The U.S. has many economies, not just one. Consider how much the gains in worker pay can vary from city to city. Nationwide, workers in August got a 4.7% bump in gross pay compared to a year ago, while their base pay rose by an average of 3.2%, according to ADP Pay Insights. Yet wages…
Retirement is biting Generation X. Its oldest members will turn 62 next year, the earliest age at which people can claim Social Security benefits, with many Americans having too little saved to stop working even as the program faces its own funding crisis. Chris Branaman, 53, jokes that his retirement will be spent as a…
The U.S. job market is less robust than it looks, according to a new analysis. The nation’s unemployment rate fell to 4.1% in July, well within the range economists consider healthy. Yet that measure, which reflects the percentage of people over the age of 16 who don’t have a job and who are looking for work,…
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…
On this “Face the Nation with Margaret Brennan” broadcast, moderated by Ed O’Keefe: Kentucky Gov. Andy Beshear, a Democrat Rep. Don Bacon, Republican of Nebraska Anthony Salvanto, CBS News executive director of elections and surveys Pennsylvania state Rep. Chris Rabb Wall Street Journal reporter Sabrina Rodriguez, NOTUS reporter Paul Kane, The Atlantic staff writer Toluse…
The following is the transcript of an interview with Pennsylvania state Rep. Chris Rabb, a Democrat, that aired on “Face the Nation with Margaret Brennan” on Aug. 16, 2026. ED O’KEEFE: Welcome back to Face the Nation. We turn now to Pennsylvania State Representative Chris Rabb. He’s the Democratic Party’s nominee in the third district…
The following is the transcript of an interview with Rep. Don Bacon, Republican of Nebraska, that aired on “Face the Nation with Margaret Brennan” on Aug. 16, 2026. ED O’KEEFE: We turn now to Republican Congressman Don Bacon. He joins us from Omaha, Nebraska. Good morning, Congressman, and we understand it is your birthday. So…
The Iran war has underscored how disruptions to a key shipping route thousands of miles away can have a material impact on what American consumers pay at home for essentials like gasoline. The conflict, now nearing its six-month mark, has throttled traffic through the Strait of Hormuz, a key artery for global energy shipments, as…
Treasury Secretary Scott Bessent says the Trump administration is moving quickly to crack down on criminal enterprises, cartels and undocumented immigrants using the U.S. financial system for their payroll schemes, illicit financing and other fraud. In remarks to Arizona bankers Thursday, Bessent said, “This administration will not tolerate blatant abuse of our financial system, nor…
A record number of adult children under 35 are moving back in with their parents, either because they can’t afford homes of their own or to save money amid the rising cost of living, according to a recent study. In 2025, 25.2 million adults under 35 lived at home, according to Realtor.com, which found that…
