The numbers: Consumer spending rose a modest 0.4% in August, as Americans appeared to pocket savings from lower gas prices instead of using the extra cash on other goods and Read more
Tag: personal income
Rents fell in August for the first time since November 2021, but tenants are still struggling. Here’s why.
For the first time since November 2021, U.S. median monthly rents failed to notch a new record high and even fell a little compared to the previous month — by Read more
Opinion: Powell has picked sides, but which is worse for you: inflation or recession?
When Federal Reserve Chairman Jerome Powell said Wednesday that “no one knows whether this process will lead to a recession or, if so, how significant that recession would be,” he Read more
Pandemic benefits may have helped improve equality in dozens of cities: analysis
Pandemic stimulus benefits and a tight labor market that boosted workers’ wages may have helped increase income equality in big cities across the U.S in 2020, according to a new Read more
Opinion: Donor-advised funds like Fidelity’s are starving charities of the money they need
Once upon a time, charity in the United States meant pitching in to help a friend or a neighbor in need. It meant local organizations feeding the hungry, housing the Read more
Opinion: Workers are falling behind inflation with every paycheck, but that won’t reassure a Fed determined to quash inflation
The Federal Reserve doesn’t love the employment report released Friday, which showed that 528,000 more jobs were created in July while the unemployment rate fell to 3.5%, matching the lowest Read more
Opinion: Higher prices lead to higher wages, which fuel higher prices. The Fed must break this cycle with aggressive rate increases.
CAMBRIDGE, Mass. (Project Syndicate)—Recent price- and wage-growth data make it increasingly clear that the U.S. economy’s underlying inflation rate is at least 4% and more likely to be rising than Read more
Growing up with rich friends can help a child escape poverty, researchers say
Want a more economically equal society? Start with your inner circle — or your child’s. For people with a lower socioeconomic status, having friends across class lines “is among the strongest Read more
U.S. wage pressures heat up in second quarter
The numbers: The employment cost index rose 1.3% in the second quarter, down slightly from a 1.4% gain in the January-March quarter, the Labor Department said Friday. Economists polled by Read more
Job switchers saw a greater increase in salary than people who decided to stay put. Here’s what’s at stake.
It pays to look around. The number of job switchers reporting wage gains has expanded while the number of job stayers reporting wage gains actually contracted as inflation exacts its Read more