earned wage, tax braks — (Photo: fizkes/Getty Images)

by Sidnee Michelle

August 5, 2026

About 1 Out Of 3 Americans Have No Emergency Savings

The findings come as many Americans continue to grapple with higher housing, grocery, insurance, and healthcare costs

About 32% of Americans have no emergency savings, according to a recent survey, highlighting the financial pressure many households continue to face as elevated living costs, persistent inflation, and economic uncertainty make it difficult to build a financial safety net, Yahoo Finance reports.

The Empower survey findings come as many Americans continue to grapple with higher housing, grocery, insurance, and healthcare costs, leaving little room to save even as inflation has eased from its post-pandemic peak. Empower’s survey found that 39% of respondents identified rising prices as the biggest barrier to building emergency savings.

A separate Yahoo Finance-Marist poll painted a similarly concerning picture. The survey found that 35% of respondents said their savings would not last one month if they lost their primary source of income, underscoring how financially vulnerable many households remain.

The data also suggests that economic pressures, rather than irresponsible spending, are driving much of the nation’s savings shortfall. According to the poll, 47% of respondents cited the cost of living as the primary reason they struggle to save. Another 11% pointed to unexpected expenses, while 10% blamed changes in income or employment. An additional 10% said existing financial obligations limited their ability to save, and just 8% identified overspending as the primary cause.

Federal Reserve data shows the savings gap is especially pronounced among adults younger than 30 and people without a high school diploma, groups that generally report the lowest levels of emergency savings.

Without a financial cushion, many Americans rely on expensive forms of borrowing to cover unexpected expenses. According to the Financial Industry Regulatory Authority, 27% of consumers use credit cards to pay for emergencies, while 12% turn to personal loans. Financial experts warn that relying on high-interest debt to cover short-term expenses can create long-term financial challenges and make it even harder to build savings.

Some households also take on additional work or withdraw money from retirement accounts to cover emergencies. While those strategies may provide temporary relief, early withdrawals from retirement plans can trigger taxes and penalties while reducing long-term retirement savings.

Setting aside small amounts from every paycheck, directing future raises toward savings, using interest-bearing savings accounts, and temporarily reducing discretionary spending can help households gradually establish a financial cushion and reduce their reliance on debt when unexpected expenses arise.

AI, artificial intelligence, trends, technology, skills, HiBob, career advancement — (Image: iStock)

by Sidnee Michelle

August 4, 2026

AI Is Making Skills More Valuable Than Job Titles

The shift comes as AI automates more routine tasks and changes the skills employers value.

Artificial intelligence (AI) is changing how companies hire, train, and promote employees, prompting some workplace leaders to argue that developing skills—not climbing the corporate ladder—will become the new measure of career success, Fast Company reports.

What is “wildflowering” in career development?

Macaire Montini, vice president of People and Culture at human resources platform HiBob, believes employers should move away from rigid promotion tracks and instead build career development around employees’ individual strengths as AI continues to reshape the workforce.

Montini describes the approach as “wildflowering,” a concept centered on allowing careers to evolve based on employees’ abilities and interests rather than predetermined milestones or job titles.

“Instead of homogenizing, it actually is leaning into someone’s gifts,” Montini told the outlet.

Why are companies moving away from traditional career ladders?

The shift comes as AI automates more routine tasks and changes the skills employers value. At the same time, many organizations have flattened management structures, creating fewer leadership openings and making traditional career progression less predictable.

Rather than expecting employees to move directly from entry-level roles into management, Montini said companies should encourage workers to build experience across departments, projects, and responsibilities before advancing into leadership positions.

How should businesses introduce AI to their workforce?

She said organizations also need to rethink how they introduce AI into the workplace. Simply providing employees with new technology, she argued, is not enough if businesses fail to invest in training and collaboration.

“A lot of companies are giving people AI tools like musical instruments, and they’re expecting a symphony to come out of that,” Montini said. “People are going to be too busy trying to teach themselves how to use the clarinet … and not how to work harmoniously together.”

Are job titles losing their value?

Montini also questioned whether job titles should remain the primary indicator of career advancement. Instead, she said employees should be recognized for developing new capabilities that prepare them for future opportunities inside or outside their current organization.

“In the U.S., we have a lot of title inflation, because it’s been the only way to actually retain the employees that are job hopping that want to move up or out,” she said. “I really want to get us to a place where we make sure you have the skills that will make it here, or make it elsewhere, because we are looking at you as a whole person.”

As an example, Montini pointed to Microsoft’s neurodiverse hiring program, which she said demonstrates how organizations can design work around employees’ natural strengths instead of expecting everyone to follow the same career path.

How can organizations build resilience during AI adoption?

She acknowledged that adapting to AI will not look the same across the workforce, particularly as employees from multiple generations navigate rapidly changing workplace expectations. Still, she argued that employers have an opportunity to build more resilient organizations by investing in continuous learning instead of relying on traditional promotion models.

“Your job is going to change. The nature of your job is going to change,” Montini said. “We really need to invest in those people that are willing to take that journey with us.”

As AI continues to redefine the workplace, companies that prioritize workforce development and transferable skills may be better positioned to retain talent while preparing employees for jobs that continue to evolve.

Keke Palmer (Photo Courtesy of Revlon/Creme of Nature via Havas Formula PR)

by BLACK ENTERPRISE Editors

August 4, 2026

Keke Palmer, Creme of Nature, And BLACK ENTERPRISE To Bring Wellness And Leadership To Martha’s Vineyard African American Film Festival

BLACK ENTERPRISE and Creme of Nature are partnering to curate conversations around beauty, business, wellness, and leadership during the annual festival.

Keke Palmer is bringing more than star power to the Martha’s Vineyard African American Film Festival (MVAAFF). The Emmy Award-winning actress, singer, and entrepreneur will lead a two-day experience that blends beauty, wellness, and leadership at an activation curated by Creme of Nature in partnership with BLACK ENTERPRISE.

To close out the annual film festival, Creme of Nature’s “Unstoppable on the Vineyard” will serve as a hub for festivalgoers seeking inspiration, self-care, and community. The activation will include hair touch-ups, product sampling, celebrity stylist demos, and immersive experiences that celebrate textured hair on Aug.14 – 15. It will also include programming designed to spark meaningful conversations around confidence, intentional living, and healthy hair maintenance while creating a space where Black women can recharge and connect.

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At the heart of the activation is a live panel discussion titled “The Beauty of Balance: Finding Peace & Purpose in Leadership” featuring Palmer, Chandra Coleman, the SVP of Marketing at Revlon Hair, Emmy Award-winning hairstylist Angela C. Stevens, Creme of Nature Global Brand Director Nikia Bowman, and Selena Hill, the Director of Multiplatform Content at BLACK ENTERPRISE. Together, the panelists will explore the importance of balancing beauty and wellness with leadership, career success, and growth.

“My hope is that everyone walks away with new insights, a little inspiration, and the confidence to embrace their unique beauty on their own terms,” said Palmer, who was named Creme of Nature’s first chief brand officer in 2024, in a statement to VIBE. Since then, the multihyphenate entertainer has helped shape the brand’s storytelling and community engagement strategy. “I’ve always believed that confidence starts with owning your story, and for many of us, hair is a big part of that story,” she continued.

Creme of Nature will also spotlight holistic wellness through a guided meditation and breathing session led by integrative wellness expert Devi Brown and Palmer. Hosted by Hill, the session will serve to teach Black professional and entrepreneurial women techniques that help them prioritize mental health and mindfulness.

In addition, Creme of Nature will host an interactive audience Q&A with Stevens alongside celebrity hairstylist and natural hair educator Felicia Leatherwood, providing attendees with tools, insight, and information about maintaining healthy hair. Hill will also moderate a panel discussion between Stevens and Bowman that explores the evolution of natural hair, the impact of cultural shifts on beauty standards, and the relationship between healthy haircare and self-confidence.

For Black entrepreneurs, executives, and creatives attending MVAAFF, the “Unstoppable on the Vineyard” activation represents more than a beauty experience. Rather, it will serve as a space that fosters professional development, wellness, and community.

Black Future Newsstand , Chicago, media — Image: Pexels

by Ida Harris

August 4, 2026

[VIDEO]: Alfred Edmond Jr. Enters The Chat On Support For Black Media

The Black media landscape could be a force to reckon with ...

As the collective response to former NFL player and sports correspondent Ryan Clark’s downright disrespectful dismissal from ESPN makes its rounds across social media, BLACK ENTERPRISE‘s Chief Content Officer and EVP, Alfred Edmond Jr., enters the chat.

An interesting conversation on forming Black media conglomerates has bubbled up. The concept in a nutshell is that if Black media personalities and companies could just come together, the Black media landscape would be a force to reckon with—so much so that Black audiences would have no use for white media. The discussions, appearing on Instagram Threads, reveal just how little the public understands about how mass media operates or how it is funded.

It should come as no surprise that Black media outlets and media professionals have a steeper mountain to climb when it comes to success and sustainability in the media landscape, particularly when compared to their white counterparts. In the wake of George Floyd’s murder, advertiser spending with Black media has increased, but the total percentage of ad dollars spent, 1.6%, is abysmal.

In the following video, Edmond provides commentary on the myriad ways Black solidarity in the industry might look— and he offers an insider education on how media works.

RELATED CONTENT: ON THIS DAY: Black Media Was Born

by Sidnee Michelle

August 4, 2026

Metro Atlanta County Goes Full ‘Flock,’ Approves $18.9M Camera Program

County officials said the system is intended to help investigators identify stolen vehicles, locate suspects, and generate investigative leads.

DeKalb County officials have approved an $18.9 million investment in public safety technology that will expand the use of automated license plate recognition cameras and real-time investigative tools across the county.

County CEO Lorraine Cochran Johnson announced the launch of the Digital Shield initiative after the DeKalb County Board of Commissioners unanimously approved the funding. The initiative will deploy technology from Flock Safety, a public safety technology company that provides automated license plate recognition systems used by law enforcement agencies nationwide.

County officials said the system is intended to help investigators identify stolen vehicles, locate suspects, and generate investigative leads by capturing license plate data and sharing information in real time with participating law enforcement agencies.

“Digital Shield is about protecting every corner of DeKalb,” Cochran Johnson said in a statement. “This unprecedented investment gives our police department the tools to prevent crime, solve cases faster, and give residents the peace of mind they deserve. This is a defining moment for how we reimagine public safety in our county.”

According to the county, cameras will be installed at locations identified through public safety data, including major roadways, neighborhood entrances, and high-traffic intersections. Officials said the technology will integrate with DeKalb’s Real Time Crime Center and allow investigators to collaborate with neighboring jurisdictions that also use Flock Safety’s platform.

The county said the initiative will include policies intended to promote transparency, accountability, and responsible management of collected data.

The investment is part of a broader public safety strategy under Cochran Johnson’s administration. County officials said recent efforts have included increasing police officer pay and benefits, expanding recruitment initiatives, and investing in officer training and retention.

Cochran Johnson thanked the Board of Commissioners for unanimously approving the funding.

“I want to thank the Board for unanimously approving this investment,” she said. “With Digital Shield, and through our ongoing commitment to supporting and investing in our officers, DeKalb is taking bold steps to strengthen public safety and protect the security of our residents.”

Implementation of the Digital Shield initiative is expected to begin immediately, with county officials anticipating full deployment over the next year.

While automated license plate recognition technology has been adopted by hundreds of law enforcement agencies across the country to support criminal investigations and recover stolen vehicles, its use has also prompted ongoing discussions among privacy advocates about data retention, oversight, and civil liberties. DeKalb County officials said the Digital Shield initiative includes safeguards designed to ensure transparency and ethical use of the technology.

RELATED CONTENT: A Hub For The Unhoused Opens In Metro Atlanta

student loan forgiveness, fresh start program, idk, forgiveness, Connecticut student loans — (Photo: designer491/Getty Images)

by Sidnee Michelle

August 4, 2026

Student Loan Borrowers Could See Debt Erased Under $23B Settlement

The settlement would resolve a years-long legal battle

Hundreds of thousands of federal student loan borrowers are one step closer to having their debt canceled after a federal appeals court allowed a $23 billion settlement with the U.S. Department of Education to move forward, potentially expanding relief for borrowers who say their schools misled them, WEAU reports.

The Sweet v. McMahon Settlement resolves a years-long legal battle brought by borrowers who filed claims under the federal borrower defense program, which allows student loan forgiveness for students whose colleges engaged in deceptive or unlawful conduct. Plaintiffs alleged their schools falsely promised higher earning potential, transferable academic credits, and stronger career prospects to encourage enrollment.

The lawsuit also accused the federal government of failing to process borrower defense claims in a timely manner, leaving many applications unresolved for years despite borrowers meeting the program’s eligibility requirements.

A federal appeals court recently denied the Trump administration’s request to pause the processing of borrower defense applications, allowing the Education Department to continue reviewing claims covered by the settlement. The decision could ultimately make an additional 200,000 borrowers eligible for federal student loan cancellation if their applications are approved, adding to the roughly 450,000 borrowers already expected to receive relief under the agreement.

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The class-action lawsuit was filed in 2019 by an advocacy organization representing borrowers who argued the Education Department unlawfully delayed decisions on their claims. The case became one of the largest borrower defense disputes in the federal student loan system and spanned multiple presidential administrations before reaching the settlement.

According to the advocacy group behind the lawsuit, dozens of colleges accused of misleading students were named in the litigation. The allegations included false representations about job placement rates, credit transferability, and the value of academic programs. Many of the institutions cited in the case have since closed.

For eligible borrowers, the settlement could eliminate remaining federal student loan balances and resolve long-pending borrower defense claims. The latest court ruling also clears the way for the Education Department to continue reviewing outstanding applications, extending the possibility of debt relief to thousands more borrowers awaiting a final decision.

by Sidnee Michelle

August 4, 2026

AI Boom Is Driving Up Everyday Consumer Prices

The biggest impact has emerged in the energy sector.

The rapid expansion of artificial intelligence (AI) is fueling innovation across industries, but economists say it is also contributing to higher prices on everyday goods and services as companies race to build the infrastructure needed to power the technology, CNN reports.

While AI’s contribution to overall inflation remains relatively small, researchers say its growing demand for electricity, computer components, and construction materials is beginning to ripple through the broader economy, adding pressure to household budgets already strained by elevated costs.

Mark Zandi, chief economist at Moody’s Analytics, estimated that AI has added roughly 0.2 percentage points to inflation over the past year, translating to an additional $375 in annual household spending to purchase the same goods and services, according to the outlet.

The biggest impact has emerged in the energy sector.

The construction of massive AI data centers has sharply increased electricity demand, forcing utilities to expand capacity while competing for limited power supplies. Because new generating facilities often take years to build, demand has outpaced supply in many regions, contributing to higher residential electricity costs.

According to Bureau of Labor Statistics data, electricity prices remained above the overall inflation rate through the first half of 2026 despite a modest decline in June. Economists say continued investment in AI infrastructure is likely to keep upward pressure on utility costs.

The demand for AI infrastructure has also reshaped the semiconductor market.

Manufacturers have increasingly shifted production toward the high-performance memory chips required for AI servers and data centers, reducing supplies available for consumer electronics. Producer prices for semiconductors and electronic components climbed 26% year over year in June, reflecting tightening supply and strong demand, according to the outlet.

Those higher component costs are beginning to filter down to consumers. Several technology companies have raised product prices this year as hardware costs climb. Apple increased prices on select devices, while Microsoft and Sony also announced higher prices for gaming consoles, citing rising component expenses and broader market conditions.

Beyond electronics, AI’s rapid buildout is also increasing demand for construction workers and materials such as copper and electrical wiring.

Thierry Wizman, global foreign exchange and rates strategist at Macquarie Group, said wage growth in construction has outpaced broader labor market gains, suggesting the industry’s expansion is placing additional strain on labor supply. Those higher labor costs could eventually contribute to rising housing and commercial construction expenses.

Chance the Rapper, Chicago, New Year's Eve — Photo by Brendon Thorne/Getty Images for SXSW Sydney

by Kenneth Meeks

August 4, 2026

Chance The Rapper’s Relationship with Streaming Toppled Grammy Award Rules

How the first independent artist to win 3 Grammy Awards influenced an industry institution!

Chance the Rapper was the first artist to win three Grammy Awards who was not signed by a major record label. And while there were loopholes and offers to get his early music nominated, Chance rejected the proposals because it went against his mission to keep his music free to the public. He says his relationship with streaming was key. In his conversation with BLACK ENTERPRISE CEO Earl “Butch” Graves, Jr., for XCEL Summit for Men, Chance the Rapper revealed a side of himself that very few people see. He explained that he challenged the Grammy rules because he believed in himself and his path, despite the challenges against him. And in the end — he won. In fact, Chance believes he influenced the Grammy’s rule change that now allows other independent artists the opportunity to be nominated without selling a single song. Take a look.

Atlanta Dream, Indiana Fever — Photo credit: Ahsan Washington

by Edwian Stokes

August 4, 2026

Project B Disrupts Women’s Basketball With Equity, Ownership, and Black Women Board Leadership

A global basketball league is redefining athlete equity and corporate governance for Black women in the sports economy.

Women’s basketball is seeing record viewership, valuation increases, and major global investment. The 2023 NCAA women’s basketball championship drew over 9 million viewers, breaking records. WNBA games have a 20% year-over-year ratings increase this season. Franchise valuations have surged, with some teams valued at more than $100 million. The most significant changes are happening off the court, where equity and governance structures are being redefined in executive boardrooms.

Project B, an elite, athlete-owned basketball circuit modeled on a grand prix format, marks a pivotal change in an industry where Black women have long contributed significant labor and cultural value without proportional ownership or executive authority. By placing Black female leaders in core governance roles and granting players direct equity, Project B offers a strong model for financial empowerment in the global sports economy.

Women's basketball is growing. Ownership hasn't kept up.
Project B is creating a new model centered on women, specifically Black women, athlete ownership, and equity.
My latest for @Forbes @ForbesSports ⬇️⁰https://t.co/CX27LRUNWk

#WomensBasketball #SportsBusiness #ProjectB
— Dr. Allison Smith (@allisonbsmith15) July 22, 2026

Redefining Corporate and Sports Governance

According to McKinsey & Company, Black women hold only 7% of C-suite roles nationwide. The gap also exists in professional sports, where majority ownership remains predominantly white and male.

Project B intentionally moves away from traditional structures. Led by former WNBA champion and Chief Basketball Officer Alana Beard and co-founder Grady Burnett, the league has formed a predominantly female board of investors with accomplished corporate leaders. The governance team includes Robin Washington, board director at Alphabet and Salesforce, Merline Saintil, co-founder of Black Women on Boards, and sports icons such as Candace Parker and Grand Slam tennis champion Sloane Stephens.

Transforming Athletes into Equity Stakeholders

Project B features an athlete-investor model allowing players to earn multiyear equity stakes alongside competitive compensation. Equity is awarded based on tenure, participation, and individual performance milestones, with shares vesting incrementally over the term of their contracts. For example, athletes may receive an initial equity grant upon signing, with additional percentages vested each season as they meet criteria for games played or community involvement.

In a video feature, WNBA star Azzi Fudd explained that direct access to female board leaders offers valuable mentorship to expand her brand and ventures. Similarly, champion guard Jewell Loyd described her Project B investment strategy, showing how global tournament play and equity stakes support long-term financial empowerment.

A Tech-Driven Global Stage

Project B will operate as an international circuit, hosting two-week international tournaments from late 2026 through April 2027, in major cities such as Tokyo and Valencia. The league features a prominent international roster, including Jonquel Jones, Kamilla Cardoso, and Nneka Ogwumike.

Sports business analyst Allison Smith noted this effort comes at a key time of labor renegotiations and changing media consumption in women’s sports.

Gee's Bend Quilters, Ralph Lauren — Carol M. Highsmith via Library of Congress, Commons

by Selena Hill

August 3, 2026

Gee’s Bend Quilters Partner With Ralph Lauren For New Artist In-Residence Collab

The iconic fashion house is spotlighting the history and legacy of Alabama’s Gee’s Bend quiltmakers.

Ralph Lauren is spotlighting one of Black America’s most celebrated artistic traditions through a new collaboration with the legendary quilters of Gee’s Bend, Alabama.

As part of the company’s Artist in Residence program, the new line features acclaimed quiltmakers Claudia Pettway Charley and Loretta Pettway Bennett, whose original textile designs have inspired a limited-edition collection of apparel, accessories, home décor, and collectible pieces. The collaboration reflects the luxury fashion brand’s latest effort to partner with and highlight historically underrepresented artisans, reports Fast Company.

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For generations, the women of Gee’s Bend—a small Black community whose residents descend from enslaved people who worked a former Alabama plantation—have transformed discarded denim, work clothes, flour sacks, and fabric scraps into striking quilts now recognized as masterpieces of American art. Their work has appeared in the Whitney Museum of American Art and the Metropolitan Museum of Art.

“These quilts kept families warm when there wasn’t any heating in the house,” Pettway Charley told Fast Company. “They didn’t have money to buy new fabrics. So you think about the struggle, the hardship, and how they turned sorrow into something beautiful.”

Pettway Bennett also emphasized the importance of preserving the craft across generations. Referring to a red triangle stitched into one of her quilts, she explained, “That one red piece represents another bloodline that’s coming… Now it’s my turn to be the grandma. I am giving her a taste of what I had when I was growing up, passing down the legacy.”

The community is named after plantation owner Joseph Gee, who bought 6,000 acres of land in the area in 1816. Although the quilting practice began during slavery, Dinah Miller, who was captured in West Africa as a teenager and brought to Alabama in 1860, is often considered the mother of the movement, reports Wallpaper.

Gee’s Bend was later purchased in 1937 by the federal government, which allowed Black residents to buy back land through low-interest loans. Rev. Dr. Martin Luther King, Jr. also visited the historic community during the Civil Rights Movement in 1965 after ferry services were terminated to prevent inhabitants from voting.

In addition to celebrating Black craftsmanship, the Ralph Lauren x Gee’s Bend collection will support the Equal Justice Initiative’s hunger relief and direct assistance programs benefiting low-income families throughout Alabama, including Gee’s Bend. The collaboration also represents overdue recognition of Black cultural traditions that have historically been used as inspiration and even appropriated by luxury fashion labels. By placing Gee’s Bend artisans at the center of the collection, Ralph Lauren acknowledges the economic value of Black craftsmanship while helping preserve an artistic legacy that continues to influence American design.