Management
US Income and Wealth Inequality Facts – FT Alphaville and naked capitalism
Public opinion surveys consistently show pessimistic views of the economy for the broad mass of people. Growing numbers believe the Great Recession led to a permanent change in the economy, which is probably something less than true – with few exceptions, these wage and income trends have been consistent since the late 1970s. But the other questions in this Rutgers poll appear right on the mark. Almost eight in ten Americans knew somebody laid off between 2008-2012. For leading indicators like low unemployment, affordable higher education, and job and retirement security, the majority of Americans think they will never see positive progress for many years. Just 16 percent of respondents thought job and career opportunities would be better for the next generation, a figure nearly four times lower than from 1999.And we can chalk this up to the wisdom of crowds, because the public happens to be right. It is harder to get a job out of college. It is harder to avoid the trap of underemployment. It is harder to prosper in the career you want. It is harder to save amid stagnant wages. It is harder to grow as an economy when the gains flow to the top. It is harder to secure enough reserves for a dignified retirement.
Facts are facts and these are the facts.
The charts are ugly. But they tell us what we already know.
US income and wealth inequality facts of the day | FT Alphaville.
The Federal Reserve has just released its Survey of Consumer Finances for the year 2013.
These surveys occur every three years, so this is the first comprehensive update we have gotten about the distribution of income and wealth in the US since the economy hit bottom four years ago.
The most striking finding is that the median American family earned 5 per cent less in 2013 than in 2010 after inflation even though the average American family took home 4 per cent more.
AIG Suing Partner in ‘Life Settlement’ Investments – WSJ
AIG Suing Partner in ‘Life Settlement’ Investments – WSJ.
The life-settlements market suffered during the 2008 financial crisis when lending dried up for hedge funds. While many other investment markets have since recovered, the life-settlements market has remained depressed as life expectancies used by investors to gauge potential returns have repeatedly proved wrong; many people who sold their policies are living longer than investors anticipated.
VP International Life Insurance Underwriting
Job Description – VP, International Life Insurance Underwriting INT0008S.
Update 08.09.14
I’ve gotten several page views on this post before finishing my thought process. I totally forgot my posts here get published on LinkedIn too. Pretty efficient if you ask me. My plans are to post links to interesting jobs as I come across them. I know a lot of page views on this website are from fellow underwriters looking for work. So if you see a post with a job title description there will be a post and link to that position. Again, I hope you find what you’re looking for. Best of luck.
To Work Better, Work Less – The Atlantic
The Financial Risk of Living a Long Time
The Financial Risk of Living a Long Time
People nearing the end of their careers can potentially lose 5% to 10% of their retirement wealth, or the equivalent of 2 to 5 years’ labor, by failing to annuitize their savings or annuitizing too early, according to an estimate by Alessandro Previtero of Ivey Business School in Canada. By providing a guaranteed income for life, an annuity is essentially an insurance policy against outliving one’s retirement savings. In a study, Previtero found that when stocks are rising, people are less likely to purchase annuities offered by their employers.
This excerpt came through my RSS reader this morning. As an insurance guy, naturally I was interested. When I clicked on the link to take me to the original Harvard Business Review blog article I got a 404. So I went to Google and found the article linked below.
No, I will not speculate on the reasons why HBR took their post down. Read the article and let your imagination roam.
Mish’s Global Economic Trend Analysis: Employment Perspective in Pictures: Only 25% of Decline in Fulltime Employment Attributable to Aging Workforce
“The job of the leader isn’t just to make decisions, it’s to make sense.”
John Seely Brown
The Scary Charts in Mish’s article paint a vivid picture of where this country and economy are headed. It’s not a pretty picture.
US Marijuana Map
In China, White-Collar Workers Are Dying From Overwork – Businessweek
Boomer Report – NIH-commissioned Census Bureau Report
Email received and reproduced in its entirety.
NIH-commissioned Census Bureau report highlights effect of aging boomersData on individual, economic, social changes linked to dramatically aging populationWhile rates of smoking and excessive drinking have declined among older Americans, prevalence of chronic disease has risen, and many older Americans are unprepared to afford the costs of long-term care in a nursing home, according to a report from the U.S. Census Bureau commissioned by the National Institutes of Health. The report highlights those trends and others among America’s older population, now over 40 million and expected to more than double by mid-century, growing to 83.7 million people and one-fifth of the U.S. population by 2050. Population trends and other national data about people 65 and older are presented in the report, 65+ in the United States: 2010 (PDF, 12.0M). It documents aging as quite varied in terms of how long people live, how well they age, their financial and educational status, their medical and long-term care and housing costs, where they live and with whom, and other factors important for aging and health. Funded by the National Institute on Aging (NIA), part of NIH, the report draws heavily on data from the 2010 Census and other nationally representative surveys, such as the Current Population Survey, the American Community Survey and the National Health Interview Survey. In addition, data from NIA-funded research was included in the report. “The National Institute on Aging is pleased to support this 65+ in the United States report,” said Richard Suzman, director of the Division of Behavioral and Social Research at NIA. “This report series uniquely combines Census Bureau and other federal statistics with findings from NIA-supported studies on aging. The collaboration with Census has been of great value in developing social, economic and demographic statistics on our aging population with this edition highlighting an approaching crisis in caregiving — since the baby boomers had fewer children compared to their parents.” A key aspect of the report is the effect that the aging of the baby boom generation—those born between 1946 and 1964—will have on the U.S. population and on society in general. Baby boomers began to reach age 65 in 2011; between 2010 and 2020, the older generation is projected to grow more rapidly than in any other decade since 1900. The report points out some critical health-related issues:
“Most of the long-term care provided to older people today comes from unpaid family members and friends,” noted Suzman. “Baby boomers had far fewer children than their parents. Combined with higher divorce rates and disrupted family structures, this will result in fewer family members to provide long-term care in the future. This will become more serious as people live longer with conditions such as cancer, heart disease and Alzheimer’s.” Other areas covered in the report include economic characteristics, geographic distribution, social and other characteristics. See highlights below. “We hope this report will serve as a useful resource to policymakers, researchers, educators, students and the public at large,” said Enrique Lamas, the Census Bureau’s associate director for demographic programs. “We sought to develop a comprehensive reference with up-to-date information from a variety of reliable sources.” About the National Institute on Aging (NIA): The NIA leads the federal government effort conducting and supporting research on aging and the health and well-being of older people. The Institute’s broad scientific program seeks to understand the nature of aging and to extend the healthy, active years of life. For more information on research, aging, and health, go to www.nia.nih.gov. About the National Institutes of Health (NIH): NIH, the nation’s medical research agency, includes 27 Institutes and Centers and is a component of the U.S. Department of Health and Human Services. NIH is the primary federal agency conducting and supporting basic, clinical, and translational medical research, and is investigating the causes, treatments, and cures for both common and rare diseases. For more information about NIH and its programs, visit www.nih.gov. NIH…Turning Discovery into Health ************************************* 65+ in the United States: 2010 (PDF, 12.0M)
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