DIRS.INFO The most relevant business & tech news

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."

☆ The unemployment rate is at its lowest since 1969
▼ + stars: | 2023-02-03 | by ( Juliana Kaplan | Andy Kiersz | ) www.businessinsider.com time to read: +3 min

The US added over half a million jobs and unemployment fell in January, according to the Bureau of Labor Statistics. The unemployment rate is now at its lowest since 1969, easing fears of a potential downturn. Indeed, hiring was booming so much that the unemployment rate fell to 3.4%. That's the lowest rate since 1969. That's right: The US hasn't seen an unemployment rate this low since the moon landing.

☆ An Apple a day could keep the layoffs away
▼ + stars: | 2023-01-23 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +5 min

For many tech workers, however, this Lunar New Year was tainted with layoff anxiety. Apple is the only Big Tech company that hasn't conducted sweeping layoffs recently. Apple has long been a lone wolf among its Big Tech peers. The chart above shows how more tech workers were laid off in January 2023 than during the first half of 2022 combined. Read four of the memos in full here, from Google Chrome, Google Cloud, Google UK, and its Europe, the Middle East, and Africa offices.

☆ Companies raising prices to get ahead of skyrocketing costs was one of the biggest drivers of surging inflation, a new study shows
▼ + stars: | 2023-01-18 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +5 min

Over the past two years, soaring inflation has hit Americans in their wallets. Some pointed to soaring inflation as a byproduct of corporate greed, as firms took advantage of the economic environment to rake in record profits. Even across industries that had "very different relative demand and inflation rates" throughout 2021, markup growth remained pretty much the same. Throughout 2021, companies saw their profits soar, pocketing their highest margins since December 1950. They added that "this suggests that the source of high markup growth in recent years was not a steady increase in monopoly power."

☆ First-time homebuyers are pretty much screwed in 2023
▼ + stars: | 2023-01-12 | by ( Alcynna Lloyd | Andy Kiersz | ) www.businessinsider.com time to read: +4 min

Starter homes are typically more affordable houses that are purchased by new home buyers. Their absence has made it difficult for many first-time buyers to afford homeownership. The stark indicator only illustrates that starter homes are vanishing from the US real-estate market. Starter homes are typically smaller, more affordable houses that are purchased by first-time buyers or those on a tight budget. With higher home prices, mortgage rates and property taxes, as well as a possible recession looming in 2023 — that could trigger mass job losses — the odds are stacked against many would-be first-time buyers.

No one won the last Mega Millions drawing, sending its jackpot soaring to $1.35 billion. It's the second-largest prize in Mega Millions history. The Mega Millions jackpot is estimated at $1.35 billion, the second-highest Mega Millions top prize ever recorded. The next drawing for the jackpot is scheduled for Friday, January 13, according to the Mega Millions website. Still, some research suggests that lottery winners do tend to end up happier than others.

☆ The US is heading for a 'swamp' recession which could mire the economy in a disappointing and slow recovery
▼ + stars: | 2022-12-10 | by ( Madison Hoff | ) www.businessinsider.com time to read: +8 min

Kelly told Insider the recovery may be considered "tepid" given it will be a "mild improvement in things." David Kelly, chief global strategist for JPMorgan Asset Management, called it a "'swamp' recession" in a note, suggesting the "economy would likely struggle to get out of" what is potentially a mild recession. It's like standing on the edge of a swamp," Kelly told Insider. "The problem this time around is two-fold," Kelly told Insider. In short, Kelly told Insider that a modest recovery from a shallow recession could be viewed as "tepid" as it will be a "mild improvement in things."

☆ 36 high-paying jobs for people who don't like stress
▼ + stars: | 2022-11-26 | by ( Madison Hoff | ) www.businessinsider.com time to read: +1 min

One of the characteristics measured is stress tolerance, which O*NET describes as jobs requiring "accepting criticism and dealing calmly and effectively with high-stress situations." 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. The above jobs were ranked from most to least stressful. In the case of a tied stress tolerance score, we ranked by average annual wages.

The number of working Americans aged 80 or over — such President Joe Biden — has risen from 1980. As seen in the above chart, 5.16% of Americans aged 80 and over had a job in 2022 as of October. Although the share of Americans age 80 and over with a job has tumbled some from it's high in 2018 per Insider's analysis, there are still plenty of older workers working past typical retirement age. And that's evidenced by poverty rates among older Americans standing higher than a decade ago as of 2021. However, not all older Americans want to keep working as they get older and will exit the labor force.

☆ Elon Musk has used Twitter once per hour on average since buying the company
▼ + stars: | 2022-11-18 | by ( Travis Clark | Andy Kiersz | ) www.businessinsider.com time to read: +4 min

Musk has tweeted, retweeted, or replied on average once per hour since buying Twitter. The chart below shows that his total Twitter actions since the acquisition appear to exceed his total actions in the weeks before. Musk tweeted 65 times from October 6 through October 26; 105 times from October 27 through November 16. Overall: In total, he made 316 total Twitter actions in the three weeks before the purchase; 502 total actions since. His total replies since the purchase even exceeded his total Twitter actions from before.

☆ Democrats could defuse the GOP's biggest fiscal threat next year by raising the debt ceiling to a ludicrously high number
▼ + stars: | 2022-11-16 | by ( Andy Kiersz | ) www.businessinsider.com time to read: +4 min

The US is currently set to hit the federal debt ceiling once again next year. Historically, raising the debt ceiling was a fairly uncontroversial move taken by Congress every couple years as needed. Before the midterms, Republicans were already suggesting that they would use the upcoming debt ceiling fight to push for spending cuts, according to the Washington Post. They could repeal the debt ceiling outright, although that is unlikely given Biden and other prominent Democrats like Sen. Bernie Sanders have ruled that out. If one wanted to be patriotic, the new debt ceiling could be $7.41776, commemorating the date of the signing of the Declaration of Independence.

☆ Amazon founder Jeff Bezos pledged to donate the majority of his wealth to charity. Here's how he currently spends his $122 billion fortune, from giant underground clocks to space exploration.
▼ + stars: | 2022-11-16 | by ( Hannah Towey | Katie Canales | ) www.businessinsider.com time to read: +1 min

Jeff Bezos has amassed a $122 billion fortune since founding Amazon in 1994, per Bloomberg. Bezos stepped down as Amazon CEO in mid-2021 after seeing a pandemic-era surge in wealth. He recently announced plans to donate the majority of his fortune to various charities. Billionaire Amazon founder Jeff Bezos has become one of the wealthiest and most recognizable figures in the tech world. In November, Bezos announced plans to donate the majority of his fortune to charity, a commitment he had until recently shied away from.

☆ Here's how the Fed's rate hike can move markets and whether to expect a central bank pivot
▼ + stars: | 2022-11-02 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

That bank thinks the Fed is going to skirt any talk of a pivot, and opt for continued rate hikes albeit at a slower pace. Goldman Sachs listed three reasons the Fed will carry on with rate hikes:US inflation will remain "sticky" so a pivot won't be justified. Keeping rate hikes going until March 2023 will set up the central bank for a future pivot. US stock futures rise early Wednesday, as eyes turn toward the Fed's rate hike decision later today. Here's what you want to know about the 1920 rule that's still moving markets more than a century later.

☆ How the warehouse boom devoured America's workforce
▼ + stars: | 2022-10-19 | by ( Aki Ito | ) www.businessinsider.com time to read: +12 min

It all happened so fast, we never got a chance to ask the most fundamental question: Is the sudden and dramatic shift to warehouse work a good thing? Has the explosion in warehouse jobs, taken as a whole, left us better off than before? As my colleague Katherine Long outlines in her story about musculoskeletal disorders, warehouse work is dangerous. "Warehouse workers," he says, "are the assembly-line workers of contemporary capitalism." That experience has given him hope that warehouse jobs, like their assembly-line predecessors, could wind up being a source of both personal pride and economic advancement.

☆ There's renewed hope in the possibility that global central banks are nearing the end of their rate hike cycle. Here's how that's driving markets.
▼ + stars: | 2022-10-05 | by ( Hallam Bullock | ) www.businessinsider.com time to read: +6 min

Central bank moves and softer economic data have investors hoping that the Fed and other central banks are almost done hiking interest rates. There's some renewed hope for a Fed pivot on the horizon. Australia's central bank surprised forecasters by raising interest rates by a less-than-expected 25 basis points, becoming the first central bank to abandon its path of jumbo rate hikes. Fewer job openings mean employers aren't compelled to offer more competitive wages. Number of job openings Chart: Andy Kiersz and Madison Hoff Source: Bureau of Labor Statistics via FRED10.

☆ The US tops the world with more than 140,000 ultra-rich citizens worth more than $50 million, after adding another 30,000 to the rolls in 2021
▼ + stars: | 2022-09-23 | by ( Lakshmi Varanasi | Andy Kiersz | ) www.businessinsider.com time to read: +3 min

The US has the highest number of individuals with worth more than $50 million, according to a new global wealth report. The US is also home to the majority of people with more than $100 million in wealth. Credit Suisse's report found that over the past two years, the number of "ultra high net worth individuals" — those with more than $50 million in assets — in the world has grown by 50%. China, which ranks second for the number of ultra high net worth individuals, only claims 12% of the world's share. As of 2021, the top 1% controls more than 35% of the country's wealth, the report noted.

☆ Here's how economies around the world are reacting to China's economic slowdown.
▼ + stars: | 2022-09-19 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

China's growth slowdown is sending ripples across the world, though the repercussions are varied based on where you look. This morning, I'm breaking down what you want to know about how the world's second biggest economy moves the world's currency and commodity markets. Beijing is navigating a slew of headwinds, including COVID-19 lockdowns and issues across property and labor markets, according to Bank of America. Meanwhile, China's slowdown has less impact in Europe because the continent's focus remains on the energy crunch and Russia, analysts noted. US stock futures, cryptocurrencies, and oil prices fell early Monday, as investors brace for the Fed, Bank of Japan, and Bank of England's rate decisions this week.

☆ Get ready to pay more for makeup as inflation hits the cosmetics aisle
▼ + stars: | 2022-09-17 | by ( Lakshmi Varanasi | Andy Kiersz | ) www.businessinsider.com time to read: +3 min

Cosmetics prices rose by 2.3% between July to August 2022, according to market research firm NPD Group. Changes in cosmetics prices over the past five years based on data from the consumer price index via U.S. Bureau of Labor Statistics. Andy KierszMaria Salcedo, senior vice president of merchandising for national beauty chain Ulta, said demand for cosmetics remains strong, despite price hikes. "Consumers continue to adjust to inflation pressures by spending thoughtfully on what's valuable and important to them, including beauty," Salcedo told Insider by email. During the recession of 2001, Leonard Lauder, heir of makeup mogul Estee Lauder, is said to have coined the term "Lipstick Index."

☆ Can you — or should you — buy a house right now? Take our quiz to find out if rising rates and soaring prices will squeeze you out of your dream home.
▼ + stars: | 2022-06-29 | by ( Kelsey Neubauer | Andy Kiersz | Kazi Awal | ) www.businessinsider.com time to read: +3 min

Rising mortgage rates, scant inventory, and soaring home prices are hard for house-hunting hopefuls. Take our quiz to find out if you're financially prepared to buy a house, even in this tough market. In 2020 and 2021, record-low mortgage rates and newfound work-from-home flexibility turbocharged demand for housing, resulting in astronomical price increases and seemingly endless bidding wars. Then see whether prevailing personal-finance advice recommends that you buy — and what your monthly mortgage payments would look like if you do. Zillow provides real-time mortgage rates.

Roughly half of those fatally shot by police are white, but Black Americans are fatally shot at a disproportionate rate compared to their representation in the US population. As of December 5, 3,582 white people had been fatally shot since 2015 at a rate of 2.4 per million, whereas 1,892 Black people were fatally shot at a rate of 6 per million per year. The database also comes with a number of other qualifiers — namely, that it tracks only fatal police shootings, not fatal police encounters in general. For instance, the database includes Omar Mateen, the mass shooter who killed 49 people in an Orlando nightclub in 2016 before police fatally shot him. But even when narrowing the data down to fatal police shootings of unarmed people, it shows a similar story as the aggregate data.

Our experts answer readers' investing questions and write unbiased product reviews (here's how we assess investing products). Everyone knows retirement is expensive, but how much money do you really need to save? The calculation to figure out how much money you need to retire is [Your desired retirement income] ÷ 4%. That's your magic retirement number, and you can call it quits as soon as your account balances hit it. Take a look at the chart below to see how much you need to save to fund retirement income ranging from $40,000 a year to $250,000 a year.

Persons: Andy Kiersz Organizations: Service, Business Locations: Wall, Silicon

Nearly half of Gen Xers say they're living paycheck to paycheck, and only 53% have an emergency fund. Pew Research Center defines Gen X as Americans aged 39 to 54 in 2019, accounting for one-third of the overall workforce. 1 stressor, Gen Xers on the whole fall short when it comes to savings, according to the MetLife survey, and it's contributing to their unhappiness at work. What's more, 48% of Gen Xers said they're living paycheck to paycheck. Interestingly, Gen X placed equal emphasis on retirement and homeownership being their top priorities, followed by being debt-free.

Nearly 80% of American parents financially support their adult children, according to a 2018 Merrill Lynch survey. A 2018 Merrill Lynch survey revealed that 79% of US parents provide financial support to their adult children, contributing to $500 billion spent annually. According to the Merrill Lynch survey, parents today are largely helping out with food and groceries, cell phone bills, and car expenses. Many parents surveyed would make various financial sacrifices for their adult children. When it comes to homebuying, 26% of parents told Merrill Lynch they would help their child with a down payment.

Search resuls for: "Andy Kiersz"

23 mentions found