GO in the Know: US Workers Quitting at Record High & Top Financial News for May 3

GO in the Know
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Today is Teacher Appreciation Day, so be sure to thank those who do their best to prepare your children for their futures, or perhaps contact a former favorite teacher of yours and let them know how much they meant to you. That sounds nice, right? OK, now here’s our Tuesday roundup of financial stories you need to know.

The Big Lead: JOLTS Report

Both the number of job openings and the number of Americans who quit their jobs were at record highs in March, according to the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) report. The report showed that the number of job openings was at a series high of 11.5 million for the month.

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Business Spotlight: Kohl’s

If you shop at Kohl’s, here’s some good news: The retailer on Monday announced that members of its rewards program will earn an elevated rate of 7.5% Kohl’s Rewards on every purchase they make with a Kohl’s credit card.

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Well That’s Concerning: Former Fed Official Says Recession Likely

A former high-ranking official at the Federal Reserve said the likelihood of a recession in the United States is “very, very high,” though it might be a mild one that doesn’t hit until 2023.

Make Your Money Work for You

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Bonus: Prone to Impulse Spending? Try the 30-Day Savings Rule

To wean yourself off of impulse spending (and put your money to better use), follow the 30-day savings rule. It basically boils down to this: The next time you consider making an impulse purchase or buying something you don’t need, stop yourself and think it over for 30 days.

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ICYMI: Yesterday’s GO in the Know

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