Morning Report: Car insurance rates climb as workers return to the office

According to personal finance website ValuePenguin, insurance rates across the US are expected to rise by 8.4% in 2023. This will pull the total average premium for full coverage to $1,780 per year. ValuePenguin cites factors such as pricier cars and more expensive repairs as reasons for the increase. Workers resuming their daily commutes and an uptick in storm-related claims driven by climate change will also affect the price of your insurance.

According to the FDA, the Adderall shortage continues, with five companies reporting availability issues. The drug treats Attention-Deficit/Hyperactivity Disorder (ADHD) and Narcolepsy. A recent survey of local pharmacies showed that nearly 97% did not have adequate stock of the medication.

A labor board ruled that the coffee giant, Starbucks, illegally surveilled and fired union leaders. The three member panel found that the chain repeatedly violated the law while workers were organizing in Philadelphia. Starbucks has denied that it retaliates against its workers for attempts at organizing their stores.

This January marked the fifth consecutive month that new-home construction fell. Housing starts, which represent the first stage of construction, dropped in January by 4.5% from the previous month. The total rate was the lowest it has been since June of 2020. The housing market has a long way to go before rebounding.

Categories: Morning Business Report