The Daily Money: Teens to cash in on summer jobs; Uber introduces car sharing
This is Amritpal Kaur Sandhu-Longoria with your Daily Money headlines for Thursday.
Looks like teens can make a bit more money with that summer job. Teens are expected to make up nearly one in five summer hires this year and the job market looks strong for this demographic, despite the overall economy slowing.
Teens' entry into the job market is primarily encouraged by higher pay, with the average national wage for 15- to 19-year-olds projected to reach $14.56 per hour this summer, up 9% from a year ago.
Restaurants, amusement parks, hotels, malls and other businesses that has faced pandemic worker shortages may benefit from teens seeking summer jobs.
Uber wants to rent out your car
Want to rent your neighbor's car? With Uber Carshare, you'll be able to do just that in Boston and Toronto in the coming months.
The ride-hailing firm first launched the initiative in Australia and allowed people to borrow vehicles from private car owners for a set amount of hours or days.
With the rental car shortage, peer-to-peer car sharing companies like Turo and Getaround saw a boost in 2021. Uber's Carshare pricing will vary based on location, time, vehicle and age.
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Each weekday, The Daily Money delivers the best consumer news from Paste BN. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.