Daily Digest

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Daily Digest 1/22 - Poverty Rises Among Young People, Worst Year For Spanish Jobs

Wednesday, January 22, 2014, 12:44 PM

Economy

EU sounds alarm on poverty among working-age people

It stated that finding fresh employment only helped people out of poverty in 50 percent of all cases as those who managed to land a job tended to work fewer hours or for lower wages than before. "Unfortunately, we cannot say that having a job necessarily equates with a decent standard of living," EU Employment Commissioner Laszlo Andor said in a statement. "A gradual reduction of unemployment is unlikely to be enough to reverse the increasing trend in poverty levels," he concluded.

Rise in ‘funeral poverty’ means more than 100,000 in UK cannot afford to die

The average price of arranging a funeral, burial or cremation service with state administration now stands at £7,622, and has risen by 7.1 per cent in the past year alone. Combined with the financial challenges faced by the poorest people in recession-hit Britain, it means the level of “funeral poverty” is up 50 per cent from three years ago.

Young people forming new and growing wave of homeless as rents and cuts bite (Ireland)

“After 30 years of working to eliminate homelessness, I believe the problem is now worse than ever, perhaps even out of control.” There are troubling signs that homelessness is getting worse. There has been a 50 per cent increase in the numbers sleeping rough in Dublin since last April.

UVA Study: One in 10 Virginians Receives Food Stamp Benefits

SNAP provides monthly subsidies to individuals and families in or near poverty, specifically for the purchase of food; a family of four in Virginia with a net monthly income of $1,963 or less is eligible for benefits. Individuals recently unemployed are eligible for only a limited time.

Kentucky food prices at all time-high

The Marketbasket Survey found that the cost of 40 basic grocery items was $120.08, which is about 3.9 percent more expensive than the $115.40 cost in 2012.

A store that ONLY sells 'expired' food? Former Trader Joe's president on his plan to make cheap, healthy groceries available to the masses

With his new store, Mr Rauch is mostly targeting the 15per cent of American households that are 'food insecure', which means they are unsure where their next meal will come from. He told Salon.com that far from trash, 'expired' food is an 'underrealized asset' that can help solve hunger problems in American if utilized efficiently. 'Most families know that they're not giving their kids the nutrition they need,' he explained. 'But they just can't afford it, they don't have an option.'

Ohio Governor declares statewide energy emergency

Kasich made this decision "in order to expedite shipments of propane gas and help ease tight propane gas supplies brought on by the recent cold spell," according to a news release. The problem is also being experienced in Michigan. Gov. Rick Snyder has also declared a statewide emergency because of the shortage.

TRIP report: Deficient roads, bridges cost Michigan motorists up to $1,600 a year in 'hidden' costs

Roughly 12 percent of Michigan bridges are structurally deficient, according to the TRIP report, meaning there is significant deterioration to major components. Another 15 percent are considered "functionally obsolete" because they do not meet current design standards.

Global unemployment jumped to nearly 202 million last year

The labor agency said the huge pool of workers who lost their jobs since the 2008 financial crisis has only widened in recent years. "If current trends continue, global unemployment is set to worsen further," the report said, estimating that global unemployment will climb to more than 215 million job seekers by 2018.

Spain’s Worst Year for Work Leaves Rajoy Counting Cost

Spanish Prime Minister Mariano Rajoy can count the social cost of the economy’s slump when data this week show how 2013 was probably the worst year for work in its democratic history.

Gold & Silver

Click to read the PM Daily Market Commentary: 1/21/14

Provided daily by the Peak Prosperity Gold & Silver Group

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