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☆ Premarket stocks: Betting on a market bounce? You may be waiting a while
▼ + stars: | 2022-12-12 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —‘Tis the season for Wall Street strategists to pack their clients’ inboxes with market predictions for 2023. Market analysts aren’t alone. “US equity returns will be driven by earnings against a backdrop characterized by elevated market volatility,” write JPMorgan analysts. The effort was initially touted as a “Big Bang 2.0” — a nod to the rapid deregulation of UK financial markets under former Prime Minister Margaret Thatcher in 1986. The changes are a bid to maintain London’s role as a global financial hub after Brexit, which, alongside political turmoil, has boosted uncertainty for companies thinking about where to invest.

☆ Child tax credit: Democratic lawmakers make last-ditch effort to enhance benefit
▼ + stars: | 2022-12-11 | by ( Tami Luhby | ) edition.cnn.com time to read: +6 min

CNN —Buoyed by the steep drop in child poverty last year, a group of Democratic lawmakers and progressive advocates are pushing hard to restore at least part of the enhanced child tax credit that stabilized many families’ finances in 2021. GOP Sen. Mitt Romney of Utah, a longtime advocate of the child tax credit, crafted an enhanced version earlier this year, along with fellow Republican Sens. The 2021 enhancementThe American Rescue Plan made three significant changes to the child tax credit for 2021. A reduction in child povertyThe expansion lifted 2.1 million children out of poverty in 2021, according to the Census Bureau. It helped drive child poverty to 5.2%, a drop of 46%, according to the bureau’s Supplemental Poverty Measure.

☆ Americans’ wealth slips further after massive loss in the spring
▼ + stars: | 2022-12-09 | by ( Tami Luhby | ) edition.cnn.com time to read: 1 min

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☆ Railroad workers aren't the only Americans without paid sick leave
▼ + stars: | 2022-12-01 | by ( Tami Luhby | ) edition.cnn.com time to read: +6 min

The US does not have a national standard on paid sick leave, a rarity among industrialized nations. “The most disempowered workers – who are low-wage workers – don’t have an opportunity to demand paid sick leave from their employers,” he said. Railroad workers’ battleWhile the vast majority of union members have paid sick days, the freight railroad workers do not. Meanwhile, a growing number of states, cities and counties have been enacting paid sick leave laws in recent years. Advocates see the railroad workers’ battle as an opportunity to renew interest in expanding the availability of paid sick leave.

☆ Employers kept hiking workers’ wages last quarter, but they did not keep up with inflation
▼ + stars: | 2022-10-28 | by ( Tami Luhby | ) edition.cnn.com time to read: +3 min

New York CNN Business —Employers continued hiking wages to attract workers and hold on to existing staff during the third quarter. Wages and salaries for civilian workers increased by 1.3% in the third quarter and 5.1% over the year ending in September, according to the Bureau of Labor Statistics’ quarterly Employment Cost Index released Friday. This reflects a slight slowdown from the second quarter, when wages and salaries increased 1.4% quarter over quarter and 5.3% for the year ending in June. Overall, employers’ compensation costs, which includes both pay and benefits, increased by 1.2% in the third quarter, before accounting for inflation. The Employment Cost Index tracks changes in employers’ labor costs for wages and salaries, along with health, retirement and other benefits.

☆ 3 things that will help reduce the sting of high inflation
▼ + stars: | 2022-10-21 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +2 min

There’s really nothing nice to say about inflation when it comes to your bottom line. And it’s hard on your paycheck, because chances are your last raise did not keep pace with headline inflation, which the latest reading puts at 8.2%. But that same high inflation has led to a couple of changes that might offer you a little relief. Starting next year, your paycheck could be a little bigger thanks to inflation adjustments that the Internal Revenue Service will make to 2023 federal income tax brackets and other provisions. That’s $2,000 – or roughly 9.8% – more than the current $20,500 federal contribution limit, a direct result of higher inflation.

☆ Americans have largely avoided health care inflation so far – but that’s about to change
▼ + stars: | 2022-10-13 | by ( Tami Luhby | ) edition.cnn.com time to read: +6 min

About 155 million Americans have work-based health insurance, the largest source of coverage by far, according to the Kaiser Family Foundation. Delayed impact of inflation on health careWhile the cost of gas, food and other essentials can change quickly based on inflation and market conditions, health care operates differently. In fact, health care costs are bucking their own typical trend. Workers are projected to shell out an average of 2.6% more for health care this year, compared to 2021, Aon calculated. Increases expected to continueNext year will only be the start of an extended period of increased health care costs, experts said.

☆ Social Security recipients get 8.7% cost-of-living increase, the highest in more than 40 years
▼ + stars: | 2022-10-13 | by ( Tami Luhby | ) edition.cnn.com time to read: 1 min

New York CNN Business —Social Security recipients will receive an annual cost-of-living adjustment of 8.7% next year, the largest increase since 1981, the Social Security Administration announced Thursday. The spike will boost retirees’ monthly payments by $146 to an estimated average of $1,827 for 2023. The hefty increase, which follows a 5.9% adjustment for this year, is aimed at helping Social Security’s roughly 70 million recipients contend with the high inflation that’s been plaguing the US since last year. It’s too early to say,” said Mary Johnson, Social Security and Medicare policy analyst at The Senior Citizens League, an advocacy group. “It depends on what inflation is going to do from October onwards.”This story is breaking and will be updated.

☆ Thought you paid a lot to heat your home last year? Wait until this winter
▼ + stars: | 2022-09-24 | by ( Tami Luhby | ) edition.cnn.com time to read: +9 min

The couple is now paying $472 a month on the budget plan, up from around $290 a month last winter. Jason Bell may have to take on a second part-time job, on top of his full-time position, to afford his heating bills this winter. Those who heat with natural gas are facing the largest spike, with their cost for the winter heating season expected to soar 34.3% to $952, the association said. The tab for heating oil is expected to jump 12.8% to $2,115. Oil prices, which spiked last winter after Russia invaded Ukraine in February, are declining but are still higher than they were last year.

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