logo-cropped

Buzz

WASHINGTON – The job market for new college graduates is brightening but remains weaker than before the Great Recession began.

The Labor Department reports that the unemployment rate for 2013 college graduates — defined as those ages 20 to 29 who earned a four-year or advanced degree — was 10.9 percent. That was down from 13.3 percent in 2012 and was the lowest rate since 7.7 percent in 2007.

ADVERTISEMENT

ADVERTISEMENT

Published in US NEWS

FILE - In this Saturday, Jan. 5, 2013 photo, a person demonstrates using a credit card in an ATM in Pittsburgh. The Federal Reserve on Monday, April 7, 2014 will release a report on how much consumers borrowed in February. (AP Photo/Gene J. Puskar, File)The Associated Press

WASHINGTON – Consumers increased their borrowing in February on autos and student loans by the largest amount in a year.

Published in US NEWS

WASHINGTON – Few people responded to the March jobs report with high-fives and cheers. But there may be reasons to applaud in the months ahead.

Hiring in March was close to the economic recovery's steady but hardly explosive monthly average of the past two years: 192,000 added jobs. The unemployment rate remained 6.7 percent for a second straight month, according to the government's report Friday.

ADVERTISEMENT

ADVERTISEMENT

That wasn't the blockbuster figure predicted by some economists, who figured hiring would take off in March after a winter when factory orders, home sales and auto buying were slowed by severe weather.

Published in US NEWS

WASHINGTON – The number of people seeking U.S. unemployment benefits fell 10,000 last week to a seasonally adjusted 311,000, the lowest since late November and a hopeful sign hiring could pick up.

The four-week average of applications, a less volatile measure, fell 9,500 to 317,750, the Labor Department said Thursday. That is the fourth straight drop and the lowest level in six months.

The sustained decline suggests companies are confident enough about future growth to keep their staffs.

Published in US NEWS

As Venezuela grapples with economic turmoil and widespread protests, a law that effectively prohibits companies from firing workers continues to restrict the country’s ability to compete in the global economy.

Anti-government protests led by university students and other groups escalated last month, with tempers flaring over shortages of basic goods like toilet paper and medicine.

Meanwhile, President Nicolas Maduro has called the movement a “coup in motion.” So far, about 20 people have been killed in clashes between protestors and security forces, and opposition leader Leopoldo Lopez was arrested in February.

Published in US NEWS

LOS ANGELES – Americans are boarding public buses, trains and subways in greater numbers than any time since the suburbs began booming.

Nearly 10.7 billion trips in 2013, to be precise — the highest total since 1956, according to ridership data reported by transit systems nationally and released Monday by the American Public Transportation Association.

Transit ridership has now fully recovered from a dip caused by the Great Recession. With services restored following economy-driven cutbacks, ridership numbers appear set to continue what had been a steady increase.

Published in US NEWS

WASHINGTON – Consumers increased their borrowing in January on autos and student loans but cut back on their credit card use.

Consumer borrowing rose $13.7 billion in January following an even larger $15.9 billion rise in December, the Federal Reserve reported Friday.

The category that includes auto and student loans increased $13.9 billion while the category that covers credit cards fell $226 million, marking the third time in the past five months that credit card loans have declined.

Published in US NEWS

WASHINGTON – A surging stock market and rebounding home prices boosted Americans' wealth to a record in the final three months of last year, though both trends have slowed so far in 2014.

Household net worth jumped nearly $3 trillion during last year's fourth quarter to $80.7 trillion. Stock and mutual fund portfolios gained nearly $1.7 trillion, or 9 percent, according to a Thursday report by the Federal Reserve.

The value of Americans' homes rose just over $400 billion, a 2 percent gain.

Published in US NEWS


laurel-hardyIn this troubled economy, Americans are hurting, especially the middle class. A new Pew Research Center report indicated that the middle class is shrinking and becoming poorer.

Median household income and net worth are down sharply as 85% report that it is more difficult than a decade ago to maintain their standard of living. These statistics just confirm how tough of an economic climate America faces today.

 

Published in Latest Buzz