Economy

Children listen to an instructor reading a book

America is facing a child care crisis

The American Rescue Plan of 2021 provided $39 billion in child care relief funds that are starting to run dry.

 | Diane Duenez

Forklift drivers transporting pallets of product.

Wholesale inflation in US slowed further in December to 6.2%

The latest year-over-year figure was down from 7.3% in November and from a recent peak of 11.7% in March.

 | AP

A portion of the 1040 U.S. Individual Income Tax Return form.

30% of Americans relying on tax refunds to make ends meet this year

Gen Z (40%) and millennials (46%) count on the tax-time cash infusion the most, according to the study by Qualtrics on behalf of Credit Karma.

 | Brittany Anas

Cincinnati Bengals quarterback Joe Burrow.

Joe Burrow, Blake Griffin among athletes investing in farming

Athletes are buying land and leasing the land to farmers, earning a single-digit-percentage annual return on the investment.

 | Patrick Griffin

A man uses the NFC payment Visa system at the Mobile World Congress

How is the role of cash evolving?

Digital banking is on the rise. About 197 million people used it in 2021 and that number increased to 203 million in 2022.

 | Scripps News Staff

Sale sign displayed at clothing store.

US consumer inflation eased again to 6.5% in December

The Federal Reserve doesn’t expect inflation to slow enough to get close to its 2% target until well into 2024.

 | AP and Bianca Facchinei

Ascutney Mountain in Vermont

Resurgence of a Vermont ski area brings hope to rural communities

Ascutney Mountain first started welcoming skiers in the winter of 1935. Seventy-five years later it went into foreclosure.

 | Chris Conte

Person inserts a debit card into an ATM.

Ways To Decrease Economic Anxiety

While you might be concerned about the economy in the short term, experts say not to lose sight of long-term goals.

 | Justin Boggs

Traffic on the Brent Spence Bridge passes in front of the Cincinnati skyline while crossing the Ohio River

President Biden's New Year Pitch Focuses On Benefits Of Bipartisanship

President Biden and Senate Republican leader Mitch McConnell will make a rare joint appearance in McConnell's home state of Kentucky on Wednesday.

 | AP

A hiring sign is displayed at a restaurant

Applications For U.S. Unemployment Aid Rose Slightly Last Week

Applications for unemployment aid for the week ending Dec. 24 climbed 9,000 to 225,000, the Labor Department reported Thursday.

 | AP

A shopper carries bags down Fifth Avenue.

Holiday Sales Up 7.6% Despite The Squeeze Of Inflation

U.S. sales between Nov. 1 and Dec. 24, a period that is critical for retailers, were fueled by spending at restaurants and on clothing.

 | AP

People walk into a Best Buy store.

An Inflation Measure Watched By The Fed Eases To 5.5%

Inflation still remains well above the 2% year-over-year growth the Fed wants to see.

 | AP

A woman passes a hiring sign in front of a business.

U.S. Applications For Jobless Claims Rose Slightly Last Week

Jobless claims for the week ending Dec. 17 inched up by 2,000 to 216,000 from the previous week’s 214,000, the Labor Department reported Thursday.

 | AP

A UPS worker pushes cart of packages through snowfall.

U.S. Economy Grew 3.2% Last Quarter, Outperforming Estimates

The economy's gross domestic product — output in goods and services — grew 3.2% from July through September.

 | AP

A sign is displayed in front of a home for sale in Prospect Heights, Ill.

Housing Market Sees Fewer First-Time Homebuyers

The National Association of Realtors found first-time homebuyers made up just 26% of all homebuyers this year.

 | Carlos Mendez

A hiring sign displayed at a business.

Fewer Americans Filed For Jobless Benefits Last Week

Applications for jobless claims fell to 211,000 for the week ending Dec. 10, down by 20,000 from the previous week, the Labor Department reported.

 | AP

People shop for groceries at a produce market.

U.S. Inflation Drops To 7.1% Over Past 12 Months

November consumer prices dropped sharply from 7.7% in October, but grocery prices remained a troubled spot last month, rising 0.5%.

 | AP

a stack of credit cards

Feds Warn Of Dangers Of Buy Now, Pay Later

Buy now, pay later companies are giving people extra credit, but the government warns there are some downsides — fees, charges and data harvesting.

 | Cat Sandoval

A "for sale" sign outside of a home.

Average Long-Term Mortgage Rate Falls A Fourth Straight Week

Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year rate dipped to 6.33%. A year ago the average rate was 3.1%.

 | AP

A "help wanted" sign displayed in a business window.

U.S. Jobless Claims Rose Modestly Last Week

Applications for unemployment benefits rose to 230,000 for the week ending Dec. 3, up by 4,000 from the previous week, the Labor Department reported.

 | AP

Robotic arms put in the electric vehicle powertrain into the Ariya model in the assembly line at Nissan's Tochigi plant

Why Are Factory Jobs Making A Comeback?

The economy is changing and manufacturing jobs are on the rise.

 | Lauren Magarino

Construction workers.

U.S. Hiring Stays Strong, Complicating Fed's Inflation Fight

With not enough people available to fill jobs, businesses are having to offer higher pay to attract and keep workers.

 | AP and Ben Schamisso

President Joe Biden signs H.J.Res.100, a bill that aims to avert a freight rail strike.

Rail Strike Averted: Biden Signs Bill Enforcing Agreement

President Biden signed the measure Friday after it was approved Thursday by the Senate and Wednesday by the House.

 | AP and Scripps News Staff

A rail yard

Congress Votes To Avert Rail Strike Amid Dire Warnings

The Senate vote was 80-15. It came one day after the House voted to impose the agreement.

 | AP and James Packard

Hiring sign is displayed outside of a retail store.

Applications For Jobless Benefits Decline Last Week

The Labor Department said Thursday that 1.61 million people were receiving jobless aid the week that ended Nov. 19, up 57,000 from the week before.

 | AP

Freight train cars sit in a Norfolk rail yard.

More Than 400 Groups Urge Congress To Act To Prevent Rail Strike

As rail companies and unions have yet to strike a deal, groups are urging leaders to act before a rail stoppage affects the supply chain.

 | Bianca Facchinei

A locomotive

President Biden Calls On Congress To Prevent Potential Rail Strike

Biden asked lawmakers to impose a tentative agreement from September that provides pay raises, protected health care benefits and better leave policy.

 | Kellan Howell and AP and Scripps News Staff

The scene of a mass shooting at a Walmart

Walmart Mass Shooting Could Affect Retailers And Consumer Confidence

The mass shooting at Walmart on the week of Thanksgiving and Black Friday could impact retail and consumer confidence.

 | Bianca Facchinei

Organization of the Petroleum Exporting Countries, OPEC, Secretary-General Haitham al-Ghaisin

Why Does OPEC Control Oil Prices?

OPEC comprises 13 countries including some of the world’s largest oil exporters.

 | James Packard and Patrick McGovern

A cooked turkey is shown.

Food Prices Are Affecting Many Americans' Typical Thanksgiving Meal

As Thanksgiving approaches, inflation isn't the only reason the holiday dinner may be more expensive this year.

 | Stephen Graddick IV