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March jobs report shows strong labor market with job gains in health care and government
The sturdy labor market continued to chug along in March, with an unemployment rate of 3.8%, marking the 26th straight month of an unemployment rate under 4%. The economy added 303,00 jobs, according to the monthly report released by the Bureau of Labor Statistics on Friday. Economists, researchers, and policy experts say that the strong […]
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 the most recent economic indicators tell us about people’s perception of the […]
When will housing affordability improve? Spoiler alert: It will take some time
Inflation is slowing and job growth has surged, but many Americans still feel the burden of expensive housing – fueled in part by high demand, low inventory and mortgage rates. Home prices across the U.S. rose 5.5% over the past year in December 2023 and they are projected to increase 2.8% year over year by […]
Overdraft fees, late fees could be slashed as White House continues attack on junk fees
The cost of overdrawing your bank account could ease considerably under a rule proposed this month by the Consumer Financial Protection Bureau. The proposed regulation is in line with a larger effort that the Biden administration has championed the past few years to crack down on “junk fees,” which are tacked onto everything from ticket […]
As more states add paid family leave, advocates say there’s a need for federal policy
When the Minnesota legislature was debating a paid sick leave bill last year, business owners argued that such a law would not allow them to provide as many employee “perks” or be as “adaptive” to employee needs as they say they would be without such a requirement. But a half dozen witnesses made a case […]
December jobs report: Wages up, hiring steady as job market ends year strong
Friday’s jobs data showed a strong, resilient U.S. labor market with wages outpacing inflation — welcome news for Americans hoping to have more purchasing power in 2024. The December jobs report unveiled another unemployment rate below 4%, as it has for two years, at 3.7%, the same as it was for November. The economy added […]
The US avoided a recession in 2023. What’s the outlook for 2024?
Next year is packed with potential shifts in the economy but many economists and investment analysts expect that the country will likely avoid a recession in 2024 even as growth slows in the first half of the year. States Newsroom talked to economists about their expectations for some key metrics as well as their concerns […]
Retailers pare back their seasonal hiring to prepare for ho-hum holidays
Black Friday shoppers may notice longer lines and fewer retail associates in some of their favorite stores than in past holiday seasons as retailers scale back seasonal hiring over concerns about consumer spending. JCPenney is hiring 12,000 fewer workers than last year. Macy’s 3,000 fewer. Meanwhile a Walmart executive said the retail giant has been […]
Student debt relief scams on the rise. Here’s what borrowers need to know.
Complaints about student debt relief scams are increasing as the date approaches for borrowers to restart payment on their student loans after more than a three-year pause. Consumer protection advocates say that the Biden administration’s student debt relief efforts, the subsequent halting of those policies by the courts, and the restart of student loan payments […]
Women workers could bear economic brunt as federal child care funding ends
A huge chunk of pandemic relief funding that kept child care programs afloat for the past few years is set to run out Saturday, and policy advocates say the economic impact will be profound, with the ripple effect hurting labor force participation and consumer spending at a time when the country is still trying to […]
Millions more workers would receive overtime pay under proposed Biden administration rule
Salaried workers who have been ineligible for overtime pay would benefit from a proposed Biden administration regulation. The Department of Labor’s new rule would require employers compensate full-time workers in management, administrative, or other professional roles for any overtime worked if they make less than $55,068 annually. Currently, the salary threshold is $35,568. The change […]
Pregnant workers have new protections. Here’s what to expect from your boss.
Almost two months after workplace accommodations for pregnant workers became law, the rules surrounding what employers can and cannot do have yet to be finalized — but that doesn’t mean the protections are not in place. The Equal Employment Opportunity Commission’s proposed regulations are expected to offer more clarity once finalized, but workers can still […]