Mortgage refinance demand plunges 60%, as rates hit their highest level since 2018

[ad_1] Mortgage rates took another jump higher last week, taking their toll on current borrowers who might have wanted to refinance. Demand from homebuyers, however, appears to be hanging in for now. Total mortgage application volume decreased 6.8% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. This, … Read more

Here’s where the jobs are — in one chart

[ad_1] As Covid restrictions eased, rebounds in the leisure and hospitality and business sectors helped to drive a strong March jobs report. The U.S. economy added more than 400,000 jobs in the final month of the first quarter, the Labor Department said Friday. Leisure and hospitality, which includes hotels, restaurants and amusement parks, added a … Read more

How the hotel industry is fighting its human trafficking problem

[ad_1] Human trafficking generates about $150 billion a year globally in illegal profits, according to the International Labour Organization, and poses a complicated challenge for major hotel chains. In 2020 there were more than 10,000 reported cases of human trafficking in the U.S., with 72% of those related to sex trafficking, according to the National … Read more

Retail sales rose 0.5% in March amid inflation jump; import prices hit 11-year high

[ad_1] Customers pushing shopping carts shop at a supermarket on April 12, 2022 in San Mateo County, California. Liu Guanguan | China News Service | Getty Images Consumers continued to spend in March even as inflation rose to its highest level since late 1981, according to government data released Thursday. Retail sales climbed 0.5% from … Read more

Here’s why health savings accounts may contribute to inequality

[ad_1] The Good Brigade | Digitalvision | Getty Images A popular way to save for out-of-pocket medical expenses might be contributing to health-care inequality, new research suggests. Health savings accounts are tax-advantaged accounts available to Americans with high-deductible health insurance policies. Federal law established them in 2003. Since then, HSAs have grown quickly as employers … Read more

Medical spas are seeing a boost in beauty procedures as people emerge from two pandemic years at home

[ad_1] Goddess Brouette, 22, decided to receive lip treatment at Upkeep Medical Spa in Manhattan during the pandemic. Source: Goddess Brouette Goddess Brouette didn’t want to wait much longer. It was time to get her lips filled. After months of research, she decided last year to get a treatment at Upkeep on the Upper East … Read more

Fed’s Daly says the economy can handle rate hikes, but a mild recession is possible

[ad_1] Mary Daly, President of the Federal Reserve Bank of San Francisco, poses after giving a speech on the U.S. economic outlook, in Idaho Falls, Idaho, November 12 2018. Ann Saphir | Reuters San Francisco Federal Reserve President Mary Daly acknowledged Wednesday that a near-certain series of interest rate hikes over the coming months could … Read more

Weekly jobless claims total 184,000, just above expectations in tight labor market

[ad_1] Initial jobless claims last week were a bit higher than expected but still reflective of a labor market where employers are loathe to fire workers. First-time claims for benefits in the week ended April 16 totaled 184,000, a decline of 2,000 from the previous week but just ahead of the Dow Jones estimate for … Read more

SpaceX signs first Starlink inflight Wi-Fi deal with charter carrier JSX

[ad_1] SpaceX signed its first deal to add Starlink satellite internet to an air carrier’s fleet of planes with semi-private charter company JSX, as Elon Musk’s firm moves into the in-flight Wi-Fi market. JSX CEO Alex Wilcox told CNBC on Thursday that the agreement with SpaceX covers service on up to 100 airplanes. JSX currently … Read more