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Ahead of NFL kickoff, new research finds watching on streaming will run fans close to $3,000 in subscriptions and tailgating staples are up over 10% from last year.
Hiring propped up by start of school year, modest wage gains gobbled up by Trump’s inflation, and no clear signal about where labor market goes from here
Trump’s disastrous economic policy and illegal war in Iran force families to put basics on credit cards, delay medical care, and cut back on discretionary spending
A new report from Groundwork Collaborative and The Century Foundation is highlighting just how much more American families are paying for everyday school items and kid lunch foods this year ― and it’s pretty shocking.
Groundwork data shows Trump’s stubborn inflation wiping out wage gains as corporate profits hit records and AI leaves workers behind.
"A lot of those nearly 1 million jobs relate to AI demand. It's your software developers, consultants and engineers," Breyon Williams, chief labor market economist at Groundwork Collaborative, an economic think tank and advocacy group, told CBS News.
“The seller sized you up and thought you were wearing a really nice pair of sandals and decided to charge you more,” said Lindsay Owens, the author of a forthcoming book on pricing and the executive director of the Groundwork Collaborative, a nonprofit that conducts research on corporate pricing.
“The gains that the top is seeing far, far, far outpace the gains — if any — that the bottom is seeing,” said Elizabeth Pancotti, vice-president of policy at the Groundwork Collaborative, a progressive think-tank. “What we’re seeing today is that there are really two separate economies: one for people who make their primary income through investment and passive income . . . and then typical workers who clock in day in and day out.”
“We’re starting to see a greater understanding among Democrats, both progressives and more moderate Democrats, that this is a critical issue if you care about public services,” said Kitty Richards, a senior fellow at Groundwork Collaborative and former Biden Treasury official. “The appetite among voters is really growing for solutions and for bold action, and so we’re going to see these fights play out really dramatically over the next couple years.”
Paychecks fail to cover the basics, and AI investment casts thin veneer over ugly economic reality.