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WATCH LIVE: Obama speaks on the economy in Ohio
President Barack Obama made a campaign stop in Ohio Thursday to address the state of the U.S. economy. A campaign email said, “The President will speak about the choice facing Americans this November — a choice between the failed economic policies of the past and a future that rewards hard…
Retail sales fall for second month in a row
US retail sales fell for a second consecutive month in May, the government reported Wednesday, a worrying sign that consumers are cutting back spending that fuels most of the economy. Retail sales fell 0.2 percent in May, following a revised 0.2 percent decline in April, the Commerce Department said. The…
Obama applauds lower unemployment rate
US President Barack Obama Friday welcomed a downtick in the unemployment rate to 8.2 percent, despite a slowdown in overall job creation, but said there was more work to do to revive the economy. “We welcome today’s news that our businesses created another 121,000 jobs last month and the unemployment…
US confirms economy grew 3.0% in Q4
The US economy grew at an annual rate of 3.0 percent in the fourth quarter of 2011, the Commerce Department said in its final estimate Thursday. The department’s third estimate for gross domestic product growth in the period was unrevised from its prior estimate and capped a year of steadily accelerating growth. GDP grew…
U.S. adds 227,000 new jobs, unemployment steady at 8.3 percent
The US jobless rate held steady at 8.3 percent in February after falling for five straight months, the Labor Department said Friday. The economy created another 227,000 new jobs, topping the the 200,000 mark for the third straight month, not enough to pull the unemployment rate lower but good enough…
GE to hire 5,000 U.S. veterans, investing in plants
WASHINGTON (Reuters) - General Electric Co plans to hire 5,000 U.S. military veterans over the next five years and to invest $580 million to expand its aviation footprint in the United States this year. The largest U.S. conglomerate unveiled the moves ahead of a four-day meeting it is convening in Washington starting on Monday…
Obama: ‘We can’t have an honest conversation’ about income inequality
WASHINGTON — US President Barack Obama on Sunday hit back at critics who say he is trying to redistribute wealth, and challenged his Republican opponents to deal with growing income inequality. In an interview with the CBS News program “60 Minutes,” Obama countered rivals who claimed he is moving toward…
Egypt ‘committed to free market’ after investor fears
CAIRO — Egypt’s deputy prime minister said on Sunday that his country was committed to a free market economy, after the ownership of three companies was returned to the state, sparking fears among investors. “The government will not backtrack on a free market economy,” said Hazem al-Beblawi, who is also…
Entry-level salaries up for new graduates
Though the U.S. economy is still in a slump and the jobs numbers released Friday are still dire, with a rise to 9.2 percent unemployment (the highest rate this year), there is good news. There may not be many entry-level jobs—or at least, fewer people working—but data released by the…
Jobs barely rise, dashing hopes of economic revival
WASHINGTON (Reuters) – U.S. employment growth ground to a halt in June, with employers hiring the fewest number of workers in nine months, dampening hopes the economy was on the cusp of regaining momentum after stumbling in recent months. Nonfarm payrolls rose only 18,000, the weakest reading since September, the…
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