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BUSINESS | US Jobless Claims Fall, Pointing to Continued Labor Market Strength

BUSINESS | US Jobless Claims Fall, Pointing to Continued Labor Market Strength

By TOM OZIMEK The number of initial jobless claims—a measure of Americans newly applying for unemployment benefits—fell in late January, in a sign that the robust U.S. labor market remains on solid footing. The Labor Department said in a release (pdf) that the number of initial jobless claims dropped by 7,000 to a seasonally adjusted 216,000 for the […]

BUSINESS | Consumer Sentiment Stable, Inflation Expectations Rise: Michigan University Survey

BUSINESS | Consumer Sentiment Stable, Inflation Expectations Rise: Michigan University Survey

By TOM OZIMEK Researchers at the University of Michigan said U.S. consumer sentiment remained stable in January, with the index dipping slightly, by 0.2 points, from the previous month. The Michigan sentiment gauge shows how consumers view their personal financial situation and broader buying conditions. Figures from the index, published on Jan. 17, show that the measure for January […]

BUSINESS | US Jobless Claims Fall Amid Ongoing Labor Market Strength

BUSINESS | US Jobless Claims Fall Amid Ongoing Labor Market Strength

BY TOM OZIMEK The weekly jobless claims report suggests continued strength in the U.S. labor market, with new unemployment claims falling while continued claims see an uptick. Initial claims for state unemployment benefits decreased by 9,000 to 214,000 (seasonally adjusted) for the week ending Jan. 4, compared to the week before, the Labor Department stated in a release (pdf) on Jan. […]

Year in Review: Strong Job Market and Consumer Spending Boost Economy as 2019 Wraps Up

Year in Review: Strong Job Market and Consumer Spending Boost Economy as 2019 Wraps Up

BY TOM OZIMEK   The economy is finishing the year in stronger shape, thanks in part to resilient consumers and a healthy job market. With near-record low unemployment and solid wage growth, the U.S. labor market is expected to continue to underpin consumer spending and the economy. The Commerce Department said Friday that the total output of goods and services, […]

Congress Passes Biggest Retirement System Overhaul in 13 Years

Congress Passes Biggest Retirement System Overhaul in 13 Years

BY TOM OZIMEK   Congress has passed a monumental retirement system overhaul package called the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019, the first significant retirement legislation in 13 years. The SECURE Act was included in a larger package of spending legislation headed for approval this week. The bill, which has bipartisan support, passed […]

Profit and Debt Pressures Spark Slowdown in Shale

Profit and Debt Pressures Spark Slowdown in Shale

    BY TOM OZIMEK Fracking insiders said that the dynamic growth of shale in recent years is suffering a slowdown as industry investors demand higher returns and lower debt. Shale producers such as Pioneer, Range Resources, EQT Corp, and Whiting Petroleum have reduced production targets and cut staff, aiming to meet investors’ bottom-line demands for more profit […]

First Ever Official GDP Stats Released for Every US County

First Ever Official GDP Stats Released for Every US County

BY TOM OZIMEK he government has for the first time released official gross domestic product (GDP) statistics for each and every one of the nation’s 3,113 counties. The figures, released Thursday by the U.S. Bureau of Economic Analysis (BEA), span 2001-2018. A year ago today, the BEA teased the official release of the GDP data with a set […]