A CNBC analysis of cost-of-living data looked at how minimum wages compare to living wages. For families, the proposed $US15-per-hour minimum wage still falls short of a living wage. For single adults, the $US15 wage would bring about half of states to a living wage. Visit the Business section of […]

NYC, Los Angeles, and London house the highest number of individuals with net worths over $US30 million. New York takes the top spot globally, per a new report that includes second and third residences. There’s a problem for NYC, though: the ultra-rich may be choosing to primarily live – and […]

The US economy is set for “stellar” economic growth in 2021, Bank of America said in a note on Monday. The bank increased its 2021 US GDP growth estimate to 6.5% from 6.0% as it has become “more convinced” that the economy is set for a rebound after the COVID-19 […]

Urban studies theorist Richard Florida spoke to Insider about remote work and its impact on big cities and the economy. He said things will likely look as they did pre-pandemic, with a few key changes. This is his response, edited for length and clarity, as told to correspondent Hillary Hoffower. […]

Two new studies detail work-from-home trends during the pandemic and employees’ expectations for 2022. As many as 1 in 3 college-educated Americans expect to work partially from home post-COVID. But those with less education won’t get to work remotely in nearly the same numbers. Visit the Business section of Insider […]

Democrats are planning at least another $US2 trillion in stimulus spending, much of it on infrastructure. Senior Democrats support new taxes on wealthy Americans and large businesses to finance part of a follow-up package. Senate Republicans are likely to press for more targeted spending, and spark a clash in Congress. […]

Some high-profile economists fear Biden’s $US1.9 stimulus package will lead to inflation. But the Fed sees little inflation risk, and Wall Street increasingly agrees; the US hasn’t had high inflation in nearly 40 years. Since then, central bankers have come to think the US has developed better tools to handle […]

IHS Markit’s gauge of US business output rose to 58.8 in a preliminary February reading. The data marks the strongest rate of growth since March 2015. Revived activity in the service industry drove the bulk of the improvement. Manufacturers grew, albeit at a slower pace. Visit the Business section of […]

An Institute for Policy Studies paper looks at the rate of taxes on the richest Americans. From 1953 to 2018, the rate of taxation as a percentage of wealth on the top 0.01% has fallen 83%. The authors say that means the concentration of wealth has become “unavoidable.” Visit the […]

More millennials became homeowners than any other generation in 2020, per an Apartment List report. At the same time, more millennials now believe they will never own a home; 18% plan to rent forever. This disparity is evidence of a wealth gap between the “millennial rich” and “millennial poor.” Visit […]

Climate change is already costing financial systems and economies, Fed Governor Lael Brainard said. An inability to usher in a greener economy will exacerbate damage from climate catastrophes, she added. The Fed has recently taken major steps to cut down on climate risk in the financial system. Visit the Business […]

House Speaker Nancy Pelosi said Democrats were gearing up for a floor vote at the end of next week. She said they were communicating with the Senate to ensure the bill complies with budgetary rules. Democrats want to enact the package by mid-March before federal unemployment programs expire. Visit the […]

President Biden reiterated his support for a $US15 minimum wage on Tuesday. Some minimum-wage workers have been campaigning for the raise for years. Workers and economists say Biden isn’t just right on moral grounds – it’s good for the economy, too. Visit the Business section of Insider for more stories. […]

President Biden met with labour leaders on Wednesday to discuss job creation through new infrastructure. Biden emphasised his infrastructure proposals – which his campaign gave a $US2 trillion price tag. Republicans have pushed back on Biden’s spending plans, but bipartisan talks are beginning. Visit the Business section of Insider for […]

Stimulus and vaccinations improved Fed officials’ medium-term outlooks, FOMC meeting minutes showed. The central bank elected to hold interest rates near zero and maintain its pace of asset purchases. FOMC members also emphasised the importance of “clearly communicating” future policy changes. Visit the Business section of Insider for more stories. […]

Several key Democrats pushed back against Biden’s reluctance to cancel $US50,000 in student-loan debt per person. Warren, Schumer, and AOC called on Democrats to continue pressing the White House to take immediate action. “It’s time to act. We will keep fighting,” Schumer and Warren said. Visit the Business section of […]

The fight to raise the federal minimum wage to $US15 an hour is gaining major traction. Insider has been covering the potential impacts, value, and current wages. These five graphics show the current state of the minimum wage and what a $US15 minimum could mean. Visit the Business section of […]