DIRS.INFO The most relevant business & tech news

☆ Why fast food value menus aren’t as good a deal as you might think
▼ + stars: | 2024-07-11 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +3 min

But just how much value is there in these kinds of “value” meals? Well, actually, not as much as you may think, since prices for many key ingredients used in value meals are coming down. Cheese, potatoes and tomatoes are getting cheaperMany of the recently announced value meals use cheese, potatoes and tomatoes. Meat eaters benefit the most from the value meal warIf you eat meat, you’re more likely to benefit from some value menu items. Given that meat prices are rising at a faster pace than most foods, it’s no wonder most fast-food chains are only offering value menus for a limited time.

Persons: McDonald’s, Joe Erlinger, ” Organizations: New, New York CNN, Taco Bell, Bureau of Labor Statistics ’, McDonald’s, Wall Locations: New York, Burger, McDonald’s USA

☆ As inflation cools, estimate for 2025 Social Security cost-of-living adjustment goes down
▼ + stars: | 2024-07-11 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

The pace of inflation is coming down, which continues to point to a lower Social Security cost-of-living adjustment for retirees and other beneficiaries in 2025. The Social Security cost-of-living adjustment, or COLA, may be 2.7% next year, according to an estimate from Mary Johnson, an independent Social Security and Medicare policy analyst, based on new government data released on Thursday. In 2024, Social Security beneficiaries received a 3.2% cost-of-living adjustment. To be sure, the estimate for the Social Security cost-of-living adjustment for 2025 is subject to change. The Social Security Administration officially determines the cost-of-living adjustment by comparing the third quarter CPI-W data for that year to the third quarter of the previous year.

Persons: Mary Johnson, —, Johnson Organizations: Washington , D.C, Security, Social Security, CPI, Urban, Clerical Workers, Bureau of Labor Statistics, Social, Finance Locations: Washington ,

☆ Prices fell in June for the first time since the start of the pandemic
▼ + stars: | 2024-07-11 | by ( Alicia Wallace | ) edition.cnn.com time to read: +1 min

CNN —US consumer prices did something in June that they haven’t done since the early part of the pandemic: They fell. Economists were expecting a 0.1% monthly increase and an annual gain of 3.1%, according to FactSet consensus estimates. Excluding energy and food prices, a closely watched “core” index of underlying inflation also slowed more than expected. Dow futures rose 80 points. Nasdaq futures rose 0.3% as well.

Persons: — Organizations: CNN, Bureau of Labor Statistics ’, Federal Reserve, Dow, Nasdaq, Treasury

☆ Here's the inflation breakdown for June 2024 — in one chart
▼ + stars: | 2024-07-11 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

They also generally like to examine "core" inflation readings. The monthly core CPI reading was 0.1% in June, the smallest increase in about three years, since August 2021. Shelter inflation has moderated much slower than expected, one of the big reasons inflation hasn't yet fallen back to target, economists said. There were encouraging signals in the latest CPI report: Monthly shelter inflation dropped to 0.2% after being stuck at 0.4% for four consecutive months. Services inflation is the trouble spotInflation for physical goods spiked as the U.S. economy reopened in 2021.

Persons: David Paul Morris, Mark Zandi, Zandi, Sarah House, Aubrey George, George, Joe Seydl, Olivia Cross Organizations: Bloomberg, Getty, U.S . Labor Department, Moody's, Wells, Wells Fargo Economics, U.S . Federal Reserve, CPI, Housing, of Labor Statistics, Morgan Private Bank, Capital Economics, BLS Locations: U.S, Wells Fargo, North America

☆ Restaurants and hotels were helping power the booming job market. Now, they're barely hiring.
▼ + stars: | 2024-07-10 | by ( Madison Hoff | ) www.businessinsider.com time to read: +4 min

Still, the industry largely saw strong monthly job gains following the losses it faced early on in the pandemic, averaging 205,000 jobs a month in 2021. Data out Friday from the Bureau of Labor Statistics showed this industry saw a month-over-month job gain of 7,000; the overall nonfarm payroll job gain in June was 206,000. The industry has historically had higher rates of quits and job openings than the overall labor market, per the Job Openings and Labor Turnover Survey. Additionally, the healthcare and social assistance sectors have seen robust job growth and likely will be looking for job seekers long-term. AdvertisementThe overall tougher labor market still has potential for job seekers.

Persons: —, switchers, Julia Pollak, " Pollak, Pollak, Nick Bunker Organizations: Service, Business, Bureau of Labor Statistics, Labor, BLS, Healthcare, North America Locations: Federal

Mortgage rates have been holding steady so far this week, but they could fluctuate on Thursday when the Bureau of Labor Statistics releases June's Consumer Price Index data. If this index shows that inflation slowed last month, rates could ease. As inflation slows and the Federal Reserve is able to start lowering the federal funds rate, mortgage rates are expected to go down. This should remove some of the upward pressure off of mortgage rates and allow them to trend down more substantially. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: they're, you'll, Fannie Mae Organizations: Bureau of Labor Statistics, Federal Reserve, Investors, Zillow, Mortgage, Association, Sky Locations: Chevron

☆ A Texas Gen Xer explains why he regrets going to college in his 40s
▼ + stars: | 2024-07-09 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

Read previewIn 2018, at age 40, Kenneth Ferraro decided to pursue a college degree for the first time. Ferraro, who's based in Texas, had worked as a truck driver for decades, he told Business Insider via email. The perceived benefits of a college degree have led more Americans to go back to school later in life. Related storiesFerraro shared the biggest challenges he's faced in his job search, including why he thinks having a college degree has sometimes worked against him. While having a college degree improved his credentials, he thinks his age has held him back in the job market.

Persons: —, Kenneth Ferraro, Ferraro, who's, Ferraro's, he's, it's, " Ferraro, wasn't Organizations: Service, Business, New York University, Bureau of Labor Statistics, National Center for Education Statistics, New York Fed Locations: Texas

☆ 15 U.S. states with the lowest cost of living—a single person can live there comfortably on $20 an hour
▼ + stars: | 2024-07-09 | by ( Mike Winters | ) www.cnbc.com time to read: +3 min

As a single person, you'll need an annual income of $40,000 to cover basic expenses in the cheapest U.S. states, according to a recent SmartAsset analysis. The state with the lowest costs of living is West Virginia, closely followed by Arkansas and Oklahoma, the analysis says. In contrast, the most expensive state for a single person is Massachusetts, where a single person needs $58,009 per year to cover basic costs. The difference in basic costs between states is largely due to housing, which tends to be most affordable in rural states. MIT's Living Wage calculator is based on data from various federal agencies, adjusted for inflation as of December 2023.

Organizations: MIT, Bureau of Labor Statistics, CNBC Locations: West Virginia, Arkansas, Oklahoma, West, U.S, Dakota, Kentucky, Ohio, Louisiana, Mississippi, Iowa, Mexico, Nebraska, Alabama, Missouri, Wisconsin, Massachusetts, New York, California

☆ AI tools and startups are helping workers bluff their way through job interviews. Just don't call it cheating.
▼ + stars: | 2024-07-09 | by ( Rob Price | ) www.businessinsider.com time to read: +12 min

Read previewMichael Guan wants you to use AI to bluff your way through that job interview. He's the cofounder and CEO of Final Round AI, a startup building artificial intelligence-powered tools for job seekers. There's a debate in Silicon Valley about the appropriateness of candidates using AI in job interviews. An AI-powered proxy interview demoArjun, a professional interview proxy, hopped on a call to explain how it worked and then gave a demo. Guan argued that using AI during a job interview isn't underhanded; it shows the worker's ingenuity.

Persons: —, Michael Guan, Otter.ai, There's, Guan shrugged, Otter, it's, Arjun, AiApply, Aidan Cramer, Cramer, Buddy, that's, résumé, Guan, Jay Ma, Copilot, Ma Organizations: Service, Business, AWS, Google, Microsoft, Hub, Intel, Nvidia, Wayback, Bureau of Labor Statistics, YouTube Locations: Silicon Valley, Facebook, WhatsApp, London, San Francisco, Francisco, China, Seattle, TikTok

As long as inflation continues to slow, mortgage rates should ease throughout the remainder of 2024, improving affordability for hopeful homebuyers. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. Mortgage Rates for Buying a Home30-Year Fixed Mortgage Rates Decrease Slightly (-0.09%)The current average 30-year fixed mortgage rate is 6.62%, down nine basis points from where it was this time last week, according to Zillow data. 15-Year Fixed Mortgage Rates Essentially Flat (+0.01%)The average 15-year mortgage rate is 5.99%, just one basis point higher than last week. Mortgage Refinance Rates30-Year Fixed Refinance Rates Increase Slightly (+0.16%)The average 30-year refinance rate is 7.86%, 16 basis points up from last week.

Persons: you'll, It's, refinance Organizations: of Labor Statistics, Federal Reserve, Zillow, FHA Locations: Chevron

And at some Chipotle locations, customers filmed workers to try to make sure they didn't skimp on their burrito bowls. The three joined a growing list of consumer brands contending with customers' deep frustration over high prices — and wariness that prices will only rise more. Walmart, on the other hand, said the new price tags will cut a tedious task from store workers' to-do lists. They eliminate the need for store workers to swap out traditional paper tags. Shoppers at a Walmart store in Secaucus, New Jersey, US, on Tuesday, March 5, 2024.

Persons: Wendy's, Jean, Pierre Dubé, David Chavern, Donald Trump, Joe Biden, Kevin Lamarque, hasn't, Dianna Campbell, she's, Campbell isn't, Biden, skimping, Sen, Bob Casey, Andrea Foote, Tricia Moriarty, it's, Jim Cramer, CNBC's, Brian Niccol, Chipotle, We've, Wells, Zachary Fadem, Brandon Bell, It's, Kirk Tanner, Yuki Iwamura, Cristina Rodrigues, Gabby Jones Organizations: Walmart, University of Chicago Booth School of Business, Consumers, U.S . Bureau of Labor Statistics, Consumer Brands Association, Procter, Gamble, Pew Research, Pew, Reuters Shrinkflation, Federal Reserve, Customers, Gatorade, PepsiCo, CNBC, Chipotle, New York, Mexican Grill, Getty, American Farm Bureau Federation, Bloomberg, University of Chicago Locations: U.S, Goffstown , New Hampshire, Manhattan, New York City, Mexican, Austin , Texas, Queens, New York, Europe, Secaucus , New Jersey, US

In June, 30-year mortgage rates averaged around 6.58%, an 18-basis-point drop from the month before, according to Zillow data. This index is a key measure of inflation, and if it decelerated last month, mortgage rates could inch down in response. As inflation slows and the Federal Reserve is able to start lowering the federal funds rate, mortgage rates are expected to ease. 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. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates inched down to 6.25% last week, according to Freddie Mac data.

Persons: Fannie Mae's, homebuyers, you'll, Freddie Mac, it's Organizations: of Labor Statistics, Federal Reserve, Zillow Locations: Chevron

☆ The 'coveted soft landing' is here, Biden's top labor official says — and it could set Americans up for an interest rate cut in September
▼ + stars: | 2024-07-08 | by ( Ayelet Sheffey | Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

Since last fall, the Federal Reserve has held interest rates steady as it continued fighting to get inflation closer to its 2% target. Alongside the Federal Open Market Committee's announcement to hold interest rates steady during its most recent meeting in June, the Summary of Economic Projections penciled in just one interest rate cut for 2024. However, Powell said during the June press conference that there was still time to change that projection — and that a rate cut in September is "plausible." "It's going to be the totality of the data, what's happening in the labor market, what's happening with the balance of risks, what's happening with the forecast, what's happening with growth," he said. CME FedWatch, which estimates market assessments of the probability of interest rate cuts, projects a 93% chance interest rates will remain steady in July and a 72% chance rates will be cut by September.

Persons: —, Jerome Powell, Julie Su, Su, Powell, Jan Hatzius, Goldman Sachs, Hatzius Organizations: Service, Federal Reserve, Business, of Labor Statistics, Fed, CNBC Locations: —

☆ Americans are suddenly finding it harder to land a job — and keep it
▼ + stars: | 2024-07-08 | by ( Elisabeth Buchwald | Alicia Wallace | ) edition.cnn.com time to read: +5 min

Suddenly, the red-hot labor market is feeling closer to lukewarm for job seekers. The unemployment rate rose to a three-year high of 4.1% in June, with 6.8 million people unemployed. At that time a year ago, the unemployment rate was at 3.6% and 6 million people were unemployed. The rising unemployment rate — driven primarily by more people entering the workforce — means that it’s getting more competitive for job hunters to get hired. Since 2022, the temporary help sector has added jobs in only four months.

Persons: It’s, Luke Pardue, switchers, David Tinsley, Jack McIntyre Organizations: CNN, Aspen, Bank of America, Bank of America Institute, “, of Labor Statistics, Labor Department, Brandywine Global

If the data shows that inflation slowed last month, mortgage rates could ease a bit. So it's likely that we'll see mortgage rates decrease throughout the remainder of 2024. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 15-Year Fixed Mortgage RatesLast week, average 15-year mortgage rates were 6.25%, a nine-basis-point increase from the previous week, according to Freddie Mac data. Once the Fed cuts rates, mortgage rates should fall even further.

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

☆ Job switchers hoping for a big raise are in for disappointment
▼ + stars: | 2024-07-07 | by ( Madison Hoff | ) www.businessinsider.com time to read: +4 min

Read previewHere's some less-than-great news if you're looking to job-hop because of your pay: People changing roles likely won't be getting as big of a wage bump as past job switchers. However, the report said that "median pay raises appear to have moderated to around 10%" as of this past May. The drops in the median pay raise for job-to-job movers from 2022 to 2024 were felt across workers in all income groups, the Bank of America Institute found. Still, the report noted that lower-income Bank of America customers — those making under $50,000 a year — had the highest median pay gains. AdvertisementThe report said that those middle- and upper-income job seekers may "have somewhat less leverage and bargaining power in negotiating a raise on taking a job."

Persons: —, David Tinsley, Tinsley, there's, switchers Organizations: Service, Bank of America Institute, Business, Bureau of Labor Statistics, Bank of America, New, of Labor Statistics Locations: Atlanta

☆ John Deere to lay off roughly 600 employees from three US factories
▼ + stars: | 2024-07-07 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +3 min

New York CNN —John Deere announced it will lay off about 600 employees across three US factories as the Illinois-based company shifts production to a newly planned facility in Ramos, Mexico. In total, the three factories have roughly 4,175 production and maintenance employees. The Illinois factory primarily produces harvesting equipment such as combines, while the two Iowa factories manufacture construction and forestry equipment. “We do expect incremental demand decline in the back half of 2024,” Josh Beal, the company’s director of investor relations, said in the May earnings call. At the same time, manufacturing jobs across the country have plateaued at 13 million employees after recovering from a sharp pandemic-related downswing in 2020, according to data from the Bureau of Labor Statistics.

Persons: John Deere, Deere, “, Josh Beal Organizations: New, New York CNN, CNN, Department of Agriculture, Bureau of Labor Statistics Locations: New York, Illinois, Ramos, Mexico, Iowa, Dubuque, Davenport, East Moline , Illinois, United States, South America, Europe, North America

Mortgage rates have started July a bit higher than they were last month, with 30-year mortgage rates averaging around 6.71% this week, according to Zillow data. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. 30-Year Fixed Mortgage RatesThe average 30-year fixed mortgage rate was 6.95% this week, according to Freddie Mac. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates were 6.25% this week, according to Freddie Mac data, which is a nine-basis-point increase from the previous week. Now that the Fed has paused hiking rates, mortgage rates have come down a bit.

Persons: Danielle Hale, Hale, Freddie Mac Organizations: of Labor Statistics, Labor, Federal Reserve, Zillow, Fed Locations: U.S, Chevron

☆ California put up its fast-food wage to $20. Its governor is adamant it's not causing employment to fall.
▼ + stars: | 2024-07-05 | by ( Grace Dean | ) www.businessinsider.com time to read: +5 min

But BLS data shows that employment in California's limited-service restaurant industry dips in the winter. Related storiesThe BLS data includes employment at all limited-service restaurants, including those exempt from the new minimum wage. The year-over-year growth in limited-service restaurant employment is a continuation of a trend seen before the pandemic, too, with total employment in the industry growing every year. AdvertisementThe $20 minimum wage was introduced to support workers in a state with a notoriously high cost of living. Have you been affected by California's new $20 minimum wage?

Persons: —, Gavin Newsom, Newsom, Newsom's, Tom Manzo, It's Organizations: Service, Business, California, Industrial Alliance, Hoover Institution, Stanford University, Wall Street, California Employment Development Department, US Bureau of Labor Statistics, BLS Locations: California, USA

☆ The US economy added more jobs than expected last month as unemployment surprisingly rose
▼ + stars: | 2024-07-05 | by ( Madison Hoff | ) www.businessinsider.com time to read: +1 min

The US economy added 206,000 jobs in June, more than the forecast of 191,000. The unemployment rate rose from 4.0% in May to 4.1% in June. Data released earlier this week showed job openings rose slightly from 7.9 million in April to 8.1 million in May. Meanwhile, the unemployment rate unexpectedly rose from 4.0% in May to 4.1% in June. According to the forecast noted on Investing.com, the US economy was expected to add 191,000 nonfarm payrolls in June.

Persons: — Organizations: Service, payrolls, Bureau of Labor Statistics

☆ What to expect from the June jobs report
▼ + stars: | 2024-07-05 | by ( Alicia Wallace | ) edition.cnn.com time to read: +9 min

That said, the job market of today is far different than it was 30 months ago. “The labor market has normalized,” Luke Tilley, Wilmington Trust’s chief economist, told CNN in an interview. As such, Friday’s report could provide a crucial signal as to whether the jobs market is at a stable or even pre-pandemic state — or is perhaps weaker than advertised. The continued upswing in claims has Tilley closely watching an underlying datapoint of the monthly jobs report: Unemployed persons by reason for unemployment. The overall labor force participation rate dipped in May to 62.5% from 62.7%, reversing progress made earlier this year.

Persons: don’t, ” Luke Tilley, ”, Nela Richardson, ” Dean Baker, aren’t, Tilley, ” Tilley, That’s, Julia Pollak, ” Pollak, Rachel Sederberg, Joe Biden, Donald Trump, Biden, Jerome Powell, Powell, “, can’t, Lightcast’s Organizations: CNN, Bureau of Labor Statistics, Center for Economic, Policy Research, of Labor, Challenger, ZipRecruiter, ”, CNN Business, Workers, Federal Reserve, Labor Locations: Wilmington, “, Portugal

☆ Confessions from 5 women who've dated men in finance
▼ + stars: | 2024-07-04 | by ( Maria Noyen | ) www.businessinsider.com time to read: +14 min

Read previewLast week, I went looking for women dating men in finance. Here, five women with firsthand experience dating a man in finance share their experiences. Some women dating men with demanding jobs discussed the challenges, from getting stood up due to work running late and endless conversations about golf and money. AdvertisementShe said she understands why people trying to pursue relationships with men in finance might wonder: "Does this guy even like me? He's been 'saving' his entire life for meAniesia Williams — a 43-year-old entrepreneur and chief client officer for a tech firm Epigen — had little experience dating men in finance.

Persons: —, Megan Boni, Boni, David Guetta, Finance Bro, Boni's TikTok, They're, Cristina Vanko gravitates, Vanko, Goldman Sachs, Spencer Platt, bro, Weren't, they've, Bro, Bob Thomas, Getty, Summer, she's, hasn't, it's, TikTok, He's, Aniesia Williams, Epigen —, Williams, Dennis Morrow, Morrow, Aniesia Williams Williams Organizations: Service, Trust, Business, Finance, League, Labor Statistics, JPMorgan, Getty, Rolex, Washington DC, Hamptons, BI, Bank of America Locations: Patagonia, United States, NYC, Berlin, Los Angeles, Chicago, Boston, Washington, Bumble, Raleigh , North Carolina, Charlotte, Raleigh

☆ The 10 highest-paying blue-collar construction jobs in the US
▼ + stars: | 2024-07-04 | by ( John Towfighi | ) www.businessinsider.com time to read: +3 min

For many, trade jobs provide a financially secure alternative to a college degree. AdvertisementA new report by Pro Tools Reviews, an industry news and review site, highlights the highest-paying trade jobs in the US, giving insight into career opportunities that don't require a college degree. Experts at Pro Tools analyzed May 2023 wage data from the Bureau of Labor Statistics — the latest available — to determine the most lucrative trade jobs. Pro Tool Reviews also examined the most in-demand trade jobs in the US. AdvertisementHave you recently switched to a trade job, or are you a recent graduate looking to land a trade role?

Persons: —, Zers, Gen Zers, Clint DeBoer, DeBoer Organizations: Service, Business, Pro, Tools, Bureau of Labor Statistics —, boilermakers, LinkedIn Locations: jtowfighi@businessinisder.com

☆ Private payrolls grew by just 150,000 in June, less than expected
▼ + stars: | 2024-07-03 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Private payroll growth edged lower in June, according to a report Wednesday from ADP that indicates a potential slowdown in the U.S. labor market. Companies added 150,000 jobs for the month, below the upwardly revised 157,000 in May and the Dow Jones consensus estimate for 160,000. The sector added 63,000 jobs, easily the biggest gain among the categories that payrolls processing firm ADP measures. ADP's report serves as a precursor to the more closely watched nonfarm payrolls count that the Labor Department will release Friday. For May, the BLS reported that private payrolls rose by 229,000, or 72,000 more than ADP's estimate.

Persons: Dow Jones, Nela Richardson, Job switchers Organizations: Companies, Labor Department, ADP, of Labor, BLS Locations: U.S

☆ A global tax war is looming. It could hit Big Tech hard
▼ + stars: | 2024-07-03 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

New York CNN —A stalemate in Washington could destroy a landmark tax deal that was painstakingly hammered out among 140 countries over the better part of a decade. Some analysts say that the United States’ inability to ratify the deal could lead to a tax war among the richest nations that would hit tech behemoths like Google, Apple, Meta and Amazon particularly hard. Canada recently implemented a local tax on the world’s largest tech companies, something the OECD treaty had sought to avoid. New Zealand has also said it will implement its own digital services tax on large multinational companies beginning in 2025. The FTC also said that documents showed that competing mattress suppliers would lose access to its most important retail channel.

Persons: Donald Trump, he’s, Manal Corwin, ”, Megan Funkhouser, won’t, Alicia Wallace, Economists, Ramishah Maruf, Tempur Sealy, —, Foster Organizations: CNN Business, Bell, New York CNN, Apple, Meta, Economic Co, Development, OECD, Biden, Republicans, Finance, OECD’s, Tax, Administration, Information Technology Industry Council, CNN, Bureau of Labor Statistics ’, Labor, Labor Statistics, Federal Trade Commission, United, FTC, Pedic, Sealy Locations: New York, Washington, United States, Canada, Zealand, New Zealand, Stearns

Search resuls for: "Labor Statistics"

25 mentions found