Several tech businesses reported that they would fire 220,000 individuals altogether in the first quarter. The stock value increased in the first three months of the year, which was good for the stock price but bad for the workers. The layoffs demonstrated to investors that tech businesses, after seeing a rise and expansion due to the pandemic, have a renewed sense of financial restraint, so a relief check is expected.
How Are Inflation & Unemployment Related?
The Federal Reserve has increased rates for almost a year, but the labor market is beginning to show easing symptoms. What effects will there be on wages and the working population? The national unemployment rate remained unchanged in March after the Federal Reserve started raising interest rates. In contrast to January and February, when reality much exceeded expectations, the economy contributed 236,000 jobs in March, which was far closer to what experts had predicted.
First Increase In Bank Deposits Since Bank Crises
After the two worst bank collapses since the financial crisis shook the banking industry and alarmed depositors, deposits at U.S. commercial banks increased near March end for the first time in roughly a month. Deposits at all commercial banks rose to $17.35 trillion in the week ending March 29 from a downwardly adjusted $17.31 trillion the week before, according to figures issued by the Federal Reserve. The ceasing of Silicon Valley Bank and Signature Bank in the middle of last month caused a record-breaking flight of deposits, and this uptick was the first since the beginning of March.
Track Your Tax Relief Check Status
There are millions of people awaiting refunds after filing their taxes. The best approach to ensure that your return is handled quickly is to file as soon as possible because, as time passes, more people may send their returns, which may cause processing delays. The IRS takes tax returns in a first-come, first-served fashion, reports As.
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