Labor Market and Emergency Expenses: Recent Finance News Trends

A look at the finance industry news from PR Newswire in May and June that you might have missed.

 

 

By Jacqueline Gomez | Published July 12, 2023

 

Out of the 7,800+ finance-related press releases PR Newswire distributed in May and June, our team is diving in to see which stories made the list for most-read and reoccurring story trends.

With the end of spring and the start of summer, the labor market is seeing impressive numbers, from job satisfaction to annual pay increases. But while wages have increased, consumers are still feeling the effects of inflation, leaving them without reserve funds for emergencies.

We'll begin with some of the most-viewed releases of the two-month period.

Some of the Most Popular Finance Releases

These releases were among the top 10 most-read for the finance industry in May and June 2023:

• TD Bank and First Horizon Mutually Agree to Terminate Merger Agreement
• Lucid Group, Inc. Announces Public Offering of Common Stock and Corresponding Investment by an Affiliate of PIF for Aggregate Expected Gross Proceeds of Approximately $3.0 Billion
  
• Elliott Sends Letter and Presentation to the Board of Goodyear
• Wealthfront Launches Highly Anticipated Automated Bond Portfolio With A 5.48% Blended 30-Day SEC Yield
  
• Medtronic to acquire wearable insulin patch maker EOFlow

 

Finance News Trends

Here’s a look at some trends we noticed among finance-related press releases in May and June 2023.

Labor Market and Unemployment Rate

Despite fears of a looming recession earlier in the year, experts are now saying that the chances are slim. Why? A strong labor market.

According to LISEP, the percentage of Americans with living-wage jobs improved significantly from April to May, improving for all major demographics. And the Bureau of Labor Statistics reported an unemployment rate of 3.6% for June, underlining the robust labor market.

Recent Conference Board data shows workers are reporting record-high job satisfaction. It’s especially high for those that changed careers during the pandemic; the decision appears to be paying off with higher wages and more satisfaction in their new roles.

Releases hitting the wire in May and June reflect that sentiment and included data showing increased workers' pay, better benefits, and improved work-life balance.

In the last two months, 147 releases mentioned the labor market and unemployment rate. Here are a few that stood out:

• Survey: US Job Satisfaction Hits All-Time High
• ADP National Employment Report: Private Sector Employment Increased by 296,000 Jobs in April; Annual Pay was Up 6.7%
  
• Resilient U.S. Economy Continues to Avoid Recession -- So Far
• Living-Wage Job Market Improves in May, Says Ludwig Institute
  
• Employ Prince George's Launches Evidenced Based Career Coaching Initiative to Help Remove Barriers to Employment for Workers-in-Transition
  

Emergency Expenses and Savings

Despite the wage increases, there are still those who are living paycheck to paycheck. Inflation has left Americans feeling pressure when it comes to having funds for unexpected emergencies. These expenses can be anything from medical bills to house and vehicle repairs. As the cost of goods has increased, so have those for healthcare and childcare. And the stress extends beyond the wallet to workers' mental health state.

College students also report struggles coming up with funds in case of an emergency, especially those using income or savings to pay for their education.

On the wire, we've seen various companies working to help consumers find ways to better manage their money.

Throughout May and June, dozens of releases focused on this lack of savings and increased expenses. Let’s see what Americans are reporting:

• Survey Finds About Half of American Workers are Suffering from Financial Stress
• New Money App from Achieve Guides Consumers to Find and Save More 'Money Left Over' Each Month
  
• New Report Finds 57% of College Students Lack Emergency Funds
  
• Nearly 1 in 3 Parents in the U.S. Say Money Keeps Them From Having More Children
  
• Consumer Emergency Expenses Rise 16% Year-Over-Year to $1,700, Far Exceeding The $400 Benchmark
  

Conclusion

A strong labor market has led to high job satisfaction and wages, but inflation and slowing wage increases mean workers are looking for ways to find financial stability to avoid additional financial stress. Brands are working to remind consumers to remain financially mindful of their expenses and seek ways to build savings for unexpected events.

Over the next few months, our team will continue to follow these trending stories for any changes.  

 

 

About the Author

Jacqueline Gomez is a Customer Content Specialist for PR Newswire and Industry Ambassador and has been with the company since 2021. She has a BA in Business Management and is working on her MBA. Outside of work, you can find her sipping coffee or doing yoga. She is also a dog mom of two and a wife. She and her husband will be celebrating their 10th wedding anniversary in August.