A shortage of qualified workers across the country is encouraging companies to raise wages in order to attract direly needed employees. The competition for employees is enticing workers to quit their current jobs for higher paying opportunities. Each month the U.S. Department of Labor releases employment data that includes how many workers are actually quitting their jobs. The data is considered a critical barometer of the labor market’s health and an indicator of economic gr

Natural gas prices soared to levels not seen since 2008 as increased demand and limited supply have pushed prices to nearly triple from...

Various factors have contributed to bacon’s higher costs over the past year, including rising feed costs, processing costs, increased demand, and newly passed animal confinement rules. As the pandemic shuttered businesses over the past year and kept workers home, processing plants that produce meat products, such as bacon, weren’t able to fulfill demand. Grains and other feed products increased in costs concurrently, adding pressure for producers to increase prices. A Califor

Each month the Department of Commerce releases its Gross Domestic Product (GDP) report. This report is the single most recognized...

This past month, around mid-July, millions of Americans received a tax credit deposit to their bank accounts. This was a surprise for many, yet part of the pandemic relief program that slated billions to eligible families with children. In March of this year, Congress expanded the child tax credit to $3,600 per child for the year, from $2,000. The increased credit was in response to the financial fallout of the pandemic in order to assist families nationwide across all income

This past month, around mid-July, millions of Americans received a tax credit deposit to their bank accounts. This was a surprise for many, yet part of the pandemic relief program that slated billions to eligible families with children. In March of this year, Congress expanded the child tax credit to $3,600 per child for the year, from $2,000. The increased credit was in response to the financial fallout of the pandemic in order to assist families nationwide across all income

The Centers for Disease Control and Prevention reported that the U.S. birthrate fell 4% to about 3.6 million births over the past year,...

With the pandemic subsiding and alleviated restrictions enticing consumers to head out, restaurants have seen an enormous surge in...

The United States Postal Service (USPS) remains an integral part of the economy and the country’s infrastructure even as the popularity...

A growing demand for workers by eager companies to fill positions nationwide has led to unfilled job openings exceeding 8 million as of the end of March, according to the most recent data available from the Department of Labor. Economists and analysts believe that generous unemployment benefits along with stimulus payments have discouraged many of the unemployed from returning to work. Lower paying job positions are the toughest to fill as unemployment payments equal if not e

The proliferation of vaccinations, along with pent up demand for travel has driven Americans to finally leave home and head out. The...

With home prices rising roughly 12% from February 2020 to February 2021, equity levels have risen producing heightened wealth among millions of homeowners. Elevated equity has allowed homeowners to remodel and improve existing homes, resulting in further home value increases. A tight supply of homes nationwide has added to rising home values as growing demand for homes has produced multiple offers on homes. The lack of inventory has also locked homeowners into their homes for

Wealth, as measured by assets owned by individuals among all income brackets, surprisingly is not as perceived by most. Federal Reserve...

While the three stimulus programs amount to over $4.5 trillion were mostly funded by government debt, the recently introduced $2.25 trillion infrastructure plan will be primarily funded by tax increases. Preliminary indications are that the anticipated tax hikes will target both corporations and high earning individuals. The tax increases may be the largest since 1993. The following are among the proposals currently being considered: Raising the corporate tax rate to 28% from

The IRS has issued an alert regarding scam phone calls directly to taxpayers nationwide. The calls may be in person or via ‘robocalls’. Scammers claim that delinquent taxes are owed and that payment must be made or the taxpayer’s social security number will be suspended or canceled. The IRS advises that when in doubt, immediately hang up and ignore the call. Taxpayers should not disclose any sensitive information to unknown callers, including social security numbers, bank acc

With over 160 million stimulus payments sent with the first round of pandemic relief efforts, many in receipt of the payments are asking whether the payments are taxable or not. The IRS has clearly stated that stimulus payments, regardless of income or status, are not taxable. For those that did not receive a stimulus payment in 2020 but believe that they were due one, a filing for the Recovery Rebate Credit can be done. In essence, anyone who didn’t get a check can request a

Even before the pandemic materialized, banks and finance companies were already starting to tighten lending standards. The low rate...

Surveys done each week by the U.S. Census Bureau are detailing what Americans are doing with their stimulus payments. Data gathered from...

The Coronavirus Relief Bill extends and modifies several provisions first enacted by the CAREs Act in March 2020. The package extends...

Homeowner equity as a percentage of home values reached an all time high in the 2nd quarter of 2020, surpassing the most recent previous highs in 2001. Federal Reserve data revealed that homeowners had achieved over 65.5% equity in their homes, a level not reached since the early 2000’s. Low interest rates have enabled mortgage holders to pay down their mortgage balances rapidly over the past twenty years, concurrently adding to their overall net worth. Homes rank as the sing