Existing home sales rose a strong 2 percent to a 5.59 million annualized pace in July, marking the third straight month of sales increases. But the share of first-time buyers fell as rising costs and a lack of affordable homes for sale pushed many out of the market.
According to a new study, the value of homes near Trader Joe’s grocery stores have grown more quickly than those near its pricey yet equally beloved counterpart, Whole Foods.
The US economy added 215,000 jobs in July, and the unemployment rate held steady at 5.3 percent. But wage growth and labor force participation are still concerns, even as the Fed moves toward raising interest rates by the end of the year.
Even in industries with traditional schedules, workers are more likely to do their job outside regular office hours and respond to work e-mails off the clock. That flexibility can lead to better work/life balance, but at the risk of blurring the boundaries between an employee's job and personal life.
Existing home sales rose 3.2 percent to a 5.49 million annualized pace in June as stable job prospects and a much-improved economy encouraged buyers. But thanks to shifting demographics and the lingering effects of the housing crash, more Americans are still renting than they have in decades.
The Labor Department released detailed guidelines this week for determining whether businesses should designate their workers as "employees" or "independent contractors," and suggested that the latter classification has been used a bit to liberally as companies re-organize and streamline costs.
US retail sales fell 0.3 percent in June, a far cry from analysts' expectations for a modest gain. As the economy has recovered well elsewhere, the weakness in the consumer sector has weighed heavily on the Federal Reserve’s eventual decision to finally raise long-term interest rates.
Jeb Bush drew fire for his comments about American workers, but he's right that millions of part-time employees need to work more hours. What's less clear is how he would make it happen.
General Mills announced Tuesday that it will commit to using 100 percent cage-free eggs as part of a program to improve its animal welfare standards. The shift may take some time but comes as the global egg industry has largely moved away from eggs produced by hens in cramped battery cages.
The US economy added 223,000 jobs in June, and the unemployment rate fell to 5.3 percent. While factors like slow wage growth and low participation remain a concern, hopeful long-term prospects for workers were given an extra boost by President Obama and the Labor Department this week.
President Obama and the Labor Department unveiled a plan this week to make at least 5 million additional salaried workers eligible for overtime pay. Pro-business lobbying groups are denouncing the changes, but economists argue that better overtime pay rules will benefit businesses and workers alike.
Consumer spending rose 0.9 percent in May and posted its biggest monthly increase since 2009, according to data released Thursday by the Commerce Department.
General Mills will be removing artificial colors and flavoring from its cereal products, the company announced Monday. The announcement comes as US consumers turn away from cereal in favor of options either more nutritious or more convenient.
Pizza Hut has confirmed that a line of its 'Hot Dog Bites Pizza' will be available in its 6,300-plus US locations starting next week. Wildly popular overseas, the entrée consists of a large one-topping pizza surrounded with 28 pigs-in-a-blanket.
Retail sales rebounded strongly last month, and a revised March posted the measure's biggest monthly gain in five years. The May retail sales result indicates that the strong job market finally is starting to bear fruit for the consumer economy.