US economy

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East Coast Dockworkers' Strike Could Slam Economy

Union threatens action starting Sunday

(Newser) - Some 14,500 dockworkers are ready to walk out on strike Sunday, and it could shutter ports from Boston to Houston and choke the US economy big-time. The longshoremen are "in a crucial place in the flow of goods," says one professor; New York and New Jersey officials...

Not Very Merry: Holiday Spending Was Scrooge-Like

Shoppers eying fiscal cliff, storms sat on their wallets

(Newser) - With Christmas officially in the rearview, the first snapshot of holiday spending is rolling in and the picture isn't too pretty: In the two months leading up to Christmas, sales of popular gift items like electronics and apparel grew only .7%—a measly increase well below analysts' expectation of...

AP&#39;s Top 10 Stories of 2012
 AP's Top 10 Stories of 2012 
Dec 20, 2012 5:54 PM CST

AP's Top 10 Stories of 2012

Mass shootings finish ahead of election

(Newser) - The AP ended its voting for the top stories of 2012 on Dec. 13, but the following day's rampage in Newtown prompted a rare re-vote among the nation's editors. As a result, "mass shootings" moved from No. 6 to No. 1 to edge out the election. The...

Sales of Pricey Homes Surge
 Sales of Pricey Homes Surge 
Dec 20, 2012 2:14 PM CST

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%...

Unemployment Falls to 7.7%
 Unemployment Falls to 7.7% 
Dec 7, 2012 7:49 AM CST

Unemployment Falls to 7.7%

But 'WSJ' calls report the least important in last 60 months

(Newser) - The unemployment rate fell from 7.9% to 7.7% in November, and the Wall Street Journal gives you permission to care a little less than usual. It calls today's report "the least important look at the labor market in about five years." That's because 1)...

This Is 1 of Only 3 Major US Cities in Recovery
 This Is 1 of Only 3 
 Major US Cities 
 in Recovery 
Economic Study
Nov 30, 2012 11:40 AM CST

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,...

Home Prices Climbed 3% in September

20-city index sees jump as housing recovery continues

(Newser) - Home prices increased in September in most major US cities, more evidence of a housing recovery that is providing a lift to the fragile economy. Standard & Poor's/Case Shiller reported today that its 20-city index of home prices rose 3% in September, compared with the same month last year....

Economy No. 1 Concern for 60% of Voters

Americans generally split on ObamaCare

(Newser) - Not a huge surprise here: Initial results from the AP's exit poll show that six out of 10 voters feel the economy is the No. 1 issue facing the US today. That's basically unchanged from 2008, when 62% of voters said the same thing . Other preliminary findings :
  • Which
...

Consumer Spending Jumps 0.8%
Consumer Spending
Jumps 0.8%
Oct 29, 2012 8:44 AM CDT

Consumer Spending Jumps 0.8%

It's the best report in 7 months, but outpaces income growth

(Newser) - Americans increased their spending in September at twice the rate their income rose, a sign of confidence in the economy. The Commerce Department says consumer spending increased 0.8% in September, the best showing since February. Personal income rose 0.4%, an improvement from a slight 0.1% gain in...

US Retail Sales Jumped 1.1% in September

iPhone 5 plays big role

(Newser) - Americans stepped up their retail spending in September, reflecting stronger sales of autos, electronics, and building supplies. Retail sales rose 1.1% last month, the Commerce Department said today. That followed a 1.2% increase in August, which was revised slightly higher. Both were the largest gains since October 2010....

Unemployment Drops to 7.8%, 114K Jobs Added
Unemployment at 7.8%, Lowest in Obama's Term
jobs report
Oct 5, 2012 7:56 AM CDT

Unemployment at 7.8%, Lowest in Obama's Term

Rate drops as nation adds a so-so 114,000 jobs

(Newser) - The unemployment rate dropped to 7.8% last month, its lowest level since January 2009—meaning it's now officially lower than it was when President Obama took office, the Wall Street Journal reports. Today's jobs report also shows that 114,000 jobs were added; consensus had been 118,...

Mitt Romney Thinks He&#39;s the Confidence Fairy
 Mitt Romney 
 Thinks He's the 
 Confidence Fairy 
paul krugman
Sep 24, 2012 11:32 AM CDT

Mitt Romney Thinks He's the Confidence Fairy

Believes his mere election will fix economy: Paul Krugman

(Newser) - Paul Krugman has long derided the " confidence fairy ": a notion that government cuts will somehow spark more consumers and investors to buy. We're seeing another version of that fairy now, after learning that Mitt Romney, at his infamous "47%" fundraiser, also claimed that his election would...

Poll: Americans More Optimistic

Numbers are good news for Obama, pollsters say

(Newser) - In news that may give Mitt Romney the blues, Americans are starting to cheer up a little, according to the latest Reuters /Ipsos poll. Some 55% still believe America is heading in the wrong direction, while 39% think it is going in the right direction, the poll found. But it'...

On Deck for the Fed: QE3, GOP Backlash

Markets soar on widely expected new round of stimulus

(Newser) - Markets have soared in the expectation that the Fed will announce fresh steps to boost the US economy at the conclusion of its two-day meeting tomorrow—making it all the more likely that a stimulus will be forthcoming. Fed Chairman Ben Bernanke is widely expected to announce a third round...

Could the New iPhone Save Our Economy?

Report says yes, if 8M are sold

(Newser) - The iPhone 5 may be more than just the latest gadget: It could be the savior of the US economy. Sales of the device could increase fourth-quarter economic growth by half a percentage point, according to a JPMorgan report. If the phones sell for $600 each, with $200 worth of...

Unemployment Falls to 8.1%, But...

...just 96K jobs added, which the 'WSJ' calls 'terrible'

(Newser) - The unemployment rate dropped to 8.1% last month, but just 96,000 jobs were added—a number well below expectations , and one that the Wall Street Journal calls "terrible." (It also, somewhat amusingly, says it's time to "cue the sad trombone" and urges you to...

&#39;Are You Better Off?&#39; Well, It&#39;s Irrelevant
'Are You Better Off?'
Well, It's Irrelevant
Ezra Klein
Sep 5, 2012 12:27 PM CDT

'Are You Better Off?' Well, It's Irrelevant

Ezra Klein points out that the president's 'record' doesn't mean a ton

(Newser) - Mitt Romney has been feverishly reciting Ronald Regan's famous quote: "Are you better off than you were four years ago?" But that's a "dumb campaign question," Ezra Klein writes for Bloomberg , because "four years ago, George W. Bush was still president." Romney himself...

Obama: I Get an 'Incomplete' on the Economy

And the GOP is not happy with that grade

(Newser) - President Obama gave himself a grade on fixing the economy—"incomplete"—and Republicans are pouncing on it. Obama offered the grade in an interview with KKTV yesterday, quickly adding that "the steps that we have taken in saving the auto industry, in making sure that college is...

Romney Win a Sure Thing: Election Model

Model based on economy would have correctly predicted last 8 elections

(Newser) - Forget polls. If you want to know who's going to win in November, it's the economy, stupid. A new prediction model based on state-by-state economic data predicts that Mitt Romney will prevail with 320 electoral votes, snapping up nearly all of the key swing states, to President Obama'...

2000s Were 'Lost Decade' for Middle Class

Household incomes, net worth shriveled

(Newser) - The 2000s were a "lost decade" for America's middle class that left them poorer and more pessimistic than they were 10 years earlier, according to a Pew Research Center study. For the first time since at least World War II, middle-class incomes and net worth declined over the...

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