Money
Women at Work: 'Pre-Apprenticeships' Boost Female Construction Workers; More Women Might Soon Be Able To Take Advantage of Similar Programs
She likes to say that she slept through the last 13 years of her life, and indeed, much of it is a blur: Abusive relationship. His-and-her arrests for domestic violence. Meth habit. A period of quasi-homelessness. A 37-day stint in jail for petty theft. She’s newly sober. She’s off cash assistance. She’s got a job temping and a place to call her own. She wants to work in construction. But the construction field is a hard one to crack, particularly if you’re female. Women comprise less than 3 percent of the trade workforce, roughly the same portion as 30 years ago. more »
Chairman Jerome H. Powell Delivers the Semiannual Monetary Policy Report to the Congress
"Strong job gains in recent years have led to widespread reductions in unemployment across the income spectrum and for all major demographic groups. For example, the unemployment rate for adults without a high school education has fallen from about 15 percent in 2009 to 5-1/2 percent in January of this year, while the jobless rate for those with a college degree has moved down from 5 percent to 2 percent over the same period. In addition, unemployment rates for African Americans and Hispanics are now at or below rates seen before the recession, although they are still significantly above the rate for whites. Wages have continued to grow moderately, with a modest acceleration in some measures, although the extent of the pickup likely has been damped in part by the weak pace of productivity growth in recent years. more »
Scam Alert: IRS Urges Taxpayers to Watch Out for Erroneous Refunds; Beware of Fake Calls to Return Money to a Collection Agency
The Internal Revenue Service warned taxpayers of a quickly growing scam involving erroneous tax refunds being deposited into their bank accounts. The IRS also offered a step-by-step explanation for how to return the funds and avoid being scammed. Following up on a Security Summit alert issued Feb. 2, the IRS issued this additional warning about the new scheme after discovering more tax practitioners’ computer files have been breached. In addition, the number of potential taxpayer victims jumped from a few hundred to several thousand in just days. more »
*FOIA Response from HUD Reveals 646% Increase in Foreclosures against Seniors in 2016; HUD Must Do Better Monitoring Servicers When They Report "Non-occupancy" As Reason For Foreclosing
In January 2017, the California Reinvestment Coalition and Jacksonville Area Legal Aid submitted a Freedom of Information Act request to the Department of Housing and Urban Development, seeking data about reverse mortgage foreclosures in HUD’s Home Equity Conversion Mortgage program, and about a new HUD program meant to keep widowed and widower non-borrowing spouses in their homes after the death of their spouse. New data indicates that there was a 646% increase in foreclosures last year against seniors with federally insured reverse mortgages as compared to the previous 7 years. more »