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Wednesday, October 5, 2022

The Daily Money: Job quitters may need to hurry as open jobs decline.

Workers are still quitting their jobs, but the number of open positions is falling, signaling that workers' ability to move around may be dwindling. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
usatoday.com

The Daily Money
 
Wednesday, October 5

Happy Hump Day. It's Charisse Jones with your Daily Money headlines for this lovely Wednesday. 

It looks like Elon Musk's off-and-on plans to buy Twitter are back on. 

According to a letter from his lawyers filed with the Securities and Exchange Commission, the billionaire will go forward with plans to buy the messaging platform for $44 billion. Twitter said Musk wrote saying he was willing to complete the deal and pay $54.20 a share, his original offer. The company says it intends to sell for that amount but stopped short of saying it would drop its lawsuit against the billionaire Tesla CEO.

Musk previously wanted to back out of the agreement because he said Twitter misrepresented how it counts the impact of "spam bot'' accounts, but Twitter wanted the deal to move forward. A trial was scheduled to begin on Oct. 17.

Ready to quit? You'd better hurry

Workers are still quitting their jobs, but the number of open positions is falling, signaling that the ability to job hop may be dwindling.

Job openings dipped to 10.1 million at the end of August from 11.2 million the previous month, according to the Bureau of Labor Statistics. Meanwhile, the number of people leaving their jobs remained roughly the same at 4.2 million.  

There were still 1.67 open jobs for each person who was unemployed in August, but that was lower than the 1.9 open positions the previous month. So, Americans who want to quit one job and move into another better hurry, some economists say.

📰 More stories you shouldn't miss 📰

"Rent a Bank Loans'' are raising alarms. Millions of low-income Americans are being targeted for unsecured loans with triple digit interest rates, a trend that is worrying consumer watchdogs.

The Fed's raising interest rates to lower prices, but will it work? Food may remain expensive, but pricier purchases like furniture, cars and homes may become more affordable.

Zelle is ripe target for scams. Scams and fraud are becoming more common on the bank-backed payment service Zelle, according to a report from the office of Sen. Elizabeth Warren. And it's proving difficult for those who are victims to get their money back.

About The Daily Money

Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TL;DR version: how decisions by the Federal Reserve, government and companies impact you.

Follow Charisse Jones on Twitter: @charissejones.

Tesla and SpaceX Chief Executive Officer Elon Musk at the SATELLITE Conference and Exhibition in Washington on March 9, 2020.
Musk Twitter deal reportedly set to go through at $54.20 a share
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Google logo
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Traders work on the New York Stock Exchange floor
 

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