Fewer Americans applied for jobless benefits last week as the U.S. job market remains robust despite four-decade high inflation and a myriad of other economic pressures.


Twitter's board of directors on Tuesday "unanimously recommended" to its shareholders that they vote to approve Tesla and Space X CEO Elon Musk's $44 billion offer to acquire the social media company. 

A trader works on the floor at the New York Stock Exchange in New York, June 16, 2022. (AP Photo/Seth Wenig)

With inflation now at 8.6% and food prices rising the fastest in 40 years, Americans are trying to find ways to get by, and that means less spending. 

A Wall Street sign at the New York Stock Exchange in New York. (AP Photo/Seth Wenig)

After a dismal start to the week on Wall Street, there are growing fears a recession could be coming, and a big decision anticipated Wednesday from the Federal Reserve is causing even more concern.

In this photo provided by the New York Stock Exchange, traders Orel Partush, left, and Robert Charmak work on the floor, Friday, June 10, 2022. (David L. Nemec/New York Stock Exchange via AP)

Wall Street opened the week with heavy losses that put the benchmark S&P 500 at a level considered to be a so-called bear market.

Salt Lake City. (AP Photo/Rick Bowmer)

For the first time, AAA says the national average for a gallon of regular gas is at $5.01 in the U.S., and top economists are warning America's inflation crisis is about to get worse before it gets better. 


The prices of gas, food, and most other goods and services jumped in May, raising inflation to a new four-decade high and giving American households no respite from rising costs.

Bottles of Gatorade are pictured; a 32 fluid ounce and the newer 28 fluid ounce version, in Glenside, PA, June 6, 2022. (AP Photo/Matt Rourke)

It's the inflation you're not supposed to see. From toilet paper to yogurt and coffee to corn chips, manufacturers are quietly shrinking package sizes without lowering prices. It's dubbed "shrinkflation," and it's accelerating worldwide.

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Sky-high inflation and economic uncertainty have some worried about their future and livelihood, and financial mentors say now is the time to learn how to invest and save wisely. 


The Labor Department released its closely watched May jobs report Friday morning. It was better than some expected. But some analysts say it suggests that headwinds from the highest inflation in four decades, global supply chain issues, and increasing worker shortages are affecting the labor market.