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Kohl’s is closing 27 stores in 15 states, including Arapahoe Crossing location in Aurora
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Fox Business, National

Kohl’s is closing 27 stores in 15 states, including Arapahoe Crossing location in Aurora

By Aislinn Murphy  | Fox Business Twenty-seven "underperforming" Kohl’s stores are set to shutter this spring. The locations, named late last week by Kohl’s, will permanently close their doors by April, according to the Wisconsin-based retailer. "While Kohl’s continues to believe in the health and strength of its profitable store base, these specific locations were underperforming stores," Kohl’s said.  READ THE FULL STORY AT FOX BUSINESS
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How much do ‘low-income’ workers make in Denver?
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kdvr.com, Local

How much do ‘low-income’ workers make in Denver?

By Heather Willard | KDVR-TV Fox 31 News If you are hoping to make it out of the “low-income” bracket in 2025, you’ll have to make over $35 per hour. That’s according to the calculations by the U.S. Department of Housing and Urban Development. HUD calculates home income limits to determine if applicants are eligible for subsidized housing. The numbers are calculated across the U.S. for each county and metro area. Anyone earning under 80% of the area’s median income is considered “low income” by HUD, while also taking into consideration the household size. According to the U.S. Census Bureau, Denver County’s median household income (in 2023 dollars) is $91,681 annually. That’s slightly lower than the state’s median income of $92,470. READ THE FULL STORY AT KDVR-TV FOX 31 NE...
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Denver home prices are falling, but does that mean buying a house is affordable?
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Local, Westword

Denver home prices are falling, but does that mean buying a house is affordable?

By Catie Cheshire | Westword Denver had the seventh-highest drop in home prices in 2024, according to Realtor.com. But that doesn’t necessarily mean buying a home in Denver is affordable. Though the median list price of a home in Denver was down 5.35 percent in December 2024 compared to December 2023, the median list price is still $577,350. Still, real estate experts are taking the news of the drop as another sign that markets are leveling out from pandemic-induced, skyrocketing prices. “Austin, Denver, Phoenix and Nashville were the darling markets of 2021 and 2022 and places where prices went wild,” says Joel Berner, Realtor.com senior economist. “Now, with more homes on the market, prices are returning to where they belong.” READ THE FULL STORY AT WESTWORD...
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Private sector adds 122,000 jobs in December, below expectations, ADP says
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Fox Business, National

Private sector adds 122,000 jobs in December, below expectations, ADP says

By Matthew Kazin  | Fox Business Companies in the private sector added 122,000 jobs in December, payroll processing firm ADP said on Wednesday. The figure is below economists’ estimates of 140,000 jobs and lower than the prior month’s reading of 146,000. "The labor market downshifted to a more modest pace of growth in the final month of 2024, with a slowdown in both hiring and pay gains," said Nela Richardson, ADP's chief economist. "Health care stood out in the second half of the year, creating more jobs than any other sector." READ THE FULL STORY AT FOX BUSINESS
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Higher minimum wage in Boulder, Colorado puts strain on local restaurants
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CBS Colorado, Local

Higher minimum wage in Boulder, Colorado puts strain on local restaurants

By Sarah Horbacewicz | CBS Colorado In November, Boulder voters approved the increase of minimum wage in the city from $14.42 to $15.57 per hour, which went into effect on Jan. 1. As the new year begins, Peter Waters, the T/aco restaurant owner, is taking a close look at his budget. "We have about 50,000 labor hours a year, so $1.10 increase, you can do the math, is a quick $55,000 that we need to figure out how to adjust for in the coming year," Waters said. One of those adjustments will show up on menu prices which is T/aco's first raise since the COVID-10 pandemic. "In addition to price increases, we are going to have to start adjusting labor hours and asking more of our staff," Waters said. READ THE FULL STORY AT CBS COLORADO
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Mortgage rates rise for second straight week, highest since July
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Fox Business, National

Mortgage rates rise for second straight week, highest since July

By Matthew Kazin  | Fox Business Mortgage rates spiked this week to the highest level in five months, ending the year slightly higher than where they started. Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage jumped to 6.85%, up from last week's reading of 6.72%. The average rate on a 30-year loan was 6.61% a year ago. This week's increase marked the highest level on the 30-year loan since mid-July, when the rate was 6.89%, according to Freddie Mac data. The lowest rate this year was 6.08% at the end of September, while the highest — 7.22% — was reached at the beginning of May. READ THE FULL STORY AT FOX BUSINESS
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Elon Musk shoots down ‘wrong-headed economic thinking,’ says there’s ‘infinite potential’ for job creation
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Fox Business, National

Elon Musk shoots down ‘wrong-headed economic thinking,’ says there’s ‘infinite potential’ for job creation

ByAlex Nitzberg | Fox Business Billionaire business tycoon Elon Musk shot down a scarcity mindset and suggested that there is basically unlimited potential for creating jobs and businesses. "The ‘fixed pie’ fallacy is at the heart of much wrong-headed economic thinking. There is essentially infinite potential for job and company creation. Think of all the things that didn’t exist 20 or 30 years ago!" Musk declared in a post on X. Musk's comment was in response to a post from entrepreneur Joe Lonsdale who had mentioned Sriram Krishnan — who President-elect Trump recently tapped for a role in his upcoming administration. Last month, Krishnan advocated for lifting a cap on green cards when replying to a post of Musk's regarding the Department of Government Efficiency (...
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Home goods chain store files for bankruptcy and sparks fears of mass closures
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Daily Mail, National

Home goods chain store files for bankruptcy and sparks fears of mass closures

By Tilly Armstrong | Daily Mail The struggling home goods chain, The Container Store, which has been around for 46 years, filed for Chapter 11 protection in Texas late on Sunday.  The store is known for its home organizational goods, including closet organizers and storage bins. Despite receiving a boost from Marie Kondo's hit Netflix show 'Tidying Up' during the Covid-19 pandemic, the chain has been weighed down by mounting losses in recent years.  The company had $229.8 million in long-term debt as of the quarter ended September 28. CEO Satish Malhotra, a former Sephora executive who took over the top spot at the chain in 2021, said he is confident The Container Store is 'here to stay' despite the filing, Yahoo! Finance reported. READ...
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Fed cuts interest rates by quarter point despite firmer inflation
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National, THE HILL

Fed cuts interest rates by quarter point despite firmer inflation

By Tobias Burns | The Hill The Federal Reserve cut interest rates by a quarter of a percentage point Wednesday, in line with market expectations, even as inflation has reaccelerated over the past two months. Fed officials have been trying to find the right tempo for rate cuts since starting them in September with a sizable half-point reduction, and Wednesday’s cut — the third in a row — shows them pressing ahead with their strategy despite some underlying strength in labor and price data. The Fed is now projecting two cuts for next year as opposed to four.  READ THE FULL STORY AT THE HILL
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Congress sneaks pay raise for itself into spending bill as Americans struggle to make ends meet
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National, The Daily Caller

Congress sneaks pay raise for itself into spending bill as Americans struggle to make ends meet

by Adam Pack | Daily Caller Members of Congress are slated to receive a pay raise for the first time in 15 years if the massive spending bill released by House leaders Tuesday evening passes both chambers and is signed into law. The 1,574 page bill, known as a continuing resolution (CR), contains language allowing for a cost of living adjustment (COLA), which would give members of Congress a pay raise for the first time since 2009. This pay increase for Congress comes as many lawmakers’ constituents are struggling to make ends meet as inflation has skyrocketed under President Joe Biden’s administration. Lawmakers currently earn a base salary of $174,000 annually with members in leadership receiving a higher salary. If Biden signs the CR into law, members of Congress are set to rec...
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