economic recovery

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Jobs Report Reignites Debate Over Unemployment Benefits
Jobless Benefits Too
Generous? Debate Is Reignited
the rundown

Jobless Benefits Too Generous? Debate Is Reignited

Critics say Biden's relief package encourages people to stay home; not so, say defenders

(Newser) - The new monthly jobs report came in way below expectations on Friday, with employers hiring 266,000 people in April instead of the 1 million or so expected by analysts. The report has reignited a familiar political debate amid the pandemic, with those on the right arguing that President Biden'...

After Grueling Slog, Weary EU Leaders OK $2.1T COVID Deal

It took 4 days and nights of negotiations in Brussels

(Newser) - After four days and nights of wrangling, exhausted European Union leaders finally clinched a deal on an unprecedented $2.1 trillion budget and coronavirus recovery fund early Tuesday, after one of their longest summits ever. The 27 leaders grudgingly committed to a costly, massive aid package for those hit hardest...

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...

As Economy Improves, More Americans Pack Up and Move

Increasingly older people, many headed to Florida, new Census data finds

(Newser) - In search of greener pastures? You're not alone: More than 7 million Americans moved state last year, the highest number in four year. But it isn't just young folks seeking out new horizons, reports the Wall Street Journal , middle-aged and older Americans are increasingly the ones relocating long-distances....

For First Time in 4 Years, Americans Borrowing More

Household debts up 0.3%, perhaps showing economy rebounding

(Newser) - American household debt rose in the fourth quarter of 2012, the first rise since 2008 when the recession was in full force, reports the Wall Street Journal . Debts rose 0.3% to $11.34 trillion, including $553 billion in new mortgages, the single biggest source of consumer debt. "There...

Sales of Pricey Homes Surge
 Sales of Pricey Homes Surge 

Sales of Pricey Homes Surge

And median home price is going up

(Newser) - Another sign of economic recovery? Sales of higher-end homes—those priced above $750,000—were up 50% in November from a year prior, CNBC reports. Meanwhile, sales of the lowest-end homes fell 4%. The two factors pushed the median home price across the nation to $180,600, up about 10%...

This Is 1 of Only 3 Major US Cities in Recovery
 This Is 1 of Only 3 
 Major US Cities 
 in Recovery 
Economic Study

This Is 1 of Only 3 Major US Cities in Recovery

Pittsburgh, Dallas, Knoxville the only ones currently in economic recovery

(Newser) - Everybody knows the US economy has been struggling since the recession ended in 2009. But just how bad are things? Of the United States' 76 major metropolitan areas, just three are in economic recovery now, according to a new study by the Brookings Institution, reports Reuters . That may seem terrible,...

Housing Starts Soar to Highest Since 2008

Almost all of the growth comes in apartments, townhouses

(Newser) - The housing market might finally be coming around. The number of new homes that began construction last month took a surprise 3.6% leap to an 894,000 annual rate—the highest since July 2008, the Commerce Department announced today. That's well above the 840,000 economists surveyed by...

Jobs Are Being Created — in Fast Food

Cheap eateries are hiring, but they're not paying much

(Newser) - Next time you read a report about how many jobs the economy has added, remember that not all of them are good jobs. Food services accounted for nearly 30% of the jobs created in August, Bloomberg reports, and most of that growth is coming from fast-food chains like Wendy's...

Economy Showing Signs of Life
 Economy Showing Signs of Life 

Economy Showing Signs of Life

But it may be too late to boost Obama

(Newser) - The American economy is hardly the picture of health, but more signs of recovery are emerging in time for the closing months of the White House race, the Washington Post finds. New home construction and housing prices have jumped , hiring is up, and the number of people seeking unemployment insurance...

Fed: No New Stimulus, for Now
Fed: No New Stimulus
—for Now

Fed: No New Stimulus —for Now

Ben Bernanke and crew see the economy slowing but will stand pat

(Newser) - Wall Street has been waiting anxiously for a few days now to see what the Fed was going to do about the economy, and the answer arrived this afternoon: Nothing. For now. The Fed sees evidence that the economy has actually decelerated in recent months, reports MarketWatch , but it's...

At Long Last, 'the Housing Bust Is Over'
At Long Last, Our
'Housing Bust Is Over'

At Long Last, Our 'Housing Bust Is Over'

Market has finally turned, says 'Wall Street Journal' economics editor

(Newser) - The US housing industry is far from healthy, but the worst is behind us, writes Wall Street Journal economics editor David Wessel. "The housing bust is over," he declares, marshaling a slew of long-range stats. Among them: About 10% more existing homes were sold this May compared to...

Obama, Romney Agree: My Rival Will Wreck Economy

Candidates deliver dueling speeches in Ohio

(Newser) - President Obama and Mitt Romney gave their competing versions of how to fix the economy during Ohio speeches today, with their common advice being, don't elect that other guy. Some quotes getting play:
  • Obama: “What’s holding us back is a stalemate in Washington between two fundamentally different

How George W. Bush May Help Obama Win Re-Election

Steve Kornacki: New report makes clear our economic problems go back a ways

(Newser) - On first blush, you'd think yet another lousy economic report—this one saying that the median American family's net worth had fallen back to mid-'90s levels—would be bad news for President Obama. But there's another school of thought out there, notes Steve Kornacki at Salon...

Great, Now the Private Sector's Tanking, Too
Great, Now the
Private Sector's Tanking, Too 

Great, Now the Private Sector's Tanking, Too

Signs of life in consumer spending might help recovery, say economists

(Newser) - The private sector has been the lone strength in the US economy since 2009, with business investment and corporate earnings leading the underwhelming recovery. Until now, that is. As the dollar strengthens and economies around the world are slowing, the private sector appears headed for a tough patch, writes Paul...

'Fairy Tale' of Austerity Is Finally Dead
'Fairy Tale' of Austerity
Is Finally Dead
paul krugman

'Fairy Tale' of Austerity Is Finally Dead

Paul Krugman: Europe realizing those policies made things worse

(Newser) - Paul Krugman doesn't use the words "I told you so," but he does pronounce the notion that austerity measures would fire up Europe's economy good and dead. European policy-makers had the misguided idea—one embraced by Republicans in the US—that cutting back on spending would...

US Recovery Taking the Shine Off Gold

Prices dropping as investors gain confidence

(Newser) - Gold prices surged more than sevenfold in the decade after 2001 but after peaking at $1,920 per ounce last September, prices been falling rapidly as the US economic recovery creates better alternatives for investors, reports the Financial Times . Yesterday, gold hit a 10-week low of $1,627.68—down...

Young Adults Put Life on Hold Over Economy

But most remain upbeat about their future: Pew survey

(Newser) - The economy is doing a number on those aged 18 to 34, according to a new survey from the Pew Research Center :
  • Half say they have taken a job they didn't want.
  • More than a third have gone back to school because of the job market.
  • Nearly a quarter

Which Path for Obama— Reagan or Bush the Elder?

Economy could propel him to re-election, or doom him

(Newser) - The better-than-expected jobs report yesterday lifts President Obama's chances of re-election, but the Wall Street Journal points out that he's going to need more good news if history is any guide. It could go one of two ways, a la Ronald Reagan or George HW Bush. At the...

Bernanke: Full Recovery Years Away

Fed says inflation on target, but unemployment high, growth sluggish

(Newser) - Don't get too excited about that pending economic rebound . The Federal Reserve's announcement it will keep interest rates super-low into 2014 is a key sign that the US economy is years away from truly recovering, reports the New York Times . Yes, the economy has picked up "moderately,...

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