Employers are likely to offer their workers only modest pay hikes in 2027, according to a new estimate. Salary increases next year are forecast to average 3.5%, including merit raises, cost-of-living adjustments, promotions and other pay increases, Marsh, a professional services firm, found in a survey of 1,000 U.S. organizations. “2023 was the high-water mark…
8/29: CBS Weekend News – CBS News Watch CBS News Trump says gas prices to fall with new deal; Iran war hikes diesel costs for school buses. Source link
President Trump’s 50% tariffs on certain Canadian products could raise their prices in the U.S., but the narrow scope of the levies is unlikely to trigger a broader spike in inflation, trade experts said. After the tariffs, first announced in late June, took effect on Saturday following a breakdown in trade talks, Canada pledged to…
American workers’ wages are once again failing to keep up with inflation — a painful financial déjà vu of the pandemic years. The repeat situation may feel even more acute given that many workers are still catching up from the 2021-2022 inflationary bout, when companies gave workers only moderate pay raises that fell short of four-decade-high price…
Refunds for illegal U.S. tariffs are starting to flow to businesses, and consumers could get a cut from companies that have vowed to share that financial relief with customers. The U.S. Customs and Border Protection (CBP) agency can only issue tariff refunds to the so-called importer of record — the entity that directly paid one…
What a difference a day can make for monetary policy. On Thursday, interest rate futures were decidedly tilted toward the Federal Reserve hiking its benchmark rate in September, according to CME FedWatch, which tracks traders to forecast the central bank’s policy decisions. But after Friday morning’s dismal July jobs report, which showed that employers unexpectedly…
More companies are moving away from broad “peanut butter”-style pay raises for workers in favor of merit-based and other kinds of compensation sweeteners for top employees, according to new insights from Payscale. The trend toward rewarding strong individual performers within a business marks a shift away from companies spreading pay hikes evenly across their workforces. Just…
Oil prices tumbled more than $4 a barrel on Monday after US President Donald Trump held off on a fresh attack on Iran, seeking to reach a quick deal that would reopen the Strait of Hormuz. Brent crude futures slid $4.49, or 5.11 per cent, to $83.44 by 0408 GMT while US West Texas Intermediate…
Mortgage rates in the U.S. hit their highest level in a year on Thursday as renewed tensions in the Middle East and the Federal Reserve’s interest rate decision this week fanned inflation concerns. The rate on a conventional 30-year mortgage averaged 6.66% in the week ending July 30, the highest level since July 2025, according to…
The Federal Reserve said on Wednesday that it is leaving its benchmark interest rate unchanged, a sign policymakers expect inflation to ebb despite higher energy costs due to the war in Iran. This marks the fifth consecutive time the central bank has held rates steady this year. The last time Fed officials voted to change…
