Economic News Economic News Archives

Category: Economic News

US GDP Growth Chart

The United States Economy Grew 3.3% in Q4 2023

A new report shows that the United States economy continued to expand in the last quarter of 2023. About the numbers: According to the Bureau of Economic Analysis, the U.S. gross domestic product (GDP) increased 3.3% in the fourth quarter. As CNN Business notes, although that's down from the 4.9% growth rate recorded in the third quarter of the year, it's more than double the 1.5% growth economists expected. For...
US Decmer 2034 jobs report graph

United States Economy Added an Estimated 216,000 in December

The United States economy closed out 2023 with yet another impressive jobs report. About the report: According to the latest Bureau of Labor Statistics report, the U.S. economy gained 216,000 jobs in the last month of 2023. That easily beat the 175,00 jobs expected by economists surveyed by Bloomberg. Meanwhile, the unemployment rate was flat month-over-month, sticking at 3.7% (economists had anticipated it to tick up). While December's figures were...
IRS on top of coin stacks

IRS Announces 2024 Tax Brackets, Adjusted Standard Deduction

The Internal Revenue Service (IRS) has released its latest inflation adjustments for the next tax year, including updated tax brackets and standard deduction figures. About the updates: As it does nearly every year, the IRS has updated the tax bracket figures for the 2024 tax year. Next year's marginal tax rates will retain the same basic tiers (10%, 12%, 22%, 24%, 32%, 35%, and 37%) that were installed in 2018....
October 2023 US Jobs Report graph

U.S. Economy Adds 150k Jobs in October, Unemployment Ticks Up

This morning, the United States Bureau of Labor Statistics released its initial jobs report for October 2023. About the report: Headlining today's report, the U.S. economy added an estimated 150,000 jobs last month. That's below the 170,000 jobs that economists surveyed by Wall Street Journal forecasted. But, it's expected that the figures would have been closer to 180,000 jobs if not for the auto workers strike in October. Despite that added...
blocks with 401K on them

Report: 401(k) Balances Rise, Hardship Withdrawals Increase

A newly-released report looking at 401(k) account balances at Bank of America shows that, while overall balances are trending upward, more people are also requesting hardship distributions. About the report: According to the BofA report, the average 401(k) account balance at the end of last quarter was $82,300. That's up by $7,250 so far in 2023, representing a 9.6% increase. In the second quarter, the average contribution came in at...
gas pump

U.S. Gas Prices Surge Week Over Week

Americans setting off on late-summer road trips are likely to encounter higher prices at the pump due to a confluence of factors. The latest figures: According to the newest data from GasBuddy, the national average for a gallon of gasoline rose 16.5Ā¢ from one week prior. Currently, the average is $3.72 per gallon based on price data from more than 150,000 stations across the country. Similarly, the price of diesel...
June 2023 US job growth graph

United States Economy Adds 209,000 Jobs in June 2023

The Labor Department has released its June 2023 jobs report, which also includes some amendments to previously results. About the report: According to the U.S. Bureau of Labor Statistics, the economy added 209,000 jobs in June. Although this continued a 30-month streak of added jobs, June's figure was the lowest since December 2020. It's also lower than the 240,000 jobs economists surveyed by the Wall Street Journal expected. What's more,...
illustration of rising rates

WalletHub Economic Index Shows Increasing Consumer Sentiment

The latest WalletHub Economic Index report has found a significant increase in consumer sentiment. About the report: Personal finance site WalletHub has released its June 2023 WalletHub Economic Index report. This national monthly survey asks consumers about their personal financial conditions and other money factors. These 10 components are then compiled to arrive at an overall economic index. Headlining this month's report is an 18.4% increase in consumer sentiment between...
The "Email" field is empty, you must enter some text to proceed.The text you entered in the "Email" field appears to be invalid, please edit it and try again
Get the Latest News Delivered to Your Inbox

FedEx Announces Winners of 11th Annual 2023 Small Business Grant Contest

Nearly three months after the entry period ended, FedEx has announced the winners of its 11th annual Small Business Grant Content. This year's event saw more than $300,000 in funds going to a variety of small businesses across the nation. Last month, the company revealed 100 finalists, with that list now being narrowed down to just 10 winners. This year's grand prize winners included KindVR, The Cupcake Collection, Up In...
H-E-B and Central Market  credit cards

Imprint Launches Credit Cards from H-E-B and Central MarketĀ 

The FinTech Imprint is partnering with the popular Texas-based grocery chain H-E-B for a pair of new rewards credit cards. This week saw the launch of the H-E-B Visa Signature Credit Card as well as the Central Market Visa Signature Credit Card. With these two (nearly identical) options, customers will be able to earn rewards on groceries and beyond. First, both versions of the card earn up to 5% back on select...
Summer app

Student Loan Benefit FinTech Summer Raises $6 Million

For years, student debt has been one of the most talked about financial topics. What's more, while the debt itself has become a major part of many Americans' lives, discussion of student loans has become political due to efforts to forgive certain loan repayments. However, while we wait for resolution on that front, a FinTech that brings student debt benefit solutions to employers and consumers has raised a new round...
Choice Privileges Select Card

Choice Hotels, Wells Fargo Debut Choice Privileges Select Card

With spring well underway and the summer travel season now just around the corner, Choice Hotels and Wells Fargo have unveiled their latest co-branded credit card offering. Today, the two companies announced the Choice Privileges Select Mastercard. Carrying an annual fee of $95, this card will serve as the premium option in the hotel brand's new lineup. Looking at the Choice Privileges Select, it offers a mix of rewards categories....
Melissa Urban holding a Ness card

Health and Wellness Rewards Card Ness Partners with Whole30

In recent years, several unique rewards cards have come to market. These include offerings from FinTech startups as well as brands looking to do something special for their loyal fans. On that note, a recently-announced rewards credit card offering is now working with a popular brand to introduce new benefits for customers. This week, the Ness Card (which is issued by The Bank of Missouri) unveiled a new partnership with...