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Economy

Biden, a Convert to Mandates, Making Economic Case for Shots

WASHINGTON (AP) — President Joe Biden is wielding his weapon of last resort in the nation's fight against COVID-19, as... 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

2021-10-06 15:58:54
by TWN Staff
Sweet News: Halloween Spending Expected To Reach All-Time High

WASHINGTON -- Consumer spending on Halloween related items is expected to reach an all-time high of $10.14 billion, up from... 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

US Auto Sales Slump, Stalled by Car Computer Chip Shortage

DETROIT (AP) — In a normal month before the pandemic, Con Paulos' Chevy dealership in Jerome, Idaho, sold around 40... 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

US Unemployment Claims Rise Third Straight Week to 362,000

WASHINGTON (AP) — The number of Americans applying for unemployment benefits rose for the third straight week, a sign that... 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

US Jobless Claims Tick Up From Near a Pandemic Low

WASHINGTON (AP) — The number of Americans applying for unemployment aid rose last week for a second straight week to... 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

US Unemployment Claims Rise After Hitting Pandemic Low

WASHINGTON (AP) — The number of Americans seeking unemployment benefits moved up last week to 332,000 from a pandemic low,... 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

Census: Relief Payments Staved Off Hardship in COVID Crash

WASHINGTON (AP) — The share of Americans living in poverty rose slightly as the COVID-19 pandemic shook the economy last... 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

Adapt or Else: Downtown Businesses Cope With New Reality

NEW YORK (AP) — Downtown businesses in the U.S. and abroad once took for granted that nearby offices would provide... 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

U.S. Produce Prices Up 8.3% in August From a Year Earlier

WASHINGTON (AP) — Inflation at the wholesale level climbed 8.3% last month from August 2020, the biggest annual gain since... 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

White House Competition Council Seeks Lower Consumer Prices

A new White House council on U.S. economic conditions plans to hold its first meeting Friday, with participants to highlight... 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

2021-09-08 18:16:10
by Dan McCue
Yellen Warns US May Hit Debt Limit in October

WASHINGTON -- Treasury Secretary Janet Yellen is warning Congress that she will run out of maneuvering room to prevent the... 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

Jobless Americans Will Have Few Options as Benefits Expire

NEW YORK (AP) — Millions of jobless Americans lost their unemployment benefits on Monday, leaving only a handful of economic... 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

2021-09-03 15:46:42
by Victoria Turner
Delta Variant Concerns Affecting U.S. Employment Situation

WASHINGTON -- The U.S. employment grew by 235,000 jobs and the unemployment rate declined to 5.2% in August, but that... 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

2021-09-02 14:41:39
by Dan McCue
Unemployment Claims Reach Pandemic Low

WASHINGTON -- The number of Americans seeking unemployment benefits fell last week to a pandemic low 340,000, a sign the... 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

Gig Apps for a Pandemic Economy: Part Time, No Commitment

LONDON (AP) — For months, Gabrielle Walker had been looking for a part-time job. She applied to restaurant chains and... 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

US Jobless Claims Hit a Pandemic Low as Hiring Strengthens

WASHINGTON (AP) — The number of people seeking unemployment benefits fell last week for a fourth straight time to a... 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

2021-08-18 14:03:30
by Alexa Hornbeck
Employers Face Difficulties Filling Open Positions While Unemployment Remains High

A recent report from the National Council on Compensation Insurance finds that there are now 3 million fewer Americans in... 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

Wall Street Lower as Retail Sales Post Steep Drop in July

Stocks are dropping on Wall Street early Tuesday amid turmoil in Afghanistan and unease about a weaker economic outlook in... 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

2021-08-11 15:47:57
by Dan McCue
Report: Travel Restrictions Inflicting Substantial Toll on Global Growth and Trade

A year and a half into the COVID-19 pandemic, travel bans meant to stem the crisis are taking a significant... 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

2021-08-10 22:23:39
by Anthropocene
Fairer Access to Credit Could Speed Net Zero in Africa by a Decade

This article is by Sarah DeWeerdt and was originally published by Anthropocene magazine. Meeting the goals of the Paris Agreement will require hundreds... 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

2021-08-10 17:44:33
by Kate Michael
Inter-American Development Bank Creates Toolkit for Nearshoring Supply Chains

WASHINGTON -- Among the unpredicted impacts of COVID-19 was the vulnerability of American dependence on manufacturing and services from China.... 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

US Trade Deficit Hits Record $75.7 Billion in June

WASHINGTON (AP) — The U.S. trade deficit increased to a record $75.7 billion in June as a rebounding American economy... 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

2021-08-10 13:05:35
by Reece Nations
Job Openings Exceed Unemployment by Roughly 1 Million

While the U.S. Bureau of Labor Statistics reported on Monday that job openings increased to their highest ever recorded point... Read More

While the U.S. Bureau of Labor Statistics reported on Monday that job openings increased to their highest ever recorded point at the end of June to 10.1 million available positions, the Department of Labor reported on Friday that some 8.7... Read More

U.S. Job Openings Hit a Record 10.1 Million in June

WASHINGTON (AP) — U.S. employers posted a record 10.1 million job openings in June, another sign that the job market... Read More

WASHINGTON (AP) — U.S. employers posted a record 10.1 million job openings in June, another sign that the job market and economy are bouncing back briskly from last year's coronavirus shutdowns. Job openings rose from 9.5 million in May, the... Read More

2021-08-06 19:07:47
by Victoria Turner
Employers Added 943,000 in July in Sign Economy Will Weather Delta Variant

Employers added 943,000 jobs in July and drove the unemployment rate down by 5.4%, with leisure and hospitality, local government,... Read More

Employers added 943,000 jobs in July and drove the unemployment rate down by 5.4%, with leisure and hospitality, local government, education and business services leading in the hiring, the Labor Department said Friday. In remarks delivered at the White House,... Read More

US Jobless Claims Down 14,000 to 385,000 as Economy Rebounds

WASHINGTON (AP) — The number of Americans applying for unemployment benefits fell last week by 14,000 to 385,000, more evidence... Read More

WASHINGTON (AP) — The number of Americans applying for unemployment benefits fell last week by 14,000 to 385,000, more evidence that the economy and the job market are rebounding briskly from the coronavirus recession. The Labor Department reported Thursday that... Read More

2021-08-03 14:28:03
by TWN Staff
Farmers Cautiously Optimistic About Future of Their Farms, Ag Barometer Finds

America’s farmers are feeling the sobering pinch of weakened principal crop prices, but nevertheless remain cautiously optimistic about the financial... Read More

America’s farmers are feeling the sobering pinch of weakened principal crop prices, but nevertheless remain cautiously optimistic about the financial conditions of their farms, a just- released industry barometer has found. According to the Purdue University/CME Group Ag Economy Barometer... Read More

2021-07-30 16:09:20
by Daniel Mollenkamp
Bidenomics Means Increasing 'Worker Power,' Advisor Argues

WASHINGTON -- The success of President Joe Biden's promise to breathe new life into the American working and middle class... Read More

WASHINGTON -- The success of President Joe Biden's promise to breathe new life into the American working and middle class will hang on the administration's ability to build up the power of workers, according to a group of economic experts.... Read More

2021-07-29 14:43:36
by TWN Staff
US Economy Continues to Grow, Eclipses Pre-Pandemic High

WASHINGTON -- The U.S. economy grew at an annualized rate of 6.5% in the second quarter, as vaccinations that released... Read More

WASHINGTON -- The U.S. economy grew at an annualized rate of 6.5% in the second quarter, as vaccinations that released pent up consumer activity finally lifted the nation out of the pandemic-sized crater it had been in for more than... Read More

Biden Admin Stepping Up Community Grants from COVID Bill

WASHINGTON (AP) — President Joe Biden's administration is beginning to make $3 billion in economic development grants available to communities... Read More

WASHINGTON (AP) — President Joe Biden's administration is beginning to make $3 billion in economic development grants available to communities — a tenfold increase in the program paid for by this year's COVID-19 relief bill. Commerce Secretary Gina Raimondo said... Read More

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