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Investopedia
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A new survey shows that the ranks of job seekers are growing.
A report released this week by the Federal Reserve Bank of New York showed that the share of people looking for new employment in July was at its highest level in more than a decade. In total, 28% of respondents said they were job-hunting, while a record-low 88% of those who had a job four months ago, the last time the survey was conducted, said they still worked the same job.
The survey results come as investors are jittery about labor data after an unexpected jump in the July unemployment rate sent financial markets reeling earlier this month. Federal Reserve officials have said they are beginning to follow labor market trends more closely as inflation comes in line, potentially setting up an interest rate cut at the September meeting of the central bank's policy committee.
The New York Fed's Labor Market Survey for July showed that the proportion of workers who said they were transitioning into new jobs was also at its highest level in the survey’s decade-long history.
One reason that job transitions may have been higher was workers reported being increasingly unhappy with their wages, benefits, and job promotion opportunities. Women were more likely to be dissatisfied with their compensation and more likely to be transitioning to new work.
Workers also lowered their wage expectations, though they are still higher than pre-pandemic levels. The minimum salary they said they would accept was higher than July 2023 levels but down from the peak of March 2024.
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Investopedia
2 hrs
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YouTube is rolling out upgrades for "NFL Sunday Ticket," including the ability for subscribers to watch up to four games simultaneously and track their fantasy football teams alongside the games.
The new features come ahead of the second football season since Alphabet's Google (GOOGL) and the NFL signed a seven-year, roughly $14 billion deal to bring the service to YouTube TV. Prior to the 2023 season, "NFL Sunday Ticket" had been distributed by DirecTV for decades.
Earlier this month, a federal judge threw out a jury's verdict against the NFL that would've required the league to pay $4.7 billion to "NFL Sunday Ticket" subscribers. The lawsuit accused the league of inflating prices for the service, which is fans' only option to watch out-of-market games.
Now, "NFL Sunday Ticket" subscribers will be able to connect their Yahoo Fantasy accounts via the "Fantasy View" feature and monitor live statistics alongside the games. They also will have the ability to "build any available combination of two, three, or four" games to view simultaneously.
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Investopedia
3 hrs
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As people stayed home during the pandemic, their households stockpiled extra liquid assets—most of which have now run out.
Households accumulated cash, stocks, and interest-earning savings during the pandemic due to government assistance checks and stay-at-home orders that limited consumer spending. However, a recent report from the Federal Reserve Bank of San Francisco found many households have now spent large amounts of that liquid wealth.
As the pandemic's economic restrictions eased, the average cost of living skyrocketed. The Federal Reserve worked to tame the price increases on everything from groceries to rent by raising borrowing costs to a 23-year high. These interest rates were designed to discourage spending and allow supply to rebalance with demand.
Researchers found that consumers coped by dipping into the assets they collected during the pandemic.
Higher-income households have been able to increase their liquid assets by moving them into money market funds, which earned more interest during the Fed's inflation fight. However, lower- and middle-income households needed to use their liquid assets to contend with high prices and interest rates.
As households ran out of the pandemic-era liquid assets, credit-card delinquency rates rose. Without the extra money they once had, many consumers paid for goods and services with credit cards. But those high borrowing costs are making it harder for people to pay off their debt, bringing delinquency rates to a 12-year high.
Debt not related to housing also increased over the past two years, reaching a record-high $4.9 trillion in the second quarter, according to the Federal Reserve Bank of New York.
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Instablog9ja
5 hrs
12
A Chinese investment group is set to list two residential structures it confiscated from Nigeria for sale on global online marketplace eBay.
Peoples Gazette reports that the group is racing to recover up to $70 million in arbitration awards from the West Africa country.
According to the report, Zhongshang Fucheng Industrial Investment Ltd took possession of two buildings linked to the Nigerian government in Liverpool, United Kingdom, in June 2024, years after Nigeria failed to settle an arbitration judgement handed down in 2021.
The properties, 15, Aigburth Hall Road, Liverpool and Beech Lodge, 49, Calderstones Road, Liverpool, were targeted after a December 2021 British court order gave Zhongshang executives the power to seize Nigerian assets in the UK to retrieve the $70 million payment, which remained outstanding as of August 20, 2024, with two per cent monthly interest accruals.
Zhongshang was awarded $55,675,000 plus interest of $9,400,000 and costs of £2,864,445 as of the date of the arbitration verdict on March 26, 2021, court documents said…(continue reading on next slide)
Instablog9ja
6 hrs
9
Some ladies have gone down their memory lane as they shared some on the betrayals that they suffered in the hands of their once besties.
Taking to their social media handles, they gave various accounts of some of the shocking things their friends did to them that left them heartbroken
Instablog9ja
8 hrs
15
Two Nigerians have been arrested by Haitian police for possession of fake Haitian National Identification Cards.
The suspects, Madukanze Kenneth, 31, and Henry Peter, 29, were arrested on Sunday, August 18, in Jacmel, Haiti.
Born on August 3rd, 1993, in Nigeria, Madukanze Kenneth was arrested by law enforcement in possession of a Haitian National Identification Card in the name of Augustin Jerry. While Henry Peter, born on February 7, 1995 in Nigeria, also uses a fake national identification card in the name of Junior Jean Pierre, IciHaiti reports.
The South East Police Department in Haiti announced the arrests on social media, emphasising their commitment to continue working “tirelessly” to apprehend lawbreakers and maintain public order.
