NEWS ABOUT: US economy

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Today's Jobs Report? 'Call It a Wash'

192K new jobs, unemployment rate holds at 6.7%

(Newser) - Last month, the US added 192,000 jobs and the unemployment rate remained 6.7%. The immediate response seems to be free of either wails or applause. Economists had expected 200,000 new jobs and the unemployment rate dropping a bit to 6.6%—or, as Quartz put it in... More »

Unemployment Ticks Up to 6.7%

175K jobs added in February

(Newser) - Pretty decent news in today's jobs report: 175,000 jobs were added in February; economists had expected 152,000. The unemployment rate ticked up from 6.6% to 6.7%. It had been expected to drop to 6.5%, but the AP explains why you shouldn't be alarmed:... More »

US New Home Sales Hit Fastest Pace Since 2008

Sales of new homes increased 9.6% last month

(Newser) - US sales of new homes rebounded in January to the fastest pace in more than five years, offering hopes that housing could be regaining momentum after a slowdown last year caused by rising interest rates. The Commerce Department says sales of new homes increased 9.6% in January to a... More »

Good News, Economy: Workers Are Quitting

'Quit rate' is highest since recovery began

(Newser) - In November, some 1.8% of the workforce, or 2.4 million people, abandoned their jobs, the Labor Department says—and though some were retiring or leaving work behind altogether, most were exiting because they wanted to find, or had already secured, new jobs. It's the highest "quit... More »

Jobless Rate 6.6%, but That Fails to Impress

Just 113K new jobs created

(Newser) - Another disappointing jobs report: Just 113,000 jobs were created in January; economists had expected 189,000, and the average monthly gain in 2013 was 194,000. The unemployment rate did tick down to 6.6% from 6.7% , as had been expected; that's a 5-year low, the... More »

Jaws Drop Over December Jobs Report

Unemployment rate down to 6.7%, but meager 74K jobs were added

(Newser) - A pretty dismal number on today's jobs report: Just 74,000 jobs were created in December, the smallest monthly increase in three years; economists had expected 200,000. And while the unemployment rate fell to 6.7% from 7.0%, it was "for all the wrong reasons,"... More »

Economy Grew 4.1% in Q3

It's the best mark since 2011

(Newser) - The US' GDP grew at a 4.1% annualized rate in the third quarter, its best showing since the last three months of 2011, the Commerce Department announced today. The number is revised upward from the Department's initial 3.6% estimate. Economists surveyed by Bloomberg had been expecting that... More »

Unemployment Down to 7%

203K new jobs added in November

(Newser) - Today's jobs report beat expectations, with 203,000 new jobs added in November and the unemployment rate sliding to 7.0%. Economists had expected 180,000 new jobs and an unemployment rate of 7.2%, down from October's 7.3%, the Wall Street Journal reports. The unemployment rate... More »

Krugman: This Looks Like a Permanent Depression

Evidence suggests economy may never fully recover

(Newser) - When it comes to the economy, you hear a lot of talk about "exit strategies," with monetary officials resigned to the fact that, for now, "credit must be easy and interest rates low"—just until the US gets back on its feet. "But what if... More »

Unemployment Drops to 7.2%

148K new jobs added in September, though hiring slowed

(Newser) - The September jobs report is out today, delayed thanks to the government shutdown, and it reveals that the unemployment rate ticked down to 7.2% last month, while 148,000 jobs were added. Economists had expected the rate to hold steady at 7.3%, the Wall Street Journal notes, but... More »

Record Numbers Call Themselves 'Lower Class'

Wealth gap may help explain phenomenon

(Newser) - For four decades, pollsters have been asking Americans to identify themselves by class; typically, most call themselves middle- or working-class. In the latest edition of the survey, however, a record 8.4% have dubbed themselves lower-class, the Los Angeles Times reports. That's a change from previous economic downturns, when... More »

Today's Jobs Report 'Pretty Meh'

Unemployment rate ticks down to 7.3%, 169K new jobs added

(Newser) - The unemployment rate fell to 7.3% in August, and 169,000 jobs were added, today's jobs report reveals. The rate had been expected to hold steady at 7.4%, but 175,000 new jobs were expected. On the decidedly bad-news front, the number of new jobs added in... More »

Lew: US Will Hit Debt Ceiling in October

Warns Congress it must act 'as soon as possible' to raise limit

(Newser) - Treasury Secretary Jacob Lew has given Congress until mid-October to raise the debt ceiling. That's when he predicts the Treasury will run out of "extraordinary measures" to avoid going over the $16.7 trillion borrowing limit. In a letter to lawmakers today, Lew urged them to act "... More »

Economist Presents Scary US Debt Number: $70T

James Hamilton: That's the 2012 total of off-balance-sheet federal liabilities

(Newser) - If you're worried about our country's fiscal health, you may want to stop reading. A UC San Diego economics professor sees a problem area we're overlooking: "the growth of federal liabilities that are not included in the officially reported numbers." James Hamilton did the math,... More »

Unemployment Falls to 7.4%, a 4-Year Low

...but dig deeper and jobs report starts to look pretty bad

(Newser) - Unemployment fell to a 4.5-year low of 7.4% in July, after employers added 162,000 jobs, the Labor Department announced today. But don't celebrate. That 162,000 figure was the lowest since March, and significantly less than analysts were expecting—those surveyed by Bloomberg expected to see... More »

GDP Rises 1.7%; Why That's Horrible

Neil Irwin thinks we need to do better in this economy

(Newser) - The US economy grew 1.7% last quarter, the Commerce Department announced today , which is a lot better than the 1% analysts expected. "It is what markets and the journalists who write about them like to call a 'huge beat,'" writes Neil Irwin at the Washington ... More »

Obama's Plan: Drag Your Attention Back to Economy

He'll give new series of speeches starting tomorrow

(Newser) - Natural disasters, political scandals, and stories ranging from the Middle East to Trayvon Martin have diverted the national conversation away from the economy, and President Obama is launching an effort to bring it back. The administration is planning a new batch of speeches—up to six, with the first one... More »

More Good News for Housing Market

New home sales at fastest pace in 5 years

(Newser) - Sales of new American homes rose in May to the fastest pace in five years, a solid gain that added to signs of a steadily improving housing market. The Commerce Department says sales rose 2.1% last month compared with April to a seasonally adjusted annual rate of 476,000,... More »

Unemployment Ticks Up to 7.6%

175K jobs were added in May

(Newser) - The unemployment rate ticked up a notch in May: It had been expected to remain at 7.5% , but instead went up to 7.6%, the Wall Street Journal reports. But, the AP notes, that's because more people are looking for work, which is a good thing. And while... More »

Great Lakes' Plan: Water- Based 'Blue Economy'

New businesses to include resorts, labs, manufacturing

(Newser) - Cities surrounding the Great Lakes have had it tough since their manufacturing industries dwindled—but now, they're hoping for a comeback based on an enormous resource: the Lakes themselves. "We all recognize that water has become more and more of a precious commodity," says Milwaukee mayor Tom... More »

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