September consumer spending weakens while incomes dip
Americans slowed their spending in September to the weakest pace in three months and their incomes fell for the first time in 14 months.
Economic Recovery
Articles
U.S. economy grew anemically in third quarter
The government reported Friday morning that the economy expanded at a 2-percent annual rate in the July-September quarter. It marked a slight improvement from the feeble 1.7-percent growth in the April-June quarter.
Orders for capital goods fall as business spending cools
The report raises the risk that business investment, which had been contributing to a rebound from the worst recession in generations, will decelerate in coming months, underscoring the Federal Reserve’s concern that growth is too slow.
Strategist: U.S. economy picking up pace, slowly
The economy is picking up its pace but not quickly enough to satisfy the public, Fifth Third Bank strategist John Augustine said Friday. It may not return to pre-recession levels until 2017.
HICKS: Why the stimulus didn’t stimulate enough
The failure of the American Recovery and Reinvestment Act to deliver us from high unemployment will provide research grist for economists for decades to come.
Initial claims for unemployment aid rise again
The rise suggests that jobs remain scarce and some companies are still cutting workers amid sluggish economic growth.
New unemployment claims fall to lowest in 2 months
Still, the economy is barely growing and hiring is slow. Businesses and other private employers added a net total of 67,000 jobs in August, the Labor Department said.
Machine-tool maker Hurco hopes trade show sparks sales
The Indianapolis-based maker of computerized metal-cutting tools piled up record profits in fiscal years 2005 through 2008, but now is trying to leave behind a second year of losses.
New filings for jobless benefits fall to two-month low
Even with latest decline, new filings for jobless benefits are still much higher than they would be if the economy is healthy.
National unemployment rate back on the rise
Overall, the economy lost 54,000 jobs as 114,000 temporary census positions came to an end. State and local governments shed 10,000 positions. The jobless rate rose to 9.6 percent from 9.5 percent in July.
New jobless claims drop for first time in 4 weeks
However, about 10.1 million people were receiving unemployment checks in the week ended Aug. 7, the latest data available.
That’s up about 260,000 from the previous week.
HICKS: Expectations can’t erase sluggish recovery
While the economy continues to recover, the pace is agonizingly slow. The reasons for this are becoming clear.
MARCUS: Unemployment is a waste of our resources
People have to be hired to do valuable things with the money the government pumps into the economy. That money can’t be given to people or to businesses with the hope that they will use it. It has to be spent on activities that increase employment.
New jobless claims hit highest level in six months
Initial claims for unemployment benefits have now risen in three of the last four weeks and are close to their high point
for the year of 490,000, reached in late January.
Productivity falls for first time since 2008
Worker productivity declined at an annual rate of 0.9 percent in the April-to-June quarter after posting large gains throughout
2009, the Labor Department said Tuesday.
Daniels: Stimulus should focus on companies, not states
Indiana Gov. Mitch Daniels said he opposes more stimulus such as aid to states to keep teachers hired and to expand credit
to small business, while favoring incentives to revive private hiring and investment.
Stocks retreat after disappointing jobs report
The disappointing jobs data magnifies worries that slowing growth could end up leading the country back into recession during
the second half of the year.
New claims for jobless benefits jump again
Initial requests for jobless benefits rose last week to their highest level since April, a sign that hiring remains weak and
some companies are still cutting workers.
Consumer spending, personal incomes stagnant
Personal spending was unchanged in June, the Commerce Department reported Tuesday. It was the third straight month of lackluster
consumer demand. Incomes were also flat, the weakest showing in nine months.
Economic growth likely slowed in second quarter
Economists expect the government to report Friday that economic growth slowed in the April-to-June quarter as consumers bought
less, builders pulled back further, and cash-hungry state and local governments cut spending.