The increase is the largest in nearly four decades. Roughly 70 million Social Security beneficiaries will see a 5.9 percent increase in their payments beginning next year. The…
Read MoreEconomy
Higher Inflation Creating Pressure on Consumers
President seeks help from the private sector. The Department of Labor reported this week that consumer prices increased solidly in September. Americans are now paying more for food,…
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President Signs Bill Temporarily Raising Debt Limit
Federal default averted until December. President Joe Biden signed legislation on Thursday temporarily increasing the government’s borrowing limit to $28.9 trillion, delaying the deadline for debt default until…
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Unemployment Claims Drop by 36,000
New unemployment applications at the lowest level since the start of the pandemic. The Department of Labor released its report on Americans applying for unemployment insurance on Thursday.…
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Social Security Cost of Living Benefit Increased for 2022
5.9% increase aims to address rising inflation. The Social Security Administration announced on Wednesday that it would be increasing its cost of living adjustment (COLA) by 5.9% in…
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President Expresses Confidence in Slow Employment Gains
Growth stunted by delta variant and vaccine mandates. Economists projected that in September the U.S. employment rate would grow by 500,000 jobs. However, due to the Delta COVID-19…
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Labor Department Releases Jobs Report
Economy still sluggish despite a record number of job openings. The Department of Labor released its monthly jobs report on Friday, which highlighted the slow recovery from the…
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Consumer Confidence Hits Seven Month Low
Commerce Department issues report on inflation-adjusted spending. The Department of Commerce released a report that reflects U.S. consumer confidence dropping for the third straight month in a row,…
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Inflation Hits 30-Year High
Numbers are above the Federal Reserve’s target. According to data released Friday by the Bureau of Economic Analysis, inflation has hit the highest rate in 30 years, fueling…
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President Meets With Business Leaders
Companies with over 100 employees are subject to mandatory vaccination or weekly testing. On Wednesday, President Biden met with executives of several large corporations regarding COVID-19 vaccine requirements…
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