68% of Americans couldn’t cover their living expenses for even a month if they lost their job, survey finds. The good news? Now is the best time in years to fix that.
The median amount of cash saved by Americans under the age of 35, not including retirement funds, was just $3,240 last year, according to government data. istock Recession — and layoff — fears loom large over many households. Nearly half of U.S. adults feel the country is already in a recession, a Morning Consult report […]
No wonder Powell didn’t commit to extra hikes. Here are five reasons the January jobs report may be too good to be true.
Traders took heart that Fed Chair Jerome Powell, when he wasn’t being questioned by David Rubinstein on how he gets by on $190,000 per year, didn’t commit on Tuesday to having to be even more aggressive on interest rates given the huge 517,000 surge in nonfarm payrolls. Powell said rates would have to go even […]
Lawrence Summers and IMF director both say odds of soft landing for U.S. are improving
““It looks more possible that we’ll have a soft landing than it did a few months ago.”” Those were the words of former Treasury Secretary Lawrence Summers on Sunday, offering hope that the U.S. economy can avoid recession, but warning that inflation is still far too high. In an interview on CNN’s “Fareed Zakaria GPS” […]
‘Wow,” Fed’s Daly says after killer jobs report, but it doesn’t alter Fed’s inflation-fighting plan
The president of the San Francisco Federal Reserve said the huge increase in new U.S. jobs in January was a “wow” report, but she stressed the central bank needs more information before it decides how much further to raise interest rates. “What I am seeing is a strong labor market,” Mary Daly said in an […]
Fed Debates Whether Wages or Low Unemployment Will Drive Inflation
Fed officials face a fork in the road when forecasting inflation: Focus on moderating wage and price trends or persistently low unemployment? Source link
The Jobless Rate Is at a Half-Century Low. In These States, It’s Even Lower.
EconomyU.S. EconomyUtah and the Dakotas have historically low jobless rates; signs of broader labor-market cooling emerge Source link
Corporate Layoffs Spread Beyond High-Growth Tech Giants: WSJ
Dow, IBM and SAP say they will lay off thousands of workers as belt-tightening becomes the new business priority. Source link
The ‘best job in America’ pays over $120,000 a year — and offers a low-stress, healthy work-life balance
We’ve had the great resignation, quiet quitting, resistance to going back to the office — and now? It turns out people are looking for happiness, stability, flexibility and a good salary.In 2023, in the wake of the worst days of the pandemic, most U.S. job switchers and others seeking employment want to land a job […]
ADP says 235,000 private-sector U.S. jobs created in December
The numbers: Private-sector employment rose by 235,000 in December, payroll processor ADP said Thursday, in a sign that many companies are still hiring and the U.S. labor market remains strong. ADP reported a 182,000 increase in November. The increase in hiring was larger than expected. Economists polled by The Wall Street Journal had forecast a […]