economy

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Much-Anticipated Jobs Report a Bit Weaker Than Expected

Employers added 142K jobs in August, fewer than forecast, but that's up from July

(Newser) - One of the most anticipated jobs reports in years is out, and it's a mix of good and bad news. One big takeaway is that the data keeps the Federal Reserve on track to cut interest rates later this month, though the size of the potential cut isn't...

Surprise Poll Result: Harris Leads on the Economy

It's the first time the Democratic candidate has led since Financial Times poll began last year

(Newser) - Kamala Harris has been rising in the polls since entering the 2024 race, and a new survey might be of particular concern to the Donald Trump camp: The poll by the Financial Times and the University of Michigan's Ross School of Business finds that more people trust Harris with...

Trump's New Line of Attack on Harris: the Stock Market

'Kamala Crash' slogan is seen as both superficial and potentially effective

(Newser) - Donald Trump and his campaign didn't waste time in coming up with a term for Monday's market sell-off —the "Kamala Crash." Trump sought to blame VP Kamala Harris for the rough economic day in a series of social media posts using that phrase, and he...

Financial Contagion Slams World Markets

Japan's index has worst day since 1987 crash, and Dow futures are down 800 points

(Newser) - The stock market ended last week in rough shape thanks to renewed fears of a US recession . Things appear to be getting worse Monday, with Dow futures plunging and world markets in similar shape:
  • In the US: Dow futures dropped more than 800 points, or 2%, reports CNBC . Futures for
...

Unemployment Rate Takes Unexpected Jump

It's now 4.3%, highest since 2021; employers added a weaker-than-expected 114K jobs

(Newser) - The latest unemployment report is out, and it reaffirms that the once-booming US job market runs the risk of fizzling:
  • The number: Employers added 114,000 jobs in July, well below expectations of 185,000, reports CNBC . That's down from a revised figure of 179,000 in June; a
...

These States' Economies Are Pulling Their Weight

Washington tops WalletHub's rankings

(Newser) - How well the US economy is doing is dependent on how well the states themselves are doing, and WalletHub looked at all 50 states and the District of Columbia to see which ones boast the best economies. Three main categories are in play: economic activity (including startup activity, exports per...

US Economy Slowed More Than Expected

GDP misses mark in first quarter, causing Dow futures to sink

(Newser) - The nation's economy slowed last quarter, growing at an annual rate of 1.6% in a sign that the high interest rates may be taking a toll on borrowing and spending, per the AP .
  • A slip: Thursday's report from the Commerce Department said the gross domestic product—the
...

Economic 'Vibes' May Be Tilting Toward Biden

The all-important consumer sentiment continues to rise

(Newser) - President Biden has been dogged for much of the past year by what the Economist calls an "emotional disconnect" on the economy. Growth has been strong, but Americans have remained in a lousy mood about money, thanks largely to high prices across the board. Now, however, a closely watched...

Only One Part of Polls Should Worry Democrats


Only One
Part of Polls
Should Worry
Democrats
OPINION
Nov 27, 2023 10:50 AM CST

Only One Part of Polls Should Worry Democrats

It's how Americans view the economy, writes pollster Mileah Kromer

(Newser) - Like a lot of political observers, Mileah Kromer doesn't think Democrats should be too worried about what Kromer calls "horse race polls" showing Donald Trump ahead of President Biden a year out from the election. But Kromer, who's director of the Sarah T. Hughes Center for Politics...

US Economy Is a Hot One Right Now
US Economy Is a
Hot One Right Now
Oct 26, 2023 8:34 AM CDT

US Economy Is a Hot One Right Now

It expanded at a strong 4.9% annual rate during Q3—more than twice the rate of Q2

(Newser) - The nation's economy expanded at a robust 4.9% annual rate from July through September as Americans defied higher prices, rising interest rates, and widespread forecasts of a recession to spend at a brisk pace. The Department of Commerce said the economy expanded last quarter at the fastest pace...

This Is the Most Innovative Nation on Earth

Switzerland is No. 1, again, while the US falls one spot

(Newser) - Monday has already proven a banner day for innovation, with the Nobel Prize in medicine bestowed on Katalin Kariko and Drew Weissman for their work that helped develop the COVID-19 mRNA vaccines. Now, certain nations around the world can crow about their placement on the World Intellectual Property Organization's...

Warning to UAW: Don't Kill 'the Goose That Lays the Golden Egg'

In 'NYT' op-ed, Steven Rattner worries about strike's 'implications for our economy,' and for Biden

(Newser) - The United Auto Workers union is threatening to expand its targeted strike against Detroit's Big Three automakers if major advances aren't seen in contract negotiations by Friday. But at least one person thinks that the UAW is "overplaying its hand" in taking on Ford, General Motors, and...

Finally, the Curves Flip on Paychecks, Inflation

After 2 years, wages hikes are finally rising faster than inflation

(Newser) - Generally speaking, Americans have been getting pay raises over the last two years—it just hasn't felt like it because prices were rising even more. Finally, however, wage increases have begun to outpace inflation, reports the Wall Street Journal . Average hourly wages, after being adjusted for inflation, rose 1....

Could Taylor Swift Keep Us Out of a Recession?

Federal Reserve gives nod to her Eras Tour, 'influx' of fans for their economic impact

(Newser) - Taylor Swift has been impressing fans and critics alike during her current Eras Tour, and ticket sales show no signs of slowing. But it's more than just her music that's been having an impact—the Federal Reserve says the singer has had a marked effect on the economy,...

These States Are Pulling Their Weight for US Economy

Washington state has the best economy, West Virginia the worst, per WalletHub ranking

(Newser) - When it comes to the US economy, a variety of factors underlie its health (or lack thereof), with the economies of individual states playing a significant part. WalletHub wanted to see which ones are really pulling their weight when it comes to contributing to the national coffers, so it looked...

Jobs Report Comes in Way Stronger Than Expected

Employers added 339K jobs in May, above estimates of 190K

(Newser) - The new jobs report is out, and it shows that American employers continue to hire workers at a pace that defies expectations, reports the Wall Street Journal . More:
  • New hires: Employers added 339,000 jobs in May, well above predictions of 190,000. Economists keep expecting to see a sharp
...

Inflation, Interest Rates Put a Dent in Economic Growth

GDP rose by a weaker-than-expected 1.1% in latest quarter

(Newser) - The US economy slowed sharply from January through March, decelerating to just a 1.1% annual pace as higher interest rates hammered the housing market and businesses reduced inventories. Thursday’s estimate from the Commerce Department showed that the nation’s gross domestic product—the broadest gauge of economic output—...

Jamie Dimon: Repercussions of Bank Crisis Will Last

But JPMorgan chief emphasizes it's not as severe as the 2008 crisis

(Newser) - Ten months ago, the chief of America's biggest bank warned that an economic "hurricane" was brewing and might slam the US. On Tuesday, Jamie Dimon of JPMorgan Chase sounded a lot more optimistic about the forecast, referencing "storm clouds" instead, reports Axios . In his annual letter to...

Unemployment Rate Hasn't Been This Low Since 1969

Falls to 3.4%; stock market isn't happy with surprisingly strong jobs report

(Newser) - America’s employers added a robust 517,000 jobs in January, a surprisingly strong gain in the face of the Federal Reserve’s aggressive drive to slow growth and tame inflation with higher interest rates, per the AP . Analysts expected a figure of 187,000, notes the Wall Street Journal ...

2023 Is Now Seen as a 'Turning Point' for Economy

IMF upgrades its world forecast, thinks a global recession is less likely

(Newser) - A new economic forecast includes what has become a rare thing of late: good news. Or, at least, better news. The International Monetary Fund said Monday that it thinks a global recession probably won't happen, reports the New York Times . A number of factors— including easing inflation, China's...

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