involvement in those arenas in all 50 states. The index shows "the private equity threats in our own backyard and gives state leaders the tools to protect the people they serve," said Chris Noble, policy director at Private Equity Stakeholder Project. "By providing transparent data on the risks associated with private equity investments, we empower communities, working families, and policymakers to advocate for change and protect their states from the threats posed by unchecked private equity firms."
Persons: Paul Ricci, Ricci, Conemaugh, Chris Noble Organizations: Broadway Capital, Apollo Global Management, Allegheny Independent Media, NBC, NBC News, MetLife, Equity, Private Equity Locations: Chelsea , Massachusetts, Pennsylvania, Johnstown, Hastings, Meyersdale, United States, Allegheny Region, New York City, Conemaugh, U.S, Arizona, Georgia, New Mexico, West Virginia, Alabama, Massachusetts, Washington, Louisiana, Michigan
But a new report from Consumer Reports said it recently compared the nutritional profiles of two Lunchables kits served in schools and found they have even higher levels of sodium than the Lunchables kits consumers can buy in stores. The non-profit consumer group said it has petitioned the US Department of Agriculture, which oversees the federally assisted school meal program, to remove Lunchables food kits from school cafeterias, as a result. The introduction of Lunchables in schools came amid proposed changes to school food guidelines by the USDA, which oversees the federally assisted school meal program. The proposed changes aimed to reduce added sugars and sodium levels in school-provided lunches. Food additives are considered “generally recognized as safe” (GRAS) by the US Food and Drug Administration, but not everyone agrees.
Persons: Lunchables, Armour LunchMakers, Oscar Mayer, can’t, , Brian Ronholm, Kraft Heinz, ” Kraft Heinz, Carlos Monteiro, Monteiro, ” Monteiro, Heinz “ Organizations: New, New York CNN, Consumer, Natural Meat, World Health Organization, US Centers for Disease Control, US Department of Agriculture, CNN, USDA, University of Sao, NOVA, US Food and Drug Administration, Center for Science, Environmental, Kraft Locations: New York, University of Sao Paulo, Brazil
More than 25 million federal student borrowers owe more than they originally borrowed, according to the Biden administration. It estimates that, if its new plan is enacted as proposed, borrowers will get up to $20,000 of unpaid interest on their federal student debt forgiven, regardless of their income. Borrowers would need to be enrolled in an income-driven repayment plan to qualify but shouldn't have to apply for the relief. "Student debt interest capitalization has been keeping families from accessing their version of the American Dream," said Jaylon Herbin, director of federal campaigns at the Center for Responsible Lending. "Erasing that debt will lessen the burden of student loan debt on millions of borrowers and allow them to pay off their loans in a timely manner."
Persons: Joe Biden, Kevin Lamarque, Biden, Jaylon Herbin Organizations: Madison Area Technical, Truax, Reuters, Consumer, Center for Locations: Madison , Wisconsin, U.S
The groups affected include:— Borrowers whose loan balances have ballooned because of interest would have up to $20,000 of their interest balance canceled. The plan would waive the entire interest balance for borrowers considered “low- and middle-income” who are enrolled in the administration’s income-driven repayment plans. The interest forgiveness would be a one-time benefit, but would be the largest relief valve in the plan. — Borrowers with undergraduate student debt who started repaying their loans more than 20 years ago, and graduate students who started paying their debt 25 or more years ago, would have their debts canceled. Students who attended institutions or programs that left them with mounds of debt but bleak earning or job prospects would also be eligible for relief.
Organizations: Public
Opinion | The Birth Dearth and the Smartphone Age
  + stars: | 2024-04-05 | by ( Ross Douthat | ) www.nytimes.com   time to read: +2 min
My newsroom colleagues Jason Horowitz and Gaia Pianigiani have a lovely report this week about family-friendly policies in the Italian province of Alto Adige-South Tyrol, which has the highest birthrate of any region in an aging, depopulating Italy. Their story is a portrait not just of a particular policy matrix but also the culture that policy can help foster. Some of what Carney describes is a set of habits that’s beyond the reach of policy. (I don’t think there’s much the government can do to persuade parents to “Have Lower Ambitions for Your Kids,” to select one of his more striking chapter titles.) But some of the sense of overwhelmingness that comes with modern parenting seems like it could be mitigated, not just through a once-a-year benefit or tax credit, but also through small consistent signals of support: the family discount on groceries, the convenient in-home child care option, the open play space, the flexible work space.
Persons: Jason Horowitz, Gaia Pianigiani, , , Tim Carney, conspires, Carney Organizations: Italy’s, , The Washington Examiner Locations: Italian, Alto Adige, South Tyrol, Italy
Their money concerns are misplaced"This couple is going to be extraordinarily wealthy over the course of their life," Sethi said in the newsletter. That amounts to "an abysmal and pitiful 4%" of their monthly take-home pay, Sethi wrote. "This couple lacks the creativity on how to spend money meaningfully," he wrote. With this couple, it has dramatically led them astray," Sethi wrote. "In my opinion, this is a pointless pursuit of wealth without building the skill of spending money meaningfully," he wrote.
Persons: Sethi, Rich, they're, that's, They're, It's, you'll, you've, I'm, We've, Ramit Sethi Locations: India
Opinion | Wes Moore’s Big Experiment for Maryland
  + stars: | 2024-04-04 | by ( Pamela Paul | ) www.nytimes.com   time to read: +1 min
Taking a gap year, or devoting a year to public service, whether to develop yourself or to serve a higher purpose, can be very alluring and, just as often, very impractical: How do you find the right opportunity, or fit it into your life, and most of all, swing it financially? Wes Moore of Maryland is trying to find a way to make it work for more people. One of the centerpieces of his administration is the newly established Department of Service and Civic Innovation, which includes a public service program with two arms, the Service Year Option, for Maryland residents within three years of high school graduation, and Maryland Corps, which is open to a range of applicants. Each provides access to entry-level positions at nonprofits and state agencies, as well as a small number of businesses with a strong service component, such as public health or community development. Participants are paid a minimum of $15 per hour and provided help with transportation and child care, which could otherwise keep out those with fewer support systems.
Persons: Wes Moore, Francis Scott Key, that’s, Moore Organizations: Gov, of Service, Civic, Maryland Corps Locations: Maryland, Baltimore
Since then, relative calm has returned to Alice Springs, or Mparntwe, its traditional name. Decades of racism and neglect erupted on the streets of Alice Springs on Tuesday, though youth crime is a problem in many other Australian cities. Those are the issues that are part of the story of Alice Springs,” Lawler said. “There is nowhere in the world that has said that a youth curfew is effective – it just criminalizes young people. Northern Territory Police Force Commissioner Michael Murphy speaks to media during a press conference in Darwin, Wednesday, March 27, 2024.
Persons: , Eva Lawler, they’re, , Alice Springs, Darren Clark, Alice, rampaged, , ” Clark, It’s, don’t, ” Lawler, Matt Paterson, Jared Sharp, that’s, ” Sharp, Michael Murphy, Neve Brissenden, Catherine Liddle, haven’t Organizations: Australia CNN, Northern, Sydney, Alice, North Australian Aboriginal Justice Agency, Sky News, Northern Territory Police Force, Reuters, Australia –, Torres, Guardian, of National Aboriginal, Islander, Northern Territory Police, Children Locations: Brisbane, Australia, Alice Springs, , Northern, Alice, Utopia, Darwin, Northern Territory, Torres Strait
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