Category: Economic News
The macro economy has a large impact on your personal finances. To help you manage your money better we track the import economic trends. Stay up to date so you can be prepared to adjust your personal finance strategies.
Economic News
Economic News
WalletHub Highlights Most Financially Distressed Cities Amid Pandemic
There's no doubt that the COVID-19 pandemic has affected every American and billions of other people around the world. That said, the economic impacts that have been a side effect of the outbreak have been felt more in certain American cities. That's why the personal finance site WalletHub recently compiled a list of the most financially distressed locations amid the pandemic. To arrange the list WalletHub looked at the 100...
Economic News
What Percentage of the Total Federal Taxes Does Each State Pay?
As the 2020 election nears (with voting already occurring in several parts of the country), there's been a lot of talk about how different states in the union compare. For example, some have bemoaned the fact that, while the population of a state has an influence on the number of representatives it has in Congress as well as the number of delegates it has in the Electoral College, each state...
Economic News
Nearly 9 Million Americans May Still Have Unclaimed Stimulus Checks
Earlier this year, as the COVID-19 pandemic all but shut down the United States, the CARES Act authorized direct payments of up $1,200 per adult in an effort to stimulate the economy and keep families afloat. While these checks and direct deposits began being sent out back in April, it seems that some may still be owed their funds. In fact, millions of Americans may still quality for payments —...
Economic News
American Net Worth See Record Increase in Q2 2020
Amid all of the uncertainty and lockdowns that the past few months have brought, it seems that the overall value of Americans' portfolios and homes has soared. As Axios reports, new data from the Federal Reserve shows that U.S. household net worth reached $119 trillion during the second quarter of this year. That marked an increase of $7.6 trillion, which amounts to a 6.8% rise. What's more, the spike was...
Economic News
U.S. Initial Unemployment Claims Amounted to 860,000 Last Week
This morning, the United States Department of Labor released the latest unemployment insurance filing numbers showing that 860,000 workers applied for new benefits last week. The figure is down from an adjusted 893,000 the week prior and is a fraction of the near-record 6.6 million claims filed at the height of COVID-related shutdowns. It's also below the 870,000 that economists polled by MarketWatch had anticipated. Nevertheless, it's still four-times what...
Economic News
United States Economy Brought Back Only 1.4 Million Jobs in August
Last month, more Americans headed back to work as the United States continued reopening efforts. According to the latest report from the Bureau of Labor Statistics, nonfarm payrolls increase by 1.4 million in August. In turn, the unemployment rate fell from 10.4% to 8.4%. Unfortunately, despite the latest gains, the U.S. economy has still seen a net loss of 11.5 million jobs since the COVID-19 pandemic hit earlier this year....
Economic News
