Getty ImagesAt American Express, consumers are continuing to open high-fee credit cards and splurge on luxuries like travel. But for lending firm Upstart, there's a strong interest in microloans as cash-strapped Americans try to scrape by.That juxtaposition underscores the growing picture of bifurcation among income brackets in America. And adds...
Category: Economy
Weekly jobless claims jump to 231,000, the highest since August
Initial filings for unemployment benefits have hit their highest level since late August 2023, a potential sign that an otherwise robust labor market is changing.Jobless claims totaled a seasonally adjusted 231,000 for the week ending on May 4, up 22,000 from the previous period and higher than the Dow Jones...
Stanley Druckenmiller gives Biden’s economic policies an ‘F,’ blames the Fed for reigniting inflation
Reckless government spending enabled by the Federal Reserve is hurting average Americans and endangering President Joe Biden's chances at getting reelected, billionaire investor Stanley Druckenmiller said Tuesday.During an appearance on CNBC's "Squawk Box," the head of Duquesne Family Office who made his name betting against the British pound in the...
Immigrant workers are helping boost the U.S. labor market
The strong jobs market has been bolstered post-pandemic by strength in the immigrant workforce in America. And as Americans age out of the labor force and birth rates remain low, economists and the Federal Reserve are touting the importance of immigrant workers for overall future economic growth.Immigrant workers made up...
Here’s what to expect from the April jobs report on Friday
A jobseeker takes a flyer at a job fair at Brunswick Community College in Bolivia, North Carolina, on April 11, 2024.Allison Joyce | Bloomberg | Getty ImagesHiring likely continued at a brisk pace in April as investors look for any cracks in the labor market that could sway the Federal...