Despite strong job growth, Americans are working fewer hours. We explain why.
Happy Thursday, Daily Money readers! It’s Paul Davidson bringing you the day’s top stories.
Despite strong job growth, Americans are toiling fewer hours these days. The average number of weekly hours each worker puts in has fallen to 34.3 in May from 35 in January 2021. That’s the lowest since before COVID, excluding the depths of the pandemic
The trend can be attributed to employees’ desire for more flexible schedules and employers’ reluctance to lay off workers amid softer customer demand because of stubborn labor shortages. In other words, companies may have more workers than they need so they’re giving each fewer hours.
The June jobs report, out Friday, will show whether the trend continued last month.
Beware student loan forgiveness scams
Federal and state officials are warning of an expected increase in scams after the Supreme Court struck down President Biden’s student loan forgiveness program last week.
Scammers may claim to represent the “student loan forgiveness center” and tout a settlement that lets recipients “fully discharge” their student loan debt.
The person calling, texting or emailing may urge you to send money to handle your “application” or provide personal information. They typically use fake caller IDs to appear legitimate.
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🍔Today's Menu🍔
As if today being almost Friday isn’t exciting enough, guess what: It’s National Fried Chicken Day!
There’s no shortage of discounts and offers, many of which continue past Thursday. KFC is offering free delivery when you order online or through its app through July 9.
At Popeyes, when you order a chicken sandwich combo on the Popeyes app, online or via DoorDash through July 9, you’ll get a free a la caret chicken sandwich.
And the fast-casual Asian fusion chain Bonchon is offering free delivery on all orders placed on Bonchon.com through Thursday.
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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.