Again to an impossibly distant 2015. , the year that film comes to mind as i think about the changes we are seeing in how seniors approach work and retirement, the topic of todays hearing. For most of the past century, seniors have been withdrawing as americansforce came to view retirement as a time of uninterrupted rest and leisure that could last for decades. Ofthe year 2000, only 32 werecans age 55 and older still working, and the average age of retirement had dropped to just 63, but the babyboom generation has reversed this trend. Today, 40 of workers 55 and older remain in the workforce, a ratio not seen since the eisenhower administration. Remainingoomers are in the workforce longer for many reasons, but one leading reason is the need for Financial Security. Many americans today dont have the resources they need to live comfortably and retirement without working. It used to be said that Retirement Security was a threelegged stool, the first leg being an employerprovided pension,
Expected to grow modestly this year and a solid pace through the next few years. Although real adjusted inflation grew weekly in early 2015, the economy now appears to be on firmer ground and we expect the pace of Economic Activity to pick up over the next calendar year and the next few years. After that, we expect to see moderate to constrained early growth in the workforce. Real gdp will grow by 2 this calendar year, by 3. 1 in 2016, and by 2. 7 in 2017. Above its potential or maximum sustainable rate over that time frame. The economy will grow at an average rate of 2. 2 , equal to its real growth rate. This will be driven by consumer spending, business investment, and residential investment. Over the next few years, the faster pace in growth output is expected to reduce the quantity of underused resource, or slack, in the economy. The estimate was about 3. 4 in 2014. Cbo next to narrow that gap to its historical average by the end of 2017. Although labor Market Conditions continue t
Ten year steady, just south of 22, Industrial Production 15 minutes away we begin with wall streets record run stock futures mixed ahead of the open. Terror in london, 22 injured in an explosion on a london subway train during the rush hour commute and Facebook Advertising under scrutiny the social network revamping the selfservice ad byi inbuying pl. First up, the dow is aiming for another record high, a sixth straight positive session. The markets resiliency tested today. Retail sales fell unexpectedly in august by. 2, dragged down by autos. They couldnt isolate the effect of harvey on retailers then news of north korea firing that missile over japan for the second time into the ocean there will be Security Council meeting today. But on retail sales, interesting, nonstore, which is essentially amazon, down 11, the worst month since april of 14. Thats so out of whack with everything you hear. Lately the numbers i think have lost some degree of their validity i think by the way, i thin
Your money, your life, your future now, becky quick we begin with your privacy your personal Financial Data and hackers. By now youve heard about the equifax data breach where names and Social Security numbers of 143 million americans were exposed. Well have more on that in just a minute first, andrea day on new risks to your atm or credit card this weeks cover story is card sharks atm skimming is over a 2 billion problem globally. Reporter that cash swiped by hightech thieves when you swipe at the atm or gas pump they use skimmers or card readers to grab the info but these arent any ordinary skimmers. Things are definitely getting more sophisticated. Reporter if you think you can spot them, think again the latest gadgets are stashed deep inside. Its unbelievably easy. Reporter security expert Chris Hadnagy found this for sale on the dark web its as thin as a credit card. And it slides into the slot and down its not even detectable. Reporter this one uses blue tooth so criminals just c
Hackers. By now youve heard about the equifax data breach where napes and Social Security numbers of 143 million americans were exposed. Well have more on that in just a minute. First, andrea day on new risks to your atm or credit card. This weeks cover story is card sharks. Atm skimming is over a 2 billion problem globally. Reporter that cash swiped by hightech thieves when you swipe at the atm or gas pump. They use skimmers or card readers to grab the info. But these arent any ordinary skimmers. Things are definitely getting more sophisticated. Reporter if you think you can spot them, think again. The latest gadgets are stashed deep inside. Its unbelievably easy. Reporter security expert chris found this for sale on the dark web. Its as thin as a credit card. And it slides into the slot and down. Its not even detectable. Reporter this one uses blue tooth so criminals just connect to the blue tooth wireless, download all the ca act like youre pumping gas, and leave. Reporter another h