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Jill On Money: Scorching summer job heat means more rate hikes

Business / Jill On Money /

The post-COVID labor market recovery is like this summer’s weather: SCORCHING.

The government reported that 528,000 jobs were created in July, more than twice the consensus estimate. With positive revisions to the prior two months, the total number of jobs has returned to February 2020 pre-pandemic levels.

The monthly gains were broad-based,...Read more

Jill On Money: The 'recession' label is not as important as YOU

Business / Jill On Money /

After the Fed raised short term interest rates by 0.75% to a range of 2.25-2.50%, Chairman Jerome Powell said that the U.S. is not currently in a recession, which he described as a “broad based decline” and then added, “that’s not what we have now.”

Powell noted that it’s hard to square a recession with the still-solid labor market....Read more

Jill On Money: Summer housing in transition

Business / Jill On Money /

After hearing three stories about home sales that blew up within days of closing, I figured that it was time to check in on what’s going on in residential real estate this summer.

Conditions have changed within the few months since I wrote about the housing affordability crisis, leaving the market in transition.

Here’s what we know: The ...Read more

Jill On Money: Crypto gets crushed as the dollar delights

Business / Jill On Money /

A long, long time ago … way back in the fall of 2021, I received an email from a gloating Bitcoin investor, which went something like this:

Jill, you have been a crypto doubter and thankfully, I ignored your BAD advice to limit my allocation to five percent of my investments. I have made a ton of money and you (and other Boomer finance people...Read more

Jill On Money: June jobs take-away - No recession yet

Business / Jill On Money /

Despite the hand-wringing over a coming recession and sentiment levels dropping to all-time lows, the June employment report showed that the U.S. economy is alive and well.

There were 372,000 new positions added and the unemployment rate remained at 3.6%, a tenth of a percentage point above 50-year lows that were reached in February 2020, ...Read more

Jill On Money: Mid-year Q&A

Business / Jill On Money /

It’s been a heck of a six months for investors. Given that you can’t control markets, let’s try to manage those matters over which you can exert agency – your nuts-and-bolts personal finances.

If you need more in-depth information about your situation, send an email to: askjill@jillonmoney.com.

Question: I’m 46 years old and just ...Read more

Jill On Money: The upside of a downturn

Business / Jill On Money /

With prices high and recession fears swirling, Americans are nervous. Instead of feeling helpless, now is a good time to highlight six potential upsides of a downturn in both the economy and financial markets.

1. Emergency Reserve funds are cool again. A self-funded safety net can be the difference between tossing and turning and getting a good...Read more

Jill On Money: Scam alert

Business / Jill On Money /

As you gear up to enjoy the summer, the IRS has a message: don’t let down your guard!

The agency recently released its annual 'Dirty Dozen' tax scams, a kind of “worst of” fraudster guide for 2022. As it has done for more than 20 years, the IRS highlights the most prevalent scams and schemes to raise awareness among taxpayers and the ...Read more

Jill On Money: Will inflation prompt an 'unretirement' trend?

Business / Jill On Money /

How are you feeling about retirement? According to the Employee Benefit Research Institute’s 2022 Retirement Confidence Survey (RCS), pretty good.

“Over 7 in 10 workers are at least somewhat confident, including almost 3 in 10 who are very confident,” and retirees are also upbeat, “with nearly 8 in 10 confident they will have enough ...Read more

Jill On Money: The lucky class of 2022

Business / Jill On Money /

Members of the college class of 2022 may not consider themselves lucky. After all, COVID-19 robbed many of them of the complete college experience. Perhaps their reward for the start and stop of in-person/remote/hybrid education is to graduate in one the hottest job markets in decades.

Job openings remain high, the unemployment rate is low and ...Read more

Jill On Money: The bear comes out of the cave

Business / Jill On Money /

As I write this, traders and the financial media are breathlessly eyeing a magic number for the S&P 500: 3,837.25. That’s the level below which the broad U.S. index must close to technically qualify as a bear market, or a 20% drop from the recent peak.

Prior to this year’s sell-off, there have been 14 bear markets since 1945 (and 3 more ...Read more

Jill On Money: Should you buy now and pay later?

Business / Jill On Money /

When the Federal Reserve Bank of New York released its report on household debt, the numbers were eye-popping. Total household debt in the first quarter of the year increased by 1.7% to $15.84 trillion, putting balances “$1.7 trillion higher than at the end of 2019, before the COVID-19 pandemic.”

The details showed that big jumps in ...Read more

 

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