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U.S. inflation decelerated in July by more than expected, reflecting lower energy prices, which may take some pressure off the Federal Reserve to continue aggressively hiking interest rates.
The consumer price index increased 8.5% from a year earlier, cooling from the 9.1% June advance that was the largest in four decades, Labor Department data showed Wednesday. Prices were unchanged from the prior month. A decline in gasoline offset increases in food and shelter costs.
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Americans' financial literacy has slipped to a 10-year low, with new TIAA Institute data showing weaker scores, wider gaps, and rising reliance on AI tools for money decisions.
As costs for healthcare and housing rise, a Dayforce study highlights widening gender and racial wage gaps reshaping workforce stability.
Despite job openings and increasing unemployment, employers are having a hard time filling roles formerly occupied by non-American workers.
The Social Security Administration announced its cost-of-living adjustment for beneficiaries — a figure advocates say fails to address the reality for most seniors.
Employers are growing cautious about expanding their staff, while at the same time mostly holding onto their existing workers.
