Economics

• November jobs number was a huge disappointment, but unemployment is down, underemployment is down, and hours, wages and labor force participation are higher. (Yahoo Finance)
• Unemployment claims continue to be low compared to pandemic levels, indicating a tightening labor market. (Reuters) (MarketWatch for more analysis)
• Jerome Powell drops “transitory” from inflation vocabulary during his hearing in front of Congress, (Yahoo Finance), and according to a Gallup poll, 7 out of 10 Americans are feeling inflation’s impact (WAPO – subscription may be needed)
• Millennials are experiencing inflation for the first time in their adult lives. This NYT (subscription may be needed) has an interesting graphical breakdown of how each generation is spending its money.
• And for a different perspective on what is going on in the economy that the press doesn’t talk about, check out this piece from Pressrun. (trigger warning – it gets political)
• Congress acted to avoid a government shutdown. (AP)

Managing Credit

• The CFPB has a publication explaining their debt collection rules.

Black Friday

• Black Friday spending was up from last year, but still 28% below pre-pandemic levels. (CNBC)

Labor Force/Careers

• Forget vaccine mandates, companies are moving to charge employees more for their health insurance if unvaccinated. (NPR)
• Amazon Warehouse workers get to vote again on unionizing. (ABC) (WaPo-subscription may be required)

Financial Literacy/Advocacy

• In case you missed it, here is Tim Ranzetta’s opinion piece in the Boston Herald.

Fun Fact

• What is the best selling truck for the 45^th year in a row? (CNBC)

FYI

The Kansas City Fed has recently promoted several briefings on topics that might be of interest.

• Déjà Vu All Over Again: What the Return of Private Currencies Could Mean for Central Banks (digital currencies)
• The Appeal and Proliferation of Buy Now, Pay Later: Consumer and Merchant Perspectives - Federal Reserve Bank of Kansas City
• When Paying Bills, Low-Income Consumers Incur Higher Costs

About the Author

Beth Tallman

Beth Tallman entered the working world armed with an MBA in finance and thoroughly enjoyed her first career working in manufacturing and telecommunications, including a stint overseas. She took advantage of an involuntary separation to try teaching high school math, something she had always dreamed of doing. When fate stepped in once again, Beth jumped on the opportunity to combine her passion for numbers, money, and education to develop curriculum and teach personal finance at Oberlin College. Beth now spends her time writing on personal finance and financial education, conducts student workshops, and develops finance curricula and educational content. She is also the Treasurer of Ohio Jump$tart Coalition for Personal Financial Literacy.

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