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☆ America is stuck in a greased-pig economy
▼ + stars: | 2023-09-19 | by ( Linette Lopez | ) www.businessinsider.com time to read: +10 min

At the same time that prices were cooling off, the rest of the economy seemed to be holding up. And consumers were so intent on spending money to have a good time that cities let Beyoncé dictate public transit. In this greased-pig economy, stability depends on how confident investors and policymakers are that they're close to catching the pig. Moving in a messIn the messy economy the pandemic left us, it's not easy to pinpoint exactly why inflation has been so stubborn. CPI inflation peaked at 9% in June 2022 and has been going down steadily since.

Persons: it's, Jerome Powell, Mike Konczal, Konczal, we've, Price, proclivity, that's, Taylor Swift, we'd, Charles Evans, Christine Lagarde, Morgan, Jamie Dimon, Roosevelt, —, you've, Justin Simon, Jasper Capital, Linette Lopez Organizations: Consumers, Federal, Roosevelt Institute, Fed, Chicago Fed, European Central Bank, Census Locations: American, America, Jasper

☆ The Greased-Pig Economy: Higher Inflation, Stock Market Crash Possible
▼ + stars: | 2023-09-19 | by ( Linette Lopez | ) www.businessinsider.com time to read: +10 min

At the same time that prices were cooling off, the rest of the economy seemed to be holding up. In this greased-pig economy, stability depends on how confident investors and policymakers are that they're close to catching the pig. Moving in a messIn the messy economy the pandemic left us, it's not easy to pinpoint exactly why inflation has been so stubborn. CPI inflation peaked at 9% in June 2022 and has been going down steadily since. But with inflation still above the Fed's goal, it's clear we need to recalibrate some on the demand side still.

☆ Here are 6 key economic signals for markets to follow as the Fed gets ready to make its next policy move
▼ + stars: | 2023-09-19 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

There are six key economic indicators for markets to gauge the health of the US economy. The US is likely headed for a mild recession, according to one chief investment officer. Markets are currently pricing in a 99% chance the Fed will choose to keep interest rates unchanged, according to the CME FedWatch tool. Small business optimism is waningSmall business optimism slumped over the past month to 91.3, down 0.6 points from July's reading. But real wages of Americans have actually fallen 0.5% over the past month, according to the Bureau of Labor Statistics, which could spell trouble for the US consumer.

Persons: Brent Schutte, Schutte Organizations: Service, Federal Reserve, Fed, Northwestern Mutual Wealth Management, Cleveland Fed, Bureau of Labor Statistics, San Francisco Fed, University of Michigan's Locations: Wall, Silicon

☆ Home building sank in August amid crushing mortgage rates
▼ + stars: | 2023-09-19 | by ( Anna Bahney | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —US home building sank in August, dropping 11.3% from July levels, as mortgage rates stayed elevated amid lingering inflation. After rising in July, new home starts dropped in August as mortgage rates climbed back to their late 2022 peak. “The combination of high interest rates, high pricing, and limited inventory has continued to plague the housing market,” said Kelly Mangold of RCLCO Real Estate Consulting. “In many cases, even repurchasing their same home at today’s mortgage rates would be out of a typical buyer’s price range.”More than 90% of homeowners have a mortgage rate under 6% and many have rates closer to 2% or 3%. Home builder confidence was lower in September, according to a separate report from the National Association of Home Builders / Wells Fargo Housing Market Index released Monday.

Persons: ”, Kelly Mangold, Mangold, “ Organizations: DC CNN, Housing, Census, Real Estate Consulting, “, National Association of Home Builders Locations: Washington, Wells Fargo

Marco Vdm | E+ | Getty ImagesThe wage gap costs women in the U.S. about $1.6 trillion a year, a new report finds. Women earned 78 cents for every dollar that men made in 2022, according to National Partnership for Women and Families. Forty-two percent of the wage gap is the result of occupational segregation, which was exacerbated by the pandemic, the U.S. Department of Labor has found. To that point, half of U.S. adults said women being treated differently by employers contributes to the pay gap, the Pew Research Center found. That pay scale worsens for each major racial or ethnic group in the country, with white female workers paid 74 cents to the dollar; Black female workers, 66 cents; and Latina female workers, 52 cents.

Persons: Marco Vdm, We've, Jocelyn Frye, Mandi Woodruff, Santos, Frye, Woodruff, Jose Luis Pelaez Organizations: National Partnership for Women, U.S . Census Bureau, U.S . Department of Labor, Pew Research Center, Latina, MandiMoney, Jose Luis Pelaez Inc, Getty Locations: U.S

☆ These are the top 10 states for young workers to find jobs, live affordably and have fun
▼ + stars: | 2023-09-17 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +3 min

And according to one report, Massachusetts is the best state that offers young workers plenty of jobs, affordable living and fun amenities. The New England state ranks No. These are the top 10 states for young workers to find jobs, live affordably and have fun, according to Scholaroo:Massachusetts Rhode Island New Hampshire Maryland Connecticut Vermont Washington Minnesota New Jersey OregonMassachusetts, in particular, ranks highly for jobs, health and workplace diversity factors, but trails in its affordability. It also ranks highly safety, workplace diversity and leisure, but scores lowest on the jobs front. The Scholaroo analysis also ranks states by subcategories across jobs, finances and lifestyle aspects.

Organizations: U.S . Labor Department, Census, Scholaroo : Massachusetts Rhode, Scholaroo : Massachusetts Rhode Island New Hampshire Maryland Connecticut Vermont, Rhode, South :, CNBC Locations: Massachusetts, New England, Scholaroo, Scholaroo : Massachusetts, Scholaroo : Massachusetts Rhode Island New Hampshire Maryland, Scholaroo : Massachusetts Rhode Island New Hampshire Maryland Connecticut Vermont Washington Minnesota New Jersey Oregon Massachusetts, New York, California, New Hampshire, U.S, North Dakota, Hawaii, South, South : West Virginia , Mississippi , Alabama, Louisiana, Oklahoma

They don't split their $1,900 monthly rent 50-50 but instead according to their income levels, since it is their biggest expense. Talk about money like you do the dishesJust as cleaning the kitchen and vacuuming need to be done on a regular basis, so do certain financial tasks, Whitman said. "Include financial management as one of the chores when making a list of who does what," Whitman said. Whitman also suggests regular chats about your financial goals, big and small. Couples might have "money dates" once a month to discuss their financial anxieties and aspirations, said Daigle, a member of the CNBC FA Council.

Persons: Wynne Whitman, Whitman, Hailey Pinto, Pinto, Sophia Bera Daigle, Daigle Organizations: Pew Research, Gen, CNBC FA Locations: Connecticut, Charlotte , North Carolina, Denver, Austin , Texas

☆ Homebuyers struggling to find a house while inventory hovers around its lowest point in years should look at these 13 large metro areas kick-starting new homebuilding fastest
▼ + stars: | 2023-09-16 | by ( Mark Reeth | ) www.businessinsider.com time to read: +4 min

Meanwhile, housing starts were actually up 5.9% in July, but filings for housing permits fell 13% to 1,442,000. In the first half of this year, new housing permits plummeted 17.5% compared to the first half of 2022. "In the first half of 2022, an impressive 30 states saw year-over-year increases in their numbers of permits. All told, of the 384 metro areas that Point2 tracks data from, a mere 90 saw the number of housing permits increase year over year. Among those 384 metro areas, 56 fall under the large category, meaning they have populations of 1 million or more.

Persons: Louis Fed, Point2, Andra Hopulele, Hopulele Organizations: National Association of Realtors Locations: West

☆ These are the U.S. states with the highest property taxes—New York and California aren't in the top 10
▼ + stars: | 2023-09-16 | by ( Mike Winters | ) www.cnbc.com time to read: 1 min

Property taxes can vary by nearly $8,000 for the same-priced home, depending on where you live in the U.S., a new study reveals. New Jersey's effective tax rate is 2.23%, the highest in all 50 states and the District of Columbia, according to Tax Foundation's analysis of the Census Bureau's most recent data. Hawaii is the lowest-taxed state, with an effective tax rate of 0.32%. For a home that's worth the U.S. median of $416,100, that means New Jersey homeowners would pay $9,279 in property taxes. In Hawaii, the tax bill for the same home would only be $1,332.

Organizations: District of Columbia Locations: U.S, Hawaii, Jersey

☆ The American nuclear family is officially over
▼ + stars: | 2023-09-16 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

The American nuclear family is officially dead, according to a new analysis from the Pew Research Center — even if some Americans haven't accepted it. In 1970, nearly 70% of American adults ages 25 to 49 were living with a spouse and at least one child. "Family living arrangements are becoming more and more diverse in their composition," Carolina Aragão, one of the authors of the Pew report, told Insider. While married adults with kids are still the most common family arrangement, "they are far less common than they were in the past." AdvertisementAdvertisementBut even as the American family changes, it doesn't mean Americans feel good about it.

Persons: haven't, that's, they're, Z, who's, That's, Aragão, Pew Organizations: Pew Research, Service, Pew Research Center, Pew, Census Bureau, Black, Hispanic Locations: Wall, Silicon, Carolina, United States

☆ Many older Americans who will need long-term care won't be able to afford insurance
▼ + stars: | 2023-09-16 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +6 min

“Living a long life is something that many of us want and could get,” said Jesse Slome, executive director of the American Association for Long-Term Care Insurance, an insurance education group. “But when we live a long life, the chances of us needing long-term care increase exponentially. Insurance is an option for someLong-term care insurance, a very niche and complex market, has traditionally been an option for those able to buy policies, but it is far from the norm. “The population of seniors who buy long-term care insurance constitutes a segment of the population who are healthier and their longevity is likely different than the nation as a whole,” said Slome. “Our concern is that … it will get even more expensive for those who have had the modest resources to access long-term care insurance to be able to afford it,” she noted.

Persons: ”, Jesse Slome, Jason Hopper, Ramsey Alwin Organizations: CNN, American Association for, Care Insurance, of Health, Human Services, Insurance, HHS, National Council, Aging, Washington Locations: United States, American, Washington, Pennsylvania, California, New York

CNN —Six people who identified themselves as members of a religious group called the ‘Soldiers of Christ’ have been arrested in connection to the death of a South Korean woman who was beaten and starved in Georgia, authorities said. The South Korean consulate in Atlanta declined to comment on the case when contacted by CNN. This photo of a crime scene, with areas of blood redacted, was released by Gwinnett County Police. Gwinnett County PoliceOne of the suspects is a South Korean citizen visiting on a visa, authorities said, while the others are American citizens. Authorities did not release the name of the victim, pending notification of her death to her family in South Korea.

Persons: Christ ’, malnourishment, Eric Hyun, Hyun, Christ ”, Gawom Lee, Joonho Lee, Hyunji Lee, Juoonhyum Lee Organizations: CNN, Gwinnett County Police Department, Census Bureau, Gwinnett County Police Law, Authorities, Police, South, Gwinnett County Police Locations: Korean, Georgia, Jeju, Duluth, Atlanta, United States, South Korea, Duluth , Georgia, Gwinnett, South Korean

☆ Visual Highlights From the 'More Than Words' Project
▼ + stars: | 2023-09-15 | by ( Wilson Liévano | ) www.usnews.com time to read: +13 min

Many of those who only speak Spanish are frustrated that language barriers get in the way of public safety information. Cabrera works long hours and would like to find community and services for her 79-year-old mother, but language barriers holds them back. (Emree Weaver / Yakima Herald-Republic)YAKIMA, WASHINGTON – In Yakima County, which is 52% Hispanic and largely agricultural, local health care systems have had to adapt to the needs of the population. (Emree Weaver / Yakima Herald-Republic) Rigo Zepeda, an advanced registered nurse practitioner, demonstrates how providers use a video remote interpreting device at MultiCare Yakima Memorial, in Yakima, Washington. (Emree Weaver / Yakima Herald-Republic)

Persons: Victoria Franco, Harika Maddala, Catchlight Local Salvador Reyna Madryc, Luis Magaña, Ignacio Yepez, Rosa Cardenas, Rosa Trevizo, Doug Kuehne’s, Gerdrado Serrano, Griselda Juarez, Juarez, Gabriela Martínez, Esmirna Jiménez, Jimenez, Pedro Ferreras's, Pedro Ferreras’s, ’, “, ” Jiménez, Gabriela Lozada, Flerida Moriel, Mirla Cabrera, Cabrera, Flerida, Moriel, ”, ” Cabrera, don’t, They’re, NHPR, Santiago Ochoa, Emree Weaver, YAKIMA , WASHINGTON –, Granger, Bertha “ Lily ” Gonzalez, Maria Guadalupe Diaz, Diaz, Lisaola, Rigo, Angelina Garcia, Bertha Lopez Organizations: America, . News, Services, Victoria, Catchlight Local, Flea, Stockton, News, Loel, Spanish, New, American Community Survey, Social, Derry, New Hampshire Public, Flerida, HAMPSHIRE, Immigration, New Hampshire Public Radio, Facebook, Yakima Herald, Yakima Herald -, Yakima Herald - Republic Workers, Census, Memorial Cornerstone Medicine, Memorial Locations: Stockton Text, Bay, Bay City, Stockton , California, STOCKTON , CALIFORNIA, San Joaquin County, Spanish, Lodi , California, Weston, United States, Dominican Republic, Harrisburg , Pennsylvania, WITF, HARRISBURG , PENNSYLVANIA, Pennsylvania, New American, Carlisle, Harrisburg, Allison Hill, NHPR, MANCHESTER, Manchester, New Hampshire, Nashua, New, Peru, Yakima, Yakima Herald - Republic, Cowiche , Washington, YAKIMA , WASHINGTON, Yakima County, Toppenish, Wapato, Republic, Yakima , Washington, Yakima County’s

☆ 52% of Hispanic and Latina women investors are more confident about their money than 5 years ago
▼ + stars: | 2023-09-15 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +3 min

Still, there are a number of financial disparities between Hispanic and Latino Americans and their white peers, especially Latina women. Hispanic women earn a median annual salary of $39,511, compared with a median of $55,330 among white women and $61,740 for white men, according to Labor Department data. But Latina women are moving in the right direction: 52% of Hispanic and Latina investors say they feel more knowledgeable about their investments and retirement planning than they did five years ago according to J.P. Morgan Wealth Management's 2023 Diverse Investor Study. That number is around 81% for Hispanic and Latina investors, the survey found. What sets Latina investors apart

Persons: Morgan, Veronica Navarro, Navarro, that's Organizations: Labor Department, Consumer Finances, Morgan Wealth Advisors, CNBC Locations: United States, Latina, J.P

☆ The Census Exposes Bidenomics
▼ + stars: | 2023-09-14 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Wonder Land: Whether it's the migrant crisis, gender identity, shoplifting, student loans or decriminalizing federal laws on cannabis possession, Republican presidential candidates should not stop talking about the culture. Images: Bloomberg News/AFP/Getty Images Composite: Mark KellyYou almost have to admire the brass of the Biden White House. The Census Bureau reported Tuesday that Americans are poorer under Bidenomics, and the President quickly changed the subject to blame Republicans for rising child poverty on his watch. As usual, too many in the press corps bought the spin.

Persons: Mark Kelly You Organizations: Republican, Bloomberg, Getty, Biden White House, Census Bureau

☆ 5 million kids fell into poverty last year after Congress cut off Biden's monthly checks to parents
▼ + stars: | 2023-09-13 | by ( Madison Hoff | ) www.businessinsider.com time to read: +5 min

That's after Congress ended monthly checks to parents as part of the expanded child tax credit. The poverty rate for all people also increased from where it stood in 2021. Refundable tax credits like payments from the expanded child tax credit helped keep millions of Americans out of poverty in 2021. The SPM child poverty rate of those under 18 soared from the record low, starting with data from 2009, of 5.2% in 2021 to 12.4% in 2022. "The child poverty rate in 2022 would have been about 8.4 percent rather than 12.4 percent."

Persons: That's, —, Melissa Boteach, Institute's Elise Gould, Ismael Cid, Martinez, Biden Organizations: Service, Census Bureau, Child Tax, CTC, National Women's Law, Social Security, SNAP, Economic Advisers, CEA, Budget Locations: That's, Wall, Silicon

☆ 3 cities with opportunities 'hiding in plain sight': A housing expert says it's probably a good time to buy the dip in these markets as prices plummet while populations and wages surge
▼ + stars: | 2023-09-13 | by ( William Edwards | ) www.businessinsider.com time to read: +3 min

In a recent video, he highlighted three cities where prices are still a decent way off their highs despite favorable fundamentals like wage growth and population growth. When it comes to population growth, Austin grew by 2.7% between 2021 and 2022, according to Census Bureau data. The list incorporates cities seeing economic and population growth. Both wage and population growth are theoretically supportive of home prices as they support demand. "This means all three markets SHOULD be primed for home prices to increase, BUT sellers are still dropping prices.

Persons: Dave Meyer, Shutterstock, Meyer, there's, Austin, Phoenix, bode Organizations: National Association of Realtors Locations: Phoenix , Arizona, Austin , Texas, Provo , Utah, Austin, Provo, West, Phoenix, Utah County

☆ Americans hate the economy because pay hasn't kept up with inflation — and it could stay that way until next year
▼ + stars: | 2023-09-13 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

One popular explanation, inflation, has fallen in recent months. But if inflation is the winning explanation, why do Americans still hate the economy? In May, year-over-year wage growth outpaced inflation for the first time in two years, and it continues to do so. Inflation, however, or specifically the gap between inflation and wage growth, is far from the only explanation that has been proposed for Americans' apparent pessimism about the economy. "If a recession were to begin at some point next year, joblessness would likely rise, weighing on inflation but wage growth as well."

Persons: they've, they're, Sarah Foster, Joe Biden's, Foster, joblessness Organizations: Service, University of Michigan's, of Labor Statistics, Journal Locations: Wall, Silicon, Quinnipiac

☆ Child poverty more than doubled in U.S. after expanded tax credits, stimulus checks ended
▼ + stars: | 2023-09-12 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Child poverty more than doubled in the U.S. last year after financial assistance that supported families during the earlier days of the Covid pandemic expired, the Census Bureau said Tuesday. The child poverty rate surged to 12.4% in 2022, up from 5.2% in the year prior, according to the bureau's data. The U.S. had made historic gains in fighting child poverty during the pandemic due in large part to the expanded tax credits. The child poverty rate fell 46% in 2021 to the lowest level on record, according to Census data released last year. The overall poverty rate also spiked by nearly 5%, the first increase since 2010, according to the data.

Persons: Carl, Norma Millers, Liana Fox Organizations: Norma Millers Childrens, Census, U.S Locations: Frederick, U.S

The expansion of the child tax credit expired at the end of 2021, and other pandemic-related benefits have expired within the past year. As a result, the supplemental poverty measure rate for children jumped 7.2 percentage points to 12.4% in 2022, according to the Census Bureau. “We did see the child tax credit had a substantial decrease in child poverty." In a statement, President Joe Biden blamed congressional Republicans for failing to extend the enhanced child tax credit and vowed to restore it. The supplemental poverty measure includes both cash and noncash benefits and subtracts necessary expenses such as taxes and medical expenses.

Persons: ” Liana Fox, “, Joe Biden, ”, Biden, Mike Schneider, X Organizations: U.S . Census, Black, Census, Democrat Locations: United States, U.S

But it's not because of a sudden flood of moving trucks into Atlanta, New Orleans and San Francisco. The Atlanta urban area had its population adjusted to 5.1 million residents from 4.9 million residents. The population of the New Orleans urban area grew to 963,212 residents from 914,531. The additional 48,681 residents had been mistakenly assigned to the Laplace-Lutcher-Gramercy, Louisiana, urban area, which was supposed to be deleted following a merger with the New Orleans urban area. The San Francisco-Oakland urban area's population was corrected to 3.5 million residents from 3.2 million.

Persons: Rather, Mike Schneider Organizations: U.S, U.S ., New, San, Twitter Locations: Atlanta , New Orleans, San Francisco, U.S, Atlanta, Gainesville , Georgia, New Orleans, Gramercy , Louisiana, Oakland, San Rafael, Novato , California

“All our hard work burned,” Rosales told The Associated Press in an interview conducted in Ilocano, her native language. “There is nothing left.”The disaster has prompted fears about what will become of Lahaina’s community and character as it rebuilds. As their descendants and successive generations of immigrants have settled, they have become deeply ingrained in the community’s culture. He has been counseling groups of Filipinos staying in hotels, even celebrating Mass in a hotel reception room. Since then, she has become a community advocate and is president of Binhi at Ani, “Seed and Harvest,” which operates Maui’s only Filipino community center.

Persons: Elsie Rosales, Rosales, Maui’s, ” Rosales, Rosales won’t, Gemma Weinstein, ”, Rick Nava, Evangeline Balintona, ” Balintona, —, “, Efren Tomas, Christ, King, Alicia Kalepa, ” Gilbert Keith, Agaran, won’t, Keith, Agcolicol, Binhi, ” Rosales ’, don’t, Bobby Caina Calvan Organizations: —, Associated Press, Census Locations: LAHAINA, Hawaii, Lahaina, oceanfront, Maui, Philippines, U.S, Honolulu, Kahana, Ilocos Norte, Kahului, Lahaina won’t, Las Vegas, Ani

☆ Opinion | The Unfinished Pursuit of a Better Poverty Measure
▼ + stars: | 2023-09-11 | by ( Peter Coy | ) www.nytimes.com time to read: +2 min

It’s widely agreed that the official poverty measure — the one that showed an uptick in poverty last year — is outdated and inaccurate. The supplemental poverty measure is better, but it has problems of its own. It’s sometimes described as a “quasi” relative measure, which makes me queasy. An absolute measure of poverty sets a threshold for what constitutes poverty and sticks with it year after year, adjusting only for inflation. A relative measure sets the poverty threshold in relation to how other people live — for instance, as a percentage of the median income — so poverty tends to get redefined upward over time.

Persons: Adam Smith Organizations: Bureau, Scottish, Nations Locations: Europe

☆ How to teach kids to befriend a child with a disability
▼ + stars: | 2023-09-10 | by ( Jaclyn Greenberg | ) edition.cnn.com time to read: +6 min

Trae has a genetic disorder and physical differences, and he doesn’t always approach other kids, his mother, Jackie Bruns, told me. “It can be hard for kids with a disability to approach other kids. Kids may share interesting and fun facts about their disability, said Michelle Hu, who grew up wearing hearing aids and now works as a pediatric audiologist. And explaining that some people may have different social cues or ways of engaging can help them connect with students. “Teach your kids to look around the room or playground for kids who are not engaged and invite them to join,” Hootman said.

Persons: Trae Bruns, Trae, Jackie Bruns, ”, Bruns, ” Dr, Caroline Mendel, “, ” Mendel, it’s, ” Bruns, Michelle Hu, aren't, ” Hu, doesn’t, Hu, Gawain Hootman, isn’t, Ramsey Hootman, ” Hootman, Jaclyn Greenberg Organizations: CNN, Pew Research, Child Mind, SDI, The New York Times, Wired Locations: Troy , Illinois, United States, New York City, Bay, California

☆ 10 college majors to check out if you want to make a lot of money—without becoming an engineer
▼ + stars: | 2023-09-09 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +1 min

If you're looking for a high-paying college major, engineering degrees, including electrical and computer engineering, consistently rank as some of the options that can earn you the most money. You shouldn't force yourself into any major — or career path — you're not interested in just for the money. Broader science, technology and math majors earn a decent amount, too. Pharmacy and computer science are the best-paying nonengineering college degrees, according to a recent Bankrate analysis, which found those degree holders earn median salaries of $100,000 a year. Here are the 10 highest-paying college degrees that aren't engineering:

Organizations: American, Survey, U.S . Census, Bankrate Locations: U.S

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