11:18 AM, Jul 2, 2015 • By GEOFFREY NORMAN
Bloomberg reports that:
An increase in June payrolls followed smaller gains in the prior two months and wages were little changed as U.S. job market reflected a more moderate pace of economic growth.
The addition of 223,000 new jobs in June was less than the 233,000 thousand that had been expected and:
Revisions to prior reports subtracted a total of 60,000 jobs from payrolls in the previous two months.
Also the unemployment rate fell to 5.3% from 5.5% and
… is the lowest since April 2008.
But that decrease reflected fewer people in the labor force with:
The participation rate, which indicates the share of the working-age people in the labor force, [falling] to 62.6 percent, the lowest since October 1977, from 62.9 percent.
4:28 PM, Jun 17, 2015 • By GEOFFREY NORMAN
The subject of debt – how much and how tolerable – slipped into the shadows for a time. But yesterday, it reappeared. As Rebecca Shabad of the Hill reports:
8:42 AM, Jun 5, 2015 • By DANIEL HALPER
The latest jobs report from the Bureau of Labor Statistics shows the unemployment rate ticking up to 5.5 percent and that the economy added 280,000 jobs:
Total nonfarm payroll employment increased by 280,000 in May, and the unemployment rate was essentially unchanged at 5.5 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in professional and business services, leisure and hospitality, and health care. Mining employment continued to decline.
10:37 AM, Jun 2, 2015 • By GEOFFREY NORMAN
That negative 1st quarter GDP has been widely passed off as the effect of a particularly severe winter. Things, we were assured, were not that bad and would be getting better as the weather warmed. Well, not so fast. The Commerce Department came out this morning with a report on factory orders that was supposed to be in positive territory.
5:09 PM, Apr 30, 2015 • By GEOFFREY NORMAN
After yesterday’s disappointing GDP number (it grew by a meager .2% in the last quarter) we got this from Jason Furman, chairman of the White House Council of Economic Advisors:
7:14 AM, Apr 22, 2015 • By JERYL BIER
Speaking Tuesday at the 45th Annual Washington Conference of the Council of the Americas, Secretary of State John Kerry said that "countries are far more likely to advance economically and socially when citizens have faith in their governments and are able to rely on them for justice and equal treatment under the law." Kerry said that a "new kind of relationship" with Latin American countries, emphasizing democracy and human rights, will contribute to "our common ag
11:12 AM, Mar 27, 2015 • By GEOFFREY NORMAN
Bloomberg reports that:
The U.S. economy expanded at 2.2 percent annualized pace in the fourth quarter, led by the biggest gain in consumer spending in eight years.
9:50 AM, Mar 25, 2015 • By IRWIN M. STELZER
Water, Water Everywhere
And in some places in drought-ravished California even where it proves an embarrassment.