Money & The Economy
News on Finance, Money, markets and the economy
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Layoffs Surge To 14-Month High As Inflation Crushes Employers
The number of people laid off from American companies reached the highest point since January 2023, according to data from…
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Prices In Key Insurance Sector Could Climb Even Higher After Baltimore Bridge Disaster
The recent collapse of Baltimore, Maryland’s, Francis Scott Key Bridge threatens to raise reinsurance prices for insurance companies, which could…
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April Fools: Minimum Wage Increases to $20
Starting on April Fool’s Day, the minimum wage for all workers in the fast-food industry in California will increase to…
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Home Costs Rising Twice As Fast As Americans’ Incomes
The cost to afford a median-priced home has increased at twice the rate that the average household income has risen…
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Top Chinese EV Maker Posts Massive Profits Amid Quest To Sneak Into US Market
BYD, China’s top electric vehicle (EV) maker, recorded a substantial increase in profits in its 2023 annual report published on…
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Home Prices Rose At Fastest Pace In More Than A Year As Unaffordability Crisis Persists
The index for home prices increased in January at its fastest rate since November 2022 as supply constraints and inflation…
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Stellantis To Lay Off Hundreds Of Employees As Electric Vehicle Struggles Continue
Stellantis, the maker of American vehicle brands Dodge, Ram, Chrysler, and Jeep, announced Friday that it will soon lay off…
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No Rate Cuts This Year. Maybe a Couple of Hikes.
The Federal Reserve’s Open Market Committee is holding their March meeting today. At the end of last year, most investors…
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Huge Discrepancy In Jobs Data Could Be Making Biden’s Economy Look Way Stronger On Paper
Data from the Federal Reserve Bank of Philadelphia estimates that the U.S. economy added more than two-thirds fewer jobs in…
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Real Estate Group Reaches Deal That Could Cause Massive Change To How Americans Buy Homes
The National Association of Realtors (NAR), a trade association for the real estate industry, announced a massive settlement on Friday,…
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Another Inflation Metric Comes In Hot As Price Hikes Show No Sign Of Stopping
The producer price index (PPI) rose more than double expectations in February as inflation continues to run hot despite anticipation…
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Biden budget? Tax and spend, here we go again
President Biden has proposed his budget for fiscal year 2025. This proposal will increase government spending by more than 12%…
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Biden Added One-Third Less Jobs In January Than Previously Reported
The government overestimated the number of jobs added to the U.S. economy by more than one-third in January, continuing the…
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Boeing Whistleblower Rips Company Executives For Ignoring ‘Absolute Chaos’
Ed Pierson, an ex-Boeing senior manager and whistleblower, criticized the company’s executives on Friday for not heeding his warnings about…
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Gov’t Jobs Continue To Swell Under Biden As Unemployment Ticks Up
The U.S. set another new record for the total number of government jobs in February, even as overall unemployment ticks…
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