Posts Tagged ‘earnings’

Americans Waiting for a Bigger Raise

Posted on November 17, 2017 by Laura Lam

The government said that average hourly earnings rose 2.4% over the past 12 months.  That’s a slip from the 2.9% increase reported in September. It remains below the 3% to 3.5% range that many agree is normal in a truly healthy economy.  The last time wages were up more than 3% year-over-year was in April 2009, just as the economy was emerging from the depths of the global banking crisis that fueled the Great Recession. Why have wages remained stagnant even though many other indicators of the job market and broader economy look healthy? Unemployment continues to drop. The housing…

Banks See Slower Loan Growth, Higher Charge-Offs

Posted on June 12, 2017 by Laura Lam

FDIC-insured banks reported that the pace of loan growth slowed in the first quarter and that charge-offs on loans to individuals increased. But banks still recorded robust earnings for the period.  Total loans and leases fell by $8.1 billion, or 0.1% year-over-year, in the 3 months ended March 31, led by credit card loans, which posted a seasonal decline of $43.7 billion, or 5.5%. In its Quarterly Banking Profile, the FDIC attributed the decline to cardholders paying down outstanding balances, but residential mortgages also fell, by 0.5%. Credit to businesses offset some of the decline, with commercial and industrial loans up…

The Staggering Costs of Student Loan Debt

Posted on July 10, 2015 by Saldutti

The numbers are staggering: more than $1.2 trillion in outstanding student loan debt, 40 million borrowers, an average balance of $29,000.  It’s not hard to find indications that student debt is a large (and growing) problem. But unless you or someone you love holds student loans, it can be hard to feel the problem’s immediacy.  That may not be the case for long. Mounting student loan debt is ricocheting through the United States, now affecting institutions and economic patterns that have been at the core of America’s very might. Men and women laboring under student debt “are postponing marriage, childbearing,…