Morning Business Report: Holiday shopping hits record as rents fall and health insurance drives career choices

An estimated 203 million U.S. consumers shopped during the five-day stretch from Thanksgiving Day through Cyber Monday, according to the National Retail Federation.

(LILAMAX)- An estimated 203 million U.S. consumers shopped during the five-day stretch from Thanksgiving Day through Cyber Monday, according to the National Retail Federation. That marks the largest turnout since the organization began tracking the data in 2017. Analysts say shoppers were motivated by strong sales, free shipping offers, and limited-time promotions, according to Phil Rist of Prosper Insights & Analytics.

Apartment rents continue to fall nationwide while vacancies reach record highs. The national median rent for apartments dropped 1% in November from October, now sitting at $1,367, according to Apartment List. The national multifamily vacancy rate rose to 7.2% in November — the highest level on record.

Markets also saw improvement on Tuesday, with stocks and cryptocurrency rebounding. The Dow closed up 185 points.

A new survey finds health insurance is the top deciding factor in Americans’ next career move. The national poll of 2,000 adults, conducted by Talker Research and Oscar Health, shows 53% say access to health insurance is the most important consideration when choosing their next job.

And a new study shows the average child now receives up to $52 per month in allowance — $36 more than their parents earned at the same age, when adjusted for inflation. More than three in four parents believe their children are responsible with money, and 61% say their kids are even more financially responsible than they are. The survey, commissioned by Acorns Early, found parents provide allowances through cash, digital payment apps, or pre-loaded debit cards.