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There’s a lot of speculation about whether a recession is coming in 2023.
Some economists say the country is already experiencing a “rolling recession,” rather than a broad contraction to come later.
There are certain steps Americans can take now to prepare for successive downturns.

By most measures, the U.S. economy is in solid shape.
Although the first half of 2022 started off with negative growth, a strong labor market and resilient consumer helped turn things around and give hope for the year ahead.

Gross domestic product, which tracks the overall health of the economy, rose more than expected in the fourth quarter, and the Federal Reserve is widely expected to announce a more modest rate hike at next week’s policy meeting as inflation starts to ease.
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Still, some portions of the economy, such as housing, manufacturing and corporate profits, have shown signs of a slowdown, and a wave of recent layoffs fueled fears that a recession still looms. 
“There’s no scarcity of economists with strong opinions,” said Tomas Philipson, a professor of public policy studies at the University of Chicago and former acting chair of the White House Council of Economic Advisers. “There’s a lot of scarcity of economists with the right opinion.”

A ‘rolling recession’ may already be underway

Rather than an abrupt contraction Americans need to brace for, a “rolling recession” is already in progress, according to Sung Won Sohn, professor of finance and economics at Loyola Marymount University and chief economist at SS Economics. “This means some parts of the economy take turns suffering rather than simultaneously.”

In fact, the worst may even be over, he said.
A large portion of the reaction to the Fed’s moves has worked its way through the economy and the financial markets. Businesses trimmed inventories and cut jobs in some areas, and consumers refinanced their homes ahead of rising rates.
“It is time to think about an exit strategy,” Sohn said.

This cycle has proven so many of our traditional theories wrong.

assistant finance professor at Columbia University Business School

“Expectations about a recession have been pretty inaccurate,” added Yiming Ma, an assistant finance professor at Columbia University Business School.
“This cycle has proven so many of our traditional theories wrong,” Ma said.
In fact, this could be the soft landing Fed officials have been aiming for after aggressively raising interest rates to tame inflation, she added.

What this means for consumers

But regardless of the country’s economic standing, many Americans are struggling in the face of sky-high prices for everyday items, such as eggs, and most have exhausted their savings and are now leaning on credit cards to make ends meet.
Several reports show financial well-being is deteriorating overall.
“For consumers, there’s a lot of uncertainty,” Philipson said. For now, the focus should be on sustaining income and avoiding high-interest debt, he added.
“Don’t plan any major future expenses,” he said. “No one knows where this economy is going.”

How to prepare your finances for a rolling recession

While the impact of inflation is being felt across the board, every household will experience a rolling recession to a different degree, depending on their industry, income, savings and job security.  
Still, there are a few ways to prepare that are universal, according to Larry Harris, the Fred V. Keenan Chair in Finance at the University of Southern California Marshall School of Business and a former chief economist of the Securities and Exchange Commission.
Here’s his advice:

Streamline your spending. “If they expect they will be forced to cut back, the sooner they do it, the better off they’ll be,” Harris said. That may mean cutting a few expenses now that you just want and really don’t need, such as the subscription services that you signed up for during the Covid pandemic. If you don’t use it, lose it.
Avoid variable-rate debts. Most credit cards have a variable annual percentage rate, which means there’s a direct connection to the Fed’s benchmark, so anyone who carries a balance has seen their interest charges jump with each move by the Fed. Homeowners with adjustable-rate mortgages or home equity lines of credit, which are pegged to the prime rate, have also been affected.
Stash extra cash in Series I bonds. These inflation-protected assets, backed by the federal government, are nearly risk-free and are currently paying 6.89% annual interest on new purchases through this April, down from the 9.62% yearly rate offered from May through October last year.Although there are purchase limits and you can’t tap the money for at least one year, you’ll score a much better return than a savings account or a one-year certificate of deposit. Rates on online savings accounts, money market accounts and CDs have all gone up, but those returns still don’t compete with inflation.

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The Biden administration has approved more than 16 million people for student loan forgiveness, but whether they see the relief will depend on the Supreme Court’s decision.
The nine justices will hear oral arguments over the policy Feb. 28.
Here’s a state-by-state breakdown of where those borrowers live.

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The U.S. Department of Education has “fully approved” more than 16 million people for federal student loan forgiveness and sent their applications to loan servicers, the Biden administration announced Friday.
The administration gave a state-by-state breakdown of the number of borrowers who have applied and been approved for its sweeping debt relief program, which is on hold until the U.S. Supreme Court decides its fate.

In August, President Joe Biden announced that he’d forgive at least $10,000, and up to $20,000, in federal student loan debt for tens of millions of borrowers.
Within months, however, Republicans and conservative groups had brought at least six legal challenges against the plan. The Biden administration in November had to close its student loan forgiveness portal after a federal judge in Texas struck down its plan.
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Still, more than 26 million people had applied for the relief while the application was open or have been deemed automatically eligible, according to the administration.

“These borrowers could be benefitting from the Administration’s program right now were it not for lawsuits brought by elected officials and special interests,” a White House fact sheet said.
The Supreme Court will hear arguments over the president’s plan on Feb. 28.

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Despite rising U.S. rental prices, competition is easing in some markets as inventory grows, according to a new report.
At the end of the second half of 2022, the median U.S. rent was $2,305, a nearly 6% decline compared to the close of the first half of 2022, the report shows.
Real estate experts cover how the rental market may be affecting decisions to buy.

Colorful cafe bars at the iconic Beale Street music and entertainment district of downtown Memphis, Tennessee.
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Despite broad hikes in rental prices, competition is easing in some U.S. markets as inventory grows, according to a new report from national real estate brokerage HouseCanary.
At the end of 2022, the median U.S. rent was $2,305, which was nearly 5% higher than a year earlier. But median rents ended 2022 almost 6% lower compared to the start of the year, the report shows.   

Although rent prices have cooled in some markets, others have continued to grow, including metros along the East Coast and through the industrial Midwest, HouseCanary found.   
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5 metros with the largest annual rent increase

These U.S. metropolitan real estate markets had the biggest year-over-year percentage increase in the median monthly single-family rental listing price from the second half of 2021 to the second half of 2022. 
1. Indianapolis; Carmel, Indiana; Anderson, IndianaMedian rent at the end of 2021: $1,300Median rent at the end of 2022: $1,700Rent increase: 30.8%
2. Charleston, South Carolina; North Charleston, South CarolinaMedian rent at the end of 2021: $2,195Median rent at the end of 2022: $2,750Rent increase: 25.3%

New Haven, Connecticut
Barry Winiker | Photodisc | Getty Images

3. New Haven, Connecticut; Milford, ConnecticutMedian rent at the end of 2021: $2,250Median rent at the end of 2022: $2,800Rent increase: 24.4%
4. Naples, Florida; Marco Island, Florida Median rent at the end of 2021: $5,200Median rent at the end of 2022: $6,448Rent increase: 24.0%
5. PittsburghMedian rent at the end of 2021: $1,520Median rent at the end of 2022: $1,872Rent increase: 23.2% 

5 metros with the largest annual rent decrease

These U.S. metropolitan real estate markets had the biggest year-over-year percentage decrease in the median monthly single-family rental listing price from the second half of 2021 to the second half of 2022. 
1. Memphis, TennesseeMedian rent at the end of 2021: $1,800Median rent at the end of 2022: $1,695Rent decrease: -5.8%
2. Port St. Lucie, FloridaMedian rent at the end of 2021: $2,800Median rent at the end of 2022: $2,650Rent decrease: -5.4%

Cape Coral, Florida
Keita Araki / Eyeem | Eyeem | Getty Images

3. Cape Coral, Florida; Fort Myers, FloridaMedian rent at the end of 2021: $4,000Median rent at the end of 2022: $3,795Rent decrease: -5.1%
4. Palm Bay, Florida; Melbourne, Florida; Titusville, FloridaMedian rent at the end of 2021: $2,300Median rent at the end of 2022: $2,200Rent decrease: -4.3%
5. Phoenix; Mesa, Arizona; Chandler, ArizonaMedian rent at the end of 2021: $2,350Median rent at the end of 2022: $2,300Rent decrease: -2.1%

‘It’s a pretty dramatic shift’ housing experts says

As rent prices ease and mortgage rates rise, it’s become cheaper to rent than buy in many markets. 
Renting a three-bedroom home is more affordable than owning a comparable median-priced property in most of the country, according to a recent report from Attom, a real estate data analysis firm. 
Similarly, Realtor.com’s December rental report published Thursday found the U.S. median rental price, $1,712, was nearly $800 cheaper than the monthly cost for a starter home.   

“It’s a pretty dramatic shift,” said Rick Sharga, executive vice president of market intelligence at Attom, pointing to one year ago when it was cheaper to buy than rent in 60% of the markets Attom analyzed. “You simply can’t overstate the impact that higher financing costs have had on homeownership.” 
While mortgage interest rates have recently cooled, rates more than doubled in 2022, which has never happened in one year, according to Freddie Mac. In January 2022, the average 30-year fixed rate mortgage was around 3% before jumping to over 7% in October and November.
Sharga said the mortgage rate increase made monthly mortgage payments 45% to 50% higher for a home purchase, even as home price appreciation slowed. “That probably is the single biggest factor in creating that shift,” he added.

The decision to rent or buy is ‘always a matter of timing’

While conditions for homebuyers may be somewhat more favorable in 2023, it’s difficult to predict whether the economy is heading for a recession, which may shift financial priorities, experts say.
“One thing to always keep in mind is that markets are constantly changing,” said Keith Gumbinger, vice president of mortgage website HSH. “If you don’t need to be in this marketplace right now, you’re probably better to hold off and watch conditions change.”
Of course, there’s more to home-buying decisions than home prices and mortgage interest rates. “The decision on whether to rent or buy is always a matter of timing,” he said. “And more importantly, it’s a matter of need.”

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While nothing is in legislative form yet, the Republican Study Committee’s proposed changes to Medicare may serve as a starting point.
Among the proposals: raising the age of eligibility for Medicare to 67 from 65 to align with Social Security’s full retirement age.
Congressional lawmakers will need to take action before 2028 to prevent Medicare from only being able to pay 90% of benefits under Part A (hospital coverage).

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As congressional lawmakers in the House slog through the early stages of negotiating over the debt ceiling — the amount of money the U.S. government can borrow — there’s been concern that those discussions could include spending cuts to Medicare.
However, House Speaker Kevin McCarthy, R-Calif., has now made assurances that Medicare is off-limits during these negotiations (as is Social Security, for that matter), according to published reports.

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Yet at some point, experts say, Congress will need to deal with a looming problem for Medicare: One of its funding sources is projected to become insolvent in 2028.
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“Medicare is a sizable share of the federal budget,” said Gretchen Jacobson, vice president of the Medicare program at the Commonwealth Fund. “Balancing the fiscal [soundness] of the federal government with affordability for beneficiaries has always been an ongoing challenge.”

How the GOP is approaching Medicare’s fiscal woes

Medicare has 64.5 million beneficiaries, the majority of whom are at least age 65 — the age of eligibility — or younger with permanent disabilities. It consists of Part A (hospital insurance) and Part B (outpatient care coverage).
There also is Part D (prescription drug coverage) and Part C (Medicare Advantage Plans), both of which are offered by private insurers. Advantage Plans deliver Parts A and B, and usually Part D. 

The Republican Study Committee — the GOP’s largest caucus, with about 170 members out of 222 House legislators — has addressed the looming fiscal problem by outlining hoped-for changes to Medicare in its proposed budget, which it says would ensure the system’s long-term solvency.

Among the group’s proposals: raising the age of eligibility to 67 from 65, which would align with the full retirement age for Social Security. Additionally, Parts A, B and D would be consolidated into a single plan with one premium, and direct competition would be encouraged from Advantage Plans with that federal plan. There also would be premium subsidies available, depending on a person’s income.
“The [budget] is going to be our guide for what conservatives would like to see in an ideal world,” said a committee spokesperson.

‘It’s still early in the policy process,’ expert says

Nothing is in legislative form yet, and it’s uncertain exactly which proposals would be included if bills are introduced — or what their chances of getting through a divided Congress would be.
“This is still early in the policy process so it is hard to predict which proposals will remain on the table, or how they might evolve,” said Tricia Neuman, executive director for the Kaiser Family Foundation’s program on Medicare policy. “Some of the proposals would involve a large-scale restructuring of the current Medicare program.”

The stakes in a debate like this are high, given the importance of Medicare.

Tricia Neuman
executive director for the Kaiser Family Foundation’s program on Medicare policy

Right now, Neuman said, the savings proposals are being described at a fairly high level.
“The policy debate starts to get real when the specifics are laid out,” she said. “The stakes in a debate like this are high, given the importance of Medicare [for] seniors and younger people with disabilities.”

Here’s what insolvency in 2028 would mean

In simple terms, it’s the Part A trust fund that is facing a shortfall beginning in 2028, according to the latest Medicare trustees report. Unless Congress intervenes before then, the fund would only be able to pay roughly 90% of claims under Part A beginning that year.
That trust fund gets most of its revenue from dedicated taxes paid by employees and employers. Generally, workers pay 1.45% via payroll tax withholdings (although an additional 0.9% is imposed on incomes above $200,000 for single taxpayers or $250,000 for married couples). Employers also contribute 1.45% on behalf of each worker. Self-employed individuals essentially pay both the employer and employee share.

Meanwhile, Part B gets its funding from monthly premiums paid by Medicare beneficiaries, as well as from the federal government’s general revenue. The same goes for Part D. And each year, premiums are adjusted to reflect anticipated spending and ensure there’s no shortfall.
Despite the threat of insolvency, reducing Medicare spending isn’t realistic, said Robert Moffit, a senior fellow at the Heritage Foundation, a conservative think tank.
Enrollment in Medicare continues growing as the population ages, as does the cost of providing medical care, he noted.
“I don’t think anyone thinks we’re going to spend less on Medicare in the future than we are today,” Moffit said. “We’re going to spend more, but we can spend those dollars smartly.”

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The U.S. is not in a recession, even as many economists and CEOs are bracing for a possible downturn this year.
Yet many Americans think a downturn is already here. The reason: Record high inflation is already causing personal.

A woman shops for chicken at a supermarket in Santa Monica, California, on Sept. 13, 2022.
Apu Gomes | AFP | Getty Images

For those who fear a recession may be coming, the only question is when.
Many economists and CEOs, in fact, expect a recession may be on the horizon this year

A recession is traditionally defined as two consecutive quarters of declining economic growth. That is measured by a drop in gross domestic product, or GDP, a measure of the country’s output in the value of goods and services.
The U.S. economy finished 2022 with positive GDP, new government data shows. From October to December, GDP climbed at a 2.9% annualized pace.
But economic risks still loom. As the Federal Reserve raises interest rates to curb inflation, it may also be putting the brakes on growth.
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Experts aren’t the only ones worried about a downturn.

Almost half of U.S. adults — 46% — think the nation is already in a recession, a recent Morning Consult survey found. Meanwhile, 25% expect such a downturn within the next year.
“We’re not officially in a recession,” said Amanda Snyder, finance reporter at Morning Consult.
“But if people feel that their money is not going as far as it was or their income is shrinking, then they personally are experiencing a financial downturn,” she added.
The survey found 31% of more than 2,200 respondents have started taking steps to prepare for a recession.

Meanwhile, half of U.S. adults — 50% — have not started preparing for a downturn, though they wish they could, the mid-January survey found.
The remaining 19% said they have not prepared because they do not want or need to.
Those who most likely have taken steps to safeguard their finances were those with incomes over $100,000, at 41%; followed by those earning $50,000 to $100,000, at 39%. Those earning less than $50,000 were least likely to have started to prepare, at 24%.
Experts say there are several ways to strive to get your finances in order now.

1. Reduce your spending

Admittedly, record high prices at the grocery store can make it difficult to pare your food bills.
But it is possible to look for ways to cut back to make room for other financial goals.
Certified financial planner Ted Jenkin, CEO and founder of oXYGen Financial and a member of CNBC’s Financial Advisor Council, recommends a 21-day budget cleanse find ways to cut back on spending.
Over 21 days, shop every single bill in your household to see if you can get a better deal.

2. Boost your emergency savings

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Even having just a little more cash set aside can help ensure an unforeseen event like a car repair or unexpected bill does not sink your budget.
Yet surveys show many Americans would be hard pressed to cover a $400 expense in cash.
Experts say the key is to automate your savings so you do not even see the money in your paycheck.
“Even if we do get through this period relatively unscathed, that’s all the more reason to be saving,” said Mark Hamrick, senior economic analyst at Bankrate.com.
“I have yet to meet anybody who saved too much money,” he added.

3. Reduce your debt balances

While higher interest rates are pushing up what you pay on debts, you can control that by paying down your balances, Matt Schulz, chief credit analyst at LendingTree, previously told CNBC.com.
“For inflation to grow this quickly is something that is really rattling to people,” Schulz said.

But certain moves may help you to control your personal interest rate, he said.
If you have outstanding credit card balances you’re carrying from month to month, try to lower the costs you’re paying on that debt, either through a 0% balance transfer offer or a personal loan.
Alternatively, you may try simply asking your current credit card company for a lower interest rate.

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High inflation and economic uncertainty are cramping Americans’ ability to save for emergencies.
“It’s a … more dangerous scenario now than it was during the pandemic,” personal finance expert Suze Orman tells CNBC.com.
Here’s why having an emergency savings set aside is crucial to your financial health.

Suze Orman speaks during AOL’s BUILD Speaker Series at AOL Studios In New York.
Jenny Anderson | WireImage | Getty Images

An unexpected bill is never convenient.
But there are even more reasons now that an unforeseen event — such as a car repair or medical expense — could put Americans on unstable financial footing.

Blame record high inflation, which has soared to the highest levels in 40 years and pushed up prices for everything, including grocery store staples like butter, lettuce and dairy products.
Heading into 2023, recession risks also loom. The question is whether a downturn would be mild or prolonged, while leading tech employers like Amazon and Google have already started slashing jobs.
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Meanwhile, the federal government has reached the debt ceiling. It’s now up to lawmakers to find a solution so the U.S. government can continue to pay its bills.
“We’re having a financial pandemic now, so to speak,” personal finance expert Suze Orman told CNBC.com.

“It’s a … more dangerous scenario now than it was during the pandemic,” Orman said of the current financial risks Americans face.
Many Americans were able to set aside more money than usual during the Covid-19 pandemic, as government aid meant additional unemployment benefits for jobless Americans for longer, while millions of individuals and families received stimulus checks.

Those federal funds are now dwindling, Orman said, as bills — including rents that have, in some cases, tripled and interest rates on mortgages that have climbed higher than they were before the pandemic — start to come due.
The environment may be the wake-up call many Americans need, she said.
“You have to have an emergency savings account, whether you’re in recession or not in a recession,” Orman said.

Americans living paycheck to paycheck

There’s never been a better time to have emergency cash set aside.
Yet putting away a meaningful sum of money continues to be a challenge for many Americans.
A new survey finds 74% of Americans are now living paycheck to paycheck, according to SecureSave, a financial technology company that aims to help workers put aside emergency savings through their employers.
As inflation has soared, more than half of respondents — 54% — have decreased their savings in the past year, SecureSave’s November online survey of more than 1,000 U.S. adults found.
About 67% of workers cannot afford to pay for an emergency $400 expense.

Among the things that Americans regret most about their personal finances is the failure to save for emergencies.

Mark Hamrick
senior economic analyst at Bankrate.com

Orman co-founded SecureSave during the pandemic after having told people for 40 years they need to have a savings account, she said.
“Our goal was very simple: Let’s see if we can change the savings rate in America for those who have never saved a penny before,” Orman said.
Many people often fall short of that goal. A new survey from Bankrate.com finds that most adults — 57% — are unable to afford an emergency $1,000 expense.
“People just can’t do this on their own,” Orman said. “The key is not to see it in your paycheck.”
Through SecureSave, workers can have savings — such as $25 — automatically taken from their paycheck, and may then also receive a $3 or $5 match from their employers.
At the end of a year, people are often surprised by the sums they save, whether it be $600 or $1,000, Orman said.

“They love it,” she noted. “And a lot of times they will raise their paycheck contribution.
“Once you start seeing how easy it is to save, the more you like to save,” Orman said.
By building up the cash you have on hand, you may be able to avoid turning to credit cards as interest rates rise.
To that point, 25% of consumers surveyed by Bankrate.com said they would charge an unexpected expense of $1,000 or more and pay it off over time.
That strategy would be even more expensive now, with new credit card offers for even the best qualified individuals at interest rates of almost 20%, noted Mark Hamrick, senior economic analyst at Bankrate.com.

How savings can help other financial goals

Guido Mieth | DigitalVision | Getty Images

Setting up emergency savings with an employer is just the first hurdle towards financial wellness, according to Orman.
The next goal is to save eight to 12 months’ expenses in a separate savings account, Orman said.
Even workers who are strapped for cash should be contributing enough to their retirement accounts up to an employer match, if there is one.
“You cannot pass up free money,” Orman said.
As workers reduce their financial stress, that may also help employers. Almost 30% of workers say they spend one to two hours a day worrying about money, according to SecureSave.
It can also help to prevent regrets later on, according to Bankrate.com’s Hamrick.
“We’ve historically found that among the things that Americans regret most about their personal finances is the failure to save for emergencies,” Hamrick said. “The other is the failure to save for retirement.”

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With a possible recession looming, going back to school is often considered a good way to boost your career prospects and earnings potential.
But inflation and higher interest rates are complicating the usual return on the investment equation.

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An economic downturn usually sparks a renewed interest in picking up new skills at school.
Historically, enrollment in graduate school picks up amid recession as workers take the time to “skill up” or pivot to another industry with better career prospects or pay.

“When the economy goes down, the interest in graduate schools goes up,” said Eric Greenberg, president of Greenberg Educational Group, a New York City-based consulting firm. “The education umbrella is kind of a hedge.”
But this current economic cycle is unlike any other.
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A wave of layoff announcements has raised concerns that the job market is finally cooling as recession fears take hold. Yet government data shows the U.S. labor market is still strong, with a record low unemployment rate of 3.5%.
Still, a recession may be looming, some experts say, which raises the question of whether going back to school makes more sense than trying to weather a potential period of unemployment.

But there are many factors, including cost and a larger debt burden, to consider that could erode the financial return on investment for a graduate education, Greenberg said. “There are subtle nuances in play.”
Here are some of those key considerations:
This is not your average economic cycle
History is often the best guide, but in this case the usual patterns may not apply. 
In 2020, nationwide enrollment in graduate school initially sank but then quickly rebounded the following year, only to slump again in the fall of 2022. That 1% slide reversed the previous year’s 2.7% gain, according to a report by the National Student Clearinghouse Research Center based on data from colleges. 
In 2023, enrollment rates could likely pick up once again, in part because this time, a recession isn’t likely to be as short-lived as it was during the pandemic, explained Doug Shapiro, executive director of the National Student Clearinghouse Research Center.
There’s usually a lag time of up to a year after the economy slows before workers return to school for retraining, he said.
“Without that expectation of a quick rebound, that could lead to the increased enrollment response that we’re used to seeing,” Shapiro said.
There’s better access to advanced degrees

Students walk past Stanford University’s Graduate School of Business in Stanford, California.
Susan Ragan | Bloomberg | Getty Images

With more programs available remotely, getting an advanced degree is also more manageable than it was before the pandemic.
Now tech workers, for example, who have been laid off can boost their resumes with additional graduate qualifications and certificates that they find online, Shapiro said.
To further expand access, some schools, including Northwestern’s Kellogg School of Management, MIT’s Sloan School of Management, the Tuck School of Business at Dartmouth, Duke’s Fuqua School of Business and UC Berkeley’s Haas School of Business, have waived testing requirements, fees or extended application deadlines for recently laid-off employees.
“There’s an influx of exceptionally talented individuals in the labor market right now who may have been considering business school someday down the road, and the road just took an unexpected sharp turn on them,” Lawrence Mur’ray, Dartmouth’s executive director of admissions and financial aid, said in a statement.
The potential return on investment

Going back to school typically pays. Workers with master’s, professional or doctoral degrees have the highest earnings overall and experience lower levels of unemployment, according to the U.S. Bureau of Labor Statistics.
But in addition to the economic payoff, there is also a higher cost. In less than two decades, the median debt among borrowers who completed master’s degrees has nearly doubled as the cost of a graduate degree, particularly in the form of student debt, spiked, according to the Urban Institute’s Center on Education Data and Policy.
“The financing aspect profoundly influences the decision-making,” said Allen Koh, CEO of Cardinal Education, a California-based tutoring, test-prep and college-admissions firm.

The interest rate on federal student loans taken out for the 2022-23 academic year rose to 4.99%, up from 3.73% last year and 2.75% in 2020-21. For graduate students, the rate jumped to 6.54%, from 5.28% last year and any loans disbursed after July 1 will likely be even higher.
At the same time, inflation has also caused the cost of living to soar, making rent and daily expenses even less affordable on a student’s budget.
To that end, some master’s programs have particularly high debt-to-earnings ratios, such as social work, counseling, music and fine arts, the institute also found.
The growing availability of tuition benefits  
A growing number of companies may be willing to pick up a portion of the tab to ease the burden of affording education.
Coming out of the pandemic, education benefits played a big part in the competition for workers, and as a result more companies are now offering opportunities to develop new skills, according to the Society for Human Resource Management’s recent employee benefits survey. 
Almost half, or 48%, of employers said they offer undergraduate- or graduate-tuition assistance as a benefit, according to the survey.

Of course, employers paying for their workers to get a degree is not new. For decades, businesses have picked up the tab for white-collar workers’ graduate studies and MBAs.
However, many companies are now extending this benefit to hourly and part-time employees as well as heavily promoting it more so than they have in the past.
Even if there is a strong desire to go back to school, less than half of employees said they have been able to pursue educational goals in the last several years, mostly due to the time commitment and financial obstacles, according to research by Bright Horizons.
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The Biden administration rolled out a blueprint for a renters bill of rights, a major win for tenants, advocates say.
Some of the upcoming changes could include curbing ‘egregious’ rent hikes in certain properties, and more funding to get low-income tenants facing eviction access to legal representation.

Housing rights activists and tenants protest against evictions and the poor condition of their apartments outside the offices the landlord Broadway Capital in Chelsea, Massachusetts on April 25, 2022.
Brian Snyder | Reuters

The Biden administration announced on Wednesday new actions to protect renters across the U.S., including trying to curb practices that prevent people from accessing housing and curtailing exorbitant rent increases in certain properties with government-backed mortgages.
A “Blueprint for a Renters Bill of Rights” was included in the announcement. It lays out a collection of principles for the federal government and other entities to take action on, including “access to safe, quality, accessible and affordable housing” and “clear and fair leases.”

“Having the federal government and the White House talk about the need for and endorse a renters’ bill of rights is really significant,” said Diane Yentel, president and CEO of the National Low Income Housing Coalition.
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Over 44 million households, or roughly 35% the U.S. population, live in rental housing, according to the White House.
While the coronavirus pandemic led to a wave of new renter protections and aid measures, including a historic pot of rental assistance for those who’d fallen behind, most of that help has dried up by now.
Advocates have long called on the government to respond to an affordability crisis facing renters. Nearly half of renter households in the U.S. direct more than 30% of their income to rent and utilities each month, and 900,000 evictions occurred annually prior to the public health crisis.

Possibly curbing ‘egregious rent increases’

As part of Wednesday’s announcement, the Federal Housing Finance Agency and federal mortgage giants Fannie Mae and Freddie Mac say they will look into possibly establishing tenant protections that limit “egregious rent increases” at properties backed by certain federal mortgages.
More than 28% of the national stock of rental units are federally financed, according to a calculation by the Urban Institute in 2020.
Rent protections on such properties “would be the most significant action the federal government could take,” Yentel said.
As part of the White House actions, the Federal Trade Commission said it will look into ways to expand its authority to take action against practices that “unfairly prevent consumers from obtaining and retaining housing.”

The persistence of eviction information on certain background reports, as well as high application fees and security deposits, are some of these practices, Yentel said.
The U.S. Department of Housing and Urban Development also said it will move toward requiring certain rental property owners to provide at least 30 days notice if they plan to terminate the lease of a tenant due to nonpayment of rent. The agency will award $20 million for the Eviction Protection Grant Program, which will fund nonprofits and government agencies to provide legal assistance to low-income tenants at risk of eviction.
Bob Pinnegar, president and CEO of trade group the National Apartment Association, said the industry opposed expanded federal involvement in the landlord-tenant relationship.
“Complex housing policy is a state and local issue and the best solutions utilize carrots over sticks,” Pinnegar said.

‘Aggressive administrative action is so important’

Although the steps announced by the Biden administration are historic, they won’t resolve the U.S. housing crisis, Yentel said.
What’s needed to address the deep issues, she said, is building more affordable housing, creating permanent emergency and universal rental assistance, and establishing robust tenant protections.
However, Yentel added, since it’s “hard to see where the opportunities for those investments will come from this Congress, aggressive administrative action is so important.”

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