Category: Economic News
The macro economy has a large impact on your personal finances. To help you manage your money better we track the import economic trends. Stay up to date so you can be prepared to adjust your personal finance strategies.
Economic News
Economic News
Job Growth Bounces Back in March After Weak February
In February U.S. job gains came in at a surprisingly low 20,000 — or more than 150,000 less than expectations. Despite being revised upwards to 33,000, it remains the weakest month of gains since September 2017. However the just-released March figures show a return to form of sorts, once again exceeding economist estimates. As CNN Business reports, the U.S. economy added 196,000 jobs in March. That's nearly six times the...
Economic News
Data Shows How Bad American "Retirement Crisis" Really Is
Are you properly preparing for retirement? If you're like many Americans, the answer is most likely "no" — and that's a big problem. As CNBC reports, data shows that the majority of Baby Boomers as well as other generations are woefully ill-prepared for retirement, with savings, pensions, and Social Security benefits all lacking. Starting with private retirement savings, Vanguard found that the average 401(k) account value for individuals over 65...
Economic News
Study Finds Average U.S. Household Has $8k+ in Credit Card Debt
It's sad to say that, for many Americans, credit card debt is just a fact of life. Currently our total outstanding credit card debt tops $1.03 trillion dollars. What's more it seems that attitudes toward debt continue to evolve, leading the majority of adults to admit they'd take on debt for a frivolous purpose. According to WalletHub's latest credit card debt survey, 62% said that there were frivolous purchases worth...
Economic News
Federal Reserve Seems Unlikely to Raise Rate This Year
Over the past year, one recurring economic story has revolved around the Federal Reserve. That’s because the central banking system spent 2018 slowly raising interest rates from their historically low levels — much to the dismay of the President. Although that trend was expected to extend into this year, it now seems that may not happen after all. At a meeting on Wednesday, not only did the Federal Reserve vote...
Economic News
Despite Recent Dip, Housing Market Looks for Spring Uptick
Winter has never been a popular time to buy to home but a recent dip did have some economists concerned. In January home sales fell 1.2% from the prior month, leading some to ponder whether it was a sign of a larger slowdown. However, as CNN Business reports, analysts have a few reasons to believe this spring will see homes sales bloom once again. The first factor adding to this...
Economic News
February Jobs Numbers Come In Low, Adding Just 20,000
Recent months have shown official job numbers well-exceeding economists expectations — but that was not the case in February. While estimates reported by CNN Business anticipated that data would show the U.S. economy added 180,000 jobs during the shortest month of the year, the Labor Department announced that it actually only added 20,000. That marks the lowest job growth month since September 2017. Nevertheless it was the 101st straight month...
Economic News
