Job Market Trends

Finance News

Seniors looking to pick up a little extra money have more options than they might think

$30k a year washing clothes? Yep, and some make even more.

Featured Finance News photo

Seniors are being forced to deal with more financial regrets than they ever thought possible – not saving more, not buying Long Term Care insurance, regretting that they did not delay claiming social security benefits, not working longer, and other shoulda woulda couldas.

Luckily, many seniors still have a lot of the skills and smarts they picked up during their professional years and there are ways they can use those without taking a full-time job when they only want so...

Read article
Featured Finance News photo

Latest Articles

  1. Fifth Third Bank slapped with a $20 million fine
  2. Mortgage rates ticked lower this week and remain below 7%
  3. Wells Fargo gets sued for not backing up scammed customers
  4. Chase Bank warns CFPB rule would result in new fees
  5. Mortgage rates rise but stay under 7%

Not sure how to choose?

Get expert buying tips about Job Market Trends delivered to your inbox.

    By entering your email, you agree to sign up for consumer news, tips and giveaways from ConsumerAffairs. Unsubscribe at any time.

    Thanks for subscribing.

    You have successfully subscribed to our newsletter! Enjoy reading our tips and recommendations.

    Recent Articles

    Newest
    • Newest
    • Oldest
    Article Image

    The economy lost jobs last month for the first time since April

    Surging COVID-19 cases are taking a toll on the job market

    The nation’s economy lost jobs last month for the first time since April, when the coronavirus (COVID-19) pandemic threw the economy into lockdown.

    The Labor Department reports that nonfarm payrolls shrank by 140,000 in December. To find the main source of the damage, one needs to look no farther than the hospitality industry. These COVID-19-sensitive businesses -- particularly restaurants -- lost nearly a half-million jobs.

    December marked the end to what had appeared to be a recovering job market. The economy began adding jobs in May and had restored more than 12 million jobs until last month.

    Despite the setback, two numbers remained unchanged last month. The number of people who were out of work remained at 10.7 million, and the unemployment rate was unchanged at 6.7 percent.

    In addition to the huge loss of jobs in the hospitality industry, private education shed 63,000 jobs and 45,000 government jobs disappeared.

    Some industries added jobs

    On the plus side, retailers added 121,000 jobs in December, even as more holiday sales moved to online channels. More than half the gain came at general merchandise stores and warehouses.

    Employment in business and professional services grew by 161,000 last month, but a large number of those jobs were temporary in nature. Construction added 51,000 jobs in December, but employment in the industry is 226,000 below its February 2020 level, just before the pandemic.

    Economists say the employment report shows there was a need for the coronavirus stimulus/aid bill Congress passed last month. It includes an extra $300 a week in unemployment benefits and a one-time $600 direct payment to every American.

    President-elect Biden has served notice that more aid/stimulus will be coming in the weeks ahead now that Democrats control the White House and both chambers of Congress.

    The nation’s economy lost jobs last month for the first time since April, when the coronavirus (COVID-19) pandemic threw the economy into lockdown.The...