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Search resuls for: "Alison Kosik"


4 mentions found


☆ A recession could hit white-collar workers the hardest. Here’s why
  + stars: | 2022-11-16 | by ( Alison Kosik | ) edition.cnn.com   time to read: +2 min
New York CNN Business —White collar workers would be hit harder than blue collar workers if the United States enters a recession soon, according to one economist, who said businesses have undergone a dramatic restructuring after the pandemic. “Covid shifted things around,” said William Lee, chief economist at the Milken Institute. The pandemic has accelerated automation, Lee said, and that’s pushing low-skilled white collar workers out of jobs. Those tend to be high-paying, more white-collared jobs, Challenger said. “Tech companies hired a lot over the past year and a half and they’re going through what seems to be a correction,” he said.
☆ A recession would likely hit white collar workers more, economists say
  + stars: | 2022-11-16 | by ( Alison Kosik | ) edition.cnn.com   time to read: +2 min
New York CNN Business —White collar workers would be hit harder than blue collar workers if the United States enters a recession soon, according to one economist, who said businesses have undergone a dramatic restructuring after the pandemic. “Covid shifted things around,” said William Lee, chief economist at the Milken Institute. The pandemic has accelerated automation, Lee said, and that’s pushing low-skilled white collar workers out of jobs. Those tend to be high-paying, more white-collared jobs, Challenger said. “Tech companies hired a lot over the past year and a half and they’re going through what seems to be a correction,” he said.
☆ Some relief for consumers: Prices on a few grocery items are actually coming down
  + stars: | 2022-11-10 | by ( Parija Kavilanz | ) edition.cnn.com   time to read: +3 min
For most consumers, price breaks on their groceries come as welcome relief given that store food prices overall have surged 12.4% through October versus a year ago. In fresh produce, the average unit price for prepared mixed vegetables from July to September (the latest data available) dropped 68% versus the same period last year. In fruits, the average unit price is down 1.8% for tangerines and has declined 7% for dates in the same three-month period. A lot of fresh seafood options are cheaper as well: the average unit price for striped bass fell 41.8% (July through September) over the prior year. “You’re are seeing a little bit of an increase in turkey [prices] but you are also seeing a little bit of reduction in chicken.
☆ NYC faces a potential fiscal cliff with a nearly $10 billion deficit by 2026
  + stars: | 2022-09-20 | by ( Alison Kosik | Kate Trafecante | Cnn Business | ) edition.cnn.com   time to read: +1 min
New York (CNN Business) The New York State Comptroller said Tuesday that several of New York City's fiscal challenges could result in a budget gap nearing $10 billion by 2026 — potentially affecting essential services in the future. Total revenue is expected to decline by $10.5 billion in fiscal year 2023, according to a new report titled "Review of the Financial Plan of the City of New York." The city's fiscal position "significantly improved" last year, the report added, but that was due to several one-time factors, including higher than expected tax revenue, extraordinary federal COVID relief aid, and record pension returns due to the stock market's gains. Many of those factors have begun to reverse, the comptroller said. New York City Mayor Eric Adams said during a press conference on Monday that the city is getting ready to "enter a financial typhoon."
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