Money Management

More of us are working, and that’s good for both morale and the economy. 

Nationally, the unemployment rate is hovering right around 3.4%, lower than it’s been in 50 years. If you’re looking for a job, it probably doesn’t feel like it right now, but it is good news. It means that employers are actively seeking new employees and that ultimately, employees have more say in where they’re going to work.

What’s amazing is that 13 states currently have an unemployment rate under 3%. Here, we take a look at who’s leading the pack and break down why that particular state is doing so well.

1. Utah: 2.2%

The top three employment sectors in the Beehive State are:

ManufacturingReal estate and rental, and leasingProfessional, scientific, and technical services

According to the Salt Lake Tribune, one explanation for such a low unemployment rate has to do with people needing more money in their bank account. Many who once worked in tourism and hospitality are now taking jobs in higher paying sectors. This leaves more openings for those who want to go into tourism and hospitality.

2. (tied) North Dakota: 2.3%

The top three sectors by total employment in North Dakota are:

MiningAgriculture, forestry, fishing, and huntingRental and leasing

One reason the state may have such a low unemployment rate is because North Dakota is the fifth least-populated state in the U.S., with fewer people competing for jobs.

2. (tied) South Dakota: 2.3%

Here’s where the majority of jobs are in South Dakota, based on total employment:

Finance and insuranceAgriculture, forestry, fishing, and huntingHealthcare and social assistance

While South Dakota has a larger population than North Dakota, it’s still the sixth least-populated state in the country.

4. (tied) Florida: 2.5%

The top three job sectors in Florida will come as little surprise:

TourismAgricultureAviation and aerospace

As long as Florida has 8,400 miles of coastline with Walt Disney in the center, Florida businesses are likely to be hiring.

4. (tied) Minnesota: 2.5%

The top three employment sectors in the Land of 10,000 Lakes are:

AgricultureManufacturingMining

The Star Tribune reports that low rates are shaped by strong hiring since the pandemic has become less acute. When everyone did get back to work, the state’s workforce had approximately 90,000 fewer employees than pre-pandemic.

6. (tied) Nebraska: 2.6%

Nebraska’s unemployment rate has actually risen a bit since last year, but it’s still a cool 2.6%. The top three job sectors are:

ManufacturingFinance and insuranceAgriculture, forestry, fishing, and hunting

Nebraska has been dealing with a chronic worker shortage since before the pandemic hit. Lower unemployment rates are due, in part, to relatively few people to fill each job.

6. (tied) Vermont: 2.6%

Vermont is known for its skiing and scenic walking trails, which makes the top job sector no surprise:

TourismManufacturingAgriculture

As the second least-populous state, Vermont’s unemployment rate benefits from too few people and too many job openings.

8. New Hampshire: 2.7%

Also in the top 13 is the Granite State and its three leading job sectors:

Property, casualty, and direct insuranceNew car dealersPublic schools

Governor Chris Sununu believes his state’s unemployment rate is so low as a result of providing businesses with the flexibility they need to grow and providing people with the incentives and flexibility they need to work.

9. (tied) Alabama: 2.8%

The greatest number of jobs in Alabama can be found in these three sectors:

ManufacturingReal estate, rental, and leasingHealthcare and social services

Alabama Governor Kay Ivey also believes that rising wages are one reason unemployment rates are low in her state. Since 2019, average weekly wages have risen by 20%.

9. (tied) Missouri: 2.8%

The largest employers in the Show Me State are:

Agriculture and forestryAerospace and defenseManufacturing

It’s possible that Missouri’s rate of unemployment is currently low due to the number of jobs added since the slowing of the pandemic.

9. (tied) Montana: 2.8%

Montana’s three top job sectors are:

Agriculture and forestryMiningEnergy production

It may be the fourth spot on this list that helps keep the state’s unemployment rate low: Services. An estimated 33% of the state’s workforce is employed in the service sector.

12. (tied) Idaho 2.9%

By revenue, here are the top three job sectors in Idaho:

New car dealersSupermarkets and grocery storesHospitals

Low unemployment rates are nothing new for Idaho. The credit may go to limited government regulations and low taxes.

12. (tied) Kansas 2.9%

Kansas, home of Dorothy and Toto, is also home to these three top-grossing job sectors:

Finance and insuranceReal estate, rental, and leasingManufacturing

The state of Kansas has secured more than 650 economic development programs since 2018, injecting the economy with billions of dollars and jobs.

The low unemployment rate enjoyed across the country has come as a bit of a surprise to economists forecasting a recession. While the year is young and anything could happen, the current unemployment rate is a good sign.

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Fewer extra fees could save Americans billions of dollars each year. 

How many times have you paid an unexpected costly fee? Unfortunately, it’s a common occurrence, especially in the United States. The Biden Administration wants to reduce these hidden fees to help Americans keep more of their hard-earned money. President Biden is calling on Congress to pass the Junk Fee Prevention Act. Find out how such legislation could save Americans billions of dollars per year.

Junk fees significantly impact the wallets of Americans

Many Americans are struggling financially. With rising living costs, it’s challenging for individuals and families to stretch their paychecks further. It’s already difficult enough to afford housing and food costs in today’s economy.

Junk or hidden extra fees result in more expenses and negatively impact Americans’ checking account balances. No one likes to be nickeled and dimed. Unexpected fees can be frustrating, and for consumers, it can feel like companies that charge such fees are sneaky or dishonest.

The Biden Administration is proposing changes to help consumers save money. By reducing or eliminating hidden junk fees, consumers could keep more money in their pockets and could save Americans billions per year. It’s worth noting that, at this point, the legislation is just a proposal. For Americans to see positive changes, Congress would need to work together.

How the Junk Fee Prevention Act could save you money

What kind of hidden fees could be reduced or eliminated if Congress were to pass the Junk Fee Prevention Act? Here are a few ideas that have been proposed.

Ticket fees: Many online ticket sellers impose service fees; often, these fees aren’t disclosed as part of the total ticket price. Additionally, consumers don’t have many ticket-buying platform options, so they cannot avoid these fees by buying tickets elsewhere. Biden hopes that legislation could eliminate such extra service fees by requiring ticket sellers to disclose these fees in the ticket price.Airline seat selection fees for families: Many airlines charge seat selection fees. For families with children, these fees can add up quickly. Some families pay the fees only to ensure they will be seated with their children during the flight. The Biden Administration wants to do away with such fees and guarantee fee-free family seating.Early termination fees: Many cable TV, internet, and mobile phone companies charge early termination fees when consumers switch providers. In many cases, these costs are high. Biden is urging Congress to eliminate these exorbitant fees so consumers aren’t locked into one provider due to the fear of being charged fees.Resort and destination fees: Some resorts charge resort or destination fees, which aren’t always clear upfront. These fees can quickly make a vacation more costly and impact your vacation budget. Biden hopes to ban these fees by requiring hotels to include these fees in the price of the room to eliminate surprises.

The future of junk fees is unknown

If such legislation were to be passed, many U.S. companies could be required to be more transparent about the fees that they charge, which could help Americans waste less money. This kind of legislation could be a substantial personal finance win for many households.

We’ll have to wait and see whether this legislation becomes a reality. In the meantime, consumers should be on alert before spending money. Read the terms and conditions and research all costs before signing up for a new service or making a purchase so you’re aware of potential hidden fees.

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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You can score your share of free food — if you’re willing to make a giant commitment. 

Some people think Valentine’s Day is overwhelmingly cheesy. Others, however, enjoy celebrating their special someone, and are willing to rack up a sizable credit card tab in the course of showering their partners with gifts and fine food.

But maybe you’re someone who’s not necessarily drawn to fine dining. Maybe casual chain restaurants like Cracker Barrel are more your speed. If so, there’s nothing wrong with that. And if your partner feels similarly, you may want to plan to have your Valentine’s Day dinner at your neighborhood Cracker Barrel — especially if you have near-term plans to propose.

A great time to pop the question

For some people, there’s no better time to propose marriage than Valentine’s Day, or in the vicinity of that holiday. After all, why not take that plunge when love is already in the air?

If you go that route, you might set yourself up for a ton of free food — provided you’re willing to pop the question at a Cracker Barrel location. The restaurant chain is apparently on a mission to encourage long-term commitments and coupledom. It’s running a promotion that will award five lucky winners with the opportunity to score free Cracker Barrel meals for a year.

To qualify, though, you must get engaged at a Cracker Barrel location between Feb. 10 and 16. You must then post a video of your Cracker Barrel proposal to Instagram and include a caption explaining why you decided to propose at Cracker Barrel specifically. (And if the answer is “to snag free food,” well, there are worse reasons.)

Now, the following should go without saying, but getting engaged for the express purpose of being able to snag free food at Cracker Barrel for a year probably is not your best bet. There are many more appropriate reasons for going that route, including loving your partner, having similar goals, and, oh yeah, actually having the desire to get married.

But if a near-term marriage proposal is on your radar anyway, and you love Cracker Barrel, then hey, you might as well see if you can snag a year of free meals along the way. Given the way inflation has made dining out so expensive, and has caused so many consumers to raid their savings accounts, that’s a nice break to capitalize on.

Other ways to score freebies on Valentine’s Day

Maybe you’re not quite ready to get engaged to your significant other. Or maybe you are making plans to propose, but your neighborhood Cracker Barrel just isn’t your ideal background of choice (go figure).

The good news is that Cracker Barrel is advertising an offer for a free dessert with the purchase of two entrees from Feb. 10 through 14. Your dessert choices will include the chain’s famous Double Chocolate Fudge Coca-Cola Cake or Biscuit Beignets. This offer, however, is for customers who dine at the restaurant only.

If you’re not planning to celebrate Valentine’s Day at Cracker Barrel, well, worry not. The chain will no doubt release future promotions that give you the ability to score free stuff. And ideally, those opportunities won’t hinge on having to make a lifelong commitment to someone.

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

 Read More