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The Social Security Administration said its 2024 cost-of-living adjustment will be 3.2%, a much smaller bump than the 8.7% increase seniors and other beneficiaries received this year. Mark Miller, a contributor to The New York Times, joined CBS News to discuss the adjustment.
The Consumer Price Index rose 0.4% last month with energy and housing prices contributing to the increase. Greg Robb, a senior economic reporter for MarketWatch, joined CBS News to break down the numbers.
Nearly 9,000 unionized workers at Ford's Kentucky truck plant walked off the job, targeting the automaker's most profitable vehicles.
The Producer Price Index, measuring how much wholesale goods cost, rose half a percentage point in September, slightly higher than the 0.3% some experts expected. More than 40% of the increase can be attributed to a rise in energy costs. Business journalist Kristin Myers joined CBS News to discuss the numbers.
Claudia Goldin, whose work shed light on the gender gap in pay, is just the third woman out of 93 economics laureates to win the Nobel.
The United Auto Workers union says members at Mack Trucks have voted down a tentative five-year contract agreement reached with the company and plan to strike at 7 a.m. Monday.
During President Biden's remarks today on the September jobs market, he took questions on why sentiments among Americans about the economy may not reflect what the strength this month's data yields. Biden also announced more American jobs in manufacturing. CBS News chief White House correspondent Nancy Cordes has more.
Businesses are still hiring at a high rate as consumer spending remains robust. Colby Smith, a U.S. economics editor for the Financial Times, joins CBS News with some of the indicators of where the economy is headed next.
The September jobs report showed that the U.S. economy created 336,000 jobs last month -- a sign that the job market remained strong despite challenges with inflation. Jeanna Smialek, a Federal Reserve and U.S. economy reporter at The New York Times, has more.
Bosses across America's biggest cities are still struggling to get workers back into the office. Andrew Keshner, a MarketWatch reporter, joins CBS News with some reasons why the hybrid model continues to prevail after the pandemic.
People across the country remain "deeply dissatisfied" with the state of the economy even as the rate of inflation declines. Amara Omeokwe, an economics reporter with The Wall Street Journal, shares her latest reporting on why consumers remain angry.
A bipartisan delegation of U.S. senators will travel to China next week. The visit comes amid a time of persistent disagreement over policies concerning Taiwan, the South China Sea and what the U.S. calls genocide of the country's Uyghur population. Patrick Cronin, Asia-Pacific security chair at the Hudson Institute, joins CBS News to discuss what's at stake for the visit.
Tens of millions of Americans are expected to resume paying student loans after a three-year pandemic-era pause. CBS News correspondent Carter Evans has more. Plus, Politico education reporter Michael Stratford explains how the Biden administration is attempting to ease the burden for borrowers.
As the U.S. economy sees increased inflation and interest rates, many young adults are finding themselves sinking deeper into debt. Catey Hill, managing editor for MarketWatch Picks, joined CBS News to discuss how accumulating debt could have a long-term effect on Gen-Z Americans.
Wall Street index futures kicked off October on a high note after lawmakers averted a government shutdown. Investors will wait to hear from Federal Reserve Chair Jerome Powell on Monday for more on the central bank's interest-rate path. CBS News contributor Javier David, managing editor for business and markets at Axios, has more.
The typical American cannot afford to buy a home in a growing number of communities across the nation under common lending standards, according to a new report from real estate data provider ATTOM. Researchers examined the median home prices last year for roughly 575 U.S. counties and found that home prices in 99% of those areas are beyond the reach of the average earner, who makes $71,214 a year, according to ATTOM.
The average interest rate on a credit card in November 2021 was 16.4%. As of September, the average credit card interest rate is nearly 24.5%. Javier David, managing editor at Axios, joined CBS News to discuss other ways rising interest rates are putting pressure on Americans.
The U.S. Real GDP increased at an annual rate of 2.1% for the second quarter of 2023, according to a revised report released Thursday by the Bureau of Economic Analysis. Julia Pollak, chief economist for ZipRecruiter, joined CBS News to discuss the numbers.
Americans were able to save more money during the pandemic because they were spending less due to lockdown restrictions, but new data from the Federal Reserve shows that excess money has now run out for most people. Alex Tanzi, a senior editor for the U.S. economy team at Bloomberg, joined CBS News to discuss how the rich have gotten richer and everyone else has, at best, what they had before the coronavirus pandemic.
Ukrainian forces have been making slight gains in their counteroffensive against Russia. But as "The Economist" reports -- this plan may only be a short-term solution in a long-term conflict. Zanny Minton Beddoes, editor-in-chief of The Economist, joins CBS News to discuss her recent trip to the war-torn country -- and her conversation with Ukrainian President Volodymyr Zelenskyy.
While jobless claims are at an eight-month low, unemployment rates vary across the U.S. Since last year, the unemployment rate in 18 states has fallen by half a percentage point or more. But three states, plus Washington, D.C., have seen claims rise. Al Root, senior writer for Barron's, joined CBS News to discuss the job market.
Roughly 45% of Americans ages 18 to 29 are living at home with their families — the highest level in 70 years, new data shows.
A recent CBS News poll finds that 65% of voters disapprove of the way President Biden is handling the economy compared to just 35% who approve, with lack of home affordability likely factoring into those numbers. Middle-income households, or those with annual earnings of up to $75,000, can afford only 23% of the homes listed for sale in the U.S., according to data posted over the summer from the National Association of Realtors. Mark Niquette, economy and politics reporter for Bloomberg News, joined CBS News to discuss the home-buying situation.
CBS News business analyst Jill Schlesinger joins "CBS Mornings" to discuss the Federal Reserve's decision to hold interest rates steady this month. She also addresses the United Auto Workers union strike and how it it might impact the economy.
The Bank of England followed the U.S. Federal Reserve's lead Thursday, leaving interest rates unchanged for the first time in nearly two years, but the U.K.'s rate remains at a 15-year high of 5.25%. Martin Baccardax, senior editor and chief markets correspondent for financial news website TheStreet, joins CBS News to talk about the pause in rate hikes.
X's AI chatbot Grok, the AI-search engine Perplexity and Google's AI summaries all provided false information in the aftermath of Charlie Kirk's assassination.
Erika Kirk, the widow of Charlie Kirk, speaks out for the first time since her husband's death on Wednesday.
Mr. Trump said that NATO's commitment to winning the war in Ukraine "has been far less than 100%."
Conservative activist Charlie Kirk was shot and killed on Wednesday while speaking an event at Utah Valley University.
An ICE agent shot and killed a man in Franklin Park, Illinois, Friday morning after authorities say he attempted to drive into agents as they tried to make an arrest.
A U.S. Secret Service agent who wrote a negative social media post about Charlie Kirk has been put on leave, U.S. officials said Friday.
Missouri is the third state to seek to redraw its congressional maps ahead of next year's midterms.
The Justice Department filed a $125 million lawsuit against Uber, alleging the company discriminates against disabled passengers.
Fourteen animal shelter workers were evacuated and went to the hospital. The shelter's 75 dogs and cats were relocated or put into foster homes.