Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

8/12/2014 (7 months ago)

Catholic Online (www.catholic.org)

National, international problems roil as Obama plays golf

Lots of negative news to go around - Ebola seems to be spreading worldwide, Islamic State is increasing its stranglehold on Iraq, a much beloved comedian and screen actor is found dead at home, an apparent suicide - U.S. President Barack Obama is in Martha's Vineyard, playing golf for a two-week vacation. Here's some more bad news: It's been recently learned that the median wages for the average American is down by as much as 23 percent.

The timing of Obama's swank vacation has even the president's supporters worried.

The timing of Obama's swank vacation has even the president's supporters worried.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

8/12/2014 (7 months ago)

Published in Business & Economics

Keywords: Wages, cities, U.S., Obama, vacation


LOS ANGELES, CA (Catholic Online) - Jobs growth in the U.S. since the 2008 recession has been undermined by lower wages, with workers earning an average 23 percent less than earnings from jobs which were lost.

That's the findings of a report by the United States Conference of Mayors, or USCM, an organization representing U.S. cities said on Monday.

SAVE Iraqi Christians from Genocide --


The average annual salary in sectors where jobs were lost, such as manufacturing and construction during the 2008-9 financial crisis was $61,637.

In addition, the report said that job gains through the second quarter of 2014 in comparative sectors showed average wages of $47,171, implying $93 billion in lower wage income.

The report also showed that the majority of metro areas, 73 percent had households earning salaries of less than $35,000 a year.

Overall, American workers, on average, earned $24.45 an hour in July, up only a penny from June. Over the past year, wages have grown just two percent, in keeping with where they have been stuck since late 2009.

There's even more disheartening news: U.S. jobs pay an average 23 percent less today than they did before the 2008 recession.

"Under a similar analysis conducted by the Conference of Mayors during the 2001-2002 recession, the wage gap was only 12 percent compared to the current 23 percent -- meaning the wage gap has nearly doubled from one recession to the next," the Conference of Mayors in a said in a statement. 

President Barack Obama has yet to comment on the dour economic findings. President Barack Obama is beginning a lavish Martha's Vineyard twelve day vacation at the 8,100-square foot mansion of Democratic Party donor Joanne Hubschman.

The timing of Obama's swank vacation has even the president's supporters worried.

"Even some of Obama's most ardent supporters are questioning the wisdom of this summer's sojourn as war roils Gaza and a wave of families and children are crossing the southwestern US border illegally," according to the Boston Globe.

---


Pope Francis: end world hunger through 'Prayer and Action'


Copywriter 2015 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for March 2015
Universal:
Scientists: That those involved in scientific research may serve the well-being of the whole human person.
Evangelization: Contribution of women: That the unique contribution of women to the life of the Church may be recognized always.


Rosaries, Crosses, Prayer Cards and more... by Catholic Shopping .com


Comments


More Business & Economics

Federal taxes unbelievably through the roof for February Watch

Image of Uncle Sam took in a lot of cabbage for the first few months of 2015. Why is the U.S. still trailing a momentous deficit, then?

By Catholic Online (NEWS CONSORTIUM)

Uncle Sam took in a lot of cabbage for the first few months of 2015. Inflation-adjusted federal tax revenues hit a record $1,185,613,000,000 in the first five months of fiscal 2015. Why is it that the U.S. federal government still ran a $386,537,000,000 deficit ... continue reading


Top 10 most financially important cities in the world Watch

Image of

By Hannah Raissa Marfil (NEWS CONSORTIUM)

New York City is still the most important center in the financial world, according to the latest ranking made by the Long Finance in The Global Financial Index 17. In the latest rankings, it was observed that more cities in Asia are becoming important within the world ... continue reading


Apple topples AT&T from Dow Jones in reflection of iPhone's dominant position Watch

Image of The move by S&P Dow Jones Indices had been widely anticipated since a seven-for-one stock split in June 2014.

By Catholic Online (NEWS CONSORTIUM)

Largest company in the world, Apple will join the Dow Jones Industrial Average to replace AT&T. The change reflects the dominant position of the iPhone maker in the U.S. consumer economy today. The figures tell the tale: Apple has a market capitalization of ... continue reading


'Underage Red': Sephora shocks consumers with inappropriately named lipstick shades Watch

Image of

By Hannah Raissa Marfil (NEWS CONSORTIUM)

With lipstick shades called "Underage Red" and "Lolita," the cosmetic retailer brand Sephora is under fire once again. Using names that refer to young girls being described in a sexualized manner, the lipstick shades grabbed the attention of shoppers, eventually ... continue reading


Oprah Winfrey sadly shuts down Harpo Studios forever Watch

Image of 61-year-old, Oprah Winfrey continues to play an active role in Hollywood, despite the ending of her talk show and now Harpo Studios.

By Abigail James (NEWS CONSORTIUM)

Oprah Winfrey is set to shut down production at her Chicago-based Harpo Studios by the end of 2015. After much thought, the billionaire mogul has decided production for her personal network OWN will be better done in Hollywood. LOS ANGELES, CA (Catholic Online) - The ... continue reading


SHINY, RED APPLE: Computer giant is now twice as big as world's second largest firm, ExxonMobil Watch

Image of Strong sales of the larger-screened iPhones resulted in the largest quarterly profit reported by a company, with device sales rising 29.5 percent in the final three months of 2014 to $74.6 billion,

By Catholic Online (NEWS CONSORTIUM)

How big is Apple? The creator of the iPhone and tablets is SO BIG that it is now currently twice as big as its second-closest rival, ExxonMobil. This is being reflected in the stock market, where shares in Apple jumped 2.7 percent at the start of the week to ... continue reading


WHERE IS YOUR MONEY GOING? Government collects $1 trillion from taxpayers - and there's still a deficit! Watch

Image of Where is all of our hard-earned money going?

By Catholic Online (NEWS CONSORTIUM)

Where is all of our hard-earned money going? Real federal tax revenues for the first time ever topped $1 trillion in the first four months of the fiscal year, October through January, according to data released Wednesday by the U.S. Treasury. LOS ANGELES, CA ... continue reading


80 MILLION Americans have their privacy invaded in Anthem data breach Watch

Image of An internal investigation, days later verified that the company was a victim of a cyber-attack, the company said, and federal authorities were alerted.

By Catholic Online (NEWS CONSORTIUM)

Insurance giant Anthem suffered a massive security breach when hackers broached computer safeguards and mad a wild data grab. Up to 80 million Americans have had their privacy effectively invaded, although authorities say more sensitive information was not ... continue reading


Electronic giant RadioShack files for bankruptcy - but will keep some stores open Watch

Image of The Chapter 11 filing, made in federal bankruptcy court in Delaware, surprised few. RadioShack had not turned a profit since 2011.

By Catholic Online (NEWS CONSORTIUM)

RadioShack, an iconic, 94-year-old electronics chain has filed for bankruptcy protection. The company has decided to sell up to 2,400 of its stores to the wireless service provider Sprint and a hedge fund that is its biggest shareholder. LOS ANGELES, CA ... continue reading


Is your bank account suffering? Here are 5 INCREDIBLY EASY TIPS on how to save money! Watch

Image of

By Abigail James (NEWS CONSORTIUM)

Saving money is not a simple task. It is hard to resist eating out or buying the hottest new music. How can your savings account grow when spending money is so easy in today's world? LOS ANGELES, CA (Catholic Online) - Whether you're planning on moving or looking to ... continue reading


All Business & Economics News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Daily Readings

Reading 1, Ezekiel 37:21-28
21 say, "The Lord Yahweh says this: I shall take the ... Read More

Psalm, Jeremiah 31:10, 11-12, 13
10 Listen, nations, to the word of Yahweh. On the ... Read More

Gospel, John 11:45-57
45 Many of the Jews who had come to visit Mary, and ... Read More

Saint of the Day

Saint of the Day for March 28th, 2015 Image

St. Venturino of Bergamo
March 28: Dominican preacher and missionary crusader. A native of Bergamo, ... Read More

Inform, Inspire & Ignite Logo

Find Catholic Online on Facebook and get updates right in your live feed.

Become a fan of Catholic Online on Facebook


Follow Catholic Online on Twitter and get News and Product updates.

Follow us on Twitter