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Keyword: economy

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  • Jobless claims fall to the lowest level since 1969

    07/19/2018 6:59:01 AM PDT · by GonzoII · 45 replies
    Washington Examiner ^ | July 19, 2018 | Joseph Lawler
    New claims for unemployment benefits fell 8,000 to 207,000 in the second week of July, the Department of Labor reported Thursday morning, the lowest such number since 1969. Forecasters had expected new jobless claims to edge up to around 220,000. Instead, fewer people sought unemployment insurance than anytime in 48 years. Thursday's benchmark is especially impressive given that the labor force is twice as large as it was in late 1969. Then, the unemployment rate was 3.5 percent, Richard Nixon was president, and "Na Na Hey Hey Kiss Him Goodbye" was the top song in the country. Low claims are...
  • Food Stamp Usage Drops Below 40 Million for First Time in 8 Years

    07/18/2018 10:43:12 AM PDT · by SeekAndFind · 50 replies
    Breitbart ^ | 07/11/2018 | Katherine Rodriguez
    Food stamp participation dropped below 40 million for the first time in eight years, according to the latest numbers on food stamp enrollment from the U.S. Department of Agriculture (USDA). The most recent USDA data reveals that 39,604,428 people were enrolled in the Supplemental Nutrition Assistance Program (SNAP)—the program that administers food stamps—as of April 2018. The last time enrollment dipped below 40 million was in February 2010, when 39,588,993 people received SNAP benefits. The latest data on enrollment shows that overall enrollment in the food stamp program has reached historic lows, reaching its lowest point in eight years. But...
  • Kudlow: Economic Growth Could Top Four Percent for ‘a Quarter or Two’

    07/18/2018 2:19:04 PM PDT · by Hojczyk · 8 replies
    Breitbart ^ | July 18,2018 | Trent Baker
    White House chief economic adviser Larry Kudlow predicted Wednesday at CNBC’s Delivering Alpha conference in New York that economic growth could reach as high as four percent for “a quarter or two.” Kudlow told CNBC’s Jim Cramer that the Trump administration plans for more tax cuts in the future as the economy gets “strong and prosperous.” “We are getting 3 [percent] and it may be 4 for a quarter or two — it may be plus, I don’t know,” Kudlow said. “That’s all to the good. Literally millions more people are working.” He continued, “You’ve got kids, millennials etc. …...
  • Atlanta Fed Holds Second Quarter GDP Estimate at 4.5 Percent

    07/18/2018 10:16:28 AM PDT · by GonzoII · 27 replies
    Newsmax ^ | Wednesday, 18 July 2018 12:23 PM | By f mcguire
    The U.S. economy is growing at a 4.5 percent annualized rate in the second quarter following strong economic data, the Atlanta Federal Reserve’s GDPNow forecast model showed on Wednesday. The latest estimate on gross domestic product growth was the same as Monday but faster than the 3.9 percent pace estimated a week ago, the Atlanta Fed said. After the Federal Reserve Board of Governors' industrial production release on Wednesday, July 17, modest increases in the nowcasts of second-quarter real consumer spending growth and second-quarter real private fixed investment growth were offset by a decrease in the nowcast of second-quarter real...
  • US economy back on top of world competitiveness ranking

    07/18/2018 7:10:56 AM PDT · by SeekAndFind · 15 replies
    DW ^ | 05/23/2018 | Uwe Hessler
    With dynamic growth and access to capital seen as primary factors for jumping three places, the US has regained its status as being on the cutting edge of competitiveness in a ranking by the IMD think tank. A competitive ranking of 63 advanced economies published on Wednesday showed the United States improving three positions to return to the top spot, overtaking Hong Kong, Singapore and the Netherlands, and leaving Switzerland behind.As the top five most competitive countries in the world remained the same — changing only in their order — the American economy's comeback was mainly driven by economic performance,...
  • Department store apocalypse is taking its toll on NYC

    07/16/2018 8:22:22 PM PDT · by 2ndDivisionVet · 42 replies
    The New York Post ^ | July 14, 2018 | Steve Cuozzo
    I’m going to miss Lord & Taylor like mad when the Fifth Avenue flagship closes next year. It isn’t only because of the unlikely bargains I scored on its often-deserted men’s floors — a red vinyl Perry Ellis-label jacket, marked down from $79.95 to $39.95 that strangers hilariously mistake for Armani, and a wool winter coat as good as any for $49.99. I won’t miss the once-charming but more recently cheap-looking holiday windows that weren’t worth waiting on line for. But Lord & Taylor, like every big department store, offered a welcoming civility that softened the city’s rough edges. New...
  • [B]ond market is sounding an 'yield curve' spread hits narrowest in 11 years...

    07/13/2018 4:29:24 PM PDT · by BenLurkin · 13 replies
    cnbc ^ | 07/13/2018 | Patti Domm
    Some market pros say that warning from the Treasury yield curve, which has long been viewed as reliable, is not as relevant as it once was because of the long years of central bank easing that has depressed interest rates and turned debt markets into far more placid arenas. The curve has been getting flatter by the day — meaning short-end interest rates are rising faster than long-term rates, and they are growing closer together. A flattening curve is a warning about economic weakness ahead, but should the curve invert— where the short end yield, like the 2-year, is actually...
  • US import prices unexpectedly drop in June

    07/13/2018 7:38:08 AM PDT · by GonzoII · 14 replies
    CNBC ^ | 2 hours ago | Terri Cullen
    U.S. import prices unexpectedly fell in June after rising sharply a month earlier. Import price fell 0.4 percent in the month. Import prices were forecast to rise 0.1 percent in June, after climbing 0.6 percent a month earlier. This is breaking news. Please check back for updates.
  • The U.S. is 'winning' the trade war, says Mohamed El-Erian

    07/13/2018 6:39:34 AM PDT · by GonzoII · 24 replies
    CNBC ^ | Published 7:29 AM ET Tue, 10 July 2018 | Kellie Ell
    •As trade tensions continue, Mohamad El-Erian, chief economic advisor at Allianz, says the U.S. "will win the trade war." •Investors have been on edge with some fearing that Trump has gone too far with his nontraditional negotiating tactics. •"One of the upside risks, is that you may end up changing, the global landscape in a way that favors the U.S.," he says. As trade tensions continue, Mohamed El-Erian told CNBC that the U.S. is winning the trade war. "In relative terms, we are winning and we will win the trade war," El-Erian, chief economic advisor at Allianz, said Monday on...
  • Texas is CNBC's Top State for Business in America this year

    07/11/2018 4:13:22 PM PDT · by 2ndDivisionVet · 7 replies
    CNBC ^ | July 10, 2018 | Scott Cohn
    •Texas claims the top spot in CNBC's 2018 America’s Top States for Business rankings. •The energy sector is helping to turbocharge the $1.6 trillion Texas economy. •Texas has added more than 350,000 jobs in the past year. •Texas is home to some of America's most important public and private companies, including giants like AT&T, ExxonMobil and Dell. Riding the rising tide of energy prices—and the job growth that goes with it—Texas claims the top spot in CNBC’s 2018 America’s Top States for Business rankings. This is familiar territory for the Lone Star State, which becomes the first four-time winner in...
  • Why the left keeps saying Trump is a Nazi, fascist, tyrant or buffoon

    07/08/2018 9:59:53 PM PDT · by 2ndDivisionVet · 47 replies
    The Mercury News ^ | July 6, 2018 | Victor Davis Hanson
    Key Trump administration officials have been confronted at restaurants. Rep. Maxine Waters (D-Calif.) urged protestors to hound Trump officials at restaurants, gas stations or department stores. Progressive pundits and the liberal media almost daily think up new ways of characterizing President Trump as a Nazi, fascist, tyrant or buffoon. Celebrities openly fantasize about doing harm to Trump. What is behind the unprecedented furor? Just as Barack Obama was not a centrist, neither is Trump. Obama promised to fundamentally transform the United States. Trump pledged to do the same and more — but in the exact opposite direction. The Trump agenda...
  • U.S. Trade Deficit Hits 19-Month Low Due to Record-High Exports

    07/06/2018 4:08:12 PM PDT · by Jim Robinson · 50 replies
    Breitbart ^ | July 6, 2018 | by Joshua Caplan
    The United States trade deficit dropped in May to the lowest level in 19 months as exports rose to a record level. The Department of Commerce announced the May trade deficit — the difference between what America sells and what it buys in foreign markets — decreased 6.6 percent to $43.1 billion — the smallest imbalance since October 2016. Exports climbed 1.9 percent to a record $215.3 billion. Imports were up a smaller 0.4 percent to $258.4 billion. The Trump administration followed through with imposing tariffs on $34 billion in Chinese products on Friday. China retaliated in kind, starting what...
  • The messy reality of Donald Trump’s poll numbers (They've no clue what's going on)

    07/06/2018 3:14:43 PM PDT · by 2ndDivisionVet · 18 replies
    Vox ^ | July 5, 2018 | Ezra Klein
    On June 25, Axios’s Mike Allen and Jim VandeHei took readers inside Donald Trump’s “winning, cynical plan.” They argued that “the more President Trump does, says and tweets outrageous things, the more his critics go bananas and the better he does in the polls.” The evidence for this was that Trump had hit 45 percent in Gallup’s presidential approval tracker — a personal high for him, though he’s since slipped back to 42 percent. More impressively, Trump’s approval among Republicans is hovering around 90 percent, and special counsel Robert Mueller’s disapproval among Republicans was up to 53 percent. “It’s arguably...
  • The State of the LGBTQ Community in the Labor Market: Pre-June 2018 Jobs Day Release

    07/05/2018 2:16:05 PM PDT · by 2ndDivisionVet · 13 replies
    The Center for American Progress ^ | July 5, 2018 | Shabab Ahmed Mirza, Daniella Zessoules, Galen Hendricks, Michael Madowitz, and Laura E. Durso
    Tomorrow, the U.S. Bureau of Labor Statistics will release its employment numbers for the month of June, which is National LGBTQ Pride Month. Since the U.S. Supreme Court ruled that same-sex couples have a constitutional right to marry in 2015, support for marriage equality in the United States has continued to grow among the public. However, LGBTQ people are still susceptible to discrimination in many areas of life and experience poverty at higher rates compared with their non-LGBTQ peers. As previous analyses have shown, traditional measures of recovery since the Great Recession in 2009 mask ongoing economic insecurity for many...
  • All Magic Marts closing: Ammar’s, Inc. announces it will close all department stores

    07/04/2018 5:32:27 PM PDT · by huldah1776 · 31 replies
    Bluefield Daily Telegraph ^ | July 3, 2018 | Charles Owens
    BLUEFIELD, Va. — Ammar’s, Inc., the parent company of the regional Magic Mart chain, is closing all of its department stores in southern West Virginia and Southwest Virginia, as well as the company’s headquarters and warehouse facility in Bluefield, Va. Hundreds of employees in three states will be impacted by the looming closures, and the Magic Mart stores in Welch, Tazewell, Richlands, Grundy and Beckley will all be shuttered. WARN, or Worker Adjustment and Restraining Act, notices have been delivered to all of the impacted employees. “After more than 97 years of serving southern West Virginia, Southwest Virginia and eastern...
  • 'We are the casualty:' US pig farmers brace for second round of pork tariffs from China, Mexico

    07/04/2018 11:23:56 AM PDT · by Poison Pill · 75 replies
    CNBC ^ | 7/4/2018 | Jeff Daniels
    U.S. pork producers are about to be bitten by a second batch of hefty retaliatory tariffs from China and Mexico — and that has some large producers predicting they could lose big money and be forced to invest overseas. Executives say the pork industry has been expanding in recent years, in part on the expectation of export opportunities that would continue to support growth. However, the threat of a trade war is adding uncertainty and driving fear. "We put a halt on all investment, not just because we will be losing money, but because we don't know if growing in...
  • Another Economic Stat to look at: Railroads

    07/04/2018 10:07:13 AM PDT · by TMA62 · 17 replies
    One stat to look for in this growing economy is the weekly rail statistics report from the Association of American Railroads (AAR). I have attached the link. It is a weekly summary of car loadings compared to last year. (Note: the tax cuts were passed in January so it is a good comparison to last year.) Nearly everything is up in the 2-4 percent range. Petroleum (unit tank car trains) really up. The other big stat is intermodal (trailers on flatcars or double stack containers). Intermodal is around 6-8 percent growth from last year and is leading the recovery. The...
  • Vietnam an appropriate growth model for North Korea: former envoy

    07/01/2018 10:09:30 PM PDT · by 2ndDivisionVet · 6 replies
    Vn Express ^ | July 2, 2018 | Viet Anh
    The countries share much of historical and political background, Duong Chinh Thuc tells VnExpress. As North Korea is apparently taking steps to opening its door, insiders and international observants have expressed confidence that Vietnam would be a top model, especially in how it has turned the U.S. from a war enemy into a major business and security partner. Duong Chinh Thuc, former Vietnam ambassador to North Korea and South Korea, who spent more than 20 years studying and working in the North from the 1960s, told VnExpress about the historical and political resemblance that would make Vietnam an "appropriate" example...
  • Consumers Buy More Shoes and Apparel in May As Disposable Income Edges Up

    07/01/2018 3:57:46 PM PDT · by 2ndDivisionVet · 5 replies
    Footwear News ^ | June 29, 2018 | Arthur Friedman
    Despite some slowdown in the pace of growth, solid economic indicators, like a rise in consumer spending, point to positive signs for the U.S. economy. The Bureau of Economic Analysis reported Friday that disposable personal income (DPI), a key gauge for retail spending, rose 0.4 percent, or $63.2 billion, in May. Personal consumption expenditures (PCE) grew 0.2 percent, or $27.8 billion, and was up 2.3 percent from May 2017. Real DPI, income adjusted for taxes and inflation, increased 0.2 percent in May, and real PCE decreased less than 0.1 percent, the BEA said. The PCE price index was up 0.2...
  • Trump, savoring his success, leaves much of world wondering what's next

    06/30/2018 8:40:52 PM PDT · by 2ndDivisionVet · 11 replies
    CNN Politics ^ | June 30, 2018 | Kevin Liptak
    President Donald Trump was in the East Room of the White House on Friday to trumpet the six-month anniversary of his tax cuts, the singular legislative achievement of his presidency so far. But as his teleprompter instructed him to rattle off statistics about the tax law, Trump determined it was the time and place for a bigger celebration. "Our country is doing so well, possibly as well as it's ever done," the President declared. "I don't think it's ever done like this." As a statement about the country, Trump's remark is debatable. Thousands of immigrant children remain separated from their...