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US Jobless Claims Hit 52-Year Low After Seasonal Adjustments
Employment
US Jobless Claims Hit 52-Year Low After Seasonal Adjustments

WASHINGTON (AP) — The number of Americans applying for unemployment benefits plummeted last week to the lowest level in more than half a century, another sign that the U.S. job market is rebounding rapidly from last year's coronavirus recession. Jobless... Read More

Federal Budget
Snapchat CEO Joins Budget Hawks to Focus on Fiscal Issues
2021-11-03 14:05:45
by Kate Michael

WASHINGTON — Snapchat Founder and CEO Evan Spiegel made a bit of a surprise appearance at the Committee for a Responsible Budget’s annual Budget Ball reception on Capitol Hill Tuesday night. The “camera company” entrepreneur was lauded for his focus... Read More

Economy
CBO Report Says US Economy to Return to Pre-Pandemic Levels by Mid-2021
2021-02-01 20:59:56
by Victoria Turner

WASHINGTON - The Congressional Budget Office estimates that the U.S. economy will return to its pre-pandemic level by mid-2021, but employment levels will not fully return to normalcy until 2024. The nonpartisan federal agency that provides budget and economic analyses... Read More

Economy
US Unemployment Rate Falls to 8.4% Even as Hiring Slows

WASHINGTON (AP) — The U.S. unemployment rate fell sharply in August to 8.4% from 10.2% even as hiring slowed, with employers adding the fewest jobs since the pandemic began. Employers added 1.4 million jobs, the Labor Department said, down from... Read More

Economy
Economy Last Quarter Was Worst in US History, Shrinking 32.9%
2020-07-30 15:45:22
by Dan McCue

WASHINGTON - The U.S. economy shrank at an annual rate of 32.9% in the second quarter -- the worst quarterly decline ever -- amid a coronavirus pandemic that shuttered businesses and threw millions out of work. The Commerce Department's estimate... Read More

Economy
New Report Shows Private Equity's Positive Impact on U.S. Economy
2019-11-01 17:40:51
by Dan McCue

WASHINGTON - Private equity sector is playing a positive role in the U.S. economy, supporting more than 26 million jobs while accounting for about 5% of the nation's gross domestic product, according to a new report. The analysis comes from... Read More

Economy
Recession Fears Are Valid, But Predicting Timing Nearly Impossible, Economist Says
2019-08-23 19:01:20
by HJ Mai

There are plenty of warning signs that the longest economic expansion in the history of the United States is coming to an end. While the signs indicate an impending recession, predicting the time of it is nearly impossible, Hoyt Bleakley,... Read More

Economy
US Economy Breaks Record, But It Doesn't Appear To Be Benefiting Trump
2019-07-02 19:31:12
by Dan McCue

WASHINGTON - The U.S. economy broke a record for its longest expansion ever on Monday, but a poll released the same day suggests the solid economy is doing little to bolster support for President Donald Trump. On Monday, the United... Read More

Economy
Plummeting New Job Numbers in May
2019-06-07 21:19:52
by Dan McCue

WASHINGTON - Employers added just 75,000 new jobs in May, the Labor Department said Friday, a stunning development that took many economists by surprise. In a recent survey by Dow Jones, the consensus among economists was that the job gain... Read More

Economy
Christine Lagarde Warns ... 'Nobody Wins a Trade War and Everybody Suffers'
2019-06-07 00:19:16
by Dan McCue

WASHINGTON - Despite uncertainties on several fronts, including a nasty trade dispute with China, escalating tariff threats, and The federal government’s penchant for taking on enormous debt and all the risks that come with it, the U.S. economy should remain... Read More

Economy
US Adds Robust 263,000 Jobs; Unemployment Hits 49-Year Low
2019-05-03 14:45:21
by Dan McCue

U.S. employers added a robust 263,000 jobs in April, helping to push the unemployment rate to a five-decade low of 3.6 percent, the Labor Department said Friday. The latest report from the government suggests that continued economic growth is encouraging... Read More

Economy
Home Construction Slips Again in March, Putting Pinch on Sales Inventory
2019-04-19 19:59:54
by Dan McCue

Home construction declined 0.3 percent in March to a seasonally adjusted annual rate of 1.14 million units, the Commerce Department said Friday. Within this overall number, single-family starts fell 0.4 percent to 785,000 units. The multifamily sector, which includes apartment... Read More

Economy
Applications for Jobless Benefits Drop to a 49-year Low, Inflation Remains Tame
2019-04-11 20:43:28
by Dan McCue

The number of people seeking unemployment benefits in the United States fell last week to its lowest level since December 1969, the Labor Department said Thursday. The last time unemployment benefits claims were this low, Jay-Z was a newborn in... Read More

Economy
US Consumer Borrowing Slowed in February, Fed Says
2019-04-05 20:56:28
by Dan McCue

Consumer borrowing rose at a slower pace in February as a surge in the use of credit cards was offset by a slackening in demand for student loans and auto loans, the Federal Reserve said Friday. The central bank said... Read More

Economy
Job Market Rebounded in March As Employers Added 196K to Payrolls
2019-04-05 20:49:52
by Dan McCue

It may not have been March madness, but the job market rebounded strongly last month, solidly trouncing economists' expectations. The Bureau of Labor Statistics reported Friday that nonfarm payrolls grew by 196,000 jobs in March, well above the 165,000 jobs... Read More

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