NY Fed: Worker's Discontent is Growing

According to a New York Fed study, only 56.7% of respondents were satisfied with their wages in July 2024, a decline from 59.9% in July 2023. Similarly, satisfaction with benefits dropped to 56.3%, down from 64.9%.

Career advancement contentment also fell to 44.2% compared to 53.5% the previous year. Meanwhile, 4.4% feared job loss, up from 3.9% last year.

Women, non-college graduates, and those earning under $60,000, reported the most discontent. More workers plan to change jobs, rising from 10.6% in July 2023 to 11.6% in January 2024.

The minimum salary workers seek for new jobs, stood at $81,147, an increase from $78,645 in 2023. Meanwhile, expected salary offers decreased to $65,272.

Source: Read More

7-Eleven To be Acquired?

7-Eleven’s parent company, Seven & i Holdings, received a buyout proposal from Canadian retailer Alimentation Couche-Tard (ACT).

ACT operates about 14,000 stores and has a market valuation of $58.5 billion. In contrast, Seven & i runs over 85,000 stores, valued at approximately $31 billion.

Seven & i generates 74% of its revenue from North America, even though their headquarters are in Japan.

The specifics of Couche-Tard’s offer remain undisclosed. Following the announcement, Seven & i shares surged by 23%.

Source: Read More

Was Your SSN Compromised?

A data breach at National Public Data exposed nearly 3 billion records, including Social Security numbers.

The breach started last year, with potential leaks confirmed in April and summer of 2024. Data from at least three decades is involved.

To see if your Social Security number was part of this breach, visit npd.pentester.com. Enter your first and last name along with your birth year. You can view breached accounts and the last four digits of any compromised Social Security numbers.

Consider setting up credit monitoring. Also, contact one of the three credit reporting agencies—Equifax, Experian, or TransUnion—to place a fraud alert. And consider a credit freeze.

Source: Read More

A Tale of Overtourism

Sintra, Portugal, faces a surge in tourism, attracting over 3 million visitors annually. About 5,000 tourists visit daily.

This phenomenon, dubbed “overtourism,” raises concerns about infrastructure and housing. Housing prices soar due to short-term rentals, pushing locals out. Hospitality workers even live in tents.

The World Travel & Tourism Council predicts a 24% growth in Portugal’s tourism sector.

Residents assert, “We’re not against tourists; we’re against the pandemonium.”

Source: Read More