Wednesday, August 10, 2022
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Long-term unemployment tumbles to its pre-pandemic level, helping to ‘mitigate the risks of labor-market scarring’

Long-term unemployment tumbled below its pre-pandemic level in July, the U.S. Department of Labor said Friday, as an unexpectedly strong showing of job gains buoyed workers broadly across the economy.Long-term joblessness is a period lasting at least six months. Those without work that long are exposed to more financial

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Does the Inflation Reduction Act violate Biden’s $400,000 tax pledge? Expect ‘a different answer depending on who you ask,’ says analyst

Jim Watson | Afp | Getty ImagesSenate Democrats' package of climate change, health-care, drug pricing and tax measures unveiled last week has proponents and opponents debating whether the legislation violates a pledge President Joe Biden has made since his presidential campaign, to not raise taxes on households with incomes below $400,000

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Typical job switcher got a pay raise of nearly 10%, study finds

Morsa Images | DigitalVision | Getty ImagesMany workers who changed jobs recently saw raises from their new paychecks outpace inflation by a wide margin — by nearly 10% or more, according to a new study by the Pew Research Center.The typical American who changed employers in the year from

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32% of travelers overspend to earn credit-card sign-on bonuses. Here’s how to avoid that ‘siren song,’ says industry analyst

Virojt Changyencham | Moment | Getty ImagesNearly half of consumers holding a credit card with travel perks opened the card to chase the rewards — and a big share of them blew their budgets in the pursuit, according to a new survey.Specifically, 45% travel credit cardholders opened a card

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Federal consumer finance watchdog to tighten bank rules around money-transfer scams, report says

The Consumer Financial Protection Bureau headquarters in Washington, D.C.Joshua Roberts/Bloomberg via Getty ImagesA CFPB spokesperson declined to comment on the specifics of the report."Reports and consumer complaints of payments scams have risen sharply, and financial fraud can be devastating for victims," the spokesperson said in an e-mailed statement. "The

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Airlines are struggling with lost and delayed bags: What to know and how to pack if you’re traveling this summer

Tim Boyle | Getty Images News | Getty ImagesAir travel has been rocky this summer — and baggage problems factor among many other issues for travelers like flight cancellations and delays.Nearly 220,000 bags were "mishandled" by U.S. airlines in April 2022, meaning they were lost, damaged, delayed or stolen,

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Looking to get your funds out of a collapsed crypto platform? Don’t get your hopes up

Bankruptcy filings from Celsius and Voyager have raised questions about what happens to investors' crypto when a platform fails.Rafael Henrique | Sopa Images | Lightrocket | Getty ImagesTraders hoping to recoup their funds from failed cryptocurrency exchanges anytime soon are likely to end up disappointed, legal experts tell CNBC.Crypto

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Inflation poses a ‘clear and present danger,’ says Manchin: Economists weigh in on how it can hurt and help consumers

A person shops for groceries on March 10, 2022 in the Prospect Lefferts Garden neighborhood of Brooklyn.Michael M. Santiago | Getty Images News | Getty ImagesInflation hit a new 40-year high in June and policymakers are working feverishly to tame it — perhaps even risking recession to do so.

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Inflation jumped by 9.1% in June, the fastest since 1981. How does your ‘personal inflation rate’ compare?

Grocery shopping in Rosemead, California on April 21, 2022.Frederic J. Brown | Afp | Getty ImagesInflation jumped to a new 40-year high in June, the U.S. Bureau of Labor Statistics reported Wednesday. That means the prices Americans pay at the gas pump, grocery store and elsewhere have been rising much faster

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The euro is near parity with the U.S. dollar: Here’s how travelers can take advantage of the exchange rate

The value of the euro relative to the U.S. dollar has sunk near a two-decade low — and that's good news for Americans traveling to Europe this summer.A favorable exchange rate means travelers' dollars will go further when making purchases abroad."Right now, your money goes further in Europe than

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