By Nathalie Voit The city of Philadelphia will reinstate its indoor mask mandate due to a recent surge in COVID-19 cases, the Philadelphia Department of Public Health announced in a statement on April 11. Starting April 18, the city will require masks in all indoor public spaces, including schools, businesses, museums, restaurants, offices, and government buildings. Businesses [...]
By Nathalie Voit Elon Musk will no longer be joining Twitter's board of directors, Twitter's chief executive Parag Agrawal said in a tweet on April 10. The news comes less than a week after the social media service announced the Tesla and SpaceX CEO would be appointed to its 11-person board effective April 9 for a term [...]
By Nathalie Voit JetBlue is offering flight attendants $1,000 attendance bonuses for showing up to work between April 8 and May 31, according to a company memo seen by CNBC. The news comes amid ongoing staffing shortages that have disrupted normal flight operations. The air carrier canceled more than 300 flights over the weekend just one [...]
By Nathalie Voit Jobless claims sank to their lowest level in over five decades in the week ending April 2, the Labor Department said in an economic release published April 7. Initial filings for unemployment dropped 5,000 from the previous week to 166,000, well below analyst estimates of 200,000 and the lowest since November 1968. Initial claims [...]
By Nathalie Voit A new survey released by investment banking company Piper Sandler found teens spending more despite rising economic uncertainty. The 43rd semi-annual “Taking Stock With Teens” report, released April 6, saw teen self-reported spending rise to $2,367, or 4% sequentially. This was a modest increase from the fall, when self-reported spending levels were at [...]
By Nathalie Voit The Federal Reserve plans to rapidly reduce the size of its balance sheet starting in May, according to minutes of the March Federal Open Market Committee (FOMC) meeting released on April 6. Balance sheet reduction will occur more rapidly than during the 2017-19 period when securities holdings were allowed to runoff by [...]
By Nathalie Voit Prices have gotten so high that most Americans (81%) believe the country is heading into a recession this year, a new survey released on April 5 from CNBC and Momentive found. Republicans were more likely to expect a recession (91%) than Democrats (73%) or independents (81%), according to the survey. Additionally, those who reported [...]
By Nathalie Voit Demand for mortgage applications continues to tumble amid surging interest rates, data from the Mortgage Bankers Association (MBA) found. For the week ending April 1, mortgage applications fell 6.3% from one week earlier as the average contract interest rate for a 30-year fixed-rate mortgage with conforming loan balances of $647,200 or less [...]
By Nathalie Voit Apple announced it will hold its annual Worldwide Developers Conference (WWDC) on June 6. The much-anticipated event is typically where Apple unveils new product launches like its new iPhone, iPad, Apple Watch, Apple TV, and MacBook software. The event typically features Apple CEO Tim Cook in a keynote address on the first day of [...]
By Nathalie Voit Approximately 80,000 technology-related jobs were added to the U.S. economy in 2021, according to a new report released on March 29 by the Computing Technology Industry Association (CompTIA). CompTIA’s “State of the Tech Workforce” shows that tech-related employment increased in 44 states in 2021. The addition of 80,000 tech workers to the U.S. labor [...]
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