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☆ 5 in-demand jobs that can pay over $100,000 and don't require a bachelor's degree
▼ + stars: | 2024-11-21 | by ( Morgan Smith | ) www.cnbc.com time to read: +1 min

If you're looking for a career that pays well, doesn't require a bachelor's degree and offers strong job security, you might want to consider a job in the skilled trades. Close to a third (35%) of the fastest-growing jobs in the U.S. are in the skilled trades, with more than 1.5 million new jobs expected between now and 2032, according to the latest numbers from the Bureau of Labor Statistics. "As people continue to search for higher-paying jobs with low barriers to entry, blue-collar jobs have had a resurgence in interest — especially among Gen Z," he added. Though many blue-collar jobs don't require a four-year degree, most roles require certifications, licensing and, in some cases, extensive on-the-job training. Here are five in-demand jobs in the skilled trades that pay over $100,000 and don't require a bachelor's degree, according to data from Resume Genius and the Bureau of Labor Statistics:

Persons: Nathan Soto, Gen Organizations: McKinsey & Co, Labor, Bureau of Labor Statistics, CNBC Locations: U.S

☆ Why American Women Are Staying Single, Swearing Off Marriage, Dating
▼ + stars: | 2024-11-21 | by ( Kelli María Korducki | ) www.businessinsider.com time to read: +12 min

Now, unmarried women are no longer part of an edgy cultural vanguard — they're the official status quo. As of 2021, a record 52% of American women were either unmarried or separated, according to a report by Wells Fargo Economics. Single women also have single men outnumbered: A Census Bureau analysis of 2019 data found that for every 90 unmarried men in the US, there were 100 unmarried women. In a 2019 survey from the Pew Research Center, only 38% of single women reported looking for dates or a relationship, compared with 61% of single men. Even before 1970, it was far from unusual to see American women working for a living.

Persons: Rebecca Traister, Samantha Nation, JD Vance, —, Claudia Goldin, Jess Carbino, Tinder, Gary Becker, Elizabeth Crofoot, Carmindy Bowyer, Bowyer, didn't, truer, Stephanie Manes, Katie Roiphe, Singledom, Paul Dolan, Richard Reeves, Nicholas Eberstadt, Bella DePaulo, DePaulo Organizations: Los Angeles Times, Wells, Wells Fargo Economics, Pew Research Center, of Labor Statistics, Census, Pew, American Enterprise Institute's, Social Locations: Wells Fargo, New York City

☆ Who will build new homes in Trump’s America?
▼ + stars: | 2024-11-19 | by ( Samantha Delouya | Julia Vargas Jones | ) edition.cnn.com time to read: +9 min

Trump has said that undocumented immigrants share the blame for America’s once-in-a-generation home affordability crisis, but the president-elect’s deportation plans may backfire, driving up the cost of homebuying even further. There is a need for more construction workers, as well: There were 282,000 construction jobs open as of September, according to the Bureau of Labor Statistics. “Immigrant labor is really important for our ability to continue to build homes affordably,” said Tobin. More than one-third of construction workers in the labor force are foreign-born, according to the US Census Bureau’s 2023 American Community Survey. In some states, that share is much higher: In California, New Jersey and Texas, more than half of construction workers are immigrants.

Persons: CNN — Duewight Garcia overstayed, Garcia, ” Garcia, Donald Trump’s, Trump, America’s, Riordan Frost, Frost, ” Frost, Jim Tobin, ”, Tobin, “, Duewight Garcia, Edward Pinto, ” Pinto, Stan Marek, MAREK, it’s, ” Marek, Trump’s, Ohio Sen, JD Vance, ” Vance, Marek, they’re, Jennie Murray, ” CNN’s Tami Luhby Organizations: CNN, New, Joint Center for Housing Studies of Harvard University, National Association of Home Builders, Bureau of Labor Statistics, Pew Research, Survey, American, National Immigration Forum, Trump, Housing Center, American Enterprise Institute, Labor, The New York Times, National Immigration Locations: Honduras, New York City, America, California , New Jersey, Texas, New York, California, Wells Fargo, Houston

☆ 'My life is a million times better': A man who quit his desk job to be an electrician shares his takeaways from the switch
▼ + stars: | 2024-11-17 | by ( Christine Ji | ) www.businessinsider.com time to read: +6 min

Snyder shares his top 4 takeaways after making the switch from a white to blue collar job. If your Sunday evenings are tainted by the thought of clocking into work the next morning, you're not alone. Snyder, now 43 years old, has been an electrician for the last six years, and he's never looked back. Advertisement"As a union electrician, my life is a million times better," he said. If he's on the hunt for a new job, Snyder doesn't have to apply individually and interview — the union helps facilitate matching available jobs to union members looking for work.

Persons: Dustin Snyder, Snyder, he's, it's, who's, Snyder doesn't, I'm, Christine, cji Organizations: Bureau of Labor Statistics, AFL, Brotherhood of Electrical Workers Locations: Seattle

☆ 4 signs of re-inflation investors should watch out for, Charles Schwab says
▼ + stars: | 2024-11-17 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +7 min

AdvertisementInflation's downtrend may not be as straightforward as some investors think, according to Charles Schwab. Immigration reform could mean higher labor costs," the note added. Labor costs risingLabor costs have accelerated in recent months, with unit labor costs among all workers in the business sector rising to 3.4% year-over-year in the third quarter, according to Federal Reserve data. Markets are beginning to dial back expectations for further rate cuts in response to inflation concerns," Schwab strategists said. Charles Schwab, Citi Economic Surprise Index"Stronger growth suggests that the Fed may not lower short-term rates as much as anticipated just a few months ago.

Persons: Charles Schwab, Donald Trump, Trump, Schwab, It's Organizations: Trump, Bureau of Labor Statistics, Labor, Federal Reserve, Unit, Bloomberg, Treasury, Business, Citi

U.S. consumers collectively owe an eye-popping $1.17 trillion in credit card debt — a record — according to estimates the Federal Reserve Bank of New York released this week. But while there are still major financial risks for carrying hefty balances, the researchers said the data suggests that “rising debt burdens remain manageable” for the typical consumer. Prices are still going up, but they’re not going up as fast, and incomes are once again going up at a faster rate than expenses. Earnings growth has averaged 6.2% per year since the pandemic began, compared to the cumulative debt balance rising 4% per year. “Especially for higher-risk borrowers, credit card and auto loan delinquencies are the highest in a dozen years, and that’s with unemployment at 4%.

Persons: ’, Donald Trump, they’re, Greg McBride What’s, TransUnion, That’s, ”, Greg McBride, “, McBride Organizations: ’ paychecks, Federal Reserve Bank of New York, New York Fed, Commerce Department, Bureau of Labor Statistics, Bankrate Locations: ’ paychecks . U.S

☆ Car owners claimed a bear trashed their Rolls-Royce. Insurers say it was fraud involving a person in a bear suit.
▼ + stars: | 2024-11-15 | by ( Joshua Nelken-Zitser | ) www.businessinsider.com time to read: +3 min

The California Department of Insurance said the "bear" was actually a person in a costume. AdvertisementFour Californians said a bear damaged their luxury car, but insurers have accused them of insurance fraud involving someone dressed in a bear costume. However, CDI investigators determined that the "bear" in the footage was actually a person wearing a bear costume, the press release said. Insurance fraud is a major issue in the US. According to the Coalition Against Insurance Fraud, it costs the country over $300 billion annually.

Persons: —, — Ruben Tamrazian, Vahe Muradkhanyan, Alfiya Zuckerman —, Royce, Mark Friedlander, Friedlander Organizations: California Department of Insurance, Service, CDI, California Department of Fish, Wildlife, San Bernardino County, Coalition Against Insurance, Insurance Information Institute, Fox Business, US Bureau of Labor Statistics Locations: California, Los Angeles, Ararat Chirkinian, Lake Arrowhead , California, San Bernardino, California , New York, Florida

☆ Wholesale prices rose 0.2% in October, in line with expectations
▼ + stars: | 2024-11-14 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Wholesale prices nudged higher in October, though largely in line with expectations and mostly consistent with the Federal Reserve cutting interest rates again in December, the Bureau of Labor Statistics reported Thursday. On a 12-month basis, headline wholesale inflation was at 2.4%. Excluding food and energy, core PPI rose 0.3%, also one-tenth more than September and also matching expectations. Services rose 0.3% on the month, accounting for most of the PPI increase, and was driven largely by a 3.6% surge in portfolio management prices. Goods prices nudged higher by 0.1% after falling the previous two months.

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

☆ Wholesale inflation heated up again last month, reversing recent progress
▼ + stars: | 2024-11-14 | by ( Alicia Wallace | ) edition.cnn.com time to read: +5 min

CNN —US wholesale inflation picked up more than expected in October, indicating that some price pressures persist at the producer level. Still, one potential favorable sign for inflation-weary consumers: Wholesale food prices dropped 0.2% for the month. FactSet consensus forecasts called for a 0.2% monthly gain and for the annual rate to heat up to 2.3%. Economists projected a 0.2% monthly gain and a 3% annual rate. Thursday’s PPI trajectory mirrored that seen in the latest Consumer Price Index data released Wednesday.

Persons: Price, Eugenio Aleman, Raymond James ’, Thomas Simons, Jefferies, ” Simons, ” Oren Klachkin, Donald Trump’s, ”, Christopher Rupkey, Rupkey Organizations: CNN, of Labor Statistics, PPI, Federal Reserve, “, CPI, Nationwide

☆ Hollywood Is Leaving Los Angeles: Remote Work Comes to TV, Movies
▼ + stars: | 2024-11-14 | by ( Lucia Moses | ) www.businessinsider.com time to read: +14 min

AdvertisementLately, creative workers are increasingly chasing their Hollywood dreams in production hubs far from Hollywood. FilmLA, which issues permits for production in the region, found that Greater Los Angeles' share of US-produced TV and film projects declined from 23% in 2021 to 18% last year. Brin said Lexington had attracted 30 film and TV projects so far this year, representing more than $2 million in local spending. Actually being on a set is only one part of entertainment production. While the power of Los Angeles is dispersing, no single "new Hollywood" is coming to take its place.

Persons: Joe Gallegos Jr, he'd, Bailee Madison, Lukasiak, Pat Boone, Gallegos, JJ Abrams, HBO Max —, he's, It's, Patrick Adler, Taner Osman, couldn't, Tiffany FitzHenry, Lisa Brin, Brin, Noah Hawley, Maddy Bilder, Yorgos, Guy, Ryan Gosling, Emily Blunt, Tyler Mitchell, I've, Bilder, Adler, Otis, FitzHenry, hasn't, Keisha Perry, Cedric, I'm, She's, Lucia Moses Organizations: Netflix, HBO, of Labor Statistics, Westwood Economics, Planning Associates, Dallas, Miami, Hollywood, Bureau of Labor Statistics, Marvel, Otis, Creative, Lex Studios, Austin, Austin Film Society, Southwest, Sony, Universal Pictures, Ampere, Technology, ScreenIt, LA, Westwood, Gallegos, Business Insider's Media Locations: New Mexico, Los Angeles, Albuquerque, La La, Hollywood ., America, California, Atlanta, Hollywood, LA, Georgia, Kentucky, Lexington, New York, Ireland, Budapest, South Africa, Hungary, Australia, North America, Saudi Arabia, Miami

Price growth ticked higher in October as voters began casting ballots in a presidential election in which economic concerns played a big role. The consumer price index climbed to 2.6% last month since the same time last year, the Bureau of Labor Statistics reported Wednesday. Stock futures turned higher, while traders bid up the price of government bonds. All-important shelter costs rose 0.4% from September to October, accounting for over half the monthly gains, the BLS said. Over the past four years, consumer prices have cumulatively increased about 20%, with the costs of many other goods and services rising even faster.

Persons: That's, Joe Biden’s, ” Kathy Jones, Charles Schwab, ”, Donald Trump, Trump, Jerome Powell Organizations: of Labor Statistics, BLS, Charles, Charles Schwab Center, Financial Research, ” Voters, White House, Trump, Investors, Adobe, National Retail Federation, Peterson Institute for International Economics, Citi Locations: —

☆ Inflation hit a bump in October after slowing for six straight months
▼ + stars: | 2024-11-13 | by ( Alicia Wallace | ) edition.cnn.com time to read: +4 min

Housing-related inflation accounted for half of the monthly rise, and energy prices were flat after dragging down the overall index for four of the past six months. The Consumer Price Index measures price changes across commonly purchased goods and services. Still, October’s increase was to be expected, due to unfavorable comparisons from a year ago and stubborn housing-related inflation. Consensus estimates were for a 0.2% monthly increase and a 2.6% annual increase in the overall CPI, according to FactSet. A potential ‘inflation shock’ in the wingsAlthough the broader US economy survived the sharpest inflation run-up seen in a generation, Americans’ finances — and their sentiment — were far from unscathed.

Persons: “, ” Stephen Juneau, Donald Trump, Larry Summers, Kate Bolduan, Trump’s, Lindsay Rosner, Jerome Powell Organizations: CNN, Bureau of Labor Statistics ., Bank of America, BLS, —, Trump, Biden, CNN News Central, Federal Reserve, Goldman Sachs Asset Management Locations: Ukraine

☆ Americans’ debt is growing — but so are incomes
▼ + stars: | 2024-11-13 | by ( Alicia Wallace | ) edition.cnn.com time to read: +2 min

CNN —Americans are continuing to pile on debt at record levels — but for many households, those IOUs are completely manageable, according to new data released Wednesday. Balances grew across all major debt categories, with credit cards and auto loans continuing to see the biggest gains. However, by and large, most households have been able to handle that rising debt: Their after-tax income has grown even more, according to the New York Fed. Disposable personal income hit $21.8 trillion in the third quarter, bringing the total debt balance to income ratio to 82%. And, for 18 months running, that pay growth has outpaced inflation, according to Bureau of Labor Statistics data released Wednesday.

Persons: Delinquencies, “, ” “, ” Donghoon Lee, — Organizations: CNN, Federal Reserve Bank of New, New York Fed, of Labor Statistics

☆ Annual inflation rate hit 2.6% in October, meeting expectations
▼ + stars: | 2024-11-13 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

The core CPI accelerated 0.3% for the month and was at 3.3% annually, also meeting forecasts. The consumer price index , which measures costs across a spectrum of goods and services, increased 0.2% for the month. That took the 12-month inflation rate to 2.6%, up 0.2 percentage point from September. Inflation perked up in October though pretty much in line with Wall Street expectations, the Bureau of Labor Statistics reported Wednesday. Energy costs, which had been declining in recent months, were flat in October while the food index increased 0.2%.

Persons: Dow Jones, Trump, Ellen Zentner Organizations: Dow, of Labor Statistics, Stock, Federal Reserve, Energy, BLS, White, CPI, Morgan Stanley Wealth Management

☆ 3 new states passed paid sick leave for workers—here's where employees get the benefit
▼ + stars: | 2024-11-13 | by ( Jennifer Liu | ) www.cnbc.com time to read: +5 min

The U.S. is one of few developed nations without federal laws that provide workers paid time off, and just over a dozen states have their own laws to offer paid sick leave. But last week, Americans in more states – Alaska, Missouri and Nebraska – voted to pass new ballot measures that will bring paid sick leave requirements to their workplaces in 2025. Prior to the November election, 15 states and Washington, D.C., had their own paid sick leave laws, as do a number of cities and localities across the country. MarylandWorkers at businesses with 15 or more employees accrue one hour of paid sick leave for every 30 hours worked. Rhode IslandFull-time workers at businesses with 18 or more employees get up to 40 hours of paid sick leave per year.

Persons: Nebraska – Organizations: D.C, Bureau of Labor Statistics, Center for American, Arizona, California Workers, Colorado Workers, Connecticut Workers, Maryland Workers, Massachusetts Workers, Michigan Workers, Minnesota Workers, Nebraska, New Jersey Workers, New, New Mexico Workers, New York Workers, Workers, Oregon Workers, Vermont Workers, Washington Workers Locations: Alaska , Missouri, Nebraska, Washington, Alaska, California, Massachusetts, Missouri, New Mexico, Portland, Rhode

☆ Larry Summers sounds the alarm bell on inflation — before Trump even takes office
▼ + stars: | 2024-11-12 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

Now, with many celebrating the apparent defeat of inflation, Summers is delivering another warning to Washington. Summers, the famed economist and former Treasury secretary, cautioned Tuesday that the inflation genie may not be back in the bottle. “My own judgement is that the Fed and markets are still underestimating the overheating risk,” Summers said during a conversation hosted by the New York Economic Club. “I am fearful that the Fed is going to be more like once burned, twice burned, rather than once burned, twice shy, on inflationary risks,” Summers said. “There is a very substantial risk that the president will attempt to implement what he talked about.

Persons: Larry Summers, Donald Trump, Summers, Trump, “, ” Summers, Clinton, Biden, Jerome Powell, Powell, ” Powell, Donald Trump’s, ” Trump, ” Organizations: New, New York CNN, White, Federal Reserve, New York Economic, Reserve, Harvard, Bureau of Labor Statistics Locations: New York, Washington

☆ The small details in an interview that could cost you a job offer
▼ + stars: | 2024-11-10 | by ( Hannah Abraham | ) www.businessinsider.com time to read: +5 min

Career experts spoke to BI about the small details in an interview that could cost you a dream role. Some job seekers report applying to hundreds of jobs before landing an interview. AdvertisementJulia Toothacre and Jerry Lee at career consulting firm Wonsulting, spoke to Business Insider about the tiny details things that could cost you a job offer. Lee, who previously worked at Google, said he would usually smile at the receptionist and chat a little before every interview. "If you don't have anything, that is a signal to them that you're not necessarily taking the interview seriously."

Persons: —, Julia Toothacre, Jerry Lee, Wonsulting, Lee, Toothacre, she's, it's, I've Organizations: BI, Service, US Bureau of Labor Statistics, Google

☆ 3 high-paying roles in industries that keep adding jobs: 'You wouldn't think' they'd pay 6 figures, says expert
▼ + stars: | 2024-11-09 | by ( Gili Malinsky | ) www.cnbc.com time to read: +1 min

In September, there was one job opening per unemployed person, according to the Bureau of Labor Statistics. That's as compared to two jobs per unemployed person in March 2022. And the economy added just 12,000 jobs in October. Among the industries that have added the largest number of jobs in 2024 are food services, hospitality and government (leisure and hospitality did see a slight downtick in September). None are necessarily known for offering high-paying work, but even "those industries you wouldn't think" have six-figure jobs actually do, says John Mullinix, head of growth marketing at Ladders.

Persons: John Mullinix Organizations: Bureau of Labor Statistics Locations: That's

☆ This Texas city is the No. 1 college town in the U.S.—here are the top 10
▼ + stars: | 2024-11-08 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

Austin, the state capital of Texas, can add another title to its name: best college town in the U.S., according to a recent ranking by WalletHub. The city is home to a number of schools, including the University of Texas at Austin, which is one of the largest research universities in the U.S. and has a student population of over 51,000. The city itself is located in central Texas and home to nearly 980,000 people, with a median household income of $86,556, per the latest available U.S. Census data. To generate its list of best college towns, WalletHub used data from a number of sources, including the U.S. Census Bureau and the Bureau of Labor Statistics, to analyze 415 cities and towns of various sizes across America. Plus, the cities tend to come with a lower cost of living than larger cities like New York or Los Angeles.

☆ Is the 'vibecession' here to stay? Here's what experts say
▼ + stars: | 2024-11-07 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +3 min

While the Federal Reserve is still concerned about inflation, "we're seeing these signs of weakness in the labor market," Scanlon said. "This suggests that the labor market remains firm despite signs of weakening," J.P. Morgan noted. 'What the bond market is telling us'The stock market rallied after the presidential election results. That's what the bond market is telling us." Depending on what policies are enacted under Trump's second term, the inflation problem might get worse, experts say.

Persons: Brett House, Scanlon, There's, Mark Hamrick, J.P, Morgan, Hamrick, Trump Organizations: Columbia Business School, Bureau of Labor Statistics, Federal Reserve, of Labor Statistics, BLS, Dow Jones, Nasdaq, Treasury, Trump Locations: U.S, China

☆ America’s economy explains a lot about why Trump got reelected
▼ + stars: | 2024-11-06 | by ( David Goldman | ) edition.cnn.com time to read: +6 min

That explains a lot about why Trump was reelected. Why the US economy stings so muchHousing: America’s home prices have reached new record highs for 15 straight months. No, really, the US economy is greatStill, Trump will be inheriting a strong economy — on paper, anyway. But they’re still growing at a 3.9% adjusted rate, according to the Department of Labor. Consumer spending, which accounts for more than two-thirds of America’s economy, is surging, rising 3.7% last quarter, the highest rate of growth since the first quarter of 2023, according to the BEA.

Persons: Donald Trump’s, Trump, Joe Biden, Kamala Harris, they’re, Biden, Covid, That’s, Trump’s Organizations: CNN, Republican, US Department of Housing, Urban Development, Bank of America, Brookings Institution, White, Democratic, Democrat, Companies, Bureau of Labor Statistics, Gross, Economic, International Monetary Fund, Labor, BEA Locations: America

☆ Arizona businesses worry immigration proposal on ballot would exacerbate worker shortage
▼ + stars: | 2024-11-04 | by ( Emily Wilkins | ) www.cnbc.com time to read: +3 min

About 16.2% of Arizona's workforce is made up of immigrants, according to a 2022 study by the American Immigration Council. Meanwhile, the state is also facing a job shortage, 197,000 as of June, according to the Bureau of Labor Statistics. "We have several members that are in the construction industry that aren't able to find workers to complete projects," she said. Arizona Democratic Senate candidate U.S. Rep. Ruben Gallego speaks during a press conference about the Arizona-Mexico border at the Santa Cruz County Sheriff’s Department in Nogales, Arizona, March 18, 2024. Arizona Attorney General candidate Abe Hamadeh, Arizona Republican Senate candidate Blake Masters, Republican gubernatorial candidate Kari Lake and Secretary of State candidate Mark Finchem hold a press conference as they tour the Arizona-Mexico border area, Nov. 4, 2022.

Persons: Monica Villalobos, Ruben Gallego, Kari Lake, Sen, Kyrsten, Rebecca Noble, Michael Infanzon, Gallego, Abe Hamadeh, Blake Masters, Mark Finchem, Kevin Dietsch Organizations: PHOENIX, Senate, American Immigration, Bureau of Labor Statistics, Arizona Hispanic Chamber of Commerce, Democratic Rep, Arizona, Arizona Democratic, U.S . Rep, Santa Cruz County Sheriff’s Department, Reuters, Congress, Canyon State Business Alliance, CNBC, Patrol, Arizona Republican, Republican, Getty Locations: Arizona, Mexico, Santa Cruz County, Nogales , Arizona, Maryland, Virginia

☆ CNBC Daily Open: One day more to elections
▼ + stars: | 2024-11-04 | by ( Lim Hui Jie | ) 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. Markets shrug off weak jobs reportStocks rallied Friday to kick off November, led by Amazon and as traders shrugged off a disappointing jobs report. Harris gains ground in IowaIowa is not a state that many pollsters predicted will break for Democratic presidential candidate Kamala Harris. That, instead of the sitting president, could hold the key to how stocks perform going forward.

Persons: Blythe Andrews , Jr, Dow Jones, Stocks, shrugged, Warren Buffett, Harris, Kamala Harris, Donald Trump Organizations: Public, CNBC, U.S . Bureau of Labor Statistics, Boeing, Amazon, Dow Jones Industrial, Nasdaq, Berkshire, Bank of America, Democratic, Des Moines Register, Iowa Locations: Tampa , Florida, U.S, Berkshire, Omaha, Apple, Iowa Iowa, Iowa

In late-September reports, strategists at J.P. Morgan and Fitch Ratings had predicted two additional interest rate trims by the end of 2024 and expect such reductions to continue into 2025. The CME Group's FedWatch tool puts the probability of a 25-basis-point cut at this week's November meeting at 98%. The current probability of the benchmark rate being taken down by another 25 basis points at the December meeting is 78%. "The end of financial repression, of zero interest rates and zero inflation, that era is over. Interest rates will be higher, will be challenged around the world.

Persons: Brendan McDermid, Saudi Arabia —, aren't, Morgan, CNBC's Sara Eisen —, Goldman Sachs, Carlyle, Morgan Stanley, Jenny Johnson, Franklin Templeton, Larry Fink, " Fink, David Solomon, Ted Pick, Pick, Francis Fukuyama Organizations: New York Stock Exchange, Reuters, Wall, Federal Reserve, Fed, Fitch, Saudi, Future Investment Initiative, Standard Chartered, CNBC, U.S . Bureau of Labor Statistics Locations: Reuters RIYADH, Saudi Arabia, U.S, BlackRock

Former President Donald Trump's universal tariff proposals could cause prices to skyrocket on clothing, toys, furniture, household appliances, footwear and travel goods, according to a new report from the National Retail Federation. Trump has said he would impose a 10% or 20% tariff on all imports across the board. In both cases, the NRF found that the impact of Trump's tariffs would be "dramatic" double-digit percentage price spikes in nearly all six retail categories that the trade group examined. The report found that the greatest price spikes could occur for toys: between 36.3% and 55.8%. The report found that the more expensive retail goods would lead to a $46 billion decrease in purchasing power, if Trump imposes both universal tariffs and especially high China rates.

Persons: Donald Trump's, Trump, Mark Zandi Organizations: Abercrombie, Fitch, National Retail Federation, Republican, Bureau of Labor Statistics, CNBC Locations: Manhattan, New York City, China, Mexico, Raleigh , North Carolina

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