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Search resuls for: "” Lorna Sabbia"


2 mentions found


☆ First on CNN: Two out of three workers say prices are still rising faster than wages, new survey shows
  + stars: | 2023-09-25 | by ( Matt Egan | ) edition.cnn.com   time to read: +4 min
Sixty-seven percent of employees say the cost of living is outpacing growth in their salary and wages, according to a Bank of America survey shared exclusively with CNN on Monday. High inflation is a major reason why just 42% of employees say they feel financially well, according to the Bank of America survey. Likewise, 64% of employees say they are stressed about their finances. 23% of women losing sleep over moneyJust 38% of women say they feel financially well, according to the Bank of America survey. While 61% of Asian employees say they feel financially well, just 44% of White employees, 40% of Hispanic and 35% of Black said the same.
Persons: That’s, “, ” Lorna Sabbia, Joe Biden, Biden, ”, Black, Sabbia, ” Sabbia Organizations: New, New York CNN, Bank of America, CNN, Bureau of Labor Statistics, of Labor Statistics, Bidenomics The Bank of America, ABC News, Washington Post, ABC, “ Companies Locations: New York
☆ Americans are pulling money out of their 401(k) plans at an alarming rate
  + stars: | 2023-08-08 | by ( Alicia Wallace | ) edition.cnn.com   time to read: +2 min
Minneapolis CNN —More Americans are tapping their 401(k) accounts because of financial distress, according to Bank of America data released Tuesday. It’s a “pretty troubling” development if more people are resorting to making hardship withdrawals, Matt Schulz, chief credit analyst at LendingTree, told CNN. Since 2019, household debt balances have increased by nearly $3 trillion, according to New York Federal Reserve data through the first quarter of 2023. Separately on Tuesday, the New York Fed reported that US households’ credit card debt surpassed the $1 trillion mark for the first time ever. The $45 billion increase in credit card debt helped to drive overall household debt levels to $17.06 trillion at the end of the second quarter.
Persons: It’s, Matt Schulz, “, ”, Lorna Sabbia Organizations: Minneapolis CNN —, Bank of America, Bank of, CNN, Bank of America’s, New York Federal, New York Fed Locations: Minneapolis
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