Economy

WASHINGTON (AP) — The number of Americans applying for unemployment benefits fell last week to a new low point since the pandemic erupted, evidence that layoffs are declining as companies hold onto workers. Unemployment claims dropped 6,000 to 290,000 last... Read More

WASHINGTON -- While economists warned about disruptions to the U.S. supply chain, Chuck Fowke told a congressional panel Wednesday about countertops. “If you can’t get the cabinets, you can’t put the countertops on,” Fowke said as he testified on behalf... Read More

WASHINGTON (AP) — Gina Raimondo only wears watches made by Bulova — a company that laid off her scientist father, closed its Rhode Island factory and moved production to China in 1983. The watches give Raimondo, the U.S. commerce secretary,... Read More

WASHINGTON -- They’ve almost become as ubiquitous as scenes of weathermen and women leaning into the fierce winds of a tropical storm during hurricane season. We refer, of course, to the daily television news footage of a reporter bobbing up... Read More

WASHINGTON (AP) — Inflation at the wholesale level rose 8.6% in September compared to a year ago, the largest advance since the 12-month change was first calculated in 2010. The Labor Department reported Thursday that the monthly increase in its... Read More

WASHINGTON --  In an ideal economy, the nation’s supply chains work something like this: raw materials, finished products and ready-to-assemble merchandise like cars and trucks flow into the nation’s ports. The largest of these ports, those blessed to sit on... Read More

WASHINGTON -- The International Monetary Fund on Tuesday downgraded its estimate for global gross domestic product growth this year, citing supply chain concerns and uncertainties related to the pandemic. However, the global financial institution suggests growth should rebound next year.... Read More

WASHINGTON (AP) — U.S. employers added just 194,000 jobs in September, a second straight tepid gain and evidence that the pandemic still has a grip on the economy with many companies struggling to fill millions of open jobs.  Friday's report... Read More

WASHINGTON (AP) — President Joe Biden is wielding his weapon of last resort in the nation's fight against COVID-19, as he champions vaccination requirements across the country in an effort to force the roughly 67 million unvaccinated American adults to... Read More

WASHINGTON -- Consumer spending on Halloween related items is expected to reach an all-time high of $10.14 billion, up from $8.05 billion in 2020, according to a new survey by the National Retail Federation. The federation conducts its annual Halloween... Read More

DETROIT (AP) — In a normal month before the pandemic, Con Paulos' Chevy dealership in Jerome, Idaho, sold around 40 new vehicles. In September, it was only six. Now he's got nothing new in stock, and every car, truck or... Read More

WASHINGTON (AP) — The number of Americans applying for unemployment benefits rose for the third straight week, a sign that the highly contagious delta variant may be slowing the job market's recovery. Claims rose by 11,000 last week to 362,000,... Read More

WASHINGTON (AP) — The number of Americans applying for unemployment aid rose last week for a second straight week to 351,000, a sign that the delta variant of the coronavirus may be disrupting the job market's recovery, at least temporarily.... Read More

WASHINGTON (AP) — The number of Americans seeking unemployment benefits moved up last week to 332,000 from a pandemic low, a sign that worsening COVID infections may have slightly increased layoffs. Applications for jobless aid rose from 312,000 the week... Read More

WASHINGTON (AP) — The share of Americans living in poverty rose slightly as the COVID-19 pandemic shook the economy last year, but massive relief payments pumped out by Congress eased hardship for many, the Census Bureau reported Tuesday. The official... Read More

NEW YORK (AP) — Downtown businesses in the U.S. and abroad once took for granted that nearby offices would provide a steady clientele looking for breakfast, lunch, everyday goods and services and last-minute gifts. As the resilient coronavirus keeps offices... Read More

WASHINGTON (AP) — Inflation at the wholesale level climbed 8.3% last month from August 2020, the biggest annual gain since the Labor Department started calculating the 12-month number in 2010. The Labor Department reported Friday that its producer price index... Read More

A new White House council on U.S. economic conditions plans to hold its first meeting Friday, with participants to highlight at least 18 actions taken to help consumers and potentially lower prices. The council, an outgrowth of a July executive... Read More

WASHINGTON -- Treasury Secretary Janet Yellen is warning Congress that she will run out of maneuvering room to prevent the U.S. from broaching the government’s borrowing limit in October. In a letter to congressional leaders on Wednesday, Yellen said that... Read More

NEW YORK (AP) — Millions of jobless Americans lost their unemployment benefits on Monday, leaving only a handful of economic support programs for those who are still being hit financially by the year-and-a-half-old coronavirus pandemic. Two critical programs expired on... Read More

WASHINGTON -- The U.S. employment grew by 235,000 jobs and the unemployment rate declined to 5.2% in August, but that 0.2% decrease still leaves 8.4 million Americans unemployed. The 235,000 growth spurt highlighted in the Labor Department’s August Employment Situation... Read More

WASHINGTON -- The number of Americans seeking unemployment benefits fell last week to a pandemic low 340,000, a sign the economy continues to improve, the Labor Department said Thursday. The number of claims declined by 14,000, as vaccinations for COVID-19... Read More

LONDON (AP) — For months, Gabrielle Walker had been looking for a part-time job. She applied to restaurant chains and retailers like Nando's and Primark, and she scoured the job search site Indeed. Nothing. Then one day, Walker, a 19-year-old... Read More

WASHINGTON (AP) — The number of people seeking unemployment benefits fell last week for a fourth straight time to a pandemic low, the latest sign that America's job market is rebounding from the pandemic recession as employers boost hiring to... Read More

A recent report from the National Council on Compensation Insurance finds that there are now 3 million fewer Americans in the labor force than there were before the pandemic.  “At the pandemics onset, there were 18 million people on temporary... Read More

Stocks are dropping on Wall Street early Tuesday amid turmoil in Afghanistan and unease about a weaker economic outlook in China. The S&P 500 lost 0.6% and the Dow Jones Industrial Average fell 0.7%. A report showed Americans cut back... Read More

A year and a half into the COVID-19 pandemic, travel bans meant to stem the crisis are taking a significant toll on global growth and trade, according to a new report from The Conference Board, the nonprofit business and research... Read More

This article is by Sarah DeWeerdt and was originally published by Anthropocene magazine. Meeting the goals of the Paris Agreement will require hundreds of billions or even trillions of dollars of investment in low-carbon technologies. But investment dollars aren’t distributed equally around the... Read More

WASHINGTON -- Among the unpredicted impacts of COVID-19 was the vulnerability of American dependence on manufacturing and services from China. Everything from consumer products to pharmaceuticals and health and safety equipment experienced delays and shortages as a result of China... Read More

WASHINGTON (AP) — The U.S. trade deficit increased to a record $75.7 billion in June as a rebounding American economy sent demand for imports surging. The Commerce Department reported Thursday that the deficit rose 6.7% from a revised May deficit... Read More