Business Update – January 10, 2024

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.

Poll finds fewer Americans expecting economic slowdown now

Most Americans continue to rate the economy negatively, but sentiment has been slightly improving of late, and Americans now think the longer-term outlook appears more stable.

Initial US employment reports overstated by 439,000 jobs in 2023

The government erased 439,000 jobs through November 2023, a closer look at the numbers from the Bureau of Labor Statistics shows. That means its initial jobs results were inflated by 439,000 positions, and the job market is not as healthy as the government suggests.

US bankruptcies surged 18% in 2023 and seen rising again in 2024 -report

U.S. bankruptcy filings surged by 18% in 2023 on the back of higher interest rates, tougher lending standards and the continued runoff of pandemic-era backstops, data published showed.

2023 Housing Market Rollercoaster: Surprises, Challenges, and Predictions for 2024

The housing market in 2023 took an unexpected turn, with home sales plummeting by 17% from February to October. Despite this, home prices soared to record highs, increasing by 7% since the start of the year. Mortgage rates also spiked, reaching nearly 8% – the highest level in 23 years.

The 20 most financially savvy states

Most people seem confident that they have a good handle on their financial affairs, but to make the most of them, you can never know too much. To find out where individuals have the best understanding of money matters, WalletHub rated the 50 states and Washington, D.C., on financial planning/habits and financial knowledge/education.

US national debt nears $34 trillion; majority of voters say economy is in bad shape

The U.S. government’s total debt was fast approaching $34 trillion, according to the latest numbers from the U.S. Treasury. More than three-quarters of registered voters polled by Fox News in December said the economy is not in good shape, with 78% of respondents rating it only fair or poor.

11 Charts That Explain the Year in Business, Technology and the Economy

It has been a confusing year for the economy and markets. At the start of 2023, economists largely predicted a global recession, and Wall Street was bearish on stocks, with many analysts expecting the S&P 500 to finish the year just a touch higher than where it started. Fast-forward 12 months: No recession (yet) and the S&P 500 is tantalizingly close to a record high. Here are 11 charts that help explain how we got here.

Get in touch

Contact us if you have any questions or want to discuss the next steps for your business.

Want to grow your business? Our Free Resources will Help