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☆ A rate cut in June is still on tap because the job market is weakening, Citi economist says
  + stars: | 2024-04-25 | by ( Jennifer Sor | ) www.businessinsider.com   time to read: +3 min
It's still likely the Fed will issue its first rate cut this June, Citi economist Veronica Clark said. That's because central bankers will need to support a weakening labor market, Clark told Yahoo Finance. AdvertisementThe Federal Reserve is still likely to cut rates in June in order to prop up the labor market amid a slowdown in hiring, according to Citi economist Veronica Clark. "We have a base case for June still," Clark said of rate cuts, though she noted a July Fed rate cut was also possible. Markets are now pricing in just one or two cuts by December, according to the CME FedWatch tool, down from as many as seven rate cuts projected at the start of 2024.
Persons: It's, Veronica Clark, Clark, —, That's, Powell Organizations: Citi, Yahoo Finance, Service, Bureau of Labor Statistics — Locations: Central
☆ A couple that quit full-time work in their 20s share the money mindset that 'propelled' them to financial independence without altering their quality of life: 'We made zero sacrifices'
  + stars: | 2024-04-12 | by ( Kathleen Elkins | ) www.businessinsider.com   time to read: +4 min
Lauren and Steven Keys built a million-dollar portfolio from scratch, which set them up to quit their full-time jobs in their 20s and pursue various side projects and creative work. "We made, honestly, zero sacrifices on our journey," Steven said, noting that they never budgeted or tracked their spending. The couple kept the cost of their hobbies in check and sometimes even found ways to monetize them. In fact, it made us significantly more money than it cost us in the first place," said Steven. Playing Magic: The Gathering, on aggregate over my lifetime, has actually made me money, not cost me."
Persons: Lauren, Steven Keys, Steven, we're Organizations: Business, Bureau of Labor Statistics — Locations: The Florida, United States
☆ The gig economy, overemployment, and job switching have made it easier than ever to boost your income. But those strategies aren't always worth it.
  + stars: | 2024-03-18 | by ( Jacob Zinkula | ) www.businessinsider.com   time to read: +7 min
Some side hustles come with a significant time investment and unpredictable pay. Related storiesNot all side hustles come with the time investment that ride-hailing does. But everyone with a side gig is faced with the same question: Are the extra working hours worth the financial reward? Only eight months after he started, he resigned from his two extra roles and decided to stop job-juggling for the time being. But all prospective job-switchers are faced with the same question: Are the uncertainties that come with a new job worth the financial reward?
Persons: —, switchers, Lyft, There's, overemployment Organizations: Service, Business, Harris Poll, Uber, Twin Cities, Bureau of Labor Statistics —, Federal Reserve Bank of Atlanta, Harris, Atlanta Fed Locations: Atlanta, Minnesota, Texas
☆ The remote work revolution is crashing into a cold reality: Research is finding workers are less productive at home
  + stars: | 2023-08-11 | by ( Jacob Zinkula | ) www.businessinsider.com   time to read: +6 min
Recent research found that fully remote workers were less productive than office workers. A recent analysis of multiple studies by the Stanford economist Nick Bloom, a leading remote-work expert, found that fully remote workers were 10% to 20% less productive than their in-office counterparts. But the research has found, on average, those working in the office at least some of the time are more productive . Even Zoom, which is synonymous with remote work, recently called some employees back to the office for at least two days a week. Bloom recently estimated 60% of Americans worked fully in person, 30% worked in person between one and four days per week, and 10% worked fully remotely.
Persons: Nick Bloom, Mark Zuckerberg, Marc Benioff, Jeff Moriarty, Moriarty, he's, Kate Ecke, Ecke, telehealth, it's, Raj Choudhury, Stanford's Bloom, Bloom Organizations: Service, National Bureau of Economic Research, Stanford, Bureau of Labor Statistics —, Meta, Harvard Business School Locations: Wall, Silicon, India, Chicago, New Jersey
☆ What’s ahead this week for Wall Street and the economy
  + stars: | 2023-07-23 | by ( Krystal Hur | ) edition.cnn.com   time to read: +5 min
Case Shiller house price index for May and consumer confidence for July from the Conference Board. Earnings reports from AT&T, Boeing, Meta Platforms, Mattel, Stellantis and Chipotle Mexican Grill. Earnings reports from Coca-Cola, Mondelez, Honeywell, Keurig Dr Pepper, Royal Caribbean, Anheuser-Busch Inbev, Southwest Airlines and Hershey. Friday: Personal Consumption Expenditures price index for June, Employment Cost Index for the second quarter and University of Michigan consumer sentiment for July. Earnings reports from Procter & Gamble, Chevron and Exxon Mobil.
Persons: Jerome Powell, David Smith, Powell, Christopher Waller, ”, Dustin Thackeray, Tesla, Chris Isidore, —, Case, Dr Pepper Organizations: CNN Business, Bell, CNN, Fed, Traders, Rockland Trust, Big Tech, Microsoft, Meta, Crewe Advisors, Nasdaq, Netflix, Safety, Health Administration, doesn’t, Biden Administration, Bureau of Labor Statistics —, Ryanair, Federal Reserve, Conference Board, General Motors, Daniels, Midland, Verizon, PacWest, Boeing, Mattel, Honeywell, Anheuser, Busch Inbev, Southwest Airlines, Hershey, University of Michigan, Procter & Gamble, Chevron, Exxon Mobil Locations: Rockland, American, United States, PacWest Bank, Royal Caribbean
☆ What to expect from the jobs report
  + stars: | 2023-05-04 | by ( Alicia Wallace | ) edition.cnn.com   time to read: +7 min
Minneapolis CNN —If the latest employment trends continue and economists’ forecasts prove true, Friday’s jobs report could bring back that pre-pandemic feeling. Economists expect the US economy to have added 180,000 jobs in April, according to consensus estimates on Refinitiv. It could also hammer home the fact that the US labor market has indeed cooled down from its red-hot recovery over the past two years. What a rising unemployment rate meansEconomists are expecting the unemployment rate to tick up to 3.6% from 3.5%, according to Refinitiv. Mixed signalsPayroll processor ADP’s monthly look at private-sector employment activity, released two days before the BLS’ employment report, is sometimes looked at as a preview of what to expect from the federal data.
☆ Healthcare, college education, and childcare started getting worse decades ago. Now we're all finally feeling it.
  + stars: | 2023-04-08 | by ( Juliana Kaplan | ) www.businessinsider.com   time to read: +16 min
Americans are accruing billions in debt to pay for things like education and healthcare. But that would require shifting the idea of childcare, education, and healthcare and thinking of them as public goods — not businesses. That ultimately meant millions in funding for public childcare. "If the US health system was a country, it would be about the fourth-largest country in the world," Cooper said. There's much less government involvement in the US healthcare system than in other countries, Cooper said.
☆ Remote job options are dwindling
  + stars: | 2023-03-27 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com   time to read: +4 min
The following chart shows select industries and which ones among them have the highest share of establishments where people teleworked all the time. BLS data shows the information sector had a relatively high share of establishments where workers worked remotely all the time, at 42.2%. While remote options may seem to be dwindling, some experts Insider talked to say that remote work is going to continue to be prevalent. "Remote work has been a huge and permanent change to how people work and live," Adam Ozimek, chief economist at the Economic Innovation Group, told Insider. Have you had to choose between returning to the office or losing your job?
☆ Inflation is cooling, but prices on many items are going to stay high for months
  + stars: | 2023-01-25 | by ( Melissa Repko Amelia Lucas | Melissa Repko | Amelia Lucas | ) www.cnbc.com   time to read: +7 min
That surge in demand and limited supply contributed to higher prices. But diners will likely still pay higher menu prices than they were last year. Dutch Bros. Coffee CEO Joth Ricci told CNBC that most coffee businesses hedge their prices six to 12 months in advance. However, Zandi said, if the job market remains strong, inflation eases and wages grow, Americans can better manage higher prices for airfare and other items. Several hot pandemic items, including TVs, computers, sporting goods and major appliances have dropped in price, according to Labor Department data from December.
☆ Why is everyone crying on LinkedIn?: 'The numbers were very clear'
  + stars: | 2022-09-28 | by ( Aditi Shrikant | ) www.cnbc.com   time to read: +4 min
"Dominic hit Kai in the face with a broom," begins Kwame Christian's LinkedIn post. 'I was very annoyed people liked the family stuff'Christian started sharing more about his life outside work on LinkedIn about a year ago. "I actually posted it on Facebook first, and someone suggested I post on LinkedIn and I reluctantly did," she says. The most obvious cause for the proliferation of personal LinkedIn posts is the pandemic. Like most trends that cropped up in the last three years, Covid-19 didn't invent the sappy LinkedIn post, it just catalyzed its adoptions.
☆ While DeSantis was flying legal asylum seekers to Martha's Vineyard, business owners in his state are struggling for workers
  + stars: | 2022-09-26 | by ( Vanessa Yurkevich | ) edition.cnn.com   time to read: +6 min
Which is why some business owners in Florida were perplexed when Florida Governor Ron DeSantis sent legal asylum seekers from San Antonio, Texas, to Martha’s Vineyard on two flights earlier this month. Asylum seekers are legally able to work in the United States while they await their asylum cases. Whether the asylum seekers intended to go to Florida or not, business owners there are signaling they would welcome them. Florida granted 7,101 asylum seekers permanent political asylum status between 2018-2020, just behind California and New Jersey. Gautam believes if more asylum seekers are granted permanent status, it will be “a game changer” for the longevity of his business and workforce.
☆ While DeSantis was flying legal asylum seekers to Martha's Vineyard, business owners in his state were struggling for workers
  + stars: | 2022-09-26 | by ( Vanessa Yurkevich | ) edition.cnn.com   time to read: +6 min
Which is why some business owners in Florida were perplexed when Florida Governor Ron DeSantis sent legal asylum seekers from San Antonio, Texas, to Martha's Vineyard on two flights earlier this month. Asylum seekers are legally able to work in the United States while they await their asylum cases. Whether the asylum seekers intended to go to Florida or not, business owners there are signaling they would welcome them. Florida granted 7,101 asylum seekers permanent political asylum status between 2018-2020, just behind California and New Jersey. Gautam believes if more asylum seekers are granted permanent status, it will be "a game changer" for the longevity of his business and workforce.
☆ A Hawaii restaurant group illegally shared $59,000 tips accumulated by 70 servers among managers, DOL says
  + stars: | 2022-07-07 | by ( Grace Dean | ) www.businessinsider.com   time to read: +3 min
A Hawaii restaurant group illegally shared $58,855 of servers' tips among managers, the DOL said. The 70 servers' tips were used to top up managers' salaries after the company cut them, per the DOL. The restaurant paid $117,710 in taken tips plus damages to the servers following the investigation. The DOL said DK Restaurant Group, which operates seafood, sushi, and steak restaurants in Hawaii, reduced managers' salaries by "at least" 25% when it reopened its locations after COVID-19 lockdown — then topped up managers' salaries using tips accumulated by 70 servers. Previous investigations by the DOL have found that other restaurants have committed similar FLSA violations by withholding servers' tips, including making them participate in illegal tip pools.
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