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<title>Factsdesk: Business</title>
<link>https://factsdesk.com/business/</link>
<description>Up-to-date, unbiased news with just the facts as they happen, every claim sourced, plus clearly labeled analysis, opinion and rankings.</description>
<language>en-US</language>
<lastBuildDate>Thu, 12 Nov 2026 06:27:01 GMT</lastBuildDate>
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<title>What are the VA disability rates?</title>
<link>https://factsdesk.com/business/what-are-the-va-disability-rates/</link>
<guid isPermaLink="true">https://factsdesk.com/business/what-are-the-va-disability-rates/</guid>
<pubDate>Thu, 12 Nov 2026 06:27:01 GMT</pubDate>
<dc:creator>Business Desk</dc:creator>
<category>Business</category>
<category>News</category>
<description>VA disability pay for a veteran with no dependents runs from $180.42 a month at a 10% rating to $3,938.58 at 100%, effective December 1, 2025.</description>
<content:encoded><![CDATA[<ul><li>VA disability compensation for a veteran with no dependents is $180.42 a month at a 10% rating and $3,938.58 a month at a 100% rating, under rates effective December 1, 2025.</li><li>A veteran rated 10% or 20% does not receive a higher rate for a dependent spouse, child or parent, while ratings from 30% to 100% pay more for dependents.</li><li>A veteran rated 100% with a spouse and no parents or children is paid $4,158.17 a month.</li><li>The December 1, 2025 rates applied a 2.8% increase, the same percentage as the Social Security cost-of-living increase for 2026, according to a VA notice in the Federal Register.</li><li>Under the previous rates, effective December 1, 2024, a veteran with no dependents was paid $175.51 a month at a 10% rating and $3,831.30 at a 100% rating.</li></ul><p>VA disability compensation for a veteran with no dependents runs from $180.42 a month at a 10% disability rating to $3,938.58 a month at a 100% rating. The Department of Veterans Affairs lists the amounts on its <a href="https://www.va.gov/disability/compensation-rates/veteran-rates/" rel="noopener">current rates page</a>, which says they have been in effect since December 1, 2025, and which was last updated on November 2, 2026.</p>
<h2 id="monthly-rates-by-disability-rating">Monthly rates by disability rating</h2>
<p>The amounts below come from the <a href="https://www.va.gov/disability/compensation-rates/veteran-rates/" rel="noopener">VA rate tables</a> effective December 1, 2025. The second column is a veteran alone with no dependents. The third is a veteran with a spouse and no parents or children.</p>
<div class="table-wrap"><table><thead><tr><th scope="col">Disability rating</th><th scope="col">Veteran alone</th><th scope="col">With spouse</th></tr></thead><tbody><tr><td data-label="Disability rating">10%</td><td data-label="Veteran alone">$180.42</td><td data-label="With spouse">No higher rate</td></tr><tr><td data-label="Disability rating">20%</td><td data-label="Veteran alone">$356.66</td><td data-label="With spouse">No higher rate</td></tr><tr><td data-label="Disability rating">30%</td><td data-label="Veteran alone">$552.47</td><td data-label="With spouse">$617.47</td></tr><tr><td data-label="Disability rating">40%</td><td data-label="Veteran alone">$795.84</td><td data-label="With spouse">$882.84</td></tr><tr><td data-label="Disability rating">50%</td><td data-label="Veteran alone">$1,132.90</td><td data-label="With spouse">$1,241.90</td></tr><tr><td data-label="Disability rating">60%</td><td data-label="Veteran alone">$1,435.02</td><td data-label="With spouse">$1,566.02</td></tr><tr><td data-label="Disability rating">70%</td><td data-label="Veteran alone">$1,808.45</td><td data-label="With spouse">$1,961.45</td></tr><tr><td data-label="Disability rating">80%</td><td data-label="Veteran alone">$2,102.15</td><td data-label="With spouse">$2,277.15</td></tr><tr><td data-label="Disability rating">90%</td><td data-label="Veteran alone">$2,362.30</td><td data-label="With spouse">$2,559.30</td></tr><tr><td data-label="Disability rating">100%</td><td data-label="Veteran alone">$3,938.58</td><td data-label="With spouse">$4,158.17</td></tr></tbody></table></div>
<p>The VA page says a veteran with a 10% to 20% rating &quot;won’t receive a higher rate even if you have a dependent spouse, child, or parent.&quot;</p>
<h2 id="how-dependents-change-the-amount">How dependents change the amount</h2>
<p>For ratings from 30% to 100%, the <a href="https://www.va.gov/disability/compensation-rates/veteran-rates/" rel="noopener">VA tables</a> set a basic monthly rate for each combination of spouse, children and dependent parents, and then list added amounts for each further child and for a spouse who receives Aid and Attendance benefits. The table below shows three of those rows.</p>
<div class="table-wrap"><table><thead><tr><th scope="col">Dependent status</th><th scope="col">70% rating</th><th scope="col">100% rating</th></tr></thead><tbody><tr><td data-label="Dependent status">With 1 child and spouse, no parents</td><td data-label="70% rating">$2,074.45</td><td data-label="100% rating">$4,318.99</td></tr><tr><td data-label="Dependent status">Each additional child under age 18</td><td data-label="70% rating">$76.00</td><td data-label="100% rating">$109.11</td></tr><tr><td data-label="Dependent status">Spouse receiving Aid and Attendance</td><td data-label="70% rating">$141.00</td><td data-label="100% rating">$201.41</td></tr></tbody></table></div>
<p>The VA page works through one case. A veteran with a 70% rating, a spouse and three dependent children under 18 starts at the basic rate of $2,074.45 for a spouse and one child, and adds $76 for each of the two further children. If the spouse receives Aid and Attendance, another $141 is added, and the VA gives the total as $2,367.45 a month.</p>
<h2 id="what-the-rates-were-before">What the rates were before</h2>
<p>The rates rose on December 1, 2025. Under the <a href="https://www.va.gov/disability/compensation-rates/veteran-rates/past-rates-2025/" rel="noopener">previous tables</a>, effective December 1, 2024, a veteran with no dependents was paid $175.51 a month at 10% and $3,831.30 at 100%.</p>
<h2 id="how-the-rates-are-set">How the rates are set</h2>
<p>A VA <a href="https://www.govinfo.gov/content/pkg/FR-2026-02-17/html/2026-02997.htm" rel="noopener">notice in the Federal Register</a> published February 17, 2026 said the current rates were required by the Veterans&#39; Compensation Cost-of-Living Adjustment Act of 2025, Public Law 119-42, and took effect on December 1, 2025, the date that law provided. The notice said the Social Security Administration had announced a 2.8% cost-of-living increase in Social Security benefits for 2026, and that the VA applied the same percentage.</p>
<p>The VA rates page says the department is &quot;required by law to match the percentage of cost-of-living adjustments made to Social Security benefits.&quot; The page lists no rates with an effective date later than December 1, 2025. A separate page answers <a href="/business/what-is-the-social-security-cola-for-2027/">What is the Social Security COLA for 2027?</a>.</p>
<p>This page reports the published rates and is not personal financial advice. An individual payment depends on that veteran&#39;s own rating and dependents.</p>]]></content:encoded>
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<item>
<title>Which states raise the minimum wage on January 1?</title>
<link>https://factsdesk.com/business/which-states-raise-the-minimum-wage-on-january-1/</link>
<guid isPermaLink="true">https://factsdesk.com/business/which-states-raise-the-minimum-wage-on-january-1/</guid>
<pubDate>Thu, 12 Nov 2026 06:25:43 GMT</pubDate>
<dc:creator>Business Desk</dc:creator>
<category>Business</category>
<category>News</category>
<description>Michigan, Washington, New Jersey, Vermont, South Dakota and Minnesota have higher minimum wages set for January 1, 2027. New York&#39;s rate stays the same.</description>
<content:encoded><![CDATA[<ul><li>Michigan&#39;s minimum wage is scheduled to rise from $13.73 to $15.00 per hour on January 1, 2027, according to the U.S. Department of Labor&#39;s state table updated November 5, 2026.</li><li>Washington&#39;s minimum wage will be $17.73 an hour for most workers in 2027, up from $17.13 in 2026, with the change taking effect January 1, 2027.</li><li>New Jersey&#39;s minimum wage for most workers goes from $15.92 an hour to $16.48 an hour on January 1, 2027.</li><li>Vermont&#39;s minimum wage will increase from $14.42 to $14.91 per hour beginning January 1, 2027, and its tipped minimum wage will increase from $7.21 to $7.46 per hour.</li><li>New York&#39;s general minimum wage will stay the same on January 1, 2027, at $17.00 per hour in New York City, Long Island and Westchester County and $16.00 per hour in the rest of the state.</li></ul><p>Michigan, Washington, New Jersey, Vermont, South Dakota and Minnesota each have a higher minimum wage that takes effect on January 1, 2027, according to official pages. The U.S. Department of Labor&#39;s <a href="https://www.dol.gov/agencies/whd/minimum-wage/state" rel="noopener">table of state minimum wage laws</a>, updated November 5, 2026, names one January 1, 2027 increase, Michigan&#39;s rise to $15.00 per hour, and the other five rates come from each state&#39;s own labor department.</p>
<p>This list is as of November 12, 2026, and it is not a complete count. It covers only the states whose January 1, 2027 rate is stated on an official page cited here.</p>
<h2 id="new-rates-on-january-1-2027">New rates on January 1, 2027</h2>
<div class="table-wrap"><table><thead><tr><th scope="col">State</th><th scope="col">Rate now</th><th scope="col">January 1, 2027</th></tr></thead><tbody><tr><td data-label="State">Michigan</td><td data-label="Rate now">$13.73</td><td data-label="January 1, 2027">$15.00</td></tr><tr><td data-label="State">Washington</td><td data-label="Rate now">$17.13</td><td data-label="January 1, 2027">$17.73</td></tr><tr><td data-label="State">New Jersey</td><td data-label="Rate now">$15.92</td><td data-label="January 1, 2027">$16.48</td></tr><tr><td data-label="State">Vermont</td><td data-label="Rate now">$14.42</td><td data-label="January 1, 2027">$14.91</td></tr><tr><td data-label="State">South Dakota</td><td data-label="Rate now">$11.85</td><td data-label="January 1, 2027">$12.30</td></tr><tr><td data-label="State">Minnesota</td><td data-label="Rate now">$11.41</td><td data-label="January 1, 2027">$11.87</td></tr></tbody></table></div>
<p>All rates are per hour.</p>
<ul><li><strong>Michigan.</strong> The <a href="https://www.dol.gov/agencies/whd/minimum-wage/state" rel="noopener">federal table</a> lists Michigan&#39;s basic minimum rate at $13.73 and says it is scheduled to increase to $15.00 per hour on January 1, 2027, and then be adjusted each year by a set formula.</li><li><strong>Washington.</strong> The state&#39;s <a href="https://www.lni.wa.gov/workers-rights/wages/minimum-wage/" rel="noopener">Department of Labor and Industries</a> says the 2027 minimum wage will be $17.73 an hour for most workers, up from $17.13 in 2026, and $15.07 an hour for workers who are 14 and 15 years old. The changes take effect January 1, 2027.</li><li><strong>New Jersey.</strong> The state&#39;s <a href="https://www.nj.gov/labor/wageandhour/" rel="noopener">labor department</a> says the minimum wage is $16.48 an hour for most workers effective January 1, 2027, compared with $15.92 effective January 1, 2026.</li><li><strong>Vermont.</strong> The <a href="https://labor.vermont.gov/press-release/vermont-department-labor-announces-minimum-wage-increase-starting-january-2027" rel="noopener">Vermont Department of Labor</a> announced on November 9, 2026, that the minimum wage will increase from $14.42 to $14.91 per hour beginning January 1, 2027, an increase of $0.49. The tipped minimum wage will go from $7.21 to $7.46 per hour.</li><li><strong>South Dakota.</strong> The state&#39;s <a href="https://dlr.sd.gov/employment_laws/minimum_wage.aspx" rel="noopener">Department of Labor and Regulation</a> says the minimum wage for non-tipped employees will be $12.30 an hour effective January 1, 2027, up from $11.85. The rate for tipped employees will be $6.15 an hour, up from $5.925.</li><li><strong>Minnesota.</strong> The state&#39;s <a href="https://www.dli.mn.gov/minwage" rel="noopener">Department of Labor and Industry</a> says the minimum wage will be adjusted for inflation to $11.87 an hour for all employers effective January 1, 2027, up from $11.41. The 90-day training wage for workers under age 20 will increase from $9.31 to $9.68.</li></ul>
<h2 id="new-york-s-general-rate-does-not-change">New York&#39;s general rate does not change</h2>
<p>The <a href="https://dol.ny.gov/minimum-wage" rel="noopener">New York State Department of Labor</a> says the state&#39;s minimum wage will stay the same on January 1, 2027: $17.00 per hour in New York City, Long Island and Westchester County, and $16.00 per hour in the rest of the state. The minimum wage for home care aides will increase on that date to $20.00 per hour in New York City, Long Island and Westchester County and $19.00 per hour in the rest of the state.</p>
<h2 id="why-the-list-is-not-complete">Why the list is not complete</h2>
<p>The <a href="https://www.dol.gov/agencies/whd/minimum-wage/state" rel="noopener">federal table</a> says several other states adjust their minimum wage each year by a set formula, including California, Maine, Montana, Ohio and Virginia, but it does not give their 2027 rates. Their rates are left out of this article for that reason.</p>
<p>Not every state changes its rate in January. The same table says Oregon and the District of Columbia adjust their minimum wages each year on July 1, and that Florida&#39;s minimum wage, now $15.00, is scheduled to be updated each year by formula beginning January 1, 2028.</p>
<p>The <a href="/business/what-is-the-federal-minimum-wage/">federal minimum wage</a> is covered on a separate page.</p>]]></content:encoded>
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<item>
<title>How much is the federal employee pay raise?</title>
<link>https://factsdesk.com/business/how-much-is-the-federal-employee-pay-raise/</link>
<guid isPermaLink="true">https://factsdesk.com/business/how-much-is-the-federal-employee-pay-raise/</guid>
<pubDate>Thu, 12 Nov 2026 05:24:00 GMT</pubDate>
<dc:creator>Business Desk</dc:creator>
<category>Business</category>
<category>News</category>
<description>Federal employees under the General Schedule get no pay raise in January 2027 under the president&#39;s plan. The raise in effect for 2026 is 1.0 percent.</description>
<content:encoded><![CDATA[<ul><li>The president&#39;s alternative pay plan sets the 2027 pay adjustment at zero for civilian federal employees under the General Schedule and certain other pay systems, with base and locality pay unchanged.</li><li>The raise in effect for 2026 is a 1.0 percent across-the-board increase for the General Schedule and other statutory pay systems, with locality percentages held at 2025 levels.</li><li>The Office of Personnel Management said it intends to apply a 3.8 percent total increase to its 2026 special rate tables for law enforcement personnel, with a tentative effective date of January 10, 2027.</li><li>Without the alternative plan, the president&#39;s letter said, General Schedule base pay would have risen 3.1 percent across the board and locality pay by an average of 20.6 percent in January 2027.</li><li>The 2026 pay schedules took effect on January 11, 2026, the first day of the first pay period beginning on or after January 1, 2026.</li></ul><p>Civilian federal employees covered by the General Schedule and certain other pay systems are set to receive no pay raise in January 2027, because the president&#39;s <a href="https://www.govinfo.gov/content/pkg/CDOC-119hdoc189/html/CDOC-119hdoc189.htm" rel="noopener">alternative pay plan</a>, sent to Congress in a letter dated August 26, 2026, says base pay and locality pay will not change from the 2026 rates. The raise in effect now is the 1.0 percent across-the-board increase for 2026, which the Office of Personnel Management described in its <a href="https://www.opm.gov/chcoc/latest-memos/january-2026-pay-adjustments.pdf" rel="noopener">memorandum on January 2026 pay adjustments</a>.</p>
<h2 id="the-raise-by-year">The raise by year</h2>
<div class="table-wrap"><table><thead><tr><th scope="col">Year</th><th scope="col">Base pay raise</th><th scope="col">Locality pay</th></tr></thead><tbody><tr><td data-label="Year">2026 (in effect)</td><td data-label="Base pay raise">1.0 percent</td><td data-label="Locality pay">Held at 2025 levels</td></tr><tr><td data-label="Year">2027 (president&#39;s plan)</td><td data-label="Base pay raise">None</td><td data-label="Locality pay">Held at 2026 rates</td></tr></tbody></table></div>
<p>The 2026 row comes from the <a href="https://www.opm.gov/chcoc/latest-memos/january-2026-pay-adjustments.pdf" rel="noopener">personnel office&#39;s memorandum</a> of December 18, 2025, and the 2027 row comes from the <a href="https://www.govinfo.gov/content/pkg/CDOC-119hdoc189/html/CDOC-119hdoc189.htm" rel="noopener">president&#39;s letter</a> of August 26, 2026.</p>
<h2 id="what-the-plan-for-2027-says">What the plan for 2027 says</h2>
<p>The <a href="https://www.govinfo.gov/content/pkg/CDOC-119hdoc189/html/CDOC-119hdoc189.htm" rel="noopener">president&#39;s letter</a> to Congress set the alternative pay adjustments for 2027 under two sections of federal pay law, 5 U.S.C. 5303(b) and 5 U.S.C. 5304a. It was referred to two House committees on August 27, 2026, and printed as House Document 119-189.</p>
<p>The letter said that without the alternative plan, locality pay would have increased by an average of 20.6 percent in January 2027, at a cost of $26 billion in the first year, and base General Schedule pay would have risen by a further 3.1 percent across the board. Under the plan, both stay where they are in 2026.</p>
<h2 id="the-3-8-percent-increase-for-law-enforcement">The 3.8 percent increase for law enforcement</h2>
<p>Law enforcement personnel are treated separately. The Office of Personnel Management said on its page about <a href="https://www.opm.gov/policy-data-oversight/pay-leave/2027-special-rates-for-certain-law-enforcement-personnel/" rel="noopener">2027 special rates</a> that the president decided to freeze 2027 base and locality rates and to provide a pay increase of 3.8 percent for law enforcement personnel.</p>
<p>The office said it intends to apply a 3.8 percent total increase to the special rate tables it established for 2026, with a tentative effective date of January 10, 2027. It said employees near the pay cap may receive less than 3.8 percent, that employees covered by the special rate tables set for 2026 will stay covered in 2027, and that it expects to release the new special rate tables by the end of the calendar year.</p>
<h2 id="what-the-2026-raise-was">What the 2026 raise was</h2>
<p>The <a href="https://www.opm.gov/chcoc/latest-memos/january-2026-pay-adjustments.pdf" rel="noopener">memorandum on January 2026 pay adjustments</a> said an executive order authorized a 1.0 percent across-the-board increase for the statutory pay systems and kept locality percentages at 2025 levels. Those systems are the General Schedule, the Foreign Service schedule and certain schedules for the Veterans Health Administration. The 2026 pay schedules took effect on January 11, 2026, which was the first day of the first pay period beginning on or after January 1.</p>
<p>The office&#39;s <a href="https://www.opm.gov/policy-data-oversight/pay-leave/salaries-wages/salary-tables/26Tables/html/GS.aspx" rel="noopener">base General Schedule table for 2026</a>, which carries the 1 percent increase, shows these annual rates.</p>
<div class="table-wrap"><table><thead><tr><th scope="col">Grade and step</th><th scope="col">2026 base rate</th></tr></thead><tbody><tr><td data-label="Grade and step">GS-1, step 1</td><td data-label="2026 base rate">$22,584</td></tr><tr><td data-label="Grade and step">GS-7, step 1</td><td data-label="2026 base rate">$43,106</td></tr><tr><td data-label="Grade and step">GS-15, step 10</td><td data-label="2026 base rate">$164,301</td></tr></tbody></table></div>
<p>The office posts the base table and a separate table for each locality pay area through its <a href="https://www.opm.gov/policy-data-oversight/pay-leave/salaries-wages/" rel="noopener">salaries and wages page</a>.</p>
<h2 id="related-pages">Related pages</h2>
<ul><li><a href="/politics/will-the-government-shut-down-on-december-11/">Will the government shut down on December 11?</a></li><li><a href="/business/what-is-the-social-security-cola-for-2027/">What is the Social Security COLA for 2027?</a></li><li><a href="/business/what-is-the-federal-minimum-wage/">What is the federal minimum wage?</a></li></ul>
<p>This page will be updated at this address when the 2027 pay tables are published.</p>]]></content:encoded>
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<item>
<title>What is the national debt?</title>
<link>https://factsdesk.com/business/what-is-the-national-debt/</link>
<guid isPermaLink="true">https://factsdesk.com/business/what-is-the-national-debt/</guid>
<pubDate>Thu, 12 Nov 2026 04:29:31 GMT</pubDate>
<dc:creator>Business Desk</dc:creator>
<category>Business</category>
<category>Data</category>
<description>The total U.S. public debt outstanding from the Treasury&#39;s Debt to the Penny data, with debt held by the public and intragovernmental holdings.</description>
<content:encoded><![CDATA[<ul><li>The total public debt outstanding was $40.56 trillion on Nov 9, 2026, according to the Treasury&#39;s Debt to the Penny data.</li><li>Of that, $32.76 trillion was debt held by the public and $7.80 trillion was intragovernmental holdings.</li><li>That was $7,045,570,150.76 more than the total on Nov 6, 2026, the prior day with data.</li><li>The Treasury reports the total outstanding debt of the U.S. government daily in its Debt to the Penny data.</li></ul><p>The key facts at the top give the total public debt outstanding on the latest day the Treasury reports, and the table lists the last 10 days with data, newest first.</p>
<h2 id="the-two-parts-of-the-debt">The two parts of the debt</h2>
<p>The Treasury splits the total into two parts. Debt held by the public is federal debt held by entities outside the U.S. government. Intragovernmental holdings are federal debt held by the U.S. government itself, in its own accounts.</p>
<h2 id="when-it-updates">When it updates</h2>
<p>The Treasury reports the debt daily in its Debt to the Penny data, which has a row only for business days. This page reads that data every few hours and updates at the same address.</p>]]></content:encoded>
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<item>
<title>What is the federal minimum wage?</title>
<link>https://factsdesk.com/business/what-is-the-federal-minimum-wage/</link>
<guid isPermaLink="true">https://factsdesk.com/business/what-is-the-federal-minimum-wage/</guid>
<pubDate>Thu, 12 Nov 2026 03:27:12 GMT</pubDate>
<dc:creator>Business Desk</dc:creator>
<category>Business</category>
<category>Explainer</category>
<description>The federal minimum wage is $7.25 an hour, in effect since July 24, 2009. Workers covered by a higher state rate are entitled to the higher one.</description>
<content:encoded><![CDATA[<ul><li>The federal minimum wage is $7.25 per hour, effective July 24, 2009, according to the U.S. Department of Labor.</li><li>An employee who is subject to both a state and the federal minimum wage law is entitled to the higher of the two rates.</li><li>An employer must pay a tipped worker a cash wage of at least $2.13 per hour and must make up the difference if tips do not bring the total to $7.25 per hour.</li><li>Employees under age 20 may be paid not less than $4.25 for their first 90 consecutive calendar days of employment, as long as they do not displace other workers.</li><li>The 2007 amendments raised the federal minimum wage in three steps: $5.85 on July 24, 2007, $6.55 on July 24, 2008, and $7.25 on July 24, 2009.</li></ul><p>The federal minimum wage is $7.25 per hour, effective July 24, 2009, according to the <a href="https://www.dol.gov/agencies/whd/minimum-wage" rel="noopener">Wage and Hour Division</a> of the U.S. Department of Labor. The rate applies to covered nonexempt employees, and the federal minimum wage provisions are contained in the Fair Labor Standards Act, the department <a href="https://www.dol.gov/general/topic/wages/minimumwage" rel="noopener">says</a>.</p>
<h2 id="federal-rates-at-a-glance">Federal rates at a glance</h2>
<div class="table-wrap"><table><thead><tr><th scope="col">Rate</th><th scope="col">Amount</th><th scope="col">Who it applies to</th></tr></thead><tbody><tr><td data-label="Rate">Federal minimum wage</td><td data-label="Amount">$7.25</td><td data-label="Who it applies to">Covered nonexempt employees</td></tr><tr><td data-label="Rate">Minimum cash wage for tipped employees</td><td data-label="Amount">$2.13</td><td data-label="Who it applies to">Employees who receive more than $30 a month in tips</td></tr><tr><td data-label="Rate">Youth minimum wage</td><td data-label="Amount">$4.25</td><td data-label="Who it applies to">Employees under age 20, for their first 90 consecutive calendar days of employment</td></tr></tbody></table></div>
<p>The standard and youth rates are stated on the department&#39;s <a href="https://www.dol.gov/general/topic/wages/minimumwage" rel="noopener">minimum wage page</a>, and the tipped rate is stated in its <a href="https://www.dol.gov/agencies/whd/fact-sheets/15-tipped-employees-flsa" rel="noopener">fact sheet on tipped employees</a>.</p>
<h2 id="how-state-minimum-wages-interact-with-the-federal-rate">How state minimum wages interact with the federal rate</h2>
<p>Many states also have minimum wage laws. When an employee is subject to both the state and the federal law, the employee is entitled to the higher of the two minimum wages, the department <a href="https://www.dol.gov/general/topic/wages/minimumwage" rel="noopener">says</a>. That is why the pay floor in a given state can be higher than $7.25.</p>
<p>The department&#39;s <a href="https://www.dol.gov/agencies/whd/minimum-wage/state" rel="noopener">table of state minimum wage laws</a>, updated November 5, 2026, lists Alabama, Louisiana, Mississippi, South Carolina and Tennessee as having no state minimum wage law. In those states, employers subject to the Fair Labor Standards Act must pay the federal minimum wage of $7.25 per hour. The same table notes that some local governments set minimum wage rates higher than their state&#39;s rate, and that those local rates are not shown in it.</p>
<h2 id="the-rate-for-tipped-workers">The rate for tipped workers</h2>
<p>An employer must pay a tipped worker a cash wage of at least $2.13 per hour under the Fair Labor Standards Act, according to the department&#39;s <a href="https://www.dol.gov/agencies/whd/fact-sheets/15-tipped-employees-flsa" rel="noopener">fact sheet on tipped employees</a>. A tipped employee is one who customarily and regularly receives more than $30 a month in tips. The law lets the employer count tips toward the rest of the minimum wage, which is called a tip credit, and the department&#39;s <a href="https://www.dol.gov/agencies/whd/state/minimum-wage/tipped" rel="noopener">table of tipped wages</a> puts the maximum federal tip credit at $5.12 per hour.</p>
<p>The total still has to reach the full minimum. If an employee&#39;s tips combined with the employer&#39;s cash wage do not equal $7.25 per hour in each workweek, the employer must make up the difference.</p>
<h2 id="the-youth-minimum-wage">The youth minimum wage</h2>
<p>Employees under age 20 may be paid a minimum wage of not less than $4.25 for their first 90 consecutive calendar days of employment, as long as their employment does not displace other workers, the department <a href="https://www.dol.gov/general/topic/wages/minimumwage" rel="noopener">says</a>.</p>
<h2 id="when-the-rate-last-changed">When the rate last changed</h2>
<p>The current rate came from the 2007 amendments to the law, which raised the minimum wage in three steps, according to the department&#39;s <a href="https://www.dol.gov/agencies/whd/minimum-wage/history" rel="noopener">history of the minimum wage law</a>.</p>
<div class="table-wrap"><table><thead><tr><th scope="col">Effective date</th><th scope="col">Rate per hour</th></tr></thead><tbody><tr><td data-label="Effective date">July 24, 2007</td><td data-label="Rate per hour">$5.85</td></tr><tr><td data-label="Effective date">July 24, 2008</td><td data-label="Rate per hour">$6.55</td></tr><tr><td data-label="Effective date">July 24, 2009</td><td data-label="Rate per hour">$7.25</td></tr></tbody></table></div>
<p>For what workers earn on average, see <a href="/business/when-is-the-next-jobs-report/">when the next jobs report is due</a>, which carries the latest average hourly earnings. For how fast prices are changing, see <a href="/business/what-is-the-inflation-rate-right-now/">the current inflation rate</a>.</p>]]></content:encoded>
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<title>What is the 401(k) contribution limit for 2026?</title>
<link>https://factsdesk.com/business/what-is-the-401-k-contribution-limit-for-2026/</link>
<guid isPermaLink="true">https://factsdesk.com/business/what-is-the-401-k-contribution-limit-for-2026/</guid>
<pubDate>Thu, 12 Nov 2026 03:27:09 GMT</pubDate>
<dc:creator>Business Desk</dc:creator>
<category>Business</category>
<category>Explainer</category>
<description>The 401(k) contribution limit for 2026 is $24,500, up from $23,500 for 2025, the IRS said. The catch-up limit for workers 50 and over is $8,000.</description>
<content:encoded><![CDATA[<ul><li>The 401(k) contribution limit for employees is $24,500 for 2026, up from $23,500 for 2025, the Internal Revenue Service said.</li><li>The catch-up contribution limit for employees aged 50 and over in most 401(k) plans is $8,000 for 2026, up from $7,500 for 2025.</li><li>A higher catch-up contribution limit of $11,250 applies for 2026 to employees aged 60, 61, 62 and 63.</li><li>The limit on annual contributions to an IRA is $7,500 for 2026, up from $7,000, and the IRA catch-up limit for people aged 50 and over is $1,100.</li></ul><p>The 401(k) contribution limit for 2026 is $24,500, up from $23,500 for 2025, the Internal Revenue Service said in a <a href="https://www.irs.gov/newsroom/401k-limit-increases-to-24500-for-2026-ira-limit-increases-to-7500" rel="noopener">news release</a> on November 13, 2025. The same annual limit applies to employees who participate in 403(b) plans, governmental 457 plans and the federal government&#39;s Thrift Savings Plan.</p>
<h2 id="the-2026-limits">The 2026 limits</h2>
<p>The figures below come from the <a href="https://www.irs.gov/newsroom/401k-limit-increases-to-24500-for-2026-ira-limit-increases-to-7500" rel="noopener">IRS release</a>, which the agency numbered IR-2025-111 and which cites Notice 2025-67.</p>
<div class="table-wrap"><table><thead><tr><th scope="col">Limit</th><th scope="col">2026</th><th scope="col">2025</th></tr></thead><tbody><tr><td data-label="Limit">Employee contributions to a 401(k)</td><td data-label="2026">$24,500</td><td data-label="2025">$23,500</td></tr><tr><td data-label="Limit">Catch-up, aged 50 and over</td><td data-label="2026">$8,000</td><td data-label="2025">$7,500</td></tr><tr><td data-label="Limit">Annual contributions to an IRA</td><td data-label="2026">$7,500</td><td data-label="2025">$7,000</td></tr><tr><td data-label="Limit">IRA catch-up, aged 50 and over</td><td data-label="2026">$1,100</td><td data-label="2025">$1,000</td></tr></tbody></table></div>
<p>The IRS <a href="https://www.irs.gov/retirement-plans/cola-increases-for-dollar-limitations-on-benefits-and-contributions" rel="noopener">table of yearly limits</a> lists the same four figures for 2026 and 2025.</p>
<h2 id="catch-up-contributions-for-older-workers">Catch-up contributions for older workers</h2>
<p>The catch-up contribution limit that generally applies to employees aged 50 and over in most 401(k) plans is $8,000 for 2026, according to the <a href="https://www.irs.gov/newsroom/401k-limit-increases-to-24500-for-2026-ira-limit-increases-to-7500" rel="noopener">release</a>. The IRS said participants in those plans who are 50 and older generally can contribute up to $32,500 each year, starting in 2026.</p>
<p>A higher catch-up limit applies to employees aged 60, 61, 62 and 63 under a change made in the SECURE 2.0 Act of 2022. For 2026 that higher limit remains $11,250 instead of $8,000, the <a href="https://www.irs.gov/newsroom/401k-limit-increases-to-24500-for-2026-ira-limit-increases-to-7500" rel="noopener">release</a> said. The IRS page on <a href="https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-401k-and-profit-sharing-plan-contribution-limits" rel="noopener">401(k) contribution limits</a> gives the same $24,500, $8,000 and $11,250 figures for 2026.</p>
<h2 id="the-ira-limit">The IRA limit</h2>
<p>The limit on annual contributions to an IRA is $7,500 for 2026, up from $7,000, the <a href="https://www.irs.gov/newsroom/401k-limit-increases-to-24500-for-2026-ira-limit-increases-to-7500" rel="noopener">release</a> said. The IRA catch-up contribution limit for people aged 50 and over is $1,100 for 2026, up from $1,000 for 2025. The IRS said that catch-up limit was amended under SECURE 2.0 to include an annual cost-of-living adjustment.</p>
<p>For another yearly adjustment, see <a href="/business/what-is-the-social-security-cola-for-2027/">What is the Social Security COLA for 2027?</a></p>]]></content:encoded>
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<title>What is the inflation rate right now?</title>
<link>https://factsdesk.com/business/what-is-the-inflation-rate-right-now/</link>
<guid isPermaLink="true">https://factsdesk.com/business/what-is-the-inflation-rate-right-now/</guid>
<pubDate>Wed, 11 Nov 2026 17:55:00 GMT</pubDate>
<dc:creator>Business Desk</dc:creator>
<category>Business</category>
<category>News</category>
<description>The latest official 12-month inflation rate is 3.7 percent, for September 2026. Prices rose 0.4 percent in October, with no 12-month rate published.</description>
<content:encoded><![CDATA[<ul><li>The latest official 12-month inflation rate is 3.7 percent, for September 2026; prices rose 0.4 percent in October, a month for which no 12-month rate was published.</li><li>The bureau published no 12-month change for October 2026, because it did not collect survey data for October 2025 during a lapse in appropriations.</li><li>Consumer prices rose 0.4 percent in October 2026 on a seasonally adjusted basis, after rising 0.6 percent in September, the Bureau of Labor Statistics reported on November 10, 2026.</li><li>Prices excluding food and energy rose 0.3 percent in October, the same monthly pace as in September and August.</li><li>The November 2026 Consumer Price Index is scheduled for release on December 10, 2026, at 8:30 a.m. Eastern time.</li></ul><p>The latest official 12-month inflation rate is 3.7 percent, for September 2026; prices rose 0.4 percent in October, a month for which no 12-month rate was published. The usual answer to this question is a single number, how much prices rose over the past 12 months, and for October 2026 that number does not exist, so the answer has two parts.</p>
<h2 id="the-monthly-change">The monthly change</h2>
<p>The Consumer Price Index for All Urban Consumers rose 0.4 percent in October on a seasonally adjusted basis, after a 0.6 percent rise in September, according to the <a href="https://www.bls.gov/news.release/cpi.nr0.htm" rel="noopener">Bureau of Labor Statistics release</a> of November 10, 2026.</p>
<div class="table-wrap"><table><thead><tr><th scope="col">Category</th><th scope="col">Change in October 2026</th></tr></thead><tbody><tr><td data-label="Category">All items</td><td data-label="Change in October 2026">+0.4%</td></tr><tr><td data-label="Category">All items less food and energy</td><td data-label="Change in October 2026">+0.3%</td></tr><tr><td data-label="Category">Shelter</td><td data-label="Change in October 2026">+0.3%</td></tr><tr><td data-label="Category">Food</td><td data-label="Change in October 2026">+0.5%</td></tr><tr><td data-label="Category">Energy</td><td data-label="Change in October 2026">+0.7%</td></tr><tr><td data-label="Category">Gasoline</td><td data-label="Change in October 2026">+1.0%</td></tr><tr><td data-label="Category">Used cars and trucks</td><td data-label="Change in October 2026">-1.2%</td></tr></tbody></table></div>
<p>The bureau said shelter accounted for over thirty percent of the monthly increase in the all items index.</p>
<h2 id="why-there-is-no-12-month-rate-for-october">Why there is no 12-month rate for October</h2>
<p>The release states: &quot;BLS did not collect survey data for October 2025 because of a lapse in appropriations.&quot; Without an October 2025 index there is nothing to compare October 2026 with, and the bureau said it cannot publish 12-month percent changes for October 2026 for the indexes where the October 2025 data are unavailable.</p>
<h2 id="the-latest-12-month-rate">The latest 12-month rate</h2>
<p>The most recent published 12-month figure comes from the <a href="https://www.bls.gov/news.release/archives/cpi_10142026.htm" rel="noopener">September report</a>. The all items index rose 3.7 percent over the 12 months ending in September 2026, up from 3.4 percent for the 12 months ending in August. Excluding food and energy, prices rose 2.6 percent over the same 12 months.</p>
<h2 id="when-the-next-number-comes">When the next number comes</h2>
<p>The <a href="https://www.bls.gov/schedule/news_release/cpi.htm" rel="noopener">release schedule</a> lists the November 2026 report for December 10, 2026, at 8:30 a.m. Eastern time. This page will be updated on this address when it is published.</p>]]></content:encoded>
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<title>What is the Social Security COLA for 2027?</title>
<link>https://factsdesk.com/business/what-is-the-social-security-cola-for-2027/</link>
<guid isPermaLink="true">https://factsdesk.com/business/what-is-the-social-security-cola-for-2027/</guid>
<pubDate>Wed, 11 Nov 2026 17:55:00 GMT</pubDate>
<dc:creator>Business Desk</dc:creator>
<category>Business</category>
<category>News</category>
<description>The Social Security cost-of-living increase for 2027 is 3.6 percent. See when it is paid, the new SSI maximums and the 2027 taxable earnings cap.</description>
<content:encoded><![CDATA[<ul><li>The Social Security cost-of-living increase for 2027 is 3.6 percent, according to the Social Security Administration notice published in the Federal Register on October 26, 2026.</li><li>The increase applies to benefits for December 2026, which are payable in January 2027.</li><li>The maximum federal Supplemental Security Income payment for 2027 will be $1,029 a month for an eligible individual and $1,544 for an eligible individual with an eligible spouse.</li><li>Earnings up to $192,300 will be subject to the Social Security payroll tax in 2027.</li><li>The 3.6 percent figure is the rise in the Consumer Price Index for Urban Wage Earners and Clerical Workers from the third quarter of 2025 to the third quarter of 2026.</li></ul><p>The cost-of-living increase for 2027 is 3.6 percent. The Social Security Administration set out the figure, and the other amounts that move with it, in a <a href="https://www.federalregister.gov/documents/full_text/text/2026/10/26/2026-21796.txt" rel="noopener">notice in the Federal Register</a> dated October 26, 2026.</p>
<h2 id="when-the-larger-payments-arrive">When the larger payments arrive</h2>
<p>The notice says Social Security benefits &quot;will increase by 3.6 percent for individuals eligible for December 2026 benefits, payable in January 2027 and thereafter.&quot; Federal Supplemental Security Income rates rise by the same 3.6 percent for January 2027, and the notice says that payment is made on December 31, 2026.</p>
<h2 id="other-amounts-that-change-in-2027">Other amounts that change in 2027</h2>
<div class="table-wrap"><table><thead><tr><th scope="col">Item</th><th scope="col">2027 amount</th></tr></thead><tbody><tr><td data-label="Item">Maximum federal SSI payment, individual</td><td data-label="2027 amount">$1,029 a month</td></tr><tr><td data-label="Item">Maximum federal SSI payment, individual with an eligible spouse</td><td data-label="2027 amount">$1,544 a month</td></tr><tr><td data-label="Item">Earnings subject to the Social Security payroll tax</td><td data-label="2027 amount">$192,300</td></tr><tr><td data-label="Item">Earnings needed for one quarter of coverage</td><td data-label="2027 amount">$1,970</td></tr><tr><td data-label="Item">Monthly earnings test exempt amount, before the year of normal retirement age</td><td data-label="2027 amount">$2,130</td></tr><tr><td data-label="Item">Monthly earnings test exempt amount, in the year of normal retirement age</td><td data-label="2027 amount">$5,660</td></tr></tbody></table></div>
<h2 id="how-the-3-6-percent-is-calculated">How the 3.6 percent is calculated</h2>
<p>The law ties the increase to one price index, the Consumer Price Index for Urban Wage Earners and Clerical Workers, which the Bureau of Labor Statistics publishes. The administration compares the average of that index in the third quarter of the current year with the average in the last third quarter that produced an increase. For 2027, that comparison runs from the third quarter of 2025 to the third quarter of 2026, and the notice puts the rise at 3.6 percent after rounding to the nearest tenth.</p>
<p>Because the comparison stops in September, later price reports do not change the 2027 figure. The <a href="https://www.bls.gov/news.release/cpi.nr0.htm" rel="noopener">October report</a> put the same index at 331.147.</p>
<p>This page reports the published figures and is not personal financial advice. An individual benefit amount depends on that person&#39;s own earnings record.</p>]]></content:encoded>
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<title>When is the next jobs report?</title>
<link>https://factsdesk.com/business/when-is-the-next-jobs-report/</link>
<guid isPermaLink="true">https://factsdesk.com/business/when-is-the-next-jobs-report/</guid>
<pubDate>Wed, 11 Nov 2026 17:55:00 GMT</pubDate>
<dc:creator>Business Desk</dc:creator>
<category>Business</category>
<category>Explainer</category>
<description>The next jobs report is due Friday, December 4, 2026, at 8:30 a.m. Eastern. In October, employers added 165,000 jobs and unemployment was 4.1 percent.</description>
<content:encoded><![CDATA[<ul><li>The next jobs report, covering November 2026, is scheduled for Friday, December 4, 2026, at 8:30 a.m. Eastern time.</li><li>In the latest report, total nonfarm payroll employment rose by 165,000 in October 2026 and the unemployment rate was 4.1 percent.</li><li>Revisions raised the combined job gains for August and September 2026 by 84,000.</li><li>Average hourly earnings for private-sector employees rose 14 cents in October to $38.00, a 3.1 percent increase over 12 months.</li><li>The report after that, covering December 2026, is scheduled for January 8, 2027.</li></ul><p>The next jobs report covers November 2026 and is <a href="https://www.bls.gov/schedule/news_release/empsit.htm" rel="noopener">scheduled</a> for Friday, December 4, 2026, at 8:30 a.m. Eastern time. The jobs report is the common name for the Employment Situation, a monthly release from the Bureau of Labor Statistics.</p>
<h2 id="upcoming-release-dates">Upcoming release dates</h2>
<div class="table-wrap"><table><thead><tr><th scope="col">Month covered</th><th scope="col">Release date</th><th scope="col">Time (Eastern)</th></tr></thead><tbody><tr><td data-label="Month covered">November 2026</td><td data-label="Release date">December 4, 2026</td><td data-label="Time (Eastern)">8:30 a.m.</td></tr><tr><td data-label="Month covered">December 2026</td><td data-label="Release date">January 8, 2027</td><td data-label="Time (Eastern)">8:30 a.m.</td></tr></tbody></table></div>
<h2 id="what-the-latest-report-showed">What the latest report showed</h2>
<p>The <a href="https://www.bls.gov/news.release/empsit.nr0.htm" rel="noopener">October report</a>, published on November 6, 2026, is the baseline for the next one.</p>
<ul><li>Total nonfarm payroll employment rose by 165,000. The bureau said that was higher than the average monthly gain of 48,000 over the prior 12 months.</li><li>The unemployment rate was 4.1 percent, and 7.1 million people were unemployed. The bureau said the rate has stayed between 4.1 percent and 4.3 percent since March.</li><li>Employment rose in professional and business services (70,000), health care (42,000) and transportation and warehousing (25,000).</li><li>Average hourly earnings for all employees on private nonfarm payrolls rose 14 cents, or 0.4 percent, to $38.00, and were up 3.1 percent over 12 months.</li><li>The August gain was revised up by 53,000 to 186,000 and the September gain was revised up by 31,000 to 60,000, which together added 84,000 jobs to the earlier estimates.</li></ul>
<h2 id="how-the-report-is-built">How the report is built</h2>
<p>The release combines two surveys. The household survey produces the unemployment rate and other measures of the labor force. The establishment survey counts jobs, hours and earnings on employer payrolls. The two can move differently in a single month because they measure different things, and the job counts for earlier months are revised as more employers respond, as the October report did for August and September.</p>
<p>This page will be updated at this address when the November report is published on December 4.</p>]]></content:encoded>
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<title>What is the average price of gas this week?</title>
<link>https://factsdesk.com/business/what-is-the-average-price-of-gas-this-week/</link>
<guid isPermaLink="true">https://factsdesk.com/business/what-is-the-average-price-of-gas-this-week/</guid>
<pubDate>Wed, 11 Nov 2026 05:55:34 GMT</pubDate>
<dc:creator>Business Desk</dc:creator>
<category>Business</category>
<category>Data</category>
<description>The U.S. average price of regular gasoline from the weekly EIA survey, with regions, states and cities and the change from last week and last year.</description>
<content:encoded><![CDATA[<ul><li>The U.S. average price of regular gasoline was $3.995 a gallon on Nov 9, 2026, down $0.158 from a week earlier.</li><li>That is $0.939 higher than a year earlier.</li><li>Among the 9 states EIA lists, California was highest at $5.562 and Texas was lowest at $3.408.</li><li>EIA publishes these prices once a week, with Monday prices released on Tuesday.</li></ul><p>The table above shows the average retail price of regular gasoline from the U.S. Energy Information Administration, the statistical agency of the Department of Energy. The key facts at the top state the national average in a sentence.</p>
<h2 id="what-the-table-covers">What the table covers</h2>
<p>The agency publishes a weekly price for the nation, for its regions and for a short list of states and cities. It does not publish a weekly price for every state, so a state that is missing from the table is missing from the source as well. The region names carry the agency&#39;s own labels, such as PADD 1 for the East Coast, which are the districts it uses to report petroleum data.</p>
<h2 id="how-to-read-the-changes">How to read the changes</h2>
<p>Each price is the average for the Monday shown in the line under the key facts. One column compares it with the Monday before, and the other compares it with the same week a year earlier. All prices are in dollars per gallon, including taxes, for regular grade.</p>
<h2 id="when-it-updates">When it updates</h2>
<p>The agency usually releases Monday&#39;s prices on Tuesday, and its page states the date of the next release. This page is updated at the same address after each release.</p>
<h2 id="do-not-mix-surveys">Do not mix surveys</h2>
<p>Other organizations publish daily gas prices from their own surveys, and their numbers differ from these. Every figure on this page comes from the federal weekly survey, so the areas and weeks here can be compared with each other but not with a price quoted from another survey.</p>]]></content:encoded>
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