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Confidence in finding a new job is at an all-time low among workers, while job huggingthe trend where “workers hold onto their jobs for dear life”is at an all-time high, according to a new survey from the Federal Reserve Bank of New York released on Monday. The New York Fed’s Survey of Consumer Expectations for August found respondents believed they had only a 44.9% of finding another job after losing their current onethe lowest in the surveys history since June 2013. That’s 5.8% lower than in July, the previous month. The findings are in line with a July report, which found the majority of employees plan to stay in their current job for at least the next six months, with Gen Z workers reporting the highest desire to stay put. Another interesting finding: 39.1% of those surveyed expect the unemployment rate will be higher a year from now, up 1.7% from July, and a point above the 12-month average. Additionally, respondents expect inflation to go up in the short term, but remain unchanged in the medium-to-long term. They also believe their spending and household income growth will remain the same. The survey results reflect Americans’ general feelings of overall economic uncertainty in the face of higher prices, Trump tariffs, inflation, and the increasing cost of living. The news comes at the same time as August’s weak jobs report. As Fast Company previously reported, last month U.S. employers added only 22,000 jobs. That was as unemployment hit 4.3%, the highest rate since 2021 during the pandemic. Setting aside the pandemic period, it was the largest share of unemployed Americans since September 2017, with over 25% going over six months without a job.
Category:
E-Commerce
Its a whole new world? Shares of Eightco Holdings, a relatively unknown company that runs an inventory-management platform among other things, increased by more than 4,000% on Monday after it announced a $250 million private placement to adopt a buying strategy to purchase Worldcoin. It is the latest small publicly traded company to pivot to a digital-asset treasury in the hopes that the value of the tokens increases over time. Here’s what to know about the news. What is Worldcoin? Worldcoin is the native crypto token for the World blockchain, launched by OpenAI’s Sam Altman. Eightco also announced Dan Ives, an analyst who previously worked at Wedbush Securities, as its new chairman. Eightcos offering, per its release, is expected to close by the end of the week. It also announced plans to change its ticker from “OCTO” to ORBS. The change is pending approval by the Nasdaq exchange, where shares of Eightco are traded. How has Eightco Holdings stock reacted? The news sent Eightcos stock price skyrocketing. After closing at $1.45 a share on Friday, the stock peaked at $83.23 in midday trading on Monday. As of roughly 1:30 pm ET, shares were trading for around $64, about a 4,334% increase. What does Eightco actually do? The Florida-based company was spun off from Vinco Ventures in 2022 and was previously called Cryptyde. According to its most recent annual financial filing with the Securities and Exchange Commission (SEC), Eightco initially comprised three core business units: Web3, Bitcoin mining hardware, and corrugated packaging. In 2022, it acquired Forever 8, which offers funding for e-commerce businesses that sell on Amazon and other platforms. What else is there to know? Digital asset treasuries have become increasingly common this year, although the extent to which they will pay off remains as speculative as the broader crypto market. Notably, Trump Media, parent company of the president’s Truth Social platform, announced plans in May to build a vast Bitcoin reserve with $2.5 billion from institutional investors. In addition to its Worldcoin treasury strategy, Eightco Holdings also announced on Monday a $20 million strategic investment from BitMine Immersion. BitMine, a blockchain mining and hosting company, is also publicly traded and has seen its share prices increase by almost 683% over the past six months. The investment appears to be a bet on the long-term viability of Ethereumand the crypto space as a wholeaccording to company leadership. BitMine wants to support and back innovative projects that create value for the Ethereum network. As an ERC-20 native token, World is aligned with Ethereum,” said Tom Lee, BitMines chairman, in a statement. The value of Worldcoin itself likewise saw a pump today, jumping from roughly $1 as of 9 p.m. ET Sunday night to more than $1.50 as of midday Monday. This story is developing. . .
Category:
E-Commerce
FAFSA, the Free Application for Federal Student Aid, is set to reopen next month. According to a statement from the Department of Education, the online form for the 2026 to 2027 year will be available on Oct. 1. The timing of the application’s opening is notably different from recent years. While in 2016, the application began opening to students in October, major technical issues in recent years have set the schedule back. In 2023, the application for the 2024 to 2025 year didn’t launch until December, meaning students had less time to apply for aid. The issues came about after a 2020 law mandated the form be revised and simplified. The new application is also still in its beta testing stage. “The second phase of testing is now open and runs through September 2025,” the Department of Education’s announcement explains. “Anyone can request to participate, and well invite participants throughout this phase.” The announcement also noted that if students apply for aid during the beta testing period, they won’t need to resubmit the application later. The department says the new application is simplified in a number of ways. For starters, it now has a real-time account verification tool which allows students to use their Social Security Number to avoid a waiting period. It also has a tool which allows students filling out the application to allow another person, like a parent, to collaborate in filling out the form.In terms of loan limits, the new application comes with a few changes from previous years after the passing of Trump’s budget cuts on July 4. For undergrad applicants, new borrowers will have a lifetime limit of $257,500. For the Parent PLUS loan program, parents will only be able to borrow $20,000 per dependent each year or a total of $65,000 per dependent. However, if students are already receiving loans (prior to July 1, 2026) they will be able to continue without the new Parent PLUS caps through the end of their child’s college years.Schools can now enforce specific loan limits for certain programs.All students looking to receive federal aid must complete the form by June 30, 2026. However, colleges and universities all have their own deadlines which students need to be aware of. “Many schools FAFSA due dates have priority deadlines, which means you need to submit your FAFSA form by that date to receive the best aid package,” according to the Department of Education. “These schools typically publish this date on their financial aid web pages. If you cant find the deadline, call the schools financial aid office.” Borrowers can request access to the application here.
Category:
E-Commerce
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