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FILE - In this March 17, 2014 file photo, Robert and Sarah Reynolds, left, check out a new Tesla all electric car with Tesla representatives John Van Cleave and Raven Rivera, right, at a Tesla showroom inside the Kenwood Towne Centre in Cincinnati. The Commerce Department releases durable goods for May on Wednesday, June 25, 2014. (AP Photo/Al Behrman)The Associated Press

WASHINGTON – Orders for U.S. durable goods tumbled 1 percent in May as demand for military equipment fell sharply.

Published in US NEWS

WASHINGTON – The Great Recession and the slow recovery have sharply widened the gap between the wealthiest Americans and everyone else, according to a study that underscores the unevenness of wealth gains since the recession ended.

The richest 5 percent had 24 times the wealth of the median household in 2013 — up substantially from 16.5 times as much in 2007, according to a study by University of Michigan researchers.

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Published in US NEWS

WASHINGTON – Fewer Americans sought unemployment benefits last week, as the number of people collecting jobless aid fell to its lowest level in more than six years.

The Labor Department says weekly applications for unemployment benefits fell 6,000 to a seasonally adjusted 312,000. The four-week average, a less volatile measure, declined to 311,750.

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There are 2.56 million people receiving benefits. That's the lowest total since October 2007, about two months before the recession began.

Published in US NEWS
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This photo released by Warner Bros. shows director/producer, Clint Eastwood, on the set of Warner Bros. Pictures’ musical “Jersey Boys,” a Warner Bros. Pictures release. (AP Photo/Warner Bros. Pictures, Keith Bernstein)The Associated Press

Ahead of his Broadway adaptation "Jersey Boys" on Friday, Clint Eastwood, 84, shares his thoughts on how to stay young, his first time acting and why America is "floundering":

ON DIRECTING LATE IN LIFE

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.

 

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GNO Inc's Michael Hecht stokes New Orleans region rapid acceleration


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