A roundup of the week's most newsworthy financial industry press releases from PR Newswire, including the best states to recover from a recession and a retirement outlook for Gen X.
NEW YORK, July 14, 2023 /PRNewswire/ -- With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help journalists covering the finance industry stay on top of the week's most newsworthy and popular releases, here's a roundup of stories from the week that shouldn't be missed.
The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.
- Deloitte: Back-to-School Spending Expected to Decline as Inflation Takes its Toll
The overall back-to-school market is expected to decrease to $31.2 billion; spending on clothing is down 14% year-over-year, and technology is down 13% in favor of school supplies (up 20% year-over-year). - Northwestern Mutual Study Finds Americans Who Carry Personal Debt Owe an Average of $21,800 Exclusive of Mortgages
The overall average is $8,000 lower than it was in 2019, but 35% of Americans say they're carrying close to or at their highest level of debt ever while 43% say their debt is close to or at a historic low. - John Hancock Announces 2023 MLK Scholars Program, Invests Another $1 Million in Summer Jobs, Financial Education for Boston Youth
"Helping to develop this talent pipeline in Boston is critical to leveling the playing field for young people who do not have equal access to the work experiences and networks that are key to building long-term skills, self-confidence, and financial empowerment," said Brooks Tingle, CEO of John Hancock. - Chilling Resilience: NationalBusinessCapital's Report Uncovers the Best States to Recover from a Recession in 2023
From their balanced cost of living and robust job opportunities to prudent budgeting and effective safety nets, these states not only survived - but thrived - in the face of adversity. - Black Knight: Housing Market Reignites as Home Prices Hit New Record High in May; Inventory, Affordability Continue to Plague Potential Buyers
As the nation approaches the traditional end of the spring homebuying season, there are distinct signs of market reheating – almost universally in markets across the United States. - Summer Jobs Connect to Provide Financial Education and Banking Access in Summer Youth Employment Programs to 180,000 Young People in 25 Cities
"Over the past decade, Summer Job Connect has been such a popular, and powerful, program because the idea is both simple and meaningful -- connecting teenagers and young adults to safe and affordable bank and credit union accounts just when they can use them, as they start a summer job," said Jonathan Mintz, President and Chief Executive Officer, Cities for Financial Empowerment Fund. - Home values reach new peak as owners hang on to houses
The typical U.S. home value climbed 1.4% from May to June, continuing a four-month hot streak. The new peak of $350,213 is almost 1% higher than last June and barely edges out the previous Zillow Home Value Index record set in July 2022. - Unsure How to Pay for College? You're Not Alone - New Study from College Ave Finds Less Than Half of Families Feel Ready the Summer Before College
If your family is spending the summer discussing how to cover college costs, you're not alone – a recent College Ave Student Loans survey of 1,001 parents of current college students conducted by Barnes & Noble Insights™ found less than half (44%) felt ready to pay those costs the summer before their child's freshman year. - Housing Affordability Trust Empowers Local Nonprofits with $3.7 Million in Funding
HAT is committed to addressing the needs of families in need by supporting local organizations that provide housing and essential services. Since 2017, HAT has disbursed over $26 million in grants to nonprofits, initiatives, and charitable endeavors focused on housing. - New Report Finds Alarming Retirement Outlook for Generation X
A new report from the National Institute on Retirement Security (NIRS) finds a dismal retirement outlook for Generation X, the first generation to enter the labor market following the shift from defined benefit pension plans to 401(k)-style defined contribution accounts. - ACAMS Launches Broad Initiative to Strengthen Law Enforcement Investigations and Prosecutions with Financial Intelligence
The ACAMS Law Enforcement Ecosystem draws on the expertise of seasoned investigators and prosecutors to offer an extensive training curriculum on leveraging anti-money laundering (AML) data to identify evidence of illicit activity, an intensive bootcamp program designed for officials seeking to become Certified Anti-Money Laundering Specialists (CAMS), and a new online resource hub to keep agents apprised of current financial-crime analysis and emerging threats. - Goal Solutions is Revolutionizing Transparency and Risk Management in Structured Finance
In response to the prevailing challenges faced by investors in the structured finance industry, Goal Solutions has unveiled an innovative solution, the Lucidity reporting and analytics portal. This advanced portal aims to address the long-standing problem of limited visibility and inadequate trend analysis in securitizations and warehouses, enabling investors to make more informed decisions and mitigate risks effectively. - Cerity Partners Welcomes Lumina Financial Consultants
Cerity Partners announced today it is merging with Lumina Financial Consultants, a wealth management and financial planning firm that focuses on serving the needs of women, their families and their businesses, with presences in the San Francisco Bay and Richmond, Virginia, metro areas.
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