Incomes are falling in 17 states. Here are the hardest-hit areas.
Many Americans are sour about the economy as median household incomes took a hit in one-third of U.S. states, while stagnating elsewhere.
Economy
Social Security benefits to rise 3.2% in 2024
The Social Security Administration said its 2024 cost-of-living adjustment will be 3.2%, a much smaller bump than the 8.7% increase seniors and other beneficiaries received this year. Mark Miller, a contributor to The New York Times, joined CBS News to discuss the adjustment.
Explaining the latest on inflation
The Consumer Price Index rose 0.4% last month with energy and housing prices contributing to the increase. Greg Robb, a senior economic reporter for MarketWatch, joined CBS News to break down the numbers.
Autoworkers walk out at Ford's largest factory as UAW escalates strike
Nearly 9,000 unionized workers at Ford's Kentucky truck plant walked off the job, targeting the automaker's most profitable vehicles.
PPI up slightly higher than expected
The Producer Price Index, measuring how much wholesale goods cost, rose half a percentage point in September, slightly higher than the 0.3% some experts expected. More than 40% of the increase can be attributed to a rise in energy costs. Business journalist Kristin Myers joined CBS News to discuss the numbers.
Nobel in economics awarded for research on workplace gender gap
Claudia Goldin, whose work shed light on the gender gap in pay, is just the third woman out of 93 economics laureates to win the Nobel.
UAW members reject tentative contract deal with Mack Trucks
The United Auto Workers union says members at Mack Trucks have voted down a tentative five-year contract agreement reached with the company and plan to strike at 7 a.m. Monday.
Biden's new plan for more manufacturing jobs
During President Biden's remarks today on the September jobs market, he took questions on why sentiments among Americans about the economy may not reflect what the strength this month's data yields. Biden also announced more American jobs in manufacturing. CBS News chief White House correspondent Nancy Cordes has more.
Jobs soared beyond expectations this month
Businesses are still hiring at a high rate as consumer spending remains robust. Colby Smith, a U.S. economics editor for the Financial Times, joins CBS News with some of the indicators of where the economy is headed next.
"Surprising" September jobs report
The September jobs report showed that the U.S. economy created 336,000 jobs last month -- a sign that the job market remained strong despite challenges with inflation. Jeanna Smialek, a Federal Reserve and U.S. economy reporter at The New York Times, has more.
U.S. office occupancy rates still low
Bosses across America's biggest cities are still struggling to get workers back into the office. Andrew Keshner, a MarketWatch reporter, joins CBS News with some reasons why the hybrid model continues to prevail after the pandemic.
High costs still making consumers angry
People across the country remain "deeply dissatisfied" with the state of the economy even as the rate of inflation declines. Amara Omeokwe, an economics reporter with The Wall Street Journal, shares her latest reporting on why consumers remain angry.
Senators to visit China amid growing tensions
A bipartisan delegation of U.S. senators will travel to China next week. The visit comes amid a time of persistent disagreement over policies concerning Taiwan, the South China Sea and what the U.S. calls genocide of the country's Uyghur population. Patrick Cronin, Asia-Pacific security chair at the Hudson Institute, joins CBS News to discuss what's at stake for the visit.
How student loan restart could impact economy
Tens of millions of Americans are expected to resume paying student loans after a three-year pandemic-era pause. CBS News correspondent Carter Evans has more. Plus, Politico education reporter Michael Stratford explains how the Biden administration is attempting to ease the burden for borrowers.
Gen Z's troubling relationship with debt
As the U.S. economy sees increased inflation and interest rates, many young adults are finding themselves sinking deeper into debt. Catey Hill, managing editor for MarketWatch Picks, joined CBS News to discuss how accumulating debt could have a long-term effect on Gen-Z Americans.
Stock futures up after shutdown averted
Wall Street index futures kicked off October on a high note after lawmakers averted a government shutdown. Investors will wait to hear from Federal Reserve Chair Jerome Powell on Monday for more on the central bank's interest-rate path. CBS News contributor Javier David, managing editor for business and markets at Axios, has more.
Home affordability in the U.S. nosedives
The typical American cannot afford to buy a home in a growing number of communities across the nation under common lending standards, according to a new report from real estate data provider ATTOM. Researchers examined the median home prices last year for roughly 575 U.S. counties and found that home prices in 99% of those areas are beyond the reach of the average earner, who makes $71,214 a year, according to ATTOM.
Tracking the impact of interest rate hikes
The average interest rate on a credit card in November 2021 was 16.4%. As of September, the average credit card interest rate is nearly 24.5%. Javier David, managing editor at Axios, joined CBS News to discuss other ways rising interest rates are putting pressure on Americans.
U.S. Real GDP higher than thought in new data
The U.S. Real GDP increased at an annual rate of 2.1% for the second quarter of 2023, according to a revised report released Thursday by the Bureau of Economic Analysis. Julia Pollak, chief economist for ZipRecruiter, joined CBS News to discuss the numbers.
Richest 20% now richer than before COVID: Fed
Americans were able to save more money during the pandemic because they were spending less due to lockdown restrictions, but new data from the Federal Reserve shows that excess money has now run out for most people. Alex Tanzi, a senior editor for the U.S. economy team at Bloomberg, joined CBS News to discuss how the rich have gotten richer and everyone else has, at best, what they had before the coronavirus pandemic.
Should Ukraine rethink its counteroffensive?
Ukrainian forces have been making slight gains in their counteroffensive against Russia. But as "The Economist" reports -- this plan may only be a short-term solution in a long-term conflict. Zanny Minton Beddoes, editor-in-chief of The Economist, joins CBS News to discuss her recent trip to the war-torn country -- and her conversation with Ukrainian President Volodymyr Zelenskyy.
Jobless claims are growing in some states
While jobless claims are at an eight-month low, unemployment rates vary across the U.S. Since last year, the unemployment rate in 18 states has fallen by half a percentage point or more. But three states, plus Washington, D.C., have seen claims rise. Al Root, senior writer for Barron's, joined CBS News to discuss the job market.
More young adults in the U.S. are living at home with their families
Roughly 45% of Americans ages 18 to 29 are living at home with their families — the highest level in 70 years, new data shows.
Lack of affordable homes impacting 2024 race
A recent CBS News poll finds that 65% of voters disapprove of the way President Biden is handling the economy compared to just 35% who approve, with lack of home affordability likely factoring into those numbers. Middle-income households, or those with annual earnings of up to $75,000, can afford only 23% of the homes listed for sale in the U.S., according to data posted over the summer from the National Association of Realtors. Mark Niquette, economy and politics reporter for Bloomberg News, joined CBS News to discuss the home-buying situation.
Analysis: UAW strike, Fed's decision on rates
CBS News business analyst Jill Schlesinger joins "CBS Mornings" to discuss the Federal Reserve's decision to hold interest rates steady this month. She also addresses the United Auto Workers union strike and how it it might impact the economy.
Live
DOJ releases huge new set of Epstein files with many mentions of Trump
The Justice Department early Tuesday released more than 11,000 additional documents and photos from the Jeffrey Epstein files. Follow live updates here.
Exclusive
Trump administration seeks to cancel thousands of asylum cases
ICE has filed more than 8,000 requests to toss out asylum claims in immigration court, asking judges to send immigrants to third-party countries.
U.S. GDP grew at a blistering 4.3% pace in the third quarter
Economists polled by financial data firm FactSet had forecast an annualized 3% pace for the July to September period.
Trump announces new "Trump class" of Navy battleships
President Trump announced plans to build a new "Trump class" of battleships, part of the Pentagon's new "Golden Fleet."
At least 5 people killed in Mexican navy plane crash near Galveston, Texas
A small Mexican navy plane on a medical mission crashed Monday near Galveston, Texas, killing at least five people.
Brown University police chief placed on leave after mass shooting
Brown University police chief Rodney Chatman has been placed on leave after the mass shooting that killed two students in Providence, Rhode Island.
Rob and Michele Reiner's children release new statement on memorial plans
The children of slain filmmaker Rob Reiner and his wife, Michele Singer Reiner, have released another statement in the wake of their parents' deaths.
Trump calls release of photos of people in Epstein files "a terrible thing"
President Trump has responded to the release of the Epstein files, saying Monday that the release of photos risked ensnaring "highly respected" people with no connection to Epstein's crimes.
FDA approves Wegovy pill for weight loss
The Food and Drug Administration has approved a pill version of the weight-loss drug Wegovy.
U.S.
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Rob and Michele Reiner's children release new statement on memorial plans
The children of slain filmmaker Rob Reiner and his wife, Michele Singer Reiner, have released another statement in the wake of their parents' deaths.
U.S. GDP grew at a blistering 4.3% pace in the third quarter
Economists polled by financial data firm FactSet had forecast an annualized 3% pace for the July to September period.
Aubrey O'Day opens up about disturbing Sean "Diddy" Combs affidavit
Aubrey O'Day discusses the disturbing witness affidavit involving Sean "Diddy" Combs in a "CBS Mornings" interview on Tuesday.
Exclusive
Trump administration seeks to cancel thousands of asylum cases
ICE has filed more than 8,000 requests to toss out asylum claims in immigration court, asking judges to send immigrants to third-party countries.
Live
DOJ releases huge new set of Epstein files with many mentions of Trump
The Justice Department early Tuesday released more than 11,000 additional documents and photos from the Jeffrey Epstein files. Follow live updates here.
MoneyWatch
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U.S. GDP grew at a blistering 4.3% pace in the third quarter
Economists polled by financial data firm FactSet had forecast an annualized 3% pace for the July to September period.
FCC banning new foreign-made drones, a move China calls "discriminatory"
The Federal Communications Commission says it's banning new foreign-made drones, a move that will keep new Chinese-made drones out of the U.S. market.
Mercedes-Benz to pay nearly $150 million to settle states' emissions allegations
Mercedes-Benz USA and parent company Daimler AG agreed to settle allegations the automaker secretly installed devices in hundreds of thousands of vehicles to pass emission tests.
FDA approves Wegovy pill for weight loss
The Food and Drug Administration has approved a pill version of the weight-loss drug Wegovy.
Aetna to cover IVF treatments for same-sex couples in national settlement
A federal judge has approved a preliminary agreement for a class action lawsuit requiring Aetna to cover fertility treatments for same-sex couples as they do with heterosexual couples.
Politics
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FCC banning new foreign-made drones, a move China calls "discriminatory"
The Federal Communications Commission says it's banning new foreign-made drones, a move that will keep new Chinese-made drones out of the U.S. market.
Exclusive
Trump administration seeks to cancel thousands of asylum cases
ICE has filed more than 8,000 requests to toss out asylum claims in immigration court, asking judges to send immigrants to third-party countries.
How to watch the Kennedy Center Honors tonight on CBS and Paramount+
The 2025 Kennedy Center Honors will be broadcast tonight, Dec. 23, celebrating George Strait, Gloria Gaynor, Kiss, Michael Crawford and Sylvester Stallone.
George Conway files paperwork to run for Congress as Democrat
George Conway, a conservative lawyer turned vocal critic of President Trump, has filed paperwork for a bid to represent New York City in the House.
Live
DOJ releases huge new set of Epstein files with many mentions of Trump
The Justice Department early Tuesday released more than 11,000 additional documents and photos from the Jeffrey Epstein files. Follow live updates here.
HealthWatch
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FDA approves Wegovy pill for weight loss
The Food and Drug Administration has approved a pill version of the weight-loss drug Wegovy.
Aetna to cover IVF treatments for same-sex couples in national settlement
A federal judge has approved a preliminary agreement for a class action lawsuit requiring Aetna to cover fertility treatments for same-sex couples as they do with heterosexual couples.
Flu season is ramping up, and some experts are "pretty worried"
Doctors and scientists say this year's influenza season could be tougher than usual, with a new version of the flu virus, called H3N2, spreading quickly.
Finding hope through cancer clinical trials
#LillyPartner Cancer clinical trials can offer patients access to investigational treatments that can be explored as early as the time of diagnosis. Ovarian cancer survivor Alicia Dellario and Dr. Arjun Balar, senior vice president of global clinical development at Eli Lilly and Company, join "CBS Mornings" to talk about the potential benefits of cancer clinical trials -- and clarify common misconceptions. Visit cancerclinicaltrials.lilly.com for more information. (Sponsored by Eli Lilly and Company)
Details on new flu strain as cases rise
The Centers for Disease Control and Prevention estimates there have been 4.6 million flu cases across the U.S. since the season began. Dr. Amanda Kravitz, a pediatrician at Weill Cornell in New York, explains what to know about rising cases, symptoms to watch for and how to protect your family.
World
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Major pre-Christmas Russian attack on Ukraine kills at least 3
Russia fired more than 650 drones and three dozen missiles at Ukraine in a major pre-Christmas attack, killing at least three people including a child.
British man charged with repeatedly drugging and raping his now ex-wife
Philip Young was charged with 56 sexual offences, including multiple counts of rape and administering a substance with the intent to "stupefy" Joanne Young, his ex-wife.
Banksy unveils new art in London
The elusive street artist posted two photos of an artwork on his official Instagram account amid speculation that he was behind it. An identical image appeared elsewhere.
Chris Rea, British singer of "Driving Home for Christmas," dies at 74
Chris Rea found fame in the 1980s in Britain with hits such as "Fool (If You Think It's Over)" and "Let's Dance."
Bondi Beach gunmen got firearms training together, police say
The man police say killed 15 people at Sydney's Bondi Beach along with his father obtained firearms training with him, documents show.
Entertainment
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Aubrey O'Day opens up about disturbing Sean "Diddy" Combs affidavit
Aubrey O'Day discusses the disturbing witness affidavit involving Sean "Diddy" Combs in a "CBS Mornings" interview on Tuesday.
How to watch the Kennedy Center Honors tonight on CBS and Paramount+
The 2025 Kennedy Center Honors will be broadcast tonight, Dec. 23, celebrating George Strait, Gloria Gaynor, Kiss, Michael Crawford and Sylvester Stallone.
"Call of Duty" co-creator Vince Zampella dies after crash on Los Angeles highway
Vince Zampella, a video game developer known for pioneering iconic franchises like "Call of Duty," died in a car crash on the Angeles Crest Highway in Los Angeles County on Sunday afternoon.
Barry Manilow reveals lung cancer diagnosis, cancels concerts due to surgery
The singer said an MRI showed a cancerous spot on one of his lungs after he recovered from a lengthy bout of bronchitis.
Chris Rea, British singer of "Driving Home for Christmas," dies at 74
Chris Rea found fame in the 1980s in Britain with hits such as "Fool (If You Think It's Over)" and "Let's Dance."
Technology
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Technology
Instacart ending AI price tests for retailers
Instacart says its ending its controversial system of using AI price tests for retailers. Earlier this month, an investigation by Consumer Reports and progressive think tank Groundwork Collaborative found that Instacart's algorithmic pricing charged various prices for the same item from the same store. Jo Ling Kent reports.
Tech companies push for data centers
Massive tech companies wanting to build more data centers in the U.S. are lobbying for support among Americans, according to a recent report by POLITICO. Gabby Miller joins CBS News with more on her reporting.
How AI powered robots are helping small farms
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
Top tech gadgets of 2025
Timothy Werth, a tech editor at Mashable, joins "CBS News 24/7" to discuss the best gadgets of 2025.
Instacart to end AI price tests for retailers following investigation
Instacart had drawn criticism for testing an AI-based system that enabled retailers to charge different prices for the same grocery items.
Science
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Major climate research center on Trump administration chopping block
The Trump administration intends to dismantle one of the world's leading climate research institutions, in Boulder, Colorado, over what it said were concerns about "climate alarmism."
Researchers capture video of rare polar bear adoption
The footage of a bear caring for an adopted cub was captured during the annual polar bear migration along the Western Hudson Bay in Churchill, Manitoba.
Dinosaur tracks showing "herds moving in synchrony" found in Italy
Most of the footprints are elongated and made by bipeds. The best-preserved ones bear traces of at least four toes.
Interstellar comet is making its closest approach to Earth
NASA continues to aim its space telescopes at the visiting ice ball, estimated to be up to 3.5 miles in size.
Fossil footprints in Bolivia reveal dinosaurs' awkward attempts to swim
Paleontologists have discovered and documented 16,600 footprints left by theropods, the dinosaur group that includes the Tyrannosaurus rex.
Crime
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Crime
DOJ releases more Epstein files
The Department of Justice has released another batch of files related to convicted sex offender Jeffrey Epstein. CBS News' Scott MacFarlane reports.
New details about suspected Bondi Beach gunmen
Australian police released new documents Monday showing the father and son who are accused of killing 15 people at Bondi Beach undergoing firearms training just weeks before the attack. CBS News' Anna Schecter reports.
DOJ's Epstein files redactions draw criticism
The Justice Department is under scrutiny for heavily redacting the initial batches of files related to convicted sex offender Jeffrey Epstein. CBS News justice correspondent Scott MacFarlane has the details.
British man charged with repeatedly drugging and raping his now ex-wife
Philip Young was charged with 56 sexual offences, including multiple counts of rape and administering a substance with the intent to "stupefy" Joanne Young, his ex-wife.
Former classmate on Brown shooting suspect
More details are emerging about Claudio Manuel Neves Valente, the man suspected of carrying out a deadly shooting at Brown University before allegedly targeting an MIT professor. CBS News Boston has more.
Space
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Space
NASA's search for next lunar rover
NASA astronauts took their first drive on the moon 54 years ago. Now, three companies are competing for a NASA contract to build a new lunar rover for use starting with the Artemis 5 mission in 2030. Kris Van Cleave reports.
Artemis 2 astronauts rehearse countdown for upcoming moon launch
NASA is gearing up to send four Artemis astronauts on looping test flight around the moon in 2026.
Woman is first wheelchair user launched into space
A German aerospace engineer made history Saturday, becoming the first wheelchair user to go into space when she took a 10-minute trip aboard a Blue Origin rocket.
Blue Origin safely launches wheelchair user to space and back
German engineer Michaela Benthaus is the first person with a significant physical handicap to reach space.
Jared Isaacman, billionaire who's flown with SpaceX, confirmed to lead NASA
President Trump withdrew Isaacman's nomination for NASA administrator in April, before nominating him again in November.
Latest Galleries
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Notable Deaths in 2025
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Evidence in the Barbara Kendhammer case
Does the evidence show a cover-up, or was Todd Kendhammer wrongfully convicted for the murder of his wife?
The life & near death of prizefighter Christy Salters-Martin
Christy Salters-Martin dominated in the boxing ring but faced her toughest challenger at home.
Timeline: The disappearance of George Smith
Family seeks answers in death of newlywed who disappeared in 2005 while on Mediterranean honeymoon cruise.
Who is Alix Tichelman?
Meet the tattooed beauty charged in the death of Google executive Forrest Hayes.
Latest CBS News Videos
More Latest CBS News Videos
Latest CBS News Videos
Plane lands with first use of Autoland system
For the first time, an automatic landing system called Autoland was used to land a plane in Colorado after pilots reported losing cabin pressure mid-flight. The safety system activated itself and took control of the aircraft to land it. Kris Van Cleave has more.
Instacart ending AI price tests for retailers
Instacart says its ending its controversial system of using AI price tests for retailers. Earlier this month, an investigation by Consumer Reports and progressive think tank Groundwork Collaborative found that Instacart's algorithmic pricing charged various prices for the same item from the same store. Jo Ling Kent reports.
DOJ releases more Epstein files
The Department of Justice has released another batch of files related to convicted sex offender Jeffrey Epstein. CBS News' Scott MacFarlane reports.
Aubrey O'Day on Sean "Diddy" Combs
Singer Aubrey O'Day spoke exclusively to CBS News following the release of Netflix's documentary series, "Sean Combs: The Reckoning." In the documentary O'Day reveals that she learned about an affidavit from an unidentified witness who claims to have seen Combs and another man sexually assault her. Combs denies the allegations in the Netflix documentary and says he has never assaulted anyone.
Judge ruling on Venezuelans sent to CECOT
A federal judge ruled on Monday that a group of Venezuelan men deported to the infamous CECOT prison in El Salvador back in March were denied due process and the U.S. government should help facilitate their return or some kind of remote hearing. The administration can still appeal. Vlad Duthiers reports.