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Monday, 17 March 2008 |
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Union membership saw an increase in 2007. According to the Bureau of Labor Statistics, for the first time in years, year-to-year membership rose. The number of workers belonging to a union jumped by 311,000. 15.7 percent of the workforce is in a union. Union membership had declined since 1983 when the bureau first began measuring union membership. In that year, it was 20.1 percent of the workforce. As the economy declines, employees are turning to Unions to gain a Voice in the workplace.
High U.S. Gas Prices Will Remain Throughout 2008
If you are hoping for oil prices to start retreating from the current high levels, you might as well give it up for the year. OPEC said yesterday that current geopolitical tensions and oil market speculation will keep us paying high prices at the pumps and hold the price of a barrel well above $100 for the majority of 2008. Specifically noted by OPEC as driving up oil prices is the quote-unquote, "mismanagement" of the U.S. Economy and the current stand-off between ExxonMobil and Venezuela. Home Foreclosures Hit All-Time High
More stormy weather for the economy as foreclosures hit an all-time high. 900,000 households are now in the process of foreclosure. According to Mortgage Bankers Association, that number is up a dizzying 71 percent over a year ago. 381,000 of those foreclosures started during the last quarter. And that isn’t the end of it. The number of borrowers who were 30 days late on payments in the last quarter of 2007 hit the highest since 1985 – a bad omen for the first quarter of 2008. Retiring This Year? Got $225,000 For Medical Costs?
If you are heading towards retirement, as we all are, someday, here is some sobering news. A couple retiring this year should have $225,000 in savings set aside to cover medical costs. That is according to Fidelity Investments who released the study on Wednesday. Fidelity isn’t the only one with such a projection. According to a study by the Center for Retirement Research, an individual retiring should have $102,000 set aside for healthcare in retirement. |
