A leading Federal Reserve official warns that problems of poorer Americans could threaten economic growth. In an interview Saturday (Nov. 8) with the Financial Times (FT), New York Fed President John Williams says data and conversations with community leaders spotlighted the affordability crisis facing many...
Suppose Thanksgiving is America’s annual CFO meeting, one part nostalgia, two parts spreadsheet. In that case, it’s also a perfect mirror for how the digital economy has re-wired the way we eat, shop and schlep to Grandma’s house. The menu is still familiar, but the...
As the government shutdown loomed, PYMNTS Intelligence last month found consumers’ optimism about their financial stability weakened as income growth trailed rising expenses. Four in 10 consumers said their paychecks are not keeping up with higher prices, and more than half reported that inflation continued...
Artificial intelligence (AI) and cost-reduction caused American employers to cut 153,074 jobs last month. That’s a 175% jump from October of 2024 and 183% higher than the 54,064 cuts announced in September of this year, per a Thursday (Nov. 6) report by outplacement and executive coaching company Challenger,...
The private sector added 42,000 jobs in October, with the trade, transportation and utilities industry leading the way, ADP said Wednesday (Nov. 5). That industry was among five that added jobs during the month, while another five industries shed jobs, the human resources and payroll...
More than 500 travel organizations and companies signed a letter calling on Congressional leaders of both parties to pass a clean continuing resolution to reopen the federal government in time for services to be restored before Thanksgiving. Sent on the letterhead of the U.S. Travel...
An end to the government shutdown could be in sight, according to Goldman Sachs. Increasing operational and political pressures could push lawmakers to striking a compromise, an analysis by the Wall Street bank said, per a report Monday (Nov. 3) by Seeking Alpha. The analysis...
On the surface, consumer spending has proved durable as headline retail sales and credit data remain solid. Yet beneath those numbers, a different current is building, one showing that lower-income consumers are shifting where they’re spending their wages. Chipotle Flags Pressure on Value-Conscious Diners Nowhere...
The government shutdown is putting at risk $3 billion a week that would have been earned by 65,500 small business contractors, the U.S. Chamber of Commerce said in an article posted Thursday (Oct. 30). That revenue is at risk because the contractors’ work can come...