There's a word economists are using to describe the job market right now: "chilled." As in, the Iran war just made an already slow market even slower. Hiring is at its lowest rate in over a decade.
People aren't quitting. Companies aren't growing headcount. And if you're trying to get in (or get out) you're basically negotiating with a glacier. Here's what that means for your money this week.
Here’s what’s inside:
Did you know…?
How many times can you fold a dollar bill before it tears?
(Actual answer at the end of the newsletter 👇)
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The job market is frozen (and the Iran war just made it colder)
Hiring is at a 13-year low, nobody's quitting, and economists say the conflict is making employers even more reluctant to commit. If you have a job right now, don't leave it without something confirmed in writing.
Source📌 Pay attention
Getting paid early sounds like a win. The fees can quietly make it expensive.
Early wage access is now more popular than 401(k) enrollment at some major employers… but the "free" version is rarely the default, and the fees can translate to triple-digit APRs.
Source👀 Keep an eye
ADHD may be costing you more than you realize
Missed bills, forgotten subscriptions, impulse purchases… the cumulative financial cost of ADHD patterns adds up to thousands a year.
Source👌 Looking Up
People are still buying homes. Here's actually how.
Rates are up, prices are stubborn, and the median first-time buyer is now 40. But the door isn't shut, it's just heavier. Here's the playbook buyers are actually using right now.
SourceThe Panic Meter reflects our editorial read on urgency — not financial advice.
The frozen job market
Before the Iran war started, the job market already had a problem. Hiring was at its lowest rate since 2013. Workers who wanted to switch jobs (for more pay, a better manager, a different city) were finding themselves stuck. Economists described it as the "Great Hesitation": companies too uncertain to commit to a new hire unless a candidate was a perfect fit.
Then oil prices spiked 30% in a month. Inflation expectations went back up. And the businesses that were already hesitating got even more hesitant.
This isn't abstract. It means that if you're employed right now, your leverage is lower than it looks. Switching jobs has a real risk cost attached to it. If you're searching, the timeline is genuinely longer than it's been in years. And it’s not because of you, but because the market itself is moving slowly.
So what do you actually do with this?
If you're employed: Planning to jump to another company? Don't leave without a written offer in hand. A frozen market has no urgency to follow through on promises.
If you're searching: Build a longer runway into your plan. If you were expecting 2–3 months to find something, budget for 4–6. And seriously look at skilled trades if you're open to it. That's one of the only sectors actively competing for people right now.
If you're just starting out: This is genuinely hard. The entry-level market is one of the worst-hit segments. Your best move is to be in motion (courses, certifications, freelance work, anything that builds your story) while you wait for the market to thaw.
Navigating this job market? Let’s keep your finances secure.
AI skills to learn
@startdoingwell skills to nurture in the AI era #careertips #careertiktok #careerchange #careerhacks #jobmarket
By the numbers
$100,000
What some couples are now collecting annually from Social Security (and why a proposal wants to cap it)
Most people assume Social Security is a modest safety net. For the highest earners who waited until 70 to claim, it's paying out over $100K a year as a couple. A new proposal from a nonpartisan budget think tank wants to put a hard cap on that, arguing a program designed to keep people out of poverty probably shouldn't be paying six figures to people who don't need it. Whether or not that cap passes, it opens a bigger conversation: Social Security's trust fund is on track to run dry by 2032, and a 24% automatic benefit cut kicks in if Congress doesn't act.
29%
Americans who say gambling is morally wrong (the lowest of any country surveyed)
25 countries were surveyed on whether gambling was morally unacceptable. The U.S. came in near the bottom, and half of Americans don't even consider it a moral issue at all. As sports betting becomes faster, easier, and more embedded in everyday life, the financial risk tends to get underestimated. You don't have to think gambling is wrong to notice that it's increasingly engineered to be expensive.
90 days
How long student loan borrowers on the SAVE plan have to switch or face the most expensive repayment option by default
The SAVE plan (the most affordable income-driven repayment option available) was struck down by a federal court in March. Starting July 1, loan servicers will begin issuing formal 90-day notices to the 7.5 million borrowers still enrolled. Miss the deadline and you're automatically moved to the standard repayment plan. For the nearly half of SAVE enrollees who had $0 monthly payments, that could mean hundreds of dollars in new bills starting as early as fall. Don't wait for the letter. Go to StudentAid.gov now and pick a plan.
Need to talk numbers? We can help you sort out your money.
Poll answer
4,000 times
A bank note can withstand about 4,000 folds back and forth before it finally tears. That's because bills aren't actually paper. They're actually 75% cotton and 25% linen, making them significantly more durable than anything in your printer.