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☆ When interest-rate cuts will hit credit cards, car loans, and mortgages
▼ + stars: | 2024-09-18 | by ( Ayelet Sheffey | Madison Hoff | ) www.businessinsider.com time to read: +6 min

Read previewThe nation's central bank has finally cut interest rates for the first time in over four years. AdvertisementStill, Hamrick said within a day of the Fed's rate cuts, banks will likely adjust their prime lending rates, which will be noticed in credit-card rates "immediately." The Fed rate cuts indirectly affect mortgages, which are generally based on other interest rates that are loosely tied to the Fed funds rate. And when it comes to businesses, rate cuts will have a positive impact on their operations, making it cheaper to take out loans. Are you planning to make any big purchases now that the Fed has cut interest rates?

Persons: —, Mark Hamrick, Erica Groshen, Michele Raneri, Raneri, Hamrick, Elizabeth Renter, Renter Organizations: Service, Federal, Market Committee, Democratic, Fed, Business, Cornell University, Bureau of Labor Statistics, Consumer Financial, TransUnion, asheffey

☆ Why these three states are the most consistent tipping point in American politics
▼ + stars: | 2024-09-17 | by ( Ronald Brownstein | ) edition.cnn.com time to read: +21 min

Trump won the presidency in 2016 by stunning Democrat Hillary Clinton to win all three states by a combined margin of about 80,000 votes. But, as in other states, Democrats have been concerned about the risk of depressed turnout and some gains for Trump among Black voters in Philadelphia. Eight years later, the two states split again, when Roosevelt comfortably won Pennsylvania and Michigan narrowly went to Republican Wendell Willkie. This trio of states has arguably become the most consistent tipping point in American politics. In the nine elections since 1920 when they split their vote, the candidate who carried two of these three states won seven times.

Persons: Kamala Harris, Donald Trump –, Trump, Hillary Clinton, Joe Biden, Harris, Bob Shrum, Shrum, Tad Devine, “, Biden, PRRI, William Frey, Tim Marema, don’t, Mason, Dixon, Barack Obama, Tony Evers, Gretchen Whitmer, Josh Shapiro, Republican Sen, Ron Johnson, Dane County, Ben Wikler, Pete Giangreco, ”, You’ve, That’s, Gene Ulm, Roe, Wade, Whitmer, Branden Snyder, It’s, Clinton, Dante Chinni, White, ” Chinni, they’ve, They’ve, Republican pollster Patrick Ruffini, Ruffini, “ I’m, ” Ruffini, Geoff Garin, Michael Dukakis, Republican George H.W, Republican George H.W . Bush, James Buchanan, John C, Franklin D, Roosevelt, Herbert Hoover, Republican Wendell Willkie, Gerald Ford, Jimmy Carter, Theodore Roosevelt’s, Al Gore, John Kerry, Republican Thomas Dewey, Hubert Humphrey, Garin Organizations: CNN, White House, Democratic, Michigan, Wisconsin, AdImpact, Trump, Center, University of Southern, “, Republicans, Survey, Blacks, of Labor Statistics, Public Religion Research, Whites, GOP, Brookings Metro, for Rural, doesn’t, Keystone State, Republican, Center for Rural, Democrats, Biden, Black, White, Wisconsin , Michigan Democrats, Detroit, Electoral, American Communities Project, …, Democrat, Pennsylvania, Republican Party Locations: Michigan, Wisconsin, Pennsylvania, Georgia, North Carolina , Arizona, Nevada, Flint , Michigan, University of Southern California, California , New York, Illinois, Texas, Florida, Ohio, . Michigan, Wisconsin’s, Milwaukee, Philadelphia, Detroit, Waukesha, Ozaukee, Washington, Madison, Dane, Dane County, Eau Claire, Appleton, La Crosse, Outagamie, Winnebago, Green Bay, Green, Chicago, Scranton, Wilkes, Barre, ” Michigan, “ Michigan, Gaza, Wisconsin , Michigan, United States, “ Pennsylvania, Ulm, Pittsburgh, Butler , Pennsylvania, Republican George H.W ., Fremont, North Carolina, Michigan , Pennsylvania, “

☆ Get ready for stocks to embark on a weekslong rally after the Fed cuts rates, Fundstrat's Tom Lee says
▼ + stars: | 2024-09-16 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Stocks are set to climb higher for at least the next few weeks, according to Fundstrat's Tom Lee. Lee pointed to the Fed's policy meeting, with markets expecting a rate cut on Wednesday. A Fed rate cut will be bullish for stocks, regardless of its size, he told CNBC. AdvertisementWall Street has been anticipating rate cuts for months, especially as the economy has shown some weakness stemming from tighter financial conditions. However, stocks should move higher regardless of the size of the rate cut, Lee said, so long as central bankers assure markets that more cuts are coming.

Persons: Tom Lee, Lee, —, Powell Organizations: CNBC, Service, Bureau of Labor, New York Fed

☆ Gen Z and millennials are propping up the economy — with help from their parents, 'Oracle of Wall Street' says
▼ + stars: | 2024-09-16 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAccording to a Harris poll from September 2023, about 45% of adults aged 18 to 29 were still living with their parents. However, the "Oracle of Wall Street" economist — so known for correctly predicting the 2008 crisis — did not foresee a recession, given that stronger cohorts would continue to power the economy. Aside from Gen Z and millennial consumers, top-earners are also helping keep the US economy afloat, Whitney noted. Those raking in over $150,000 are still active in the economy, though buying has shifted toward essentials over discretionary products.

Persons: —, Meredith Whitney —, Harris, Whitney, McDonald's, Gen Z Organizations: Service, Financial Times, Business, Whitney, US Bureau of Labor Statistics, Dollar

☆ More Gen Zers are ditching college, and they want better guidance on how to succeed without it
▼ + stars: | 2024-09-15 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +9 min

Despite not having a high school diploma or college degree, he started multiple successful businesses that allowed him to financially support his family. During her senior year of high school, Wakeham was struggling to decide on her post-graduation route. US Census Bureau data found the enrollment rate of high school graduates at 61.4% in October 2023 was slightly down from 62% in 2022. Indeed, even as some Gen Zers don't think college is the best path for them, recent data has shown that college continues to provide long-lasting benefits when it comes to careers and earnings. Some high schools have shifted to place a greater emphasis on alternative routes since the pandemic.

Persons: LeLaina Wakeham, Wakeham, didn't, Zers, Zach Hyrnowski, Hyrnowski, we've, Hrynowski, that's, Hannah Maruyama, Maruyama, Jared Polis, — she's Organizations: Service, Business, Gallup, Walton Family Foundation, Colorado Gov, Bureau of Labor Statistics, Reinventing Public Education, roundtables Locations: Mexico, New England

☆ Why people are souring on one of the country's hottest housing markets
▼ + stars: | 2024-09-14 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +8 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementThe exodus is mainly being driven by higher housing costs, a higher cost of living, and souring attitudes toward the influx of people who moved to Florida in recent years. Property insurance costs in the state are rising at the fastest pace in 20 years, according to Capital Economics. According to Cindy, her home insurance costs around $8,000 a year. The cost of living has also risen, in part due to rising housing costs and more people living in the city.

Persons: —, who's, Cindy, isn't, Rafael Corrales, Corrales, Kevin, hadn't, it's, Bill McBride, McBride, That's, It's, Darryl Fairweather, Redfin, Fairweather Organizations: Service, Business, Tampa —, Capital Economics, Bureau of Labor Statistics, Washington DC, Florida Department of Law, Sunshine State Locations: Florida, Sunshine, Tampa, Orlando, Jacksonville, South Florida, Miami, St, Pete, Seattle, New York, Fort Lauderdale, Palm Beach, Petersburg, Clearwater, Florida's

☆ CNBC Daily Open: With all key data in, the Fed's policy path looks more uncertain
▼ + stars: | 2024-09-13 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Hotter-than-expected core, againThe U.S. producer price index, which measures the prices producers receive before retailers sell goods and services to consumers, rose 0.2% in August, according to the Bureau of Labor Statistics. However, like the consumer price index, core PPI came in 10 basis points higher than expected. But investors are ignoring two big risks to the market, said a chief investment officer of a wealth management firm.

Persons: Hong, Dow Jones, Sheila Kahyaoglu, Safra Catz, Bond Organizations: CNBC, Nasdaq, Dow Jones Industrial, Nikkei, U.S ., Bureau of Labor Statistics, PPI, Boeing, Jefferies, Oracle, Amazon, Google, Microsoft Locations: Asia, Pacific, U.S, Seattle, Oregon

☆ Wholesale inflation slowed again last month
▼ + stars: | 2024-09-12 | by ( Alicia Wallace | ) edition.cnn.com time to read: +1 min

CNN —US producer prices continued to cool overall in August, showing that inflation across the economy is improving. But a closely watched measure of underlying inflation remained stubbornly elevated, reflecting the bumpiness in reining in price hikes. August’s monthly increase was driven by a 0.4% gain on the services side, as goods prices were unchanged, thanks in part to falling energy prices. Economists had expected that prices would increase 0.2% on a monthly basis and 1.8% annually, according to FactSet estimates. Excluding the more volatile categories of food and energy, core PPI advanced 0.3% from July, countering a 0.2% decline seen the month before.

Persons: Price Organizations: CNN, of Labor Statistics, PPI, Federal Reserve Locations: US, reining

☆ Wholesale prices rose 0.2% in August, in line with expectations
▼ + stars: | 2024-09-12 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Wholesale prices rose in August about in line with expectations, the final inflation data point as the Federal Reserve gets set to lower interest rates. The core increase was the same when excluding trade services. On a 12-month basis, headline PPI rose 1.7%. On the PPI measure, services prices pushed much of the gain, with a 0.4% monthly increase driven by a rise in services less trade, transportation and warehousing. The release comes a day after the BLS reported that consumer prices rose 0.2% on the month in line with expectations.

Persons: Dow Jones Organizations: Federal Reserve, of Labor Statistics, PPI, Labor Department, BLS

☆ CNBC Daily Open: Looking past sticky core inflation
▼ + stars: | 2024-09-12 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Spencer Platt | Getty Images News | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The S&P 500 climbed 1.07%, the Dow Jones Industrial Average added 0.31% and the Nasdaq Composite shot up 2.17%. Core inflation, to which the Fed pays more attention because it more accurately reflects price movements, came in a bit higher than expected for the month. Core inflation was higher than the headline number because food and energy prices are stripped out from the former.

Persons: Spencer Platt, –, Jeff Cox, Pia Singh, Lisa Kailai Han Organizations: Getty, CNBC, Dow Jones, Nasdaq, Fed, of Labor Statistics, Nvidia, Reuters, U.S . House Locations: Brooklyn, New York City, U.S, Saudi Arabia

Mortgage rates have dropped nearly 20 basis points this week, with 30-year rates now near 5.7%, according to Zillow data. 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. Current 30-Year Mortgage RatesAverage 30-year mortgage rates have inched down this week and are now hovering near 5.7%, according to Zillow data. Mortgage rates are determined by a variety of different factors, including larger economic trends, Federal Reserve policy, your state's current mortgage rates, the type of loan you're getting, and your personal financial profile. Because markets are already anticipating that the Fed will lower rates, mortgage rates might not drop much in response to a Fed rate cut.

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

Social Security recipients can expect next year's annual cost-of-living adjustment (COLA) to be the lowest since 2021, following cooler inflation readings in July and August. The Social Security Administration is expected to announce the official cost-of-living adjustment for 2025 on Oct. 10. Much of the political debate about Social Security remains focused on reforming — and ultimately paring back — the entire program. But earlier this year, Democratic Sen. Bob Casey of Pennsylvania introduced the Boosting Benefits and COLAs for Seniors Act, designed to increase Social Security benefits at a rate "that actually reflects the costs seniors face." "The Boosting Benefits and COLAs for Seniors Act would help seniors contend with rising costs and ensure that Social Security remains a lifeline for all who need it.”

Persons: ” Mary Johnson, Johnson, Democratic Sen, Bob Casey of, ” Casey, ” Organizations: of Labor Statistics, Social, Senior Citizens League, Social Security, Medicare, Trustees, Social Security Administration, League, Democratic, Seniors, Bureau of Labor Statistics, , Social Security, Security Locations: Bob Casey of Pennsylvania, Pennsylvania

☆ Harris-Trump debate highlights and Hurricane Francine approaches Louisiana: Morning Rundown
▼ + stars: | 2024-09-11 | by ( Elizabeth Robinson | Elizabeth Robinson Is A Newsletter Editor For Nbc News | Based In Los Angeles. | ) www.nbcnews.com time to read: +7 min

And while Trump tried to tie Harris to President Joe Biden, he learned that she is a much tougher rival. While Trump tried to re-create the conditions of June’s fateful debate stage matchup, Harris reminded him, “You’re not running against Joe Biden. Harris tried to get under Trump’s skin, baiting him into a defensive posture that prevented him from attacking her weaknesses. And when Trump scolded Harris’ attempt to interrupt him, some allies lamented that he lost control at a key moment. Three Republican sources told NBC News after the debate that Trump came off as “angry” in that moment.

Persons: Kamala Harris, Donald Trump’s, Francine churns, Harris, Donald Trump, Trump, Joe Biden, “ You’re, You’re, ” Harris, Harris ’, ” Trump, Louisiana Hurricane Francine, Joe Wilson of, ”, Republican Kelly Ayotte, Joyce Craig, Mauricio Pochettino, Dave Grohl, Hill, Jesse Dittmar, James Earl Jones ’, Darth Vader, Jones, Char Adams, — Joy Y, Wang, Dermatologists, Elizabeth Robinson Organizations: Trump, Republican, NBC News, Federal, Labor Statistics, Louisiana Hurricane, Public, Novo Nordisk, Foo Fighters, Police, Miami Dolphins, NBC Locations: Louisiana, Ohio, New Orleans, Mississippi, Novo, semaglutide, Wegovy, Joe Wilson of South Carolina, Washington, ” New Hampshire, Ukraine, Russia

The pace of inflation likely moderated again in August — further relief for beleaguered consumers still smarting from pandemic-era price shocks. Though price growth has largely returned to the Federal Reserve's official 2% target, the sting of rapid price increases over the past four years lingers for many consumers. The latest inflation report is likely to cement a 0.25% cut in the Federal Reserve's key interest rate, currently at about 5.3%, later this month. But experts say it will take some time for consumers to feel the impact of the lower interest rate — and the relatively small size of the cut means borrowing costs will still be somewhat elevated. While the Fed is now widely expected to cut interest rates, a cut of just 0.25% may not be enough to stave off that scenario.

Persons: —, There's, Joe Biden, Kamala Harris, Zillow, Paul, ” Marina Walsh, ” Walsh, Torsten Slok, Slok, Sophia Kearney, Jerome Powell's, Kearney, Lederman Organizations: of Labor Statistics, Federal Reserve's, Democratic, Labor Statistics, Princeton, “, Mortgage Bankers Association, Apollo Global Management, FHN, NBC News, Fed Locations: U.S, New York, Los Angeles, Minneapolis, St, Las Vegas, Phoenix

☆ Consumer prices rose 0.2% in August as annual inflation rate hits lowest since early 2021
▼ + stars: | 2024-09-11 | by ( Jeff Cox | ) www.cnbc.com time to read: 1 min

Prices increased as expected in August while the annual inflation rate declined to its lowest level since February 2021, according to a Labor Department report Wednesday that sets the stage for an expected quarter percentage point rate cut from the Federal Reserve in a week. The consumer price index, a broad measure of goods and services costs across the U.S. economy, increased 0.2% for the month, in line with the Dow Jones consensus, the Bureau of Labor Statistics reported. That put the 12-month inflation rate at 2.5%, down 0.4 percentage point from the July level and compared to the estimate for 2.6%.

Persons: Dow Jones Organizations: Labor Department, Federal Reserve, of Labor Statistics Locations: U.S

☆ The inflation report dashes hopes of a jumbo rate cut next week
▼ + stars: | 2024-09-11 | by ( Madison Hoff | ) www.businessinsider.com time to read: +2 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. The consumer price index, published by the Bureau of Labor Statistics, increased 2.5% over the year from August 2023 to this past August, matching the forecast of 2.5% and below July's 2.9% rate. The new data will factor into the Federal Open Market Committee's interest-rate decision next week, with the hot core figure decreasing the odds of a jumbo 50-basis-point cut. Softening but still relatively strong labor market data will also weigh on the Fed's decision. "If that test is met, a reduction in our policy rate could be on the table as soon as the next meeting in September."

Persons: —, Jerome Powell, Powell Organizations: Service, Bureau of Labor Statistics, Business, Federal

☆ Consumer inflation slows to lowest rate since February 2021
▼ + stars: | 2024-09-11 | by ( Alicia Wallace | ) edition.cnn.com time to read: +1 min

On a monthly basis, prices rose 0.2%, unchanged from July. Economists were expecting the annual rate would slow significantly last month to 2.6% annually, according to FactSet. Falling gas prices helped bring overall inflation lower in August, dropping by 0.6% for the month and 10.3% annually. Grocery prices held flat for the month, and overall food inflation was up 0.1% in August and 2.1% annually. On an annual basis, it’s up 5.2% and accounts for more than 70% of the annual increase in core CPI.

Persons: briskly Organizations: CNN, Federal Reserve, of Labor Statistics, BLS Locations: That’s

☆ Here's why the stock market is throwing a tantrum about new inflation data
▼ + stars: | 2024-09-11 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Core inflation rose unexpectedly, dashing hopes for a bigger rate cut from the Fed. US indexes slumped on Wednesday, with the Dow dropping as much as 600 basis points in the early morning as traders took a mixed-bag of inflation data. That's the lowest headline inflation rate recorded since early 2021. On the other hand, cutting interest rates by just 25 basis points means higher for longer interest rates. "Today's inflation data cemented in a 25 basis point cut next week 50 basis points in out the window," she added.

Persons: —, Julian Howard, Gina Bolvin, Preston Caldwell, Chris Zacarelli Organizations: Fed, Traders, Service, Dow, of Labor Statistics, GAM Investments, Bolvin Wealth Management, Labor Department, Morningstar, Independent

☆ The 2 dates that could sink Kamala Harris' campaign — outside of tonight's debate
▼ + stars: | 2024-09-10 | by ( William Edwards | ) www.businessinsider.com time to read: +1 min

Upcoming jobs reports on October 4 and November 1 could impact the election outcome. A poor payrolls print for September or October could hurt Kamala Harris' campaign. Go to newsletter preferences Thanks for signing up! AdvertisementTonight's presidential debate between Vice President Kamala Harris and former President Donald Trump could prove to be a pivotal moment in the tight race for the White House. Those are the days when the Bureau of Labor Statistics will release the jobs reports for September and October.

Persons: Kamala Harris, —, Donald Trump, Joe Biden Organizations: Labor, Fed, Service, White, Trump, Bureau of Labor Statistics, Business

☆ Another typically boring part of the stock market is making exciting moves
▼ + stars: | 2024-09-10 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

While many investors have been distracted by the recent drop in leading technology shares, a traditionally overlooked part of the market is seeing a major boom: consumer staples. The S & P 500 consumer staples sector hit a record on Monday, putting it more than 8% higher over the past three months. On Friday, the Bureau of Labor Statistics said 142,000 jobs were created in August, well below the 161,000 expected by economists. Against this backdrop, we used the CNBC Pro Stock Screener tool to find consumer staple stocks that could outperform going forward. Kroger is expected to gain more than 12% going forward, based on analysts consensus price targets.

Persons: It's, Kroger, Bernstein, Douglas Harned Organizations: Tech, of Labor Statistics, CNBC, Stock, Kroger, Constellation Brands, Bunge Global, Modelo, Bunge, GE Aerospace, GE Locations: U.S

☆ Two key inflation reports this week will help decide the size of the Fed's interest rate cut
▼ + stars: | 2024-09-10 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

The Federal Reserve gets its last look this week at inflation readings before it will determine the size of a widely expected interest rate cut soon. On Wednesday, the Labor Department's Bureau of Labor Statistics will release its consumer price index report for August. With the issue virtually settled over whether the Fed is going to cut rates when it wraps up the next policy meeting Sept. 18, the only question is by how much. "Inflation data has taken a backseat to labor market data in terms of influence on Fed policy," Citigroup economist Veronica Clark said in a note. "But with markets — and likely Fed officials themselves – split on the appropriate size of the first rate cut on September 18, August CPI data could remain an important factor in the upcoming decision."

Persons: Veronica Clark, Dow Organizations: Federal Reserve, Labor Department's Bureau of Labor Statistics, BLS, CPI, Citigroup, Fed, PPI

☆ Fact check: Donald Trump, Kamala Harris debate on ABC News
▼ + stars: | 2024-09-10 | by ( Cnn Staff | ) edition.cnn.com time to read: +18 min

CNN —Former President Donald Trump and Vice President Kamala Harris are facing off for the first time Tuesday during ABC’s presidential debate. “I had no inflation, virtually no inflation,” Trump said. Harris introduced herself by name and said, “Let’s have a good debate.” Trump responded: “Nice to see you. Have fun.” Saul Loeb/AFP/Getty Images Trump and Harris stand on stage at the start of the debate. “But understand if Donald Trump were to be elected, he will sign a national abortion ban.

Persons: Donald Trump, Kamala Harris, Harris, Donald Trump’s, Trump, Katie Lobosco, MAGA, “, ” Trump, Daniel Dale, Tami Luhby, Chip Somodevilla, he’s, FactCheck.org, Steven Cheung, Cheung, Kaanita Iyer Trump, Joe Biden, ”, gotaways, Michelle Mittelstadt, Piper Hudspeth Blackburn, David Muir, Linsey Davis, Michael Le Brecht, Alex Brandon, Doug Mills, Pat Tuttle, George Walker IV, Saul Loeb, Tristen Rouse, CNN Harris, Win McNamee, Sheena Carey, Morry Gash, Matthew Hatcher, ” Saul Loeb, Roberto Schmidt, Andrew Thomas, Robert F, Kennedy Jr, Kennedy, Jim Lo Scalzo, Anthony Scaramucci, Olivia Troye, Matt Rourke, Hannah Beier, Lilly, Evelyn Hockstein, Matt Slocum, Kenny Holston, ” Harris, Noah Weinrich, Kaanita Iyer, Feedback Trump, John Roberts, Devan Cole Trump, Sen, JD Vance, ” Vance, Michael Williams Trump, United States –, Katie Lobosco Harris, –, Mike Pence, Rather, “ Joe Biden, Ella Nilsen Trump, Elisabeth Buchwald Organizations: CNN, Trump, Center for American Progress, Fund, CAP, Peterson Institute for International Economics, Center, CNN Trump, Breitbart News, Border Patrol, Biden, Patrol, Republicans, Migration, Institute, ABC News Trump, National Constitution Center, New York Times, Bloomberg, Getty Images, Getty, Pennsylvania Convention Center, People, Philadelphia International Airport, AFP, Philadelphia City Hall, Former Trump, Reuters, ABC, Force, Democratic, Convention, Leadership, Heritage, United States Supreme, White, City, Springfield News, Sun, Springfield Police, United States, US International Trade Commission, Treasury, Consumer, Bureau of Labor Statistics Locations: Pennsylvania, Philadelphia, United Kingdom, Venezuela, United States, Nashville , Tennessee, Washington ,, Washington , DC, Milwaukee, AFP, Springfield , Ohio, “, Springfield, City, China, American

☆ Calling in sick is now a lot more complicated
▼ + stars: | 2024-09-08 | by ( Polly Thompson | ) www.businessinsider.com time to read: +6 min

But despite their industrious reputation, predominantly white-collar Americans who do receive paid time off are taking more sick leave than ever before. AdvertisementBut HR professionals told Business Insider there's another major shift affecting attitudes toward sick leave: the arrival of Gen Z in the office. He said he believed that Gen Z workers' expectations may seem unorthodox because the differences between Gen Z and millennials are starker than generational differences in the past. Pressure to keep workingIn the UK, where legislation has entitled all workers to sick pay since 1983, the issue of sick leave isn't as pertinent. How to treat a sick employeeThough some data suggests US workers are taking more sick days, they're hardly becoming slackers.

Persons: —, Gen Z, Rue Dooley, Xer, Dooley, Z, Xavier Lorenzo, Getty, Gen, Cary Cooper, Cooper, that's, they're Organizations: Service, US Bureau of Labor Statistics, Business, Society for Human Resource Management, Chartered Institute, Personnel, University of Manchester, Pew Locations: Europe, California

☆ Yellen says U.S. economy remains solid, on path to 'soft landing' with no meaningful layoffs
▼ + stars: | 2024-09-07 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

U.S. Secretary of the Treasury Janet Yellen speaks listens to a presentation during a tour at the IRS Processing Facility on September 06, 2024 in Austin, Texas. Treasury Secretary Janet Yellen sought to reassure the public on Saturday that the U.S. economy remains strong, despite a string of weak job reports that have rattled investors and weighed on the stock market. "We're seeing less frenzy in terms of hiring and job openings, but we're not seeing meaningful layoffs," Yellen said at the Texas Tribune Festival in Austin. Yellen said the U.S. is on that path: "It really has been amazing to be able to get inflation down as meaningfully as we have. This is what most people would call the soft landing," she said.

Persons: Janet Yellen, Yellen, Nonfarm, Dow Jones Organizations: IRS, Texas Tribune, of Labor Statistics, Dow, Federal Reserve Locations: Austin , Texas, U.S, Austin

According to the Bureau of Labor Statistics, the share of Americans who were absent from work because of child care difficulties matched the all-time record for August. At the same time, employment in child care services has not been nearly enough to match the demand, according to Julia Pollak, chief economist at ZipRecruiter, who highlighted the statistic in a note following Friday’s job report. The issue largely stems from the havoc created by the pandemic, which prompted many child care facilities to shut down, Pollak said. Consumer payments for child care are up at least 32% since 2019, a recent Bank of America study found. Child care advocates say that almost 10% of the state’s day care sites or home-based programs have shuttered since the pandemic.

Persons: Donald Trump, Sen, JD Vance, Vance, Kamala Harris, Julia Pollak, Natalia Lebedinskaia, ” Pollak, Pollak, “, ”, Trump, Ohio, Charlie Kirk, he’d, Harris, ” Vance, Tim Walz, Hannah Anderson, Kirk, Vance “, ” Anderson Organizations: Bureau of Labor Statistics, GOP, Child Care, NBC News, of America, BLS, Economic, of New, Minnesota Gov, Economic Policy Institute Locations: Ohio, of New York, United States, Georgia

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