Economy
Follow the latest Economy news, videos, and analysis from ABC News.
June 23, 2024 at 12:22 AM

Home prices reach a record high

Due to a lack of inventory, the median price of existing homes has increased to more than $419,000
June 23, 2024 at 12:22 AM
VIDEO: Home prices reach a record high
June 22, 2024 at 11:34 PM

California Democrats agree to delay health care worker minimum wage increase to help balance budget

Democrats in California have agreed to delay a minimum wage increase for about 426,000 health care workers to help balance the budget
June 22, 2024 at 11:34 PM
FILE - California Gov. Gavin Newsom answers a reporters question about his revised 2024-25 state budget during a news conference in Sacramento, Calif., Friday, May 10, 2024. On Saturday, June 22, Newsom and legislative leaders announced an agreement to close an estimated $46.8 billion budget deficit. (AP Photo/Rich Pedroncelli, File)
June 21, 2024 at 10:33 PM

Housing market update, Amazon goes green and McDonald’s meal deal

ABC News’ Alexis Christoforous discusses the latest economic trends.
June 21, 2024 at 10:33 PM
VIDEO: Housing market update, Amazon goes green and McDonald’s meal deal
June 20, 2024 at 8:22 PM

US jobless claims fall to 238,000 from 10-month high

The number of Americans applying for unemployment benefits slipped last week
June 20, 2024 at 8:22 PM
FILE - A hiring sign is displayed at a restaurant in Wheeling, Ill., May 16, 2024. On Thursday, June 20, 2024, the Labor Department reports on the number of people who applied for unemployment benefits last week. (AP Photo/Nam Y. Huh, File)
June 20, 2024 at 8:22 PM

Average long-term US mortgage rate falls again; at lowest level since early April

Home loan borrowing costs eased again this week as the average rate on a 30-year mortgage declined to its lowest level since early April
June 20, 2024 at 8:22 PM
FILE - New home construction is shown on Jan. 16, 2024, in Kennesaw, Ga. On Thursday, June 20, 2024, Freddie Mac reports on this week's average U.S. mortgage rates. (AP Photo/Mike Stewart, File)
June 20, 2024 at 4:44 PM

2024 federal budget deficit projection rises to nearly $2 trillion

The new projection comes from the nonpartisan Congressional Budget Office,
June 20, 2024 at 4:44 PM
The U.S. Capitol building is pictured on Capitol Hill, April 23, 2024, in Washington.
June 19, 2024 at 7:34 PM

2024 federal budget deficit forecast rises to nearly $2 trillion

The Congressional Budget Office said it projects this year’s federal budget deficit to be 27% higher compared to its original estimate released in February.
June 19, 2024 at 7:34 PM
2024 federal budget deficit forecast rises to nearly $2 trillion
June 19, 2024 at 2:51 PM

Where are the jobs for new grads now?

After the unemployment rate for 20 to 24-year-olds in May jumped by its biggest annual increase in 14 years, jobs are being added in the health care and hospitality industries.
June 19, 2024 at 2:51 PM
VIDEO: Where are the jobs for new grads now?
June 17, 2024 at 12:25 AM

Some states look to eliminate property taxes

An end to property taxes would help cash-strapped homeowners but some fear that may lead to an increase in sales and income tax.
June 17, 2024 at 12:25 AM
VIDEO: Some states look to eliminate property taxes
June 13, 2024 at 3:02 PM

Number of Americans filing for jobless benefits jumps to highest level in 10 months

The number of Americans filing for jobless benefits jumped to the highest level in 10 months last week, a sign that the labor market is likely cooling under the weight of high interest rates
June 13, 2024 at 3:02 PM
A hiring sign is displayed at a gas station in Vernon Hills, Ill., Monday, June 3, 2024. On Thursday, June 13, 2024, the Labor Department reports on the number of people who applied for unemployment benefits last week. (AP Photo/Nam Y. Huh)
June 13, 2024 at 1:50 PM

US wholesale prices dropped in May, another sign that inflation pressures are cooling

Wholesale price increases fell in May, the latest sign that inflation pressures in the United States may be easing as the Federal Reserve considers a timetable for cutting interest rates
June 13, 2024 at 1:50 PM
FILE - Mark Woodruff loads soybean seeds into a planter on April 22, 2024, in Sabina, Ohio. On Thursday, June 13, 2024, The labor department releases producer prices data for May. (AP Photo/Joshua A. Bickel, File)
June 12, 2024 at 7:51 PM

Inflation eased slightly in May, outperforming economists' expectations

Consumer prices rose 3.3% over the year ending in May, data showed.
June 12, 2024 at 7:51 PM
Bottles of Dr. Pepper soda are displayed on a shelf at a grocery store on June 03, 2024 in San Rafael, California.
June 12, 2024 at 7:50 PM

Fed holds interest rates steady at 23-year high

The decision came hours after fresh data showed a slight cooldown of inflation.
June 12, 2024 at 7:50 PM
In this May 1, 2024, file photo, Federal Reserve Bank Chair Jerome Powell speaks at a news conference in Washington, D.C.
June 12, 2024 at 7:06 PM

Federal Reserve announces disappointing results for consumers

The Consumer Price Index fell ahead of the Federal Reserve's decision to keep the interest rate unchanged.
June 12, 2024 at 7:06 PM
VIDEO: Federal Reserve announces disappointing results for consumers
June 12, 2024 at 4:38 PM

New inflation report shows some relief

Plus, Boeing faces an order setback and Starbucks announces a new value menu.
June 12, 2024 at 4:38 PM
VIDOE: New inflation report shows some relief
June 12, 2024 at 3:15 PM

New CPI data shows inflation lower than expected in May

The Federal Reserve is scheduled to announce a policy decision on interest rates.
June 12, 2024 at 3:15 PM
VIDEO: New CPI data shows inflation lower than expected in May
June 11, 2024 at 11:56 PM

Gas prices have fallen in US

According to AAA, the national average for a gallon of gas is $3.44. Last week's average was $3.52, marking the largest one-week drop so far this year.
June 11, 2024 at 11:56 PM
VIDEO: Gas prices have fallen in US
June 10, 2024 at 4:11 PM

The health of the US economy

Recent jobs data paints a rosy picture for the economy on paper, but sticky inflation is still hurting millions of Americans where it matters most: their wallets.
June 10, 2024 at 4:11 PM
VIDEO: The health of the US economy
June 7, 2024 at 11:46 PM

US economy adds 272K jobs in May

Despite the job and wage growth, many still aren’t feeling the economic strength according to consumer sentiment surveys.
June 7, 2024 at 11:46 PM
VIDEO: US economy adds 272K jobs in May
June 7, 2024 at 6:41 PM

US economy exceeds expectations by adding 272,000 jobs in May

The May jobs report blew past expectations, displaying the resilience of the U.S. economy.
June 7, 2024 at 6:41 PM
VIDEO: US economy exceeds expectations by adding 272,000 jobs in May
June 7, 2024 at 4:08 PM

US economy adds more-than-expected jobs in May

The U.S. economy added 272,000 jobs in May, far surpassing economist expectations.
June 7, 2024 at 4:08 PM
VIDEO: US economy adds more-than-expected job in May
June 7, 2024 at 2:07 PM

Jobs report blows past expectations, displaying resilient strength of US economy

The U.S. economy added 272,000 jobs in May.
June 7, 2024 at 2:07 PM
In this undated stock photo, two construction workers are seen climbing a metal frame.
June 6, 2024 at 5:36 PM

Skyrocketing child care costs show how inflation could impact 2024 election

U.S. families spend an average of $11,000 on child care each year.
June 6, 2024 at 5:36 PM
Children attend Teddy Bear College, a child care center in Bensalem, Penn.
June 6, 2024 at 12:11 AM

Controversial congestion pricing toll delayed in Manhattan

The New York City congestion pricing, which was supposed to begin at the end of the month, has now been postponed indefinitely.
June 6, 2024 at 12:11 AM
VIDEO: Controversial congestion pricing toll delayed in Manhattan
May 31, 2024 at 6:44 PM

Orange shortages send juice prices soaring, prompt possible changes

Orange juice may soon taste different as two top growing regions have reported smaller crop yield and higher prices.
May 31, 2024 at 6:44 PM
In this Jan. 5, 2010, file photo, oranges are picked at an orange grove in Winter Garden, Fla.
May 31, 2024 at 2:46 PM

Child care costs are outpacing inflation: Report

KPMG's chief economist says Americans are downbeat over child care costs.
May 31, 2024 at 2:46 PM
A child holds an adult's hand in an undated stock image.
1 month ago

How to find savings as food prices fall

Michelle Singletary of The Washington Post discusses food prices falling as we head into the summer and shares where consumers can find the best savings.
1 month ago
VIDEO: How to find savings as food prices fall
1 month ago

Home prices hit all-time high

ABC News’ chief economic correspondent Rebecca Jarvis breaks down what these prices mean for the housing market.
1 month ago
VIDEO: Home prices hit all-time high
1 month ago

Retailers hope for good business this holiday weekend

Americans embrace “Buy now, pay later” services as they hope to score bargains with Memorial Day sales.
1 month ago
VIDEO: Retailers hope for good business this holiday weekend
1 month ago

Documentary details the rise and fall of MoviePass

ABC News' Linsey Davis speaks with MoviePass founder Stacey Spikes and director Muta'Ali Muhammed about the new documentary "MoviePass, MovieCrash," which documents the rise and fall of the company.
1 month ago
VIDEO: Documentary details the rise and fall of MoviePass
1 month ago

McDonald's, Target, Wendy's announcing discounts isn't a coincidence, experts say

The series of customer-friendly announcements isn’t a coincidence, experts said.
1 month ago
The McDonald's restaurant logo and golden arch is lit up, April 20, 2006, in Chicago.
1 month ago

Aldi stores focusing on low grocery prices this summer, CEO says

Aldi CEO Jason Hart joined "Good Morning America" live with the summer grocery price outlook.
1 month ago
Jason Hart, the CEO of the grocery chain Aldi, joined "Good Morning America" on May 23, 2024.
1 month ago

By The Numbers: Working from home and the rise in online shopping

A look behind the numbers on why new online shopping trends are emerging as many continue to work from home.
1 month ago
VIDEO: By The Numbers: Working from home and the rise in online shopping
1 month ago

Grocery prices fall for 1st time in a year

Cash-strapped consumers are seeing a little relief just in time for a Memorial Day barbecue.
1 month ago
VIDEO: Grocery prices fall for 1st time in a year
1 month ago

Relief at the supermarket?

The Labor Department says overall grocery prices fell 2% in April, the first drop in a year. Retailers are slashing prices in the hopes of enticing customers. ABC News' Rhiannon Ally has the details.
1 month ago
VIDEO: Relief at the supermarket?
1 month ago

Expert breaks down foods costs from new inflation data

The latest consumer price index data reveals a wider gap between food purchased at grocery stores versus takeout.
1 month ago
1 month ago

Rising interest rates hurt student borrowers

The U.S. Department of Education said borrowing costs for new student loans will climb to their highest level in 16 years.
1 month ago
VIDEO: Rising interest rates hurt student borrowers
1 month ago

Inflation eases slightly in April

ABC News chief economics correspondent Rebecca Jarvis shares what these numbers could tell us about the economy and how it could impact interest rates in the future.
1 month ago
VIDEO: All eyes on April inflation report
1 month ago

US inflation report shows rise in student loans, consumer prices

The April inflation report shows consumer prices decreased to 3.4% in the U.S., while student loan rates skyrocket.
1 month ago
VIDEO: US inflation report shows rise in student loans, consumer prices
1 month ago

Inflation cooled slightly in April, ending monthslong surge in prices

Consumer prices rose 3.4% in April compared to a year ago.
1 month ago
Yogurt is displayed for sale at a grocery store in River Ridge, La. on July 11, 2018.
1 month ago

Red Lobster closing nearly 100 US locations

The seafood restaurant chain is reportedly considering bankruptcy due to a large debt load, executive turnover and losses worsened by a problematic all-you-can-eat shrimp deal.
1 month ago
VIDEO: Red Lobster closing nearly 100 US locations
1 month ago

Is the American Dream of owning a home still attainable?: Colorado couple finds out

Low inventory and high interest rates are creating a perfect storm for first-time home buyers nationwide.
1 month ago
VIDEO:  Is the American Dream of owning a home still attainable?: Colorado couple finds out
1 month ago

Is the housing bubble about to burst?

Home prices are soaring, leading some to question whether another housing bubble is about to burst. ABC News' Alexis Christoforous reports.
1 month ago
VIDEO: Is the housing bubble about to burst?
1 month ago

Home prices are soaring. Is this another bubble?

Nearly 15 years after a housing bubble triggered the worst financial disaster since the Great Depression, some observers are saying a housing bubble may happen again.
1 month ago
In this undated stock photo, a "For Sale" sign stands in front of a house.
1 month ago

By The Numbers: Tax evasion

A look at the numbers behind the nation’s millionaires and billionaires. How wealthy individuals and companies have been getting away with underpaying their taxes for a decade.
1 month ago
VIDEO: By The Numbers: Tax evasion
2 months ago

Is it still the economy, stupid?

In a new series, we look back at political wisdom from past campaigns.
2 months ago
Welcome to the first installment of the 538 Politics podcast mini-series, "Campaign Throwback."
2 months ago

Current retirees could face significant cuts to benefits

A government report says trust funds for Social Security and Medicare will be depleted by 2033 and 2036 if lawmakers and the president do not intervene.
2 months ago
VIDEO: Current retirees could face significant cuts to benefits
2 months ago

Starbucks is struggling. Here's why that matters.

Starbucks' shares have plummeted about 17% in value since last week as sales slump.
2 months ago
A Starbucks logo on a store in Los Angeles, CA,, March 10, 2015.
2 months ago

Antitrust laws are a bipartisan concern regardless of who’s doing the job: Lina Khan

ABC News’ Jonathan Karl interviews Federal Trade Commission Chair Lina Khan on “This Week.”
2 months ago
VIDEO: 1-on-1 with Lina Khan
2 months ago

Wall Street rallies on hopes of interest rate cut

Employers added of 175,000 jobs in April, a less than expected number. Wall Street applauded the news, sending the Dows Jones Industrial average rallying at 450 points.
2 months ago
VIDEO: Wall Street rallies on hopes of interest rate cut