Economy 2021-04-30T16:36:15Z
house for sale

Millennials are getting screwed again by their 2nd housing crisis in 12 years

Millennials are finally buying homes, but they're facing a historic housing shortage. It's their latest economic bad luck since the Great Recession.
Economy 2021-07-15T20:24:18Z
walmart shopper grocery

America’s CEOs couldn’t say it any louder: We’re about to charge you more

Inflation increased 0.9% from May to June. In July, the CEOs of Pepsi, Conagra, and other consumer-packaged goods firms said price hikes are coming.
Economy 2021-07-15T18:21:07Z
Jamie Dimon, CEO of JPMorgan Chase, speaks about investing in Detroit during a panel discussion at the Kennedy School of Government at Harvard University in Cambridge, Massachusetts, U.S., April 11, 2018.

The CEOs of major companies are increasingly talking about inflation. Here's what has 3 of them worried.

Goods and services prices are rising, and while some economists say inflation is temporary, execs at BlackRock, JPM and Pepsi warn of lasting effects.
Economy 2021-07-15T18:02:59Z

Economists are divided about how bad inflation is going to get. Here are the 14 loudest voices on both sides of the issue.

The inflation debate continues to intensify as Biden proposes additional infrastructure spending after signing a $1.9 trillion stimulus bill into law.
Economy 2021-07-15T17:46:48Z

Say goodbye to hotel turndown and these other services people simply don't want to pay for anymore

Daily hotel housekeeping is a thing of the past. Hilton cut it this week, and it's one of several things the economy of 2021 is leaving behind.
Economy 2021-07-15T16:05:50Z

3 reasons teens are cashing in on a hot jobs summer

"As some shortages remain in the labor market, teens are able to come in and have a little more bargaining power," economist Luke Pardue said.
Economy 2021-07-15T15:20:45Z

Why your favorite restaurant is closing early and charging more this summer

"The worst of COVID for the restaurant business is right now," said sommelier and operator of five restaurants Christopher Bates.
Economy 2021-07-15T14:51:38Z

The government is sending up to $300 monthly checks to families with kids starting today. Democrats want to make it permanent as a new form of Social Security.

The Biden stimulus benefit is the US's inaugural version of guaranteed income geared to children. Millions could get direct payments every month.
Economy 2021-07-15T12:42:36Z

The number of Americans filing for unemployment resumed its downward trend, falling to 360,000

It's another sign of a steadily recovering labor market. Continuing claims, or the number of Americans receiving benefits, fell to 3.24 million.
Markets 2021-07-15T11:34:21Z

Elizabeth Warren wants to investigate Warren Buffett and other billionaires' tax practices — and probe the banks and wealth managers behind them

The senator wants a crackdown after ProPublica reported Jeff Bezos and Elon Musk paid zero federal income tax in some years.
Premium Finance 2021-07-14T21:32:57Z

Why the global supply-chain crisis is also terrible for Wall Street lenders

Companies are borrowing less, and it's weighing on loan growth as the nation's biggest banks report earnings.
Economy 2021-07-14T20:46:30Z

Use this Goldman Sachs data to convince your boss you should work from home and travel less for meetings

Goldman Sachs found that US worker productivity increased by 3% per hour during the pandemic, especially in industries with remote work.
Real Estate 2021-07-14T20:00:08Z

The average person earning minimum wage has to work 79 hours a week to afford a one-bedroom apartment

You'd have to earn $20.40 an hour to afford the average modestly priced one-bedroom rental and $24.90 an hour for a 2-bedroom apartment.
Real Estate 2021-07-14T19:42:31Z

Bay Area renters have to make between $31 and $68 an hour in order to afford an apartment

Bay Area renters have the most expensive housing in the country, according to a new report by the National Low Income Housing Coalition.
Economy 2021-07-14T18:00:26Z

Inflation is pretty high right now, but it probably won't be a huge problem in the long term

Consumer prices rose 5.4% over the year in June. Most of the increases are from shortages and demand spikes that could level out in the next months.
Economy 2021-07-14T17:53:27Z

Meet the typical 40-year-old millennial, who has $128,000 in debt, is not nearly as wealthy as their parents were, and is known as 'geriatric'

The oldest millennials enter middle age this year. Many don't identify with the rest of their generation and are financially behind older generations.
Economy 2021-07-14T17:33:10Z

It's starting to look like Republicans aren't going to support the bipartisan infrastructure deal

Republicans are criticizing how the plan is funded and a Democrat-only spending bill that would pass alongside it.
Retail 2021-07-14T16:55:48Z

From gas to groceries, here are the everyday products and services that have gone up the most in price since last year

Inflation data show price increases of more than 5% in over 45 categories of products and services regularly used by American households.
Economy 2021-07-14T16:28:07Z

23 Democrats are worried about 'plunging' student-loan borrowers back into repayment in October without a long-term plan for protecting their wages and credit scores

Elizabeth Warren, Ayanna Pressley, and Cory Booker asked the Education Dept. how it plans to ensure wages aren't garnished and credit scores harmed.
Economy 2021-07-14T14:44:11Z

Parents are gearing up to spend big on back-to-school stuff, boosted by pandemic savings and the new child tax credit payments

Boosted by the new child tax credit starting this week, back-to-school spending is projected to be higher, and start earlier, than in previous years.
Economy 2021-07-14T14:24:34Z

Student-loan companies aren't prepared to restart payments in October, which could be a 'financial catastrophe' for borrowers, senators say

Elizabeth Warren and Ed Markey urged an extension of a student-loan payment pause through at least March to give borrowers and servicers more time.
Economy 2021-07-14T14:22:27Z

What is inflation, and when should you really start worrying about it?

Prices have been on the rise in recent months. While no one likes higher bills, most economists believe it's temporary.
Retail 2021-07-14T13:26:56Z

The price of vending machine food just jumped by a record amount as Pepsi, Coca-Cola, and snack brands hike prices

The price of snack food sold in vending machines in the US was up 2.3% last month, the biggest single-month cost jump on record, according to Axios.
Retail 2021-07-14T12:26:46Z

Biden's child tax credit checks will boost spending by as much as $200 billion, analysts say, with Amazon, Walmart, and Papa Johns set for big wins

Around 39 million households will receive up to $300 monthly checks as part of Biden's child allowance scheme, giving them more disposable income.
Transportation 2021-07-14T11:00:00Z

Used-car prices are finally starting to fall from their pandemic peaks, but deals are still far away

A used-car shortage has pushed prices to record highs. But prices will drop in coming months, experts say.
Politics 2021-07-14T01:27:33Z

Senate Democrats reach deal on $3.5 trillion reconciliation package

Few details have been released, but the Democratic package is said to to include a Medicare expansion.
Economy 2021-07-13T20:45:39Z

Joe Manchin doubles down on refusing to add to the deficit to fund a Democrat-only infrastructure plan

"We've put enough free money out," Manchin told reporters, adding he would only back an infrastructure package that was fully financed by tax revenue.
Economy 2021-07-13T18:45:26Z

All the things that will make your summer vacation more expensive this year

You'll be paying more for flights, hotels, food, and vehicle rentals this summer. Prices have soared in 2021, hitting new heights in June.
Economy 2021-07-13T15:51:05Z

Why you're paying more for beef, pork, and eggs right now and when prices are expected to go back down

Price inflation is still expected to be temporary, but in the meantime some items on your grocery list are seeing some spikes.
Economy 2021-07-13T15:09:53Z

How much gas costs in different regions of the US

Gas is particularly pricey in the West Coast at $3.87 per gallon, according to the latest data from the US Energy Information Administration.
Economy 2021-07-13T14:38:40Z

Used car prices jumped at the fastest rate on record last month, but there's hope on the horizon

Even though prices went up by 10.5% from May to June, the highest increase since tracking began in 1953, experts say signs point to lower prices soon.
Premium Opinion 2021-07-13T13:02:00Z

I'm a millionaire businessman who was arrested for protesting with restaurant workers. We demand better wages for the employees running our economy.

The House did its job. Now the Senate needs to pass the Raise the Wage Act and finally give tipped workers the support they need.
Economy 2021-07-13T12:51:29Z

Prices surged more than expected in June, as inflation continues to hit Americans' wallets

The Consumer Price Index rose 0.9% between May and June, far higher than economists' consensus of 0.5%. Used cars and trucks prices continue to soar.
Retail 2021-07-13T11:10:59Z

WE ALL QUIT: A photo of a Burger King sign went viral after workers protested long hours, low pay, and kitchen temperatures that reached 97 degrees

The nine Burger King workers join the ranks of retail and restaurant employees "rage quitting" jobs over working conditions and pay.
Economy 2021-07-13T00:29:35Z

Bernie Sanders says he wants over $3.5 trillion for a Democrat-only infrastructure package. Senate Democrats aren't ready to commit.

"I'm going to fight to make that proposal as robust as it can be," he said outside the White House after meeting with Biden.
Economy 2021-07-12T20:06:29Z

'Men have done much better,' Biden's Commerce Secretary says as the share of women in the workforce hits a 30-year low

Gina Raimondo said the government should invest in caregiving as infrastructure, just like roads, bridges, and airports. "We cannot wait," she said.
Economy 2021-07-12T19:21:31Z

Millennials are still driving a 'roaring '20s' of homeownership demand, but there aren't enough houses for them

Millennials drove potential homeownership demand to a record high, per First American. But a historic housing shortage is leaving them empty-handed.
Economy 2021-07-12T18:25:22Z

Wages are growing, but people who have stayed in the same job for the last year aren't getting raises

"People who've remained employed, their wages are growing more slowly than they were before the recession," Heidi Shierholz told Insider.
Economy 2021-07-12T16:48:23Z

Parents could get a $300 check this week from the government thanks to the revamped child tax credit

Families will receive up to $300 per child in monthly payments from July to December through direct deposit, a paper check, or a debit card.
Premium Finance 2021-07-12T16:47:45Z

Banks need consumers and businesses to borrow more as Wall Street's trading hot streak comes to an end

Wall Street bank Q2 earnings are this week. Here's what analysts are expecting, from trading revenues to loan growth, at JPM, BAC, C, MS and GS.
Economy 2021-07-12T15:59:05Z

Tackling student debt may have just gotten easier as 4 more advocates join Biden's ranks

The new hires came from the Consumer Financial Protection Bureau that Elizabeth Warren spearheaded to protect student-loan borrowers.
Transportation 2021-07-12T13:21:42Z

Why used cars are so expensive now — and when prices may drop

The auto market has seemingly been turned upside down. A five-year-old car, for instance, will now run you more than $24,000 on average.
Premium Opinion 2021-07-12T13:02:00Z
Retail 2021-07-12T11:19:52Z

Papa John's is giving its pizza makers bonuses of up to $400, as restaurants cling onto staff in the labor shortage

Papa John's said about 14,000 staff at company-owned restaurants, and in its supply chain, can get up to $400 paid in increments.
Economy 2021-07-11T13:15:00Z

The labor market already didn't make sense before the pandemic. Now those issues are 'unwinding' in 2 ways that could lead to higher pay, top economist says.

Howard economics professor Dr. William Spriggs explains that despite recent trends wages still aren't high after more than 50 years of declines.
Economy 2021-07-11T12:59:00Z

A Virginia courier company is trying to poach Amazon drivers who stop for coffee at gas stations. It blames the labor shortage

American Dedicated Logistics managers are spending 60% of their time trying to poach drivers at malls and truck stops, to plug a staff shortage.
Premium Opinion 2021-07-11T12:27:00Z

China's 'wolf warrior diplomacy' has come to Wall Street

China's recent measures to curb its companies from going public in the US are a sign that its aggressive nationalism has come to financial markets.
Economy 2021-07-11T12:25:00Z

America's post-pandemic rebound could blow the 2009 economic recovery out of the water

The US could regain all lost jobs by the end of 2022, a much quicker pace compared to the Great Recession.
Economy 2021-07-11T12:15:00Z

Here's how student debt could be redefined by the nation's first debtors' union. Democracy might just get rescued in the process.

Creditors and debtors have a "power relationship masquerading as a relationship of equality," Astra Taylor, Debt Collective's founder, told Insider.
Economy 2021-07-11T11:33:00Z

This pizza chain owner who pays $16 an hour says there's no labor shortage, just a shortage of businesses willing to pay a decent wage

Michael Lastoria, CEO of &pizza, told Insider he hasn't struggled to staff his 51 restaurants because he pays workers $16 an hour on average.
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