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In debt for dad: Consumers to show Father’s Day appreciation with $22.4 billion in spending
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In debt for dad: Consumers to show Father’s Day appreciation with $22.4 billion in spending

By Aislinn Murphy | Fox Business Scores of American consumers have fathers and father figures for whom they want to show their appreciation this Father’s Day, and according to a National Retail Federation (NRF) estimate, they will collectively splash out an eye-popping amount of money to do so. The NRF and Prosper Insights & Analytics found in a survey that this year’s expected Father’s Day spending by American consumers will amount to the "second highest figure in the survey’s history" at $22.4 billion, according to a news release.  The survey found 75% of U.S. consumers expressed intentions to partake in the holiday. READ THE FULL STORY AT FOX BUSINESS
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Survey: Nearly 50% of parents with young children take on debt for Disney trip
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Survey: Nearly 50% of parents with young children take on debt for Disney trip

By Daniella Genovese | Fox Business Nearly 50% of parents with young children are going into debt after taking a trip to one of Disney's theme parks, according to a recent LendingTree report. LendingTree surveyed more than 2,000 consumers, 24% of which have gone into debt for the trip, a 33% increase from its 2022 findings. However, that figure jumped to 45% among parents with children younger than 18, according to the data. Of the parents with young children who have taken on debt, almost all of them, 83%, did so in the past five years. Parents, faced with tighter budgets and persistent inflation, "are more likely to take on debt than before," according to LendingTree. READ THE FULL STORY AT FOX BUSINESS
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Your Social Security COLA increase could be smaller than expected next year
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Your Social Security COLA increase could be smaller than expected next year

By Megan Henney  | Fox Business Social Security recipients are on track to receive a cost-of-living adjustment (COLA) next year that is smaller than previously expected after inflation moderated more than expected in May. Mary Johnson, a retired Social Security and Medicare analyst, estimated the adjustment could be about 3%, based on May inflation data, which showed the consumer price index was unchanged from the previous month and is up 3.3% from the same time last year. Both figures are lower than expected, suggesting high inflation is loosening its grip on the U.S. economy. READ THE FULL STORY AT FOX BUSINESS
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Skilled workers are in demand; these trade jobs pay the most
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Skilled workers are in demand; these trade jobs pay the most

By Breck Dumas | Fox Business Trade jobs in the U.S. are in a renaissance with high demand for skilled workers and waning interest in college among young adults. The shortage of workers in the trades has driven up the pay, making those positions more attractive and the training a better payoff than a four-year college degree, in many instances. Using data from the U.S. Bureau of Labor Statistics, job site Indeed recently reported that the average salary for a trade job in America is $61,900, but several occupations pay much more, even just starting out. READ THE FULL STORY AT FOX BUSINESS
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Report: Home foreclosures are on the rise again nationwide
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Report: Home foreclosures are on the rise again nationwide

By  Megan Henney | FOX BUSINESS Home foreclosures rose again in May as Americans continue to grapple with the ongoing cost-of-living crisis.  That is according to a new report published by real estate data provider ATTOM, which found that there were 32,621 properties in May with foreclosure filings, which includes default notices, scheduled auctions and bank repossessions. That marks a 3% increase from the prior year, although it is down 7% from the same time last year.  "May’s foreclosure activity highlights nuanced shifts in the housing market," said ATTOM CEO Rob Barber. "While we observed a slight increase in foreclosure starts, the decline in completed foreclosures indicates resilience in certain areas." READ THE FULL STORY AT FOX BUSINESS
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