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Americans are doom spending
  + stars: | 2024-11-10 | by ( Erika Tulfo | ) edition.cnn.com   time to read: +7 min
While this kind of catharsis might work to temporarily allay worries, experts say doom spending poses a danger to consumers’ long-term financial health. Joe Raedle/Getty ImagesThat financial gloom is powering doom spending and, in turn, driving up credit card debt. Beyond the economy, experts say that internet habits play a significant role in driving doom spending, especially for younger consumers. But Alev says that she anticipates a pop in spending whether Americans feel positively or negatively about the outcome of the election. How do you curb doom spending?
Persons: , Gen, “ We’re, Courtney Alev, , Alev, Donald Trump, Trump, Kamala Harris, , Sertan Kabadayi, Joe Raedle, Bankrate, Aja Evans, ’ ” Evans, hasn’t, ” Alev, Jeff Roberson, Biden, Evans Organizations: CNN, Wheaton College senior, YouTube, Credit, Gallup, Fordham University’s Gabelli School of Business, Federal, Federal Reserve Bank of Philadelphia, Finance, Brookings Institution Locations: Massachusetts, Miami , Florida, West Palm Beach , Florida
Here, Feinberg shares the biggest mistakes he often sees people make with their health coverage during open enrollment, and how to avoid them. Waiting until the last minuteThe worst thing you can do during open enrollment season is procrastinate on researching your options, Feinberg says. Your open enrollment period will depend on where you get your health coverage. Instead, it's important to think through your specific health needs and the needs of any dependents or partners on your plan. Paired with a health savings account, or HSA, the option can provide some of the most flexibility in health insurance coverage, he adds.
Persons: they've, David Feinberg, Feinberg, that's, That's Organizations: Justworks, Medicare Locations: millennials, Justworks, Jan, New York City
Anxiety over the US election could be hurting some workers' productivity. One boss is considering letting his employees work remotely in the weeks after the election. She said some workers will be busy hitting refresh on news and social sites, looking for insight into how the election might swing. Yet that doesn't mean being overly indulgent or letting workers focus too long on issues that aren't germane to the business. Despite the widespread election worries, not every indicator signals that the vexing political climate is throwing off most workers.
Persons: , AJ Gareffa, they've, Gareffa, Macey, Felix Kim, he's, Kim, Gabriella Kellerman, Kellerman, Dorie Clark, That's, Clark, Christine Porath, Chapel Hill's, Porath, Discourtesy, it's, Gartner, hadn't, doesn't, It's Organizations: Service, Business, American Psychological Association, APA, Columbia Business School, University of North, Chapel, Flagler Business School, Human Resource Management Locations: Livonia , Michigan, Detroit, ResumeBuilder.com, New York City, University of North Carolina, Michigan
Harris campaign officials had always planned for star-studded events in the homestretch of the presidential election. Harris pollster Matt Barreto, who focuses on Latino voters, argued that endorsements can help mobilize voters. Annie Mulligan/APBoth campaigns utilize the power of celebrityEver since Harris’ campaign kicked off with Charli XCX’s lime green stamp of approval, Hollywood’s influence has been in the spotlight. Both Harris and Trump swiftly pounced on the “Swiftie” fanbase, showcasing the pop superstar’s immense reach: The Harris campaign created Harris-Walz friendship bracelets inspired by the singer, while the Trump campaign released Eras Tour-inspired T-shirts. As Election Day nears, the Harris campaign is bringing in more A-listers to mobilize people to vote, including a long-anticipated appearance by Beyoncé last week.
Persons: CNN —, Nicky Jam, Donald Trump, ” Nicky Jam, Harris, Jennifer Lopez, Ricky Martin, Marc Anthony, Don Omar, “ Despacito, Luis Fonsi, Bunny, Lopez, Trump, , Danielle Alvarez, Bunny –, Benito Antonio Martínez Ocasio –, Harris ’, , , Bad Bunny, Harris pollster Matt Barreto, ” Barreto, Barreto, ” Beyoncé, Kamala Harris, Annie Mulligan, kamala, Charli, Chappell Roan, Taylor Swift’s, Walz, Beyoncé, Brett Favre, Phil McGraw, Elon Musk, Angela Weiss, Leonardo DiCaprio, Arnold Schwarzenegger, I’m, ” Schwarzenegger, Schwarzenegger, Jon Voight, Kelsey Grammer, Roseanne Barr, Jason Aldean, John Rich, Dennis Quaid, Zachary Levi, Mel Gibson, Mike Tyson, Harrison Butker, Buzz Aldrin, podcasters, Adin Ross, podcaster Joe Rogan Organizations: CNN, Las, Puerto Ricans, Trump’s New, Trump’s New York City, Puerto, Bad, Hollywood, Packers, Trump’s, Television, Madison, Getty, Republican, , Trump, Kansas City Chiefs Locations: Las Vegas, Trump’s New York, “ Puerto Rico, Puerto, Puerto Rican, Pennsylvania, Puerto Rico, Houston, Gen, Green Bay , Wisconsin, Trump’s, New York City, California, American, Hollywood
And on Thursday, Harris delivered an unscheduled speech focused on former Trump chief of staff John Kelly confirming Trump praised Adolf Hitler’s generals. The Harris campaign argues that the plan will tip some final undecided voters — a chunk of which are disaffected Republicans or independents. The Harris campaign says it is also focused on understanding what messaging could impact the small number of undecided voters that remain in key battleground states. “The two most motivating messages for Democratic turnout are those around abortion and democracy.”Some Harris campaign officials echoed that argument. Still, some Democrats who have worked with Harris worry there is too much focus on Trump and not on Harris’ unique skills and vision.
Persons: Kamala Harris, Donald Trump, Harris, Trump, Liz Cheney, John Kelly, Adolf Hitler’s, Harris ’, , Cornell Belcher, Democratic pollster, Obama’s, Ashley Etienne, ” Etienne, , Donald, Harris wasn’t, Kelly, ” Harris, “ Trump, Roe, Wade, “ It’s, stewing, Barack Obama, Nikki Haley, , Kelly’s, Hitler, ” Belcher, Pete Giangreco, Cheney, Harris pollster, she’s Organizations: WASHINGTON, Republican, Trump, Capitol, Democratic, CNN, Social Security, United Nations Locations: Houston, Georgia
Hurricane Helene battered rural mountain towns in North Carolina, a key voting bloc for Trump. AdvertisementEarly voting began in North Carolina on October 17, and state election officials said in-person turnout topped a previous record set in 2020. He won North Carolina by less than 75,000 votes in the 2020 presidential race, with strong support in areas outside urban centers. Allison Joyce / AFPThe Democrats aim to flip historically red North Carolina, seeing a path in the rapidly growing suburban areas like Charlotte, Raleigh-Durham, and Fayetteville. North Carolina election officials made emergency changes to expand voting access for residents recovering from the storm.
Persons: Harris, , Helene, Donald Trump, Kamala Harris, Chris Cooper, Cooper, Hurricane Helene, Allison Joyce, Biden, Trump, Roy Cooper, Chuck Edwards, Helene . Edwards, Edwards, Caleb Rudow, He's, Rudow, who've, Bob Phillips, we'll, Phillips Organizations: Trump, Service, Business, Western Carolina University, North, Black, Federal Emergency Management Agency, Gov, Democrat, Republican, FEMA Locations: North Carolina, Asheville, South Carolina, Watauga County, Lake Lure , North Carolina, Hurricane, Charlotte, Raleigh, Durham, Fayetteville, Southern, Buncombe
Empower recently shared the 10 states with the largest average retirement nest eggs. Northeastern states generally lead in retirement savings due in part to higher salaries. The average US retirement stockpile is $498,000, with top states exceeding this by at least $49,000. However, according to data from Empower, a retirement plan provider, savers in some states are ahead of others when it comes to retirement account balances. The average retirement savings across the US is $498,000, the survey found.
Persons: Organizations: Service, Northwestern Mutual
In reality, the data — no matter how bad or good — probably won’t make an ounce of difference for most voters. Most voters likely don’t even follow the overall economic trends, let alone one month’s data, he said. Instead, their views on the economy are shaped by how far their dollars are stretching today compared to recent times. That’s a higher share compared to when voters were asked the same question in 2022. But the average American does not wait for news to come out to form an opinion on how the economy is functioning, she said.
Persons: Kamala Harris, Donald Trump, Harris, , , Micah Roberts, Republican pollster, Roberts, That’s, don’t, Joanne Hsu Organizations: New, New York CNN, Harvard Center, American Political Studies, Republican, NBC News, CNN, University of Michigan, Consumers Locations: New York
Four years earlier, Trump had narrowly carried the Keystone State while losing Latino voters to Hillary Clinton. Biden won Latino voters by 33 points in 2020, while Clinton did so by 38 points. “Today, as of now, I haven’t seen that (from any candidate).”Bethlehem mortgage lender Carmen Dancsecs said she’s worried some Latino voters might stay home come November. Multiple strategies for HarrisThe Harris campaign is pursuing multiple strategies to boost support among Pennsylvania Latino voters in the final weeks ahead of Election Day. Campo helps the Trump campaign canvass Latino neighborhoods, especially in Allentown, speaking with voters about the former president’s platform.
Persons: Pennsylvania CNN — Fresh, Tim Walz, Donald Trump, Marcia Heras, ” Heras, Trump, Kamala Harris, Joe Biden, Hillary Clinton, Harris, Biden, Clinton, Hector Santana, I’m, ” Santana, Carmen Dancsecs, she’s, , ” Dancsecs, Harris The Harris, , Walz, Hurricane Maria, Harrison, ” Walz, “ Hamilton, Anthony Ramos, don’t, Carlos Eduardo Espina, Maria Cardona, it’s, it’s Kamala, ” Trump, – Nicky Jam, Justin Quiles, let’s, ” Anuel, Nicky Jam, Maná, Daniel Campo, Campo, ’ ” Campo, wouldn’t, Trump’s, ” Campo Organizations: Pennsylvania CNN, CNN, Trump, Americans, Pew Research Center, Pennsylvania, Keystone State, NBC News, Telemundo, CNBC, Democratic, Harris The, Puerto Rican, AA, , Puerto Ricans, Campo Locations: Pennsylvania, Puerto Rican, Minnesota, Ecuador, Allentown, Reading , Pennsylvania, White, Reading, Lancaster, Dominican Republic, , Bethlehem, Hurricane, San Juan, Johnstown, Puerto, Las, Wilkes, Barre, Venezuelan
The United States is home to some of the most congested cities in the world, but there are some places around the country where residents have a smooth daily commute. The average commute time was calculated using the 2022 American Census Survey and the traffic was calculated using Lyft data from August 2023 to August 2024. The report found that 25% of the commuters surveyed said that time was the most important factor in having a great commute. "If you are going back to the office, you know that the commute is not what it once was. Though dealing with congestion might seem bad, Bob Pischue, a transportation analyst at INRIX, says it's a sign of a good economy.
Persons: it's, Jill Gonzalez, Bob Pischue Organizations: Survey, CNBC Locations: States, United States, U.S, INRIX
While parents have used location-tracking apps to keep an eye on their kids since the tech was invented, millennials and Gen Zers are now turning the all-seeing eye onto their parents. The kids who grew up with extra watchful parents are now carefully eyeing their parents' every move. While phones lacked tracking technology when Shafer was younger, her parents set hard limits on which hours she could use her first cellphone and whom she could contact. She described her mom and dad's parenting style as "very typical of overbearing parents, especially immigrant parents." And more parents are tracking their kids in college to help quell their anxiety about the separation.
Persons: Sherry Howard, Howard, , TikTok, Zers, Gen Zers, Kacy Shafer, Shafer, Stephiney Foley, Foley, Kelley Roebuck, Cousin Erica's, Roebuck, y'all, Gabrielle Lask, Lask, didn't, Dr, Kanchi Wijesekera, Julianne Goldfinger, Goldfinger, she's, I'm, Wijesekera, Joy Loverde, Loverde, they've, it's, Julia Pugachevsky Organizations: The New York Times, Pew, Business Locations: Ohio, Caribbean, West Virginia, New York, Shanghai, Smoky, Tennessee, Seattle, Florida, Illinois, California
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
Most US millionaires don't consider themselves rich, according to a new study. There are about 5.5 million Americans with more than $1 million in investable assets in the US. The study found that only 32% of millionaires surveyed considered themselves "wealthy." Go to newsletter preferences Thanks for signing up! AdvertisementThe majority of US millionaires don't consider themselves to be "wealthy," according to a new study.
Persons: Organizations: Service, Northwestern, Business
In today’s edition, we report on how the polling landscape has changed since Vice President Kamala Harris took over as the Democratic presidential candidate. But the Trump campaign is rushing to define Harris differently. This week, two ads went up that underscored the war to define Harris. Read more → 📺 The race is on: The race to define Harris is heating up, with the Harris campaign and the Trump team hitting the airwaves. Read more →The race to define Harris is heating up, with the Harris campaign and the Trump team hitting the airwaves.
Persons: Kamala Harris, Yamiche, Yamiche Alcindor, Kamala Harris ’, Joe Biden, Megan Thee, , Donald Trump, Trump, Harris, ” Trump, Brian Hughes, ” Harris, She’s, The, Read, Mark Murray It’s, Biden, 🗞️, J aime H, J ohn, Simone Biles, Organizations: NBC, White House, Capitol, Democratic, Democratic Party, Biden, The Trump, , New York Times, Siena College, Street, Reuters, NYT, Wall Street, Bloomberg, Trump Locations: Arizona , Georgia, Nevada , North Carolina, Pennsylvania, Arizona , Nevada, Wisconsin, Michigan
After all the political tumult of the last month, Thursday’s latest New York Times/Siena College poll is full of findings unlike any we’ve seen this cycle, with one exception: who leads the presidential race. The poll found Donald J. Trump ahead of Kamala Harris by one percentage point, 48 percent to 47 percent, among likely voters. Other than the name of the Democratic candidate, “Trump +1” is a result that could have been from any other Times/Siena poll before President Biden’s disastrous debate. But on question after question, there are major shifts from previous Times-Siena polls, which were all taken before Vice President Harris essentially locked up her party’s nomination for president, before the Republican convention, and before the attempted assassination of Mr. Trump. Even the one-point Harris deficit represents a significant improvement for Democrats from Mr. Biden’s six-point deficit in our last Times/Siena poll.
Persons: Donald J, Trump, Kamala Harris, , Biden’s, Harris, Mr Organizations: New York Times, Siena College, Democratic, “ Trump, Times, Republican Locations: Siena
Officially, the National Bureau of Economic Research defines a recession as "a significant decline in economic activity that is spread across the economy and lasts more than a few months." But regardless of the country's economic standing, many Americans are struggling in the face of sky-high prices for everyday items, and most have exhausted their savings and are now leaning on credit cards to make ends meet. We're in a 'vibecession'Economists have wrestled with the growing disconnect between how the economy is doing and how people feel about their financial standing. We're in a "vibecession," Joyce Chang, JPMorgan's chair of global research, said at the CNBC Financial Advisor Summit in May. "If you're a homeowner or if you own financial assets, you've done very well, but you're leaving out huge segments of the population," Chang said.
Persons: Harris, Joyce Chang, JPMorgan's, Chang, that's Organizations: Guardian, National Bureau of Economic Research, CNBC, Summit Locations: U.S
Before I get to President Biden, let me tell you about my love for a different presidential candidate. In 1972, when I was 13 years old, I knocked on doors to canvass for George McGovern, the Democratic senator who wanted to end the Vietnam War. When more sober-minded Democrats pushed to nominate former Vice President Hubert Humphrey, who had the virtue of being electable, the McGovern faithful fought back and Humphrey’s bid collapsed. At the time of the 1972 Democratic National Convention, McGovern was down 20 points in a Harris poll. But we cheered McGovern and believed in him — until Nixon won that November by a 23-point landslide, carrying 49 states.
Persons: Biden, George McGovern, McGovern, Richard Nixon, Hubert Humphrey, , Nixon Organizations: Democratic, Convention Locations: Vietnam
Francois Lo Presti | Afp | Getty ImagesFrench voters are heading to the polls on Sunday for the second and final round of voting in a snap parliamentary election. By offering voters a starker choice and fewer candidates, RN's opponents hope that the electorate will opt for the non-RN candidate. "For instance, former Prime Minister Edouard Philippe has said voters should vote neither for the RN nor candidates from the far-left France Unbowed (LFI) party. At the same time, current Prime Minister Gabriel Attal has called for everyone to vote against the RN." If the choice was between a far-left and far-right candidate, however, the picture was more nuanced, showing a split vote.
Persons: Francois Lo Presti, Emmanuel Macron's, Jordan Bardella, Antonio Barroso, Edouard Philippe, Gabriel Attal, Ifop, Teneo's Barroso, Harris, Emmanuel Macron, Xi Jinping, Mohammed Badra, Macron, Teneo, Julien De Rosa Organizations: French, Afp, Getty, National Assembly, Front, NFP, Le, Palais des Sports, Nurphoto, Research, Harris Interactive, Reuters, Republicans, Macron's, Chinese Business Council, National Locations: Henin, Beaumont, France, Paris, Franco, Marigny, Garches
Opinion | Is Kamala Harris Underrated?
  + stars: | 2024-07-05 | by ( The Ezra Klein Show | ) www.nytimes.com   time to read: +1 min
If Joe Biden steps aside for the Democratic presidential nomination — still a very big if — the favorite to replace him is Vice President Kamala Harris. In recently leaked post-debate polling from Open Labs, Harris polled better than Biden in matchups against Trump. But Harris hasn’t inhabited that political profile for years. And since becoming Biden’s vice president the conventional wisdom on her has shifted: She’s gone from rising star — many thought her “the next Obama” — to political underachiever. And are critics of Harris fair, or is she underrated now?
Persons: Joe Biden, , Kamala Harris, Harris, Dana Goodyear, She’s, Obama ” —, , Ezra Klein, I’ve Organizations: Democratic, Open Labs, Biden, Trump, Apple, Spotify, Amazon Music, YouTube Locations: New
Read previewQuiet vacationing — or taking time off or working from across the world without telling your boss — is growing in popularity. David Barkoe, the CEO and founder of Florida-based PR firm Carve Communications, said it all comes down to creating a culture of trust with your employees. Advertisement"Go live your life, but get the job done," Barkoe told Business Insider while describing his approach. Advertisement"You just got to have the mindset and the willingness to say personal life is part of the work culture," he said. "Not the other way around, where work culture is part of the personal life."
Persons: , what's, David Barkoe, Barkoe, it's, they're, Ashton Mathai, Mariya Borisova, Mathai, David himself Organizations: Service, Business, Communications, BI Locations: Florida, Europe, Scotland, Amsterdam, Portugal, Italy, India
Former President Donald J. Trump’s silence to some extent reflects his desire for President Biden to stay in the race. But Mr. Trump has largely sat back and allowed the Democratic Party to dominate the debate over Mr. Biden’s political future, in a signal of his preferred opponent. Mr. Trump did appear to delight in mocking his rival in a raw video first reported by The Daily Beast on Wednesday and later shared by Mr. Trump. If Mr. Biden stepped aside, Mr. Trump would lose two lines of attack that have been central to his campaign. That message would be hamstrung if another candidate replaced Mr. Biden on the ticket.
Persons: Donald J, Biden, Trump, Mr, John Reid, Biden’s, “ Biden, Kamala Harris, Michelle Obama, Harris, Obama, , golfed, , Corey Lewandowski, Mike Howell, Trump’s, Susie Wiles, Chris LaCivita, Joe, Cackling Copilot Kamala Harris, Kamala, Lewandowski, Joe Biden, ” Mr, , Lindsey Graham, Graham Organizations: Democratic Party, New York Times, Siena, Republican, Democratic, Biden’s Democratic, CNN, Mr, Daily, Trump, America, Heritage Foundation, Inc, House Republicans, , , Trump Campaign Locations: Virginia, New Jersey, Georgia, Nevada, Wisconsin, Biden’s, South Carolina
More than half of Gen Z workers and millennials have "quiet vacationed" — taken time off without formally requesting PTO — during the July Fourth holiday week, with a similar trend expected to continue this year, according to a new Harris Poll of 1,274 American workers. Gen Zers and millennials might also be quiet vacationing to cope with constraints on PTO and increased feelings of burnout. More than half (53%) of Gen Zers and millennials from the Harris Poll survey say they "barely get any work done" around the Fourth of July. In a separate Harris Poll survey, half of employees said they get nervous requesting PTO (This increases to 58% for Gen Z and 61% for millennials). Many Americans from the Harris Poll survey said they wished their employer placed more emphasis on the value of taking time off.
Persons: , Tim Osiecki, Gen Zers, shirk, They're, Z, Osiecki, Gen Organizations: AAA, Harris, Workers
Read previewGetting access to fertility benefits through your employer used to feel like a luxury reserved for workers at major tech companies. Many companies offer fertility benefits by partnering with providers like Progyny and Carrot, which offer customizable plans. Related storiesOffering great fertility benefits is one way companies can compete for top talent, especially millennials and younger professionals. A recent HR Brew/Harris Poll found that, overall, 63% of respondents thought companies should offer fertility benefits to employees. AdvertisementAnevski expects the number of businesses and industries offering fertility benefits will only increase, especially as top talent comes to expect it as part of a desirable job.
Persons: , Pete Anevski, it's, Progyny, Anevski, Megan Garner, Carrot, Garner, Fortune, Mercer, Harris, Gen Organizations: Service, Business, Microsoft, Google, Nike, Carrot, Progyny Locations: West Coast
CX employees must now live within 60 miles of one of seven "hubs" — Atlanta, Salt Lake City, Reno, Dallas, Austin, Chicago, or Pittsburgh. AdvertisementPatagonia verified the details of the announcement to BI, confirming that 90 of 255 CX staff in the US were affected. Both employees BI spoke to said they were accepting the severance and did not know anyone who was considering relocation. AdvertisementPatagonia spokesperson Corley Kenna told BI several employees had already indicated they would relocate. Advertisement"The reality is that our CX team has been running at 200% to 300% overstaffed for much of this year," Kenna told BI.
Persons: , Amy Velligan, Bruce Old, George Frey, I've, Corley Kenna, Kenna, We've, Yvon Chouinard, Harris, Chouinard, Jean, Marc Giboux, Yvon Chouinard's, Yvon, it's Organizations: Service, Business, Workers, Walmart, Patagonia, BI, Reno, New York Times, Washington Post Locations: Patagonia, Atlanta, Salt Lake City, Reno, Dallas, Austin, Chicago, Pittsburgh, California, Ventura, Nevada
This has taken a major toll on the remaining hiring teams, who must now manage overwhelming workloads. For employers, acknowledging the challenges your hiring teams are grappling with, along with the innovative solutions available to them, can ultimately make the hiring process better for everyone involved. Currently, hiring teams are working under economic uncertainty, making companies more hesitant to make long-term hiring decisions. AI can make hiring more efficient and humanChris Hyams, CEO of Indeed, is optimistic about what AI can do for hiring processes by blending AI capabilities with human judgment. How Indeed employs AI responsiblyIndeed's Smart Sourcing platform is a prime example of using AI responsibly to support, not replace, human decision-making in the hiring process.
Persons: Harris, Chris Hyams, We're, " Hyams, Tony Stark, Hyams, it's Organizations: Harris, Bureau of Labor Statistics, Smart, Insider Studios
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