Oct 20, 2021
Economics, Career, Budgeting
While the Federal minimum wage of $7.25 hasn’t changed since July 2009, many states have gone ahead and independently made changes to their minimum wage levels. This interactive from Flowing Data shows the progression of these changes from 2008-2019.
When it comes to the minimum wage, states fall into four different classifications:
States with higher minimum wage than Federal
States with same minimum wage as Federal
States with lower minimum wage than Federal (Federal...
Oct 16, 2021
Inflation is weighing on everyone. September numbers came in higher than expected for the Consumer Price Index at 0.4% for the month and 5.4% year-over-year. (CNBC) While many economists feel the current pressure we are feeling is transitory (not permanent) but largely a product of the pandemic-related bottlenecks in the supply and delivery chain which they feel will resolve at some point, it is very real to consumers who are paying more for just about everything. And just this week it was...
Oct 15, 2021
Current Events, Economics, Entrepreneurship, Investing
There has been a lot of economics news this week about inflation, the unusual labor market, and the Nobel Prize.
NPRs Planet Money explains who the Nobel Prize winners in Economics are, and what their contribution means to the field. Go empiricists!
We have talked about “shrinkflation”—same price but smaller package. Now we also have “shadow-inflation”—same price but less service. (NYTimes or Seattle Times)
Consumer prices as measured by the...
Oct 08, 2021
Financial Literacy, Current Events, Economics, Investing, Student Loans, Career
Financial Literacy News
A bill making financial literacy education mandatory in Ohio now sits on the Governor’s desk awaiting his signature into law. Brian Page discusses this legislation on the Cleveland.com opinion page.
Wharton Finance Professor calls for mandatory finance education in this Knowledge @ Wharton opinion piece.
Read about the “Bridges to Wealth” program, founded by a Penn professor, and brining financial literacy into West Philadelphia that “levels the...
Sep 25, 2021
Economics, Current Events
EconExtra covers a news headline about Economics that might be worth a bit of a detour in an economics class to bring the real world into the classroom. The looming debt ceiling and fears of the US defaulting on its debt has been headline material for a few weeks, and will continue to hang out there until there is (hopefully) some resolution before we actually hit it. This topic would fall under CEE standard 20: Fiscal and Monetary Policy.
What the federal debt ceiling showdown...
Sep 24, 2021
Investing, Economics, Taxes, Student Loans, Retirement
The debt ceiling looming over DC. (NYT-subscription may be required) (Look out for an EconExtra on this topic posting tomorrow-9/25)
The Federal Open Market Committee met this week, keeping interest rates unchanged but signaling it may slow some of its support. (Yahoo Finance)
(If you have an hour and want to watch the Powell press conference, it’s available on YouTube.)
Housing market is calming down. (Yahoo Finance)
Jobless Claims this week largely unchanged. (CNBC)
Sep 17, 2021
Current Events, Investing, Economics, Student Loans, Retirement
This long but worthwhile article from the Atlantic expertly explains just how severe the shutdown and subsequent market responses were in March of 2020.
“The function of shares as risk‑bearing capital is to act as a shock absorber in hard times. Far more worrying than equity markets was what was happening in the market for bonds, and above all, U.S. Treasuries—the safe assets that promise a counterbalance to volatile equities.”
The article gives perspective...
Sep 10, 2021
Current Events, Economics, Behavioral Finance, Investing, Cryptocurrencies
As we commemorate the 20th anniversary of the 9/11 attacks, it might be interesting to remember that the stock market closed for four days following the attacks. To learn more about how the stock market/economy reacted to that event, and what lasting impact the event has had over these 20 years, check out this Investopedia article.
It might be interesting to have students research and reflect on the impact of the Covid pandemic, both in early days and since then, and see if there are any...
Sep 03, 2021
Current Events, Economics, Investing, Cryptocurrencies, Career, Retirement
A slightly longer list for your holiday weekend reading.
Today’s jobs report was disappointing. Only 235,000 jobs added in August (700k+ expected). (Yahoo Finance)
Previous months revised upward
Unemployment rate drops from 5.4% to 5.2%
Wages up, particularly for leisure and hospitality
Delta variant seems to be the cause of decline in leisure and hospitality jobs
Listen to the Indicator podcast from Planet Money as Mike Konczal, Director of Macroeconomic Analysis at...
Sep 01, 2021
Interactive, Budgeting, Economics
Where you live has a dramatic impact on your cost of living. As you will see below in the first interactive, a $50,000 earned in New York doesn't go nearly as far as a similar amount in South Dakota. This is an important concept for students to grasp as they consider where they want to settle after high school or college.
Now on to the interactives you can use with your students...
Interactive #1: This interactive uses Regional Price Parity (RPP) which estimates how much more or less...
Aug 27, 2021
Current Events, Economics, Cryptocurrencies, Budgeting, Behavioral Finance, Checking Accounts
Curious about how banks are doing with overdraft fees? Overdraft fees dropped during the pandemic in 2020, but have jumped back up 40% over a year ago. (BankingDive).
Ally Bank survey shows about half of adults are not talking discussing finances with their partner and launched a program to try to address this. PRNewsWire
Tik-Tok partners with Shopify to add in-app purchase link. Sounds like a dangerous development for users susceptible to FOMO and...
Aug 20, 2021
Current Events, Economics, Budgeting, Investing, Student Loans, Retirement
Retail sales dropped more than expected in July. (CNBC) But there are signs that back to school shopping for 2021 has rebounded, and may help August numbers. (NRF.com)
Goldman Sachs economists have cut back their third quarter GDP projections due to the resurgence of Covid/Delta variant. (Reuters)
2020 was the year of the entrepreneur. Startups jumped 24% over the previous year according to Census data. (NYT)
Here is this week’s data-heavy suggestion. A Data Scientist from the...
Aug 15, 2021
Question of the Day, Economics
Kicking off the 2021-22 school year with a new round of Questions of the Day. Every Monday through Thursday, you will see both new and updated questions posted on the NGPF Blog (sign up here). These engaging and thought provoking questions are sure to get your class off to a great start.
Overall, the U.S. population grew 7.4% to 331 million people in the last decade. Visit this U.S. Census interactive to see how the growth in your state and...
Aug 13, 2021
Current Events, Financial Literacy, Economics, Investing, Cryptocurrencies, Student Loans
Extrapolating data from a collaborative report with LendingClub, “Reality Check: The Paycheck-to-Paycheck Report,” 43 of the 71 million millenials in the US are living paycheck to paycheck, even those with higher incomes.
“Per the August report, “Many millennials are beginning to make larger expenditures for the first time, whether that means purchasing a car, taking out a mortgage or preparing financially to have children. These are all...
Aug 06, 2021
Current Events, Cryptocurrencies, Budgeting, Investing, Economics
Update 8/8/21: Department of Education extends student loan payment freeze one more (last) time until January. (NPR)
This might be a good one to assign to the families of your students: NPR on having family money conversations.
The July jobs report came out this morning and showed an increase of 943,000 and an upward revision of June. Unemployment dropped to 5.4%, wages were up, but labor force participation was largely unchanged. Jobs are still 5.7...