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Michelle Wright: The number of new folks who were entering the workforce1, who were putting money into 401K plans rose nearly 36% last year.
Carrie Lee: This is partly because more companies are automatically enrolling2 workers, on average over 67% of eligible3 workers do participate in the plans. The balances still remain pretty low, the average contribution level about 8% of annual salary, the median balance just over $27,000. A lot of people don't contribute enough to get the full company match either. They're basically giving away free money. CNN's Carrie Lee.
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Michelle Wright: The government is launching a new initiative designed to alleviate4 traffic congestion5 which is quite costly6 to the country, says Transportation Secretary Norman Mineta.
Normal Mineta: Cargo7 sitting on the dock at some overwhelmed seaport8 or airplanes that are circling overcrowded airports. Congestion is costing America an estimated $200 billion a year.
Michelle Wright: Mineta says the government will choose 3 to 5 areas to work on that have the greatest potential to relieve traffic congestion based on current and projected growth patterns.
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Michelle Wright: When you log on to Yahoo.com today, you'll get a brand new look, as they vie to strengthen their advertising9 appeal.
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Michelle Wright: Wholesale10 prices jumped 9/10 of a percent last month and Economic Insights President Fred Dickson says, those price hikes for energy and food prices are a big deal to customers.
Fred Dickson: Certainly, if you spend the money on gasoline, you spend the money on food as people have to, those are necessities, it means you're gonna spend less elsewhere.
Michelle Wright: The jump is the biggest it's been in 7 months.
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Michelle Wright: And there's been a clear slowdown in the housing sectors11, says National Association of Home Builder's Chief economist12 Dave Seiders.
Dave Seiders: Our builder surveys, er, our builder survey measures builder attitudes that have been eroding13 really since middle last year and we just issued our housing market index for May. And it's er, it's getting down there.
Michelle Wright: According to the Commerce Department housing starts fell 7.4% last month.
Michelle Wright: With CNN Radio in the marketplace, I'm Michelle Wright.
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WORDS AND EXPRESSIONS
overwhelmed: adj. 拥堵不堪的
get a brand new look: 面貌一新,焕然一新
vie: vi. 竞争
The 401k plan:
A type of retirement14 plan available in the United States. Named after a section of the 1978 Internal Revenue Code, a 401(k) is an employer-sponsored qualified15 retirement savings16 plan. It allows you to save for your retirement while deferring17 any immediate18 income taxes on the money you save or their respective earnings19 until withdrawn20. Comparable types of salary-deferral retirement plans include 403( B ) plans covering workers in educational institutions, churches, public hospitals, and non-profit organizations and 401(a) and 457 plans which cover employees of state and local governments and certain tax-exempt entities
1 workforce | |
n.劳动大军,劳动力 | |
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2 enrolling | |
v.招收( enrol的现在分词 );吸收;入学;加入;[亦作enrol]( enroll的现在分词 );登记,招收,使入伍(或入会、入学等),参加,成为成员;记入名册;卷起,包起 | |
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3 eligible | |
adj.有条件被选中的;(尤指婚姻等)合适(意)的 | |
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4 alleviate | |
v.减轻,缓和,缓解(痛苦等) | |
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5 congestion | |
n.阻塞,消化不良 | |
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6 costly | |
adj.昂贵的,价值高的,豪华的 | |
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7 cargo | |
n.(一只船或一架飞机运载的)货物 | |
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8 seaport | |
n.海港,港口,港市 | |
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9 advertising | |
n.广告业;广告活动 a.广告的;广告业务的 | |
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10 wholesale | |
n.批发;adv.以批发方式;vt.批发,成批出售 | |
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11 sectors | |
n.部门( sector的名词复数 );领域;防御地区;扇形 | |
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12 economist | |
n.经济学家,经济专家,节俭的人 | |
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13 eroding | |
侵蚀,腐蚀( erode的现在分词 ); 逐渐毁坏,削弱,损害 | |
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14 retirement | |
n.退休,退职 | |
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15 qualified | |
adj.合格的,有资格的,胜任的,有限制的 | |
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16 savings | |
n.存款,储蓄 | |
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17 deferring | |
v.拖延,延缓,推迟( defer的现在分词 );服从某人的意愿,遵从 | |
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18 immediate | |
adj.立即的;直接的,最接近的;紧靠的 | |
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19 earnings | |
n.工资收人;利润,利益,所得 | |
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20 withdrawn | |
vt.收回;使退出;vi.撤退,退出 | |
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