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Family Dollar to Close Stores, Cites Low Consumer Demand

Family Dollar to Close Stores, Cites Low Consumer Demand

NEW YORK (AP) — Dollar stores are feeling the pinch from mounting financial pressures on low-income shoppers. Family Dollar said April 10 that it will cut jobs and close about 370 underperforming stores, as it tries to reverse sagging sales and earnings. The discount store operator will also permanently lower prices on about 1,000 basic [...]
A New America: More Higher- and Lower-Paying JobsWASHINGTON (AP) — A sense of belonging to the middle class occupies a cherished place in America. It conjures images of self-sufficient people with stable jobs and pleasant homes working toward prosperity. Yet nearly five years after the Great Recession ended, more people are coming to the painful realization that they’re no longer part of [...]
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Study: Full-Time Jobs Not Enough for San Diego Families  More than 300,000 households in San Diego County have adults who earn incomes so low that they are unable to meet basic monthly living costs, according to a report by the Center on Policy Initiatives and Insight Center for Community Economic Development.  Researchers found that 38 percent of working-age households in the county lack [...]
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Grassroots Campaign Helps End Bank’s Payday Lending  In the wake of a months-long campaign by community groups, Regions Financial Corp. announced the discontinuation of its “Direct Deposit Advance” payday lending product.  Community groups, including organizations in Missouri, Illinois, Iowa and Alabama, had argued these loans were predatory, believing that Regions Bank was taking advantage of its own struggling depositors. The loans [...]
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Analysts: Economy Benefits if Money Evenly DispersedWASHINGTON (AP) — The growing gap between the richest Americans and everyone else isn’t bad just for individuals. It’s hurting the U.S. economy. So says a majority of more than three dozen economists surveyed last week by The Associated Press. Their concerns tap into a debate that’s intensified as middle-class pay has stagnated while wealthier [...]
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In Limbo: 20-Somethings Still Feel Sting of Great RecessionWASHINGTON (AP) — U.S. mobility for young adults has fallen to the lowest level in more than 50 years as cash-strapped 20-somethings shun home-buying and refrain from major moves in a weak job market. Recent 2013 figures from the Census Bureau, which reversed earlier signs of recovery, underscore the impact of the sluggish economy on [...]
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Chicago Group Applauds Rules Limiting Payday Loans  A network of grassroots organizations is applauding guidance from the U.S. government last week that limits banks from issuing payday loans that could trap borrowers with debt that averages 300 percent.  Chicago-based National People’s Action (NPA) said it has been working on reining this debt level for months and welcomed the Nov. 21 decisions [...]
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Development Fund Needed in E. Kentucky, Group SaysEastern Kentucky has seen a decline in thousands of coal jobs in recent years and a distinct planning and development fund is needed to address the regional economy and poverty, a community group concerned about the area and Central Appalachia said last month. The Mountain Association for Community Economic Development (MACED) believes that public dollars [...]
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Coming Up in Congress: Sequestration and Budget TalksWASHINGTON (AP) — On this, GOP budget guru Rep. Paul Ryan and top Senate Democrat Harry Reid can agree: There won’t be a “grand bargain” on the budget. Instead, the Wisconsin Republican and the Nevada Democrat both say the best Washington can do in this bitterly partisan era of divided government is a small-ball bargain [...]
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Chicago Job Growth Needs to Benefit All, Group Says  Black and Latino workers from Chicago’s neighborhoods are being left behind from downtown job growth and city investments are benefiting white, college-educated residents from the city or the suburbs, according to a study released Tuesday. Researchers for Grassroots Collaborative analyzed Census Bureau and other data and found that more than $1.2 billion in subsidies [...]
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