US financial news | Summary news 9 September
US financial news: live updates
Headlines: Saturday 9 September 2023
- Gas prices could spike 35-55¢ per gallon in the Corn Belt
- Home-sale prices rise 4.5% as supply as mortgage applications slump
- Employment report: 736,000 people enter job market, unemployment at 3.8%
- Labor force participation rate ticked up to 62.8% in August, highest rate since February 2020
- Job openings fell in July to a more than 2-year low, pointing to slowdown
- Social Security payment increase due to COLA projected to be 3%
- US quarterly growth slower than expected in Q2
- Minimum wage in Florida set to increase in September
- Minimum wage in California and Illinois to go up in 2024
- New requirements to receive SNAP benefits in 2024 to take effect soon
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The Hispanic community within the United States is one of the most notable in terms of the number of people and its cultural influence. Many of those who make up the community have families with several generations living in the country, which makes it easier for the social and economic growth of many of the people belonging to said group.
Here are the top ten places for Hipanic entrepreneurs to get a new business off the ground.
Washington State provides a tax refund of up to $1,200 through the Working Families Tax Credit for certain eligible taxpayers. Here are the details.
Walmart, to apologize for a technical error, is offering customers a $5 gift card who were charged double sales tax in Alabama. Here’s how to claim yours…
One can retire, with enough money, at any age but if you want to claim Social Security you have to be at least 62.
Every year the Social Security Administration announces a cost-of-living adjustment increase for monthly benefit payments, but when does it take effect?
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Eligibility for unemployment insurance depends on immigration status during two time periods: first, the time the worker applies for and receives benefits, known as the “benefit period”; and second, the time the worker performed the work, known as the “base period.”
Generally speaking, workers must have valid work authorization during the base period, at the time they apply for benefits, as well as for the entire period during which they are receiving benefits.
Under current state and federal systems, undocumented workers are not eligible to receive unemployment benefits.
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Some Social Security beneficiaries will receive two payments in September.
Home-sale prices jump 4.5%, the biggest increase in almost a year
During the pandemic mortgage rates dropped to historic lows falling below 3%. However, as the Federal Reserve has tightened monetary policy implementing the most aggressive rate hikes in four decades to stamp out inflation, mortgage rates have also risen.
For the week ending Thrusday 7 September the weekly average stood at 7.12% for a 30-year fixed-rate mortgage. The higher mortgage rate along with elevated prices has homeowners who locked in ultra-low rates reluctant to sell. That has aggravated a supply crunch in the market which in turn has helped drive up prices once again.
The median home-sale price rose 4.5% year over year during the four weeks ending September 3 according to recent Redfin data. This in turn in reducing homebuying demand with mortgage applications dropping to a nearly three decade low.
Gas prices could spike 35-55 cents per gallon in the Corn Belt
GasBuddy, which tracks the price of filling up around the US and Canada, is warning that gas prices could jump between 35 and 55 cents in the Corn Belt. This is down from an earlier prediction of up to $1 per gallon. The spike will occur over the next two days after which prices should begin to ease once again.
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The COLA represents an increase in Social Security payments. Each month, the Social Security Administration sends different checks, including those for retired workers and survivors (children, spouses, widows, widowers or parents of a deceased beneficiary). These recipients are the people who will benefit from a new cost of living adjustment.
Here is the date on which the amount of the COLA increase will likely be announced.
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Montana residents may be able to claim a rebate of up to $675 on property taxes. We bring you the lowdown on eligibility and how to apply.
The SSA uses three main data points to determine how much you will receive in benefits when you claim. One of those is the PIA. Here’s how it works…
Temporary Assistance for Needy Families (TANF) benefits provide financial assistance to families.
The application period for federal student loans has ended. You need to have submitted a Free Application for Federal Student Aid, or FAFSA, by the end of June 2023.
The only other option for getting a student loan is a private loan. These can be applied for and ratified within hours if you meet the requirements.
Welcome to AS USA's live financial blog!
Follow along as we bring you the latest news on SNAP benefits, Social Security updates, and student loan repayment plans.
We'll also be reporting on other financial news affecting US consumers as the job market cools, consumer spending slows, and the Federal Reserve prepares to decide if interest rates will be increased once again at their next meeting.