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Unemployment ticks down, labor market remains strong, latest numbers show
A month before voters cast their ballots, the U.S. Bureau of Labor Statistics released a report showing a strong labor market with growing wages, a lower unemployment rate, and the addition of 254,000 jobs to the economy. Eighty-one percent of registered voters say the economy is key to their vote for president this fall, according to a September Pew […]
When business is booming but daily living is a struggle
Editor’s note: This five-day series explores the priorities of voters in Arizona, Georgia, Michigan, Nevada, North Carolina, Pennsylvania and Wisconsin as they consider the upcoming presidential election. With the outcome expected to be close, these “swing states” may decide the future of the country. ROCKY MOUNT, N.C. — The signs on the empty historic buildings […]
The Fed says its long-awaited rate cut is apolitical, even close to the presidential election
The Federal Reserve’s first key interest rate cut in four years coincides with another major four-year event: the homestretch of the presidential election. Fed Chair Jerome Powell downplayed the central bank’s role in the race between Vice President Kamala Harris and former President Donald Trump on Wednesday, in announcing the half-percentage point cut in its […]
Inflation has slowed, but the economy remains a big issue for voters in picking a president
Inflation hit a three-year low last month, just as the presidential election is heating up. But the high cost of housing and other necessities will keep the economy central to both of the major campaigns, as seen this week in the first debate between Kamala Harris and Donald Trump. The Consumer Price Index, a measure […]
States are pushing back with anti-labor laws as union popularity grows, policy experts say
Growing union organizing across the country has triggered an anti-labor legislative response in some states, but cities and counties are increasingly pushing back, a new report found. The report, released this month by the New York University Wagner Labor Initiative and Local Progress Impact Lab, a group for local elected officials focused on economic and racial justice issues, […]
US credit card debt continues to rise as housing and other costs remain high for the lowest earners
Americans are racking up credit card debt as they struggle to keep up with the cost of living, and experts say those who earn the least are the hardest hit. Total credit card balances rose 5.8% from a year ago, to $1.14 trillion, according to a recent New York Fed report. Equifax credit files through June show […]
A look at how federal plans could make the costs of housing more affordable
As renters and would-be homeowners struggle with the high cost of housing, the Biden administration has announced policies to address this strain on household budgets. That includes $100 million in funding for a program to incentivize affordable housing production and streamlining loan application processes to expedite building more housing. Some of those proposals – such […]
Senators urge better access to disability payments for Long COVID patients
Several U.S. senators have called on the Social Security Administration to take steps to make it easier for people with Long COVID to access disability benefits, actions that disability rights advocates and patients say are desperately needed. Sens. Tim Kaine , Ed Markey, Tammy Duckworth, Bernie Sanders, Tina Smith, Angus King, and Richard Blumenthal signed the letter […]
U.S. home prices hit a record high as sales fell. Here’s how housing experts explain the trends
U.S. median home prices hit a record high for the second month in a row as sales continued to fall, according to a report released this week, as potential buyers continue to lie in wait for lower mortgage rates. Existing home sales fell 5.4% in June and median home sales reached its highest level on […]
Experts say the economy is getting better, but consumers don’t feel that way. Here’s why
Americans are still worried about their financial stability even as their recession fears lessen. High prices at the grocery store and consumers’ memories of their pre-pandemic budgets may be playing a role. Here’s what financial and economic experts have to say about what last week’s economic indicators tell us about people’s perception of the economy. […]
Federal Reserve declines to cut interest rates, saying it’s not clear inflation has slowed enough yet
The Federal Reserve declined Wednesday to cut interest rates, saying it remains uncertain inflation is slowing enough, but some economists warned the financial regulators risk waiting too long to make cuts. Fed Chairman Jerome Powell said the Fed has a lack of sufficient data that inflation is slowing enough to justify taking the pressure off […]
Know what an APR margin is? If you have credit card, it’s likely driving up your interest rate
You’ve probably heard of junk fees, as well as credit card late fees – the onerous banking fees you may incur as a credit card consumer. But there’s a lesser-known factor that could be driving up your credit card costs and placing your household at risk of further debt, as total U.S.credit card balances now […]