Long-term unemployment tumbled below its pre-pandemic level in July, the U.S. Department of Labor said Friday, as an unexpectedly strong showing of job gains buoyed workers broadly across the economy. Long-term joblessness is a period lasting at least six months. Those without work that long are exposed to more financial risks, since they’ve generally exhausted
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In this article TRU There’s no doubt Americans are falling deeper in debt. As prices jump across the board, consumers are increasingly relying on credit cards to make ends meet. The number of people with credit cards and personal loans hit record highs in the second quarter of 2022, according to TransUnion’s latest credit industry
Commuters and tourists exit a subway car May 26, 2022 in New York City. Robert Nickelsberg | Getty Images More Americans were working part-time and temporary jobs last month, which may herald future shifts in the shape of what today appears a robust jobs market. Hiring in July easily blew past expectations, suggesting a strong
In this article SPCE IRBT LYFT CVNA WBD Confetti falls as Lyft CEO Logan Green (C) and President John Zimmer (LEFT C) ring the Nasdaq opening bell celebrating the company’s initial public offering (IPO) on March 29, 2019 in Los Angeles, California. The ride hailing app company’s shares were initially priced at $72. Mario Tama
Sporrer/Rupp | Image Source | Getty Images Market drops may stoke retirees’ fears that they will no longer have enough assets to live on. But it turns out that may not be the biggest financial risk they should be watching for in retirement. Instead, longevity — the prospect retirees may live longer than expected and
The recently proposed Congressional Inflation Reduction Act of 2022 includes significant changes relating to electric vehicle credits. The proposal not only includes an extension of the electric vehicle credit, but also the phaseout of the credit for auto manufacturers making more than 200,000 electric vehicles is removed and income limitations for taxpayers claiming the credit
Topline The stock market fell Friday after the U.S. economy added back a better-than-expected 528,000 jobs in July, with investors now anticipating that a strong labor market will keep the Federal Reserve on its path of aggressive interest rate hikes to bring down inflation. Key Facts The Dow Jones Industrial Average was down 0.3%, over
In this article WBD Leslie Grace attends Warner Bros. Premiere of “The Suicide Squad” at The Landmark Westwood on August 02, 2021 in Los Angeles, California. Axelle/bauer-griffin | Filmmagic | Getty Images Investors are looking to Warner Bros. Discovery for details on its streaming strategy when the newly merged company reports second-quarter earnings after the
Check out the companies making headlines before the bell: Expedia (EXPE) – The travel website operator’s stock jumped 5.4% in the premarket after Expedia beat top and bottom line estimates in its latest quarterly report. Travel demand was strong, with lodging revenue up 57% from a year ago and airline ticket revenue up 22%. Block
There’s a lot of speculation lately about whether the U.S. is officially in a recession. Both President Joe Biden and Federal Reserve Chair Jerome Powell said we’re not there just yet, pointing to the strong labor market and rising wages. The official declaration typically comes from the National Bureau of Economic Research, and it has
The average rate for the most popular type of mortgage in the U.S. fell below 5% for the first time in four months, capping the biggest two-week decline in 35 years. The national average rate for a 30-year fixed home loan dropped almost a third of a percentage point to 4.99% this week from 5.3%,
Parents can traditionally claim their kids as dependents on their tax returns. You can’t claim your pets, although people have groused about that for years. Up until now, a person had to be born to qualify as a dependent, but in Georgia, taxpayers can now claim embryos as dependents, according to a Georgia Department of
Calpers, the nation’s largest public pension, recently unloaded about $6 billion of its stakes in private equity funds to second-hand buyers reportedly at a roughly 10 percent discount to their value. That suggests either the pension’s opaque private equity holdings were not truly worth $6 billion (likewise, its remaining $40 billion-plus in private equity holdings
In this article WBD David Zaslav, President and CEO of Warner Bros. Discovery talks to the media as he arrives at the Sun Valley Resort for the Allen & Company Sun Valley Conference on July 05, 2022 in Sun Valley, Idaho. Kevin Dietsch | Getty Images The biggest decision for any big media chief executive
Container trucks line up to enter the Port of Keelung in Keelung, Taiwan. Data show that Taiwan depends more on China for trade than it does on the U.S. Billy H.C. Kwok | Bloomberg | Getty Images BEIJING — Data show that Taiwan depends more on China for trade than it does on the U.S.,
Nosystem Images | E+ | Getty Images Student loan forgiveness could be coming as soon as this month. The Biden administration is considering a number of different ways to move forward with cancelling education debt. The biggest uncertainty is how much of the debt it will relieve, if any. On the campaign trail, President Joe
Many real estate analysts are forecasting U.S. house prices to fall because mortgage interest rates have risen so much. Some are expecting small declines, others, large, but most mention that house prices are “sticky” on the downside and because of that they don’t expect prices to start falling until many months after house sales have
On Sunday, July 31, 2022 Senator Joe Manchin of West Virgina did a “full Ginsburg” that is he appeared on the five major Sunday morning talk shows on the same day, including ABC’s This Week, Fox News Sunday, CBS’s Face the Nation, NBC’s Meet the Press, and CNN’s State of the Union. The reason for
The passing of the 2019 Secure Act changed the rules about when non-spouse beneficiaries must begin taking money from inherited retirement accounts. Starting in 2020, instead of stretching withdrawals over your lifetime, most investors inheriting an IRA from a parent were subject to a new “10 year rule.” This meant annual required minimum distributions (RMDs)
In this article BYND Vegetarian sausages from Beyond Meat Inc, the vegan burger maker, are shown for sale at a market in Encinitas, California, June 5, 2019. Mike Blake | Reuters Beyond Meat on Thursday lowered its revenue forecast for 2022 and announced it will trim its workforce by 4%, citing broader economic uncertainty. The