Changing Jobs, Anxious About Retirement Savings, Municipalities Filing Bankruptcy, 20 Million Unemployed, Health Care Costs Up 9% For 2009, Stock Market Sale
Financial FYI: Interesting Financial News, Statistics, and Research.
Thinking About Changing Jobs or Careers?
The average employee now changes jobs 7 to 10 times in a career, with at least two or three of those moves being jumps to a completely different kind of business. Source: money.cnn.com Full Story
Anxious About Your Job And Retirement Savings?
One-third of Americans are worried about losing their jobs, half fret they will be unable to keep up with mortgage and credit card payments, and seven in 10 are anxious that their stocks and retirement investments are losing value, according to an Associated Press-Yahoo News poll of likely voters released Monday. Source: Yahoo.com Full Story
Municipalities and Bankruptcy, Is Your City Going Under?
According to a study by the law firm Mintz Levin, since the bankruptcy laws were written in 1934, there have been fewer than 600 filings for Chapter 9, which provides for the reorganization of municipalities. That’s about how many private sector Chapter 11 filings occur, on average, every two weeks. Source: money.cnn.com Full Story
20 milion People Unemployed
The global financial crisis will add at least 20 million people to the world’s unemployed, bringing the total to 210 million by the end of next year, the U.N. labor agency said Monday. Source: money.cnn.com Full Story
Health Care Costs Increase 9% For 2009
For 2009, nearly half of companies plan to push more health-care costs onto employees, often in less than transparent ways, according to HR consulting firm Mercer. There will be higher premiums, of course – on average, 8% higher, says Hewitt – but also increased deductibles and co-insurance. The bottom line is that workers’ total health-care spending will average $3,830, 9% more than in 2008, Hewitt estimates. Source: money.cnn.com Full Story
The Price Of Eggs In China
The average retail price of a dozen eggs, which had been stable for the better part of a decade, soared to $2.20 per dozen after climbing from $1.63 in 2007 and $1.30 in 2006, according to the Bureau of Labor Statistics. Egg producers blame the increase on surging feed and fuel costs while restaurateurs have filed a lawsuit on charges of price fixing. This is one of six separate suits facing the egg industry. Source: Businessweek.com Full Story
Stock Market Sale
Analysts at research firm Morningstar calculate a “fair value” for each of the approximately 2000 stocks they track. On average, those stocks now trade at about 72% of that fair value estimate, after hitting a low of 64% on October 10. That’s as low as the figure has gone since Morningstar began tracking it in 2001. The research firm has more five-star-rated stocks now than ever. Source: money.cnn.com Full Story
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