Workers in these two industries are the only ones coming out ahead right now
CNN
At first glance, it looks like many Americans got big pay raises since the Covid-19 pandemic started.
But in reality, only workers in two industries -- leisure and hospitality and retail trade -- are actually coming out ahead, once inflation is taken into account.
Overall, wages and salaries for private industry workers rose by 4.2% between December 2019 and this past June, before rising prices are considered, according to an analysis of Employment Cost Index quarterly data by Jason Furman, an economics professor at Harvard University.
Paramount has upped the ante in its hostile takeover bid for Warner Bros. Discovery, announcing Monday that Larry Ellison will personally guarantee the tens of billions of dollars he is putting up to bankroll the transaction. The Ellisons will also let shareholders peer into the finances of their family trust.
Thieves are increasingly targeting the copper wires that keep America’s power grids and phone networks running.
You don’t get labeled the “Oracle of Omaha” for nothing.
An estimated $1.6 billion is up for grabs in Monday’s Powerball draw after the jackpot rolled over on Saturday.
“60 Minutes” just suffered a severe blow to its credibility. Now one of its own correspondents fears the program is being “dismantled,” and some employees are threatening to quit.
Popular Kentucky bourbon maker Jim Beam plans to pause production at its main distillery next year, according to the James B. Beam Distilling Company.
The opening was shy of analysts’ expectations that it could earn more than $100 million, but it also earned roughly $257 million internationally, bringing its global opening to $345 million.
The costs of social outings can add up, and some young adults are compromising by renting clothes instead of buying high-end luxuries.
As America’s labor market slows, AI-led interviews and auto-generated cover letters are dramatically changing the process of getting a job. And maybe not for the better.
Someone could become $1.5 billion richer after this evening — if they pick the winning numbers in the latest Powerball jackpot.
California could soon be running short of gasoline, potentially hiking some of the highest gas prices in the country.
For over a century, Broadway has been at the heart of New York City culture, with glittering marquees welcoming millions of tourists and locals every year.
The Russian economy has been dealing with growing headwinds this year: unruly inflation, a ballooning budget deficit and shrinking energy revenues. But analysts say the Kremlin could weather the storm for many more years.