Many U.S. jobs are falling further behind inflation, study finds
Incomes are still trailing inflation four years after the pandemic-era surge in prices, causing a financial pinch for many households.
Watch CBS News
Incomes are still trailing inflation four years after the pandemic-era surge in prices, causing a financial pinch for many households.
Economists caution new tariffs could pose economic risks, but the White House says growth is rebounding amid low inflation.
The U.S. officially began levying higher tariffs on dozens of countries, just as the economic fallout of President Trump's months-long tariffs threats was beginning to create visible damage to the U.S. economy.
President Trump said he ordered his administration to fire Bureau of Labor Statistics Commissioner Erika McEntarfer after the July jobs report.
Hiring across the U.S. was weaker than expected in July, a sign the labor market is shifting into lower gear.
The Consumer Price Index in June rose 2.7% on an annual basis, in line with economists' predictions.
President Trump urges patience even as the U.S. economy shrank for the first time since early in the COVID-19 pandemic during the first three months of this year.
The economy shrank 0.3% in the first three months of the year, a steep downturn from the pace of growth in 2024.
Trump's ratings on economy are lower, but his deportation plan keeps majority support.
The U.S. stock market surged immediately after President Trump announced the pause on most of his new "reciprocal tariffs."
Illinois leaders want farmers and agricultural workers to know they have their backs when it comes to selling their good around the world, even amid President Donald Trump's escalating trade war.
President Trump announced the U.S. will impose a minimum baseline of 10% tariffs on goods imported from all foreign countries, along with further "reciprocal tariffs."
Stocks whipsawed on Monday on economic worries, ending the quarter with its worst performance in three years.
Most Americans say the matter of Trump administration officials discussing U.S. military plans on the Signal app is serious.
Job cuts spiked in February, marking their highest point since July 2020, due to firings of government workers directed by DOGE.
Canada, Mexico and China are hitting back with retaliatory tariffs. The moves raised fears of higher prices for U.S. consumers and a trade war.
A growing number of unemployed workers have been searching for a new job for more than 15 weeks, labor data shows.
Organizers of the protest said the current administration was warned of this out come if the War in Gaza persisted and U.S. funding to Israel continued. Meanwhile, as Charlie De Mar reports, immigrants' rights advocates are also concerned about what will happen in the new Trump administration.
CBS News polling showed that 45% of voters said their financial situation was worse today than it was four years ago.
"It's the economy, stupid," – A four-word strategy that helped Bill Clinton defeat incumbent President George H.W. Bush in 1992. Three decades later, the economy again was a driving factor in a presidential election. CBS News Chicago examined exit poll results and the way rising prices helped President-elect Donald Trump win his second term in office.
President-elect Donald Trump's vow to raise tariffs could have Americans paying more for goods, from toys to auto parts, experts say.
Trump also degraded the press, and doubled down on false claims of a stolen 2020 election.
The Federal Reserve just lowered its benchmark rate by 0.50 percentage points. Here's how the move could impact your finances.
Raising a child in the U.S. costs hundreds of thousands of dollars. Many younger Americans say they can't afford it.
The latest labor market data comes less than two weeks ahead of the Federal Reserve's decision on whether to cut interest rates.
Robert Magiet bought and is donating more than 30 air conditioners this week.
It was Suzuki's second career game-ending hit and Chicago's major league-leading 10th walk-off win this season.
Colson Montgomery hit a go-ahead double in the eighth inning, Jacob Gonzalez drove in three runs and the Chicago White Sox beat the Baltimore Orioles 8-2 on Monday night in the opener of their series.
One of the men then smashed our photographer's camera while the other smashed the windshield of our news truck.
The hottest days this week are expected to be Tuesday and Wednesday, with feels-like temperatures between 105 and 110 degrees.
Gov. JB Pritzker signed more than 60 bills since Friday, including new laws to increase transparency around rental fees and give some drivers an alternative to having their license suspended.
Chicago Mayor Brandon Johnson introduced a new ordinance Monday morning he said will increase protections for the city's renters.
The Supreme Court overturned a 90-year-old decision that allowed Congress to shield members of certain independent agencies from being fired by the president at will.
The Supreme Court allowed Lisa Cook to continue in her post as a member of the Federal Reserve Board of Governors while legal proceedings over President Trump's attempt to fire her continue.
The Supreme Court on Monday ruled that states can count mail ballots that are cast by Election Day but arrive later, rejecting a GOP challenge to a Mississippi law.
Illinois Gov. JB Pritzker on Thursday signed several new consumer protections into law, including a ban on junk fees.
CBS News Chicago has learned that Illinois home insurance premiums are not only higher than the nation's average, but going up faster too.
As an alternative to legalizing video gambling terminals citywide, Bally's offered to open slot machine lounges at O'Hare and Midway, saying the move would replace the $6.8 million the city budgeted from VGTs.
An Illinois law banning "swipe fees" on taxes and tips — already delayed twice by lawmakers — appears to be on life support after a federal judge that once permitted it issued a permanent injunction against it this week.
A new study from the Cook County Treasurer's office underlines growing concerns about the impact the Illinois megaprojects bill could have on the county's property tax base and overall fiscal health.
The north Chicago suburb of Glenview became the latest Illinois municipality this week to confirm mosquitoes testing positive for the West Nile virus this year.
Environmental and community groups are suing the U.S. Environmental Protection Agency for failing to act on a petition challenging U.S. Steel Gary Works operating permit renewal.
In the four years since Roe v. Wade was overturned and Illinois became a destination for abortion care, Illinois providers and advocates have rebuilt the state's infrastructure to support the tens of thousands of people who travel to the state for abortion services every year.
June is National Aphasia Awareness Month, raising awareness of a disorder that affects a person's ability to speak, write, and understand both spoken and written language.
The Chicago Department of Public Health issued a warning Tuesday about a possible measles exposure at O'Hare International Airport.
The Chicago Bears this weekend said they are assessing land at Wolf Lake Terminals in Hammond, Indiana, for a possible new stadium.
As an alternative to legalizing video gambling terminals citywide, Bally's offered to open slot machine lounges at O'Hare and Midway, saying the move would replace the $6.8 million the city budgeted from VGTs.
Daley's Restaurant, known as Chicago's oldest, has served Chicago's Woodlawn neighborhood for more than 130 years.
Walgreens is set to close in Chicago's Chatham neighborhood on Thursday, and there's growing concern about where families will get their medications.
The owners of Gene & Georgetti steakhouse are suing a concessions operator over their expansion at Midway International Airport.
Chicago rapper Twista has pleaded guilty to willfully failing to pay income taxes.
Lionel Richie's Chicago concert at the United Center has been postponed after the singer became sick at his tour opener in St. Paul, Minnesota.
Legendary musician Lionel Richie had to cut his performance short Wednesday night in St. Paul, Minnesota, leaving fans with many questions.
Clive Davis helped shape the careers of music stars including Janis Joplin, Bruce Springsteen and Whitney Houston.
Claude Guillemot and a flight instructor were flying in a twin-motor Cessna 421 on Friday evening. An investigation into the crash is underway.
The char-grilled Vienna beef hot dog is infused with giardiniera and provolone and is only offered for a limited time.
Chief Meteorologist Albert Ramon is tracking the latest on the dangerous heat and when the Chicago area will get some relief in First Alert Weather
The bought and is donating more than 30 air conditioners this week to give some residents relief from the stretch of extreme heat.
The new flag features an orange and yellow flame set against a green field—inspired by the "Skokie Spirit" stained glass at village hall.
A reporter and photographer were preparing to go on the air during the 4 p.m. newscast when two men in a white tow truck rushed at them while shouting racial slurs targeted at one of our journalists.
One of the men then smashed our photographer's camera while the other smashed the windshield of our news truck.
A Chicago Transit Authority switch worker was shot and killed in Chicago's Roseland community early Monday morning.
Robert Magiet bought and is donating more than 30 air conditioners this week.
Chicago Mayor Brandon Johnson introduced a new ordinance Monday morning he said will increase protections for the city's renters.
The hottest days this week are expected to be Tuesday and Wednesday, with feels-like temperatures between 105 and 110 degrees.
An Uber driver who was assaulted during a ride said he begged Chicago police officers not once but twice for help, but was left to fend for himself.
CBS News Chicago has learned that Illinois home insurance premiums are not only higher than the nation's average, but going up faster too.
The Cook County Sheriff's Office has been a part of Illinois' enhanced CTA security plan and state-led task force dedicated to making it safe since the end of March. Their officers have worked more than 4,000 hours a month.
A rideshare driver was shot in Chicago's North Lawndale neighborhood on Monday night.
After a violent holiday weekend, Chicago city leaders are expected to announce new support for a dedicated Department of Gun Violence Prevention.
It was Suzuki's second career game-ending hit and Chicago's major league-leading 10th walk-off win this season.
Colson Montgomery hit a go-ahead double in the eighth inning, Jacob Gonzalez drove in three runs and the Chicago White Sox beat the Baltimore Orioles 8-2 on Monday night in the opener of their series.
A memorial service was held Monday morning for Chicago Bulls broadcaster and three-time NBA champion Stacey King.
NASCAR is back in town next weekend, but not for a downtown street race — this time, for the first time in seven years, races will be held at Chicagoland Speedway in Joliet.
Jacob Webb (3-2) got the win with a scoreless ninth. Wicks notched his first save of the season.
A man was sentenced to eight years in prison earlier this month for robbing a mail carrier on Chicago's Near West Side back in 2022.
A new trial was denied Monday for Marni Yang, who is serving life in prison for a 2007 shooting that left a romantic rival dead.
A Chicago Transit Authority switch worker was shot and killed in Chicago's Roseland community early Monday morning.
A man was stabbed in the Printers Row district in downtown Chicago early Monday morning.
An Amazon Fulfillment Center in Matteson, Illinois, became a crime scene overnight Sunday into Monday, after an employee was shot and killed.
