The U.S. Labor Department said Friday that the unemployment rate hit XX in February—but does that rate tell the real story?» Read More
Bank CEOs had a very good year in 2013—millions and millions of dollars worth of good.
Compensation for top executives at the big banks rose substantially last year, according to the most recently released data.
Think New York City is the most burdensome place to live in America? Or maybe Los Angeles?
Forget it, not even close.
The office of the chief financial officer of the District of Columbia produces an annual report looking at combined tax burdens (income, property, sales and auto) at five different household income levels for a family of three in the largest city in each state.
Fewer shoppers are feeling the love this Valentine's Day.
Following holiday season woes that the retail industry has failed to shake in the new year, the National Retail Federation said it expects Valentine's Day spending to reach $17.3 billion in 2014. That's a decline of about 7 percent from last year's tab of $18.6 billion.
(Read more: High-tech Valentine's Day gifts for your sweetheart)
"Consumers can expect Cupid's holiday to resemble the promotional holiday season we saw just a few months ago, as retailers recognize that their customers are still looking for the biggest bang for their buck," said federation President Matthew Shay.
The winter of 2013-2014 was already bad enough before Thursday's storm threatened another foot of snow for much of the East Coast.
And it's not just you and your aching back: The maps prove there's a lot more snow in a lot more places this year than last.
Another massive winter storm is bearing down on the southeastern and eastern United States, making an already bad season that much worse.
Airlines and passengers have already lost billions of dollars on flight cancellations, while cities and towns have used up their salt and blown their overtime budgets.
And that doesn't even count the damage ice and snow have done to homes and cars.
The U.S. Labor Department said Friday that the unemployment rate fell to 6.6 percent in January—but does that rate tell the real story?
A number of economists look past the "main" unemployment rate to a different figure the Bureau of Labor Statistics calls "U-6," which it defines as "total unemployed, plus all marginally attached workers plus total employed part time for economic reasons, as a percent of all civilian labor force plus all marginally attached workers."
In other words, the unemployed, the underemployed and the discouraged — a rate that still remains high.
It stands to reason that the people who want to purchase a high-end fur coat right off the runway are often the same ones who are gambling on the stock market.
As such, there has long been a correlation between the sentiment of affluent consumers—who may covet the brands on display during New York Fashion Week—and stock market performance.
Unity Marketing, a firm that specializes in providing business insights into the luxury consumer, conducts a quarterly survey among the top 20 percent of U.S. households based on income, which typically starts at about $100,000. To participate, the households must have purchased a luxury good or service in the past three months.
(Read more: Michael Kors rally won't set a retail trend)
The survey asks these affluent consumers a series of questions—including how they feel about their financial status now and in the future, and how they feel about the direction of the country. A statistician then compiles the responses to pull together a figure representative of the group's confidence, which is known as the Luxury Consumption Index (LCI).
A score of 100 is the baseline from when the survey began in 2004.