Content Tagged As economic_news

3 years 11 months ago

April consumer spending falls from March

New figures show Americans pulled back from the malls in April after spending more rapidly in March. The lull comes on the heels of three straight month-to-month gains in retail spending, according to figures released by MasterCard Advisors' SpendingPulse. April's business was hurt by cool weather as well as...

3 years 11 months ago

Foreclosures down slightly from last year

A foreclosure listing firm says the foreclosure crisis is finally showing signs of easing, but it isn't all good news. RealtyTrac says the number of households facing foreclosure last month fell 2 percent from a year ago. That's the first annual decline in five years. But while the delinquency...

4 years 1 month ago

New layoffs soar to nearly half million

The number of new claims for unemployment benefits jumped unexpectedly last week as heavy snows caused layoffs to rise. A Labor Department analyst says mid-Atlantic and New England states are still processing a spike in claims stemming from the bad weather two weeks ago. The department says first-time...

4 years 1 month ago

New home sales fall to record low

Sales of new homes plunged to a record low in January, underscoring the formidable challenges facing the housing industry as it tries to recover from the worst slump in decades. The Commerce Department reported Wednesday that new home sales dropped 11.2 percent last month to a seasonally adjusted annual...

4 years 2 months ago

Housing construction up 2.8 percent in January

A couple of economic reports today are boosting hopes for a sustained recovery. Industrial production posted its seventh straight increase in January. The Federal Reserve reported Wednesday that January's numbers rose in all three major categories: manufacturing, mining and energy utilities. That is the first such show of...

4 years 2 months ago

Layoffs swelling in USA

The number of newly-laid off workers seeking jobless benefits rose last week, as the job market recovers at a slow and uneven pace. The Labor Department said Thursday that initial claims for unemployment insurance rose by 36,000 to a seasonally adjusted 482,000. Wall Street economists had expected a small drop....

4 years 3 months ago

What recovery? December retail sales drop

Retail sales fell in December as demand for autos, clothing and appliances all slipped, a disappointing finish to a year in which sales dropped by the largest amount in 27 years of records. The weakness in consumer demand highlighted the formidable hurdles facing the economy as it struggles to recover...

4 years 3 months ago

New jobless claims last week: 432,000

The number of newly laid-off workers filing claims for unemployment benefits dropped unexpectedly last week, a sign the job market is healing as the economy slowly recovers. The Labor Department says that new claims for unemployment insurance fell by 22,000 to a seasonally adjusted 432,000, the lowest since July 2008....

4 years 4 months ago

New jobless claims post increase

The number of newly laid off workers filing claims for unemployment benefits rose last week as the recovery of the nation's battered labor market proceeds in fits and starts. The Labor Department said Thursday that the number of new jobless claims rose to 480,000 last week, up 7,000 from the...

4 years 4 months ago

November housing construction up 8.9 percent

Construction of new homes, helped by better weather, rebounded in November following a setback in the previous month. The gain is a hopeful sign that the housing recovery is continuing, a development viewed as critical to lifting the overall economy out of recession. The Commerce Department says construction of new...

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