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☆ Dow drops by nearly 500 points after a surprisingly bad inflation report
▼ + stars: | 2024-04-10 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +2 min

New York CNN —US stocks fell sharply Wednesday morning after inflation data for March came in higher than expected. That’s up considerably from February’s 3.2% rate and marks the highest annual gain in the past six months. Investors worry this will push back the Fed’s timeline for the rate cuts it has been hinting would come this year. The 10-year Treasury yield, which serves as a standard for mortgage and loan rates, surged after the announcement, approaching 4.5%. Shares of bank stocks fell.

Persons: Dow, “ Today’s, ”, Seema Shah, Wells Organizations: New, New York CNN, Nasdaq, Bureau of Labor Statistics, Asset Management, Treasury, Bank of America, JPMorgan Chase, Microsoft, Apple Locations: New York, Wells Fargo

☆ The job market looks rock-solid, but there are 4 signs it's weakening as labor trends mirror past recessions
▼ + stars: | 2024-04-10 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

Read previewToday's job market looks to be on solid footing, but there are subtle signs that hiring is starting to weaken, upping the odds that a recession strikes. The job market is already flashing key signs of weakness, and a hiring slowdown could be around the corner, Wall Street strategists have warned. Here are four signs the stellar US job market may be about to stumble:Advertisement1. But job-cut announcements rose to 257,254 over the first quarter, according to the career transitioning firm Challenger, Gray & Christmas. The risk of a coming recession could rise if the job market continues to slow, some forecasters have warned.

Persons: —, David Rosenberg, Rosenberg, Gary Shilling, it's Organizations: Service, Street, Business, Bureau of Labor Statistics, Challenger, National Federation of Independent Business, CNBC

☆ Consumer prices rose 3.5% from a year ago in March, more than expected
▼ + stars: | 2024-04-10 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Tom Williams | Cq-roll Call, Inc. | Getty ImagesThe consumer price index accelerated at a faster than expected pace in March, pushing inflation higher and likely keeping the Federal Reserve on hold with interest rates. Shelter and energy costs drove the increase on the all-items index. Food prices increased just 0.1% on the month and were up 2.2% on a year-over-year basis. The measure for meat, fish, poultry and eggs climbed 0.9%, pushed by a 4.6% jump in egg prices. Elsewhere, used vehicle prices declined 1.1% and medical care services prices rose 0.6%.

Persons: Tom Williams, Dow Jones Organizations: Washington , D.C, Cq, Inc, Getty, Federal Reserve, Labor Department's Bureau of Labor Statistics, CPI Locations: Washington ,

☆ Inflation came in hotter than expected in March
▼ + stars: | 2024-04-10 | by ( Madison Hoff | ) www.businessinsider.com time to read: +2 min

March's year-over-year increase was forecasted to be a higher rate than February's rate. The forecast for March's year-over-year increase in the CPI was 3.4%, a higher rate than the 3.2% increase or the 3.1% increase in February or January respectively. The rate came in above the forecast and was higher than February's year-over-year change. CPI increased 0.4% in March from the preceding month — same as the 0.4% surge in February. AdvertisementAverage hourly earnings increased 4.1% year over year to $34.69 an hour in March, which fell short of the 4.3% year-over-year increase in February.

Persons: —, That's, Julia Pollak, Pollak Organizations: Consumer, Service, Bureau of Labor Statistics, Business Locations: March's, That's

☆ Remote work has been a mixed bag for women when it comes to pay. But it's helped some men be 'overemployed' and make six figures.
▼ + stars: | 2024-04-10 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

But a lot of women haven't been able to take advantage of this remote work perk. Remote work has helped women's progress toward equal pay, but it's had a mixed impact on women's career advancement. On the one hand, remote work has allowed more women to stay in the workforce when they otherwise might forced out due to childcare demands. Women's relationship with remote work both helps and hurtsWomen are working at near-record levels, and the growth of remote work in recent years is among the key reasons. AdvertisementMen and women work from home at very similar rates, but there's some evidence that remote work is even more prevalent among women.

Persons: —, haven't, it's, jugging, jugglers, Aaron Terrazas, Nicholas Bloom, Sarah Small, Small, Nicole, Stanford's Bloom, Meredith Whitney, Utah's Organizations: Service, Business, Stanford, University of Utah, of Labor Statistics, WomenTech Network, Labor Department, Bard College Locations: Washington, overemployment

☆ Cramer says hot CPI data may not reflect the reality of inflation, citing recent trends in key categories
▼ + stars: | 2024-04-10 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer questioned whether the hotter-than-expected consumer price index data accurately represents the state of inflation, saying Wall Street's wave of Wednesday selling could have been a mistake. "These headline CPI numbers do not reflect reality as I see it." The Bureau of Labor Statistics CPI is a key inflation metric — a broad measure of the cost of goods and services across the economy. Cramer first pointed to the 0.9% month-over-month increase in the price of meat, poultry, fish and eggs, with the latter alone climbing 4.6%. "I'm not talking about the absolute numbers, I'm talking about the trendlines, because the trendlines suggest that selling in response to this report may have been and could be a mistake."

Persons: CNBC's Jim Cramer, Dow Jones, Cramer Organizations: Labor Statistics CPI, Cal, Maine Foods, U.S Locations: Texas

Mortgage rates are expected to drop this year, but so far they've remained near two-decade highs. Based on the current economic outlook, mortgage rates should go down in 2024. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's interest rates will affect your monthly payments. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates inched up to 6.06% last week, according to Freddie Mac data.

Persons: Freddie Mac, you'll, it's Organizations: of Labor Statistics, Federal Reserve, Fed, Zillow Locations: Chevron

☆ Every month, economists expect the labor market to slow. Will it ever?
▼ + stars: | 2024-04-09 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +3 min

New York CNN —Almost every month, economists expect the hot US labor market to start showing signs of exhaustion. The booming labor market has to run out of gas eventually, right? Enjoy it while it lastsHistorically speaking, there’s only so long a really good labor market can last until, for instance, a recession or tighter financial conditions disrupt it. Taken together, that could mean the life expectancy of the current labor market isn’t very long. One big reason why the labor market continues to defy expectations is the result of a surge in immigration over the past year.

Persons: February’s, Jefferies, Thomas Simons “, ” “, Simons, Will Baltrus, That’s, ” Dante DeAntonio Organizations: New, New York CNN, Conference, Labor, Bureau of Labor Statistics, Brookings, Moody’s Locations: New York

☆ A lawyer got fit in his 70s after prioritizing work over health for years. Three simple changes to his diet helped him set a swimming record at age 84.
▼ + stars: | 2024-04-08 | by ( Serafina Kenny | ) www.businessinsider.com time to read: +6 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementMichael C. Donaldson, 84, is an entertainment lawyer by day — and a record-setting under-ice swimmer by night. And now I eat red meat very rarely. Red meat is high in saturated fats, which can increase the "bad" LDL cholesterol in the blood and can lead to cardiovascular disease. According to the Cleveland Clinic, red meat shouldn't be eaten more than once or twice a week, and choosing white meat or vegetarian options is generally healthier.

Persons: Michael C, Donaldson, —, wasn't, Markus Rogan, Rogan, — Donaldson, it's, I've, he's, centenarians, Michael, It's, wouldn't Organizations: Service, Austrian Olympic, US Bureau of Labor Statistics, Centers for Disease Control, World Health, International Agency for Research, Cancer, Cleveland Clinic Locations: Los Angeles, Austrian, Austria, Okinawa, Japan, Costa Rica

☆ Why some people feel good about their bank accounts but bad about the economy
▼ + stars: | 2024-04-07 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

A recent Wall Street Journal poll of American voters in swing states found that while people think the national economy is in bad shape, they feel good about their personal finances. In Gallup polling from last April, just 16% rated the economy as “good” or “excellent,” but 45% said their personal finances were “good” or “excellent.”But according to available data the economy has improved. But the dichotomy between how people feel about their own finances and the economy at large presents a different conundrum. It’s important to look at consumer behavior and not just sentiment when determining how Americans feel about the economy, said Harris. Those behaviors signal that Americans, overall, actually feel pretty good about their economy.

Persons: New York CNN — Nathan Frederiksen, “, ”, ” Frederiksen, It’s, “ We’ve, I’ve, ” He’s, —, Wisconsin —, Joe Biden, Ben Harris, else’s, ” Harris, Harris, Jonathon Barricklow, Barricklow, we’d, Dave Koloskee, he’ll, Megan McCoy, we’re, ” McCoy, Julie Levitch, Suze Orman, she’s, I’m, ’ ”, ‘, they’re Organizations: New, New York CNN, CNN, Gallup, Economic, Brookings, Bureau of Labor Statistics, Facebook, Kansas State University, “, Finance, LinkedIn Locations: New York, Boise , Idaho, Arizona, Georgia, Michigan, North Carolina , Nevada , Pennsylvania, Wisconsin, it’s, United States, Bowling Green , Ohio, East, Europe, Erie , Pennsylvania, Scottsdale , Arizona

☆ Hungry at 3 am? You’re out of luck now
▼ + stars: | 2024-04-06 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +6 min

Not even all of 24 Hour Fitness’ gyms — the promise is right in its name — are 24 hours. The city that never sleeps, New York, has lost 13% of its 24-hour restaurants. Around half of IHOP’s 1,800 locations are back to being open 24 hours on Friday and Saturday, at the very least. Ed Endicott/Alamy Stock Photo/FilePete’s was open 24 hours, seven days a week from the 1990s until the pandemic hit in 2020. Despite the signage, Mi Tierra is no longer open 24 hours in San Antonio, Texas.

Persons: hasn’t, Waffle, ”, Alex Barakos, Ed Endicott, Pete’s, Barakos, “, Hudson Riehle, Edward Hopper’s, Harold, Kumar Go, Stephen Zagor, Pete Cortez, Michael Silver Geo, “ There’s, ” Cortez, ’ ” Cortez Organizations: New, New York CNN, Walmart, Hollywood, Alamy, Bureau of Labor Statistics, “, National Restaurant Association, Edward Hopper’s Nighthawks, Columbia Business School, of Locations: New York, Covid, Los Angeles, Chicago, Denver, Philadelphia, White, ”, New York City, San Antonio, Mi, San Antonio , Texas, Tierra, tuxedos

☆ 10 U.S. states where Americans earn the lowest incomes—only 2 aren't in the South
▼ + stars: | 2024-04-06 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +1 min

Throughout the U.S., workers earn a median annual wage of about $48,080, according to the latest available data from the Bureau of Labor Statistics. But in the three states where workers earn the least, the median annual wage sits below $40,000 a year. Check out the map below to see the median wage in every U.S. state. Mississippi has the lowest-earning population in the U.S. with a median annual wage of just $37,500, according to the BLS. These are the 10 states with the lowest median annual wages.

Persons: Louis, Louis Fed Organizations: Bureau of Labor Statistics, BLS, Louis Fed, Mississippi, CNBC Locations: . Mississippi, U.S, Mississippi, Massachusetts

☆ A renowned market bear who called the dot-com bubble warns the AI and economic recovery narratives fueling stocks are weak as analyst optimism sours — and says the Fed is fueling a bubble as valuation
▼ + stars: | 2024-04-06 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

About 45% of changes to S&P 500 analysts' earnings estimates are upgrades, as shown in the chart below, down from 50% in early 2023. AdvertisementSociete GeneraleHistorically, analyst optimism has been a good indicator for the economy's direction. Below is the S&P 500's year-over-year percentage change along with the analyst optimism measure. He says the S&P 500 is in a bubble fueled by AI optimism and could fall as much as around 60%. He sees potential downside of 39% for the S&P 500.

Persons: —, Albert Edwards, Edwards, Powell's, Ed Yardeni, Let's, There's, Jeremy Grantham, David Rosenberg, Merrill Lynch Organizations: Service, Societe Generale, Business, Street, Nasdaq, Generale, Conference, Institute for Supply, subsiding, Fed, repo, Bureau of Labor Statistics, Bears, Rosenberg Research, policymaking

☆ 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

☆ Job growth zoomed in March as payrolls jumped by 303,000 and unemployment dropped to 3.8%
▼ + stars: | 2024-04-05 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Job creation in March easily topped expectations in a sign of continued acceleration for what has been a bustling and resilient labor market. The unemployment rate edged lower to 3.8%, as expected, even though the labor force participation rate moved higher to 62.7%, a gain of 0.2 percentage point from February. "This report and the February report showed some broadening in terms of job creation, which is a very good sign." Stocks have tumbled this week amid concerns that a strong labor market and resilient economy could keep the central bank on hold for longer than expected. Correction: The unemployment rate edged lower to 3.8%.

Persons: Nonfarm, Dow Jones, Lauren Goodwin, Jerome Powell Organizations: Dow, Labor Department's Bureau of Labor Statistics, Wall, Retail, New York Life Investments, Federal Reserve, Stock

☆ Airline pilots at Delta, American, and United can make more than $500K a year — here's how their pay compares
▼ + stars: | 2024-04-05 | by ( Taylor Rains | ) www.businessinsider.com time to read: +7 min

Three major airlines, American, Delta, and United, offer similar captain base pay of up to $447 an hour. AdvertisementCommercial-airline pilots have become some of the highest-paid workers in the US thanks to a suite of post-pandemic pay raises. These pilots earn hundreds of dollars for every hour of flight time, with pay increasing with every year of seniority. These hours pay the same rate and have guaranteed minimums of 70 to 75 hours, depending on the airline, according to the Air Line Pilots Association. Related storiesHere's a breakdown of the base pay pilots at American, Delta, and United earn per hour of payable time, according to contracts sent to Business Insider from the airline or its union.

Persons: —, Tim Boyle, ALPA, Nicolas Economou Organizations: United, Service, American Airlines, Delta Air Lines, United Airlines, Bureau of Labor Statistics, Delta, Airbus, Boeing, Veterans, American, Airline, Getty, Air Line Pilots Association, Business, Delta Air Lines Delta Airlines Airbus, United Airlines Boeing Locations: Europe, Americas, South Africa, Japan, Australia

☆ New Questions on How a Key Agency Shared Inflation Data
▼ + stars: | 2024-04-05 | by ( Ben Casselman | Jeanna Smialek | ) www.nytimes.com time to read: +1 min

The Bureau of Labor Statistics shared more information about inflation with Wall Street “super users” than previously disclosed, emails from the agency show. The revelation is likely to prompt further scrutiny of the way the government shares economic data at a time when such information keenly interests investors. An economist at the agency set off a firestorm in February when he sent an email to a group of data users explaining how a methodological tweak could have contributed to an unexpected jump in housing costs in the Consumer Price Index the previous month. The email, addressed to “Super Users,” circulated rapidly around Wall Street, where every detail of inflation data can affect the bond market. And they suggest that there was a list of super users, contrary to the agency’s denials.

Persons: ”, — Organizations: Labor Statistics, of Labor Statistics Locations: Wall

☆ Airline pilots at Delta, American, and United can make more than $500k a year — here's how their pay compares
▼ + stars: | 2024-04-05 | by ( Taylor Rains | ) www.businessinsider.com time to read: +7 min

Recent pay raises have made commercial airline pilots some of the highest-paid workers in the US. The 3 major airlines, American, Delta, and United, all offer similar base pay for captains of up to $447 per hour. AdvertisementCommercial airline pilots have become some of the highest-paid workers in the US thanks to a suite of post-pandemic pay raises. Airline pilots at Delta and United have gotten heft profit-sharing in recent years. These hours pay the same rate and have guaranteed minimums of 70-75 hours, depending on the airline, according to the Air Line Pilots Association.

Persons: —, Tim Boyle, ALPA, Nicolas Economou, widebodies, Boeing narrowbodies Organizations: Service, American Airlines, Delta Air Lines, United Airlines, Bureau of Labor Statistics, Delta, Airbus, Boeing, Veterans, American, United, Airline, Getty, Air Line Pilots Association, BI, Delta Air Lines Delta Airlines Airbus, United Airlines Boeing Locations: Europe, Americas, South Africa, Japan, Australia, widebodies

☆ Here's where the jobs are for March 2024 — in one chart
▼ + stars: | 2024-04-05 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Health care and social assistance were the top sector for job gains — a common theme in recent years — adding 81,300 jobs. The U.S. labor market surprised economists with its strength once again, adding more than 300,000 jobs in March, with a few key sectors continuing to fuel its growth. Within health care, ambulatory services and hospitals combined to add 55,000 jobs, according to the Bureau of Labor Statistics. The Bureau of Labor Statistics noted that the labor force participation has changed little in the past year despite consistent upside surprises for job gains. It's been the key to rebalancing the labor market.

Persons: It's, we've, Stephanie Kelton Organizations: Bureau of Labor Statistics ., BLS, Labor Statistics, Brook University Locations: U.S

☆ Premarket stocks: The rally is sputtering. Earnings season could revive it
▼ + stars: | 2024-04-05 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

Investors are hoping the upcoming earnings season will help bring back this year’s banner rally. The first-quarter earnings season could get the stock rally chugging along again, some investors say. Earnings season kicks off next week with quarterly updates from Delta Air Lines, Citigroup, BlackRock, JPMorgan Chase and Wells Fargo. For the millions of recent Latino immigrants in the US, construction jobs have low barriers to entry and the openings are plentiful. The crackdown comes as its rival Netflix has attributed a jump in signups from its recent crackdown on password sharing.

Persons: Stocks, FactSet, ”, Matthew Stith, Wells, Yung, Yu Ma, Francis Scott Key, Ramishah Maruf, Gloria Pazmino, We’re, It’s, Reinaldo Quintero, “, ” Read, Samantha Murphy Kelly, Bob Iger, hasn’t, Read Organizations: CNN Business, Bell, New York CNN, Investors, Bartlett Wealth Management, Delta Air Lines, Citigroup, JPMorgan Chase, BMO Wealth Management, Bureau of Labor Statistics, CNN, Disney, CNBC, Netflix Locations: New York, BlackRock, Wells Fargo, Baltimore, America, signups

☆ March jobs report comes in hot: The US economy added 303,000 positions last month
▼ + stars: | 2024-04-05 | by ( Alicia Wallace | ) edition.cnn.com time to read: +8 min

Instead, on Friday, yet another jobs report defied expectations. “Today’s jobs report raises the possibility that rather than slowing down, job growth might be holding steady,” Nick Bunker, Indeed Hiring Lab’s economic research director for North America, said in a statement. Last month’s job growth was driven by industries such as health care (+72,300 jobs); government (+71,000 jobs); leisure and hospitality (+49,000 jobs); and construction (+39,000 jobs). President Joe Biden touted March’s jobs report Friday. With today’s report of 303,000 new jobs in March, we have passed the milestone of 15 million jobs created since I took office.

Persons: Nick Bunker, Joe Biden, “, ” Biden, —, Greg Daco, ”, ” Daco, we’ve, Erica Groshen, ” Brett House, Daco, Price Organizations: New, New York CNN, of Labor Statistics, Federal Reserve, North, ”, CNN Business, Cornell University, CNN, Brookings Institution, Congressional, Columbia Business School, Fed, Labor Locations: New York, North America, EY, United States

☆ Amazon-backed humanoid firm Agility Robotics laid off a 'small number' of staff
▼ + stars: | 2024-04-04 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Agility Robotics said it laid off a "small number" of employees on Wednesday. The company told Business Insider that the job cuts affected a "small number" of employees. Amazon is testing its Agility's Digit robots in a research and development facility near Seattle. AdvertisementAn electrical engineer at the humanoid robotics firm shared in posts on LinkedIn and X that he was "one of the many laid off" at the company. AdvertisementJohnson previously told BI that it will churn out "hundreds" of its Digit robots in 2025 and then "ramp up capacity to thousands" in the years that follow.

Persons: —, Lisa Haugh, Crunchbase, it's, Peggy Johnson, Johnson, It's Organizations: Robotics, Service, Business, Industrial Innovation, LinkedIn, Bureau of Labor Statistics Locations: Oregon, Seattle

☆ What to expect from the March jobs report
▼ + stars: | 2024-04-04 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +8 min

ET, when the Bureau of Labor Statistics releases its March jobs report. February brought the unemployment rate within spitting distance of 4%, rising to 3.9% from 3.7% in January. What could come from Friday’s jobs reportFebruary’s jobs report came as yet another surprise to economists. For instance, last month January’s job gains were revised down to 229,000 from the blowout 353,000 that kicked off 2024. The unemployment rate went up by half a percentage point from the post-pandemic low of 3.4% last April.

Persons: lockdowns, it’s, Michael Strain, ’, February’s, Andy Challenger, ”, Allison Joyce, Aaron Sojourner, they’ve, Sojourner, Luke Sharrett Organizations: New, New York CNN, Bureau of Labor Statistics, American Enterprise Institute, BLS, Federal, US, Challenger, “, Department of Labor, Bloomberg, . Upjohn Institute, Employment Research, CNN, Federal Reserve, Getty Locations: New York, outplacement

☆ Latino immigrant workers died on the Baltimore bridge. More will likely rebuild it
▼ + stars: | 2024-04-04 | by ( Ramishah Maruf | Gloria Pazmino | ) edition.cnn.com time to read: +12 min

More than two-thirds of Hispanic construction workers in America are foreign born. Working without a safety netFor the workers paid to rebuild the bridge, the job will be grueling — and dangerous. CNNWork-related deaths among foreign-born Hispanic or Latino workers rose to their highest level in 2021, according to the most recent Bureau of Labor Statistics data. Fourteen percent of all work-related fatalities in 2021 were foreign-born Hispanic or Latino workers, and most of them worked in construction. The agency’s reports also “consistently show” that Latino and/or immigrant workers are less likely to report employer health and safety violations.

Persons: Francis Scott Key, We’re, It’s, Reinaldo Quintero, “, Carlos Hernández, Miguel Luna, Yassir Suazo Sandoval, Jose Mynor Lopez, Dorlian Castillo Cabrera, ”, Saket Soni, Alejandro Hernandez Fuentes, Soni, ” Quintero, ’ ”, Sean McGarvey, Ligia Guallpa, Quintero, Hurricane Michael, Reinaldo Quintero “, ” Guallpa, Guallpa, Hurricane, Dave Einsel, ” Soni, Ron DeSantis ’, Fort Organizations: New, New York CNN, Bureau of Labor Statistics, CNN, Key, CNN Construction, Resilience Force, Force, of Labor Statistics, New York Committee, Occupational Safety, Health, York, New York State Department of Labor, Workers, North, Unions, Worker’s, Hurricane, Panama City, Safety, Health Administration, Historic New, New York Times, Gov Locations: New York, America, Louisiana, Hurricane, Florida, Mexico, Guatemala, El Salvador, Honduras, United States, New York City, North America’s, Canada, Venezuela, Panama, Baltimore, New Orleans, Texas, North Carolina, Historic New Orleans, Fort Meyers

☆ 10 U.S. states where everyday Americans earn the most money—No. 1 isn't New York or California
▼ + stars: | 2024-04-04 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +1 min

If you had to guess where America's highest earners live, you might imagine the booming metropolis of New York City or the tech-heavy cities that make up Silicon Valley. Workers in the District of Columbia have a higher annual median wage at $84,450, but Massachusetts is the highest-earning state. A number of reasons help workers in Massachusetts earn higher salaries. Top colleges like Harvard University and Massachusetts Institute of Technology, which historically churn out high earners, may also drive Massachusetts' median wages up. Check out the map below to see the median wage in every U.S. state.

Organizations: Bureau of Labor Statistics . Workers, District of Columbia, Harvard University and Massachusetts Institute of Technology Locations: New York City, Massachusetts, District

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