Financial related news.
Ohio is near the middle among states for the concentration of rich households. The state ranked 33rd with 243,118 households out of nearly 4.7 million households that have investable assets of $1 million or more, or a concentration of nearly 5.2 percent, according to a report from Kiplinger magazine. “NBA superstar LeBron James might have [...]
The National Association of the Remodeling Industry of Central Ohio provided recommendations earlier this year on how to make one’s remodeling budget go far. “Preparing for a remodeling project is a lot like preparing to buy a car," said Shari Bates, executive director of NARI of Central Ohio, in a statement. "You may know which [...]
Manufacturing, health care, smart infrastructure and data analytics are four platforms in which Ohio should further invest to address the needs of its innovation ecosystem and accelerate the economy, according to a recently released plan from the Ohio Chamber of Commerce Research Foundation Inc. The policy research firm released the “Ohio Bold: A Blueprint for [...]
WASHINGTON — Three officials who played vital roles in combating the 2008 financial crisis say they worry that the painful lessons from the banking system’s near-collapse a decade ago may be forgotten. “It is important that people focus on the lessons,” said former Treasury Secretary Henry Paulson. “We are not sure people remember everything they [...]
A researcher from The Ohio State University found that people say they spend more than they actually do. “People said they’d spend about twice as much, on average, as they actually spent when faced with more realistic circumstances,” said Wuyang Hu, a co-lead researcher of the study, in a statement. “Unfortunately, in many circumstances, it’s [...]
An Ohio construction trade association announced recently that nearly 900 veterans started careers through a veterans apprenticeship program in 2018. The Affiliated Construction Trades, or ACT Ohio, cited data compiled by ApprenticeOhio that 866 veterans enrolled in the association’s military apprenticeship program already this year. Hard work, accountability and collaboration are hallmarks of a veterans’ [...]
The Columbus metropolitan area’s jobless rate reached historic lows in March, according to data from the Federal Reserve Bank of Cleveland. The region’s jobless rate dropped to 3.3 percent that month, the lowest since the economic boom of the late 1990s and early 2000s. “The metro area’s unemployment rate fell in the first quarter for [...]
WASHINGTON (AP) — The Federal Reserve says that all of the 35 largest U.S. banks are fortified enough to survive an economic shock and keep on lending. Banks’ hypothetical losses from credit cards increased in the latest “stress tests,” however. The first round of the central bank’s annual stress tests, released Thursday, shows that as [...]
If someone is tight on money, they’re more likely to keep their purchases to themselves, according to a new study from The Ohio State University. Researchers found that consumers who were tight on money did not want to talk about their purchases, regardless of size, with anyone in anyway. “It wasn’t about what other people [...]
When your body is out of shape, there’s likelihood that your finances are too. A strong link has been established between poor financial status and high body mass index for both men and women, according to a study from the Association for Financial Counseling and Planning Education. “When individuals consciously choose healthier options in their [...]