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The Illinois state law that would apply to the fictional Calvin Palmer Jr. requires would-be barbers to first acquire an occupational license, pass an exam, and spend 1,500 hours in training that can cost as much as $20,000. For perspective, $31,000 is the median annual earnings of an Illinois barber. This sad situation doesn’t make an appearance in the “Barbershop” movie, but it shouldn’t be ignored. Occupational licenses present obstacles for many aspiring workers and entrepreneurs across the country. They exist in all 50 states and apply to many professions besides hair care. The White House Council of Economic Advisors reports these licenses apply to more than one quarter of the U.S. workforce… These needlessly restrictive licenses have huge economic ramifications. Economic advisors working for President Obama found last year that occupational licenses raise the costs of goods and services by as much as 16 percent. These licenses have also resulted in 2.85 million fewer jobs, particularly for lower-income workers and people of color…
[MadameNoire]

Millennials Would Rather Travel Than Save For Retirement

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In a recent poll created by American Express Travel, surveyors revealed that they would rather focus on creating a “meaningful life” than spend time heavily investing in finances or careers. Forbes reports that millennials express the same sentiments when they have to choose between traveling and saving for their retirement. And while dropping everything and moving abroad sounds amazing now, Forbes notes that if and when millennials choose to delay saving for retirement, they’ll likely be sacrificing the opportunity to have a comfortable lifestyle when they become senior citizens. President and CEO of The American College of Financial Services, Robert R. Johnson, told Forbes time is the greatest ally millennials have when saving for a retirement fund, which should last more than 30 years. “Catching up is simply very difficult, as you can’t make up for lost time. If a 25-year-old invests $157 per month for 40 years and earns 10% interest, she will have accumulated $1 million at age 65,” Johnson shared…
[MadameNoire]

Usain Bolt Says He Got Curved By Rihanna

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Usain Bolt can relate to Matt Barnes‘ struggle, involving one the most beautiful people in the entertainment cypher. After shooting his shot in 2013, the world’s fastest man can officially say that his public plea for Rihanna’s attention failed miserably.
Bolt told TMZ Sports that he had the esteemed honor of getting curved by the bajan beauty. “She’s giving me no love, zero love” he said in a somewhat joking tone. “Drake’s getting all the love with ‘Work Work Work.’” It seems everybody wants a piece of Rihanna, but she remains happily single. The 28-year-old star was rumored to be dating Travis Scott earlier this year, and after the situation fizzled out of the news cycle, Drake came back into the picture. The Toronto rapper seemingly moved on from Serena Williams and went right back to gushing over Rih Rih…
[HipHopWired]


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