Category: Economy
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How Much Does the Average American Earn Per Year?
According to the U.S. Bureau of Labor, the average annual salary in the United States in the fourth quarter of 2023 was $59,384. This represents a 5.4% increase compared to the same period in 2022, when the average American earned $56,316 per year. The average weekly salary reached $1,142, while the average American earned $4,949…
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Why Does Your Electricity Bill Keep Rising?
Electricity costs remain high and are alarming Americans. The latest inflation reading showed that the electricity index rose 3.8% in the last twelve months. This is largely because infrastructure costs have prevented utility companies from lowering prices. The industry is estimated to spend over $100 billion annually to maintain aging networks and invest in renewable…
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Israel Declares Lula ‘Persona Non Grata’ After Speech on the Holocaust
Israel’s Foreign Minister, Israel Katz, criticized President Luiz Inácio Lula da Silva again for his statements regarding Israeli operations in the Gaza Strip and the cut in humanitarian aid to the region’s inhabitants. Katz declared Lula persona non grata on social media. “We will not forgive and we will not forget — on my behalf…
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Brazil Loses Two of Its Greatest Business Minds in the Retail Sector
In just a few days in February, Brazil lost two of its brightest business minds in the retail sector. Luiza Trajano Donato, founder of the retail giant Magazine Luiza, passed away on February 12 at the age of 98, and Abílio Diniz, co-founder of Pão de Açúcar, Brazil’s largest supermarket chain, died on February 18…
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Moving to Florida? No! How About Puerto Rico?
Puerto Rico is becoming an increasingly popular destination for Americans looking to relocate, primarily for tax reasons. Although the island boasts promises of financial incentives aimed at attracting investors and entrepreneurs, the move brings challenges, including: difficulty navigating the complexities of the healthcare sector, education, and even purchasing goods like furniture. From 2021 to 2022,…
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401 (K) AND IRA: The Sad Reality of Retirement in the U.S.
The 401 (K) and IRA, two of the most popular retirement savings accounts, were created to help Americans save a little more for their so-called ‘golden years’. To this end, the federal government provides savers with tax incentives, which according to some economists result in a loss of about $200 billion per year in tax…
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Do You Know What the Most Visited City in the World Is? Hint: It’s Not Paris
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Did you think Paris was the most visited city in the world? It’s not anymore. The City of Light attracts many tourists every year and is at the top of the wish list for many international travelers, but it is no longer the most visited city in the world. Istanbul has stolen the crown, welcoming…
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Brazil Leads the Tourism Sector in South America
The volume of resources left by international tourists in Brazil in 2023 hit a new record — $6.9 billion — placing the country first in South America in sector revenues, according to a ranking of 20 countries released on Monday (5) by UN Tourism. Brazil also ranks second in post-pandemic recovery in the Americas, with…
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The American Economy Is Well Ahead in the Global Race
The economy of the United States grew faster than any other major advanced economy last year – by a wide margin – and is on track to repeat the feat in 2024. On Friday (2), the Department of Labor reported that the market added 350,000 new jobs last month and that unemployment in the country…
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Connecticut Will Become The First State To Cancel Medical Debt For Many Residents
Connecticut will cancel about $650 million in medical debt for around 250,000 residents this year, becoming the first state to provide this type of relief, Governor Ned Lamont announced on Friday (2). The effort will free many residents from a “cloud” over their heads, granting them the freedom to buy a home, start a business,…