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☆ Retail egg prices fell in February — but the price drop may not last long
▼ + stars: | 2023-03-15 | by ( Greg Iacurci | ) www.cnbc.com time to read: +1 min

Matthew Hatcher | Afp | Getty ImagesWhy egg prices increased rapidlyThat dramatic increase in egg prices, economists say, largely stems from a disease called highly pathogenic avian influenza — known as bird flu. It reappeared in the fall last year, crimping egg production while heading into peak demand season for eggs around the winter holidays, experts said. watch nowLower prices now partly reflect a decline in consumer demand early in the year, which is a typical seasonal pattern, said Brian Moscogiuri, a global trade strategist at Eggs Unlimited, an egg supplier. There also hasn't been a new confirmed case of avian flu among commercial table-egg farms since December, giving suppliers some time to recover. Egg prices may pop again around Easter

☆ Here’s the inflation breakdown for February — in one chart
▼ + stars: | 2023-03-14 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

Overall inflation has moderated from June's pandemic-era peak over 9% but remains higher than any point since the 1980s. watch now"The pervasiveness of inflation is an ongoing issue," said Greg McBride, chief financial analyst at Bankrate. Inflation a byproduct of supply, demand imbalancesConsumer prices began rising at a rapid pace in early 2021 as the U.S. economy started to reopen after the pandemic-related shutdown. Goods inflation has retreated but has since spread to the services sector largely due to business' high demand for workers, economists said. The Fed is trying to manufacture a so-called "soft landing," whereby by inflation slows but the economy doesn't tip into a recession.

☆ I just traveled to Argentina — and doubled my money with a 'black market' exchange rate
▼ + stars: | 2023-03-11 | by ( Greg Iacurci | ) www.cnbc.com time to read: +15 min

A legal exchange rate influenced by the black marketA worker lays out 500 Argentine peso note sheets on Aug. 14, 2020 in Buenos Aires. Greg IacurciPut another way: Your money goes almost twice as far with the "blue dollar" exchange rate. The exchange rate for the transaction was 366 Argentine pesos per U.S. dollar, almost double the official exchange rate (190 pesos per dollar) at the time. Anyone who wants to save more cash in U.S. dollars must turn to the black market, which sets the "blue dollar" exchange rate. The exchange rate offered by Western Union has been similar to that of the "blue dollar" rate on the black market.

☆ Wage growth is cooling — but workers still have bargaining power, economists say
▼ + stars: | 2023-03-10 | by ( Greg Iacurci | ) www.cnbc.com time to read: +1 min

The pace of wage growth seems to be decelerating, according to the February jobs report issued Friday — but workers still have bargaining power in a cooling but strong job market, economists said. "Workers have a very strong negotiating position," Mark Zandi, chief economist of Moody's Analytics. "The labor market is still very strong and workers are still in the driver's seat." Employers had to compete for workers in a hot market characterized by record job openings and turnover. It's also the slowest monthly gain since February 2022, according to Jeffrey Roach, chief economist at LPL Financial.

☆ Employers can use this retirement perk as a ‘stepping stone’ to a 401(k), says advisor
▼ + stars: | 2023-03-10 | by ( Greg Iacurci | ) www.cnbc.com time to read: +1 min

Visualspace | E+ | Getty ImagesSmall business owners today may feel they're getting pulled in two directions: stuck between wanting to offer a retirement benefit to their workers but feeling unable to afford costs associated with a 401(k) plan. But entrepreneurs scared by the affordability of maintaining a 401(k) plan can instead consider an alternative workplace retirement plan known as a SIMPLE IRA, said Marguerita Cheng, a certified financial planner based in Gaithersburg, Maryland. The plans — formally known as a Savings Incentive Match Plan for Employees — don't carry the startup and operating costs of a "conventional" retirement plan, according to the IRS. watch nowEmployers are more pressured these days to offer a retirement benefit to stay competitive in a hot labor market, Cheng said. SIMPLE IRAs are also "a great stepping stone" to a 401(k) in the future, if an employer wants to make their offering more "robust," she said.

☆ A simple rule can help you build a savings habit, says advisor: ‘Do it no matter what’
▼ + stars: | 2023-03-09 | by ( Greg Iacurci | ) www.cnbc.com time to read: +1 min

Budgeting and saving money may seem challenging — but the 50-30-20 rule is an easy way for people to get started, said Cathy Curtis, a certified financial planner based in Oakland, California. When using the 50-30-20 rule, you should "pay yourself first," said Curtis, founder of Curtis Financial Planning and a member of CNBC's Advisor Council. In other words, set aside the 20% for savings and debt immediately, and then budget the remainder (for needs and wants) afterward. "Saving [for the future] is as important as every other expense you have," she said. If you don't, it might mean not having enough money to fund your lifestyle later in life, perhaps even living in poverty, Curtis said.

☆ Why moving in retirement can earn you an extra $100,000 — or more
▼ + stars: | 2023-03-07 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

Getty ImagesMoving in retirement can unlock a big pot of money to help fund those post-work years. The typical person at the top 10th percentile made even more money — $347,000 — by using the "retire and relocate" strategy, Vanguard found. A quarter of all U.S. retirees have "the potential to shore up their retirement funding" by moving to a cheaper market, the report estimates. watch nowThis isn't necessarily a strategy Americans should use as the linchpin of their retirement savings strategy, however. "[However], if you're thinking of moving from a major metro area in one state to another, and your housing costs will be half, in general that's not going to be the case," Jenkin said.

☆ Full-time office work is 'dead': 3 labor experts weigh in on the future of remote work
▼ + stars: | 2023-03-03 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

watch nowInitially, remote work was seen as a necessary measure to contain the spread of the virus. Twitter recently shut its Seattle offices as a cost-cutting measure and told employees to work from home, a reversal from an earlier position that employees work at least 40 hours a week in the office. "It's still an evolving trend, but the movement is very much toward increased remote work," Pollak said. Remote work may endure even in a recessionNot everyone agrees that the benefits of working from home outweigh costs. Evidence suggests employee mentoring, innovation and company culture may suffer if jobs are fully remote, Bloom said.

☆ Taylor Swift says fans will 'get on it' to reduce egg prices. Here's why costs are so high
▼ + stars: | 2023-02-10 | by ( Greg Iacurci | ) www.cnbc.com time to read: 1 min

This is an excerpt from the Personal Finance team's weekly Twitter Space, "This week, your wallet." Egg prices have entered the zeitgeist. Comedian Trevor Noah told Taylor Swift at the Grammy Awards on Sunday that the pop star has "the best fans in the world," subsequently asking if they can help reduce the high price of eggs. Unfortunately, factors influencing egg prices at the grocery store are likely beyond the control of "Swifties." Here are three things to know about egg prices right now.

☆ The hidden price of eggs: How high costs may trickle into other foods
▼ + stars: | 2023-02-10 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

The average price for all types of eggs ballooned 60% in 2022, according to the consumer price index. Higher egg prices are largely the result of a deadly outbreak of bird flu in the U.S., economists said. Since February 2022, bird flu killed more than 44 million hens in commercial table-egg-laying flocks, according to the U.S. Department of Agriculture. But there isn't a one-to-one relationship between higher egg prices — whether shelled or in another form — and the cost of other foods. In short: Eggs are one of many factors in inflated consumer food prices.

☆ Rollovers from a 401(k) plan to an IRA: Weigh these 7 factors first
▼ + stars: | 2023-02-09 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Investment funds in 401(k) plans are generally less costly than their IRA counterparts. That's largely because IRA investors are "retail" investors while 401(k) savers often get access to more favorable "institutional" pricing. watch nowOf course, not all 401(k) plans are created equal. For example, more than 30% of 401(k) plans disallow periodic or partial withdrawals by retirees, and about 36% disallow installment payments, according to the Plan Sponsor Council of America, a trade group. Company stockWorkers who own company stock in their 401(k) can get a tax benefit for keeping those holdings in-plan rather than rolling them to an IRA, Jenkin said.

☆ Wholesale egg prices have ‘collapsed.’ Why consumers may soon see relief
▼ + stars: | 2023-02-07 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

Fatih Aktas/Anadolu Agency via Getty ImagesWholesale egg prices have cratered in recent weeks from record highs, meaning consumers may soon see relief at the grocery store. Its Midwest Large White Egg price benchmark is a widely cited barometer in the egg industry. On average, it takes about four weeks for retail prices to reflect wholesale price trends, Rubio said. Retail prices tend to be less volatile than those at the wholesale level. For every 10% decrease or increase in wholesale egg price, consumers can expect retail prices to shift about 2%, on average, Rubio said.

☆ Roth IRA 'five-year rule' can trigger an unexpected tax bill: Here's what you need to know
▼ + stars: | 2023-02-06 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Taxes on investment earnings are at "ordinary income" tax rates, not the preferential tax rates for capital gains. Roth IRA owners must have their account for at least five years to avoid paying income tax on any withdrawn investment earnings. Here's a simple example: Let's say a 60-year-old contributed $6,000 to a Roth IRA in January 2020. It's the saver's only Roth IRA and the first time they've contributed money to such an account. Who will 'never need to know the 5-year rule'Of course, not everyone is eligible to contribute to a Roth IRA.

☆ The current job market is a ‘juggernaut,’ economist says. Here are 6 things to know as a jobseeker
▼ + stars: | 2023-02-03 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Unemployment is at historic lowsThe unemployment rate fell to 3.4% in January — the lowest since May 1969. In fact, you'd have to go back to October 1953 to find a lower unemployment rate (3.1%). "The job market is still strong, and workers have opportunities to go out and find a job that's a better fit for them," Zhao said. "The thing that strikes me the most about the labor market is there aren't layoffs," said Mark Zandi, chief economist at Moody's Analytics. That's not necessarily a bad sign — the job market was also strong in the run-up to the pandemic.

☆ Annuity sales hit record last year, eclipsing sales during 2008 financial crisis amid fear, higher rates
▼ + stars: | 2023-02-02 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

"This was a unique year," Todd Giesing, assistant vice president of Limra Annuity Research, said of the factors that combined to drive record annuity sales. Advisors often recommend some lesser-used annuity types when building financial plans: a single-premium immediate annuity or a deferred-income annuity. Payouts from immediate annuities start right away, while those from deferred-income annuities start later, perhaps in a retiree's 70s or 80s. Single-premium immediate annuities and deferred-income annuities are relatively simple to understand compared with other categories, advisors said. The buyer hands over a lump sum to the insurer, which then guarantees a certain monthly payment to the buyer starting now (an immediate annuity) or later (a deferred-income annuity).

☆ 2022 was the ‘real year of the Great Resignation,' says economist
▼ + stars: | 2023-02-01 | by ( Greg Iacurci | ) www.cnbc.com time to read: +1 min

More than 50 million workers quit their jobs in 2022, according to federal data, breaking a record set the year prior and demonstrating the resilience of a hot labor market characterized by ample job opportunity. But while quitting a job "was the 2021 story, 2022 was the real year of the Great Resignation," said Julia Pollak, chief economist at ZipRecruiter. The trend of elevated quitting came to be known as the Great Resignation. Americans turned to the social media site TikTok to post "Quit-Toks," and to Reddit forums to share stories about quitting and resignation text messages to bosses. About 50.5 million people quit their jobs in 2022, beating out the 47.8 million in 2021, according to Job Openings and Labor Turnover Survey data issued Wednesday.

☆ Tax credits vs. tax deductions: How they differ, and what to know before you file
▼ + stars: | 2023-01-31 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Tax credits offer a dollar-for-dollar reduction in liabilityA tax credit offers a dollar-for-dollar reduction of your taxes. For example, let's say you get a $1,000 tax credit and have a $5,000 tax liability. It's therefore a more indirect way of cutting your taxes relative to tax credits, which directly lower your actual tax liability. On the other hand, a $1,000 tax credit would shave $1,000 off their actual tax bill total. Tax deductions are a lot more valuable [for people] in the 37% tax bracket than someone in the 10% tax bracket.

☆ Long Covid has an ‘underappreciated’ role in labor shortage, study finds
▼ + stars: | 2023-01-30 | by ( Greg Iacurci | ) www.cnbc.com time to read: +1 min

Long Covid is keeping people out of work and may reduce on-the-job productivity for others, contributing to a labor shortage and weighing on the U.S. economy at large, according to a new study. Long Covid — also known as long-haul Covid, post-Covid or post-acute Covid syndrome — is a chronic illness that results from a Covid-19 infection. Up to 30% of Americans develop long Covid after a Covid infection, affecting as many as 23 million Americans, the U.S. Department of Health and Human Services said in November. About 18% of people with long Covid hadn't returned to work for more than a year after contracting Covid, according to a recent study by the New York State Insurance Fund, the state's largest workers' compensation insurer. The labor force participation rate was 62.3% in December, which has shown "little net change" since early 2022 and remains a percentage point below its pre-pandemic level, according to the Bureau of Labor Statistics most recent jobs report.

☆ U.S. unemployment system still plagued by delays 3 years after pandemic-era downturn
▼ + stars: | 2023-01-28 | by ( Greg Iacurci | ) www.cnbc.com time to read: +9 min

Patrick T. Fallon | Afp | Getty ImagesThese days the U.S. unemployment system is somewhat of an anomaly. At the pandemic-era nadir, just 52% got a "timely" first payment of unemployment insurance, for example. Unemployment claims spiked as businesses closed amid stay-at-home orders to contain the virus' spread. States get funding based on their administrative workload, like the volume of claims states are paying. That's especially true for one CARES Act program, Pandemic Unemployment Assistance.

☆ Here are 5 things to know about filing a tax return this year
▼ + stars: | 2023-01-27 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

Filing — and tax help — may be freeCertain taxpayers can leverage free (and often little-used) resources when filing a return. The IRS Free File program offers free, guided tax preparation online. You can use last year's tax return to get a sense of what forms you may need. (Aside from tax forms, be sure to have receipts handy for relevant tax deductions and credits.) To avoid delays, file an electronic, error-free tax return with direct deposit for payments.

☆ Amazon, Google, Meta, Microsoft lay off thousands — but tech jobs are still hot in 2023, Indeed finds
▼ + stars: | 2023-01-26 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

Google announced plans on Friday to lay off 12,000 people, the biggest reduction in the company's 25-year history. Meta CEO Mark Zuckerberg and Amazon CEO Andy Jassy alluded to this overextension when explaining the rationale for their respective layoff plans. Tech skills are in 'high demand'Tech skills are in "high demand across the economy," Julia Pollak, chief economist at ZipRecruiter, wrote in November. "Had tech companies continued growing at the breakneck 2020-2021 pace, they would have monopolized U.S. tech talent and made it impossible for employers in non-tech industries to hire tech talent," she said. Aside from good news for existing tech workers, high demand for technical skills is also a "big sign" of where opportunities exist for those starting or switching careers, Indeed said.

☆ Why the $7,500 EV tax credit may be tougher to get starting in March
▼ + stars: | 2023-01-25 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

The Inflation Reduction Act, a historic climate law President Biden signed in August, tweaked rules for an existing tax credit associated with the purchase of "clean" vehicles. The law, which extended the tax break through 2031, changed some requirements to get the full $7,500 value of the "clean vehicle credit." Some rules are on hold until the IRS issues guidanceSome of the tax credit rules took effect on Jan. 1. How the $7,500 clean vehicle tax credit worksWestend61 | Westend61 | Getty ImagesThe clean vehicle credit is a "nonrefundable" tax credit. The pending rules will tie the $7,500 credit amount to whether a new clean vehicle's battery meets a critical mineral and a battery component requirement.

☆ Egg prices rose 60% in 2022. One farm group claims it's a 'collusive scheme' by suppliers
▼ + stars: | 2023-01-23 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

These industry figures don't seem to square with a two- or three-digit percentage spike in egg prices last year, Farm Action claims. Bird flu's significant impact on hen supply has been the most notable driver, while egg demand has remained strong, Bowman said in a written statement. In this case, that means there's generally not a 1:1 relationship between egg or hen supply and egg prices. Amy Smith vice president at Advanced Economic SolutionsThe dynamic is largely due to a "compounding effect" of demand, Rubio said. Once a farm suffers a flu outbreak, it likely won't produce eggs again for at least six months, Rubio said.

☆ Google bonus delay has a windfall lesson for workers: ‘Don't have it spent before it gets there,’ says advisor
▼ + stars: | 2023-01-20 | by ( Greg Iacurci | ) www.cnbc.com time to read: +2 min

A pedestrian strolls on the Google campus in Mountain View, California, on Jan. 27, 2022. David Paul Morris/Bloomberg via Getty ImagesGoogle is delaying full year-end bonus checks by a few months, simultaneously demonstrating a keystone tenet of household finance: Don't count on money you don't have in hand. The investment bank earlier this month announced job cuts for up to 3,200 employees, or 6.5% of its workforce. watch nowAcross all industries, small businesses slashed 2022 bonuses by 9.7% to an average $526, down from $582 in 2021, according to Gusto, a payroll provider. They shrank most — by 10.7% — among financial companies, law firms and others in the "professional services" category.

☆ Jamie Dimon says Congress shouldn't play games with the creditworthiness of the U.S. government
▼ + stars: | 2023-01-19 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Jamie Dimon, President, CEO & Chairman of JP Morgan Chase, speaking on Squawk Box at the WEF in Davos, Switzerland on Jan. 19th, 2023. JPMorgan Chase CEO Jamie Dimon said Thursday that politicians should be serious about the debt ceiling as Congress remains locked in a political fight to increase the U.S. borrowing limit. It should never happen," Dimon said Thursday on CNBC's "Squawk Box" from the World Economic Forum in Davos, Switzerland. His comments come as Congress remains in a standoff over the debt ceiling, the amount of money the U.S. is authorized to borrow to pay its bills. Today, Dimon said, "Of course Democrats will blame the Republicans and Republicans will blame the Democrats.

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