*By Michael Teich*
Corporate shareholders may [benefit](https://money.cnn.com/2018/02/16/investing/stock-buybacks-tax-law-bonuses/index.html) from tax cuts, but American workers aren't really profiting, said Mark Hamrick, senior economic analyst at Bankrate.
"It's globalization, the ability of employers to [replace labor](https://cheddar.com/videos/selerity-exec-a-i-in-finance-will-shift-from-consumers-to-workers) with technology," Hamrick said Friday in an interview with Cheddar. "Workers are not getting the bulk of these tax cuts. Workers have perhaps some appropriate reason to be a bit disappointed."
The Labor Department reported Friday that the unemployment rate in the U.S. dropped to 3.9 percent. But as unemployment falls, inflation is rising, and companies are squeamish about tariffs.
"Inflation has been running at an annual rate of about 2 percent, meaning that real wages are making little progress," Hamrick said.
Though average hourly earnings rose 2.7 percent for the second straight month, when inflation's factored in, workers are taking home less than a percent more in earnings.
Now is the time, Hamrick said, to save for retirement and emergencies.
The U.S. economy added 157,000 jobs in July, missing estimates of 193,000 but marking the 94th consecutive month of growth.
For more on this story, [click here](https://cheddar.com/videos/the-reason-youre-not-getting-a-raise).
Jade Warshaw, personal finance expert and co-host of 'The Ramsey Show, joined Cheddar News to provide tips on how to save on engagement rings and to look at cheaper alternatives.
As the country watches the financial situation and monitors decisions from the Federal Reserve, many may be re-evaluating what to do with their money, with interest and mortgage rates at some of the highest levels seen in decades. Mark Hamrick, Washington bureau chief and senior economic analyst with Bankrate, joined Cheddar News to provide tips on your money management as monetary policy continues to change.
A Dutch recruitment firm found that only 42% of employees who have been laid off this year actually received severance, down from 64% who received severance in 2021.
Direct deposit delays due to a human error that happened last week have resulted in some customers still not receiving their paychecks.
Nestle is reportedly investing $100 million in food delivery startup Wonder Group.
Arturo Béjar testified before a Senate subcommittee on Tuesday about social media and the teen mental health crisis, hoping to shed light on how Meta executives, including Zuckerberg, knew about the harms Instagram was causing but chose not to make meaningful changes to address them.
Nike is suing two of its competitors for alleged patent infringement.
Uber missed analysts' projections for earnings per share and revenue this past quarter. Cheddar News takes a closer look at the numbers and explains what to expect for the rest of the fiscal year.
Cheddar News breaks down some of the top business stories to look out for, including WeWork's bankruptcy filing and fast-fashion retailer Shein reportedly expecting a $90 million valuation upon its market debut. Plus, a new EV truck will have a backup gas generator.
WeWork has filed for Chapter 11 bankruptcy protection.
