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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Nearly 9 Million Americans May Still Have Unclaimed Stimulus Checks
Earlier this year, as the COVID-19 pandemic all but shut down the United States, the CARES Act authorized direct payments of up $1,200 per adult in an effort to stimulate the economy and keep families afloat. While these checks and direct deposits began being sent out back in April, it seems that some may still…
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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…
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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…
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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…
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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…
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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…
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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…
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Household Debt in the U.S. Dips For the First Time in Six Years
Those looking for a silver lining to the current pandemic may have found one in a new report. According to the Federal Reserve Bank of New York, total household debt — which includes both housing and non-housing debt — came in at $14.27 trillion for the second quarter of the year. Importantly, that’s down 0.2% (equating…
