Reading List for Labor Day Weekend 2022
This week’s reading list includes some details about the student loan forgiveness package that was announced last week, a highly anticipated jobs report for August, and a wide assortment of articles to pique your interest on this long holiday weekend.
- Generally good news with the August jobs report—not only was the number as expected at 315,000, but the increase in the unemployment rate reflects a jump in the sluggish labor force participation rates—particularly among the youngest and oldest workers. With more people looking to fill the huge number of open jobs, and wage growth slowing slightly, the labor market imbalance may be beginning to correct itself. (CNBC)
- For the latest on student loan forgiveness, Adam Minsky of Forbes is a good source. In one article he gives more details about the newly announced relief. In another, Minsky explains that while relief is planned to be a non-taxable event for federal taxes, it may still be taxable in some states.
- Michelle Singletary warns that loan forgiveness is not a reason to borrow more. (WAPO-subscription may be required)
- NYT columnist Jeff Sommer hasn’t changed his investment advice regarding the stock market: do nothing.
- Mutual funds and ETFs may seem to be similar, but the way capital gains are derived and taxed can make a significant difference, and ETFs are more tax efficient. (Humble Dollar)
- Guess which generation is saving the most for retirement? Kudos to Gen Z. (CNBC)
- Yields are back up (and so is my Ally interest rate!) This is good news for savers. (A Wealth of Common Sense)
At some point this week, Bitcoin dropped below $20,000 as stock prices faltered. (CNBC)
- Home prices fall for the first time in three years, with biggest drop since 2011. (CNBC)
- Would a 2022 Housing Crash Be Worse Than 2008? EPB Macro Research breaks down all of the data in this 8-minute video.
- I usually don’t include articles on proposed legislation, but this one has a really good explanation about how social security income is currently taxed. (Don’t Mess With Taxes)
- Using Buy Now Pay Later for groceries may seem like a great idea at the moment of purchase, but those loans quickly add up! (NYT)
- There is much debate over how and where remote work is successful in promoting work culture. Is work culture dependent on a physical location? (WAPO – subscription may be required)
- Change in college majors indicates where we are headed. (Graph from 9/2 Morning Brew.)