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Tech Sector Drives Record Layoffs in 2023

Allwork

According to a report published by Yahoo Finance , this surge, which was the highest since 2020, was led by high-profile tech layoffs from giants like Meta and Amazon. More specifically, the tech sector is reported to have experienced a 73% increase in job cuts — closely mirroring the record highs of 2001.

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Half Of Workers Expect To Work Past 70 As Financial Strain Intensifies

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The data reveals the percentage living paycheck to paycheck reached 44% this year — up from 37% in 2020. This stark reality coincides with a rising number of employees living paycheck to paycheck this year. With these growing concerns about financial stability, many workers fear they won’t be able to retire comfortably.

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How Remote Working Is Impacting Office Valuations Across Big Cities

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A working paper from NYU and Columbia University researchers shows that the value of New York City’s office buildings fell by one-third during 2020. . Using data from commercial real estate database CompStak, Van Nieuwerburgh and the other researchers were able to determine that lease revenues fell 8% from January 2020 to December 2021.

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Job Openings Are Significantly Decreasing In The US

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August’s decline was the largest decline since April of 2020, just as the economy began to suffer from the first wave of the pandemic. central bank has hiked its policy rate from near zero to the current range of 3.00% to 3.25%, and last month it signaled more large increases were on the way this year, according to Yahoo Finance.

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Is WeWork Going Bust?

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To illustrate this, consider Hertz, the car rental company that went into Chapter 11 bankruptcy in May 2020. In the era of easy money, that cashflow deficit could have been financed by issuing more equity. WeWork’s share price has been falling for pretty much the whole of 2022, from $9.21 3 to $1.71 Net income in 2021 was -$4.8

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Data Reveals a Steep 45% Decline in Venture Capital for Black Entrepreneurs

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Why it matters: Investments in Black entrepreneurs constituted only 2% of all VC dollars, whereas Black women-led businesses received even less at only 1%.

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7 Apps to Teach Kids About Money

Success

The days of working hard to earn a buck aren’t exactly gone, but the personal finance landscape is certainly more complicated now than it was a few decades ago. Meanwhile, only 21 states required a personal finance course for high school students in 2020, according to the Council for Economic Education. Toshl Finance.

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