Payroll
Inflation Rate Drops for 6th Month; Housing Market Still High
There’s good news on the inflation front: December 2022 marked the sixth straight month that the U.S. rate of inflation has decreased.
U.S. Economy Expands at 2.9% Rate in Q4
The U.S. economy expanded at a healthy pace in the fourth quarter, though signs of slowing underlying demand mounted as the steepest interest-rate hikes in decades threaten growth this year.
ADP Says 107,000 Jobs Added in January; Salaries Up 7.3%
Private sector employment increased by 106,000 jobs in January and annual pay was up 7.3 percent year-over-year, according to the January ADP National Employment Report.
Companies With Job Openings Are Cutting Degree Mandates
64% of hiring managers say the bachelor’s degree requirement was eliminated to increase applicants.
U.S. Job Openings Pass 11 Million
Vacancies at U.S. employers unexpectedly increased at the end of 2022, illustrating a solid appetite for labor that the Federal Reserve sees as one of the last hurdles to bring down inflation.
64% of Americans Live ‘Paycheck-to-Paycheck’
The share of Americans who say they live paycheck-to-paycheck climbed last year, and most of the new arrivals in that category were among the country’s higher earners, a new study shows.
U.S. Housing Market Down 2.5% Since June 2022
Last year’s run-up in mortgage rates cast a chill on the housing market, leading to the worst annual slide in sales of previously owned homes in more than a decade.
New Law Boosts Catch-Up Retirement Contributions
New legislation dubbed “SECURE Act 2.0,” a follow-up to the 2019 SECURE Act, provides several enhancements, on top of inflation indexing already in place for certain plans.