All The New Economy
What's behind the world's millionaire boom?In 2014, the world’s millionaire population grew to 14.6 million, with nearly $57 trillion in wealth. The distribution of wealth for both millionaires and Average Joe's continues to be quite stark.
US retail sales jump 1.2% in May. Is the rebound complete?Retail sales rebounded strongly last month, and a revised March posted the measure's biggest monthly gain in five years. The May retail sales result indicates that the strong job market finally is starting to bear fruit for the consumer economy.
How Millennials are dealing with a lack of affordable housingWhen it comes to both owning and renting homes in major US cities, Millennials still face big challenges. But they're also coming up with innovative solutions.
Economy adds 280K jobs in May, but the definition of 'job' is changingThe US economy added an impressive 280,000 jobs in May, and the unemployment rate hit 5.5 percent. Friday’s report, though undeniably encouraging, comes as the idea of employment, and what constitutes a traditional employer/employee relationship, is becoming more muddled.
Pending home sales jump 3.4% in April, capping a great week for housingPending home sales, a measure of contracts that have been signed (but not finalized) for home purchases, climbed to a nine-year high in April. Combined with a surge in new home sales, the strong pending sales data bodes well for the months ahead.
For Janet Yellen and the Fed, falling unemployment hardly mattersJanet Yellen said Friday that the Federal Reserve is still on track to raise rates later this year. She was cautious in her assessment of the job market, despite an unemployment rate nearing what many would consider full-strength.
US existing home sales fall 3.3% in April. Is homeownership affordable anymore?Existing home sales fell to a 5.04 million annualized pace in April, even though homes sold at their fastest clip in nearly two years. The housing market is facing the same conundrum as other areas of the economy: things are improving, but not enough to translate into a change in the way most people live.
With gas prices low, what are Americans spending on instead?Gas prices tumbled to rarely seen lows in late 2014 and early 2015, leaving many Americans with a little more pocket money than usual – money that didn’t go to a new pair of designer shoes or paying down student debt.
It takes moral capital to build a villageSuccessful foundations of the future will use the SMIRF plan – nontraditional forms of capital beyond financial grants – to make communities more of a community.
April retail sales fall flat as mall stores close in drovesUS retail sales were flat in April, according to the Commerce Department. Consumers simply aren’t parting with their money as easily as they used to, which has left one segment of the retail industry reeling: stores in or near America's shopping malls.
Wages and consumer spending are rising. But are they connected anymore?A leading measure of US wage growth is finally accelerating after a long period of stagnation, and consumer spending is showing small signs of life. But increasingly, instead of spending that extra money, Americans are saving and paying down debts.
Existing home sales surge 6.1 percent in March as market heats upExisting home sales in the US surged a surprising 6.1 percent in March to a 5.19 million annualized pace, according to the National Association of Realtors (NAR). It was the best monthly performance for existing home sales in a year and a half.
Millennials are poor, in debt, and happy with their financesMillennials are more optimistic about their finances than any other age group, according to a recent survey, despite weathering a student debt crisis and the worse recession in 80 years to start their young working lives. Millennials reported more confidence in their job security and savings than other age groups.
Mattel needs to reinvent Barbie and Hot Wheels: Can you help?Mattel, the maker of Barbie and Hot Wheels, is partnering with Quirky Inc. to re-imagine the brand and ask inventors to submit toy proposals. Is crowdsourcing their brand a good idea?
Reflecting the wage gap, store charges women 76 percent of men's priceThe Less Than 100 project seeks to highlight the US wage gap by asking men and women to "pay what you're paid." Will letting women pay proportionately to their wage spark constructive conversations or controversy?
US retail sales spring back 0.9% in March. Is the economy back on track?Retail sales increased 0.9 percent in March after three straight months of declines, according to the Commerce Department. The rebound in retail sales suggests the economy may be pulling out of the soft patch that began the year.
Why less than half of Americans are investing in the stock marketFifty-two percent of Americans don’t have any holdings in the stock market, according to a Bankrate survey released Thursday. Lack of funds is the main reason, but many Americans still say the stock market is ‘too risky.’
US economy added just 126,000 jobs in March. Why the chill?The economy added just 126,000 jobs last month, a far cry from the 248,000 economists were expecting, the Labor Department reported Friday. Harsh winter and tumbling oil prices, which have hampered other parts of the economy, finally caught up with the job market in March.
Consumer spending barely rises in February. Shoppers are saving instead.Consumer spending rose just 0.1 percent in February, the Commerce Department reported Monday. A harsh winter helped put a damper on consumer spending, but so did higher gas prices and consumers choosing to boost their savings or pay down debt rather than go shopping.
For the best retirement, don’t move to FloridaFlorida doesn’t even crack the top 20 of a new survey ranking the best states for retirement. Instead, head west for the most retirement-friendly states, including Colorado, Montana, and Wyoming. Which state topped the list?
