By Nathalie Voit New car buyers are increasingly shelling out more than $1,000 a month to finance their vehicles as rising interest rates coupled with a red-hot auto market render four-digit car payments more common. According to new data from automotive research firm Edmunds, a staggering 12.7% of new-vehicle shoppers agreed to $1,000+ monthly auto loan payments [...]
By Nathalie Voit The Commerce Department said monthly construction spending plunged for the first time since the fall, according to an economic news release posted on July 1. Total construction spending fell 0.1% in May after surging by 0.8% in April. This was the first decrease since September, and well below the Reuters +0.4% projected estimate. [...]
By Nathalie Voit Americans who hopped on an airplane for the Fourth of July were in for a rocky start to their holiday. According to flight-tracking service FlightAware, about 15,000 U.S. flights were delayed over the holiday weekend, with hundreds of more flights canceled. FlightAware data showed that American Airlines delayed nearly 1,000 flights, or [...]
By Nathalie Voit A survey by ZipRecruiter found that most recent college undergraduates underestimate their starting salaries–by far. According to a ZipRecruiter 2019 Annual Job Seeker and Employer Survey, new college undergrads underestimate their starting potential by a whopping $10,000. When ZipRecruiter surveyed the annual pay of full-time workers with bachelor’s degrees, the career employment [...]
By Nathalie Voit Google, on July 1, said it was implementing new user privacy protections, including location history auto-delete and expanded user data protocols on apps. The search engine giant said on Friday it was taking additional measures to safeguard users’ sensitive information from state and local governments, particularly in the realm of personal health. [...]
By Nathalie Voit Leading U.S. air carrier American Airlines is offering its pilots a 17% salary hike as part of a new deal reached with the help of its pilots’ union on June 30, CNBC reported. According to an internal video obtained by CNBC, the tentative proposal includes a 6% premium at signing, followed by [...]
By Nathalie Voit Like consumer goods and services, Fourth of July holiday festivities are not immune to the detrimental impact of inflation. According to a 2022 Wells Fargo July Fourth Food Inflation Report, the average 10-person Fourth of July get-together is 11% more expensive this year than last year. If you are planning to host [...]
By Nathalie Voit The U.S. Food and Drug Administration (FDA) advised the general public to take note of the risks associated with baby neck floats. The federal agency said in an announcement that the use of the products could be fatal or lead to serious injury, particularly for babies with developmental delays or disabilities, such as spina [...]
By Nathalie Voit A University of Michigan consumer sentiment report showed Americans are feeling the most pessimistic about the U.S. economy since 1952. After posting a preliminary reading of 50.2 two weeks ago, the final June index for the Survey of Consumer Sentiment dropped to 50.0, the lowest on record. The index for June represents a 14.4% [...]
By Nathalie Voit A shortage of common chemicals across the U.S. threatens to upend domestic crop harvests and prompt a potential food crisis, Reuters reported on June 27. Reuters said widely used weed killers and fertilizers like Roundup glyphosate-based herbicide and Glufosinate- ammonium have seen prices skyrocket and inventory dwindle due to ongoing disruptions in the agricultural supply chain. The national [...]
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