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Monday, February 5, 2024

Parents pay grown-up children's bills

Pew Research has a new study. ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌  ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ 

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The Daily Money

ALL THE MONEY NEWS YOU NEED TO KNOW

Mon Feb 5 2024

 

Daniel de Visé Personal Finance Reporter

Good morning! It's Daniel de Visé with your Daily Money.

Three-fifths of parents with adult children gave them financial help in the past year, Pew Research reports in a new study.

The finding illustrates -- in case we needed a reminder -- that modern parenting does not end when a child turns 18. But supporting an adult child can get costly, financial planners say. And parents need to make sure their own financial needs are met. Read the story .

Ap Unemployment Benefits F Usa Pa

A help wanted sign in Lansdale, Pa.

Matt Rourke, AP

The job market is brisk. Why aren't Americans feeling it?

Friday's blockbuster jobs report, which showed employers adding a stunning 353,000 jobs last month, again pointed up a nagging question: If the economy and labor market are so strong, why aren't more Americans feeling it?

To be fair, Paul Davidson reports, people are feeling better than they have in the past couple of years. Consumer sentiment in January jumped to the highest level since mid-2021, thanks to easing inflation and rising incomes, according to a University of Michigan index that was also released Friday.

But the closely watched gauge is still well below its pre-pandemic level. Read Paul's story.

📰 More stories you shouldn't miss 📰

Cracking down on election deepfakes
A spotlight on black-owned businesses
R. Kelly's former mansion up for sale
A rundown of the best used hybrids

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 TLDR version: how decisions by the Federal Reserve, government and companies impact you.

Daniel de Visé covers personal finance for USA Today.

Blueprint surveyed parents of Gen Z and Millennial adults in states with populations of 2 million or more to find out where adult children are getting the most financial support from their parents.

Three-fifths of parents with adult children gave them financial help in the past year, for better or worse.

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There have been a round of layoffs across multiple sectors at major companies in 2024.
 

With job growth surging, why aren't Americans in a better mood?

The economy added a blockbuster 353,000 jobs in January. But consumers are feeling just so-so.

President Joe Biden speaks at South Carolina's First in the Nation dinner at the South Carolina State Fairgrounds in Columbia, S.C., Saturday, Jan. 27, 2024.
 

Facebook urged to crack down on election deepfakes

A doctored Biden video was a test case for Facebook's deepfake policies. The Oversight Board is calling for changes to prevent election tampering.

Victoria Benning, left, and Azeeza Reed, center, both of Erie, shop for fashion items from Alexandria Ellis, right, owner of She Vintage during the Celebrating Black Business Block Sale on June 19, 2020 at the corner of West Eighth and Chestnut streets in Erie.
 

Here's how Black-owned businesses have grown in the US

An estimated 161,031 Black or African American-owned businesses were in operation in 2022, an increase from 2020.

A Tesla level three Electric vehicle charger is seen, Friday, Feb. 2, 2024, in Kennesaw, Ga., near Atlanta. (AP Photo/Mike Stewart) ORG XMIT: NYOTK
 

Tesla, Toyota, PACCAR among 2 million vehicles recalled: Check here

The NHTSA recently announced recalls for over 2 million vehicles which include Tesla, Toyota, and PACCAR.

Security gates at 1 Maros Lane, Olympia Fields, Illinois, listed by Alex Wolking of Keller Williams ONEChicago. The home was once owned R. Kelly and renovated by its most recent owner, Rudolph Isley.
 

R. Kelly's former mansion up for sale near Chicago. Listed for $3.5m

The 1 Maros Lane mansion near Chicago went on the market for $3.5 million. It was owned by R. Kelly until 2011. Rudolph Isley bought it in 2013.

Funko is issuing a limited-edition Funko Pop! figurine of Philadelphia Eagles center Jason Kelce celebrating a touchdown by brother Travis during the playoffs at Buffalo.
 

Shirtless Jason Kelce immortalized in toy figurine: How to get one

When Eagles center Jason Kelce took his shirt off to celebrate a touchdown by brother Travis Kelce, it was a moment. Now it's a toy.

Business woman with hands on her face looking exhausted
 

The latest TikTok trend is filming yourself getting laid off. Why it matters

People are filming themselves getting laid off and going viral for it online. It says a lot about workplace trauma and how we cope with uncertainty.

McDonald's Shamrock Shake and Oreo Shamrock McFlurry return Feb. 21.
 

Popular Shamrock Shake at McDonald's is set to return to menus today

McDonald's will bring back its Shamrock Shake on Monday, Feb. 5, weeks earlier than it returned in 2022. Also returning: the Oreo Shamrock McFlurry.

The Bissell Multi-Reach Hand and Floor Vacuum Cleaner with a floor attachment was the other vacuum recalled by the U.S. Consumer Product Safety Commission recalled Thursday for posing a potential "fire hazard."
 

Lithium-ion batteries inside Bissell vacuum trigger mass recall

About 142,000 Bissell Multi Reach Hand and Floor Vacuum Cleaners were recalled for a potential fire hazard. Affected consumers should contact Bissell.

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