- Associated Press - Wednesday, October 15, 2014

BOSTON (AP) - Mayor Martin Walsh is embarking on a plan to address poverty and income inequality that includes new financial literacy center for residents.

Walsh announced Wednesday the launch of a new city Office of Financial Empowerment to help residents with job searches, training for career development and financial coaching. The office’s first two centers will be in Roxbury and in the Financial District. They are being paid for by the United Way and the Local Initiatives Support Corporation.

The mayor’s office says 46 percent of Boston households do not have enough savings to live for three months if they face a major life change such as losing a job or a medical crisis. The mayor’s office said that for African American and Latino households, that figure rises to 69 percent and 75 percent, respectively.

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