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
American Net Worth See Record Increase in Q2 2020
Amid all of the uncertainty and lockdowns that the past few months have brought, it seems that the overall value of Americans' portfolios and homes has soared. As Axios reports, new data from the Federal Reserve shows that U.S. household net worth reached $119 trillion during the second quarter of this year. That marked an increase of $7.6 trillion, which amounts to a 6.8% rise. What's more, the spike was...
Economic News
U.S. Initial Unemployment Claims Amounted to 860,000 Last Week
This morning, the United States Department of Labor released the latest unemployment insurance filing numbers showing that 860,000 workers applied for new benefits last week. The figure is down from an adjusted 893,000 the week prior and is a fraction of the near-record 6.6 million claims filed at the height of COVID-related shutdowns. It's also below the 870,000 that economists polled by MarketWatch had anticipated. Nevertheless, it's still four-times what...
Economic News
United States Economy Brought Back Only 1.4 Million Jobs in August
Last month, more Americans headed back to work as the United States continued reopening efforts. According to the latest report from the Bureau of Labor Statistics, nonfarm payrolls increase by 1.4 million in August. In turn, the unemployment rate fell from 10.4% to 8.4%. Unfortunately, despite the latest gains, the U.S. economy has still seen a net loss of 11.5 million jobs since the COVID-19 pandemic hit earlier this year....
Economic News
Mastercard Partnering with Multiple Brands to Pilot Cashierless Retail Concepts
In recent months, as the COVID-19 pandemic has changed everyday life for citizens around the globe, some technologies have begun playing a more prominent role in our society. Beyond video chat services becoming the new schools/workplaces and menus via QR code replacing their paper counterparts in some places, contactless payments and cashierless transactions have gone from being somewhat of a novelty to being a near necessity. Given this reality, several...
Economic News
Labor Department Report Shows States with Highest, Lowest Unemployment
Throughout the current pandemic, it's been clear that some areas of the nation have been harder hit than others. This is not only true in terms of coronavirus cases and deaths but also for economic conditions. With that in mind, let's take a look at this morning's Bureau of Labor Statistics state unemployment report. As previously announced, the national unemployment rate was 10.2% in July. However, the latest data shows...
Economic News
Amazon Reportedly Eyeing In-Mall Fulfillment Centers
Recent years have seen numerous retail chains closing locations, filing for bankruptcy, or disappearing altogether. Unfortunately, the coronavirus pandemic has only accelerated this trend. In particular, these closures have impacted shopping malls, which now find themselves with large retail footprints to fill. However, it seems that one of the nation's largest mall owners could find the solution in a "strange bedfellows" situation. According to a report from the Wall Street...
Economic News
