In total, US payrolls have been revised down by nearly a million, revised down by 818K

The U.S. economy created 818,000 fewer jobs than initially reported for the 12-month period ending in March 2024, according to a Labor Department announcement on Wednesday. This revision, part of the Bureau of Labor Statistics' (BLS) preliminary annual benchmark adjustments, revealed that job growth was nearly 30%

A federal judge in Texas has tossed out the FTC Ban on noncompete agreements, saying the commission doesn't have the authority to issue the ban

A federal judge in Texas has blocked a new Federal Trade Commission (FTC) rule that aimed to make it easier for employees to leave their jobs and work for competitors. The rule, which was set to take effect on September 4, has now been halted following the court’s decision.

Bankrate has found the average American needs an income of $186,000 to live comfortably. Currently, the average full-time worker makes about $79,000, according to the U.S. Census Bureau.

Many Americans are falling short of the income they believe is necessary for a comfortable life, and most doubt they will ever reach that level. According to Bankrate's annual Financial Freedom Survey, only 6% of Americans who have a clear idea of their desired earnings report that they

10% of married Americans have saved $100,000, while only 3% of single Americans have reached that milestone

A recent survey by GOBankingRates revealed that only 14% of American adults have managed to save $100,000 or more for retirement, raising significant concerns about financial preparedness. Even more worrisome, 78% of respondents reported having saved $50,000 or less, with nearly 37% admitting they have not started saving

A recession in the US is unlikely, per Reuters polling

The U.S. Federal Reserve is expected to reduce interest rates by 25 basis points at each of its remaining three meetings in 2024, according to a slim majority of economists surveyed by Reuters. This projection marks one additional rate cut compared to predictions from the previous month, with many

Donald Trump says he would tap Elon Musk for a Cabinet role

Former President Donald Trump stated on Monday that he would consider offering Tesla and SpaceX CEO Elon Musk a position in his Cabinet or an advisory role if he wins a second term in the White House. In an interview with Reuters, Trump mentioned that he would be open to

One out of every 15 Americans is a millionaire, UBS has said.

According to UBS' 2024 global wealth report, nearly 22 million people in the U.S.—or approximately one in 15 Americans—had a net worth of over $1 million last year. While this is a decrease from 22.7 million in 2022, the U.S. still accounted for 38%

Kamala Harris is allegedly considering SEC chairman Gary Gensler as US Treasury Secretary if she wins the election

Despite SEC Chairman Gary Gensler not signaling any intention to leave his role, speculation is growing in Washington that Vice President Kamala Harris may nominate him as Treasury Secretary if she wins the upcoming election. According to reports shared by senior Senate staffers with The Washington Reporter, these rumors align

Kamala Harris has unveiled a proposal to raise the corporate tax rate to 28%.

Vice President Kamala Harris has introduced a proposal to increase the corporate tax rate to 28%, marking her first significant step toward raising revenue for the ambitious plans she intends to pursue as president. James Singer, a spokesperson for Harris’s campaign, stated in an interview with NBC News that

Subway to launch value meals, including $6.99 footlong, this month

Subway has announced plans to adjust its marketing strategy in response to a recent drop in sales. According to sources who participated in a conference call with franchisees, the company will shift its focus from promoting snacks to offering value meals. CEO John Chidsey revealed that starting on August 26,

Burning Man festival fails to sell out for first time in a decade

For over a decade, tickets to Burning Man have consistently sold out almost instantly, sometimes within minutes. However, this year, less than two weeks before the festival begins, tickets are still available. This unusual situation has raised concerns about the future of the annual desert event, especially given the ongoing

Kamala Harris has proposed elimination of medical debt for millions of Americans

Kamala Harris has proposed a series of economic measures including the construction of millions of new homes, assistance for first-time homebuyers, tax breaks for families, and a ban on grocery "price-gouging" in her first major economic policy speech. These plans build on initiatives from the Biden administration and

Balances on credit cards rose by $27 billion to $1.14 trillion in the second quarter, and auto loan balances increased by $10 billion to $1.63 trillion

Americans are all too familiar with credit card debt, and a new report from the Federal Reserve Bank of New York highlights how rapidly these issues are escalating. Total credit card debt in the U.S. reached an all-time high of $1.14 trillion in the second quarter of 2024,

Only 14% of adults have saved $100,000 or more for retirement

Only 14% of adults have saved $100,000 or more for retirement, per GOBankingRates. 78% of Americans have saved $50,000 or less Gen Z plans to retire the soonest of all generations, at age 54, per Empower. 72% of Millennials and 67% of Gen Z say money can buy

If a home buyer wanted to comfortably afford a house with a median listing price of $440,000 in July, they would need an annual income of $90,000

An interest rate cut won’t fix the housing crisis, Moody’s economist has said. In a recent analysis titled “A September Rate Cut is Not Enough to Relieve the Housing Affordability Crisis,” a Moody’s economist noted that the bond market has already factored in a potential rate cut,

Donald Trump, the Republican presidential nominee, has promised to cut taxes on Social Security

Before the rally, he took to Truth Social to share a message with his followers, declaring in all caps, "Seniors should not pay tax on Social Security!" This promise comes at a time when senior poverty is on the rise. The National Council on Aging reports that over

Kamala Harris to propose federal ban on 'corporate price-gouging' in food and groceries

Vice President Kamala Harris is set to introduce a historic federal ban targeting "corporate price-gouging in the food and grocery industries," according to a statement from her campaign late Wednesday. "There’s a clear distinction between fair pricing in competitive markets and excessive prices that don'

Sweden reports first case outside Africa of the more dangerous mpox strain

Sweden has confirmed the first case of the more deadly mpox variant outside Africa, just a day after the World Health Organization declared a global public health emergency. The infected individual contracted the virus while staying in a region of Africa affected by the mpox outbreak, according to a statement

Driver’s licenses and state IDs in Apple, $AAPL, Wallet are coming to California

Californians will soon be able to store their driver’s licenses and state IDs in Apple Wallet, offering a streamlined and secure method to present these documents using only an iPhone or Apple Watch. “We’re thrilled to partner with the state of California to bring IDs to Apple Wallet

Subway has called for an ‘emergency’ meeting with franchisees as sales plummet

Subway has urgently convened a meeting with its franchisees from the 19,000 North American locations as they face declining sales and profits, The Post has learned. The fast-food chain, which was acquired in April for $9 billion by Roark Capital, owner of Dunkin, Arby’s, and Baskin Robbins, has

EU accused its internal market commissioner of going rogue by sending a letter to Elon Musk threatening punishment hours before Elon interviewed US presidential candidate Donald Trump on X

Thierry Breton, the European commissioner for the internal market, sent a letter to Elon Musk on Monday, just hours before Musk's live-streamed interview with Trump was scheduled to air on X. This action was taken without the consent of European Commission president Ursula von der Leyen, according to

US approves $20 billion Israel weapons package, including fighter jets

On Tuesday, the United States approved a $20 billion sale of fighter jets and other military equipment to Israel amid its ongoing conflict in the Gaza Strip. However, the Pentagon noted that the delivery of these items would not begin for several years. U.S. Secretary of State Antony Blinken

The US Justice Department is considering breaking up Alphabet's Google, $GOOGL

The U.S. Department of Justice is exploring options that may include breaking up Alphabet's Google, following a recent court ruling that found the tech giant had illegally monopolized the online search market, according to Bloomberg News. Shares of the California-based company fell about 3% at 1401 GMT

An interest rate cut won’t fix the housing crisis, Moody’s economist says

An interest rate cut won’t fix the housing crisis, Moody’s economist has said. In a recent analysis titled “A September Rate Cut is Not Enough to Relieve the Housing Affordability Crisis,” a Moody’s economist noted that the bond market has already factored in a potential rate cut,

US July CPI +2.9% vs +3.0% y/y expected

Gold prices dropped 1% on Wednesday following data that showed U.S. consumer prices rebounded as expected in July, dampening hopes for a significant rate cut by the Federal Reserve next month. Spot gold decreased by 1% to $2,440.47 per ounce by 1:45 p.m. EDT (1745