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☆ Higher pay leads to surge in STEM graduates. Science, tech majors are 'the most lucrative,' says expert
▼ + stars: | 2023-10-20 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

Getty ImagesHighest-paying majors are mostly STEMPayscale's recent college salary report found that petroleum engineering is currently the highest-paying major overall. After petroleum engineering, operations research and industrial engineering majors are the next highest paid, followed by interaction design, applied economics and management, and building science. The growth in STEM jobs is expected to outpace that of non-STEM jobs in the coming years, Pew also found. 'You don't always need a degree'However, in some STEM-related fields, "you don't always need a degree," according to John Mullinix, chief growth officer at Ladders. A growing number of companies, including many in tech, are dropping degree requirements for middle-skill and even higher-skill roles.

Persons: Marc Cenedella, Greenberg, Eric Greenberg, Pew, John Mullinix Organizations: U.S . Census, Greenberg Educational, College Board, Pew Research

☆ The League was criticized as the dating app for elitists—'that was actually never the case,' founder says
▼ + stars: | 2023-10-20 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +9 min

When The League first entered the emerging dating app space in 2014, it was labeled "elitist." All of this, of course, makes The League harder to join than other dating apps such as Tinder or Bumble. Eight years since that post, and one year since the app was acquired by Match Group, Bradford maintains the app isn't elitist. It's less about what you've achieved and more about where you're going. Bradford: She's a Harvard graduate and thinks people from those schools want someone that's going to match them from those communities.

Persons: Amanda Bradford, Bradford, Aditi Shrikant, it's, It's, you've, Wharton MBAs, I've, she's, She's Organizations: League, The League, LinkedIn, Match Group, Bradford, CNBC, Pew Research Center, People, Survey, Ivy League, Harvard, MTA, York's Metropolitan Transportation, Global Locations: Bradford, San Francisco

Sales rose in the Northeast but fell elsewhere, although sales were down year to year throughout the country. Sales are now running at an annual rate of 3.96 million, down 15.4% from 4.68 million a year ago. On Tuesday, the Census Bureau reported that retail sales rose by 0.7%, more than twice what had been expected, as consumers flocked to eating and dining establishments and shopped more online. Among middle-income households, 25% plan to spend more, while 16% of low-income households will increase holiday spending. “Despite a lot of the negativity you see everywhere, consumers seem pretty resilient,” Rose says.

Persons: ”, Lawrence Yun, LEI, Justyna, Monica, TransUnion, Mark Rose, ” Rose Organizations: National Association of Realtors, Federal, Conference, The Conference Board, “, The, Board, Federal Reserve Bank, Atlanta’s, Census Bureau, Labor Department

☆ Poverty is rising faster in American suburbs as lower-income people are pushed out of big cities
▼ + stars: | 2023-10-19 | by ( Eliza Relman | ) www.businessinsider.com time to read: +3 min

The rate of suburban poverty rose three times faster than urban poverty between 2019 and 2022. The skyrocketing cost of housing in major cities is one factor pushing lower-income people out of cities. But the pandemic has accelerated the trend of suburban poverty rising at a faster rate than urban poverty, according to new US Census data. While the rate of poverty is rising faster in suburbs than in cities overall, cities still have a higher per capita poverty rate on average. In 2022, 9.6% of suburban dwellers lived in poverty, while 16.2% of residents of major cities were poor, Brookings noted.

Persons: —, Louis, Saint Paul, Brookings Organizations: Service, American, Survey, Brookings Institution, Brookings Locations: South, West, Midwest, Suburban, Washington, DC, Houston, San Francisco, Ogden , Utah, St, Minneapolis, Saint

☆ What do homeowners in California and Florida have in common? A major insurance problem
▼ + stars: | 2023-10-19 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +4 min

Homeowners in both California and Florida are facing a home insurance crisis due to natural disasters. AdvertisementAdvertisementFormer Florida residents Natalia and John told Insider's Jordan Pandy that they had to leave after their homeowners insurance skyrocketed to $12,000. The lifelong Florida residents said they moved to a town in Wisconsin where they could get a lot more bang for their buck. Across the country, another form of natural disaster is complicating homeowner's insurance in the West, including California. "Modernizing our insurance market is not going to be easy or happen overnight," California Insurance Commissioner Ricardo Lara, said, according to AP.

Persons: —, Natalia, John, Insider's Jordan Pandy, Insider's Catherine Boudreau, Dan Latu, Ricardo Lara Organizations: Service, Census, CBS News, Guardian, Allstate, AP Locations: California, Florida, Wisconsin

☆ US adults living alone may face higher risk of cancer death, study suggests
▼ + stars: | 2023-10-19 | by ( Jacqueline Howard | ) edition.cnn.com time to read: +6 min

In comparison, among 358,876 adults who lived with others, a much smaller share — 1.6% — died of cancer in the study. “We found that working adults living alone had a 1.32 times higher risk of cancer death than adults living with others,” said Dr. Farhad Islami, an author of the study and senior scientific director of cancer disparity research at the American Cancer Society in Atlanta. That suggests that adults living alone have about a 32% higher risk of cancer death. Compared with adults living with others, adults living alone were more likely to have fair or poor self-reported health status, activity limitation, serious psychological distress, severe obesity, smoke cigarettes, or consume alcohol, according to the study. So, those who live alone may be vulnerable to social isolation,” Milbury said in the email.

Persons: —, “, ”, Farhad Islami, ” Islami, Vivek Murthy, Kathrin Milbury, ” Milbury, Dr, Sanjay Gupta Organizations: CNN, Cancer, American Cancer Society, US Department of Health, Human Services, National Health, The University of Texas, Anderson Cancer Center, CNN Health Locations: United States, Atlanta, White

☆ These 10 states are home to the most stressed out people in America—New York and California didn't make the list
▼ + stars: | 2023-10-19 | by ( Celia Fernandez | ) www.cnbc.com time to read: +1 min

Earlier this year, WalletHub released a ranking of the "most and least stressed" states in America. Some of the most expensive states to live in, New York and California, didn't even make the top 10 list. New York landed in the 20th spot while California came in 23rd. Folks in South Dakota get the most amount of hours of sleep per night, while Pennsylvanians get the least. California and Nevada are the top two states for job security and Ohio offers the most affordable housing.

Persons: WalletHub, didn't Organizations: U.S . Census Bureau, of Labor Statistics, for Disease Control, Ohio Locations: America, U.S, New York, California, Texas , Alaska, North Dakota , Wyoming, Alaska, South Dakota, Nevada

But the income gains were largest among the highest-earning families, and fastest among white families, with income at the median actually registering small declines for both Hispanic and Black families, the Fed found in its latest Survey of Consumer Finances, conducted every three years. Median net worth rose sharply for all ethnic and income groups, the survey showed, though the lowest-earning 20% of households fared the worst, with a 2% decline on average over the period versus double-digit increases for all other income groups. The survey showed other stark contrasts. Still, Black households had the lowest median net worth at about $45,000, 27% below the next lowest, Hispanics, at about $62,000. By contrast, median household net worth for white families was $285,000 and for Asians - measured on their own for the first time in this year's survey - was $536,000.

Persons: Ann Saphir, Dan Burns, Chizu Nomiyama, Aurora Ellis Organizations: Federal, Consumer Finances, Thomson

☆ The 30-year fixed mortgage rate just hit 8% for the first time since 2000 as Treasury yields soar
▼ + stars: | 2023-10-18 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

The average rate on the popular 30-year fixed mortgage rate hit 8% Wednesday morning, according to Mortgage News Daily. Mortgage rates follow loosely the yield on the 10-year U.S. Treasury . Rates rose sharply this week and last week, as investors digest more reads on the economy. On Wednesday, it was housing starts, which rose in September, though not as much as expected, according to the U.S. Census Bureau. These higher rates have caused mortgage demand to plummet, as applications fell nearly 7% last week from the previous week, according to the Mortgage Bankers Association.

Persons: Matthew Graham, Horton Organizations: Mortgage News, Treasury, . Census, Federal, Mortgage, Association, CNBC

☆ Homebuilding bounced back in September
▼ + stars: | 2023-10-18 | by ( Anna Bahney | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —US homebuilding bounced back in September, after dropping in August to the lowest levels since 2020 as mortgage rates climbed. Building permits dropped in September, falling 4.4% from August’s revised number to a seasonally adjusted annual rate of 1.473 million. “Builders continue constructing smaller homes using less land, and offering incentives, but to build our way out of the housing shortage we’ll need mortgage rates well below current levels,” he said. Homebuilders are becoming increasingly anxious about persistently high mortgage rates and cooling demand, she said. “To keep buyers interested, many builders have been offering upgrades or buying down mortgage rates,” she said.

Persons: US homebuilding, ”, Robert Frick, Lisa Sturtevant, “, Sturtevant Organizations: DC CNN, US, Housing, Census, Navy Federal Credit Union, “ Builders, Bright MLS Locations: Washington

The report reflects the uneasy state of new construction, with builders facing the strain of high mortgage rates and increased costs for building materials. “To keep buyers interested, many builders have been offering upgrades or buying down mortgage rates, but rising home prices coupled with mortgage rates approaching 8% means there will be fewer buyers in the market to entice,” Bright MLS Chief Economist Lisa Sturtevant said. It is the week’s second report on the state of the new housing market. On Tuesday, the National Association of Home Builders/Wells Fargo Housing Market Index revealed that builder confidence fell for the third consecutive month in October. "Today’s September housing starts report reflects the fragility of the real estate market,” said Travis Hodges, managing director at insurance broker VIU by HUB.

Persons: “, ”, Lisa Sturtevant, Alicia Huey, Travis Hodges Organizations: Census Bureau, Department of Housing, Urban Development, MLS, National Association of Home Builders, National Association of Realtors Locations: Wells Fargo, Birmingham , Alabama, Florida, California

☆ Nashua, New Hampshire is the safest city in America, new study says—here's the full top 10 list
▼ + stars: | 2023-10-17 | by ( Celia Fernandez | ) www.cnbc.com time to read: +2 min

In October, WalletHub released its annual ranking of the safest cities in the United States. Nashua, New Hampshire is the safest city in AmericaNashua ranked as the No. Nashua, New Hampshire ranked as the safesty city in the U.S., according to WalletHub. Columbia, Maryland, is in Howard County, which has seen a decline in violent and property crimes since 2018. Columbia, Maryland ranked as the second safest city in the U.S., according to WalletHub.

Persons: WalletHub, Ariz Organizations: U.S . Census Bureau, of Labor Statistics, FBI, America Nashua, Nashua , New Hampshire, Gilbert, U.S, The, Maryland ., Columbia, Istock, Getty Locations: U.S, United States, Nashua , New Hampshire, America, Hillsborough County , New Hampshire, Nashua, America . Nashua, Massachusetts, Boston, Concord , New Hampshire, Nashua , New, America Nashua, N.H . Columbia, Md, South Burlington , Vt, Warwick, R.I . Portland , Maine Casper, Wyo, Yonkers, N.Y, Burlington , Vt, Scottsdale, Ariz, Columbia , Maryland, The Maryland, Baltimore, Columbia, Maryland, Maryland . Columbia , Maryland, Howard County

☆ Remote work is still 'frustrating and disorienting' for bosses, economist says—their No. 1 problem with it
▼ + stars: | 2023-10-17 | by ( Morgan Smith | ) www.cnbc.com time to read: +3 min

Remote work has plummeted from its pandemic high. Remote work's gradual decline reflects the ongoing push from companies to get employees back in the office: 43% of companies have set tighter limits around remote work or mandated some form of return-to-office over the past year, ZipRecruiter reports. Although some bosses have recognized the benefits of remote work — and studies have shown that employees are often more productive and less likely to quit when they have some degree of workplace flexibility — many are still hesitant to adopt remote work permanently. "It's an incredibly challenging, frustrating and disorienting time for employers when the tool they relied on most, observing employees in-person, is gone," ZipRecruiter chief economist Julia Pollak tells CNBC Make It. "The challenges with remote work aren't going to be solved overnight, but making that change is a strong start."

Persons: Goldman Sachs, Julia Pollak, Pollak, haven't Organizations: Business, Meta, CNBC, Workers Locations: U.S, ZipRecruiter

☆ Work-from-home rate tumbles, hits post-pandemic low
▼ + stars: | 2023-10-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWork-from-home rate tumbles, hits post-pandemic lowCNBC's Andrew Ross Sorkin reports on the latest data from the U.S. Census Bureau.

Persons: Andrew Ross Sorkin Organizations: U.S . Census Locations: U.S

Retail sales increased 0.7% in September, driven by nonstore retailers and spending at food and drinking establishments, the Census Bureau reported on Tuesday. Even after stripping out autos, as some analysts do, the increase was 0.6%, way above estimates of a 0.2% gain. As long as those trends remain positive, consumers will feel they have the wherewithal to continue shopping. “Consumer spending has been fairly flat over the last two months,” according to Bank of America Institute’s Consumer Checkpoint October report. However, the wages and salaries of higher-income households are still growing at slower rates than other income cohorts.”Many retailers will be looking to the critical holiday season for a boost in sales.

Persons: ”, Ted Rossman Organizations: Census, Bankrate.com, “, Federal Reserve, Employers, Labor Department, Bank of America, ” Bank of America, Cyber, Signifyd’s Commerce

“When I spoke to them … they were basically saying, ‘We think this is it, we will not survive this one,’” he said. “When this individual said, ‘You Muslims must die,’ this was a message not to the boy and the mother. Last weekend, as Israel continued to bombard Gaza in response to the October 7 Hamas attack, activists staged pro-Palestine rallies in New York City’s Times Square and in cities across the country. Many Muslim or Arab leaders say they feel compelled to speak out against the climate of Islamophobia to stem further violence. “Anxiety and fear are high.”Sarsour said a unified message from US officials would help address Islamophobia at home.

Persons: Taher Herzallah, they’ve, ’ ”, ” Herzallah, Wadea Al Fayoume, Al Fayoume’s, Ahmed Rehab, Al Fayoume, ”, ‘, Linda Sarsour, ” Sarsour, ” Aber, Abed Ayoub, ” Ayoub, ” Selaedin Maksut Organizations: CNN, Palestinian, Islamic Relations, West Bank, NYPD, Census Bureau –, US, Palestine, New York City’s, Islamic Locations: Israel, Gaza, Chicago, Bridgeview , Illinois, Palestinian, New York City, Dearborn , Michigan, Iraq, United States, Palestine, New York, New Jersey

☆ Return-to-office appears to be winning, with the proportion of people working from home dropping to its lowest level since the COVID-19 pandemic began
▼ + stars: | 2023-10-17 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

The proportion of Americans working from home is at its lowest level since the pandemic started. AdvertisementAdvertisementThe proportion of Americans working from home has fallen to the lowest level since the pandemic started, according to Census Bureau data. Bloomberg reported that the proportion of Americans working from home peaked in March 2021. The fall in the proportion of Americans working from home comes amid a continued return-to-office drive as COVID-19 rates fall and employers debate the productivity of working from home. AdvertisementAdvertisementA recent report from Goldman Sachs showed that research studies have divergent conclusions on the effects of remote work on productivity.

Persons: —, Goldman Sachs, Drew Houston, Fortune, Houston, Insider's Rebecca Knight Organizations: Service, Survey, Bloomberg, Trust

☆ Here are the top 10 highest-paying college degrees — and they're not all STEM
▼ + stars: | 2023-10-17 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

watch nowBetween the sky-high overall cost and hefty student loan tab, more students and their families are reconsidering the value of a college education. But ultimately, it's the choice of major and type of degree that most affects your return on investment. Alternatively, those with degrees in education, elementary education, fine arts, family and consumer sciences and social work had annual earnings of less than $60,000. For example, women with computer science degrees earned $91,990, while men earned $115,500. Among economics degree holders, women earned $84,750 while men earned $107,300.

Persons: inequity, Stefanie O'Connell Rodriguez Organizations: U.S . Census Bureau . Workers, Census

☆ An American Puzzle: Fitting Race in a Box
▼ + stars: | 2023-10-16 | by ( K.K. Rebecca Lai | Jennifer Medina | ) www.nytimes.com time to read: +18 min

1790 1850 1890 1950An American Puzzle: Fitting Race in a Box Census categories for race and ethnicity have shaped how the nation sees itself. Ever since the census began measuring the U.S. population, race has been central to the counting. Closer look at one of the pages from the 1790 census, with the race categories circled in red. Historically, some edits to census race boxes reflected changes in policy or public sentiment. 1790 census All other free persons Free white males Free white females Slaves All other free persons Free white females Free white males Slaves All other free persons Free white males Free white females Slaves Source: 1790 United States Federal Census: New YorkThe census counted each enslaved worker as three-fifths of a person, reflecting a compromise that granted enslavers more political representation.

Persons: —, Biden, ”, Roberto Ramirez, Mark X, Barack Obama, Naomi Mezey, enslavers, “, Ms, Mezey, Jeffrey S, Evan Shepard Organizations: U.S, Community, U.S . Census, Georgetown University, United, . Census, Census Bureau, Pacific Islanders, Puerto Ricans, Geographic, Pew Research Center, Latinos, Saudi Arabian, Biden administration’s, Management, Budget, Advocacy Foundation Locations: United States, America, China, Puerto Rican, U.S, Spanish, Kansas, Kenya, York, American, “, Alaska, Massachusetts, Japan, Korea, Asia, Hawaii, Mexico, Panama, Chile, Mexican, Southwest, Puerto, Northeast, Florida, Eastern, Algerian, Kurdish, Kuwaiti, Lebanese, Moroccan, North, Palestinian, Saudi, Somali, Sudanese, Syrian

☆ The pay penalty for becoming a teacher is worse than ever
▼ + stars: | 2023-10-13 | by ( Madison Hoff | ) www.businessinsider.com time to read: +4 min

A recent report highlighted the pay penalty between teachers and college graduates in other roles. The author found this pay penalty was at a record in 2022 when controlling for education and other factors. There's also a total compensation penalty for teachers when factoring in benefits like healthcare and retirement plans. Before the pandemic, the total compensation penalty was 10.2% in 2019 — with a benefits advantage of 9.0% and a wage penalty of 19.2%. At the same time teachers face a pay penalty, many use what they make to buy supplies and other items for their classrooms.

Persons: —, Sylvia Allegretto, Alana Ward, NPR's Michel Martin, COVID, we're, Allegretto, Kuehne Organizations: Service, Center for Economic, Policy Research, Economic Policy Institute, Survey, McKinsey

☆ Having fun is more expensive than ever. It's making people feel worse about the economy.
▼ + stars: | 2023-10-12 | by ( Noah Sheidlower | Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

Even as inflation cools and the economy stays strong, people still feel uneasy about the current outlook. Now, price growth is slowing down, but not necessarily for the things Americans want. But prices on things Americans want to do — like go to movie theaters, buy alcohol, or care for their pets — are still persistently high. Even with wages going up, inflation is making it more costly to go out to eat or even Netflix and chill. AdvertisementAdvertisementEven as more Americans land jobs, high inflation has left some Americans in dire straits and disproportionately hits the country's lowest earners.

Persons: —, there's, Labor Julie Su Organizations: Service, Student, Suffolk University Sawyer Business School, USA, Labor, Bureau of Labor Statistics, Census Bureau, Survey

CNN —Target is closing nine stores in four metropolitan areas: the San Francisco Bay Area, Portland, Seattle, and New York. Here are four charts showing what retailers are facing in those areas where Target is closing stores. The six counties where Target is closing stores saw exoduses in high earners larger than the average for similar counties. Census data also shows that the six counties where Target is closing stores had a higher percentage of remote workers compared to their states as a whole. In the markets where Target is closing stores, the shortages persist.

Persons: it’s, David Johnston, Connor O’Brien, ”, O’Brien, ” O’Brien, Johnston Organizations: CNN, Coresight Research, National Retail Federation, Economic, Group, McKinsey, Department of Commerce, of, Labor Locations: San Francisco Bay Area, Portland, Seattle, New York, it’s, O’Brien

☆ Free daycare for teachers' kids could help fix the crisis for all parents
▼ + stars: | 2023-10-12 | by ( Cork Gaines | ) www.businessinsider.com time to read: +6 min

The US is in a childcare crisis due to cost and lack of available teachers. The state now gives free tuition to the children of childcare teachers. However, one potential solution appears to be working, but only if governments are willing to step in and help. AdvertisementAdvertisementNPR found one example of a center offering free tuition to employees without state assistance in West Virginia. Many childcare centers may be forced to close.

Persons: —, Kentucky Daniel Light, Sinead, ZipRecruiter, Luis Alvarez, Clive R Organizations: Service, Census Bureau, Center for American Progress, Bluegrass State, NPR, Bureau of Labor Statistics, Economic, Institute, Walmart, View, National Association for, Education of Young Locations: Kentucky, West Virginia, NPR , Kentucky

☆ Forget Gen Zers and Taylor Swift concerts. It's boomers who are flashing their dollars.
▼ + stars: | 2023-10-10 | by ( Cork Gaines | ) www.businessinsider.com time to read: +5 min

The hope of avoiding a recession in the US heated up this year despite interest rates skyrocketing over the past 18 months. They also have more of a buffer than from the economic impact of inflation and higher interest rates than younger generations. AdvertisementAdvertisementWhile high interest rates and soaring prices for homes in recent years are terrible for young buyers, they are increasing the wealth of older Americans. Lance McMillan/Toronto Star via Getty ImagesMeanwhile, higher rates are helping older Americans grow their wealth in other ways. So older Americans who, in the past, would have been forced to sacrifice higher returns for safer investments can now get both.

Persons: boomers, —, Taylor Swift, Tim Robberts, Ed Yardeni, Yardeni, they'll, they've, Lance McMillan, Neil Howe, demographer, Howe Organizations: Boomers, Service, Census Bureau, Labor, Images, Yardeni Research, New, Toronto Star, Getty, Treasury Locations: New York

☆ Bad news, homeowners: 1 of these 3 things needs to happen for house prices to be considered affordable, says a real estate expert
▼ + stars: | 2023-10-10 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Andy Walden of ICE Mortgage Technology told CNBC there are 3 key ways to make US home prices affordable. AdvertisementAdvertisementThe US housing market is getting so expensive that it will take a lot for prices to be considered affordable. "Those are massive movements that we're talking about," Walden told CNBC. he told CNBC. If not, you're going to just see this stalemate play out in the market," Walden added.

Persons: Andy Walden, —, Walden, Fannie Mae's, That's, Zillow, Freddie Mac Organizations: ICE Mortgage Technology, CNBC, Service, Census Bureau

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