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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow fast food got so expensiveSticker shock is making customers think twice about their favorite fast-food chains. McDonald's and Yum Brands, which owns KFC, Taco Bell and Pizza Hut, missed analyst estimates in their 2024 first-quarter earnings. The limited-service restaurant category saw prices rise more than 46% over the course of the past decade, according to the U.S. Bureau of Labor Statistics. Experts say that increasing labor costs are the primary driver.

Organizations: Yum Brands, KFC, Taco Bell, U.S . Bureau of Labor Statistics

☆ Oil steadies, heads for weekly drop on U.S. economy worries
▼ + stars: | 2024-05-03 | by ( ) www.cnbc.com time to read: +1 min

Oil prices edged up in early trade on Friday on the prospect of OPEC+ continuing output cuts, but the crude benchmarks were headed for weekly losses on U.S. economic uncertainty and limited crude supply disruptions caused by the Israel-Hamas war. Brent headed for a 6.3% weekly decline, while and WTI moved towards a loss of 5.6% on the week. The market is now looking towards U.S. economic data and indicators of future crude supply from the world's top producer. Higher rates typically weigh on the economy and that can reduce oil demand. Also on Friday, energy services firm Baker Hughes is due to release its weekly count of oil and gas rigs, an indicator of future crude output.

Persons: Brent, WTI, Baker Hughes Organizations: Brent, . West Texas, Organization of, Petroleum, U.S . Bureau of Labor Statistics, Federal Reserve Locations: Israel, U.S, Russia

"It resonates with both millennials and Gen Zers, which I think indicates that Gen Z is feeling the same 'girl-boss' pressures that millennials famously grew up with," said Casey Lewis, a social media trend forecaster. "I'm a millennial and I grew up like I needed to maximize every minute of the day," Lewis said. And yet, even in cases where women are now breadwinners, the division of labor at home has barely budged, the Pew report found. "But we also live in an environment of layoffs and rising costs, so not being productive isn't really an option," she added. Even though you're not reading the news, you're still seeing how the economy is impacting peers.

Persons: Taylor Swift, “ Midnights, Kevin Mazur, Gen Zers, millennials, Casey Lewis, Eve Rodsky, Taylor, Lewis, That's, Heather Boneparth, Gen Organizations: Crypto.com Arena, Poets Department, Pew Research Center, U.S . Bureau of Labor Statistics Locations: Los Angeles

☆ U.S. wage growth is cooling, but some jobs are still seeing relatively big annual raises
▼ + stars: | 2024-04-15 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

Among them, it's highest in the legal profession: Indeed found that average workers saw their paychecks grow at a 5.7% pace in March 2024 versus a year earlier. Strong wage growth doesn't necessarily translate to a high salary, though. By comparison, software developers make $66.40 an hour and $138,110 annually on average, according to BLS data. For example, workers in accommodation and food services saw annual earnings growth peak at 16.1% in December 2021, according to ZipRecruiter data. By comparison, it found that those in the information sector saw growth peak at 7.8% in September 2022.

Persons: Julia Pollak, Allison Shrivastava, Pollak Organizations: Maskot, Workers, Finance, it's, CNBC, U.S . Bureau of Labor Statistics

☆ Why car insurance costs are skyrocketing and leading to higher inflation
▼ + stars: | 2024-04-11 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

RobertCrum | Getty ImagesDETROIT – Skyrocketing auto insurance costs helped contribute to inflation accelerating at a faster-than-expected pace in March and are adding to the ever more expensive costs for U.S. vehicle owners. Auto insurance costs have been on the rise for some time, growing every month as part of the index since December 2021. However, auto insurance remains a small portion of the CPI, with a 2.85% weighting. watch nowThe insurance cost increases on inflation come more than two years after the Biden administration largely blamed used car prices for pushing inflation higher in January 2022. The cost of vehicle insurance — which is mandatory in almost every state — varies by provider, driver, coverage and location.

Persons: Sean Tucker, Kelley, David Sampson, Sampson, Biden, Mitchell, Power, —, it's, Price, Mark Garrett, — CNBC's Robert Ferris, Jeff Cox Organizations: Getty, DETROIT, U.S, Auto, U.S . Bureau of Labor Statistics, American, Casualty Insurance Association, CNBC, Progressive, Power's U.S . Auto Insurance, State Farm, Liberty Mutual Locations: U.S, Power's U.S, Geico, .

☆ The strong U.S. job market is in a ‘sweet spot,’ economists say
▼ + stars: | 2024-04-05 | by ( Greg Iacurci | ) www.cnbc.com time to read: +2 min

The labor market has been resilient despite economic headwinds like higher interest rates. "There's still strong, broad-based job growth and real wage growth has been restored," Pollak said. The labor market is in a 'sweet spot'Employers added 303,000 jobs to payrolls in March, the U.S. Bureau of Labor Statistics reported Friday. Job growth in the first three months of 2024 — 274,000, on average — beats the 2019 pre-pandemic average by more than 100,000. "The labor market is settling into a sweet spot," said Nick Bunker, economic research director for North America at job site Indeed.

Persons: Lindsey Nicholson, Julia Pollak, There's, Pollak, Nick Bunker Organizations: Getty, U.S . Bureau of Labor Statistics, North America Locations: Queens , New York, U.S

☆ What kind of 'Barbie' are you? Here are the Barbieland jobs that most real-life women hold, according to government data
▼ + stars: | 2024-03-14 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

In the "Barbie" movie, the narrator says, "Barbie has a great day every day." As women's participation in the labor force has increased over the years, the group continues to face hurdles along the way. "We have the tightest labor market for women in the past 20-something years," Bustamante said. "As the labor market gets tighter and tighter and tighter, women's employment rises faster than men's," Pollak said. "To think of just the scale of construction employment and women are still such a marginal piece of that sector," he said.

Persons: Margot Robbie, Barbie, Julia Pollak, R, Bustamante, Pollak, " Pollak Organizations: Mattel, Warner Bros, U.S . Bureau of Labor Statistics, Roosevelt Institute, Census, National Women's Law, Warner Brothers Pictures Locations: New York, U.S

☆ Unemployment fell for Black women in February as more joined the labor force
▼ + stars: | 2024-03-08 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +1 min

Joe Raedle | Getty Images News | Getty ImagesUnemployment among Black women fell in February as the number of those looking for work increased, data released Friday by the U.S. government showed. Adult women age 20 and older in the labor force followed that trend, with the unemployment rate ticking up to 3.5% from 3.2%. The percentage of unemployed Black women, however, fell to 4.4% from 4.8%. She pointed to the decrease in the unemployment rate, while the employment/population ratio edged higher to 60.6% from 59.9%. "We saw increases in health care and government services, which are sectors where we see a significant number of Black women being employed," she said.

Persons: Joe Raedle, Valerie Wilson, Wilson Organizations: Getty, U.S, U.S . Bureau of Labor Statistics, CNBC Locations: Miami, U.S

☆ Immigration is 'taking pressure off' the job market and U.S. economy, expert says
▼ + stars: | 2024-03-02 | by ( Greg Iacurci | ) www.cnbc.com time to read: +10 min

Mark Zandi, chief economist at Moody's Analytics, said the increase in foreign-born workers is "taking pressure off the economy." The growth in foreign-born workers comes amid a contentious immigration policy debate in the U.S. Immigrants' share of the labor force has increased since 1996, when the Bureau of Labor Statistics began collecting such data. A growing population and labor force are key components of a healthy economy and the nation's ability to pay its bills, economists said. In other words, the economy is both absorbing immigrants and generating job opportunities for U.S.-born workers, the institute said.

Persons: Mark Zandi, it's, Alejandro Mayorkas, John Moore, Muzaffar Chishti, Jack Malde, Qian Weizhong, Steven Camarota, Camarota, Paul Ratje, Eric Thayer, Malde, EPI, Zandi, There's, Luis Alvarez Organizations: U.S . Bureau of Labor Statistics, Moody's, Republicans, U.S, Department of Homeland, U.S . Border Patrol, U.S . Department of Homeland, Getty, Migration Policy Institute, CNBC, Foreign, U.S . Immigrants, Bureau of Labor Statistics, Pew Research Center, Social Security, Congressional, Office, Center, Immigration, . Border Patrol, Getty Images, Federal Reserve Bank of San, Center for Immigration Studies, Afp, Bloomberg, Economic Policy Institute, National Academies of Sciences, Engineering, Medicine, Digitalvision Locations: U.S, Mexico, Eagle Pass , Texas, San Diego , California, Federal Reserve Bank of San Francisco, Paso, Ciudad Juarez , Mexico, Los Angeles

☆ Medicaid challenges leave many Black Americans uninsured
▼ + stars: | 2024-02-29 | by ( Micah Washington | ) www.cnbc.com time to read: +5 min

Recent changes to Medicaid programs, aimed at closing a health coverage gap in the U.S., have left behind some Americans — particularly people of color. But as the global health crisis waned and Medicaid coverage expansions faced delays in some states, insured rates fell and Black Americans remained disproportionately uninsured compared with white Americans, according to KFF, formerly known as Kaiser Permanente. In 2022, 10% of Black Americans were uninsured, compared with 6.6% of white Americans. In states that don't offer Medicaid expansion, 13.3% of non-elderly Black Americans are uninsured, according to KFF, compared with 7.3% of that population in states that have already adopted the expansion. Most of the patients at WOH are Black and are covered under Medicaid, according to the company.

Persons: —, Jenn Wagner, Samantha Artiga, Wagner, they're, Robert Phillips, WOH, Phillips Organizations: KFF, Affordable, Permanente, Budget, U.S . Bureau of Labor Statistics, Health, West Oakland Health, East Locations: U.S, East Bay Area, California, WOH

☆ For Black workers, progress in the workplace but still a high hill to climb
▼ + stars: | 2024-02-27 | by ( Jeff Cox | ) www.cnbc.com time to read: +10 min

"We were in a situation where folks accepted that Black unemployment was going to always be high and there was nothing that they could do about it. The Black unemployment rate in January was 5.3%, up a touch from December but still near the all-time low of 4.8% hit in April 2023. For Black workers, weekly before-tax earnings as of the end of 2023 have risen 24.8% since the first quarter of 2020. "High unemployment for Black workers is a solvable problem," Fulton said. Black workers are interested in tech and believe there are opportunities.

Persons: Ali, Jamila Wright, there's, Jessica Fulton, Fulton, Cox, she's, MilSpouse, they've, Sue Harnett, Goldman Sachs, Harnett, I'm, Ali Wright Organizations: Brooklyn Tea, Joint Center, Political, Economic Studies, D.C, U.S . Bureau of Labor Statistics, McKinsey & Company, Companies, Bank of America, Black Colleges, Universities, New, Small Business Administration, Ivy League, Conference Board Locations: America, U.S, Washington, Brooklyn, New York City, Atlanta

☆ JPMorgan's Kolanovic doubles down on bearish stance, says a 'second inflation wave' could take hold
▼ + stars: | 2024-02-21 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

The stock market's strong start to 2024 could be short lived as the door for inflation to come back remains wide open, according to JPMorgan's Marko Kolanovic. The S & P 500 is coming off its first weekly loss in six weeks. Year to date, the S & P 500 is up about 4% and reached an all-time high earlier this month above 5,000. "Optimism now is quite high and some describe the current regime as 'parabolic stock markets' and 'platinum-locks,'" he said. According to CNBC Pro's Market Strategist Survey , JPMorgan has an S & P 500 target of 4,200.

Persons: JPMorgan's Marko Kolanovic, Kolanovic Organizations: U.S . Bureau of Labor Statistics, CNBC Pro's, Survey, JPMorgan Locations: Japan, Germany, Europe

One silver lining is that inflation generally corresponds with higher rates on savings accounts. CDs and high-yield savings accounts currently earn more interest on your money. AdvertisementHere are some smart moves you can make to get the most out of your money when inflation is high:Shop around for higher interest rates on savingsIncreased inflation generally corresponds with higher interest rates paid by high-yield savings accounts. High-yield savings accounts are designed to make your money grow in a way a typical savings account can't. Boost Your Savings Western Alliance Bank's savings account offers an industry leading APY.

Persons: — Organizations: Service, U.S . Bureau of Labor Statistics, Federal, Savings, Savings Western Alliance

The number of U.S. workers on strike more than doubled last year. But about half of 2023's total striking workers were on the picket line for more than a month, Thursday's report notes. And the amount of strikes and lockouts with a first contract demand more than doubled compared to 2022, the Labor Action Tracker found. According to Thursday's report, accommodation and food services saw more work stoppages than any other industry last year, accounting for 33.4% of the total strikes and lockouts. But the information industry had the highest number of striking workers and strike days — making up for 34.5% of all workers on strike and 83.8% of strike days.

Persons: Johnnie Kallas, “, ” Kallas, Alexander Colvin Organizations: — Auto, Labor, Cornell University, University of Illinois, Cornell University’s School of Industrial and Labor Relations, U.S . Bureau of Labor Statistics

☆ Deflation: Here's where prices fell in January 2024, in one chart
▼ + stars: | 2024-02-14 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

These are the big deflationary factors"A lot of factors have come together to push goods prices down," said Mark Zandi, chief economist at Moody's Analytics. In addition to normalizing supply-demand dynamics, a historically strong U.S. dollar relative to other global currencies has also helped rein in goods prices, Zandi said. Falling energy prices have also put downward pressure on goods prices, due to lower transportation and energy-intensive manufacturing costs, economists said. Lower energy prices also put downward pressure on the transportation of food to store shelves. Consumers get more for roughly the same amount of money, which shows up as a price decline in the CPI data.

Persons: RC Willey, George Frey, Jay Bryson, there's, Mark Zandi, Zandi, rebalancing, J.P, Hopper Organizations: RC, Bloomberg, Getty, U.S . Bureau of Labor Statistics, Wells, Wells Fargo Economics, Moody's, U.S . Federal, Services, Finance, Morgan's, Investment, Group, of Labor Statistics Locations: Draper , Utah, Wells Fargo, U.S, Salinas, California

☆ Bitcoin falls from $50,000 following hotter-than-expected inflation data
▼ + stars: | 2024-02-13 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

An image of bitcoin and U.S. currencies is displayed on a screen during the Interpol World Congress in Singapore on July 4, 2017. Cryptocurrencies fell Tuesday amid a broader market sell-off following a hotter-than-expected CPI reading. The day before, it punched through the $50,000 mark to its highest level in more than two years. "However, investors should expect longer term weakness if inflation continues to run hotter than expected, which tends to run counter to the dominant belief that bitcoin is an inflation hedge." He also said he believes bitcoin is not an inflation hedge but rather a gauge on liquidity within the financial system.

Persons: Cryptocurrencies, Bitcoin, Dow Jones, Nico Cordeiro, bitcoin Organizations: Interpol, Metrics, U.S . Bureau of Labor Statistics, Treasury, Reserve Locations: Singapore

☆ Biden calls on snack makers to stop 'shrinkflation' rip-offs. Here's how to spot downsized grocery store products
▼ + stars: | 2024-02-12 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

The phenomenon called shrinkflation — where consumer products become smaller in quantity, size or weight while their prices stay the same or increase — is a "rip off," Biden said. "Some companies are trying to pull a fast one by shrinking the products little by little and hoping you won't notice," said Biden, who called for the companies to put a stop to the practice. These tactics tend to become more prevalent during times of high inflation, Dworsky said. "This corporate greed is one of the reasons that Americans are frustrated by expensive grocery bills," Casey said in a December statement. "I'm hoping with inflation subsiding a little bit that we'll see fewer examples, but it's never going to go away," Dworsky said.

Persons: Anna Bizon, Joe Biden, Biden, Edgar Dworsky, Dworsky, Sen, Bob Casey, Casey, it's, shrinkflation Organizations: Getty, Finance, shrinkflation, U.S . Bureau of Labor Statistics Locations: TikTok, Washington, shrinkflation

☆ Here's how to pick the best free tax filing option this season
▼ + stars: | 2024-02-04 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +4 min

IRS Free FileA public-private partnership between the IRS and Free File Alliance, a nonprofit comprised of tax software companies, IRS Free File offers free guided tax prep software for eligible filers. If you're comfortable with tax software, Free File has eight partners this season, with varying income eligibility — and some offer free linked state filings. Volunteer tax prep from IRS programsIf you're looking for more guidance, you may also qualify for free tax prep from IRS programs with trained volunteers. The Volunteer Income Tax Assistance, or VITA, program offers free tax prep for taxpayers typically making up to $64,000, in addition to filers with disabilities and limited English proficiency. AARP Foundation Tax-Aide also offers free tax prep for low- to moderate-income older adults.

Persons: Tim Hugo, Hugo, Steven Hamilton Organizations: U.S . Bureau of Labor Statistics, Taxpayers, IRS, Alliance, National Taxpayer, Volunteer, Internal Revenue, The George Washington University, Social Locations: Arizona , California, Florida , Massachusetts, Nevada , New Hampshire , New York, South Dakota , Tennessee , Texas, Washington and Wyoming

Research suggests that higher education correlates with higher earnings. In four states, more than 60% of working age people had some form of post-high school education – exceeding the foundation’s broader goal. Nevada landed at the very bottom of the list, with an educational attainment rate of 42.7%. In the most recent version of the rankings, Massachusetts, Colorado and Vermont were ranked the highest for educational attainment. Post-high school educational attainment percentages for Black, Hispanic, Latino and Native American adults were all far below the national average, according to the report.

Persons: ” Courtney Brown, “ Organizations: Lumina Foundation, Research, U.S . Bureau of Labor Statistics, Lumina Foundation’s, Census, Survey, Washington . Washington , D.C, Lumina, U.S . News, American Locations: Indiana, United States, U.S, Kentucky, Rhode Island, . Alabama , Colorado , Florida, North Carolina, Colorado, Massachusetts, Utah, Minnesota, Vermont, Virginia , New Jersey, Washington . Washington ,, Puerto Rico, Nevada, Alaska, Louisiana, Tennessee, Mississippi, Alabama, Arkansas, West Virginia

☆ ‘Positive’ labor market data can still feel awful for workers, job seekers. Here's why
▼ + stars: | 2024-01-30 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +2 min

Layoffs and discharges changed little at 1.6 million, remaining at a rate of 1% for the fourth consecutive month. In November, the hires rate fell to 3.5%, the lowest rate since 2014 outside of the Covid-19 pandemic recession. For all of 2023, the hires rate averaged 3.8%, making it only the 11th best year out of 23, she said. There were more job openings a few years ago because of the high turnover. From October to November, job opening rates decreased in four states, increased in two and were little changed in 44 states and the District of Columbia.

Persons: Julia Pollak, Pollak, Elise Gould, Gould, Bustamante Organizations: Getty, U.S . Bureau of Labor Statistics, Labor, Economic Policy Institute, Employers, District of Columbia, Bureau of Labor Statistics Locations: Montana, Arizona, Oregon, California, Connecticut

☆ 'The economy isn't sick right now,' economist says—here's why Americans still feel like it is
▼ + stars: | 2024-01-26 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +2 min

Sentiment about the U.S. economy is currently in an upswing: 28% of Americans would say the economy is either excellent or good, according to recent data from Pew Research Center. In January 2020, 57% of Americans said the economy was good or excellent. More young adults are employed full-time today than in 1993, according to Pew data. 'A substantial amount of Americans are feeling the effects of the inflationary period'High prices remain the stickiest issue. Of Americans who reported feeling like the economy is fair or poor, more than a quarter said it's because of high inflation.

Persons: Kyle K, Moore, Joceyln Kiley Organizations: Pew Research, Economic, Institute, Pew, U.S . Bureau of Labor Statistics Locations: U.S

Joe Biden bet on the American worker while Donald Trump blamed the American worker. The Best Political Cartoons on Joe Biden View All 259 Images“The question is: Who do we want in that office to give us the best shot of winning?” Fain asked members. Joe!” Biden accepted the endorsement and pledged to continue supporting labor unions and the auto industry in particular. Of course, there were plenty of signs the UAW chief was planning to make the union’s backing of Biden official. That's what this choice is about.”More labor union endorsements are likely to roll out in the coming months.

Persons: Joe Biden, Donald Trump, ”, Shawn Fain, Harris, Trump, ” Fain, “, “ It’s, It's, “ It's, ” “ Donald Trump, that's, he’d, “ Joe, Joe, Joe ! ” Biden, ” Biden, Biden, “ Trump, you've, –, Fain, ” Mary Kay Henry, Biden’s, Lady Jill Biden Organizations: United Auto Workers, D.C, Biden, UAW, – Ford, General Motors, Trump, Gallup, National Labor Relations Board, Employees International Union, U.S . Bureau of Labor Statistics, Press, Hollywood, “, National Education Association Locations: Washington, Detroit, New Hampshire, Iowa, Michigan, Pennsylvania, Wisconsin, America, U.S, “, South Carolina

Unions commanded big headlines last year, but that didn’t translate into higher membership rates, according to government data released Tuesday. That showed little movement from 2022, when 10.1% of workers were union members. Despite U.S. polls showing growing enthusiasm for unions, membership rates have been on a decades-long decline. Men had a higher union membership rate last year, at 10.5%. And Black workers have a higher union membership rate, at 11.8%, than white workers, at 9.8%.

Organizations: U.S . Bureau of Labor Statistics, Hollywood, Workers, Starbucks, U.S, of Labor Statistics Locations: Vegas, U.S

☆ Investing in hobbies can be money well spent — just don't take on debt
▼ + stars: | 2024-01-13 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +3 min

This broad category covers a range of expenses that people consider hobbies, as well as concert tickets and pets. If done wisely, cash spent on your hobbies is money well spent. A lot of times, startup costs for hobbies and interests are very expensive, said Weiler. watch nowDon't finance a new hobby on debtIf you do enjoy the hobby, find a way to make it financially sustainable. Does money spent on hobbies buy happiness?

Persons: Rebecca Weiler, Weiler, George Organizations: Getty, U.S . Bureau of Labor Statistics, Research, Finance, Trustco Bank Locations: New York City

☆ Consumer prices are cooling, but BlackRock bets on inflation-protected bonds for the long term. Here's why
▼ + stars: | 2024-01-08 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Inflation-protected bonds may be the last thing on investors' minds amid cooling prices, but BlackRock is betting on the securities for the longer term. Due to that, BlackRock named inflation-protected securities one of its top 2024 strategic calls for those with a time horizon of five to 10 years. "We see inflation going through a roller coaster over a longer term," Li said. Buying TIPS Investors can buy TIPS in five-year , 10-year and 30-year terms through the TreasuryDirect website . BlackRock, which has a traditional TIPS ETF, also recently launched a suite of defined maturity TIPS ETFs last fall.

Persons: Wei Li, Li, BlackRock, We've Organizations: BlackRock, Bank of America Securities, U.S . Bureau of Labor Statistics, Federal Locations: redemptions, U.S

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