US economy

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Home Prices Climbed 3% in September

20-city index sees jump as housing recovery continues

(Newser) - Home prices increased in September in most major US cities, more evidence of a housing recovery that is providing a lift to the fragile economy. Standard & Poor's/Case Shiller reported today that its 20-city index of home prices rose 3% in September, compared with the same month last year....

Economy No. 1 Concern for 60% of Voters

Americans generally split on ObamaCare

(Newser) - Not a huge surprise here: Initial results from the AP's exit poll show that six out of 10 voters feel the economy is the No. 1 issue facing the US today. That's basically unchanged from 2008, when 62% of voters said the same thing . Other preliminary findings :
  • Which
...

Consumer Spending Jumps 0.8%
Consumer Spending
Jumps 0.8%
Oct 29, 2012 8:44 AM CDT

Consumer Spending Jumps 0.8%

It's the best report in 7 months, but outpaces income growth

(Newser) - Americans increased their spending in September at twice the rate their income rose, a sign of confidence in the economy. The Commerce Department says consumer spending increased 0.8% in September, the best showing since February. Personal income rose 0.4%, an improvement from a slight 0.1% gain in...

US Retail Sales Jumped 1.1% in September

iPhone 5 plays big role

(Newser) - Americans stepped up their retail spending in September, reflecting stronger sales of autos, electronics, and building supplies. Retail sales rose 1.1% last month, the Commerce Department said today. That followed a 1.2% increase in August, which was revised slightly higher. Both were the largest gains since October 2010....

Unemployment Drops to 7.8%, 114K Jobs Added
Unemployment at 7.8%, Lowest in Obama's Term
jobs report
Oct 5, 2012 7:56 AM CDT

Unemployment at 7.8%, Lowest in Obama's Term

Rate drops as nation adds a so-so 114,000 jobs

(Newser) - The unemployment rate dropped to 7.8% last month, its lowest level since January 2009—meaning it's now officially lower than it was when President Obama took office, the Wall Street Journal reports. Today's jobs report also shows that 114,000 jobs were added; consensus had been 118,...

Mitt Romney Thinks He&#39;s the Confidence Fairy
 Mitt Romney 
 Thinks He's the 
 Confidence Fairy 
paul krugman
Sep 24, 2012 11:32 AM CDT

Mitt Romney Thinks He's the Confidence Fairy

Believes his mere election will fix economy: Paul Krugman

(Newser) - Paul Krugman has long derided the " confidence fairy ": a notion that government cuts will somehow spark more consumers and investors to buy. We're seeing another version of that fairy now, after learning that Mitt Romney, at his infamous "47%" fundraiser, also claimed that his election would...

Poll: Americans More Optimistic

Numbers are good news for Obama, pollsters say

(Newser) - In news that may give Mitt Romney the blues, Americans are starting to cheer up a little, according to the latest Reuters /Ipsos poll. Some 55% still believe America is heading in the wrong direction, while 39% think it is going in the right direction, the poll found. But it'...

On Deck for the Fed: QE3, GOP Backlash

Markets soar on widely expected new round of stimulus

(Newser) - Markets have soared in the expectation that the Fed will announce fresh steps to boost the US economy at the conclusion of its two-day meeting tomorrow—making it all the more likely that a stimulus will be forthcoming. Fed Chairman Ben Bernanke is widely expected to announce a third round...

Could the New iPhone Save Our Economy?

Report says yes, if 8M are sold

(Newser) - The iPhone 5 may be more than just the latest gadget: It could be the savior of the US economy. Sales of the device could increase fourth-quarter economic growth by half a percentage point, according to a JPMorgan report. If the phones sell for $600 each, with $200 worth of...

Unemployment Falls to 8.1%, But...

...just 96K jobs added, which the 'WSJ' calls 'terrible'

(Newser) - The unemployment rate dropped to 8.1% last month, but just 96,000 jobs were added—a number well below expectations , and one that the Wall Street Journal calls "terrible." (It also, somewhat amusingly, says it's time to "cue the sad trombone" and urges you to...

&#39;Are You Better Off?&#39; Well, It&#39;s Irrelevant
'Are You Better Off?'
Well, It's Irrelevant
Ezra Klein
Sep 5, 2012 12:27 PM CDT

'Are You Better Off?' Well, It's Irrelevant

Ezra Klein points out that the president's 'record' doesn't mean a ton

(Newser) - Mitt Romney has been feverishly reciting Ronald Regan's famous quote: "Are you better off than you were four years ago?" But that's a "dumb campaign question," Ezra Klein writes for Bloomberg , because "four years ago, George W. Bush was still president." Romney himself...

Obama: I Get an 'Incomplete' on the Economy

And the GOP is not happy with that grade

(Newser) - President Obama gave himself a grade on fixing the economy—"incomplete"—and Republicans are pouncing on it. Obama offered the grade in an interview with KKTV yesterday, quickly adding that "the steps that we have taken in saving the auto industry, in making sure that college is...

Romney Win a Sure Thing: Election Model

Model based on economy would have correctly predicted last 8 elections

(Newser) - Forget polls. If you want to know who's going to win in November, it's the economy, stupid. A new prediction model based on state-by-state economic data predicts that Mitt Romney will prevail with 320 electoral votes, snapping up nearly all of the key swing states, to President Obama'...

2000s Were 'Lost Decade' for Middle Class

Household incomes, net worth shriveled

(Newser) - The 2000s were a "lost decade" for America's middle class that left them poorer and more pessimistic than they were 10 years earlier, according to a Pew Research Center study. For the first time since at least World War II, middle-class incomes and net worth declined over the...

Economy Showing Signs of Life
 Economy Showing Signs of Life 
Aug 10, 2012 3:42 AM CDT

Economy Showing Signs of Life

But it may be too late to boost Obama

(Newser) - The American economy is hardly the picture of health, but more signs of recovery are emerging in time for the closing months of the White House race, the Washington Post finds. New home construction and housing prices have jumped , hiring is up, and the number of people seeking unemployment insurance...

Why Isn't Mitt Way Ahead in This Race?

Circumstances favor him, but Obama's winning 'day-to-day': Chris Cillizza

(Newser) - Looking at the stark figures, you'd think Mitt Romney would be cruising in this election: The unemployment rate has been higher than 8% for a record 42 months, six in 10 Americans think the US is moving in the wrong direction, and 41% strongly disapprove of President Obama's...

Unemployment Rises to 8.3%
 Unemployment Rises to 8.3% 
Aug 3, 2012 7:46 AM CDT

Unemployment Rises to 8.3%

Economy added 163K jobs in July

(Newser) - The good news: The economy added 163,000 jobs last month, which the AP calls a "hopeful sign" considering how slow the past three months of hiring have been. That makes July the best month of hiring since February. But in adding an average of 151,000 jobs a...

Calif. City's Budget Fix: Soda Tax

Would raise $7M per year, officials say

(Newser) - El Monte, Calif., is staring down a fiscal emergency, but it's about to pop the top on a solution that could raise $7 million per year: Tax sugary drinks. The California city will ask voters to decide on the plan, which calls for sugar-sweetened beverages sold within the city...

Cisco Slashing 1.3K Jobs

 Cisco Slashing 1.3K Jobs 
Jul 24, 2012 2:40 AM CDT

Cisco Slashing 1.3K Jobs

Tech company shares down 11% this year

(Newser) - As Cisco Systems continues to struggle, the computer-networking equipment maker plans to cut 2% of its workforce—around 1,300 jobs. Profits are down and shares fell 11% this year thanks in part to Europe's financial crisis and slower spending by corporate customers, Bloomberg notes. And an analyst says...

Meet &#39;Generation Screwed&#39;
 Meet 'Generation Screwed' 
OPINION
Jul 16, 2012 1:56 PM CDT

Meet 'Generation Screwed'

Past generations have made things hard for millennials: Joel Kotkin

(Newser) - Today's youth is known as the Millennial Generation, but they may as well be called Generation Screwed. In the Daily Beast , Joel Kotkin runs down depressing statistic after depressing statistic showing that "their parents' fiscal profligacy and economic mismanagement" has doomed young people:
  • The median net worth of
...

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