Business

Women bear the brunt of financial stress in the US economy, study says on November 16, 2023 at 11:00 am Business News | The Hill

Published

2 years ago

November 16, 2023

The economy looks a lot better than it did last year, but persistent inflation, ballooning debt and dwindling savings have hit women especially hard.

Nearly 6 in 10 women are living paycheck to paycheck, compared to 41 percent of men, according to a recent study by Varo Bank, Morning Consult and THRIVE Financial Empowerment Services of 1,004 Americans who regularly spend most or all of their income.

This economic strain is felt across the political spectrum, and Americans living paycheck to paycheck — regardless of party — cited the cost of living as their greatest financial concern.

Eroding savings and increasing debt round out the top three concerns for people living paycheck to paycheck, the study found.

“It’s impacting everyone,” Colin Walsh, founder and CEO of Varo Bank, told The Hill. “Sometimes you see political headlines and other things that would maybe lead you to believe there’s concentrations, but [financial stress] was pretty widespread.”

Making less than men affects the entire budget

Women represent two-thirds of those considered financially fragile, a subset of Americans living paycheck to paycheck who lack any financial slack or support.

“Women are still facing the brunt of not being as economically advantaged as men right now for a host of reasons that are generations old,” said Ayesha Whyte, the founder of Ellevator, an online platform that provides career development resources to women of color.

Whyte noted women have historically been paid less than men for the same jobs, leaving them with less surplus money to invest in the stock market or put in savings for an economic downturn.

“If you want to look at something more contemporary and recent, you can just look at the pandemic,” she added. “We’re still kind of recovering from that era. At that time, a number of women walked away from their jobs due to childcare duties at home.”

The Census Bureau’s Household Pulse Survey started during the pandemic to measure how it impacted people’s lives. As of mid-October, the survey found 39 percent of women had trouble paying for household expenses versus 35 percent of men, Marisa DiNatale, head labor economist at Moody’s Analytics, told The Hill.

“Women, generally speaking, are making less than men (on average) as they tend to be employed in lower-paying occupations than men and still bear the bulk of household and childcare responsibility, making them also more likely to be working part time or to have had gaps in their work experience which also affects pay,” DiNatale said.

Macy Norman, center, serves guests at Puckett’s Grocery and Restaurant in 2021 in Nashville, Tenn. The net worth of the typical U.S. household grew at the fastest pace in more than three decades from 2019 through 2022, when pandemic stimulus funds and low interest rates made it easier for households to pay their debts. Mark Humphrey / AP

Rising prices force some Americans to forgo basic needs

Economic hardship took center stage in last week’s Republican primary debate, with candidates blasting “Bidenomics” but offering few solutions to make life better for Americans.

Consumer outlook on the economy has also soured as their savings, once padded by pandemic-era stimulus payments, have been eroded by higher prices.

The Biden administration is grappling with stubbornly high inflation, which has fallen precipitously from its 9 percent year-over-year peak last June. New consumer price index data released Tuesday found prices were still 3.2 percent higher in October than they were a year ago, above the Federal Reserve’s 2 percent target for annual inflation.

The Fed has hiked interest rates to a range of 5.25 percent to 5.5 percent as part of its crusade to cool the economy and bring down inflation.

While the Varo Bank study points to financial institutions and the media that “focus heavily” on interest rates, rates are higher than they’ve been in two decades and make it significantly more expensive to borrow money, pinching Americans looking to buy a house, get a car loan or carry a credit card balance.

Nearly half of all respondents — 48.2 percent — said they had sacrificed at least one basic need in the past six months because of cost. Basic needs include doctor’s visits, medication, healthy food and safe housing. Twenty-eight percent went without at least two basic needs.

Younger people reported more difficulty asking for financial help, with 38 percent of Generation Z respondents saying they were embarrassed or ashamed to ask for support.

A doctor uses a Doppler probe on a pregnant woman to measure the heartbeat of a fetus in 2021 in Jackson, Miss. U.S. births were flat in 2022 as the nation continued to see fewer babies born than before the pandemic. (AP Photo/Rogelio V. Solis, File)

Trust in financial institutions falls

Heightened financial fragility has eroded trust in financial institutions, with nearly three-quarters of respondents saying they believe U.S. financial institutions are “rigged against the poor.”

Women, who are more likely to identify as financially fragile, were found to be less trusting of financial institutions than men.

Ethnicity did not correlate with a significant difference in trust, which surprised Walsh, who noted overall trust in financial institutions has been falling.

“The only truly surprising thing about the financial strain we are putting on youth, women and communities of color is how resilient they are and how entrepreneurial they remain,” Nathalie Molina Niño, co-founder and chief strategy officer at the financial services platform Known, told The Hill.

Despite the persistent divide, women’s economic situations have steadily improved from where they were at the start of the pandemic.

“Since the pandemic ended, women’s employment has grown quickly (especially since kids are back to in-person learning) and they have recouped all the jobs that were lost,” DiNatale said.

“Furthermore, there is some evidence that flexible work arrangements (including remote work) has improved job matching and now prime age women (those between 25 and 54) are participating in the labor force at higher rates than they ever have historically,” she added.

Business, Health Care, News, Policy, Technology, cost of living, financial stress, inflation, Interest rates, paycheck to paycheck, savings The economy looks a lot better than it did last year, but persistent inflation, ballooning debt and dwindling savings have hit women especially hard. Nearly 6 in 10 women are living paycheck to paycheck, compared to 41 percent of men, according to a recent study by Varo Bank, Morning Consult and THRIVE Financial Empowerment Services…

Business

Why 9 Million Americans Have Left

Published

2 weeks ago

October 8, 2025

Bolanle Media Staff

The Growing American Exodus

Nearly 9 million Americans now live outside the United States—a number that rivals the population of several states and signals a profound shift in how people view the American dream. This mass migration isn’t confined to retirees or the wealthy. Thanks to remote work, digital nomad visas, and mounting pressures at home, young professionals, families, and business owners are increasingly joining the ranks of expats.

Rising Costs and Shrinking Wallets

Living in the US has become increasingly expensive. Weekly grocery bills topping $300 are not uncommon, and everyday items like coffee and beef have surged in price over the last year. Rent, utilities, and other essentials also continue to climb, leaving many Americans to cut meals or put off purchases just to make ends meet. In contrast, life in countries like Mexico or Costa Rica often costs just 50–60% of what it does in the US—without sacrificing comfort or quality.

Health Care Concerns Drive Migration

America’s health care system is a major trigger for relocation. Despite the fact that the US spends more per person on health care than any other country, millions struggle to access affordable treatment. Over half of Americans admit to delaying medical care due to cost, with households earning below $40,000 seeing this rate jump to 63%. Many expats point to countries such as Spain or Thailand, where health care is both affordable and accessible, as a major draw.

Seeking Safety Abroad

Public safety issues—especially violent crime and gun-related incidents—have made many Americans feel unsafe, even in their own communities. The 2024 Global Peace Index documents a decline in North America’s safety ratings, while families in major cities often prioritize teaching their children to avoid gun violence over simple street safety. In many overseas destinations, newly arrived American families report a significant improvement in their sense of security and peace of mind.

Tax Burdens and Bureaucracy

US tax laws extend abroad, requiring expats to file annual returns and comply with complicated rules through acts such as FATCA. For some, the burden of global tax compliance is so great that thousands relinquish their US citizenship each year simply to escape the paperwork and scrutiny.

The Digital Nomad Revolution

Remote work has unlocked new pathways for Americans. Over a quarter of all paid workdays in the US are now fully remote, and more than 40 countries offer digital nomad visas for foreign professionals. Many Americans are leveraging this opportunity to maintain their US incomes while cutting costs and upgrading their quality of life abroad.

Conclusion: Redefining the Dream

The mass departure of nearly 9 million Americans reveals deep cracks in what was once considered the land of opportunity. Escalating costs, inaccessible healthcare, safety concerns, and relentless bureaucracy have spurred a global search for better options. For millions, the modern American dream is no longer tied to a white-picket fence, but found in newfound freedom beyond America’s borders.

Business

Will Theaters Crush Streaming in Hollywood’s Next Act?

Published

2 weeks ago

October 8, 2025

Bolanle Media Staff

Hollywood is bracing for a pivotal comeback, and for movie lovers, it’s the kind of shake-up that could redefine the very culture of cinema. With the freshly merged Paramount-Skydance shaking up its strategy, CEO David Ellison’s announcement doesn’t just signal a change—it reignites the passion for moviegoing that built the magic of Hollywood in the first place.

Theatrical Experience Roars Back

Fans and insiders alike have felt the itch for more event movies. For years, streaming promised endless options, but fragmented attention left many longing for communal spectacle. Now, with Paramount-Skydance tripling its film output for the big screen, it’s clear: studio leaders believe there’s no substitute for the lights, the hush before the opening credits, and the collective thrill of reacting to Hollywood’s latest blockbusters. Ellison’s pivot away from streaming exclusives taps deep into what unites cinephiles—the lived experience of cinema as art and event, not just content.

Industry Pulse: From Crisis to Renaissance

On the financial front, the numbers are as electrifying as any plot twist. After years of doubt, the box office is roaring. AMC, the world’s largest theater chain, reports a staggering 26% spike in moviegoer attendance and 36% revenue growth in Q2 2025. That kind of momentum hasn’t been seen since the heyday of summer tentpoles—and it’s not just about more tickets sold. AMC’s strategy—premium screens, with IMAX and Dolby Cinema, curated concessions, and branded collectibles—has turned every new release into an event, driving per-customer profits up nearly 50% compared to pre-pandemic norms.

Blockbusters Lead the Culture

Forget the gloom of endless streaming drops; when films like Top Gun: Maverick, Mission: Impossible, Minecraft, and surprise hits like Weapons and Freakier Friday draw crowds, the industry—and movie fans—sit up and take notice. Movie-themed collectibles and concession innovations, from Barbie’s iconic pink car popcorn holders to anniversary tie-ins, have made each screening a moment worth remembering, blending nostalgia and discovery. The focus: high-impact, shared audience experiences that streaming can’t replicate.

Streaming’s Limits and Studio Strategy

Yes, streaming is still surging, but the tide may be turning. The biggest franchises, and the biggest cultural events, happen when audiences come together for a theatrical release. Paramount-Skydance’s shift signals to rivals that premium storytelling and box office spectacle are again at the center of Hollywood value creation. The result is not just higher profits for exhibitors like AMC, but a rebirth of movie-going as the ultimate destination for fans hungry for connection and cinematic adventure.

Future Forecast: Culture, Community, and Blockbuster Dreams

As PwC and others warn that box office totals may take years to fully catch up, movie lovers and industry leaders alike are betting that exclusive theatrical runs, enhanced viewing experiences, and fan-driven engagement are the ingredients for long-term recovery—and a new golden age. The Paramount-Skydance play is more than a business move; it’s a rallying cry for the art of the theatrical event. Expect more big bets, more surprises, and—finally—a long-overdue renaissance for the silver screen.

For those who believe in the power of cinema, it’s a thrilling second act—and the best seat in the house might be front and center once again.

Business

Why Are Influencers Getting $7K to Post About Israel?

Published

2 weeks ago

October 2, 2025

Bolanle Media Staff

Influencers are being paid as much as $7,000 per post by the Israeli government as part of an expansive and sophisticated digital propaganda campaign. This effort is designed to influence global public opinion—especially among younger social media users—about Israel’s actions in Gaza and to counter critical narratives about the ongoing humanitarian situation.

How Much Is Being Spent?

Recent reports confirm that Israel has dedicated more than $40 million this year to social media and digital influence campaigns, targeting popular platforms such as TikTok, YouTube, and Instagram. In addition to direct influencer payments, Israel is investing tens of millions more in paid ads, search engine placements, and contracts with major tech companies like Google and Meta to push pro-Israel content and challenge critical coverage of issues like the famine in Gaza.

What’s the Strategy?

Influencer Contracts: Influencers are recruited—often with all-expenses-paid trips to Israel, highly managed experiences, and direct payments—to post content that improves Israel’s image.
Ad Campaigns: State-backed ad buys show lively Gaza markets and restaurants to counter global reports of famine and humanitarian crisis.
Narrative Management: These posts and ads often avoid overt propaganda. Instead, they use personal stories, emotional appeals, and “behind the scenes” glimpses intended to humanize Israel’s side of the conflict and create doubt about reports by the UN and humanitarian agencies.
Amplification: Paid content is strategically promoted so it dominates news feeds and is picked up by news aggregators, Wikipedia editors, and even AI systems that rely on “trusted” digital sources.

Why Is This Happening Now?

The humanitarian situation in Gaza has generated increasing international criticism, especially after the UN classified parts of Gaza as experiencing famine. In this environment, digital public relations has become a primary front in Israel’s efforts to defend its policies and limit diplomatic fallout. By investing in social media influencers, Israel is adapting old-school propaganda strategies (“Hasbara”) to the era of algorithms and youth-driven content.

Why Does It Matter?

This campaign represents a major blurring of the lines between paid promotion, journalism, and activism. When governments pay high-profile influencers to shape social media narratives, it becomes harder for audiences—especially young people—to distinguish between authentic perspectives and sponsored messaging.

As user trust in mainstream news decreases and social media’s power grows, understanding how digital influence operations work is critical for anyone who wants to stay informed and think critically about global events.

In short: Influencers are getting $7,000 per post because Israel is prioritizing social media as a battleground for public opinion, investing millions in shaping what global audiences see, hear, and believe about Gaza and the conflict.