Smart. Sharp. Funny. Fearless.
Sunday, May 27, 2018
U.S. Economy
People enter the Nassau County Mega Job Fair at Nassau Veterans Memorial Coliseum in Uniondale, New York October 7, 2014. REUTERS/Shannon Stapleton

U.S. Payrolls Gains Beat Expectations, Wages Rise

Last month’s strong job growth should reinforce the Fed’s confidence in a labor market that officials view as at or near full employment.

August 5, 2016

New Study Proves America’s ‘Takers’ Are Better Givers Than Miserly Rich

While charitable donations by the wealthy plummeted, the poor gave more.

October 6, 2014

U.S. New-Home Sales Soar To 6-Year High In August

New-Home sales were up 18 percent in the month of August, which suggests that housing demand has stabilized in recent months.

September 24, 2014

U.S. Inflation Falls For First Time In Over A Year

Washington (AFP) — Consumer prices in the United States fell in August for the first time in more than a year, dragged lower by declines in energy, the Labor Department reported Wednesday. The consumer price index fell 0.2 percent on the month. It was the first decline in CPI since April 2013, surprising analysts who […]

September 17, 2014

Fed To Tweak Message In Policy Meeting: Analysts

Washington (AFP) — The Federal Reserve is expected to maintain its slow march toward a normal monetary stance in its policy meeting Tuesday and Wednesday. But a small, key adjustment to its messaging could confirm growing confidence in the economy. After the surprisingly poor jobs market report for August, pressure has alleviated somewhat on the […]

September 15, 2014

Manufacturing Leads U.S. Industrial Output Higher

Washington (AFP) — Manufacturing pushed U.S. industrial production higher in July in the sixth straight months of gains, the Federal Reserve said Friday. Total output of the nation’s manufacturing, mining, and utilities rose 0.4 percent in July, after an upwardly revised 0.4 percent gain in June. The July output increase was slightly stronger than analysts […]

August 15, 2014

Dollar Tree To Buy Family Dollar In $9.2 Bn Deal

New York (AFP) — U.S. discount retailers Dollar Tree and Family Dollar announced Monday a $9.2 billion merger that will create a huge chain of more than 13,000 stores across North America. Dollar Tree, which sells everything for $1 or less, will pay combination of $59.60 in cash and $14.90 equivalent in Dollar Tree shares […]

July 28, 2014

U.S. Stocks Rise On Mostly Solid Corporate Earnings

New York (AFP) — Wall Street stocks Tuesday moved higher in early trade on a stream of generally solid earnings reports that suggest the U.S. economy is continuing to pick up momentum. About 40 minutes into trade, the Dow Jones Industrial Average advanced 73.55 points (0.43 percent) to 17,125.28. The broad-based S&P 500 gained 10.89 […]

July 22, 2014

U.S. Existing-Home Sales Leap To Eight-Month High

Washington (AFP) — Sales of existing U.S. homes in June hit the highest level in eight months as home price gains slowed to “more welcoming levels,” the National Association of Realtors said Tuesday. Sales of existing homes, the majority of the U.S. housing market, climbed 2.6 percent to an annual rate of 5.04 million in […]

July 22, 2014

Happy Days Here Again? Jobs Surge, Stocks Hit Record High

By Kevin G. Hall, McClatchy Washington Bureau WASHINGTON — Job growth surged in June, capping the best first half since 1999, driving blue chip stocks to a record high, and leading analysts to say the economy is shifting to higher gear. Employers added a sizzling 288,000 jobs last month, the Labor Department said, pushing the […]

July 3, 2014

Job Growth Is Robust In June; Unemployment Rate Falls To 6.1 Percent

By Don Lee, Tribune Washington Bureau WASHINGTON — U.S. employers added a robust 288,000 jobs last month and the unemployment rate fell to a six-year low of 6.1 percent, the government reported Thursday. The net job growth in June exceeded analysts’ expectations and signaled a strengthening labor market as the economy moves past a weak […]

July 3, 2014

Private Sector Adds Surprisingly Strong 281,000 Jobs in June, ADP Says

By Jim Puzzanghera, Los Angeles Times WASHINGTON — Private employers added a surprisingly strong 281,000 net new jobs in June, the most since late 2012, payroll firm Automatic Data Processing Inc. said Wednesday. The figure was up sharply from 179,000 in May and is a positive sign heading into Thursday’s official jobs report from the […]

July 2, 2014

U.S. Auto Sales Best Expectations For June

New York (AFP) – Leading automakers, including scandal-plagued General Motors, Tuesday reported better-than-expected June auto sales in the U.S., an indication of higher consumer confidence. Three of the four biggest auto sellers in the U.S. — GM, Toyota and Chrysler — notched increases from the June 2013 period, while Ford Motor reported a smaller decline […]

July 1, 2014

Obama Brings Middle-Class Message To Minnesota

By Baird Helgeson and Abby Simons, Star Tribune (Minneapolis) MINNEAPOLIS — President Barack Obama began a two-day visit to Minneapolis on Thursday sharing cheeseburgers with a local working mother and bringing a middle-class message tailor made to aid Democrats fearful of massive losses in the upcoming election. Obama said he shares the frustrations of people […]

June 27, 2014

Excessive Drinking Causes 1 In 10 Adult Deaths: U.S.

Washington (AFP) — Excessive alcohol consumption causes one in 10 deaths among U.S. adults, whether because of accidents or medical conditions that arise from long-term drinking, research showed Thursday. Each year, alcohol-related deaths cost the U.S. economy $224 billion, mainly in lost productivity, said a report from the Centers for Disease Control and Prevention. The […]

June 26, 2014

U.S. Home Price Growth Brakes In April

Washington (AFP) — U.S. home price gains slowed sharply in April, providing fresh evidence of a weakness in the housing market recovery, the S&P Case-Shiller index showed Tuesday. The 20-city index of home prices rose at an annual rate of 10.8 percent in April, following the 12.4 percent growth rate posted for March. Month-over-month, the […]

June 24, 2014

U.S. New Home Sales Hit Six-Year High

Washington (AFP) — Sales of new homes in the United States in May hit their highest pace since the market crashed six years ago, as the industry pulls out of the winter lull. Sales picked up to an annual pace of 504,000 units, compared to a 425,000-unit pace in April, and were nearly 17 percent […]

June 24, 2014

U.S. Consumer Confidence Rises In June

Washington (AFP) — U.S. consumer confidence increased for the second straight month in June to its highest level since January 2008, when the U.S. economy was sinking into recession, The Conference Board reported Tuesday. The consumer confidence index rose to 85.2, up from 82.2 the previous month, with consumers more positive about the outlook for […]

June 24, 2014

What Happens In Iraq Doesn’t Matter To U.S. Economy

By Kevin G. Hall, McClatchy Washington Bureau WASHINGTON — The unraveling of Iraq is of little consequence to the United States in economic terms. More than a decade after the U.S.-led invasion, Iraq’s economy remains in shambles and two-way trade outside the oil sector remains minimal. So disappointing is Iraq’s economy that the Heritage Foundation, […]

June 19, 2014

Inflation jumps 0.4% As Costs Rise For Food, Energy, Other items

By Jim Puzzanghera, Los Angeles Times WASHINGTON — Inflation unexpectedly jumped last month as higher prices for food, energy, and other items pushed the annual rate above the Federal Reserve’s preferred 2 percent target, the Commerce Department said Tuesday. The new data could lead central bank policymakers to act more quickly to raise rock-bottom short-term […]

June 17, 2014

U.S. Consumer Prices Jump In May

Washington (AFP) – U.S. consumer prices leaped across the board in May, putting in the strongest monthly gain in more than a year, the Labor Department said Tuesday. The consumer price index rose 0.4 percent from April, the largest increase since February 2013. Price rises were broad-based, with shelter, electricity, food, airline fares, and gasoline […]

June 17, 2014

U.S. Housing Starts Slow In May

Washington (AFP) – New U.S. home construction and applications for building permits slowed sharply in May, government data released Tuesday showed, new evidence of weakness in the housing market. The Commerce Department said housing starts fell 6.5 percent from April to an annual rate of 1,001,000 units. Building permits, an indicator of future activity, dropped […]

June 17, 2014

U.S. Economic Growth Revised Down To 2.4% In Q4

Washington (AFP) – The U.S. economy grew more slowly than previously thought in the 2013 fourth quarter, largely due to weaker consumer spending, official data released Friday showed. The Commerce Department said gross domestic product growth in the final quarter was at an annual rate of 2.4 percent, revising its initial estimate of a 3.2 […]

February 28, 2014

Walmart Reports Big Profit Drop On Weak U.S. Sales

New York (AFP) – U.S. retail giant Wal-Mart Stores Thursday reported a 21 percent drop in quarterly earnings due to weak U.S. sales, and gave a tepid forecast for the upcoming year. Quarterly earnings for the period ending January 31 fell from $5.6 billion to $4.4 billion. A big factor was a 0.4 percent decline […]

February 20, 2014

Obama Team Eyes Arizona, Georgia; Sees Indiana as Out of Reach

The 2012 presidential race will see Barack Obama competing vigorously in some of the states he turned blue in 2008 with burgeoning Hispanic populations, like Nevada, Virginia and North Carolina, as well as others that were out of reach but are seeing even larger growth in the Latino community, like Arizona and Georgia. On the […]

June 10, 2011