Housing price growth reached 34-year peak in 2021
Housing prices in the nation’s largest cities increased last year at the fastest pace in three decades, though rising mortgage rates could cool the red-hot market this year. National home prices rose by 18.8% from a year earlier, according to the S&P CoreLogic...
Retail Sales Soar in January Despite ‘Training Wheels’ Coming Off of the Economy
The Omicron variant made its rounds across the country in January, causing a number of employee shortages and shortened shopping hours. Yet, consumers continued to spend.
Beauty services are poised for a boom, but the industry is more competitive now
The last few weeks have been busy for Eleni Tziouvaras, who owns Goleta, California-based E Salon. Tziouvaras’ business contracted at the beginning of the pandemic, slashing her income by 90 percent to $15,000 in 2020. Now, with restrictions on businesses being lifted...
Video Game Streaming – A Pandemic Fad or a New Economic Trend?
Ethan Paris, 23, was a college student at SUNY Oneonta when the pandemic hit. Before lockdown, Paris went to classes, hung out with his friends, and spent most of his spare time playing video games. When the pandemic sent the country into a lockdown, Paris moved back...
U.S. Hiring Declaration Slows Economic Recovery
Hiring slowed sharply last month, a sign of the uneven economic recovery as companies scrambled to find enough workers in the face of surging consumer demand. The economy added a disappointing 266,000 jobs in April, far below economists’ projections that about 1...
Weak U.S. Jobs Numbers Show Economy is Improving Slower than Originally Expected
Audio: Are Unemployment Benefits to Blame for Dismal Jobs Report? The American job market hit a slow down in April, going against economists predictions and causing debate as to what the best steps are for economic recovery moving forward. U.S. employers added...
Consumer Prices Surge in March, Buoying Inflation Fears
Consumer prices surged in March, intensifying fears of inflation as the country’s economy recovers from the novel coronavirus pandemic. The consumer price index jumped 0.6% from the previous month, in part, due to rising gasoline prices, data released by the Bureau of...
Home prices continued soaring in January, fueled by a tight housing market
After a strong showing in the second half of 2020, home prices continued their rapid growth in January, as the housing market remains squeezed by vigorous demand. National home prices saw 11.2% growth in January compared to last year, according to the latest...
Watch for high retail sales in March as restaurants rebound and gas prices soar
The Census Bureau will release the advance monthly retail sales report for April on Thursday. The report shows how much consumers spent on retail trade in the previous month – an important indicator of economic health. Economists surveyed by Bloomberg expect sales...
The Federal Minimum Wage Goes Unchanged, and an Underrepresented Group is Paying the Price
Angela Greene worked with a mobile cleaning crew at a sheltered workshop in South Carolina for 21 years. She worked Monday to Friday every week and made no more than $3.00 an hour. Her hard work never earned her the full federal minimum wage, all because she has an...