The US Labor Department found weekly earnings rose by nearly ten percent for full-time Black workers in the third quarter of this year--the fastest rate of growth since 2000.
If current federal wealth-building policies remain in place, it will take the average African-American family 228 years to amass the same amount of wealth that white families have today and it will take Latino families 84 years to reach that goal, according to a new report from the Corporation for Enterprise Development (CFED) and the […]
If you’re African-American and planning a vacation, you may want to check out a hotel before booking Airbnb. Hosts on Airbnb haven’t exactly welcomed Black folks into their homes. Racial discrimination, according to a Harvard study, is rampant during online bookings, especially if hosts with Airbnb conclude that the folks who are booking are Black. […]
WASHINGTON (AP) — U.S. employers pulled back on hiring in April, adding 160,000 jobs, the fewest in seven months, after a streak of robust monthly gains. The unemployment rate remained at a low 5 percent, roughly where it has been since fall. Last month’s hiring gain marked a drop from the average increase of 200,000 […]
Tom: Today we are talking about market volatility, correct? Mellody: Yes we are! Since December, the stock market has experienced a period of volatility that has been unsettling to many investors. After all, until August the U.S. indices experienced a bull market that lasted over six and half years! Because of this, many have forgotten that some […]
Tom: This morning we are talking about low oil prices, is that right? Mellody: It sure is, Tom. This past week, the price of a barrel of oil fell again, and for the second month in a row is under $50 per barrel. We have not seen oil prices stay this low for this long […]
WASHINGTON (AP) — More jobs and cheaper gasoline come with a big, honking downside: U.S. roads are more clogged than ever now that the recession is in the rearview mirror. Commuters in Washington, D.C., suffer the most, losing an average of 82 hours a year to rush-hour slowdowns, a new study finds. Los Angeles, San […]
LOS ANGELES (AP) — Los Angeles is the latest and biggest city to endorse a hike in the minimum wage, adding to a string of successes for unions and advocates for the poor who have made it a primary objective as American wages stagnate. But even those who backed the City Council’s vote for a […]
WASHINGTON (AP) — Targeting stagnant wages in an otherwise improving economy, President Barack Obama on Monday called on employers, educational institutions and local governments to develop a home grown high technology workforce that could help drive up higher-income employment. The effort aims to attack a stubborn downside of the current economic recovery and fill what […]
Mellody is President of Ariel investments, a Chicago-based money management firm that serves individual investors and retirement plans through its no-load mutual funds and separate…
Mellody is President of Ariel investments, a Chicago-based money management firm that serves individual investors and retirement plans through its no-load mutual funds and separate accounts. Additionally, she is a regular financial contributor and analyst for CBS News. For iPhone: TOM: Good morning Mellody. You come bearing more good news this morning? MELLODY: I […]
Andre Champagne’s Hollywood Trucks LLC is one of the success stories. The Louisiana native launched the company in 2007 with a private partner and assistance through the state tax incentive program after moving back from Los Angeles. The company has grown annual revenue from about $600,000 in its first year to $5 million in 2013, […]
