A majority of Americans polled said they couldn’t afford to pay emergency expenses or cover their living expenses for just one month if they lost their primary source of income, according to Bankrate’s latest Annual Emergency Savings Report. The main reason cited is record-high inflation.
The majority surveyed, 68%, said they’re “worried they wouldn’t be able to cover their living expenses for just one month if they lost their primary source of income.”
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The Department of Labor reported Thursday that over 1.19 million Americans filed additional claims for unemployment last week, a slight decline from the approximately 1.4 million in each of the past two weeks.
Though the number of Americans filing for unemployment was less than the 1.4 million expected to do so this week, CNBC reported, the recent news release marks the 20th week in a row that new unemployment claims have been above one million.
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The oil and gas industry lost 26,300 jobs in April, the largest drop of industry jobs in a single month, according to job data dating to 1990.
Texas saw a record surge of more than 2 million claims for unemployment in roughly a six-week period after Gov. Greg Abbott’s executive order in March shut down businesses he deemed nonessential to prevent the spread of the coronavirus, and to tanking oil prices resulting from an oil war between Saudi Arabia and Russia. The economic fallout also sent commodity prices to historic lows.
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Robots aren’t replacing everyone, but a quarter of U.S. jobs will be severely disrupted as artificial intelligence accelerates the automation of existing work, according to a new Brookings Institution report. The report, published Thursday, says roughly 36 million Americans hold jobs with “high exposure” to automation — meaning at least…
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