Economic Glance
David West raised four kids in Los Angeles working as a Hollywood cinematographer — no mean feat in such a pricey city. But a few years ago, his life took a hard turn.
"Everything went south. Divorce. My brother died," he said. "My dog died." On top of that, a string of clients who'd hired him for decades also passed away.
Before long, he'd burned through cash and damaged his credit. He moved to Fresno, Calif., and now, at 72, West is in a situation he never imagined at this stage of life but one that more and more older people are facing: renting a room in the home of a complete stranger.
"I tried to move, like, an apartment's worth of stuff into a room," he said with a laugh at how impossible it seemed. "You know, how do you do that? I still haven't figured it out."
West looked into a housing subsidy, but his income is just over the limit, so he's grateful for the cost savings of a house share. His roommate, also an older man, covers Wi-Fi, utilities and cable. West volunteers his photography skills at the church where the man is involved and shares his Costco membership.
The US labor market picked up in March as employers showed signs of resilience amid the US-Israel war in Iran.
Nearly 400 millionaires and billionaires from 24 countries are calling on global leaders to increase taxes on the super-rich, amid growing concern that the wealthiest in society are buying political influence.
The job market continues to show signs of cooling.
Meta will lay off roughly 600 employees within its artificial intelligence unit as the company looks to reduce layers and operate more nimbly, a spokesperson confirmed to CNBC on Wednesday.
