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☆ Lilly Ledbetter, who sued Goodyear for gender discrimination and was an equal pay activist, dies at 86
▼ + stars: | 2024-10-13 | by ( Steve Almasy | ) edition.cnn.com time to read: +4 min

CNN —Lilly Ledbetter, whose gender pay equity legal fight was the inspiration for the Fair Pay Act of 2009, has died at age 86, according to the team making a film about her life. In the 1990s, after 19 years of working for Goodyear, Ledbetter learned she had been making thousands of dollars less each month that other – male – managers. When Barack Obama became president the first bill he signed into law was the Lilly Ledbetter Fair Pay Act. “My heart is with Lilly Ledbetter and her loved ones as they mourn her passing,” he said. “Lilly Ledbetter fought tirelessly for equal pay for men and women.

Persons: CNN — Lilly Ledbetter, Ledbetter, AL.com, Goodyear, Barack Obama, Lilly, ”, “ I’ll, ” Obama, “ Lilly, “ Michelle, Chuck Schumer, Lilly Ledbetter, “, –, “ Lilly Ledbetter, Marc Benioff, ” Benioff, hasn’t, Chuy Garcia, Lilly’s, ” Garcia, Deborah Vagins, CNN’s Vanessa Yurkevich, Jeanne Sahadi Organizations: CNN, Goodyear, AFL, American Federation of Labor, Industrial, Congress, White, National Committee, Pay Equity Locations: backpay

☆ New Croc clogs mean matching togs for your dogs
▼ + stars: | 2024-10-12 | by ( Erika Tulfo | ) edition.cnn.com time to read: +3 min

CNN —From cowboy boots to fried chicken-scented charms, foam footwear maker Crocs has a reputation for quirk. This month, Crocs is putting its best paw forward: The quirky-but-comfortable footwear maker is releasing a line of clogs for dogs. Pet Clogs are part of a partnership with pet supply company and subscription service BARK as part of Crocs’ annual “Croctober” campaign, when it releases a fan-inspired product. And sales of the footwear brand soared in 2020, thanks to the rise of casual fashion during the pandemic. “In many instances these will be fun purchases which people will share on social media, helping to amplify the Crocs brand,” he said.

Persons: Crocs, Andrew Rees, “, Justin Bieber, Bad, ”, Neil Saunders, Lightning McQueen, Saunders Organizations: CNN, Labor Statistics, American Pet Products, Disney, DreamWorks Locations: Crocs

☆ A 32-year market vet shares 5 labor market indicators showing the US economy is barreling toward a recession — putting an overvalued stock market at risk for major declines
▼ + stars: | 2024-10-12 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

This is while S&P 500 valuations remain high, putting the market at risk for big declines. In a September note, Wolfenbarger shared the below chart from Bank of America showing 19 of 20 valuation measures they monitor as being overvalued. That means the S&P 500 would have to fall 60% just to return to the historical average. But it's still unclear how accurate the September jobs data is. Future revisions and further lackluster jobs data could resume investor fears that a downturn is a serious potential threat.

Persons: Jon Wolfenbarger, —, Merrill Lynch, St, Louis Fed, Wolfenbarger, September's, it's, David Rosenberg Organizations: Service, Federal Reserve, Bureau of Labor Statistics, JPMorgan, Conference Board, Global, Bank of America, Rosenberg Research, Nvidia Locations: St

☆ Ozempic-fueled slimming is blowing up the wedding dress industry
▼ + stars: | 2024-10-11 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

New York CNN —Price distortions and dysfunction are nothing new in the $73 billion wedding industry. For better or worse, many brides are using the drugs ahead of their big day, lured in by the promise of rapid weight loss. The right fitThe ideal time to buy a wedding dress is eight to 10 months before the event, according to wedding planning site the Knot, and some planners recommend buying a full year in advance in case of shipping delays. “Usually, the dress was ordered somewhere in the middle of those 50 pounds.”It’s hard to overstate how such drastic weight loss can complicate a wedding dress’ fit. “Weight loss has always been a top of priority.

Persons: CNN Business ’, Tami Luhby, Susan Ruddie, Dresser, Spring, That’s, they’re, ”, Myrna Lundberg, “, Lundberg, ” Lundberg, “ It’s, — it’s, you’re Organizations: CNN Business, New York CNN, FDA, Drug Administration, Bureau of Labor Statistics, CNN Locations: New York, China, Suez, United States

☆ A Black Workday employee sued the company after it sent police to his home for a 'wellness check'
▼ + stars: | 2024-10-11 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +9 min

A Black Workday employee sued the company, claiming race and disability discrimination. AdvertisementA Black Workday employee filed a race and disability discrimination lawsuit against his employer after it sent police to his house for a "wellness check" while he was being treated at a hospital and had requested medical leave. He also sent a completed leave request form and said he would file the required Family and Medical Leave Act paperwork soon. On October 20, 2022, while he was still at the hospital, Workday sent police to his house for a "wellness check." In May 2023, Hill went on approved disability and medical leave, although he said he was denied long-term disability leave.

Persons: Anthony Hill, —, Hill, Hill's, Cassie Lenning, Lenning, didn't, Anthony, George Floyd, Breonna Taylor Organizations: Service, Business, Department, Labor, Court, District of Columbia Locations: Northern, California's, California, Maryland, Montgomery County

☆ The job market may be strong, but tell that to anyone looking for work or feeling stuck
▼ + stars: | 2024-10-11 | by ( Madison Hoff | Juliana Kaplan | ) www.businessinsider.com time to read: +6 min

September's robust job growth signaled what looks like a booming labor market. In general, the job market is booming. There's some tension hiding in the dataOn its face, the labor market is looking rosy. Job openings ticked up in August but have been broadly declining since 2022, adding to the tough labor market picture for job seekers. Related storiesEven though the labor market has cooled, it's largely done so without mass layoffs or a full-blown recession.

Persons: —, Cory Stahle, they're, Liz Wilke, Elizabeth Renter, Matt Colyar, Claudia Sahm, Julie Su, Wilke, It's Organizations: Service, Workers, Moody's, New Century Advisors, mhoff

☆ Ron Insana: September consumer inflation report was a mere blip in a wider cooling trend
▼ + stars: | 2024-10-11 | by ( Ron Insana | ) www.cnbc.com time to read: +3 min

After the latest blast of consumer inflation data, traders are facing a conundrum around how they should interpret the monthly numbers. September's consumer price index report topped the Street's expectations, rising 0.1% from the month prior and increasing at a pace of 2.4% over the past 12 months. Still, the annual inflation rate was the lowest since February 2021. Relative to expectations, September's CPI number does not imply a reacceleration of inflation. Rather, the rate of consumer inflation continues to slow, albeit at a more modest pace than some had hoped for.

Persons: Dow Jones, Nonfarm payrolls, Austan Goolsbee, Ron Insana Organizations: of Labor Statistics, Bureau of Labor Statistics, BLS, Social Security, Dow Jones, Federal Reserve Bank of Chicago, CNBC Locations: U.S

☆ Another key US inflation gauge fell in September
▼ + stars: | 2024-10-11 | by ( Alicia Wallace | ) edition.cnn.com time to read: +2 min

CNN —Inflation for US producers slowed further in September, adding to hopes that prices aren’t getting jacked up before they get to consumers. The annual rate is running faster than the 1.6% gain economists expected, according to FactSet estimates; however, August’s rate was revised higher from the initial 1.7% estimate, so prices still fell in September. PPI is important because it’s often seen as a bellwether for the price increases consumers will wind up paying down the line. On Thursday, the Consumer Price Index — a measurement of average price changes for commonly purchased goods and services — cooled to 2.4%, its lowest rate since February 2021. As a result, Fed officials have now shifted from trying to contain inflation to trying to keep the job market healthy, the other half of their so-called dual mandate.

Persons: Price, that’s Organizations: CNN, of Labor Statistics, PPI, Federal Reserve

Social Security recipients can expect a 2.5% cost-of-living adjustment (COLA) increase in their payments starting in 2025 amid cooling inflation. On Thursday, the Bureau of Labor Statistics reported the 12-month consumer price index inflation rate hit 2.4% in September. The Social Security Administration calculates the annual COLA based on consumer price growth in the months of July, August and September. That, advocates say, is proof that seniors and other Social Security recipients are facing a declining standard of living. “Congress knows this problem is going on, but the gridlock can’t seem to solve anything, much less the third rail of politics that is Social Security,” said Shannon G. Benton, executive director of the Senior Citizens League, an advocacy group.

Persons: ”, Mary Johnson, Shannon G, Benton Organizations: of Labor Statistics, Social Security Administration, for Social Security, Data, Bureau of Labor Statistics, Social, Social Security, CPI, “, Senior Citizens League Locations: Washington

☆ Hurricanes are becoming more frequent, violent, and costly — plus they're hitting jobs and economic growth
▼ + stars: | 2024-10-10 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +6 min

Hurricane Milton is battering Florida days after Hurricane Helene wreaked havoc on several states. The two events are the latest sign that hurricanes are becoming more frequent, more ferocious, and more costly. They're also hitting employment and economic growth, at least in the short term. They estimated that a Category 5 storm could lower fourth-quarter annualized GDP growth by 0.14 percentage points, from a forecasted 2.3% to below 2.2%. "Rebuilding should provide a boost to economic activity in those affected regions in subsequent months, and potentially years," Sweet told BI, quoting from his recent note.

Persons: Milton, Hurricane Helene, Helene, They're, Adam Smith, Jefferies, Harvey, Ian, Smith, Michael Mann, Ryan Sweet, Sweet, Mann, Implan Organizations: Service, Hurricanes, National Oceanic, Atmospheric Administration, NOAA, University of Pennsylvania, Oxford Economics, Boeing, Milton, Potsdam Institute, Climate Impact Research Locations: Florida, North Carolina, Milton

☆ For Gen Zers tired of dating, applications for lavender marriages are open
▼ + stars: | 2024-10-10 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +9 min

Lavender marriages historically helped conceal sexual orientation, but Gen Zers are redefining it. To share the load, some are opening up applications for "lavender marriages" — something that was once the preserve of the LGBTQ+ community. AdvertisementBut lavender marriages have made a resurgence on social media in recent months among Gen Zers who are tired of being broke, single, and lonely. AdvertisementA modern-day lavender marriageTraditionally, a lavender marriage was just that — a legally binding marriage. They said lavender marriages were "looking more appealing by the day" and that the agreement might be what they "really need."

Persons: Lavender, —, Gen Zers, Robbie Scott, Edward Reese, Reese, Christine DeVore, Zers, Aleksandr Zubkov, Sofie Roos, Roos, Bumble, Cleopatra, millennials, Z, DeVore Organizations: Service, Birch Psychology, of Labor Statistics Locations: Washington

☆ Consumer price inflation slows in September
▼ + stars: | 2024-10-10 | by ( Alicia Wallace | ) edition.cnn.com time to read: +1 min

CNN —Price increases have slowed considerably from their peak two years ago and are now rising at a similar pace to inflation in 2017 and 2018, according to new inflation data released Thursday. The Consumer Price Index, which measures price changes across commonly purchased goods and services, was 2.4% for the 12 months ended in September, slowing from a 2.5% annual rate in August, according to the latest Bureau of Labor Statistics report. On a monthly basis, prices rose 0.2%, in line with the advance in August but faster than economists’ projections of 0.1%. A jump in food prices combined with ongoing shelter-related price-hikes pushed the overall CPI higher last month, BLS said. Still, economists say that inflation is headed in the right direction, because the factors that pushed prices higher during the pandemic era have largely faded while demand has slowed to more normal levels.

Persons: CNN — Price, – Organizations: CNN, Labor Statistics, BLS

☆ Inflation rate at 2.4% in September, topping expectations; jobless claims highest since August 2023
▼ + stars: | 2024-10-10 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Both readings were 0.1 percentage point above the Dow Jones consensus. The annual inflation rate was 0.1 percentage point lower than August. Excluding food and energy, core prices increased 0.3% on the month, putting the annual rate at 3.3%. Both core readings also were 0.1 percentage point above forecast. After a half percentage point reduction in September, the central bank is expected to continue cutting, though the pace and degree remain in question.

Persons: Justin Sullivan, Dow Jones Organizations: Labor Department, Dow, of Labor Statistics, Federal Reserve Locations: Greenbrae , California, U.S

☆ Here's the inflation breakdown for September 2024 — in one chart
▼ + stars: | 2024-10-10 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Prices fall at the gas pumpAnnual food inflation is 'fairly tame'Frederic J. "What happens there can really move the dial when it comes to overall inflation and core inflation." CPI shelter inflation — which includes rental prices and an equivalent measure for homeowners — has gradually declined but remained stubbornly high. In September, shelter inflation throttled back on a monthly basis, to 0.2% from 0.5% in August. "Shelter inflation is now definitively moderating," Zandi said.

Persons: David Paul Morris, It's, Mark Zandi, Zandi, Sarah House, Frederic J, Brown, —, That's, that's Organizations: Bloomberg, Getty, U.S . Bureau of Labor Statistics, Wells, Wells Fargo Economics, U.S . Federal Reserve, AFP, CPI Locations: Wells Fargo

This article is part of the Opinion series At the Brink,about the threat of nuclear weapons in an unstable world. It follows a decades-long freeze on designing, building or testing new nuclear weapons. The new buildings and cutting-edge machinery will eventually process the uranium needed to make the next generation of American nuclear weapons. Now there are an estimated 12,000 nuclear weapons in the world. It is undeniably true that the world is becoming more contentious, and nuclear weapons do deter our adversaries.

Persons: Melissa Durkee’s, Adalie, —, Warren Air Force Base Missiles Ellsworth Air Force Base Pantex Plant Minot Air Force Base Dyess Air Force Base Lockheed Martin Tinker, Todd Weeks, Weeks, you’re, Eric Helms, Helms, it’s, ”, aren’t, Robin Darnall, she’s, “, can’t, Northrop Grumman, Nunn, Walter Schweitzer, Mr, Schweitzer, Robert Oppenheimer, didn’t, Jay Coghlan, Charles McMillan, Greg Mello Organizations: U.S, Preston Veterans ’ Memorial, Dynamics, U.S . Navy, Preston Veterans ’, The Times Naval Base Kitsap Lawrence Livermore National Laboratory Northrop Grumman Nevada National Security, Air Force Base Malmstrom Air Force Base Sandia National Laboratories Los Alamos National Laboratory, Warren Air Force Base Missiles Ellsworth Air Force Base Pantex Plant Minot Air Force Base Dyess Air Force Base, Warren Air Force Base Missiles Ellsworth Air Force Base Pantex Plant Minot Air Force Base Dyess Air Force Base Lockheed Martin Tinker Air Force Base Offutt Air Force Base Kansas City National Security, Chaffee, Air Force Base Whiteman Air Force Base, Security, Laboratory Naval Submarine Base, Bay Northrop, Newport News Shipbuilding General Dynamics Electric, Submarines, Submarines Connecticut Rhode Island, Submarines Connecticut Rhode Island Virginia General Dynamics Electric, General Dynamics, Columbia, Engineering, Republican, Democratic, Office, General Dynamics Electric, Navy, NASCAR, Manhattan, Reactor, The Energy Department, National Nuclear Security Administration, Energy Department, National Nuclear Security, Fort, Missiles Wyoming North Dakota, Missiles Wyoming North Dakota Colorado Nebraska Montana America’s, The Air Force, Minuteman III, Air Force, Warren Air Force Base, Sentinel, Banner, Soviets, Air Force Base, McCurdy, Pentagon, Montana Farmers Union, Mexico South, Environmental Protection Agency, Los Alamos, Nuclear Watch, Alamos County, Atomic, Los Alamos Study, United States Locations: Preston, Conn, New England, America, Russia, China, North Korea, Iran, United States, Savannah, Manhattan, Washington, Submarines Connecticut, Submarines Connecticut Rhode Island Virginia, Narragansett, Rhode Island, Quonset, R.I, Groton, Soviet Union, Rhode Island , Connecticut, Virginia, Columbia, Tennessee, Oak Ridge, Tenn, Hiroshima, Nagasaki, Texas, Fort Knox, Missiles Wyoming North Dakota Colorado, —, Wyoming , Nebraska , Colorado , Montana, North Dakota, Plains, F.E, Wyoming, Nebraska, Banner County, Great Falls, Mont, Mexico, Mexico South Carolina, New Mexico, Los Alamos, N.M, Savannah River, S.C, Colorado, Rocky, Alamos, Nuclear Watch New Mexico, Santa Fe

☆ Hurricane season is set to scramble Americans' view of the economy before the election
▼ + stars: | 2024-10-10 | by ( Ayelet Sheffey | Madison Hoff | ) www.businessinsider.com time to read: +7 min

Additional disruptions from Hurricane Milton complicate the data collection for October's jobs report. To stimulate hiring, the Federal Reserve began cutting interest rates in September, and the jobs report will strongly inform its path forward. "I wouldn't expect these events to materially change how Americans view the economy before the election," DeAntonio said. For example, it noted in its release last week Hurricane Francine, which hit Louisiana in early September, "had no discernible effect" on the employment data it collected. Any effects from the hurricanes could lead to an October jobs report that shows a more pessimistic view of the economy than underlying conditions would suggest.

Persons: Helene, Milton, —, Hurricane, Hurricane Helene, Hurricane Milton, Dante DeAntonio, Kamala Harris, Joe Biden, Daniel Zhao, DeAntonio, Francine, Guy Berger Organizations: Service, Hurricanes, Southern, Labor Department, Federal Reserve, University of Michigan's, Department, Labor, of Labor, Labor Statistics, Boeing, Bureau of Labor Statistics, Employees, Glass Institute Locations: Florida, North Carolina, Hurricane, Louisiana

Pittsburgh CNN —In the years that Pennsylvania Senate candidate Dave McCormick led one of the world’s largest hedge funds, the firm bet millions of dollars against some of the state’s biggest and most iconic companies, financial filings show. For financial institutions, short positions can be lucrative. The fund shorted about four dozen companies from Pennsylvania during McCormick’s tenure, the records show. The fund did invest in stocks of some of the same Pennsylvania companies it shorted in other years, and overall, it reported spending more money buying stocks of Pennsylvania companies than shorting them in four of the five annual reports reviewed by CNN. She argued that the short positions Bridgewater took in Pennsylvania companies didn’t negatively impact employees because they represented a small fraction of each company’s overall value.

Persons: Dave McCormick, McCormick, “, ”, Kevin Boltz, Democratic Sen, Bob Casey –, Casey, Luke Sharrett, Elizabeth Gregory, Dave, ” Gregory, Bridgewater, ” McCormick wasn’t, Andrew Jennings, Dan Mallinson, “ They’re, ” Mallinson, “ That’s, ” Eric Talley, Talley, I’m, Justin Merriman, McCormick’s, Biden, Bernie Hall, ” Hall, Gregory, Michael M, Eric Hovde of, Tim Sheehy, Bernie Moreno, dogging McCormick, Mallinson Organizations: Pittsburgh CNN —, Bridgewater Associates, The Hershey Company, US Steel, CNN, US Department of Labor, Republican, Hershey, Democratic, Bridgewater, Bloomberg, Getty, McCormick’s, Bridgewater Equity Fund, Labor, Securities and Exchange Commission, Comcast, Penn National Gaming, Emory University School of Law, Penn State, Columbia University, Steel, Japan's, Nippon Steel, Keystone, Nippon, Pennsylvania, United Steelworkers, Senate, Penn Locations: Pennsylvania, Bridgewater, Harrisburg, Pittsburgh, China, Eric Hovde of Wisconsin, Montana, Ohio

☆ Kamala Harris' pitch to families struggling to care for both kids and aging parents: Medicare for in-home eldercare
▼ + stars: | 2024-10-08 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

AdvertisementVice President Kamala Harris wants to make it easier for families struggling to care for children and aging parents simultaneously. During a Tuesday interview on "The View," Harris proposed a first-ever Medicare benefit to cover in-home care needs for older adults. According to a recent survey from Genworth, a long-term care insurance company, the average cost of in-home care stood at $75,504 in 2023 — up from just over $68,000 in 2022. Along with Medicare at Home, the Harris campaign outlined a proposal to expand Medicare to include vision and hearing coverage. Still, it's unclear if Congress would approve Harris' proposal; President Joe Biden has previously proposed expanding eldercare, which ultimately did make it into his 2021 bipartisan infrastructure law.

Persons: Kamala Harris, —, Harris, it's, Donald Trump, JD Vance, Vance, Joe Biden, asheffey Organizations: Service, Bureau of Labor Statistics, Medicare, Bank of America, Home, Economic, of New Locations: Genworth, of New York

☆ Harris proposes expanding Medicare to cover long-term care at home
▼ + stars: | 2024-10-08 | by ( Annie Nova | ) www.cnbc.com time to read: +2 min

Vice President Kamala Harris announced a new proposal on Tuesday that would require Medicare to cover the costs of long-term care at home. Harris's universal in-home care proposal would require congressional action. The vice president pointed out that her plan could be especially beneficial to those caring for both their aging parents and their children. Medicare currently doesn't typically cover long-term care services at home. The cost of providing in-home long-term care services is staggering.

Persons: Kamala Harris, It's, Harris, Tricia Neuman, Neuman Organizations: Democratic, ABC, U.S . Bureau of Labor Statistics, Medicare, Medicaid Locations: New York, United States

☆ More Black and Latina women are leading unions — and transforming how they work
▼ + stars: | 2024-10-07 | by ( The Associated Press | ) www.nbcnews.com time to read: +8 min

Women make up roughly half of U.S. labor union membership, but representation in top level union leadership positions has lagged, even in female-dominated industries and particularly for women of color. Data from the U.S. Department of Labor shows that Black and Latina women experience a particularly wide gender pay gap. Juliana Yamada / APBlack and Latina women are driving labor union growth in the U.S. amid a decades-long decline in membership. In 2023, Black women’s union membership rate notched a slight bump from 10.3% to 10.5%, while Latinas went up from 8.5% to 8.8%. Momentum for Black and Latina women rising into labor union leadership has picked up in the last five years.

Persons: ”, Lane Windham, Gwen Mills, María Mata, Juliana Yamada, Black, Latinas, that’s, Liz Shuler, I’m, ” Shuler, Becky Pringle, Bonnie Castillo, Verrett, we’ve, ” Verrett, Emily Twarog, Lisa Lujano, Stacy Davis Gates, ” Pringle, Maria Mata, Mata, “, It’s, Keturah Johnson, Sara Nelson, Johnson, she’s, “ We’re, Coke, ” Johnson Organizations: Latina, Georgetown University, U.S . Department of Labor, AFL, National Education Association, National Nurses United, Service Employees International Union, Associated Press, University of Illinois, U.S . Bureau of Labor Statistics, Carpenters Union, Teachers, Chicago Teachers Union, CTU, United Teachers Los, ” Hospitality, AFA, CWA, United Airlines, Alaska Airlines, Frontier Locations: U.S, San Francisco, University of Illinois Urbana, Champaign, Chicago, United Teachers Los Angeles, Francisco

☆ A former investment banker who changed careers has 3 tips if you're considering switching industries
▼ + stars: | 2024-10-07 | by ( Jaures Yip | ) www.businessinsider.com time to read: +7 min

Angie Chen left investment banking to become a campaign marketer after feeling burned out. AdvertisementOne year after starting her investment banking job, Angie Chen received her bonus. "I used to feel so cool saying I worked in finance, in investment banking, I'm not going to lie," she told Business Insider. Chen, who made content about her investment banking career on TikTok, said that her social media inspired her to consider entering the marketing industry. Network with 'warmer contacts'While cold messaging on LinkedIn is a common strategy, Chen suggested trying to obtain "warmer contacts," or contacts suggested by mutual connections.

Persons: Angie Chen, Chen, —, I'm Organizations: Service, US Bureau of Labor Statistics

☆ The Fed is done cutting rates this year as the 'phantom recession' is finally dead, market vet says
▼ + stars: | 2024-10-07 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

The Fed is done cutting interest rates for the rest of the year, according to Ed Yardeni. Fears of a recession have been almost completely eliminated, the market vet said in a note. The no-show Fed-triggered recession will remain a no-show, especially now that the Fed has started to lower the FFR even though it isn't warranted by the performance of the economy," Yardeni wrote. I think it broadens out from the Magnificent Seven to the S&P 493," Yardeni added, speaking to Bloomberg on Monday. "We're going to have another quarter where I think earnings will go to a record-high in the third quarter."

Persons: Ed Yardeni, Yardeni, —, landers, they're Organizations: Service, Reserve, Yardeni, Bureau of Labor Statistics, Services, Institution of Supply Management, Atlanta Fed, Fed, Bloomberg, Investor

☆ A recession next year is now even less likely following the blowout jobs report, says Goldman Sachs
▼ + stars: | 2024-10-07 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Friday's knockout jobs report has squashed fears of an imminent recession. Goldman Sachs cut the chances of a recession in the next year to 15%, and other analysts cheered. AdvertisementRecession fears have weighed on Wall Street recently, but Friday's blowout jobs report has assuaged worries of an imminent economic downturn. "Friday's US labor report put paid to US recession fears," Rabobank's research team wrote. The latest jobs report has relieved some concerns about the economy, but also dashed hopes for another jumbo cut in November.

Persons: Goldman Sachs, —, Stocks, Goldman, Saxo, Kamala Harris Organizations: Service, Dow Jones, Labor Statistics, Federal Locations: There's

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. 30-Year Mortgage Rates TodayAverage 30-year mortgage rates are hovering near 6% today, according to Zillow data. 15-Year Mortgage Rates TodayAverage 15-year mortgage rates remain in the low 5% range, according to Zillow data. Average Refinance Mortgage Rates TodayRefinance rates have inched up after dropping in September. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data.

Persons: they're, they've, you'll, Freddie Mac, it's, They'll Organizations: of Labor Statistics, Federal, Zillow, Fed Locations: U.S, Chevron

☆ Good news: The ‘hard landing’ forecasters got it wrong
▼ + stars: | 2024-10-07 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

But as we wind down 2024, one thing appears clear: The naysayers on Team Hard Landing got it wrong. The “soft landing” versus “hard landing” metaphor — perhaps overused but visually handy — refers to the economy as an airplane and the Fed as the pilot. Pull the right levers at the right time, and you get a nice comfortable soft landing, with inflation cooling and the labor market thriving. He was far from alone in thinking that a soft landing was little more than a fantasy. “We should just drop the soft landing versus hard landing discourse and start talking about a robust expansion at mid-cycle,” Joe Brusuelas, chief economist at RSM, told Schwab Network in an interview.

Persons: CNN Business ’, everyone’s, ”, Sung Won Sohn, we’d, ” Aaron, “, there’s, Justin Wolfers, Bill Dudley, “ I’ve, Dudley, Larry Summers, they’re, Joe Brusuelas Organizations: CNN Business, New York CNN, Loyola Marymount University, Fed, . Upjohn Institute, Employment Research, ICYMI, Bureau of Labor Statistics —, Federal Reserve Bank of New, Bloomberg, RSM, Schwab Network Locations: New York, Federal Reserve Bank of New York

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