US economy

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Unemployment Rate Lowest Since 2008

It hits 5.8%, with 214K jobs added in October

(Newser) - The unemployment rate ticked down from 5.9% to 5.8% last month, its lowest level since July 2008, the AP reports. And 214,000 jobs were added; 233,000 had been expected, per the Wall Street Journal's forecast, with the unemployment rate expected to stick at 5.9%.... More »

CIA Analyst: Next Great Depression 'About to Strike'

Jim Rickards sees bad news in the Fed's 'Misery Index'

(Newser) - A CIA analyst known for his dire economic predictions is speaking up again, warning that the next Great Depression may be right around the corner. Jim Rickards, a "financial threat and asymmetric warfare adviser" for the CIA, tells Money Morning that Americans should be preparing for a $100 trillion... More »

Unemployment Rate Hits 6-Year Low: 5.9%

As 248K new jobs added

(Newser) - We saw what the AP terms a "burst of hiring" last month, with US employers adding 248,000 jobs and the unemployment rate dropping to its lowest level since July 2008—5.9%. Economists had expected 215,000 new jobs and the unemployment rate to hold at 6.1%,... More »

Today's Jobs Report: Not Great

Just 142K jobs added in August; unemployment down to 6.1%

(Newser) - Economists expected 225,000 jobs to be created in August—but today's jobs report reveals that just 142,000 were added, the "lowest level of job growth" seen this year and "well below" the average of 212,000 we've seen over the past year, the Wall ... More »

July's Jobs Report: 'Goldilocks-esque'

209K jobs added, unemployment ticks up to 6.2%

(Newser) - Not much surprising news in today's jobs report: The economy added 209,000 jobs, when 230,000 had been expected, according to the Wall Street Journal ; the unemployment rate ticked up to 6.2%, when it had been expected to remain 6.1%. Michael J. Casey sums things up... More »

Economy Surged at 4% Rate in Spring

Further growth expected in 2014; revisions show fast growth in 2013

(Newser) - After a dismal winter, the US economy sprang back to life in the April-June quarter, growing at a fast 4% annual rate on the strength of higher consumer and business spending. That beat economists' expectations, the New York Times notes. The Commerce Department says the second-quarter rebound followed a sharp... More »

White House: Cut Carbon Now, or Pay $150B a Year Later

Climate change costs could jump 40% each decade

(Newser) - When it comes to climate change, the United States can pay to cut carbon emissions now, or we can pay about $150 billion a year down the road as costs soar by about 40% a decade, according to a White House Council of Economic Advisers analysis out today, as per... More »

US Economy Shrank 2.9%— Worst Since '09

Number much higher than expected

(Newser) - The US economy shrank at a staggering annual rate of 2.9% in the January-March quarter as a harsh winter contributed to the biggest contraction since the depths of the recession five years ago. The Commerce Department says the first-quarter contraction was even more severe than the 1% annual decline... More »

A Nuclear War Would ... Boost Property Values?

Americans would be 'relatively' wealthier, says 1969 report

(Newser) - Sure, nuclear attacks on the US could level populated areas—but two papers conclude that Americans would see an economic upside, Medium reports. The first, a 1969 report by the Institute for Defense Analyses, looks at a possible nuclear strike on Houston, Texas. It says that Americans would be "... More »

Interest Rates Won't Be Rising Anytime Soon

Fed wraps up meeting, cuts growth forecast

(Newser) - The Federal Reserve has sharply cut its forecast for US growth this year, reflecting a shrinking economy last quarter caused mostly by harsh weather. At the same time, the Fed has barely increased its estimate of inflation despite signs that consumer price increases are picking up. Its benign inflation outlook... More »

Jobless Rate Down—and So Is Job Security

Companies reluctant to take risks on long-term hires

(Newser) - The unemployment rate may be down to 6.3% , but that doesn't mean the jobs we have are permanent. The New York Post points to an increasing number of "temp-to-hire" workers, who may be working 40-hour weeks but lack job security and miss out on benefits. Some 3%... More »

We've Finally Regained All the Jobs Lost in Downturn

Jobs report shows 217K new jobs in May, unemployment at 6.3%

(Newser) - Today's jobs report shook out slightly better than expected. Last month, 217,000 jobs were added, while economists had expected 210,000; the unemployment rate remained at 6.3%, while economists had expected it to tick up to 6.4%. That's the fourth straight month of "solid... More »

Economy Shrank 1% in Q1

It's the first time since 2011—but it's temporary: economists

(Newser) - For the first time since 2011, the US economy shrank in the first quarter—by 1%. Economists expected a 0.5% drop, but tell the AP that the Q1 numbers had to do with the harsh winter. Thanks to stronger manufacturing, faster job growth, and more retail spending, the fall... More »

Unemployment Plunges to 6.3% —From 6.7%

As jobs report shows 288K jobs were created last month

(Newser) - Today's jobs report shook out far better than economists had expected: In April, 288,000 jobs were created, and the unemployment rate dropped to 6.3% from 6.7% . The expectations had been 215,000 and 6.6%, the Wall Street Journal reports. Those 288,000 jobs mark the... More »

Economic Growth Plummets to 0.1%

Weaker-than-predicted figure blamed on weather

(Newser) - The US economy slowed drastically in the first three months of the year as a harsh winter exacted a toll on business activity. The sharp slowdown, while worse than expected, is likely to be temporary as growth rebounds with warmer weather. The economy's growth slowed to a barely discernible... More »

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 »

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