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It's called "refund shock," and many taxpayers can expect to see it when they file their 2022 tax returns, and there may not be a lot most of us can do about it.Thanks to pandemic relief measures passed by Congress in the last year of the Trump administration, and especially during the first year of the Biden administration, many Americans got very big tax refunds earlier this year. But don't count on a repeat."We call it refund shock or refund whiplash, and really it has to do with a lot of the tax benefits put in place last year as...
The November jobs report showed the U.S. economy added 263,000 jobs as the Federal Reserve considers its next interest rate hike. CBS News business analyst Jill Schlesinger joined Errol Barnett and Elaine Quijano with more on the direction of the labor market.
Washington — President Biden on Friday morning signed a measure that will impose a labor agreement for rail workers that his administration brokered in September, averting a nationwide disruption of rail service ahead of the holiday season. "The bill I'm about to sign ends a difficult rail dispute and...
The U.S. added more than 260,000 jobs in November despite the Federal Reserve's efforts to cool off the economy by raising interest rates. J.D. Durkin, host of "TheStreet," joins CBS News from the floor of the New York Stock Exchange to discuss investors' reaction to the new report.
Markets were mixed on Friday after a surprisingly strong jobs report renewed worries about inflation and more rate hikes from the Federal Reserve. The S&P 500 ended down 0.1% and the Nasdaq lost 0.2% after being down even more earlier in the day. The Dow ended slightly higher, closing up by 0.1%, at 34,429.