Chris Martin knew he needed a bigger car as the birth of his fourth child approached, but he and his wife were already $14,000 underwater on their two vehicles. So the couple proposed an unusual two-for-one deal with an Atlanta-area auto dealer in 2020: trading in both of their vehicles so they could afford a […]
Tag: inflation
Americans are spending, despite inflation
Something unexpected is going on in the U.S. economy. Inflation remains high, yet many Americans went on a spending spree last month, eating out at restaurants and shopping for cars. In ordinary times, that additional spending would be welcome news to an economy that’s heavily dependent on consumer dollars. But there’s a catch: All that […]
Worst housing market downturn since 2008
U.S. homeowners have lost a staggering $2.3 trillion in market value since June as higher interest rates drive down demand in the formerly red-hot housing market, and many economists predict the decline will continue throughout the year, as mortgage costs remain elevated and keep sidelining potential buyers. The total value of U.S. homes has fallen […]
500,000 CA residents flee state in last 2 years
California’s population fell by 500,000 people between April 2020 and July 2022 as residents fled the state in droves to find greener pastures. Census data showed migration out of the state surpassed those coming into the state by more than 700,000 throughout the two-year period, according to the Los Angeles Times. California’s major cities have […]
Dell to layoff 6,650 as demand for PCs plummets
Computer manufacturer Dell is set to cut about 6,650 jobs representing 5 percent of its global workforce, according to a report from Bloomberg. Announced in a memo on Monday, Dell Co-Chief Operating Officer Jeff Clarke said that the company’s previous cost-cutting measures, such as a pause on hiring and limitations on travel, have proved insufficient, […]
35% of US millennials rely on parents to pay their bills
In the wake of the COVID-19 pandemic, conversations around workplace burnout and mental health are coming to the forefront. One of the groups leading the charge to bring these issues to light is millennials. But are some millennials taking matters too far? Millennials, or those born between 1981 and 1996, are coming under fire after […]
US College enrollment still in a ‘deep hole’
Undergraduate college enrollment is continuing its years-long decline, though at a much less drastic rate than during the pandemic. According to data released Thursday, Feb. 2, U.S. colleges and universities saw a drop of just 94,000 undergraduate students, or 0.6%, between the fall of 2021 and 2022. This follows a historic decline that began in […]
Layoff landslide from tech companies in 2023
Companies across the tech industry have announced layoffs, affecting thousands of workers in the first few weeks of 2023. Sales at top tech firms have retreated from the blistering pace attained during the pandemic when billions across the world were forced into isolation. Customers stuck at home came to rely on delivery services like e-commerce […]
To Tip or not to Tip, that is the question
Tipping is encountering its own form of inflation, with consumers commonly facing digital kiosks that ask for tips that start at 18% or 20% and can go as high as 30% — a far cry from the 15% that used to be traditional. And more types of employees are now asking for tips than in […]
Over 200,000 Big Tech layoffs in last year
Explosive growth has been the norm in the tech sector for the past decade. When the Covid-19 pandemic ravaged the world and moved more of daily life online, tech hiring blazed across Silicon Valley even more. Some major tech companies, like Amazon and Facebook parent company Meta, doubled the number of people they employed to […]
10,000 jobs cut at Microsoft as spending slows
Microsoft will cut 10,000 jobs in the latest round of staff redundancies to hit the tech industry. It will affect up to 5% of its global workforce and cost the business $1.2 billion in severance and reorganisation costs. Microsoft chief executive Satya Nadella said that while customer spending had grown during Covid, more people were […]
Much of San Francisco an ‘Open Air Drug Market’
Ricci Wynne stepped out of his home in San Francisco’s Civic Center neighborhood and witnessed a typical sight: masked drug dealers dressed head-to-toe in black as addicts act erratically — if they’re not slumped over. And the bus stops, he said, have been “hijacked” as open-air drug markets. “I pay $2,500 a month for a […]