President Joe Biden said at his first town hall that he will not cancel $US50,000 in student-loan debt. Congress should introduce legislation to cancel the debt, Biden has consistently said. Several leading Democrats believe Biden can act, using powers under the Higher Education Act. Visit the Business section of Insider […]

Every elected Democratic state treasurer is calling on Congress to approve $US350 billion in local and state aid. In a letter, treasurers outlined the impact the funding could have on jobs and vaccine efforts. Insider spoke to three state treasurers about their support for the funding. Visit the Business section […]

US retail sales grew 5.3% in January, the Census Bureau announced Wednesday. The reading beats the 1% economist estimate and snaps a three-month losing streak. Sales are a popular gauge of consumer spending, a critical driver of overall growth. Visit the Business section of Insider for more stories. American spending […]

Young adults don’t need to start saving for retirement until their 40s, a new NBER paper finds. That’s if you’re college-educated, expect steep income growth, and value other things over money. The paper based its findings on “total life satisfaction” rather than savings. Visit the Business section of Insider for […]

Top UK firms may make the COVID-19 vaccine mandatory for staff, the Financial Times reported. Large companies are considering contracts that require employees to get a shot when they’re available, law firms said. These companies include multinational businesses, the law firms said. Visit the Business section of Insider for more […]

President Joe Biden dismissed a Democratic plan to forgive up to $US50,000 in student-loan debt. “I will not make that happen,” he said Tuesday, adding he didn’t think he could do it unilaterally. The proposal was put forward recently by Sens. Elizabeth Warren and Chuck Schumer. Visit the Business section […]

Democrats are focused on approving Biden’s rescue package with Trump’s impeachment trial behind them. House Democrats say a floor vote could come late next week. The final legislation is being assembled over the next seven days. Visit the Business section of Insider for more stories. Democrats in Congress are ramping […]

Democrats are turning their attention to enacting Biden’s rescue package by mid-March. It’s garnered strong support from voters, but backing is virtually nonexistent from Republicans in Congress. Many Republicans argue the measure is too big and filled with liberal priorities like a cash payment program for parents. Visit the Business […]

House Ways and Means extended extra unemployment benefits through August, rather than September. Experts and lawmakers argue that Americans need at least six months of jobless pandemic relief. Pension funding diverted money from unemployment aid, an economist says. Visit the Business section of Insider for more stories. President Joe Biden […]

The White House announced the extension of the moratorium on home foreclosures through June 30. The extension will help the 10 million Americans who fell behind on mortgage payments during COVID-19. Biden called on Congress to pass his stimulus to give more relief to renters and homeowners. Visit the Business […]

Fast-food will strike on Tuesday for a $US15 minimum wage and better COVID-19 safety measures. Care workers will also protest in support of the wage rise. Doubling the minimum wage to $US15 is part of Biden’s $US1.9 trillion stimulus proposal. Visit the Business section of Insider for more stories. Fast-food […]

Over 10 million Americans are still unemployed, and many are not too hopeful about finding work. A Pew survey found only about half of unemployed Americans are optimistic about finding a job soon. The pandemic and economic slowdown have also been hard on Americans’ mental health, per the survey. Visit […]

Democrats are currently pushing to increase the minimum wage to $US15 an hour by 2025. That means minimum-wage workers will see pay rise incrementally. Insider looked at what $US15 in 2025 would be equivalent to today, adjusting for inflation. Visit the Business section of Insider for more stories. There’s currently […]

A Morning Consult report found that 22.6 million Americans will be able to pay their bills through mid-July with $US1,400 stimulus checks. The report recommended lower income thresholds, increased child payments, and extended unemployment aid to mitigate risks that the pandemic could bring. The House Committee on Ways and Means […]

Over 60 economists signed a letter urging President Joe Biden to include a path to citizenship for undocumented immigrants as part of his infrastructure plan. The group said that the policy would boost economic growth and improve wages for all Americans. Biden began infrastructure spending talks with a group of […]

The University of Michigan’s consumer sentiment gauge fell to 76.2 from 79 in February. The reading is the lowest since August and driven by a plunge in economic expectations. Households earning less than $US75,000 also dragged on the index, according to the Friday report. Visit the Business section of Insider […]

A chart from Bank of America Research analysts how the S&P 500 is booming. It also shows a stark disconnect from the rest of the economy. While the economy is projected to grow, unemployment is likely to stay high. Visit the Business section of Insider for more stories. A Tuesday […]

The Congressional Budget Office expects federal debt to reach 102% of US GDP in 2021. The estimate doesn’t account for the $US1.9 trillion stimulus plan Democrats are set to pass. The CBO sees the debt pile then shrinking for a few years before rising into the next decade. Visit the […]

Joe Biden could nominate economist Lisa Cook to fill a vacancy on the Fed’s Board, Axios reported. Cook would become the first Black woman to serve on the board if she is nominated and confirmed. The White House has not yet contacted Cook for the job opportunity and an announcement […]

US jobless claims totaled 793,000 last week, down slightly from the previous week’s revised total of 812,000. The reading landed above the economist estimate of 760,000 claims but still marks a fourth straight weekly decline. Continuing claims fell slightly to 4.5 million for the week that ended January 30. Visit […]

Washington State legislators have proposed a 1% tax on billionaires. Four billionaires, who collectively own $US480 billion, would account for most of the tax revenue. But to avoid paying up, they just need to live elsewhere for 183 days a year, according to a tax group. Visit the Business section […]

The pandemic’s damage to the labour market unevenly hit low-wage, Black, and female workers. A Fed study found minorities and those making less than $US30,000 saw outsize drops in employment last spring. The employment disparities have closed considerably as the labour market healed. Visit the Business section of Insider for […]

January’s jobs report shows that women continue to be disproportionately impacted by unemployment. Black and Latina women both have a higher unemployment rate than the average. Women have lost 5.3 million jobs since the start of the pandemic. Visit the Business section of Insider for more stories. A new analysis […]

Congressional Democrats are encouraging people to file taxes early this year. Sen. Ron Wyden tweeted that people who lost jobs or income should report their 2020 income “ASAP.” Biden’s proposal would provide a $US1,400 check to individuals earning $US75,000 and under and couples earning $US100,000 and under. Visit the Business […]

The Congressional Budget Office projects that raising the minimum wage to $US15 an hour will increase the budget deficit by $US54 billion. 900,000 fewer people would live below the poverty line with the wage increase, while employment would be reduced by 1.4 million workers. Under the Raise the Wage Act, […]

Over 50 House Democrats urged Biden to maintain the $US75,000 income threshold for stimulus checks. Congress has been split over whether to lower the threshold for who receives a check. Progressive lawmakers say lowering the threshold will cut out struggling people from getting aid. Visit the Business section of Insider […]

Treasury Secretary Janet Yellen said US workers earning up to $US60,000 should get direct payments. The question of who should receive payments under Biden’s relief package is a key debate in Congress. If Biden’s $US1.9 trillion package is passed, the US would return to full employment by 2022, Yellen said. […]

Yellen said regulators are looking in detail at January’s Reddit-fuelled market frenzy. They will make policy decisions, including the possibility of new regulations, from those facts. Despite the volatility, the infrastructure of the markets “performed well,” she said. Visit the Business section of Insider for more stories. Treasury Secretary Janet […]

GOP Sen. Pat Toomey said another stimulus package would be “inappropriate.” Toomey said the “economy has come roaring back,” despite a bleak jobs report earlier this week. Democrats are inching to pass a $US1.9 trillion relief package with stimulus checks in the amount of $US1,400. Visit the Business section of […]

Democrats recently introduced a bill to raise the minimum wage to $US15 an hour by 2025. One common metric to look at what the minimum wage should be is the Kaitz index. The following maps show how much the minimum wage in every state compares to 2019 median wages. Visit […]

The US only added 49,000 jobs in January, far below the expected number of job gains. The following chart shows how employment in different industries has changed since February 2020. Motion picture and sound recording industries are the farthest below their pre-pandemic employment. Visit the Business section of Insider for […]

January’s payrolls report showed disappointing job gains and more Americans leaving the labour force. The report amplified calls backing President Biden’s $US1.9 trillion stimulus plan. The absence of new aid risks permanent labour-market scarring, a former Fed economist said. Visit the Business section of Insider for more stories. The January […]

A GOP group sent a letter to President Joe Biden on Thursday citing unspent emergency COVID-19 relief funding. The letter said that the previously allocated funds should be spent before adding more through Biden’s stimulus plan. A budget resolution passed early Friday morning that allows Democrats to move forward with […]

Workers making under $US15.30 an hour saw greater losses at the pandemic’s start and a slow recovery. BofA calculates $US15.30 an hour as the US median wage. It’s another entry in the pandemic story of a K-shaped recovery. Visit the Business section of Insider for more stories. Workers who earned […]

The US added 49,000 jobs in January, missing the estimate of 105,000 additions. It was a reversal from the 227,000 payrolls lost in December, the first decline in seven months. The unemployment rate dropped to 6.3% from 6.7%, beating forecasts. Visit the Business section of Insider for more stories. The […]

Democrats are making a big push to increase the federal minimum wage to $US15 an hour. They want to pass the measure without Republican support, through budget reconciliation. Economists are mixed about the raise’s potential impact on the economy, especially during the pandemic. Visit the Business section of Insider for […]

Millennials who fled big cities are turning to co-living spaces in small towns, The WSJ reported. Co-living spaces have often targeted young urban professionals in big cities looking to save money. They have evolved during the pandemic in terms of location and motivation. Visit the Business section of Insider for […]

There’s an “urgent need” for stimulus as the US faces “tough months,” Treasury Sec. Yellen said. New economic aid can serve as a bridge before herd immunity is achieved, she added. The department is looking into the GameStop-trading saga and could take action, Yellen said. Visit the Business section of […]

Sen. Mitt Romney of Utah released a proposal on Thursday to provide $US350 monthly child benefits. This plan contrasts with legislation Democrats have already drafted to provide $US300, fully refundable, monthly child tax credits. A former policy advisor to Congress’ Joint Economic Committee said that Romney’s plan is more financially […]

A new poll finds that most Americans support immediate and large emergency relief. Both the immediacy and size of a package have bipartisan support. A slim majority of Americans support congressional Democrats moving forward without GOP support. Visit the Business section of Insider for more stories. A new poll from […]

US jobless claims reached 779,000 last week, down the previous week’s revised total of 812,000. In an encouraging sign for the labour market, the number fell short of the 830,000 claims expected by economists. Continuing claims fell to 4.6 million for the week that ended January 23. Visit the Business […]

The Penn Wharton Budget Model found that President Joe Biden’s stimulus plan would provide over $US3,000 in benefits to the poorest American households. The direct stimulus payments, expanding the child tax credit, and expanding the Early Income Tax Credit, would provide direct aid to 99% of the bottom households. Spending […]

The Treasury Department said Wednesday the pandemic continues to cloud its future borrowing needs. Debt issuance ramped up in 2020 and will continue to do so as expenses mount, the department said. Still, the Treasury’s cash balance needs to be reined in ahead of a key debt-ceiling deadline. Visit the […]

Wealthy couples breaking up spend as much as $US20,000 a day for private judges, reported The New York Times. Pandemic divorces are on the uptick, as couples reckon with unhappy marriages during quarantine. Political, parenting, and financial differences are the main sources of contention. Visit Business Insider’s homepage for more […]

The US gained 174,000 private payrolls in January, according to ADP’s monthly employment report. The data follows a revised 78,000-payroll contraction in January and lands above the 70,000 estimate. ADP’s report comes two days before the Bureau of Labour Statistics publishes nonfarm payrolls data. Visit the Business section of Insider […]

The Congressional Budget Office projects that unemployment won’t drop to pre-pandemic levels for a decade. But an additional stimulus could have a major impact on unemployment. Economists say the projections show the need for more relief. Visit Business Insider’s homepage for more stories. The US unemployment rate may not reach […]

Last week, a group of 10 Republican senators introduced a $US618 billion stimulus proposal to counter the $US2 trillion plan President Joe Biden introduced. There are notable ommissions in the GOP plan, including a federal minimum wage increase, extended unemployment insurance, and aid to renters. Biden will meet with the […]

Democrats introduced the Raise the Wage Act of 2021, where the minimum wage would gradually increase to $US15 per hour, starting with an increase from $US7.25 to $US9.50 this year. The Economic Policy Institute notes that this will raise wages for 32 million workers. The value of $US15 varies across […]

Day traders organised on a Reddit thread led the GameStop mania, an unprecedented situation in financial markets. Day trading really took off with the 1990s tech boom, and continues to evolve along with trading technology. The combination of day trading with Reddit may prove transformative, with the GameStop saga the […]

Sen. Elizabeth Warren’s renewed calls for a wealth tax centre on the “suffering” of the K-shaped recovery. The wealth tax was a major plank of Warren’s presidential campaign. Throughout the pandemic, wealth taxes have become more popular in efforts to provide relief. Visit Business Insider’s homepage for more stories. In […]

Sen. Elizabeth Warren of Massachusetts emphasised the need for a wealth tax during an interview with CNBC on Thursday. Warren said that the stock market is like a “casino” and is not reflective of the actual economy, hurting Americans who are suffering during the pandemic. Establishing clearer SEC guidelines for […]

Of those earning $US100,000 or more, 59% have increased their savings during the pandemic, MagnifyMoney found. Only 28% of those making less than $US35,000 saved more. It’s evidence of America’s K-shaped recession, in which the wealthy are recovering and others are struggling. Visit Business Insider’s homepage for more stories. High […]

President Joe Biden’s proposal to establish a fully refundable tax credit has received mixed responses from experts and lawmakers. Critics of the plan argue that fully refundable tax credits will not effectively address child poverty in the country and will create administrative confusion. However, the credits have already received broad […]

President Joe Biden will end the Mexico City policy, which prohibits foreign nongovernmental groups from using federal funds for abortions, as part of his healthcare executive actions on Thursday. The Mexico City policy has remained highly partisan over the years, and with federal funding for abortions being banned under Trump, […]

US gross domestic product grew at an annualized rate of 4% in the fourth quarter, the Commerce Department said Thursday. Economists surveyed by Bloomberg expected growth to come in at 4.2%. The gains come after economic reopening drove a record-high growth rate of 33.1% in the third quarter. While the […]

New US jobless claims for the week that ended Saturday totaled 847,000, down from the previous week’s revised total of 914,000. Economists surveyed by Bloomberg expected claims to dip to 875,000. Continuing claims, which track Americans receiving unemployment benefits, sank to 4.8 million for the week that ended January 16. […]

Sec. of Energy nominee Jennifer Granholm expressed support for President Joe Biden’s plan to create jobs through fighting climate change during her confirmation hearing on Wednesday. Biden signed a series of executive orders on Wednesday to address climate change, with job creation as a central component. Granholm reassured Republican lawmakers […]

About a fifth of US workers could see raises under a $US15 federal minimum wage, research finds. That includes nearly a third of Black American workers, the Economic Policy Institute says. The wage bump, facing pushback, is part of President Joe Biden’s $US1.9 trillion stimulus proposal. Visit Business Insider’s homepage […]

About 10% of companies expect that all their staff will eventually go back to the office, a new report suggests. The report presents the responses of 97 National Association for Business Economics members from various sectors. About half of respondents plan to suspend their stay-at-home policies in the second half […]

Democrats are introducing the Raise the Wage Act, which would increase the federal minimum wage to $US15 an hour by 2025. An increase to the minimum wage is also part of Biden’s stimulus, but Democrats want to make sure it gets done. Sen. Bernie Sanders says they will try and […]

Top Democrats introduced the Raise the Wage Act of 2021 on Tuesday, which would gradually increase the federal minimum wage to $US15 an hour by 2025. House Labour Chair Robert Scott said the Act would gradually phase out subminimum wages for tipped workers, youth workers, and workers with disabilities. Vermont […]

House Budget Chairman John Yarmuth said that using budget reconciliation to raise the federal minimum wage to $US15 an hour is likely to encounter Senate rule restrictions. Raising the federal mininum wage has been met with mixed reviews from Democrats and Republicans who disagree on the effects it will have […]

An Oxfam report found billionaires’ wealth increased by $US3.9 trillion between March 18 and December 30, 2020. The increase for the world’s 10 richest billionaires could pay for everyone to get vaccinated and stay out of poverty. The report recommends wealth taxes as one step toward a better world. Visit […]

American billionaires have added $US1.1 trillion to their collective wealth during the pandemic. That brings the collective net worth of America’s billionaires – including 46 new ones – to $US4.1 trillion. Meanwhile, millions of Americans remain unemployed and have fallen into poverty. Visit Business Insider’s homepage for more stories. American […]

A study by University of Notre Dame and University of Chicago economists found that 8 million Americans fell into poverty as government benefits have expired. The rise was more noticeable among Black people, children, and those with a high school education or less. Although poverty rates have increased in recent […]

Sen. Bernie Sanders of Vermont said in an interview on Sunday that Democrats can use budget reconciliation to pass President Joe Biden’s stimulus package. Although Sanders had previously criticised Republicans’ usage of reconciliation, he said it is necessary now to provide urgent relief quickly to American families. Both Republican and […]

A new ILO report finds workers lost $US3.7 trillion in earnings throughout the pandemic, with Americans losing the most. Women and younger workers were the hardest hit by employment losses. America will also have a harder recovery as the pandemic continues its spread. Visit Business Insider’s homepage for more stories. […]

A $US15 minimum wage will be including in the pandemic reconciliation package. Some fear a raise would hurt businesses or employment, but it would likely have a minimal effect. And for workers currently making less than $US15 an hour, it would be life-changing. Visit Business Insider’s homepage for more stories. […]

The 1,000 richest people on Earth have already recovered from coronavirus-related wealth losses, an Oxfam study revealed. Meanwhile, it could take more than a decade for those in poverty to recover, the charity said. The top 10 billionaires, including Jeff Bezos, have enough money combined to pay for a COVID-19 […]

Millennials aren’t killing the American Dream. They’re reviving it. John Truslow Adams defined the American Dream as a better life for all, but consumerism got involved in a big way after World War II. Millennials are bringing back its true meaning, whether they seek a life of suburbia or an […]

Biden’s third wave of executive actions will provide aid to Americans struggling financially. Addressing the hunger crisis, increasing SNAP benefits, and ensuring quick delivery of stimulus payments are core components of Biden’s relief plan. Biden also plans on encouraging government agencies to raise the minimum hourly wage to $US15. Visit […]

US credit- and debit-card spending gained in the first two weeks of January as Americans began to receive aid from the $US900 billion stimulus bill. The relief package included $US600 direct payments, expanded unemployment insurance, and education funding. Year-over-year spending increased the most among those earning less than $US50,000 and […]

President Joe Biden inherited an ailing labour market, with 900,000 Americans filing unemployment claims in the week before he was sworn in. Biden plans to address unemployment in the country through a series of measures, including weekly unemployment benefits, benefit extensions, and short-time compensation programs. The cooperation of Congress remains […]

New US jobless claims for the week that ended Saturday totaled 900,000, down from the previous period’s revised total of 926,000. Economists surveyed by Bloomberg expected claims to drop to 935,000. Continuing claims, which track Americans receiving unemployment benefits, fell to 5.1 million for the week that ended January 9. […]

Joe Biden halted all last-minute rules from Trump’s administration, including those for cryptocurrency. Hours after Biden’s inauguration ceremony, the order was circulated in a memo to all federal agencies. Controversial crypto regulations proposed by Steve Mnuchin on December 18 were met with criticism. Sign up here our daily newsletter, 10 […]

Americans want President Joe Biden to prioritise small business aid and provide further relief from the pandemic. Richard Prisinzano, director of policy analysis at the Penn Wharton Budget Model, said that more aid is necessary to help businesses, but it is reliant on vaccine distribution and the pandemic timeline. Other […]

Top-earning New York City residents may have to pay 14.7% income tax, Gov. Cuomo warned Tuesday. This would be the highest income tax in the US, ahead of California in second place. A tax hike depends on whether Washington helps plug New York state’s budget deficit, partly caused by the […]

Morning Consult poll finds that four in five Americans want Biden to prioritise small business aid and stimulus checks. Respondents also indicated favorability of extending mortgage forbearance policies, increasing unemployment benefits, and raising taxes for the wealthy. Treasury Secretary nominee Janet Yellen affirmed Biden’s commitment to aiding small businesses in […]

David Kelly, chief global strategist at JPMorgan Funds, wrote that President-elect Biden’s new stimulus could curb unemployment. A simulation of the plan found that unemployment could dip below 5% by the end of the year, Kelly wrote in a research note. Down from a pandemic peak of 14.7%, December’s unemployment […]

Treasury Secretary nominee Janet Yellen said during her confirmation hearing that raising the minimum wage to $US15 an hour would minimally effect jobs, if at all. Republican lawmakers argue that raising the minimum wage would cost the country millions of jobs. Democrats support raising the minimum wage to provide relief […]

President-elect Joe Biden plans on putting his $US2 trillion climate plan into action on day one of his presidency. Treasury Secretary nominee Janet Yellen said in her confirmation hearing that addressing climate change will be a priority and will bring jobs back to the economy. Partisan sparring over climate action […]

Economist Nouriel Roubini expects Joe Biden’s presidency to face civil unrest and cyberattacks. Russia and China will launch cyberattacks against the US and spread false information, he said. He’s worried Donald Trump could execute military action in Iran, making things difficult for Biden. Visit Business Insider’s homepage for more stories. […]

President-elect Joe Biden’s $US1.9 trillion stimulus package includes a $US1,400 top-up for stimulus checks, bringing the total distributed amount from December to $US2,000. These kinds of direct payments are intended to encourage consumers to spend, stimulating the economy. BofA Research found those who received $US600 checks in the last stimulus […]

President-elect Joe Biden’s new stimulus package included an increase of the federal minimum wage to $US15 an hour. Biden cited the passage of the minimum-wage increase in Florida as reasoning for passing this measure for the whole country. Lawmakers and economists disagree on the effects the wage increase will have […]

Bank of America lifted its forecasts for US full-year and first-quarter economic growth, citing hopes for new stimulus under the Biden administration and strong consumer spending trends. The bank’s economists lifted their first-quarter GDP forecast to 4% growth from 1% and boosted their 2021 estimate to 5% from 4.6% expansion. […]

President-elect Joe Biden’s American Rescue Plan expands the Child Tax Credit to include $US3,600 yearly benefits for families with children under the age of 6. The child and dependent care tax credit will also be expanded, covering half the cost of childcare up to $US4,000 for one child. The plan […]

US retail sales declined 0.7% in December, landing below the consensus economist forecast for unchanged spending. The reading marks a third straight month of contraction following November’s 1.4% drop and a mild decline in October. The data suggests strong online sales through the holiday season failed to offset COVID-19 lockdowns […]

The UK economy shrank by 2.6% in November as England entered another lockdown. Britain is on the brink of a double-dip recession and faces a tough winter as COVID cases rise. Yet a fast vaccine rollout could help the economy recover in the spring and summer. The UK economy shrank […]

Federal Reserve Chairman Jerome Powell reiterated Thursday that the central bank is far from tapering its asset purchases or raising interest rates. “Now is not the time to be talking about an exit” from easy monetary policy, the central bank chief said in a virtual discussion. The comments come after […]

The Bloomberg Consumer Comfort Index dropped 1.2 points to 43.2 in the week ended January 10 according to data released Thursday. The reading marks the lowest level since July and extends a streak of declines into its eighth week. A gauge tracking Americans’ views of their finances slid to 55.9 […]

President-elect Joe Biden will extend the current pause on the student loan forbearance program on his first day in office, according to his transition official. Biden supports Congress forgiving $US10,000 in student loan debt for each person, but he has not provided a timeframe to do so. Lawmakers and Biden […]

President-elect Joe Biden is expected to expand child benefits in an economic relief package, The Washington Post reported. Biden last year unveiled a plan to expand the child tax credit. Democrats have supported expanding child benefits to combat high rates of child poverty in the US. Visit Business Insider’s homepage […]

New US jobless claims for the week that ended Saturday totaled 965,000, the Labour Department said Thursday, signalling the labour market’s rebound weakened through the end of the holiday season. Economists surveyed by Bloomberg expected a reading of 800,000 claims. The data shows a sizable increase from the previous week’s […]

The US central bank’s economic rescue efforts during the pandemic have supported America’s recovery, which is turning out to be K-shaped. To stimulate the economy after a dramatic slowdown and stock-market crash triggered by the coronavirus pandemic, the Federal Reserve bought Treasury bonds and mortgage-backed securities, a process known as […]

Prior to the coronavirus pandemic, it looked like the American economy was booming. But ever-growing inequality was lurking underneath, and the pandemic threw that into starker relief. The average American’s income rose after the $US3 trillion CARES Act, but after those benefits expired in July, the seemingly never-ending pandemic plunged […]

The December jobs report from the Bureau of Labour Statistics said 140,000 jobs were lost last month. All of those lost jobs were held by women, data shows. The disparities grow even wider when considering race, with Black and Latina women working in retail and education sectors being hit the […]

The US lost 140,000 nonfarm payroll jobs in December, according to the Bureau of Labour Statistics. The loss comes as a surprise, as some economists anticipated more jobs would be added. Leisure and hospitality workers were particularly hard hit, as were workers who couldn’t work from home. Visit Business Insider’s […]

The US lost 140,000 jobs in December, the Bureau of Labour Statistics said Friday. That ran counter to economist estimates that foresaw 50,000 payroll additions. The figure also signalled a reversal from the revised 336,000 job additions seen in November. The result ends a seven-month streak of payroll additions for […]

The pandemic has widened millennial inequality that dates back to the Great Recession, with wealthier millennials faring well while their low-earning peers are struggling. The affordability crisis millennials were already facing prepandemic has left some with little wealth to fall back on as they experience unemployment and other hardships during […]

Inflation is the increase in the prices of goods and services in an economy over time. While a low, steady inflation rate around 2% annually is desirable, indicating a healthy economy, high or rapidly changing inflation is dangerous. Inflation lowers the value of cash savings. To hedge against it, invest […]