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America's job market got back on its feet in October.The U.S. economy rebounded from the hurricanes and added 261,000 jobs, the best performance of the Trump administration.Unemployment inched down to 4.1%, the lowest since December 2000.But wages took a step back. They grew only 2.4% in October compared with a year earlier, behind September's number. The absence of better wage growth and inflation is one of the biggest mysteries in the economy.WATCH: How hourly wages fared in the October jobs report 513
Americans are calling out practices at some car lots more now than ever before.“We found a pattern of abusive and deceptive practices that the auto loan industry has been employing and unfortunately these complaints have sharply increased during the pandemic,” said Lucy Baker, Consumer Program Associate at U.S. Public Interest Research Group (PIRG).Looking at the Consumer Financial Protection Bureau's consumer complaint database, the U.S. PIRG found between March and July, there were more than 2,800 auto loan and lease complaints. That's more than any other 5-month period.This includes complaints like not getting auto loan relief, which the CARES Act didn't specify, but some lenders offered to work with customers. Also, complaints about broken payment systems that led to late fees, and issues with loan terms changing or yo-yo financing.“You go into a dealership, you buy a car you sign on the dotted line, but as your driving away, you get a phone call from your dealer that says, ‘hey the financing has fallen through, I’m going to take your car back unless you agree to pay more or pay a higher interest rate,’” said Baker.There were complaints about harassment over repossession and debt, as well as expensive add-ons like warranties, insurance, and service plans.High pressure tactics were another problem.“If you put somebody in a room for a long period of time, they're going to be so frustrated that they are going to want to get out of there and then you can pressure them into buying these things they don’t need,” said Baker.U.S. PIRG is pushing policymakers for auto loan relief programs, banning repossession, debt collection and negative credit reporting.It also has some recommendations for customers: Don't roll an old auto loan into a new loan, avoid buy here – pay here lots, and don’t get focused on low monthly payments. Instead, compare the total cost of the loan including interest paid.Officials also suggest filing complaints with the Consumer Financial Protection Bureau. It creates pressure on lenders to make things right. 2068
An Indonesian passenger plane carrying 189 people, including one child and two infants, crashed into the sea close to the capital Jakarta, 13 minutes after takeoff.The Lion Air flight JT 610 disappeared from radar during a short flight from Jakarta to Pangkal Pinang on the Indonesian island of Bangka on Monday morning, according to Indonesia's National Search and Rescue Agency (SAR). It was carrying 181 passengers, as well as six crew members and two pilots.The flight made a request to air traffic control to return to base about 12 miles out from takeoff, but did not indicate there was any emergency, Yohanes Sirait, spokesman for AirNav Indonesia, the agency that oversees air traffic navigation, told CNN.The spokesman added that the aircraft would have been given priority landing upon such request, but that air traffic controllers lost contact with the plane shortly after. The plane had not turned back, according to the radar. 948
An email sent by a student to the principal and all of the freshmen at Oconomowoc High School prompted a police investigation into possible safety concerns.The email accused a different student of being a threat and mentioned the fictional character Slender Man.Police immediately investigated some of the claims in that email and the district says it determined there is no threat to student safety.The email sent on Wednesday includes many personal details about the student and says the person "...believes she has multiple personalities...is the daughter of slenderman."Slender Man became well-known in 2014, when two girls from Waukesha, Wisconsin — located about a half hour from Oconomowoc — said they stabbed their classmate 19 times to please the character.They both were recently committed to mental health facilities.In addition to mentioning Slender Man, the Oconomowoc student also claimed that this other student "wanted me to join her and two other girls in a cult-like group called the 'Trinity Sisters.'""I didn't find them to be true," said Alexis Zimmerman, a junior at the school.She says she and many other students weren't concerned about what the email said but were more upset that it even went out."I don't think anyone found it as a threat," she said. "It was just, it wasn't something right to say about someone else."Alexis' mother Nicole Gronitz says the school notified parents about the email, but she too wasn't concerned."It really didn't make me think twice about it," she said. "A lot of the stuff has just been kind of fake lately."District officials would not comment on any disciplinary issues. The full statement from the district is below: 1707
Are you owed money you don’t even know about? You might be, if your name is in an unclaimed property database. Each year, billions of dollars from forgotten security deposits, refunds, uncashed paychecks and even old bank accounts are reported to state agencies. And each year, according to the National Association of Unclaimed Property Administrators, an organization affiliated with state treasury departments, states return more than billion to their rightful owners.Just ask Maria Barlow, an attorney in Chicago. A few months ago, she was sitting at home when she decided to plug her name into the Illinois unclaimed property website. “I was surprised to see there was an entry,” she says. Fast forward a few weeks, and she had a check in hand for .80.If you are wondering if you have unclaimed property, here’s how to find out.Search online at state agenciesThe National Association of Unclaimed Property Administrators’ website, Unclaimed.org, links to agencies in all 50 states, the District of Columbia and other territories. With these sites, you can search unclaimed property databases for free. The organization also sponsors MissingMoney.com, which lets users search multiple states at once, though not every state participates.To pull up the property database, you will likely be asked to enter a last name. You could also enter a first name, city or ZIP code to help narrow the search. From there, you may find entries detailing the owner’s last known address, property amount and the company that initially held the funds. Depending on the database, the state may provide the exact amount of the property, or give a range, such as “under ” or “ or more.”Barlow says her entry was from an old internet provider. The company owed her a refund because she moved and switched off service before her billing period ended. But it didn’t have the correct forwarding address, so it sent the money to the state. Barlow says she filed a claim online, and it was processed within two weeks. “Even in the pandemic, it didn’t take long to receive it,” she says.Finding a small amount can still give you breathing room in your monthly budget or help pad your emergency fund. (Read more about emergency funds and why they’re important.)Prove you are the rightful ownerFiling a claim may involve scanning and uploading identification, such as your driver’s license, and other documentation that you live (or lived) at the address on file. For example, you might be asked to upload a recent utility bill. For certain types of claims, such as those for money orders, you may need to mail documentation instead of uploading. (You can read more about money orders here.)Heirs can follow a similar process for claiming property if the owner is deceased. Lorrie Walker, a financial advisor in Lakeland, Florida, advised a client earlier this year whose late husband had funds in old bank accounts. She says her client provided additional paperwork, including her husband’s death certificate, to claim the property.Later, Walker checked the state treasury website for unclaimed property of her own. “Sure enough, there was money for a security deposit in an apartment I lived in 20 years ago,” Walker says. She filed a claim online and, a few weeks later, received a check for 5.If the property is tied to an old address, don’t be discouraged. In Barlow’s claim, she explained that she no longer had documentation, and she still received her money, she says.It is OK to be nosyData within unclaimed property databases is publicly available, so you can search on behalf of others. You can then alert them if they have lost funds, but it’s their responsibility to claim the funds and prove ownership.Barlow says she entered the names of about 15 family and friends and found unclaimed funds for many. She says that since she alerted them to the cash, many were able to collect. “I may be nosy, but I found them money,” she says.Pro tip: Make the most of your moneyIf you do find and receive funds, you can make this “found” money work for you by putting it in an account with a high interest rate. These accounts may earn 10 times more than the national average, so you can take the unexpected funds and grow them even more.The smaller amounts may not make you rich, but they can still be worth searching for, Walker says. “At the end of the day, it is your money. So it’s better for you to have it than the state.”More From NerdWalletHow to Get Started If You’ve Never Had a Bank AccountSmartMoney Podcast: Setting Money Goals at Milestone Birthdays, and Bagging Big Bucks with Bank Bonuses6 Do’s and Don’ts When Saving Money During a CrisisMargarette Burnette is a writer at NerdWallet. Email: mburnette@nerdwallet.com. Twitter: @Margarette. 4757