U.S. Economy

Food insecurity continues to rise because the cost of living increases squeeze millions of Americans, forcing them to make hard decisions on where to allocate their funds.

The national average for a gallon of gas is steadily declining. If both gas demand and oil prices stay low, drivers can anticipate additional decreases in pump prices leading up to Thanksgiving.

The resumption of student loan payments is hitting consumers hard, forcing them to cut back on holiday expenses. Teachers are feeling a particular strain and considering moving jobs.

Although economists noted that we have avoided a recession in 2023, we are not out of the woods yet. There are risks to the global economy that could create tensions in the workplace.

Several economists warned President Biden that the 2024 election would be very close as voters were still sour on the president's handling of the economy.

Nationwide gas prices continue to fall as demand likely remains flat. The steady decline could accelerate following recent drops in the price of oil, according to AAA.

A new report by the Transparency Foundation says middle-class families are facing a particular hardship in California because of the high cost-of-living expenses.

Over 30% of wealthy homebuyers in September bought a home in all cash, allowing them to avoid interest. Rates are still hovering just under 8%, a high not seen in two decades.

Airbnb made changes to its reviews and ratings page to ensure users know what to expect when booking. It's among a slate of changes the company made in response to feedback.

Bed Bath & Beyond.com CEO Jonathan Johnson said the company invested $150M to launch the brand, reignite the customer profile and ensure it maintained its core customers as it begins trading on the NYSE.

Gas prices have edged lower amid weaker gas demand and declining oil prices. Thousands of gas stations in the U.S. are now selling unleaded gasoline for below $3 a gallon, according to AAA.

There is one reason economic growth has beaten long-term predictions to date.

Workers are already facing an onslaught of headwinds from persisting inflation and high borrowing rates. On top of it, some employers are considering holding back on raises next year.

Although gas prices declined and demand weakened this week, the pace was slow. The speed at which prices are falling is being held up by the cost of oil, according to AAA.

The costs of farmland and feed for livestock have increased, making it difficult for family farmers to maintain their low prices of animal products, including meat and milk.

More people are looking to leave Austin, Texas, once deemed the tip migration destination in the nation during the pandemic. However, monthly housing costs for some homes nearly doubled.

Metros within Kansas, Indiana and Wisconsin were among the top emerging housing markets in the U.S. this fall, according to the WSJ/Realtor.com Fall 2023 Emerging Housing Markets Index.

National Association of Realtors Chief Economist Lawrence Yun argued that certain policy changes could boost housing supply. The shortage of homes is keeping upward pressure on prices.

A significant number of buyers are backing out of real estate deals in part because of rising borrowing rates, which are inching closer to 8%. They are currently hovering around 7.63%.

Chevron Corporation is acquiring rival Hess Corporation in a $53-billion all-stock transaction that it says will upgrade and diversify its portfolio.