The Bureau of Labor Statistics (BLS) is set to release the final jobs report for 2024 on Friday, with experts predicting more uncertainty in 2025. The U.S. labor market slowed in 2024, with job growth returning to pre-pandemic levels. Though the economy added about 180,000 jobs per month through November, unemployment rate rose slightly, remaining … Read more
Artificial Intelligence (AI) integration across diverse industries is already paying off for businesses worldwide. Last year’s bullish US stock market rally led by the “magnificent seven” stocks was rewarding for investors who bet heavily on the AI hype. As investments in AI continue to grow, Wall Street is analysing its impact on economies, labour, and … Read more
According to a report by the Federal Reserve Bank of New York, credit card debt in the United States has reached $1.13 trillion. Justin Sullivan/Getty Images) Credit card debt in the United States have surged to their highest level since 2010, causing experts to forecast more financial pain ahead. Industry data collected by BankRegData showed … Read more
The Supplemental Nutrition Assistance Program (SNAP), formerly food stamps, is known to have had one of the strongest anti-poverty effects of any US benefits program. It kept over 6.6 million, including 3 million children, above the poverty line before the pandemic. In short, the SNAP program helps people with no or low income buy essential … Read more
The Social Security Administration (SSA) has warned that funding shortfalls could lead to service delays for millions of recipients, as critical staffing levels face significant reductions. The potential loss of over 2,000 workers would come amid record-high numbers of Social Security beneficiaries relying on the agency for essential services. Staffing Crisis Looms Amid Funding Dispute … Read more
Elon Musk has reached a historic milestone, becoming the first individual to amass a net worth exceeding £314 billion ($400 billion). This leap comes after SpaceX executed a significant insider share sale, boosting the company’s valuation to £275 billion ($350 billion). Musk’s stakes in SpaceX and Tesla remain pivotal to his extraordinary wealth. SpaceX Valuation … Read more
Walmart has revamped its assortment of products, including clothing and electronics. Walmart’s US sales at stores open for at least a year jumped 5.3% year-over-year in Q3 to $114.9 billion as its operating income surged by 8.2% during the quarter to beat Wall Street expectations. The retail giant attributed 75% of its quarterly gains to … Read more
US job growth slowed drastically in October, hit temporarily by hurricanes and labor strikes, in a final major economic snapshot at the end of a razor-edge presidential election campaign where cost-of-living worries dominated voter concerns. The world’s biggest economy added 12,000 jobs last month, far below expectations and down from a revised 223,000 in September, … Read more
Jodi Hayes, a Walnut Creek, California resident, was horrified to discover that 35 strangers had been fraudulently added as authorised users to her Chase credit card, each given the capability to charge up to $19,000. What started as a relaxing holiday on a cruise ship quickly became a financial nightmare, highlighting the increasing dangers of … Read more
Hiring in the United States picked up significantly more than expected in September while the jobless rate crept lower, according to government data released Friday, offering relief to policymakers ahead of November’s election. The world’s biggest economy added 254,000 jobs last month, the Department of Labor said. This was markedly higher than August’s 159,000 number, … Read more
