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☆ Here are 11 states with guaranteed basic-income programs that give residents hundreds of dollars a month, no strings attached
▼ + stars: | 2024-04-28 | by ( Allie Kelly | Andy Kiersz | ) www.businessinsider.com time to read: +1 min

Guaranteed basic-income programs can help low-income participants afford necessities like rent. Despite legislative opposition, basic-income programs remain active across the country. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIngrid Sullivan, 48, used her cash from the San Antonio guaranteed basic-income program to rent a home where her grandchildren can play in the yard. "My life was always just a couple hundred dollars short," Sullivan told Business Insider.

Persons: —, Ingrid Sullivan, Monique Gonzalez, Sullivan Organizations: Service, San Antonio, Jarun Locations: San Antonio, Denver

☆ Why so many men in the US have stopped working
▼ + stars: | 2024-04-28 | by ( Jacob Zinkula | Andy Kiersz | ) www.businessinsider.com time to read: +10 min

AdvertisementIt could be all about recessionsSince the 1950s, whenever the US economy fell into a recession, the rate of working men tended to suffer a lasting blow. AdvertisementWhy have recessions appeared to have such a lasting impact on working men? The strong recovery of men working after the pandemic recession could be due to the unique nature of this downturn — which tanked an otherwise healthy economy. And of course, some lucky prime-age men aren't working because they've had a lot of financial success — and already retired. Deciphering how much these explanations have fueled the decline of working men could be worthy of further explanation, the economists said.

Persons: —, It's, Abigail Wozniak, Wozniak, David Autor, There's, Jason Furman, Barack Obama's, Elise Gould, Gould, aren't, we've, John M, Coglianese, they've Organizations: Service, Federal Reserve Bank of Minneapolis, Massachusetts Institute of Technology, Washington Post, of Labor Statistics, San Francisco Fed, BLS, Economic, Economic Policy Institute, Federal Reserve

☆ One chart shows just how much women's college basketball ratings have soared while men's have dipped
▼ + stars: | 2024-04-17 | by ( Cork Gaines | Andy Kiersz | ) www.businessinsider.com time to read: +7 min

Viewership for the women's NCAA basketball championship surpassed the men's final for the first time. Over the next three years, the TV audience for the women's final grew by 23% to an average of 3.7 million. Women's basketball popularity goes beyond championship game ratingsWe have seen other evidence of women's college basketball's emerging dominance in the sports landscape. Meanwhile, merchandise sales related to women's college basketball are also soaring. JuJu Watkins celebrates with USC fans following a win during the 2024 NCAA Women's Basketball Tournament.

Persons: —, Nielsen, Caitlin Clark —, Angel Reese, Dawn Staley, Clark, University of Connecticut's Paige Bueckers, Juju Watkins, James, LeBron James, JuJu Watkins, Wally Skalij, Darren Rovell, Bruce B, Greenspoon Marder, you've, Siegal Organizations: NCAA, WNBA, Service, University of Iowa, University of South Carolina, Purdue University, University of Connecticut, Nielsen, Sports Media Watch, Louisiana State, University of South, Business, Nike, University of, University of Southern, USC, Indiana Fever, Impact, Vanderbilt University Locations: Louisiana, University of South Carolina, University of Southern California

☆ Meet the typical immigrant worker who's recently come to the US: A young man working in construction or food services making under $40,000 a year
▼ + stars: | 2024-04-16 | by ( Jacob Zinkula | Andy Kiersz | ) www.businessinsider.com time to read: +5 min

Read previewNearly three million more Americans are working than they were in January 2020, but the number of US-born workers has barely budged. Roughly 64% of these recent immigrants were working or looking for work, compared to 62% of US-born workers. Over 16% of recent immigrants worked in the construction industry, compared to 6.4% of US-born workers. Roughly 17% of immigrants worked in the professional and business industry, compared to 12% of US-born workers. AdvertisementAbout 12% of recent immigrants worked in the accommodation and food services industry, compared to 7% of US-born workers.

Persons: —, Goldman Sachs Organizations: Service, of Labor Statistics, Business Locations: Mexico, New York, Chicago, US, South America, Central America, Florida , California , Texas, New Jersey , Illinois , Massachusetts, Georgia

USDA's recommended monthly food budget for a family of four has risen 27% since 2020. AdvertisementOn average, across the four food plans, the monthly budget recommendation has risen 27% since the start of 2020. Meanwhile, as of November, grocery prices were up 25.1% since the start of 2020, outpacing the 18.9% increase in overall prices. USDA Food Plan recommended monthly budgets. Andy Kiersz/Business InsiderWith food prices still weighing down consumers, some are becoming more conscious of how much they're spending and where.

Persons: USDA's, Andy Kiersz Organizations: US Department of Agriculture, USDA, USDA Food Locations: Alaska, Hawai'i

☆ YouTube's mass exodus of stars show the uncertainty of the creator economy
▼ + stars: | 2024-03-13 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, we're looking at a potential exodus of stars from YouTube and what it means for the creator economy. What's on deck:This story is available exclusively to Business Insider subscribers. AdvertisementBut some people who helped fuel YouTube's rise are walking away from the platform that gave them their big break. TikTok's challenges represent the ongoing uncertainty content creators face trying to make a living in such an unpredictable and shrinking world.

Persons: —, we've, Rebecca Zisser, It's, Insider's Lindsay Dodgson, MatPat, Lindsay, Andy Kiersz, Critics, it's, Alistair Barr, Dan, Jamie Dimon doesn't, Dimon, Karim Qubadi, Abanti Chowdhury, OpenAI, Musk's, Christopher Nolan's, Tyler Le, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Service, YouTube, Business, Nielsen, Gaming, ISI, SensorTower, BI, CPI, JPMorgan, Elon, University of Chicago, Quest, realtors, Meta, Google, Companies, Adidas Locations: United States, New York, London

☆ Remember the labor shortage? Immigrants are helping to fix it.
▼ + stars: | 2024-02-19 | by ( Jacob Zinkula | Andy Kiersz | ) www.businessinsider.com time to read: +5 min

AdvertisementThat means the strong job numbers of recent months have largely been due to immigrants , specifically foreign-born workers, entering the workforce in large numbers. “Foreign-born labor force participants have accounted for all of the job growth over the last year,” Bill Adams, an economist at Comerica Bank, told The New York Times. AdvertisementAdditionally, he said these job gains haven’t come at the expense of US-born workers either. As of 2022, foreign-born workers were more likely than US-born workers to be in service, natural resources, construction, and maintenance jobs, according to the Bureau of Labor Statistics. As of January, 65.7% of foreign-born workers were working or looking for work, compared to 61.4% of US-born workers.

Persons: —, ” Bill Adams, Paul Krugman, “ They're, ”, Louis, Miguel Faria, Castro, Donald Trump Organizations: Service, Business, Comerica Bank, New York Times, Bureau of Labor Statistics, Immigrants, Congressional, Office, St, Louis Fed

The vast majority — nearly $40 million — went to law firms working on his personal legal problems. But significant portions of their donations went to law firms defending Trump in civil cases involving his real-estate empire and its top executives, including Donald Trump Jr., Eric Trump, and Ivanka Trump. Only about $861,000 was spent on law firms working exclusively on political issues. Where there were gaps, we contacted law firms and individual lawyers who received money from the PACs. In 2021 and 2022 combined, Trump spent $16 million on legal fees through the Save America PAC.

Persons: Donald Trump, Trump, —, MAGA, Trump's, Donald Trump Jr, Eric Trump, Ivanka Trump, Stormy Daniels, Jean Carroll, Robert, Clifford S, Michael Cohen, — Troutman Pepper Hamilton Sanders, Kellogg, Hansen, Todd, Figel, Frederick —, Madaio, Alina Habba, Michael Madaio, Hillary Clinton, James Comey, Mary Trump, general's, Carroll, Trump —, Joe Tacopina, Chad Seigel, Christopher Kise, Jesus M, Suarez, Eli Bartov, Bryan Woolston, Silverman Thompson Slutkin, White, Evan Corcoran, Todd Blanche, Cadwalader, Taft, Blanche, Attorney Alvin Bragg's, Daniels, Susan Necheles, John Lauro, who's, Steven H, Drew Findling, Jennifer Little, Jesse R, it's, Jim, John Rowley, Eduardo Munoz Alvarez, Allen Weisselberg, Weisselberg, perjured, ArentFox Schiff, Jeff McConney, Stanley Woodward, Stanley Brand, Carlos de Oliveira, John S, Irving of, Boris Epshteyn, Kenneth Chesebro, Troutman Pepper, Ivanka, Newsmax, Harmeet, Dhillon, Bradley T, Morvillo Abramowitz, David Pecker, Elkan Abramowitz, Greenberg Traurig, Ballard Spahr, Mintz, Levin, Cohn, Ferris, Corey Lewandowski, Robert Mueller's, Jones, Andrew Kelly, It's, Forbes, defaming Carroll, he's Organizations: Service, Trump, Save America PAC, Make, Trump Organization, Politico, Reuters, New, Associates, Democratic National Committee, The New York Times, Times, Continental LLP, Inc, AP, Attorney, Capitol, Law, Taft, Brand Woodward Law, Irving of Earth & Water Law, Ivanka Trump, Republican National Committee, Save, MAGA, Curve Solutions, National Enquirer, Republican, MAGA PAC, Bloomberg Locations: New York, Georgia, Carroll, Manhattan, Florida, York, Washington, DC, Wickersham, Attorney Alvin Bragg's Manhattan, Fulton County , Georgia, codefendants, MAGAworld, Robert Mueller's Russia

☆ Baby boomers did one big thing we should all be grateful for
▼ + stars: | 2024-01-02 | by ( Andy Kiersz | ) www.businessinsider.com time to read: +11 min

The boomers had it great, the argument goes, but then they went and screwed it all up. For one thing, baby boomers didn't have it easy: The America they grew up in was poorer, less educated, less healthy, and more unfair than the society we live in today. To better understand how individuals and families are experiencing the economy, it's important to look at wages, income, and wealth. Boomers have consistently passed laws to make building housing harder, leaving the country with a structural housing deficit. Beyond the economy, the boomers have handed off other deep problems that the younger generations will have to solve.

Persons: Gen Zers, Zers, millennials, Norman Rockwell, —, they've, we're, it's, Zer, Andy Kiersz Organizations: Black, Boomers, Business Locations: America

☆ High food prices could keep Americans hating the economy for years to come
▼ + stars: | 2023-12-05 | by ( Jacob Zinkula | Andy Kiersz | ) www.businessinsider.com time to read: +4 min

High food prices are Americans' top concern about the economy, according to Morning Consult. Ninety percent of individuals said they were very or somewhat concerned about grocery and food prices , higher than any other factor surveyed. In part, these concerns can be attributed to rising food prices over the last few years. AdvertisementHigh food prices could be a key reason for this disconnect, Aaron Terrazas, Glassdoor's chief economist, told Business Insider. If Americans are hoping for cheaper food prices to come next year, they're unlikely to get their wish.

Persons: —, it's, Joe Biden's, Aaron Terrazas, haven't, Terrazas, Biden, McDonald's Organizations: Service, Bloomberg, Bureau of Labor Statistics, Business, US Department of Agriculture, Social Security Administration

If two people save $100 a month for retirement, but one starts at 25 and the other at 35, the early saver will have nearly twice as much by age 65. Starting to save now, wherever you are in your timeline, is better than starting tomorrow or next week. Chris and Jennifer both invest $100 a month at a 5% annual compound rate of return. Chris begins investing at age 25, putting away $100 every month until 65 and Jennifer begins saving $100 a month at age 35. Saving in a tax-advantaged retirement account, such as an IRA or 401(k), can give your money an even greater boost.

Persons: —, Jennifer, Chris, Andy Kiersz, Robinhood, Ameritrade, Hope isn't Organizations: Service, Business, Robinhood, supersavers

☆ You may hate high interest rates and home prices, but many boomers have reason to celebrate
▼ + stars: | 2023-09-23 | by ( Jacob Zinkula | Andy Kiersz | ) www.businessinsider.com time to read: +6 min

High home prices and interest rates have created many challenges for young Americans. These trends have been driven by the combination of high home prices and interest rates. By pushing up the number of renters, high home prices help keep young Americans' rent prices high. For young Americans, there's not a whole lot to like about high interest rates. Elevated rates not only contribute to the high mortgage rates that have helped make homeownership so expensive but also make credit-card debt all the more costly.

Persons: —, boomers, Xers, there's Organizations: Service, National Association of Realtors, Atlanta Fed, Federal, Federal Reserve, New, Boomers, US, Treasury Locations: Wall, Silicon, New York

☆ 10 signs the US economy may struggle in the next year
▼ + stars: | 2023-09-14 | by ( Madison Hoff | Noah Sheidlower | ) www.businessinsider.com time to read: +10 min

By raising interest rates, the Fed "wants us to buy fewer cars. There are signs that a drop in savings could be making it harder for Americans' to keep up with paying off debt. Long-term interest rates rising for non-economic reasonsLong-term interest rates are on the rise, even though economic data on the whole is improving. Higher-interest payments for the US governmentSløk also noted higher interest payments for the US government as another downside risk to the outlook. Projections published by the Congressional Budget Office show increasing estimates for the upcoming decades for federal interest payments as a share of GDP.

Persons: Torsten Sløk, Sløk, Paul Krugman, Persis Yu, Jan Hatzius, Goldman Sachs, Hatzius, it's, , you've, Andy Kiersz, That's, Brent Organizations: Service, Apollo Global Management, NYU Stern School of Business, Federal Reserve, San, San Francisco Fed, Student, Protection, CNBC, New York Fed, Banking, West Texas, Labor Statistics, US, Fitch, Congressional Locations: Wall, Silicon, San Francisco, China, Japan, Europe, Germany

☆ The 30 highest-paying jobs in New York State
▼ + stars: | 2023-08-28 | by ( Madison Hoff | ) www.businessinsider.com time to read: +2 min

Pediatric surgeon was the highest-paying job in New York, based on May 2022 data. Similarly to our published list of the highest-paying jobs in the US, medical occupations loom large on the list focused on New York. With the average for all occupations in the state being $74,870, all 30 of the highest-paying jobs in the state had averages well above that. AdvertisementAdvertisementBelow are the highest-paying jobs in New York. We included each jobs' average annual salaries and the number of people employed in each job in New York State from the Bureau of Labor Statistics.

Persons: Dermatologists, Andy Kiersz Organizations: Empire State, Pilots, Service, Bureau of Labor Statistics, BLS, New York Locations: Empire, New York, Wall, Silicon, New York State

☆ 34 high-paying jobs for people who don't like stress
▼ + stars: | 2023-08-21 | by ( Madison Hoff | ) www.businessinsider.com time to read: +3 min

O*NET scores job characteristics like stress tolerance on a scale from 0 to 100, where a 0 means stress tolerance is not at all necessary for an occupation, and 100 suggests a job with a very high-stress environment. We ranked occupations from most to least stressful using O*NET's stress tolerance score, with lower scores indicating less stressful jobs. For instance, postsecondary economics teachers had a stress tolerance score of 63 and had an average annual wage of $122,750. This job had a stress tolerance score of 51 and an average annual wage of $77,310. For instance, a few high-paying occupations had a stress tolerance score of 68, such as geoscientists and postsecondary mathematical science teachers.

Persons: Andy Kiersz Organizations: Service, Bureau of Labor Statistics Locations: Wall, Silicon

☆ Businesses are scrambling for tips right now because they don't want to raise wages in case of a recession
▼ + stars: | 2023-07-26 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

Firms don't want to raise wages because they're worried about a recession, so you pay workers instead. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. And now, businesses are trying to avoid making the larger wages those tips have augmented their responsibility, as the economy cools. Jonathan Morduch — a professor of public policy and economics at New York University — told the Wall Street Journal that as businesses prepare for a potential recession, "they don't want to lock into higher wages." "Businesses are happy to let workers earn more from tips, especially when there's no pressure to raise the tipped minimum," Morduch told the Wall Street Journal.

Persons: you've, they're, It's, Scheherezade Rehman, Jonathan Morduch —, New York University —, Andy Kiersz, Jacob Zinkula, Laurence Kotlikoff, what's, Morduch Organizations: Service, George Washington University, Wall Street, New York University, Boston University Locations: Wall, Silicon

☆ 'Skiplagging' to save money on plane tickets is only possible because airlines are breaking one of the basic laws of geometry
▼ + stars: | 2023-07-13 | by ( Andy Kiersz | Taylor Rains | ) www.businessinsider.com time to read: +4 min

That means buying cheaper tickets with a layover in their actual destination city instead of a direct flight. This only works because air fares violate the "triangle inequality," one of the basic laws of geometry. One of the most basic laws of geometry is something called the "triangle inequality." But that clearly is not always the case, and that violation of the triangle inequality is what makes skiplagging possible. If airlines want to fight skiplagging, a good first start would be making airfares into a geometrically-accurate metric.

Persons: skiplagging, Brian Hayes Organizations: Flyers Locations: layover, New York, Amsterdam, London

☆ The Fed just paused on raising interest rates. Here's what it means for jobs, prices, and your bank account this summer.
▼ + stars: | 2023-06-14 | by ( Bartie Scott | Andy Kiersz | ) www.businessinsider.com time to read: +7 min

The Federal Reserve announced Wednesday that it would not raise interest rates this month. It's important to note that a one-time pause doesn't mean interest rates won't rise any more at future meetings, but the committee signaled that an end is in sight. The decision included a projection of two more 25 basis point rate hikes before the end of the year. Critics of the Fed's aggressive rate hikes over the last year have said they risk putting Americans out of work by squeezing businesses. The Fed needs to slow down on these extreme rate hikes and remember its dual mandate of price stability and maximum employment.

Persons: —, Jerome Powell, Noah Sheidlower, Jobs, Massachusetts Sen, Elizabeth Warren, Powell, it's, Joe Brusuelas, Brusuelas, Kathy Gramling, Marta Norton, Norton Organizations: Federal Reserve, Service, Fed, Capital Economics, Food, RSM, EY, Morningstar Wealth's America, Silicon Valley Bank, First, FDIC Locations: Massachusetts, EY Americas, Silicon, First Republic

☆ Pay raises just caught up with inflation for the first time in 2 years
▼ + stars: | 2023-06-13 | by ( Bartie Scott | Andy Kiersz | ) www.businessinsider.com time to read: +3 min

For two years, inflation has outpaced wage growth and economic mobility stalled for many US workers. Now, however, while wage growth has been slowing over the last several months, inflation has been coming down even faster. Of course, this is just one month of real wage growth after two years of average pay lagging behind rising prices. Looking closer at what's draining Americans' wallets the most could give an indication of who will benefit more from real wage growth. The slowdown in inflation comes as the Fed weighs its next move in its fight against rising prices.

Persons: —, they're, That's Organizations: Service, Bureau of Labor Statistics

☆ West Coast unemployment is the worst in the US as tech firms slash headcount
▼ + stars: | 2023-06-05 | by ( Andy Kiersz | ) www.businessinsider.com time to read: +2 min

California, Oregon, and Washington were all in the top 10 states with the highest unemployment rates in April. The West Coast has borne the brunt of tech layoffs in recent months. California's 4.5% rate, Washington's 4.3%, and Oregon's 4.0% were all well above the national unemployment rate of 3.5% that month. Nevada came in with the highest unemployment rate in April at 5.4%. Still, the rest of the year will show whether or not the recent wave of tech layoffs spreads to the broader economy and leads to a long-awaited recession.

Persons: — Organizations: Service, Bureau of Labor Statistics Locations: California, Oregon, Washington, West, San Francisco, Seattle, California's, Nevada, Texas, New York

☆ The US labor market is still red-hot, adding 339,000 jobs in May
▼ + stars: | 2023-06-02 | by ( Madison Hoff | Andy Kiersz | ) www.businessinsider.com time to read: +4 min

The unemployment rate climbed to 3.7% in May, according to the jobs report on Friday. This monthly job growth came in far above the forecast of 180,000. Job openings data for April was released by the BLS on Wednesday. Data from the Job Openings and Labor Turnover Survey (JOLTS) showed that after a few months of job openings consecutively falling, there was an uptick from March to April. The number of layoffs and discharges fell by 264,000 from March to April to 1.6 million, according to the latest JOLTS report.

Persons: —, Daniel Zhao, Glassdoor's, Nick Bunker, Nela Richardson Organizations: Service, payrolls, Labor Statistics, BLS, Bureau of Labor Statistics, Federal Reserve, Labor, Bank of America Institute, Bank of America

Some popular big cities are losing residents, US Postal Service change-of-address requests indicate. Requests made in 2023 also show that smaller spots outside big cities have tended to gain residents. Smaller spots outside larger urban hubs, meanwhile, are attracting more residents than they're losing. Many people move over the summer to avoid pulling kids out of school midyear, so end-of-year change-of-address data may shed light on other patterns. Also, bigger cities are more likely to both lose and gain people because of their larger populations; the USPS doesn't adjust its numbers according to population.

☆ Why are you suddenly being asked to tip more? It could be because workers are getting more expensive.
▼ + stars: | 2023-05-21 | by ( Jacob Zinkula | Andy Kiersz | ) www.businessinsider.com time to read: +5 min

More and more businesses are asking customers to tip. It's driven in part by the spread of digital payment technologies that include prompts to tip workers. Workers are getting more expensive, and tips help cover the costBusinesses relying on tips to help pay their workers is far from a new phenomenon — particularly in the restaurant industry. One potential reason service businesses are warming up to tipping is that they're under particular pressure to keep labor costs in check. In recent years, many service businesses have struggled to attract workers and been forced to raise pay considerably as a result.

☆ Blue-collar workers could save the US from recession as the tech industry withers
▼ + stars: | 2023-05-14 | by ( Juliana Kaplan | Andy Kiersz | ) www.businessinsider.com time to read: +8 min

After a pandemic-era tech jobs boom — and now bust — more and more Americans are returning to blue-collar work for better pay and more security. As AI stands poised to potentially remake white-collar work, blue-collar work may emerge even more resilient. The Biden administration has been devoted to turning that around, pouring billions into projects devoted to bringing manufacturing jobs back stateside. And another key to the puzzle is treating blue-collar work with respect, like any other work — including high-paying tech jobs. Are you thinking of taking the plunge into blue-collar work, or have you already?

While remote workers are hitting the green on weekday afternoons, productivity isn't dropping. That's good news for leisure businesses and shows remote work has changed people's work structures. While some companies have called employees back to the office, Bloom doesn't think remote work is going anywhere. All those remote workers hitting the green doesn't necessarily mean people are working less. This will raise 'Golf productivity' — the number of golf courses played (and revenue raised) per course."

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