The fourth quarter was less than half of the pace set in the previous three months03/27/2015 | ConsumerAffairs
The government's third estimate of fourth quarter real gross domestic product (GDP) -- the value of the production of goods and services in the U.S., adjusted for price changes -- is in and it looks just like the second estimate.
According to the Commerce Department, GDP increased at an annual rate of 2.2% -- the same reading we saw a month ago in the second estimate. By way of comparison, the economy grew at a 5.0% annual rate in the third quarter.
The total is well below the 300k level03/26/2015 | ConsumerAffairs
A large decline in initial jobless claims sent the total well below the 300,000 level last week.
Figures released by the Labor Department (DOL) put the total of first-time applications for state unemployment benefits at a seasonally adjusted 282,000 during the week ending March 21, down 9,000 from the previous week.
The consensus estimate of economists surveyed by Briefing.com was for a much smaller decline -- to 290,000.
The government says there were no...
The economy created 200k+ jobs for a sixth straight month08/01/2014 | ConsumerAffairs
Job creation may have fallen a little short of expectations in July, but the figure is what one analyst calls “impressive.”
Figures released by the Labor Department (DOL) show the economy cranked out 200,000 nonfarm payroll positions last month while the the unemployment rate inched up 0.1% -- to 6.2%.
Economists surveyed by Briefing.com were looking for 220,000 new jobs.
As it released the July report, DOL revised its job creation figures higher for the two pre...
The August reading is the strongest since April09/12/2014 | ConsumerAffairs
Retail sales rose in August for a seventh straight month.
Figures from the Census Bureau show sales totaled $444.4 billion last month -- an increase of 0.6% from The previous month and up 5.0% from August of last year.
At the same time, the July showing, which had initially been reported as flat , was revised to an advance of 0.3%
If the highly volatile auto sector, where sales jumped 1.5%, is stripped out, August sales were up a more modest 0.3%.
Other winners include ...
This could be the lowest year for job cuts in more than a decade10/02/2014 | ConsumerAffairs
Planned job cuts announced by employers based in the U.S. plunged 24% in September to a 14-year low of 30,477.
Figures released by outplacement consultancy Challenger, Gray & Christmas suggest 2014 is on pace to be the lowest job-cut year since 1997.
Last month’s job cuts were the fewest since June, 2000, when just 17,241 workers were let go. The September decline brings the 2014 monthly average down to 40,379. If this pace holds, the year could end with fewer th...
The months-long decline continues10/16/2014 | ConsumerAffairs
First-time applications for state unemployment benefits have fallen to their lowest level in 14 years.
According to the Labor Department (DOL), claims plunged 23,000 in the week ending October 11 to a seasonally 264,000. That's is the lowest level since April 15, 2000, 259,000 claims were filed.
Economists surveyed by Briefing.com were expecting an increase to 290,000.
Sterne Agee Chief Economist Lindsey M. Piegza calls the decline a “welcomed improvement,”...
The advance follows the first decline in 8 months11/14/2014 | ConsumerAffairs
Retail sales bounced back in October from September's decline -- the first in 8 months.
The Census Bureau reports sales were up a seasonally adjusted $444.5 billion or 0.3% from the
previous month, and were 4.1% above October the same period a year ago.
Contributing to the advance were sales at Sporting goods, hobby, book & music stores (+1.2), food services and drinking places (+0.9%) and health and personal care stores (+0.7%). Auto sales rose 0.5% after falling 1.1% ...
A new survey shows high school seniors are looking to the future09/05/2014 | ConsumerAffairs
An estimated 10,000 people retire each day, according to Pew Research, a trend that's likely to continue for the next 15 years or so. That means a lot of jobs will need to be filled, many of them requiring a particular skill.
So, who's going to be taking on this responsibility?
According to new research from CareerBuilder and Economic Modeling Specialists Intl. (EMSI), high school seniors may be taking a more active role in providing a solution to the skills gap. Nearly 75...
The increase, while below forecasts, was the fourth in a row06/12/2014 | ConsumerAffairs
For the fourth time in as many months, retail sales posted a gain during May.
Figures released by the U.S. Census Bureau show sales last month were up a seasonally adjusted 0.3% -- to $437.6 billion, and a gain of 4.3% over May of 2013. In addition, The April figure was revised higher to show and advance of 0.5% instead of the 0.1% initially reported.
Still, some economists were disappointed with the showing. The consensus esimate of analysts surveyed by Briefing.com was f...
Analysts see growing momentum in job creation07/24/2014 | ConsumerAffairs
First-time applications for state unemployment benefits have fallen to their lowest level in more than 8 years.
The Labor Department says initial jobless claims plunged by 19,000 in the week ending July 19, to a seasonally adjusted 284,000 -- a decrease of 19,000 and the lowest level since February 18, 2006, when they totaled 283,000.
Sterne-Agee Chief Economist Lindsey M. Piegza points out that despite the “impressive outsized decline,” the U.S. labor market r...
It's the third time in five weeks they've been below 300k08/21/2014 | ConsumerAffairs
Initial applications for jobless claims have fallen below 300,000 for the third time in 5 weeks.
Figures released by the Labor Department (DOL) put first-time requests for state unemployment benefits during the week ending August 16 at a seasonally adjusted 298,000 -- a drop of 14,000 from the previous week's revised level of 312,000. The consensus estimated in Briefing.com's survey was for a decline to 308,000.
While the DOL says there were no “special factors&rdquo...
Consumers tucked away more money for that rainy day10/31/2014 | ConsumerAffairs
Personal income rose last month, while consumers tightened their grip on their pocket books.
According to the Bureau of Economic Analysis, incomes were up $22.7 billion, or 0.2%, and personal consumption expenditures (PCE) dipped $19.0 billion, or 0.2%.
By way of comparison, personal income increased $50.7 billion, or 0.3% in August and PCE jumped $58.7 billion, or 0.5%, based on revised estimates.
Disposable personal income (DPI) -- personal income less personal current ta...
A third look at GDP shows more strength than previously reported09/26/2014 | ConsumerAffairs
The third time is the charm when it comes to calculating economic growth for the second quarter.
This latest look at expansion in the gross domestic product -- the output of goods and services produced by labor and property located in the U.S. -- shows growth at an annual rate of 4.6%.
The first two estimates put expansion at a rate of 4.0% and 4.2%, respectively. The stringer showing follows a first-quarter decline of 2.1%.
This latest estimate is based on more complete so...
However, the rate is a bit slower than in the spring10/30/2014 | ConsumerAffairs
The nation's economy continued to chug along during the third quarter, although not as robustly at it did in the spring.
The "advance" estimate released by the Bureau of Economic Analysis shows real gross domestic product (GDP) -- the value of the production of goods and services in the U.S., adjusted for price changes -- increased at an annual rate of 3.5% in July, August and September. Real GDP surged 4.6% in the second quarter.
Keep in mind that this advance estimate is...
The level is back where it was in the early spring09/11/2014 | ConsumerAffairs
After averaging roughly 300,000 during July and August a level usually associated with full employment, first-time applications for state unemployment benefits were up substantially last week.
Figures released by the Labor Department (DOL) show initial claims jumped 11,000 in the week ending September 6 to 315,000. The consensus estimate of economists surveyed by Briefing.com was for a total of 300,000.
Some analysts had maintained the recent drop in the weekly figure duri...
The personal savings rate, however, headed lower09/30/2014 | ConsumerAffairs
Both personal income and spending rose in August, showing a bit of progress over July's lackluster performance.
According to the Bureau of Economic Analysis, incomes were up 0.3% last month to $47.3 billion, while personal consumption expenditures (PCE) increased $57.5 billion, or 0.5%. Personal income rose 0.2% and PCE were flat in July.
Disposable personal income (DPI) -- personal income less personal current taxes -- rose 0.3% compared with an increase of 0.2% the month...
ADP says the economy added 230k private sector workers last month11/05/2014 | ConsumerAffairs
Another 230,000 people found work in the private sector during October, according to the ADP National Employment Report.
Positions at companies with 50-499 employees rose by 122,000 last month -- well over twice September’s increase of 47,000. Job creation at large companies -- those with 500 or more employees -- saw a big drop from 85,000 the previous month to only 5,000 jobs added in October.
Companies with 500-999 employees added 14,000 jobs, although this was off...