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 What's Happening Today Good Morning, it's Kristin with your daily morning digest.
The Labor Department released its December jobs report, showing hiring rose less than expected. While the U.S. economy only added 199,000 jobs—less than half of what economists were anticipating—unemployment ticked downward to 3.9%, lower than the 4.1% forecasted. The hard-hit sector of leisure and hospitality added just 53,000 jobs in December, up from the 41,000 in November, but well below the 211,000 added in October. In total, the sector added 2.6 million jobs last year.
Today the Supreme Court will hear the first arguments challenging the president's mandate that all workers at companies with more than 100 employees be vaccinated against coronavirus or get tested each week. The lawsuit is being led by Republican-led states, business and religious groups. Previously, the Supreme Court has upheld vaccine mandates that have faced constitutional challenges.
And in case you missed it this week, the Consumer Financial Protection Bureau (CFPB) found that if you had a complaint about your credit report, your chances of getting it resolved were slim to none. According to a report from the CFPB, an agency that looks out for consumers' best interests, just 2% of complaints received by the big three credit bureaus—Equifax, TransUnion, and Experian—were resolved in 2021. But there is good news: In addition to being in good company if you made a complaint (I made one last year that was ignored!), the CFPB has pledged it will "use its authorities" to make sure that more than 2% of consumers get a reply to their complaints going forward.
- Kristin
Editors' Picks December Job Growth Falls Well Short of Hopes (The Balance) Supreme Court to Hear Major Challenges to Biden's Vaccine Mandates (The New York Times) Cost of Covid-19 Testing Exceeds $100 for Some Families as Omicron Surges (The Wall Street Journal) Homeownership More Affordable Than Renting—For Now (The Balance) Off the Charts The rapid spread of the omicron variant of COVID-19 has made a dent in consumers' confidence, according to The Morning Consult's Index of Consumer Confidence. The index, which is based on a daily poll of how U.S. adults feel about the economy, has fallen 2.6% since Dec. 24.  Number of the Day /8.75-15f390c002f449df86fcb9da3ff8898a.png) 8.75 - That's how many of the last 13 years the Fed's benchmark interest rate has been near zero, showing borrowing will change as the central bank begins raising it.
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More From The Balance /TaxesonUI_GettyImages-1253432590-24403caf70bb403bb4e5fbc818119585.jpg) Although many taxpayers were exempt in 2020, unemployment benefits are considered taxable income for the year 2021. Here's what to know about taxes on unemployment benefits. /FirstTimeHomebuyerLoans-ccabfd35914040dcb1ff510f34067790.jpeg) This type of lending is designed to help people purchase their first house, often in specific geographic regions. Learn more about these programs. /HowToInvestinNFTsJan.62022-3d118590062849598fcc783dbba82966.jpg) To invest in NFTs, you'll need to open an account, explore your options, and know the risks associated with NFTs. Learn more about investing in non-fungible tokens.
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Slowing Job Growth
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