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The Latest News about the economy

The economy ebbs and flows, but whether it’s strengthening or weakening, we report on how it affects you.

Canada, Mexico, EU will miss out on America’s red-hot economy as they push trade restrictions

Donald Trump success

America’s closest trading partners are in danger of becoming former close trading partners at a time when the American economy is booming and trade revenues are set to skyrocket. Mexico threatened to punish U.S. hog farmers this week with a punitive tariff on some of their products. In reality, the measure will just make pork legs more expensive for the ...

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Report: Hiring in the oil industry surging

Crude oil price vs. hiring rates May 2018

New data from LinkedIn’s June Workforce Report shows increased hiring in the oil and energy sector, impacting oil-centric cities like Houston, TX. This month’s data also illustrates how industry-dependent cities are heavily impacted by the highs and lows of business cycles. Oil industry turns up the heat on hiring – Nationally, across all industries, gross hiring in the U.S. was 4.5% higher than in May ...

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U.N. Expert blasts Trump for treatment of poor; uses only Obama-era statistics

Philip Alston

A United Nations human rights investigator railed against the Trump administration saying that their policies were removing protections from the poorest and rewarding the wealthy – a line often heard from left-wing extremists. “But the policies pursued over the past year seem deliberately designed to remove basic protections from the poorest, punish those who are not in employment and make ...

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Trump Effect: Second Quarter GDP Forecast at 4.8% – besting Obama predictions

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The Trump economy is not only growing, but accelerating according to the newest forecast from the Atlanta Federal Reserve’s GDPNow model. The forecast sees consumer spending growth and private fixed investment growth increased from 3.4 percent and 4.6 percent, respectively, to 3.5 percent and 5.4 percent, respectively based on the May employment report, the construction spending report, and the Manufacturing ISM ...

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Nancy Pelosi Doesn’t Think Lower Unemployment, More Jobs Is A Good Thing

  by Robert Donachie House Minority Leader Nancy Pelosi doesn’t think Friday’s stellar jobs report is a good thing because it happened under Republican control of the White House and Congress. “May’s jobs report shows that strong employment numbers mean little to the families hit with soaring new costs under the Republicans’ watch,” Pelosi wrote in a statement to supporters ...

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223,000 new jobs in May; Unemployment at lowest since 1969

economy going up

Total nonfarm payroll employment increased by 223,000 in May, and the unemployment rate edged down to 3.8 percent, the lowest rate since 1969, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in several industries, including retail trade, health care, and construction. The May jobs numbers were so good that even The New York Times had trouble ...

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US IT Sector Records Fourth Consecutive Month of Job Growth

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The U.S. information technology (IT) sector added an estimated 8,700 new jobs in May, the fourth consecutive month of employment growth, according to CompTIA, the leading technology industry association. A CompTIA analysis of today’s Bureau of Labor Statistics “Employment Situation” report finds May job growth occurred in three categories: IT services, custom software development and computer system design (+ 6,600 jobs) ...

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Trump Effect: Manufacturing sector continues expansion in May

New Orders, Production, and Employment Growing Supplier Deliveries Slowing at Faster Rate; Backlog Growing Raw Materials Inventories Growing; Customers’ Inventories Too Low Prices Increasing at Faster Rate; Exports and Imports Growing Economic activity in the manufacturing sector expanded in May, and the overall economy grew for the 109th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM Report. “The May PMI® registered 58.7 ...

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Record Number Of Small Businesses Are Raising Wages Amid Tight Labor Market

economy going up

  by Will Racke A greater share of small companies in the U.S. are raising wages than at any time in the past three decades, according to a survey released Thursday from the nation’s biggest independent business association. A seasonally adjusted 35 percent of small business owners reported they have increased labor compensation in order to recruit new employees or retain ...

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Private Sector Employment Increased by 178,000 Jobs in May

Private sector employment increased by 178,000 jobs from April to May according to the May ADP National Employment Report®.  Broadly distributed to the public each month, free of charge, the ADP National Employment Report is produced by the ADP Research Institute® in collaboration with Moody’s Analytics.  The report, which is derived from ADP’s actual payroll data, measures the change in total nonfarm private employment ...

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