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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy job listing qualifiations feel absurdLacking enough or the right experience, skills, credentials and/or education ranked second among the biggest barriers for jobseekers in 2022, according to McKinsey & Co. The cooling labor market has made it more difficult to find a job. Kory Kantenga, Senior Economist at LinkedIn, said that is felt acutely in the entry-level job market. Some workplace experts blame inflated job requirements and layoffs of recruiters, while others point to a skills miss-match between available jobs and recent graduate degrees.

Persons: Kory Kantenga Organizations: McKinsey & Co, LinkedIn

Entry-level jobs are typically thought of as positions requiring little to no prior experience or skills. But it's a longstanding gripe among job seekers on social media that job listings' requirements are more ambitious. "Companies listing 'Masters preferred' for entry level office positions," posted another. In a 2022 report from McKinsey & Company, the second-most-cited barrier to employment was a lack of experience, relevant skills, credentials or education. Less than 61% of human resources leaders said in 2023 that they are hiring for entry-level and less-specialized positions, down from 79% in 2022, according to a PwC survey.

Persons: Julia Pollak Organizations: Finance, Treasury Department, McKinsey & Company Locations: TestGorilla

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's how you know it's time to leave your jobA majority of Americans, 95%, said they plan to look for a new job in 2024, according to a survey by job site Monster. Money's a big part of this: 45% of American workers say they need a higher income. Data from the Federal Reserve shows that job switchers increase their salary more quickly on average than those who stay put, but hiring professionals say it's still important for candidates to be strategic when making career moves.

Organizations: Federal Reserve

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEconomists discuss the effects of climate change on the U.S. economyAs the climate crisis continues to pose a global threat, top economists are debating its effects on the U.S. economy. In this episode of "The Bottom Line," see how renowned economists such as Jeffrey Sachs and Mark Zandi forecast the economic impact.

Persons: Jeffrey Sachs, Mark Zandi Locations: U.S

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy the U.S. can't solve immigration2023 saw record-breaking numbers of migrant crossings at the southwestern border, with Border Patrol reporting nearly 250,000 encounters in December alone. But today, less than 1% of those looking to reside permanently in the U.S. can do so legally, according to the CATO institute. Transactional Records Access Clearinghouse estimates that the immigration court currently has a backlog of over 3 million cases. So how did the immigration system in the U.S. get so broken? And can it ever be fixed?

Persons: CATO Organizations: Border Patrol Locations: U.S

☆ U.S. legal immigration policy should prioritize the economy, experts argue
▼ + stars: | 2024-03-13 | by ( Juhohn Lee | ) www.cnbc.com time to read: +1 min

The U.S. has more foreign-born residents than any other country, according to the Council on Foreign Relations. But today, less than 1% of those looking to reside permanently in the U.S. can do so legally, according to research by the Cato Institute. "Most other developed nations in the world have a much higher percentage of their immigration system based on economics," according to Theresa Cardinal Brown, a senior advisor on immigration and border policy at the Bipartisan Policy Center. The U.S. legal immigration system is in dire need of reform to make it work for the U.S. economy, experts say. Watch the video above to see why the U.S. is having so much trouble solving the immigration crisis.

Persons: Theresa Cardinal Brown, Brown, Simon Hankinson Organizations: U.S, Foreign Relations, Cato Institute, Center, Department of Homeland Security, Heritage Foundation Locations: U.S

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy the immigration crisis is bankrupting U.S. citiesThe ongoing migrant crisis is unprecedented, both in scale and the effect it has had beyond the border states to cities located deep within the country. Major cities such as New York, Denver and Chicago are finding themselves under extreme financial pressure, exacerbated by the lack of federal funding or assistance. So just how long can cities withstand the recent surge of migrants and what do they need to end the crisis?

Locations: U.S, New York, Denver, Chicago

☆ The immigration crisis may bankrupt cities such as New York, Denver and Chicago as federal funds fall short of needs
▼ + stars: | 2024-02-24 | by ( Juhohn Lee | ) www.cnbc.com time to read: +2 min

The recent surge of migrants has put major cities across the U.S. under significant financial pressure. But experts say more federal assistance and funding are necessary to ensure that cities can survive the ongoing crisis. For instance, the $145 million allocated to New York City is less than 10% of what the city spent on migrant services in fiscal 2023, according to the Migration Policy Institute, a nonpartisan think tank. "These are complicated issues to manage, so the city, the state and the federal government, frankly, were not prepared for it." Watch the video above to see just how much financial pressure cities across the U.S. are facing due to the ongoing migrant crisis.

Persons: Biden, Simon Hankinson, Debu Gandhi, Muzaffar Chishti Organizations: The Heritage Foundation, The Center, American Progress, FEMA, Migration Policy Institute Locations: New York, Denver, Chicago, Washington ,, New York City, U.S

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe hidden reason some U.S. homes are losing valueMany homeowners in the U.S. are losing their home insurance policies. Major insurers like State Farm and Allstate are no longer offering new policies in California. State Farm attributes this to increased wildfire risk, inflation and other challenges in the region. Louisianan and Floridian homeowners are facing similar issues due to flood risk. Watch the video to learn more about why homeowners are receiving non-renewal notices and what that means for the U.S. real estate market.

Organizations: Farm, Allstate, U.S Locations: U.S, California ., Louisianan

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow RealPage influences rent prices across the U.S.RealPage software is used to set rental prices on 4.5 million housing units in the U.S. A series of lawsuits allege that a group of landlords are sharing sensitive data with RealPage, which then artificially inflates rents. The complaints surface as housing supply in the U.S. lags demand. Some of the defendant landlords report high occupancy within their buildings, alongside strong jobs growth in their operating regions and slow home construction.

Locations: U.S ., U.S

☆ Economists say the labor market is strong — but job seekers don't share that confidence. Here's why
▼ + stars: | 2024-02-02 | by ( Juhohn Lee | ) www.cnbc.com time to read: +1 min

The job market looks solid on paper. Over the course of 2023, U.S. employers added 2.7 million people to their payrolls, according to government data. Unemployment hit a 54-year low at 3.4% in January 2023 and ticked up just slightly to 3.7% by December. "The labor market has been fairly strong and surprisingly resilient," said Daniel Zhao, lead economist at Glassdoor. More than half, 55%, of unemployed adults are burned out from searching for a new job, Insight Global found.

Persons: Daniel Zhao, Jenna Jackson, it's, Jackson Organizations: Finance, Insight Global, Insight Locations: Ardmore , Pennsylvania

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy getting a job feels so difficult right nowThe job market looks solid on paper. In 2023, U.S. employers added 2.7 million people to the payroll, according to the Bureau of Labor Statistics. But it's a different story for active job seekers. A staffing firm Insight Global found that recently unemployed full-time workers applied to an average of 30 jobs, only to receive an average of four callbacks or responses. So why does it feel so hard to get a job right now and is the U.S. labor market as strong as it seems?

Organizations: Bureau of Labor Statistics, Insight Global Locations: U.S

☆ How to set an annual budget
▼ + stars: | 2023-12-30 | by ( Juhohn Lee | Lindsey Jacobson | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow to set an annual budgetIn 2023, 40% of Americans said they don't make New Year's money resolutions and 68% said they have no written financial plan at any point in the year. But having a budget and an awareness of exactly how much is coming in and going out is a key part of managing personal finances. CNBC asked financial experts how to set an annual budget for the New Year.

Organizations: CNBC

☆ The first step to setting an annual budget: Figuring out your net income
▼ + stars: | 2023-12-30 | by ( Juhohn Lee | ) www.cnbc.com time to read: +2 min

However, setting a budget goes a long way in managing your personal finances. "Many people spend time doing a New Year's resolution," said Kamila Elliott, a certified financial planner at Collective Wealth Partners. "Knowing your income is extremely important because you know exactly how much you have to deploy," explained Elliott. The final step is setting a goal. Watch the video to find out more about how to set an annual budget for the New Year.

Persons: Kamila Elliott, Elliott Organizations: BMO Financial Group, Wealth Partners, Social Security, CNBC's

☆ How the American Red Cross makes and spends its billions
▼ + stars: | 2023-11-26 | by ( Juhohn Lee | Lindsey Jacobson | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow the American Red Cross makes and spends its billionsThe American Red Cross has long been recognized as the universal symbol of humanitarian services — and it's an expensive operation. In 2022, the American Red Cross had net assets of about $2.7 billion and spent just more than $3 billion in operating expenses the same year. But the sheer size of its budget has also raised concerns over the years. So how does the American Red Cross make and spend its billions?

Organizations: American, Cross

☆ Here's how the American Red Cross makes money from donated blood
▼ + stars: | 2023-11-26 | by ( Juhohn Lee | ) www.cnbc.com time to read: +2 min

The American Red Cross has long been recognized as the universal symbol of humanitarian services —and it's an expensive operation. "When the White House starts raising money, when the big corporations, the NFL, Hollywood A-listers are raising money for the aftermath of a disaster, it's most likely targeted toward the American Red Cross." When CNBC inquired about the pricing of these products, the American Red Cross responded that "prices for a unit of red blood cells is proprietary information. A majority of the American Red Cross' operating expenses, just over $2 billion, is also spent on collecting blood, according to its financial statements. Watch the video above to see how the American Red Cross makes and spends its billions.

Persons: Jake Johnston, Laurie Styron, Michael Thatcher Organizations: Center for Economic, White House, NFL, Hollywood, CNBC, Cross, Navigator

☆ Why oil majors Shell and BP are combining solar energy and agricultural production
▼ + stars: | 2023-11-14 | by ( Katie Brigham | ) www.cnbc.com time to read: +6 min

Stoffels owns this land, but leases it to Lightsource BP, a major solar energy developer that's 50% owned by British oil major BP. An emerging industry called agrivoltaics combines solar energy production with agricultural activities such as sheep grazing, beekeeping and crop growing. Today, the U.S. has about five gigawatts of agrivoltaic projects, encompassing more than 35,000 acres across over 30 different states. Shell is also involved in the space through its 44% stake in solar developer Silicon Ranch. While most solar developers opt to lease land, Silicon Ranch buys it outright, often purchasing degraded farmland that's no longer in production.

Persons: Amanda Stoffels, munch, Stoffels, Lightsource, Jordan Macknick, Macknick, Lee, Tom Koranek, Becca Jones, Albertus, Katie Brigham Lightsource, Reagan Farr, Farr, Exxon haven't Organizations: Elm, BP, Lightsource, Lead, National Renewable Energy Laboratory, U.S, U.S . Department, Energy's Solar Energy Technologies Office, Shell, Silicon Ranch, Ranch, Power, Chevron, Exxon Locations: Dallas , Texas, United States, Elm, Ellis County , Texas, Lightsource, U.S, Briar, Navarro County , Texas, agrivoltaics

"The majority of my friends who are single and living alone are stressed about the cost of living," Kaishon Holloway, a single man living in New York City, tells CNBC. On top of being solely responsible for living costs that couples can split, single people are excluded from several financial benefits reserved for married couples. Kaishon Holloway says he and his single friends are stressed about the cost of living. Single people often have to choose between getting a roommate or covering the entire cost of a house or apartment on their own. In some cases, married couples have advantages that simply don't exist for single individuals, such as with income taxes.

Persons: Kaishon Holloway, it's, Juhohn Lee, Mark Licea, Bella DePaulo, Monique Morrissey, that's, Holloway Organizations: Census, CNBC, U.S, Missouri Economic Research, Information, Massachusetts Institute of Technology, Economic Policy, Tax Locations: U.S, New York City, South Carolina, Missouri, New York

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy manufacturing is coming back to the U.S. The Biden administration is spending big on industrial policies, such as the CHIPS and Science Act and the Inflation Reduction Act, to bring semiconductor and electric vehicle manufacturing to the U.S. But some economists warn against the dangers of the government playing favorites in a free market. So how exactly is the U.S. government convincing manufacturers to return? And will that high-stakes bet pay off?

Persons: Biden Organizations: U.S Locations: U.S

☆ The Biden administration bet big on industrial policies. Experts warn it may not pay off
▼ + stars: | 2023-09-25 | by ( Juhohn Lee | ) www.cnbc.com time to read: +2 min

With the introduction of new laws, such as the CHIPS and Science Act and the Inflation Reduction Act of 2022, the Biden administration has been betting big on industrial policies to bring manufacturers back to the United States. This isn't the first time the U.S. government has spent tax dollars to guide industrial policy. If successful, industrial policies can potentially lead to big payoffs. "An example would be the development of mRNA vaccines for Covid," said Ed Gresser, vice president and director for trade and global markets at the Progressive Policy Institute. And that simply is a deterrent for investment and job creation here in the U.S."Watch the video to learn more about how industrial policies are affecting the manufacturing sector in the United States.

Persons: Biden, Scott Lincicome, Ed Gresser, Linicicome, Lincicome, Jay Timmons Organizations: Cato Institute, Progressive Policy Institute, National Association of Manufacturers, U.S . Locations: United States, Washington, U.S

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow Wall Street trades student loansStudent loans are a big business. The U.S. has amassed more than $1.7 trillion in outstanding student debt. But while more than 43 million Americans are currently holding student debt, many are unaware of what exactly happens with their loans after they are issued. Billions of dollars worth of student loans are packaged and sold as assets known as SLABS to some of the biggest investors in America. So what exactly are SLABS and how do they help Wall Street profit from student loans?

Locations: U.S, America

☆ Here's why some economists are concerned student loans may cause the next big bubble
▼ + stars: | 2023-08-31 | by ( Juhohn Lee | ) www.cnbc.com time to read: +2 min

Billions of dollars worth of student loans are packed and sold as assets known as student loan asset-backed securities to some of the biggest investors in America. But as student loans continue to balloon, experts have expressed growing concerns surrounding the SLABS market. She continued, "I think one of the key ways to uncover the similarities between student loans and mortgages is to look at the affordability issue." But the Consumer Financial Protection Bureau estimates that one in five student loan borrowers have risk factors that could cause them to struggle when federal student loan payments resume in October. Watch the video to learn more about why experts are concerned about the state of the SLABS market.

Persons: Louis, Allison Pyburn, Eleanor Xu, Elen Callahan, Xu Organizations: U.S, Federal Reserve Bank of St, U.S . Department of Education, Financial, Seton Hall University, Structured Finance Locations: America

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy Americans can't stop living paycheck to paycheckAlmost three-quarters, 72%, of Americans say they aren't financially secure given their current finances and more than a quarter of Americans said they'll likely never be financially secure, according to a survey by Bankrate. With well over half of Americans living paycheck to paycheck, many are failing to meet some of their modest financial goals. So how did it become so difficult to be financially secure in America, and what can you do about it?

Persons: they'll Locations: America

☆ Here's why Americans can't stop living paycheck to paycheck
▼ + stars: | 2023-08-17 | by ( Juhohn Lee | ) www.cnbc.com time to read: +2 min

For many Americans, payday can't come soon enough. As of June, 61% of adults are living paycheck to paycheck, according to a LendingClub report. In other words, they rely on those regular paychecks to meet essential living expenses, with little to no money left over. Almost three-quarters, 72%, of Americans say they aren't financially secure given their current financial standing, and more than a quarter said they will likely never be financially secure, according to a survey by Bankrate. That amount already accounts for about 61% of the median take-home pay.

Persons: Ida Rademacher, there's, Kamila Elliott Organizations: Aspen Institute, Principal Financial, Institute, Finance, U.S . Bureau of Labor Statistics, for Community, Economic Research, Wealth Partners, CNBC's Locations: U.S, Atlanta

☆ Why the U.S. gave up on public transit
▼ + stars: | 2023-07-25 | by ( Juhohn Lee | Lindsey Jacobson | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy the U.S. gave up on public transitPublic transit in the U.S. is notorious for being infrequent and unreliable. And while the U.S. spends billion on public transit funding every year, many systems across the nation are finding themselves in a fiscal crisis. So just how did public transit in the U.S. get so inefficient? And what are the possible solutions for its improvement?

Locations: U.S

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