The wealth gap between upper and middle income US families is now at its widest point in at least 30 years, according to a Pew study released Wednesday. Rich Americans have begun to regain the wealth lost during the Great Recession, while lower and middle income families lag behind.
Retail sales rose 0.7 percent in November – their biggest monthly gain in eight months despite a relatively weak Black Friday weekend. Cheap gas prices and higher wages helped fuel the November retail sales growth.
General Mills will start selling 'Cheerios + Ancient Grains' a new variety containing small amounts of quinoa, Kamut wheat, and spelt. The new Cheerios cereal comes as the popularity of grains like quinoa are on the rise. Cereal? Not so much.
The economy added 321,000 jobs last month, its best performance in nearly three years and nearly 100,000 over what analysts had expected. It was also the biggest month for wage gains since the summer, and the unemployment rate held steady at 5.8 percent.
Fast-food and other low-wage workers walked off the job once again Thursday in support of a $15 per hour minimum wage and access to union rights. Now in its third year, the "fight for $15" has expanded to include more sectors of the industry and more causes, with protests in Ferguson, Mo., and on the steps of the US Supreme Court.
Auto sales climbed in November, with sales of SUVs and trucks coming in especially strong. Chrysler saw a 20 percent climb in auto sales since November 2013, thanks to strong performance from Jeep SUVs and Ram trucks. GM, Honda, and Toyota also saw impressive gains.
The '12 Days of Christmas' gifts will set your true love back $27,673.21 this year – a 1 percent increase from last year, according to PNC Wealth Management. The '12 Days of Christmas price increase' was mostly driven by high poultry prices, especially geese.
Existing home sales picked up an unexpected 1.5 percent to a 5.26 million annualized pace in October, according to data released Nov. 20 by the National Association of Realtors (NAR). It was the fastest rate for existing home sales since September of last year.
Retail sales in the US increased an unexpected 0.3 percent in October as falling gas prices freed up discretionary spending, according to the Commerce Department. The strong retail sales report left retailers optimistic about the crucial holiday shopping season.
The economy added 214,000 jobs in October, ticking the unemployment rate down to 5.8 percent – a new six-year low. Many of the supporting figures in the October jobs report, including a dip in long-term unemployment and a small increase in labor participation, were also cause for optimism.
The Federal Reserve announced the end of its landmark quantitative easing program Wednesday, and investors found the Fed's overall policy statement more hawkish than expected. Here are the highlights of today's Federal Reserve policy statement.