Unemployment Inches Up, Inflation Returns, & Serious News for Student Loans

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Has the job market finally flipped? Throughout most of the pandemic, it seemed that any and every worker was a hot commodity. Job-hopping was the new norm as businesses outbid each other to get the best talent. Now, thanks to rising interest rates, a slower economy, and a return to the office, it seems that employees don’t have the same negotiating power they did just a couple of years ago, and the new jobs numbers are showing this.

Welcome to a new type of format on the BiggerPockets Money podcast—a headlines show! We’re taking some of the top news stories from the world of personal finance and the overall economy and giving you our takes so you can make better money decisions. First, a strong jobs report comes in, but unemployment still rises as Americans find it harder and harder to get the job they want. Are employers back in control after years of workers owning the market?

Then, we’ll touch on the latest inflation numbers and why costs are rising even as work becomes less available. Student loan borrowers receive a huge win as getting their debt discharged during bankruptcy becomes even easier. This could cause significant ripple effects for which degrees become financeable in the future! Finally, a 529 plan update that now gives parents a HUGE reason to invest in their child’s future education.

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In This Episode We Cover

  • February jobs report numbers and why unemployment is starting to rise
  • Why employers are taking back control of the job market after years of multiple-offer madness
  • The real reason prices are still climbing and inflation is staying hot
  • Student loan discharging and how bankrupt borrowers are getting their student debt removed
  • When it’s the right time to declare bankruptcy based on your debt and income
  • A new incentive to get more parents to invest in 529 plans and what Scott is doing to pay for his children’s college
  • And So Much More!

Links from the Show

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Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.

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