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Economy

Latest updates on the U.S. economy.

Target quarterly results fall as holiday discounts and dockworker strike hit profits

Target quarterly results fall as holiday discounts and dockworker strike hit profits

Target etched out a slim sales increase in the third quarter and profits slumped as inflation-weary customers pulled back on spending and costs related to a dockworker strike in October dragged on results.

November 20, 2024 10:26am EST
Most expensive US cities to raise kids in 2024 revealed

Most expensive US cities to raise kids in 2024 revealed

On average, a household with one child experiences a 40% increase in annual living costs, while having two children raises costs by a substantial 70%, the study found.

November 19, 2024 5:52pm EST
Map: How much of a restaurant worker's income comes from tips

Map: How much of a restaurant worker's income comes from tips

Restaurant employees rely on the kindness of customers when it comes to tips, which can make up a sizable portion of their take home pay based on findings in a new report.

November 19, 2024 3:54pm EST
Trump's Treasury secretary pick: Who are the contenders?

Trump's Treasury secretary pick: Who are the contenders?

President-elect Trump is reviewing candidates for the Treasury secretary role, with the list of contenders getting broader after Elon Musk offered an endorsement and shook up the race.

November 19, 2024 9:14am EST
Here's how much the average American will spend for the holidays, by city

Here's how much the average American will spend for the holidays, by city

Holiday sales in 2024 are expected to grow between 2.5% and 3.5% from last year, according to WalletHub.

November 19, 2024 8:16am EST
List: Most cost-effective capital cities in the world

List: Most cost-effective capital cities in the world

Seoul, South Korea, topped the list as the most cost-effective capital city in the world.

November 18, 2024 6:52pm EST
Credit card debt surges to another record high, New York Fed data shows

Credit card debt surges to another record high, New York Fed data shows

Americans' debt balances grew across the board, but Fed researchers voiced 'concerning' growth in auto and credit card delinquencies.

November 16, 2024 12:45pm EST
Meatpacking company illegally hired minors in MN, fined $2 million

Meatpacking company illegally hired minors in MN, fined $2 million

A meatpacking company with operations in St. James has been fined $2 million after an inspection found it was illegally employing underage workers that were also dealing with hazardous materials and operating machinery.

November 14, 2024 6:14pm EST
Where was inflation the highest in October? Northeast and Midwest cities near the top

Where was inflation the highest in October? Northeast and Midwest cities near the top

The Labor Department released a new report on inflation that examined price growth in various cities and metropolitan areas in the U.S. which reflected a higher rate of inflation in the Northeast and Midwest.

November 14, 2024 1:18pm EST
US inflation may have increased in October: Here's what's rising in price, and what's leveling off

US inflation may have increased in October: Here's what's rising in price, and what's leveling off

A rise in prices could make the Federal Reserve less likely to cut its key interest rate in the coming months. But most economists believe inflation will continue its slowdown.

November 13, 2024 11:20am EST
Thanksgiving dinner 2024: How much you can save using store-brand products

Thanksgiving dinner 2024: How much you can save using store-brand products

Choosing store-brand items for Thanksgiving could save consumers around $17, according to a Wells Fargo report, as food inflation continues to impact holiday costs.

November 12, 2024 2:44pm EST
Here are the cities with the highest student loan delinquency rates

Here are the cities with the highest student loan delinquency rates

Millions of borrowers are paying back their student loans, but a recent report shows that some are having trouble managing their monthly payments in these cities.

November 8, 2024 3:01pm EST
Nissan to cut 9K jobs, reduce CEO's monthly pay by 50% as company faces 'severe situation'

Nissan to cut 9K jobs, reduce CEO's monthly pay by 50% as company faces 'severe situation'

Nissan President and CEO Makoto Uchida volunteered to immediately begin forfeiting half of his monthly compensation, and other executive committee members also volunteered to take pay cuts.

November 8, 2024 9:43am EST
Federal Reserve cuts its key interest rate by a quarter-point on heels of election

Federal Reserve cuts its key interest rate by a quarter-point on heels of election

The interest rate cut follows a larger half-point reduction in September, and it reflects the Federal Reserve's continued focus on supporting the job market and battling inflation.

November 7, 2024 2:51pm EST
Thanksgiving dinner will cost less this year, analysts say

Thanksgiving dinner will cost less this year, analysts say

Your Thanksgiving turkey and some side dishes are expected to be a bit cheaper this year thanks to cooling inflation.

November 7, 2024 10:12am EST
Inflation may be coming down but that doesn't mean prices will, expert explains

Inflation may be coming down but that doesn't mean prices will, expert explains

Allianz chief economic adviser Mohamed El-Erian warned that even though inflation has cooled significantly, prices consumers face are unlikely to decrease.

November 4, 2024 12:41pm EST
UPS holiday hiring event this weekend: What to know if you're looking for work

UPS holiday hiring event this weekend: What to know if you're looking for work

UPS is looking to fill multiple positions this holiday season and here’s how you can apply.

November 1, 2024 11:06am EDT
Price difference between new and used cars hits all-time high — what to know

Price difference between new and used cars hits all-time high — what to know

The gap between the average price of a new vehicle compared to a used car topped $20,000 for the first time last quarter, according to data from auto shopping guide Edmunds.

November 1, 2024 7:13am EDT
PepsiCo is closing 4 bottling plants and cutting nearly 400 jobs

PepsiCo is closing 4 bottling plants and cutting nearly 400 jobs

The company's plant closings will impact workers in Cincinnati, Chicago, Atlanta, and Harrisburg, Pennsylvania.

October 30, 2024 5:25pm EDT
Best (and worst) states for jobs in 2024, according to WalletHub

Best (and worst) states for jobs in 2024, according to WalletHub

When it comes to finding a job, New Hampshire ranks No. 1 in the country, according to a new report from WalletHub. Here's how your state ranks.

October 30, 2024 8:02am EDT
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Investigation details released in 10-minute flight, crash killing NASCAR's Greg Biffle and 6 more

Investigation details released in 10-minute flight, crash killing NASCAR's Greg Biffle and 6 more

Luke Air Force Base lockdown lifted after reports of active shooter incident

Luke Air Force Base lockdown lifted

Trump gives fed workers off on Christmas Eve, December 26

Trump gives fed workers off on Christmas Eve, December 26

The 'Patriot Games': What we know about Trump's proposed high school athletic competition

The 'Patriot Games': What we know about Trump's proposed high school athletic competition

Trump signs executive order to reclassify marijuana as less dangerous drug

Trump signs executive order to reclassify marijuana as less dangerous drug

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Anna Kepner: Custody hearing sheds light on family tensions after teen’s cruise ship death

Anna Kepner: Custody hearing sheds light on family tensions after teen’s cruise ship death

Ex-Sanford officer, Ronny Neal, linked to over $12K payout in alleged fraud scheme: court documents

Ex-Sanford officer, Ronny Neal, linked to over $12K payout in alleged fraud scheme: court documents

Who is Michelle Newton? 3-year-old missing Kentucky girl found 40 years later, reunites with dad

Who is Michelle Newton? 3-year-old missing Kentucky girl found 40 years later, reunites with dad

Powerball: Jackpot hits $1.5 billion, fifth-largest in game's history

Powerball: Jackpot hits $1.5 billion, fifth-largest in game's history

ICE detainer issued for Cuba citizen suspected of stealing 4 Osteen horses; 2 horses recovered

ICE detainer issued for Cuba citizen suspected of stealing 4 Osteen horses; 2 horses recovered

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