Americans are suffering from financial burnout

A recession is a very real possibility. As the Federal Reserve aggressively raises rates to combat persistent inflation, the tough stance could come at a price. Already, falling stock markets have wiped out more than $9 trillion in wealth from U.S. households. Fed Chairman Jerome Powell also warned the central bank’s upcoming moves to fight soaring prices may … Read more

Stanley Black & Decker Cuts About 1,000 Finance Jobs As Part of Cost-Savings Drive

Stanley Black & Decker Inc. has eliminated a large portion of finance jobs as part of an effort to cut up to $200 million in costs by year’s end amid high inflation and slowing demand. The New Britain, Conn.-based maker of power tools and lawn equipment this week cut about 1,000 finance roles, according to … Read more

Stubborn inflation forces more Americans to live paycheck to paycheck

Inflation is a persistent problem The consumer price index, which measures the average change in prices for consumer goods and services, rose a higher-than-expected 8.3% in August, driven by increases in food, shelter and medical care costs. Although real average hourly earnings also rose a seasonally adjusted 0.2% for the month, they remained down 2.8% from … Read more

Amazon hikes pay for warehouse and delivery workers

A worker sorts out parcels in the outbound dock at Amazon fulfillment center in Eastvale, California on Tuesday, Aug. 31, 2021. Watchara Phomicinda | MediaNews Group | The Riverside Press-Enterprise via Getty Images Amazon is raising its hourly wages for its warehouse and delivery workers, the company announced Wednesday. Beginning in October, Amazon’s average starting … Read more

GM delays return-to-office mandate after employee backlash

General Motors CEO Mary Barra speaks to reporters while she waits for the arrival of President Joe Biden at media day of the North American International Auto Show in Detroit, Michigan, September 14, 2022. Rebecca Cook | Reuters DETROIT – General Motors is conducting damage control around its return-to-office plans after a Friday afternoon message … Read more

Careers where over 50% of workers are happy with their pay

Want to feel good about how much money you make? Go into product management, engineering or real estate, where workers are more likely to say they feel well-compensated for their jobs. That’s according to LinkedIn’s Workforce Confidence Index, which surveyed more than 32,000 U.S. workers from June to September. Roughly 60% of workers in each … Read more

Google CEO Pichai fields questions on cost cuts at all-hands meeting

Alphabet CEO Sundar Pichai gestures during a session at the World Economic Forum (WEF) annual meeting in Davos, on January 22, 2020. Fabrice COFFRINI | AFP | Getty Images As Google tries to navigate an unfamiliar environment of slowing growth, cost cutting and employee dissent over cultural changes, CEO Sundar Pichai is finding himself on … Read more

Several million people may not have enough

Thanks to inflation, you’re likely paying more for just about everything these days, and car insurance is no exception. Insurers have increased rates by an average of 4.9% so far this year, according to data from S&P Global Market Intelligence, and costs for consumers will likely continue rising, say analysts at Bankrate. For insurers, the … Read more

Here’s why the $39 trillion U.S. retirement system gets a C+ grade

Siriporn Wongmanee / Eyeem | Eyeem | Getty Images The U.S. retirement system may seem flush — yet it ranks poorly in relation to those in other developed nations. Collectively, Americans had more than $39 trillion in wealth earmarked for old age at the end of 2021, according to the Investment Company Institute. However, the … Read more