economy

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Record Number of Americans Have Two Jobs

Government's official count is now nearly 9M

(Newser) - In a world of high prices and increased worries about a recession , the stat might not be a huge surprise: A record number of Americans are now working at least two jobs, according to the official government count. Details:
  • Record high: The Bureau of Labor Statistics said 8.9 million
...

Bessent's New Comments Worsen Mood on Wall Street

Futures are down after treasury secretary calls correction 'healthy' and won't rule out a recession

(Newser) - After falling into correction territory last week—with the benchmark S&P 500 off 10% from its earlier highs—stocks were poised to start the new week with modest declines. Dow futures were down more than 130 points, and USA Today reports that comments from Treasury Secretary Scott Bessent over...

Investors Worry 'Soft Landing' Is Going Off Track

Meanwhile, Dow futures point to modest gains at open after Monday's selloff

(Newser) - It appears the stock market will open in positive territory on Tuesday after Monday's steep selloff , though nowhere near big enough to recoup the losses. Dow futures were up about 100 points, reports CNBC , after losing nearly 900 at Monday's close. A "modicum of calm" also returned...

Treasury Chief: We May Need 'Detox' on Economy

Bessent foresees some turbulence as government spending declines

(Newser) - It's not a word typically applied to the economy, and it may not thrill Wall Street investors. But Treasury Secretary Scott Bessent told CNBC on Friday that the nation's economy may be in need of a "detox."
  • "Look, there's going to be a natural
...

US Cities Feeling Most, Least Financial Distress

Houston and Anchorage at opposite ends of WalletHub ranking

(Newser) - We've all felt the bite of high prices over the past few years, but financial struggles are more prevalent in some places than others. WalletHub checked out 100 of the nation's largest cities to analyze residents' credit scores, accounts in distress, changes in bankruptcy filings, and search interest...

Another Day, Another Milestone in Egg Prices

Axios reports they're pricier than beef for the first time, as measured by protein per gram

(Newser) - Every day seems to bring a new reminder that egg prices keep rising. The latest is from Axios , which reports that eggs are now more expensive than beef by one metric for the first time. The outlet analyzed nearly 500 months of Consumer Price Index data going back to 1984...

China's Economy Showing Signs of Life

It rose at a 5.2% pace last year, up from 3% in 2022

(Newser) - China's economy grew a bit more in 2023 than earlier thought, but the revision hasn't affected forecasts for "about 5%" growth in the GDP this year, the government said Thursday. The GDP estimate in 2023 for the world's second largest economy was increased by about 2....

Harris Is Repeating Hillary Clinton's Mistake
Harris Is Repeating
Hillary Clinton's
Mistake
OPINION
Oct 16, 2024 3:50 PM CDT

Harris Is Repeating Hillary Clinton's Mistake

She must focus on economic populism, stop trying to woo 'Never Trump' Republicans

(Newser) - Kamala Harris' decision to mention Alberto Gonzales being added to the list of Republicans who've thrown their support behind her rubbed Jeet Heer the wrong way. In a piece for the Nation , Heer writes that the reference to the former US attorney general at a Thursday town hall sponsored...

Biggest Bank Suggests US Has Achieved a 'Soft Landing'

JPMorgan exec uses the phrase while discussing better-than-expected quarterly results

(Newser) - The Federal Reserve has been adjusting rates and watching inflation as it attempts to pull off an elusive "soft landing" for the economy. On Friday, an exec at the nation's biggest bank said the central bank appears to have pulled it off and avoided a recession. After JPMorgan...

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...

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