September 12, 2012 |
WASHINGTON -- Several years of rising poverty in the United States came to a halt in 2011 as more workers found full-time work, but overall household incomes on average continued a decade-long slide and inequality rose further last year, the government said Wednesday. The Census Bureau's annual report on income, poverty and health insurance coverage surprised analysts, who were projecting another tick up in the poverty rate, given the still-high unemployment rate and significant layoffs last year at local government offices.
April 18, 1991 |
People living along the East Coast enjoyed the fastest income growth during the record prosperity of the 1980s, the Commerce Department said Wednesday. At the top of the list were residents of New Jersey, whose per-capita incomes jumped an average 8% annually, to $24,968, between 1980 and 1990, according to a study by the department's Bureau of Economic Analysis. The national average was 6.5% annual growth, to $18,685, for the decade.
December 21, 2012 |
WASHINGTON - With the sudden collapse of House Speaker John A. Boehner's Plan B to avert most year-end tax increases, President Obama and congressional leaders face a daunting choice: compromise in the few days remaining before tax hikes and spending cuts kick in, or call it quits and soar off the "fiscal cliff. " Obama appeared in the White House briefing room late Friday to urge congressional leaders to at least prevent income tax increases on household income of less than $250,000, continue long-term unemployment benefits and delay the mandatory spending cuts set to begin in January.
November 19, 2012 |
Scientists may have discovered the secret to avoiding the fiscal cliff: Happiness. Regardless of whether money can buy happiness, being happy may actually make you more money down the road, new research finds. People who express more positive emotions as teenagers and greater life satisfaction as young adults tend to have higher incomes by the time they're 29, according to a study published Monday by the Proceedings of the National Academy of Sciences. The difference was so great that when measuring life satisfaction on a 5-point scale, a 1-point jump at age 22 made a $2,000 difference in income down the line.
June 25, 1993 |
A healthy 0.6% increase in personal income allowed Americans to save more in May, the government said Thursday, a signal of modestly improving economic prospects. The increase, to a seasonally adjusted annual rate of $5.3 trillion, was the sixth consecutive gain in personal income and would have been even stronger if not for a second consecutive decrease in federal farm subsidies, the Commerce Department said.
CALIFORNIA | LOCAL
February 12, 2012 |
More than 2,000 California Democrats gathered in San Diego this weekend for their state party convention, giving leaders a chance to rally the faithful and rub elbows with powerful, well-heeled interests. While hundreds of activists listened to Sen. Dianne Feinstein (D-Calif.) give a noontime address Saturday, Gov. Jerry Brown slipped away to a neighboring hotel to host a $25,000-a-plate lunch for a select group of contributors. The fundraising event, which was closed to the media but had about two dozen guests, according to some who attended, provided an intimate audience with the governor for lobbyists whose clients had opened their wallets to back Brown's proposed tax-increase initiative.