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Economy

2021-07-14 14:31:03
by Tom Ramstack
Small Business Advocates Plead for Help Recovering from the Pandemic

WASHINGTON -- Members of Congress threw their support Tuesday behind President Joe Biden’s goal of helping small and rural businesses... Read More

WASHINGTON -- Members of Congress threw their support Tuesday behind President Joe Biden’s goal of helping small and rural businesses but with different perspectives on how to achieve it. Rep. Jared Golden, D-Maine, suggested that Congress provide a dedicated source... Read More

2021-07-12 16:05:13
by Brock Blasdell
Explainer: Where are America’s Workers?

As the American economic engines churn back to life, one major hurdle stands in the way of our market renaissance... Read More

As the American economic engines churn back to life, one major hurdle stands in the way of our market renaissance - labor. Businesses, especially low wage, low skill businesses, are having a difficult time finding people to work for them. ... Read More

2021-07-07 16:13:34
by Brock Blasdell
Record High Confidence Levels Wane for Agricultural Producers

An Ag Economy Barometer report published Tuesday found a 21-point decline in the confidence of food producers in the United... Read More

An Ag Economy Barometer report published Tuesday found a 21-point decline in the confidence of food producers in the United States for June. This solidifies a second month of waning optimism from record highs set earlier in 2021, and indicates... Read More

As Employers Struggle to Fill Jobs, Teens Come to the Rescue

WASHINGTON (AP) — The owners of restaurants, amusement parks and retail shops, many of them desperate for workers, are sounding... Read More

WASHINGTON (AP) — The owners of restaurants, amusement parks and retail shops, many of them desperate for workers, are sounding an unusual note of gratitude this summer: Thank goodness for teenagers. As the U.S. economy bounds back with unexpected speed... Read More

2021-07-06 17:59:25
by Dan McCue
Movie Theaters Slowly Recovering From Pandemic Closures

Movie theaters are seeing a slow uptick in their business as summer and reopenings continue, but the box office take... Read More

Movie theaters are seeing a slow uptick in their business as summer and reopenings continue, but the box office take for 2021 to date is still 81% below where it was pre-pandemic, according to analysis by Variety magazine. Though the... Read More

2021-07-02 18:47:08
by Kate Michael
Experts Unsure Whether Stimulus Causing Inflation

WASHINGTON — If it seems like prices are going up for things like gas, groceries, vehicles, and houses, they are.... Read More

WASHINGTON — If it seems like prices are going up for things like gas, groceries, vehicles, and houses, they are. The Consumer Price Index has risen by an average of 0.7% per month over the last three months, is now... Read More

US Adds a Solid 850,000 Jobs as Economy Extends Its Gains

WASHINGTON (AP) — In an encouraging burst of hiring, America's employers added 850,000 jobs in June, well above the average... Read More

WASHINGTON (AP) — In an encouraging burst of hiring, America's employers added 850,000 jobs in June, well above the average of the previous three months and a sign that companies may be having an easier time finding enough workers to... Read More

US Economy Up 6.4% in Q1 With Stronger Future Gains Expected

WASHINGTON (AP) — The U.S. economy grew at a solid 6.4% rate in the first three months of this year,... Read More

WASHINGTON (AP) — The U.S. economy grew at a solid 6.4% rate in the first three months of this year, setting the stage for what economists are forecasting could be the strongest year for the economy in possibly seven decades.... Read More

2021-06-22 21:27:29
by Kate Michael
SBA Chief Says Ensuring Equity Critical to Success of COVID Relief Program

WASHINGTON — While much good came from the COVID relief funds doled out by the Small Business Administration as the... Read More

WASHINGTON — While much good came from the COVID relief funds doled out by the Small Business Administration as the pandemic ran its course time has shown that certain businesses -- particularly those owned by women and minorities -- went... Read More

2021-06-15 14:58:38
by Dan McCue
Biden Moves to End Long-running Boeing, Airbus Dispute

President Joe Biden on Tuesday moved to end a 17-year dispute with the European Union over how big a government... Read More

President Joe Biden on Tuesday moved to end a 17-year dispute with the European Union over how big a government subsidy each can provide to its major aircraft manufacturer. That’s Boeing in the case of the U.S.; Airbus in the... Read More

2021-06-11 14:28:28
by Brock Blasdell
Kansas Receives Gold Shovel Award

The state of Kansas has been awarded Area Development Magazine’s prestigious Gold Shovel award in recognition of its successful year... Read More

The state of Kansas has been awarded Area Development Magazine’s prestigious Gold Shovel award in recognition of its successful year attracting high-value business investment. Over $6 billion in new business dollars and more than 26 thousand jobs have been created... Read More

Wedding Boom is On in US as Vendors Scramble to Keep Up

NEW YORK (AP) — Couples in the U.S. are racing to the altar in a vaccination-era wedding boom that has... Read More

NEW YORK (AP) — Couples in the U.S. are racing to the altar in a vaccination-era wedding boom that has venues and other vendors in high demand. With restrictions on large gatherings loosening, wedding planners and others who make the... Read More

2021-06-04 19:40:22
by Victoria Turner
US Jobs Edging Back to Normalcy as Pandemic Recedes

The U.S. employment situation seems to be edging closer to normalcy with the recent Bureau of Labor Statistics report showing... Read More

The U.S. employment situation seems to be edging closer to normalcy with the recent Bureau of Labor Statistics report showing a 1.7% decline in teleworking employees. This indicates more people are returning to the office, but it remains uncertain whether... Read More

2021-06-01 14:26:07
by Victoria Turner
Guzman Touts SBA's Progress, but More Capital Still Needed

Recently, Rep. Steve Womack, R-Ark., visited family-owned oil and gas company Pruitt when the small business told the congressman that... Read More

Recently, Rep. Steve Womack, R-Ark., visited family-owned oil and gas company Pruitt when the small business told the congressman that it would not have survived the pandemic had it not been for the Paycheck Protection Program funding it received. “PPP... Read More

US Jobless Claims Fall to 406,000, a New Pandemic Low

WASHINGTON (AP) — The number of Americans seeking unemployment benefits dropped last week to 406,000, a new pandemic low and... Read More

WASHINGTON (AP) — The number of Americans seeking unemployment benefits dropped last week to 406,000, a new pandemic low and more evidence that the job market is strengthening as the virus wanes and economy further reopens. Thursday's report from the... Read More

2021-05-19 14:30:02
by TWN Staff
CEOs Say Regulatory Reform Key to Climate, Infrastructure Plan Success

If the White House and Democrats in Congress truly want to achieve President Joe Biden's economic goals, they should not... Read More

If the White House and Democrats in Congress truly want to achieve President Joe Biden's economic goals, they should not overlook the need to modernize and improve the nation's cumbersome regulatory system, according to a new report from The Business... Read More

2021-05-17 15:32:16
by Kate Michael
Granholm Says Green Jobs a Matter of ‘Economic Patriotism’

WASHINGTON — The Biden administration’s push to tackle several crises at once has reenergized the push for green jobs or... Read More

WASHINGTON — The Biden administration’s push to tackle several crises at once has reenergized the push for green jobs or those jobs which contribute to preserving or restoring the environment, including those in traditional sectors, like manufacturing.  His American Jobs... Read More

2021-05-17 15:29:14
by Dan McCue
How Consumers Created A Pop-Up Gas Crisis

It was a scene that repeated itself at intersection after intersection in the District and surrounding communities in Virginia and... Read More

It was a scene that repeated itself at intersection after intersection in the District and surrounding communities in Virginia and Maryland this past weekend. Desperate-faced drivers, their knuckles taut against their steering wheels, slowly moving past lonely gas pumps and... Read More

Desperate for Workers, US Restaurants and Stores Raise Pay

WASHINGTON (AP) — U.S. restaurants and stores are rapidly raising pay in an urgent effort to attract more applicants and... Read More

WASHINGTON (AP) — U.S. restaurants and stores are rapidly raising pay in an urgent effort to attract more applicants and keep up with a flood of customers as the pandemic eases. McDonald's, Sheetz and Chipotle  are just some of the... Read More

COVID-19 Pet Boom Has Veterinarians Backlogged, Burned Out

FORT LAUDERDALE, Fla. (AP) — During the gloomiest stretches of the pandemic, Dr. Diona Krahn's veterinary clinic has been a... Read More

FORT LAUDERDALE, Fla. (AP) — During the gloomiest stretches of the pandemic, Dr. Diona Krahn's veterinary clinic has been a puppy fest, overrun with new four-legged patients.  Typically, she'd get three or four new puppies a week, but between shelter... Read More

2021-05-07 20:02:33
by Alexa Hornbeck
How Income Volatility Impacts Health Decisions

This week the Centers for Disease Control and Prevention National Center for Health Statistics released data that the U.S. birth... Read More

This week the Centers for Disease Control and Prevention National Center for Health Statistics released data that the U.S. birth rate is the lowest it’s been since 1979, and one theory on why this is happening is younger individuals who... Read More

2021-05-07 19:54:36
by Daniel Mollenkamp
Middle East Needs to Move to 'A New Economic Model,' According to IMF Official

An official from the International Monetary Fund argued this week that the Middle East and Central Asia regions should shift... Read More

An official from the International Monetary Fund argued this week that the Middle East and Central Asia regions should shift towards a new and inclusive economic model as they emerge from the pandemic, echoing IMF claims that this is the... Read More

2021-05-07 16:10:19
by Victoria Turner
US Employment Situation Improves Slowly but Surely

With the US unemployment rate essentially unchanged from March to April from 6.0% to 6.1% respectively, the American state of... Read More

With the US unemployment rate essentially unchanged from March to April from 6.0% to 6.1% respectively, the American state of employment seems to continue on its positive track, according to the Bureau of Labor Statistics latest report.  Employment in nonfarm... Read More

2021-05-03 21:38:37
by Reece Nations
$28.6 Billion Restaurant Revitalization Fund Open for Enrollment

The Small Business Administration began accepting applications on Monday for the Restaurant Revitalization Fund, a program authorized in March by... Read More

The Small Business Administration began accepting applications on Monday for the Restaurant Revitalization Fund, a program authorized in March by the passage of the American Rescue Plan Act. To receive funding, businesses must submit their application to the SBA on... Read More

2021-05-03 20:47:27
by Tom Ramstack
Republicans Claim $15 Minimum Wage Would Hurt U.S. Jobs and Businesses

WASHINGTON -- The Biden administration’s pledge to up the wages and fair labor standards of low-income workers hit a roadblock... Read More

WASHINGTON -- The Biden administration’s pledge to up the wages and fair labor standards of low-income workers hit a roadblock among Republicans during a congressional hearing Monday. The intentions are good but the economics are bad, according to critics who... Read More

Yellen: Biden's Phased-in Spending Plan Won't Fuel Inflation

WASHINGTON (AP) — President Joe Biden's massive proposed spending on infrastructure, families and education will not fuel inflation because the... Read More

WASHINGTON (AP) — President Joe Biden's massive proposed spending on infrastructure, families and education will not fuel inflation because the plans would be phased in gradually over 10 years, Treasury Secretary Janet Yellen said Sunday. New economic reports have portrayed... Read More

Help Wanted: In Pandemic, Worry About Finding Summer Workers

BOSTON (AP) — The owner of seafood restaurants on Cape Cod has eliminated lunch service and delayed the opening of... Read More

BOSTON (AP) — The owner of seafood restaurants on Cape Cod has eliminated lunch service and delayed the opening of some locations because his summertime influx of foreign workers hasn't arrived yet.  More than a thousand miles away, a Jamaican... Read More

2021-04-19 20:07:32
by Reece Nations
Lower Employment Figures Spur Concern for Airline Industry

WASHINGTON — As the industry continues to rally back from the lifting of pandemic travel restrictions, some passenger airline companies... Read More

WASHINGTON — As the industry continues to rally back from the lifting of pandemic travel restrictions, some passenger airline companies are still struggling to retain full-time employees. February employment figures for airlines were down nearly 1% from January, according to... Read More

2021-04-16 13:25:59
by Tom Ramstack
Disease Experts Look to the End Of Pandemic But Aren't Sure When

WASHINGTON -- As the U.S. death toll reached 564,000 from COVID-19, the nation’s top disease experts said Thursday normal life... Read More

WASHINGTON -- As the U.S. death toll reached 564,000 from COVID-19, the nation’s top disease experts said Thursday normal life will return for Americans only when enough of them get vaccinated. But with more than 70,000 new infections daily, they... Read More

US Jobless Claims Plunge to 576,000, Lowest Since Pandemic

WASHINGTON (AP) — The number of Americans applying for unemployment benefits tumbled last week to 576,000, a post-COVID low and... Read More

WASHINGTON (AP) — The number of Americans applying for unemployment benefits tumbled last week to 576,000, a post-COVID low and a hopeful sign that layoffs are easing as the economy recovers from the pandemic recession.  The Labor Department said Thursday... Read More

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