Monday, August 15, 2022
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Everything from wages to used car prices could jump higher, market researcher Jim Bianco warns

Washington's efforts to curb inflation will fall short particularly this year, according to market forecaster Jim Bianco.And, he believes this week's key inflation data will help prove it."I don't see anything that will reduce the inflation rate. There are some things that might reduce prescription drug prices and maybe

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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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Number of Americans involuntarily working part-time falls by 707,000 to 3.6 million, lowest level in 21 years

Momo Productions | Digitalvision | Getty ImagesThe number of Americans who want to work full-time but are forced to work part-time jobs declined in June to its lowest in more than 20 years, according to federal data issued Friday, underscoring the strength of the labor market and the bargaining

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The job market is still ‘red hot’ despite recession fears, as the Great Resignation continues

Mixetto | E+ | Getty ImagesWorkers are still reaping the benefits of a hot job market characterized by few layoffs, ample job openings and a high level of voluntary departures, according to U.S. Department of Labor data issued Wednesday.The numbers reveal that the pandemic-era trend known as the "Great

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Job loss is a ‘reality’ of the business cycle, says labor expert. Take these 6 key steps after a layoff

Halfpoint Images | Moment | Getty Images1. Take a financial inventoryAmong the first things to do if you lose your job is take stock of financial resources at your disposal, according to financial advisors.Those may include other streams of income such as a partner's salary, as well as emergency

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Beyonce’s ‘Break My Soul’ is a sign the Great Resignation ‘has seeped into the zeitgeist,’ says labor economist

Beyoncé released a new single, "Break My Soul," on Monday. The song references quitting a job and employee stress, alluding to the recent Great Resignation trend.Larry Busacca | PW18 | Getty ImagesThe Great Resignation is part of the zeitgeist. If you need proof, just ask Beyonce.The superstar singer's new

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Fraud had ‘significant’ role in $163 billion leak from pandemic-era unemployment system

Courtneyk | E+ | Getty ImagesMore than $163 billion in benefits likely leaked from the unemployment system during the pandemic, with a "significant portion" attributable to fraud, according to a U.S. Department of Labor report.Congress created many new programs in March 2020 to support millions of people who lost

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Home affordability at 2007 bubble levels, but crash is unlikely: Blackstone’s Joe Zidle

A major Wall Street firm is drawing a striking parallel to the housing bubble.Blackstone's Joe Zidle calls homes almost as unaffordable as the 2007 peak. Yet, he believes a crash is unlikely due to a major difference: Most owners aren't using their homes like an ATM."That caused so many

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The Federal Reserve’s fight with inflation could cool the hot labor market, risking stagflation

The Federal Reserve is hiking interest rates in an effort to defuse an explosive year of price inflation. But global forces could neutralize the effects of that tightening of monetary policy, and keep inflation high.Some observers believe the U.S. government may have misread the looming threat of inflation. During

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