The US may already be in recession as job cuts accelerate, research CEO says
The ongoing recession may have been triggered way back in October 2023, says Danielle DiMartino Booth.
Economy
Americans will lose full Social Security benefits in 11 years, according to the program's trustees — a year later than expected
The latest report on the future of Social Security detailed the program's ability to pay out full benefits as a retirement crisis looms.
Younger generations might not have to worry about recessions as much as their elders. It would be great news for their job security and stock portfolios.
Data from NBER shows a promising trend: Recessions have become less common in the US.
The US will see a recession by year-end that could spark a 30% drop in the stock market, legendary forecaster Gary Shilling says
Shilling told Business Insider that wave of layoffs could come as employers realize the economy was weaker than they thought.
The US crackdown on Russian trade is working as Putin struggles to fund his war
Trade volumes from partners such as Turkey and China have slagged in the first quarter, as foreign dealers pullback amid a US sanctions threat.
Why so many Gen Zers are struggling to find a connection to work, school, and a sense of purpose
People between the ages of 14 and 24 are in their decisive decade. Many of them are dropping out of school and feeling financially unstable.
Many Gen Zers are teetering on the edge of economic security in their 20s. Here's why it's such a 'decisive decade.'
Gen Zers are navigating their decisive decade — ages 14 to 24. Some are showing signs of becoming "disconnected youth."
The Fed will spark an economic crash by delaying rate cuts, State Street equity research chief says
"We increasingly begin to hear about things breaking down," State Street's Marija Veitmane said.
Advertisement
Advertisement
More Americans are feeling a six-figure salary can't afford them a middle-class lifestyle
In today's big story, we're looking at people who feel like a middle-class salary doesn't equal a middle-class lifestyle.
A boomer sold all of her belongings, retired early, and moved to Turkey — and her expenses are so low that she's able to live 'totally' on her Social Security
"You don't need millions to retire," Debra Crockett said. She found out she could live comfortably abroad with just $500 worth of basic expenses.
Fast food chains are getting the message about soaring prices
Price hikes are keeping some customers away, so many fast food chains plan smaller increases for the rest of the year in a bid to win them back.
A 62-year-old employed 'peak boomer' in California makes too much for affordable housing but lives in her car: 'I'll work until I drop'
Cheryl Simmons, 62, is a parking lot attendant making $42,000 a year who lives in her car in San Diego but makes too much for affordable housing.
China's trade war with the US is unlikely to cool down this election year, so it's working on Europe instead
Chinese leader Xi Jinping is visiting France, aiming to refresh China-France ties amid complaints about China's factory overcapacity.
Hundreds of thousands of fish died in a single reservoir in Vietnam, another sign of how climate change is strangling the economy
Hundreds of thousands of fish died last month in one reservoir in southern Vietnam. An extended drought continues in parts of the country.
Downtown Los Angeles is bustling with new residents. Not so much with office workers, though.
Downtown LA has seen a surge in new residents since the pandemic, and that growth is expected to continue over the next few decades.
Turkey suspended trade with Israel pending a permanent cease-fire in Gaza. Here's what that could mean for Israel.
Turkey said it would halt trade with Israel until there is a permanent ceasefire in Gaza. Here's how much that could cost Israel.
Inflation is scrambling Americans' perceptions of middle-class life
"I feel like I can make ends meet, but I can't really move this lifestyle," one person told Business Insider.
We are 6 months from the 2024 presidential election. Here's where things stand.
Biden and Trump remain locked in a tight race ahead of November, when they're set to compete in an epic rematch of their 2020 contest.
Wall Street big shots may be forced to cancel their summer vacations
Forget the Hamptons and put down the rosé: stubborn inflation and stock market volatility are making this Wall Street's summer of worry.
A full-time Cleveland Uber driver who took home $17,000 in 2023 shares why the full-time gig isn't worth the money anymore
A Cleveland Uber driver who took home $17,000 in 2023 shares the top earnings strategies he's tried, and why he's considering quitting ride-hailing.
Fast food feels more expensive than ever before, and people are sick of it. Here's why.
Gone are the days of McDonald's dollar menu, Subway's $5 footlongs, and NYC's $1 slices. Here's why.
Advertisement
Advertisement
Cairo is bursting at the seams, so Egypt is building a new $58 billion capital 30 miles away. Take a look.
Some political analysts are worried about the eye-watering cost of Egypt's new capital.
A policy that's supposed to create more affordable housing often backfires, leaving cities with higher home prices and rents. There's a way to fix that.
Inclusionary zoning is often so expensive that developers build less housing overall. Making it voluntary — and the incentives generous — would help.
Tech titans love Modi's economic powerhouse India — despite mass unemployment and abject poverty
India is on track to become the world's third-largest economy by 2027, but Narendra Modi faces a pile of problems if he wins a third term in power.
It's getting really hard to find a job that pays well
Job growth is booming in low-paying, traditionally female industries, but high-paying roles might be harder to find.
America's big stagflation scare is over
Friday's jobs report was a 'Goldilocks' print: Not weak enough to ring stagflation bells, but not strong enough to block rate cuts.
A 63-year-old peak boomer is 'incredibly scared' Social Security won't be enough to cover her expenses in retirement: 'I'll probably need to work until I die'
After Diane Senffner, 63, lost her job during the pandemic, she depleted her savings and hasn't been able to find stable work since.
The US could give homeowners a $980 billion stimulus at no additional cost, 'Oracle of Wall Street' says
"As early as this summer, a proposed move could begin to unleash almost $1tn into consumers' wallets. By the autumn, it could be on its way to $2tn."
A 64-year-old 'peak boomer' worries his savings and Social Security won't be enough to retire: 'My biggest fear is finding myself at 75 standing at the door at Walmart.'
David Kirsch, 64, is hoping to live comfortably in retirement — but he isn't sure his savings and Social Security will cover his living expenses.
Biden's new student-loan forgiveness plan has already received over 24,000 comments. There are 2 weeks left to give the administration input.
The Education Department plans to begin implementing Biden's new student-debt cancellation plan this fall, and anyone can provide input on the relief.
Stocks' bull run will end in a bubble or recession, says Bank of America strategist
Stocks are in a "late secular bull market" that's likely to end in tears, Bank of America's Michael Hartnett warned in a research note.
Advertisement
Advertisement
Buying a first home is 'prohibitively expensive' and 'almost impossible' for many, says Janet Yellen
Soaring home prices and surging mortgage rates have ruled out home ownership for many people, said Treasury Secretary Janet Yellen.
The job market is starting to show cracks. Hiring fell short of expectations for the first time in 6 months.
The unemployment rate increased from 3.8% in March to 3.9% in April. The US also added 175,000 jobs, far below the forecast.
Alaska, Delaware, and West Virginia are the only states that still don't have a single billionaire resident
California has nearly 200 billionaires. But Alaska, Delaware, and West Virginia don't have any, according to Forbes.
Gen Zers say they're hooked on fast fashion, but regret their Shein hauls when the 'high' wears off
The thrill of fast fashion on TikTok shop and budget sites like Shein wears off quickly for Gen Zers who can't stop spending.
I was fired from a new job in less than a week after I started. It taught me not every opportunity is a good opportunity.
This Gen Z worker was fired from her new job on the third day and called it a blessing. It taught her to value mental health and respect over money.
Student-loan borrowers in public service will now have to wait until July for their debt relief forms to be processed
The Public Service Loan Forgiveness program is transferring away from student-loan company MOHELA, and any applications for relief are now paused.
Russia's economic survival hinges on prolonging the Ukraine war, think tank expert says
"Should the authorities attempt to halt militarization, a hard landing could add pressure to the government," Elina Ribakova wrote for FT.
The Fed likely won't cut rates until after a recession strikes, research firm says
The Fed is making a big mistake by not cutting interest rates right now, according to GlobalData TS Lombard.
Here's why Americans having fewer kids won't doom the economy
The US birth rate just fell to its lowest level in over 40 years, according to provisional CDC data.
5 indicators that show the US economy is still firing on all cylinders despite slowing GDP
"The workhorse of the US economy remains the consumer, and there's really not much sign of a slowdown," Carson Group said.
China's top climate envoy is coming to the US this month as tensions over green tech run high
The meeting comes as the US and China jockey for power over renewable technology like solar, EVs, and batteries.
New York offers the worst cost-of-living tradeoff of any major city for new college grads. Starting salaries go further in these 14 metros.
New graduates' salaries go the furthest in Austin and Atlanta, but more of them are still moving to New York.
Don't feel too sorry for Gen Z — they're outpacing boomers on income and millennials on home ownership
The median 25-year-old earns a real household income of over $40,000 after taxes and transfers, more than the past six generations did at that age.
Move over, New York and San Francisco, the US's major job hubs are now cities like Charleston and Hilton Head, South Carolina
As people have fled expensive coastal cities for cheaper housing and cost of living in the Sunbelt in particular, employers have followed.
A California Gen Xer who made over $1 million secretly working 2 remote jobs said it allowed him to travel the world, max out his 401(k), and send his kids to private school
A Gen Xer in California made over $1 million secretly working two remote tech jobs. He shared his top pieces of advice for overemployed workers.
Japan just spent billions to boost the flailing yen — and the US may get involved too
Japan spent about $35 billion to prop up the yen on Monday and intervened again on Wednesday. A leading economist says the US may step in, too.
The economy needs to take one of these 2 paths before the Fed cuts interest rates, Powell says
While Jerome Powell said interest-rate hikes were "unlikely," he needs more confidence in inflation data before cutting rates this year.
'Shark Tank' star Kevin O'Leary says interest rates won't budge this year: 'I'm sorry, it's just reality'
"I'm investing under the premise that we're going to be living with this rate cycle staying the same for the rest of the year," he told Fox Business.
The Fed once again holds interest rates steady — with cuts expected later this year
The Federal Reserve announced interest rates will remain unchanged, staying in line with Powell's remarks that more data is needed before any cuts.