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.
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Home Sales Soften as House Prices Reach Record Highs
With home prices continuing to soar and listings remaining low, it seems as though some buyers are backing away. According to the latest Redfin data, the median home sale price reached $358,766 last week to mark a new record high. What’s more, the figure is up 24% year over year. Meanwhile, the median asking price…
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Americans Paid Down $56.5 Billion in Credit Card Debt During Q1 2021
Even as the United States economy continued to be weighted down by the pandemic, many Americans still managed to pay down a significant amount of their household credit card debt. According to the latest data from the personal finance site WalletHub, U.S. consumers cut a total of $56.5 billion in credit card debt during the…
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Employee Retirement Plan Participation in 2020 On Par with 2019
It goes without saying that 2020 was an unprecedented year that changed the lives of nearly all Americans. This includes several financial impacts that arose as lockdowns went into effect and as businesses’ sales suffered. Nevertheless, Bank of America’s 2021 Financial Life Benefits Impact Report (which looks at figures from the year prior) shows that…
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United States Economy Gained 266,000 Jobs in April
This morning, the United States Labor Department had good and bad news about the nation’s economic recovery. According to the agency’s latest report, the U.S. added 266,000 jobs during the month of April. While any gain in jobs is a good thing, the disappointment comes from the fact that economists had anticipated numbers to reach…
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Survey: Majority of Remote Pandemic Workers Want to Remain Remote
With the COVID-19 pandemic now in its second year, many workers who were forced to move from the office to their home last spring may be getting used to the “work-from-home” arrangements. In fact, a new survey suggests that a significant number of pandemic remote workers are hoping not to have to return to the…
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Leading U.S. Credit Card Issuers Cut Limits by $99 Billion in 2020
As the COVID-19 pandemic began to tighten its grip on the United States, leading to closures and lockdowns across the country, many feared for the economic worst. Indeed, the following weeks brought massive job losses and stock market volatility. Now, figures show that as this economic uncertainty was spreading, creditors were also slashing spending limits…
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IRS Opens “Get My Payment” Tool for 2021 Economic Impact Checks
With another round of Economic Impact Payments now going out to many Americans, the Internal Revenue Service (IRS) has updated its Get My Payment tool. According to the IRS, payments authorized by the American Rescue Plan Act began reaching individuals as early as March 12th, with an official payment date set for March 17th. This…
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U.S. Economy Gains 379,000 Jobs in February
The short month of February saw thousands of jobs return to the United States. According to the latest Bureau of Labor Statistics data (as reported by Axios), the U.S. regained 379,000 jobs last month. That result well outpaced the 210,000 jobs that economists had expected to see. Furthermore, it was the best month for growth…
