Keyword: obamanomics

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  • Oakland Kids Get A Raise From The New Minimum Wage

    03/29/2015 8:41:47 AM PDT · by Oldeconomybuyer · 49 replies
    NPR ^ | March 25, 2015 | by SAVANNAH ROBINSON
    Eighteen-year-old Alicia Donaldson works at a busy McDonald's in East Oakland. Her job is more complicated than anyone might think. "When you do the grill and the chicken by yourself, it's not easy," she admits. "You have to put down the meat on the grill, and then put chicken in the grease. People get burned a lot." That's a lot of pain for only $9 an hour. Today it's still hard work, but now Alicia is making $12.25 instead. "When I worked 56 hours my check was about $480," she remembers. This month the highest minimum wage in the nation...
  • Consumer Sentiment Slips in March on Bad Weather

    03/27/2015 7:57:54 AM PDT · by Oldeconomybuyer · 7 replies
    ABC News ^ | March 27, 2015 | By PAUL WISEMAN AP Economics Writer
    Bad weather and rising gasoline prices pushed U.S. consumer sentiment a bit lower in March. The March drop in confidence was caused entirely by falling confidence among low-income households, which are especially sensitive to high utility bills in the winter. Michigan's Curtin predicted that an improving job market would boost consumer spending the rest of the year.
  • Retail sales slide for third month in a row

    03/12/2015 6:47:53 AM PDT · by Oldeconomybuyer · 17 replies
    Market Watch ^ | March 12, 2015 | by Jeffry Bartash
    Sales at U.S. retailers fell in February for the third month in a row, as most stores fared poorly with the notable exception of gasoline stations. Retail sales, which account for about one-third of consumer spending, fell 0.6% last month, following even larger declines in January and December, the government reported Thursday. Economists polled by MarketWatch had expected a 0.3% gain. Poor weather was almost certainly a factor. A series of snow storms wracked the eastern half of the country in February, making it harder for Americans to move around. Sales even sank 0.6% at restaurants and bars, marking the...
  • Biden: Running away from Obama in 2016 would be ‘mistake’ for Dems

    02/12/2015 9:52:51 PM PST · by PROCON · 40 replies
    washingtontimes ^ | Feb. 12, 2015 | Dave Boyer
    Vice President Joseph R. Biden said Democratic presidential candidates in 2016 should embrace President Obama’s economic policies and “run on what we have done” instead of running away from the administration. “In my view, those seeking to lead the nation should protect and defend and run, yes run, on what we’ve done and own what we have done,” Mr. Biden said in a speech in Des Moines, Iowa. “Stand for what we have done. Acknowledge what we have done. And be judged on what we have done, if we have any chance for continued resurgence in 2016.” He added, “Some...
  • After 2 historic months of jobs growth, Illinois still lagging

    02/05/2015 8:17:17 PM PST · by george76 · 8 replies
    Illinois Policy ^ | February 3 2015 | Michael Lucci
    Illinois still lays claim to the worst recession recovery in the nation. According to the BLS household survey, there are still 216,000 fewer Illinoisans working than when the Great Recession began, the worst of any state and one of only 22 states that still have fewer people working than when the recession started. .... The business-establishment survey for the 2008-2014 period shows 114,000 fewer payroll jobs in Illinois than when the recession began, the second-worst record of any state, and one of only 15 states yet to break even on the recession. Only New Jersey is down more payroll jobs....
  • 257,000 jobs added in Jan.; unemployment rate ticks up to 5.7%

    02/06/2015 5:45:22 AM PST · by SoFloFreeper · 26 replies
    Boston Globe ^ | 2/6/15 | Christopher S. Rugaber
    .....The unemployment rate rose to 5.7 percent from 5.6 percent. But that’s not necessarily a bad thing. More Americans began looking for jobs, though not all found work. Their job hunting suggests they are more confident about their prospects.
  • Obama’s record budget: Tax the rich, help middle class

    02/02/2015 2:22:38 PM PST · by Olog-hai · 16 replies
    Associated Press ^ | Feb 2, 2015 4:24 PM EST | Andrew Taylor
    Promising to help America’s middle class, President Barack Obama on Monday sent Congress a record $4 trillion budget that would hammer corporate profits overseas and raise taxes on the wealthy while boosting tax credits for families and the working poor. Obama’s budget also would steer hundreds of billions of dollars to the nation’s crumbling infrastructure of roads and bridges, help provide two years of free community college and reverse the across-the-board, automatic budget cuts that have slammed the Pentagon and nearly every government department. In the face of certain opposition from Republicans, an optimistic Obama hailed a “breakthrough year for...
  • Dow hit by Microsoft, Caterpillar; data disappoint

    01/27/2015 11:20:09 AM PST · by Mad Dawgg · 23 replies
    CNBC.com ^ | 1/27/2015 | Kate Gibson
    U.S. stocks dropped sharply on Tuesday, with the Dow positioned for its worst hit since October, as corporations reported earnings that disappointed and orders for U.S. business equipment unexpectedly declined in December. "If you live in the northeast, and you work from home, you're trying to figure out why the market is down 400 points," Art Hogan, market strategist at Wunderlich Securities, referring to the snowstorm that halted transit in and around New York City overnight before ending earlier Tuesday. It's a combination of an increase in volatility when you have a decrease in volume, and a transition period between...
  • Fannie, Freddie 3%-down mortgages can be safe, FHFA director says

    01/27/2015 10:15:40 AM PST · by Oldeconomybuyer · 15 replies
    Market Watch ^ | January 27, 2015 | By Steve Goldstein
    WASHINGTON — Mortgages with low down payments can be just as safe if other underwriting conditions are met, a federal housing regulator said Tuesday. Mel Watt, the director of the Federal Housing Finance Agency, was testifying in front of the House Financial Services Committee, after Fannie Mae FNMA, +0.47% and Freddie Mac FMCC, +0.47% both started making mortgages available to those who make down payments of just 3%. That has raised the ire of Republicans, who say the move risks a repeat of the housing bubble. “All things being equal, is a 3% down loan riskier to the taxpayer than...
  • U.S. durable-goods orders plunge 3.4% in December

    01/27/2015 5:44:57 AM PST · by Oldeconomybuyer · 20 replies
    Market Watch ^ | January 27, 2015 | By Greg Robb
    Orders for durable U.S. goods plunged 3.4% in December, the fourth decline in the past five months, the Commerce Department said Tuesday. The decline was well below expectations. Economists surveyed by MarketWatch had expected durable-goods orders to rise 0.1%. Adding to the sense of weakness, durable-goods orders for November were revised up to show a 2.1% decline instead of a drop of 0.9%.
  • ‘Poor people don’t plan long-term. We’ll just get our hearts broken’

    01/26/2015 12:46:36 AM PST · by CorporateStepsister · 45 replies
    The Guardian ^ | Sunday 21 September 2014 | Linda Tirado
    In the autumn of 2013 I was in my first term of school in a decade. I had two jobs; my husband, Tom, was working full-time; and we were raising our two small girls. It was the first time in years that we felt like maybe things were looking like they’d be OK for a while. After a gruelling shift at work, I was unwinding online when I saw a question from someone on a forum I frequented: Why do poor people do things that seem so self-destructive? I thought I could at least explain what I’d seen and how...
  • More homeless camps are appearing beyond downtown L.A.´s skid row

    01/25/2015 4:26:48 PM PST · by Nachum · 25 replies
    L.A.Times ^ | 1/25/15 | Gale Holland
    Evicted four months ago from their Highland Park apartment, Louis Morales and his 18-year-old stepson, Arthur Valenzuela, live half-hidden by brush along the nearby Arroyo Seco riverbed. Morales, 49, keeps a framed bible verse and a stuffed monkey in his tent. Water hauled by bike from a park heats up on the camp stove. Next door, their friend Johnny Salazar fixes bikes and shattered computer screens on the cheap for people who live in the neighborhood. A brother and sister Morales has known for years live up the river, and three couples stay down by the bridge. "Everybody here is...
  • US Steel to lay off more than 350 at Indiana tin mill

    01/22/2015 1:46:47 PM PST · by Olog-hai · 43 replies
    Associated Press ^ | Jan 22, 2015 2:02 PM EST
    U.S. Steel says it will lay off more than 350 workers in East Chicago, Indiana, as it plans to temporarily close its tin mill. Company spokeswoman Sarah Cassella tells The Times in Munster that layoffs will begin in mid-March. She declined to comment on how long the plant will be closed for. Cassella says low-priced tin product imports have hurt domestic business. …
  • Is your local news using WH.gov propaganda video?? Seeing it in Miami....cult worship....

    01/20/2015 5:30:58 AM PST · by SoFloFreeper · 9 replies
    1/20/15 | sff
    Just saw a local Miami tv station using video from the government web site with an "interview" of Obama, where he spews some crap about how his goal is to outline for the nation how he is going to make sure things are fair, now that we have "made it through the crisis". I nearly spit my coffee out. We are not out of a crisis. My point is that these kind of videos are NOT a proper use for news....and I expect that if a REPUBLICAN president put out this type of "interview", the media would ignore it....on the...
  • Family Witnesses Bigfoot Squatting Among Abandoned Detroit Homes

    02/19/2014 7:35:54 PM PST · by DogByte6RER · 54 replies
    Cryptozoology News ^ | February 15th, 2014 | Michael Bachman
    Bigfoot Living Among the Ruins of Detroit! DETROIT (Cryptozoology News) — A family claim they saw a strange ape-like creature Thursday afternoon coming out of the window of an abandoned house on the outskirts of the desolate city. C. Brown, his wife, and their two children said they were “driving around, looking to buy a new house”, when they allegedly witnessed the unidentified beast. “The economy has been devastating here man,” Brown explained. “One day, you are living in this beautiful city with over a million and a half working people, next day all you know is all is gone…crime...
  • Econ book acclaimed by left based on faulty premise, factual errors, study finds

    01/06/2015 4:27:38 PM PST · by Bob · 18 replies
    Fox News ^ | January 06, 2015 | Maxim Lott
    A book by a French economist who became a darling of 99 percenters and his lefty peers is riddled with errors, cherry-picked data and flawed premises, according to two new studies. Thomas Piketty's “Capital in the 21st Century,” which New York Times columnist and Nobel-prize winner Paul Krugman called “the most important economics book of the year — and maybe of the decade,” calls for an 80 percent income tax to stop wealth inequality from increasing. The book earned its author an invitation to the White House to meet with Obama administration Treasury Secretary Jack Lew. ... ... The recent...
  • Why Is The Fed Hiring An "Emergency Preparedness Specialist Familiar With DHS Directives"

    12/31/2014 2:54:05 PM PST · by Kartographer · 31 replies
    Zerohedge ^ | 12/31/14 | Tyler Durden
    So the Fed is hiring not just any "emergency preparedness specialist" but one familiar with DHS directives? Here are the details of the position located in Washington, DC: Position Description The Emergency Preparedness & Response Specialist is a professional in the field of emergency preparedness. This individual serves as the coordinator in the Management Division (MGT Div.) for emergency preparedness, encompassing the development, coordination, and implementation of: unified planning, disaster preparedness, response and recovery, policies and procedures, emergency preparedness and exercise program training for Board staff, and coordination with other federal departments and local agencies such as the Metropolitan Police...
  • They are preparing for you

    12/27/2014 9:45:42 AM PST · by kindred · 41 replies
    conservativenewsandviews.com ^ | December 19, 2014 | Dwight Kehoe
    A wheelbarrow of money to buy a loaf of bread. This is what Obama, with his fiscal cliff plan, threatens us with. For many years now we have heard chilling tales about that elusive, powerful and manipulative entity conspiracy theorists have called “The New World Order”. Not only have the members of this group managed for the most part to remain anonymous, but their agenda has remained mysterious and obscure. So much so that many good people have been perfectly fine with ignoring its existence or viability. Whether or not this New World Order is in lockstep with World Communism...
  • The Vanishing Male Worker: How America Fell Behind

    12/11/2014 3:45:29 PM PST · by 2ndDivisionVet · 57 replies
    The New York Times ^ | December 11, 2014 | Binyamin Appelbaum
    ANNAPOLIS, Md. — Frank Walsh still pays dues to the International Brotherhood of Electrical Workers, but more than four years have passed since his name was called at the union hall where the few available jobs are distributed. Mr. Walsh, his wife and two children live on her part-time income and a small inheritance from his mother, which is running out. Sitting in the food court at a mall near his Maryland home, he sees some of the restaurants are hiring. He says he can’t wait much longer to find a job. But he’s not ready yet. “I’d work for...
  • Labor Force Participation Remains at 36-Year Low

    12/05/2014 3:37:12 PM PST · by george76 · 7 replies
    CNS News ^ | December 5, 2014 | Ali Meyer
    The labor force participation rate remained at a 36-year low of 62.8 percent in November, according to the Bureau of Labor Statistics. The participation rate, which is the percentage of the civilian noninstitutional population who participated in the labor force by either having a job during the month or actively seeking one, was 62.8 percent in November which matches the percentage since March 1978. In November, according to BLS, the nation’s civilian noninstitutional population, consisting of all people 16 or older who were not in the military or an institution, reached 248,844,000. Of those, 156,397,000 participated in the labor force...
  • It’s official: America is now No. 2

    12/04/2014 6:42:48 AM PST · by Oldeconomybuyer · 23 replies
    Market Watch ^ | December 4, 2014 | By Brett Arends
    There’s no easy way to say this, so I’ll just say it. We’re no longer No. 1. Today we’re No. 2. Yes, it’s official. The Chinese economy just overtook the United States economy to become the largest in the world. For the first time since Ulysses S. Grant was president, America is no longer the leading economic power on the planet. It just happened — and almost nobody noticed. The International Monetary Fund recently released the latest numbers for the world economy. And when you measure national economic output in “real” terms of goods and services, China will this year...
  • Obama to business leaders: Raise wages

    12/03/2014 2:30:46 PM PST · by Oldeconomybuyer · 40 replies
    MSNBC ^ | December 3, 2014 | By Zachary Roth
    In remarks that underscored an emerging concern about the direction of the economy, President Obama told business leaders Wednesday that, despite record corporate profits, stagnant wage growth is creating anxiety among workers. Obama [said] that the shrinking of wages and income as a share of overall GDP had caused an “undertow” of pessimism, despite the improving economy, and said giving workers a raise would benefit corporations, too. “When wages are good, and consumers feel like they’ve got money in their pockets, that ends up being good for business not bad for business,” he said. Obama appeared relaxed and at ease,...
  • Total US Debt Rises Over $18 Trillion; Up 70% Under Barack Obama

    Tyler Durden 12/01/2014 Last week, total US debt was a meager $17,963,753,617,957.26. Two days later, as updated today, on Black Friday, total outstanding US public debt just hit a new historic level which probably would be better associated with a red color: as of the last work day of November, total US public debt just surpassed $18 trillion for the first time, or $18,005,549,328,561.45 to be precise, of which debt held by the public rose to $12,922,681,725,432.94, an increase of $32 billion in one day.(snip)
  • How Much Obamanomics Has Cost Us

    12/01/2014 6:45:49 PM PST · by george76 · 6 replies
    Heritage Foundation ^ | November 29, 2014 | Stephen Moore
    What has been the price tag for the audacious Obamanomics experiment? How much has it all cost — the bailouts, the debt, the stimulus plans, the printing of cheap money, Obamacare and all the rest? The answer to that question is just north of $10 trillion. That’s the sum of the $8.3 trillion added to the national debt since Sept. 15, 2008 (the day Lehman Brothers filed bankruptcy) for all the government spending, and the $3.5 trillion of easy money flushed into the economy by the Federal Reserve through the initial monetary expansion and three rounds of quantitative easing. If...
  • Obama to Introduce Sweeping New Controls on Ozone Emissions

    11/26/2014 6:55:54 AM PST · by Oldeconomybuyer · 18 replies
    New York Times ^ | November 25, 2014 | By CORAL DAVENPORT
    The Obama administration is expected to release on Wednesday a contentious and long-delayed environmental regulation to curb emissions of ozone, a smog-causing pollutant linked to asthma, heart disease and premature death. The sweeping regulation, which would aim at smog from power plants and factories across the country, particularly in the Midwest, would be the latest in a series of Environmental Protection Agency controls on air pollution that wafts from smokestacks and tailpipes. Such regulations, released under the authority of the Clean Air Act, have become a hallmark of President Obama’s administration. Environmentalists and public health advocates have praised the E.P.A....
  • Child homelessness at historic high in US (Thanks 0bama!)

    11/17/2014 7:40:05 AM PST · by Uncle Miltie · 41 replies
    The number of homeless children in the U.S. has surged in recent years to an all-time high, amounting to one child in every 30, according to a comprehensive state-by-state report that blames the nation’s high poverty rate, the lack of affordable housing and the impacts of pervasive domestic violence. Titled “America’s Youngest Outcasts,” the report being issued Monday by the National Center on Family Homelessness calculates that nearly 2.5 million American children were homeless at some point in 2013. The number is based on the Department of Education’s latest count of 1.3 million homeless children in public schools, supplemented by...
  • Obama Admin Appointee Admits few net jobs created

    11/17/2014 7:17:25 AM PST · by Academiadotorg · 8 replies
    Accuracy in Academia ^ | November 14, 2014 | Spencer Irvine
    An Obama Administration appointee admits there have been “few net jobs created” over the past decade but thinks increased spending on education will solve the problem. At the Center for American Progress, the White House Deputy Director of the Domestic Policy Council, James Kvaal, said, “The overriding goal of his second term in office is rebuilding the strength of the middle class and after recovering from the greatest economic crisis since the Great Depression.” He claimed, “We now have an economy that is growing again; ten million new jobs have been created.” Americans now see “rising middle class standards” under...
  • United Way study finds working families struggling to get by

    11/13/2014 9:51:03 AM PST · by SoFloFreeper · 21 replies
    Miami Herald ^ | 11/11/14 | JENNY STALETOVICH
    Almost half the residents of Florida, including much of the state’s glitzy southern half, are barely getting by, living below the federal poverty level or struggling to pay for food, housing, childcare and other basic needs, according to a United Way study released Tuesday.
  • SEC to focus on executive-compensation rules, White says

    11/10/2014 8:51:18 AM PST · by Oldeconomybuyer · 4 replies
    Market Watch ^ | November 10, 2014 | By Eric Garcia
    Securities and Exchange Commission Chairwoman Mary Jo White said the agency will be focused on implementing rules on executive compensation. “We have three or four [rules] yet to finish, including the clawbacks,” she said in an interview with CNBC at the Securities Industry and Financial Markets Association. The agency has already adopted six rules regarding executive compensation. Under the Dodd-Frank law, the SEC is required to create rules to return compensation that was improperly received, called “clawbacks,” and create a rule to prevent securities exchanges from listing securities of companies that have not implemented such a policy. White said among...
  • Why many aren’t celebrating low US unemployment (disingenuous AP)

    11/08/2014 9:32:08 AM PST · by Olog-hai · 32 replies
    Associated Press ^ | Nov 8, 2014 11:53 AM EST | Josh Boak
    The unemployment rate no longer seems to reflect America’s mood. Friday’s strong jobs report showed that the jobless rate—the most closely watched gauge of the economy’s health—is down to 5.8 percent. A year ago, the rate was 7.2 percent. Five years ago, it was 10 percent. It’s the kind of sustained decline that would normally suggest a satisfied public. Not so much anymore. […] Many Americans don’t feel they've benefited from falling unemployment any more than they have from a sustained rise in the stock market or from solid U.S. economic growth. Some hints of their discontent can be found...
  • The Jobs Report Is Even Better Than It Looks

    11/07/2014 1:20:17 PM PST · by Oldeconomybuyer · 23 replies
    New York Times ^ | November 7, 2014 | by Justin Wolfers
    The topline of this morning’s jobs report shows nonfarm payrolls expanding by 214,000 jobs in October. It’s the sort of number that suggests a narrative of a continuing, albeit disappointing, economic recovery. But dig a little deeper and you find a much sunnier story. When read carefully, today’s report provides more evidence that the labor market is improving quite rapidly, and that the recovery has gained momentum over the past year. The old saying is that the devil is in the details. Today’s report suggests just the opposite — dig into the details, and you’ll find a much sunnier story...
  • President Barack Obama's Legacy Pitch

    10/30/2014 8:35:37 AM PDT · by pabianice · 19 replies
    Politico ^ | 10/30/14 | Brown, Epstein
    Speaking to a mostly white college audience: "“This progress has been hard but it has been steady and it has been real,” Obama said at Northwestern University on Oct. 2. “And it’s the direct result of the American people’s drive and their determination and their resilience, and it’s also the result of sound decisions made by my administration. So it is indisputable that our economy is stronger today than when I took office.” Obama griped to party donors several days later that his accomplishments are a mystery even to his most loyal supporters. “Most of you don’t know the statistics...
  • U.S. initial jobless claims tumble to 264,000, hit lowest level in more than 14 years

    10/16/2014 5:41:10 AM PDT · by Oldeconomybuyer · 9 replies
    Market Watch ^ | October 16, 2014
    WASHINGTON -- The number of people who applied for U.S. jobless benefits fell 23,000 to 264,000 in the week that ended Oct. 11, hitting the lowest level since April 2000, showing that employers are laying off few workers, according to government data released Thursday.
  • Obama’s approval rating falls in deep-blue states

    09/24/2014 10:55:32 AM PDT · by Oldeconomybuyer · 22 replies
    The Hill ^ | September 24, 2014 | By Justin Sink
    Just weeks after President Obama's approval rating hit record lows in the liberal bastion of California, a new survey shows the president in trouble in another deep blue state: New York. Only 39 percent of registered New York voters surveyed in a Marist College poll said Obama is doing an "excellent" or "good" job, the lowest level for Obama in the poll since the beginning of his presidency. Sixty-one percent of survey respondents judged Obama as doing a "fair" or "poor" job in office.
  • Obamanomics victimizes president’s biggest supporters most: Minorities, single women, youths hardest

    09/14/2014 6:24:40 PM PDT · by george76 · 20 replies
    Washington Times ^ | September 12, 2014 | Stephen Moore
    June 2009 to June 2014.” This report found, depressingly, that five years into an “economic recovery,” real median household income “is now 3.1 percent below that of June 2009 when the ‘great recession’ officially ended.” In dollar terms, real median household income fell by $1,698. So much for the Obama claim on Labor Day that “by nearly any measure, the economy is doing better.” Well, actually, for more than half of Americans, their personal financial situation is worse. ... the poor and unskilled that Mr. Obama says he cares so much about saw their incomes fall by 7.4 percent for...
  • U.S. jobless claims rise unexpectedly, but still at pre-recession levels

    09/11/2014 5:46:57 AM PDT · by Oldeconomybuyer · 15 replies
    Reuters ^ | September 11, 2014 | By Lucia Mutikani
    The number of Americans filing new claims for unemployment benefits unexpectedly rose last week, but that probably does not signal a material shift in labor market conditions as claims remain near their pre-recession levels. Initial claims for state unemployment benefits increased 11,000 to a seasonally adjusted 315,000 for the week ended Sept. 6, the highest level since late June, the Labor Department said on Thursday. Claims for the prior week were revised to show 2,000 more applications received than previously reported.
  • Record Milk Price Signals Higher Prices for Pizza, Pastries

    09/08/2014 6:59:39 PM PDT · by SoFloFreeper · 13 replies
    Milk futures rose to a record high price Monday as exports by the U.S. climbed amid shrinking inventories of cheese and butter, signaling higher costs for pizza and pastries. The U.S. shipped a record 17 percent of milk production in the first half, according to Alan Levitt, a spokesman at the U.S. Dairy Export Council. Cheese stockpiles in July dropped 8 percent from a year earlier, and butter supplies tumbled 42 percent, the Department of Agriculture said last month. U.S. dairy costs are higher than world prices, signaling imports will increase, said Jon Spainhour, a partner at Rice Dairy LLC.
  • Detroit's Under-Funded Fire Departments Use a Soda Can For a Fire Alarm

    09/07/2014 2:10:22 PM PDT · by DogByte6RER · 39 replies
    Gizmodo ^ | Sptember 6, 2014 | Robert Sorokanich
    Detroit's Under-Funded Fire Departments Use a Soda Can For a Fire Alarm Where absent money leaves gaps, ingenuity fills in. Nowhere is that more true than in Detroit's fire departments, where, as Detroit Free Press reporter Tresa Baldas shows us, a soda can full of jangling coins and screws alerts the Motor City's long-suffering heroes when there's an emergency. The system is brilliantly simple: A soda can full of rattling metal is balanced on top of the fire department's printer at the end of the tray. When the printer spits out an emergency alert, the paper knocks over the can....
  • U.S. Job Growth Slips in August After Months of Bigger Gains

    09/05/2014 6:31:39 AM PDT · by Oldeconomybuyer · 12 replies
    New York Times ^ | September 5, 2014 | By NELSON D. SCHWARTZ
    American employers hired at a surprisingly weak pace in August, even as the unemployment rate fell slightly, the Labor Department said Friday. Economists, along with politicians, have been hoping to see a significant rebound in the participation rate as unemployment drops and hiring picks up, but progress on this front has failed to materialize.
  • August job growth worst of the year: 142K

    09/05/2014 6:14:01 AM PDT · by SoFloFreeper · 17 replies
    The Hill ^ | 9/5/14 | Vicki Needham
    The U.S. economy added 142,000 jobs in August, well below expectations and breaking a six-month streak of gains above 200,000...
  • U.S. Jobless Claims Rose 4,000 Last Week

    09/04/2014 6:34:15 AM PDT · by SoFloFreeper · 3 replies
    Wall Street Journal ^ | 9/4/14 | House & Mitchell
    The number of new applications for jobless benefits rose last week but stayed near 2014 lows, a new indication of an improving labor market. Initial claims for unemployment benefits increased by 4,000.... ... four-week moving average of claims, which smooths out weekly volatility, rose 3,000 to 302,750.....
  • Report: Households See Electricity Prices Rising At Record Levels

    09/02/2014 5:16:20 PM PDT · by george76 · 42 replies
    Daily Caller ^ | 09/02/2014
    Electricity prices are on the rise across the country, according to federal government data. The average price has risen more than 3 percent since the same time last year — the highest year-over-year growth for the first half of the year since 2009. According to the U.S. Energy Information Administration, residential electricity prices — what households pay to keep the lights on — averaged 12.3 cents per kilowatt hour for the first half of this year. This is 3.2 percent above the average price this time last year. New England, however, saw prices rise significantly more than the national average....
  • U.S. consumer spending falls for first time in six months

    08/29/2014 5:47:16 AM PDT · by Oldeconomybuyer · 7 replies
    Market Watch ^ | August 29, 2014 | By Jeffry Bartash
    Consumer spending fell in July for the first time in six months, as Americans cut back on purchases of new cars and other retail goods, the government reported Friday. The drop in spending was a bit of a surprise: economists polled by MarketWatch had predicted a seasonally adjusted 0.1% increase. The growth in incomes, meanwhile, slowed to 0.2% pace in July from 0.5% in each of the prior two months. It was the smallest gain since December and also below Wall Street expectations.
  • CBO revises estimate, warns U.S. economic growth will underwhelm in 2014

    08/27/2014 1:35:40 PM PDT · by SeekAndFind · 25 replies
    Hotair ^ | 08/27/2014 | Noah Rothman
    The Congressional Budget Office released a bit of a good news/bad news report on Wednesday regarding the state of the U.S. economy and federal budget. In the bad news column, CBO projected 2014’s GDP growth at just 1.5 percent. The report blamed this revision on “the surprising economic weakness in the first half of the year.” In early June, the International Monetary Fund projected the United States to grow by just 2 percent this year, revising its own estimate down from a previously anticipated 2.7 percent GDP expansion. This report is not likely to be warmly greeted by the...
  • 'Scary' correction is coming: Analyst

    08/27/2014 9:16:01 AM PDT · by Citizen Zed · 58 replies
    cnbc ^ | 8-27-2014
    The Fed's low interest rates could bring a "scary" 50-60 percent market correction, technical analyst Abigail Doolittle told CNBC on Wednesday. "Unfortunately, I think it could come on a crash similar to what happened in 2007," the founder of Peak Theories Research said on " Squawk Box " a day after the S&P 500 closed above the 2,000 level for the first time ever. "It's tough to know what the exact catalyst will be. But that's the very nature of that kind of selloff. They start slowly and then happen very suddenly." Doolittle pointed to a 20-year chart of the...
  • CBO forecasts $506 billion budget deficit for 2014 (1.5% GDP)

    08/27/2014 7:41:15 AM PDT · by Oldeconomybuyer · 10 replies
    Market Watch ^ | August 27, 2014 | By Robert Schroeder
    The Congressional Budget Office on Wednesday raised its estimate of the federal government’s budget deficit for the current fiscal year as it slashed its growth forecast, and warned red ink was due to rise in coming years if Washington doesn’t change current laws. In an update of budget and economic projections for 2014 to 2024, the nonpartisan CBO said the U.S. government’s deficit for fiscal 2014 will be $506 billion, or 2.9% of gross domestic product. The new estimate is $14 billion more than the agency’s prior estimate for the year, issued in April. The agency lowered its projection of...
  • The FDA's New Food Regulations Are A Recipe For High Food Prices

    08/27/2014 5:33:40 AM PDT · by SoFloFreeper · 14 replies
    Forbes ^ | 8/22/14 | Julie Gunlock
    Food prices continue to go up and consumers are feeling the pinch. According to the Bureau of Labor Statistics, the price of food has spiked to its highest rate since September 2011. Consumers are now paying more for such staples as ground beef, chicken and turkey, eggs, bacon, citrus fruit, coffee, peanut butter, and margarine. Normally, politicians would try to alleviate this financial strain on American families. Yet, this administration seems to want to make food more expensive.
  • Another survey finds manufacturers less willing to hire due to Obamacare

    08/25/2014 8:24:00 AM PDT · by Oldeconomybuyer · 12 replies
    Market Watch ^ | August 25, 2014
    Fresh off a Philadelphia Fed survey of manufacturers finding that the Affordable Care Act is acting as a drag on hiring and increasing part-time employment, a Dallas Fed survey finds the much same thing. Like the Philly Fed survey, it was tacked on to an existing monthly survey of conditions. In this case, a net 23.5% of respondents say the number of workers employed is lower due to the effects of what’s commonly called Obamacare. Part-time work is up, the amount of work outsourced is up, wages and salary compensation per worker is down, other benefits are down, and prices...
  • Millions helped by Obama health law may get hit with reduced tax refunds unless they act soon

    08/25/2014 3:34:36 AM PDT · by SoFloFreeper · 35 replies
    AP via Fox ^ | 8/25/14 | AP hack
    Taxes? Who wants to think about taxes around Labor Day? But if you count on your tax refund and you're one of the millions getting tax credits to help pay health insurance premiums under President Barack Obama's law, it's not too early. Here's why: If your income for 2014 is going to be higher than you estimated when you applied for health insurance, then complex connections between the health law and taxes can reduce or even eliminate your tax refund next year.
  • More Than A Thousand Stood Under Heat & Sun For Free Food In Miami

    08/22/2014 12:54:49 PM PDT · by SoFloFreeper · 71 replies
    CBS Miami ^ | 8/22/14
    More than a thousand locals lined up Friday morning for several hours under the scorching sun and heat in Miami for a box full of food. The event located at the Central Shopping Plaza at 3825 NW 7th Street started at 9:00 a.m.