The largest-ever class of high school seniors is about to graduate, just as colleges are facing major upheaval. Here’s what students could face as they head to campus.
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When Starbucks announced last month that it was laying off more than 1,000 corporate employees, it highlighted a disturbing trend for white-collar workers: Over the past few years, they have seen a steeper rise in unemployment than other groups, and slower wage growth. It also added fuel to a debate that has preoccupied economists: Are the recent job losses merely a temporary development? Or do they signal something more ominous and irreversible? After sitting below 4% for more than two years, the overall unemployment rate has topped that threshold since May. So, how worried should white-collar workers be?
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In The New York Times Opinion Section: “Our stock market is starting to crack. Investor confidence is rapidly dissipating. And changes in the way Wall Street works mean that the impact on your retirement portfolio could be far more severe than you may realize,” writes William Cohan, a founding partner of Puck and a former Wall Street banker.
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The Fed noted that “uncertainty around the economic outlook has increased” even as it maintained a positive tone about the economy. Economic activity continued to expand at a “solid pace” as the unemployment rate “stabilized at a low level,” and inflation was “somewhat elevated,” it said. https://nyti.ms/4bG9Wbt
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