{"id":9314,"date":"2023-10-16T15:49:22","date_gmt":"2023-10-16T20:49:22","guid":{"rendered":"https:\/\/lepperaccounting.com\/?p=9314"},"modified":"2023-10-16T16:15:24","modified_gmt":"2023-10-16T21:15:24","slug":"business-update-18-october-2023","status":"publish","type":"post","link":"https:\/\/lepperaccounting.com\/business-update-18-october-2023\/","title":{"rendered":"Business Update \u2013 18 October 2023"},"content":{"rendered":"
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.<\/p>\n
Inflation rose more than expected in September<\/a> as a spike in the cost of rent and food kept prices abnormally high for millions of U.S. households. The Labor Department said the consumer price index, a broad measure of the price for everyday goods, including gasoline, groceries and rents, rose 0.4% in September from the previous month, a slight improvement from August but still more than expected.<\/p>\n U.S. small business sentiment declined slightly again in September on continued concern over inflation and persistent labor shortages, a survey published by the National Federation of Independent Business<\/a> (NFIB) reported.<\/p>\n The United Auto Workers union’s strike against Detroit’s Big Three automakers is now in its fourth week and has already cost the\u00a0U.S. economy<\/a>\u00a0more than any other auto industry strike this century.<\/p>\n Google is taking a big step toward making passkeys the default login option for its users.\u00a0What this means<\/a>\u00a0 is users logging in to personal Google accounts will be prompted to create and use passkeys instead of passwords when possible.<\/p>\n Social Security benefits will increase 3.2% in 2024 for the nation\u2019s 71 million recipients, due to the cost-of-living adjustment (COLA).<\/a> The SSA also said that the maximum amount of earnings subject to Social Security tax (also known as the wage base) will rise to $168,600, up 5.2% from the $160,200 base in 2022.<\/p>\n The “golden path”<\/a> some Federal Reserve officials see leading to lower inflation without high unemployment may, like the pot of gold at the end of a rainbow, prove hard to find as they navigate a world of fast-adjusting markets and a new Middle East war.<\/p>\n The Federal Reserve\u2019s aggressive campaign against inflation faced a speedbump Thursday after Labor Department data revealed\u00a0consumer prices rose more in September than anticipated<\/a>.<\/p>\n SpaceX\u2019s Starlink will be available on most aircraft soon<\/a>, said Elon Musk. The technology will be available for use by any operator if it is ordered.<\/p>\n The U.S. economic picture heading toward the holiday season is not perfect, according to Jack Kleinhenz,<\/a> chief economist for the National Retail Federation (NRF). The trade group has not released expectations for holiday sales, but has reduced its full-year estimates.<\/p>\n Contact us if you have any questions or want to discuss the next steps for your business.<\/p>\n Contact us<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. September inflation breakdown: Where are prices rising the fastest? Inflation rose more than expected in September as a spike in the cost of rent and food kept prices abnormally high for millions of U.S. … Continued<\/a><\/p>\n","protected":false},"author":2,"featured_media":8449,"comment_status":"close","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[76],"tags":[],"jetpack_publicize_connections":[],"acf":[],"yoast_head":"\nUS small business sentiment declines moderately -NFIB<\/h2>\n
United Auto Workers strike: cost to US economy sets new record<\/h2>\n
Google will now make passkeys the default for personal accounts<\/h2>\n
Social Security Benefits will rise 3.2% in 2024, while top tax jumps 5.2%<\/h2>\n
Fed’s ‘golden path’ to lower inflation may have some potholes<\/h2>\n
Consumer prices rose hotter-than-expected in September<\/h2>\n
Starlink to be available on most aircraft soon, says Elon Musk<\/h2>\n
NRF: U.S. economy \u2018more resilient\u2019 than expectations<\/h2>\n
Get in touch<\/h2>\n