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Economy continues steady recovery from inflation

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Food, grocery store, shopping


American consumers have received certainly one of the strongest signals yet that the inflation that has eaten into their wallets may finally be cooling off. The best sign for consumers might be the typical used automotive price index, which is down 10% from June 2023 and 1.5% from June 2024.

Daily necessities corresponding to gasoline, rent and groceries also fell by 0.1% in June, the info showed. price of mobile phones fell 10% year-on-year, the value of TVs fell 6% and the value of smart home devices fell 4%, as did the fee of medical health insurance over the identical period.

But there isn’t a relief in sight for automotive insurance, which is now the most costly in almost 50 years. Insurers justify the sharp increase in insurance costs by citing record claims and expenses paid out in comparison with the shortfall in premiums paid.

Some food items have cooled, namely ham, potatoes, rice and apples. Others, corresponding to frozen juices, drinks and beef products, remain costlier. Similarly, eating out continues to be costlier, with the fee increasing by 4% from July 2024.

Those percentages, highlighted by the Consumer Price Index, mark the slowest annual price growth of 2021, and while inflation has been steadily declining from a peak of 9.1%, it has yet to succeed in the Fed’s 2% goal. Some consider a Federal Reserve rate cut could possibly be on the table when central bankers meet in late July.

Barring speculation about rate cuts, the Fed is mostly expected to approve a rate cut when the organization meets in September. According to , Fed Chairman Jerome Powell comments to the senate banking committee On July 9, in its half-year update, it suggested that if data remained positive, an rate of interest cut could come soon.

“The latest inflation readings, however, have shown some further modest progress,” Powell told the Senate committee, “and more positive data would strengthen our confidence that inflation is moving toward 2% in a sustainable manner.”

Powell also said economic indicators suggest “that conditions have returned to roughly where they were on the eve of the pandemic: strong but not overheated” and suggested the subsequent “likely course seems to be … easing policy at the right time,” before saying he didn’t consider the Fed would raise rates of interest.

Powell has long advocated for an independent Federal Reserve and has incessantly faced attacks from then-President Donald Trump for raising rates of interest. Trump, anticipating one other term, has already said he wouldn’t nominate Powell if he’s re-elected.

Powell continues to consider in the necessity for a Fed that’s independent of the political whims of political parties and their leaders, saying: “It is, in principle, literally, essential. The good news is that I think it is widely understood on both sides of the aisle. We have to do our job in a way that is outside the political process.”


This article was originally published on : www.blackenterprise.com
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Business and Finance

Gary Payton Launches Greater Purpose Cannabis Brand

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Gary Payton, Green Label Rx


Former NBA star Gary Payton recently partnered with Green Label Rx to launch Greater Purpose, a cannabis-infused wellness brand with recovery support for athletes and professionals.

The product will debut on September 20 at Hall of Flowers, a cannabis industry trade show in Santa Rosa, California. The former legendary Seattle Supersonic guard has teamed up with Green Label Rx founder Jason McKnight to bring the product to the world.

“Having maintained peak physical fitness throughout my career, it became important to me to share the benefits of cannabis recovery and offer the highest quality wellness products to those with an active lifestyle,” Gary Payton said in a written statement.

Greater Purpose bills itself as the primary brand of its kind to mix the worlds of recovery and cannabis. The topical product line will help alleviate chronic muscle pain, because it has been developed to harness the healing properties of cannabis and is designed to assist those with an lively lifestyle.

During the Hall of Flowers festival, people will have the opportunity to experience Greater Purpose, receive exclusive prizes, watch live product demos and meet Payton on the event.

“Greater Purpose is more than just a product line – it’s a movement to change the way we think about recovery and self-care,” said Jason McKnight.

It was recently revealed that Payton, who has been coaching basketball for several years, was announced as the brand new head coach of the College of Alameda men’s basketball team. He will lead the team after serving as head coach at Lincoln University in Oakland, California for the past three seasons.

Payton has coached within the Big3 Ice Cube league since its inception in 2017. He led his team to a title last season and was named Big3 Coach of the Year.

In 2006, he won the NBA championship with the Miami Heat. The 56-year-old played within the NBA for 17 seasons with the Seattle SuperSonics, Miami Heat, Milwaukee Bucks, Los Angeles Lakers and Boston Celtics. In the 1995-96 season, he was named the NBA Defensive Player of the Year, becoming the primary point guard to win the award.


This article was originally published on : www.blackenterprise.com
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2nd Annual Franchise Game Symposium in Plano, Texas Breaks New Ground

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Tarji Carter - The Franchise Game Founder / Event Organizer


Franchise gameThe first and only African American Franchise Symposium and Trade Show in the U.S., held its second annual event on August 16, 2024 in Plano, Texas. The event, which was spearheaded by The Franchise Player, Tarji Carter, marketing expert Dessie Brown Jr., and brand consultant Daylon Goff, was held on the Yum! Restaurants International Corporate Campus. The symposium brought together industry experts and leaders to debate the secrets to success, challenges, and opportunities in franchising.

(Photo credit: Donnie R. Word II)

This yr’s theme, “Own Your Future: Franchising as a Path to True Independence,” was the focus throughout the day. There were many notable highlights, but in keeping with Tarja Carter, “One of the most memorable moments at The Franchise Game 2024 was an incredible fireside chat with our esteemed guest, Roland Parrish, and the incredible Lady Jade. Roland’s story of how he used his success to revitalize a struggling community in Dallas through his foundation is truly inspiring. And his sponsorship of Charlie Pride’s internship with the Texas Rangers Baseball Club shows just how deep his commitment runs. But what really stole the show were the priceless gems he dropped, encouraging everyone to lead with integrity, not greed. His words hit home in a powerful way and left the audience feeling inspired, motivated, and ready to make a difference.”

James Fripp, Chief Equity, Inclusion & Belonging Officer at Yum! Brands made a big impact at this yr’s Franchise Game by offering two scholarships to the Yum! Franchising Bootcamp through the Executive Education Program on the University of Louisville! This opportunity is an actual game-changer for 2 lucky participants who will now have the prospect to delve into the world of franchising and gain invaluable knowledge to advance in their entrepreneurial journey. What a unbelievable gesture of support and empowerment from James and Yum! Brands!

This yr, there have been twice as many exhibitors, including Ben & Jerry’s, American Franchise Academy, Nebo Law Firm, Dine Brands (IHOP, Applebee’s and Fuzzy’s Taco Shop), GoTo Foods (Cinnabon, Carvel, Schlotzsky’s, Moe’s Southwest Grill, Jamba Juice, McAlister’s Deli and Auntie Anne’s), Smoothie King, Potbelly Sandwiches, KFC, European Wax Center, Inspire Brands (Dunkin’, Baskin Robbins, Arby’s, Buffalo Wild Wings, Jimmy Johns and Sonic Drive-In), EATS Broker (restaurant brokerage), ATenantCo (business real estate), Orchatect (IT infrastructure solutions) and Chick N Max.

I had the pleasure of participating in the symposium and trade fair, representing Ben & Jerry’s and reporting on the event BLACK ENTREPRENEURSHIP readers. In my role as a franchise development consultant for the brand, I shared with The Franchise Game participants details about Ben & Jerry’s industry-leading racial equity incentive program, which offers a big reduction in franchise fees and waives licensing fees for BIPOC candidates interested in ownership. “It’s definitely one of the most, if not the most aggressive incentive programs in the game,” Carter said. “We were also very grateful to partner with Ben & Jerry’s, who generously donated ten tickets for students at the University of North Texas at Frisco to participate in The Franchise Game and experience the world of franchising firsthand. It’s all about creating opportunity and access, and we’re so grateful for Ben & Jerry’s commitment to making a real difference!”

After the massive success of The Franchise Game 2024, planning is already underway for 2025. Carter said, “2024 was an absolute blast! We’ve doubled in size, with a bigger, better, and bolder program that sets the stage for something truly special. Our partnership with Yum! Brands has been phenomenal, and I’m excited to announce that we’re returning to their Plano Corporate Campus for The Franchise Game 2025 — and trust me, it’s going to be EPIC! We’re already gearing up for next year, ready to welcome more Texas entrepreneurs and give them the tools, connections, and inspiration they need to succeed as franchise owners. I can’t wait to see everyone there!”

To learn more about The Franchise Player and events, go to pl.franchiseplayer.com.


This article was originally published on : www.blackenterprise.com
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Workplace well-being declines as workers return to offices

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WORKPLACE, Bullying, return to office


As more workers are forced to return to the office and work remotely, research shows that workplace well-being is on the decline. The numbers are even lower for Black workers.

A brand new report from the Human Capital Development Lab at Johns Hopkins Carey Business School in partnership with Great Place to Work reveals that workplace well-being peaked in 2020. But the annual survey of greater than 1.5 million people at greater than 2,500 corporations measured the “climate of well-being” and found According to reports, this number has been systematically decreasing since 2020.

The decline varied by industry and a few demographics. Healthcare and retail/hospitality corporations had the bottom scores, while black, women and younger workers scored lower on well-being than white, men and older workers. Southern workers scored higher on well-being than their counterparts.

“The COVID pandemic has heightened employers’ awareness of the importance of wellness, and many top organizations have been working to create a positive work climate,” said Michelle Barton, Ph.D., assistant professor at Carey and co-author of the report. “The challenge now will be to integrate these practices into everyday work life, rather than simply as a response to the crisis.”

The researchers used five criteria to measure each company’s “climate of well-being”: financial health, meaningful connections, mental and emotional support, personal support, and a way of purpose. Employers who put money into their employees’ well-being, each financial and emotional, scored higher.

Male workers consistently reported higher workplace well-being scores than female workers, reflecting a gender pay gap that widened in 2023 for the primary time since 2020. Meanwhile, Black workers had the worst well-being between 2021 and 2023 compared with white workers, who ranked first, and Asian workers, who were the one group whose well-being matched or exceeded that of white workers over the five-year period.

Black women had the worst overall well-being compared to Asian men, who had the best well-being scores and the biggest gap compared to women.

“These significant differences underscore the continued need for organizations to address issues of equity, inclusion and belonging for all employees,” the report said.

The report found a transparent positive correlation between flexible working and improved worker well-being. Companies where 75% or more of their employees could work remotely part-time had the best well-being scores, while those where lower than 25% of employees had distant work options had the bottom scores.

“For employees, flexibility provides the means to effectively manage work-life balance while meeting personal and family needs, such as childcare and eldercare,” the report says. “For employers, it can support higher levels of employee engagement and productivity, while also fostering an atmosphere of well-being.”


This article was originally published on : www.blackenterprise.com
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