U.S. added robust 273K jobs in February before virus escalated
The Labor Department said Friday that the unemployment rate fell to 3.5% last month, matching a 50-year low, down from 3.6% in January.
Economy
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Upcoming U.S. jobs data will provide gauge for virus economic damage
A range of job market barometers will provide some of the most vital signals about the economy in the coming weeks and months.
Fed survey finds coronavirus affecting parts of U.S. economy
The Federal Reserve’s latest nationwide survey of business conditions has found that the coronavirus outbreak has begun to affect tourism and disrupt manufacturing chains in parts of the United States.
Financial pain deepens as nearly 60 countries report coronavirus
If the disease known as COVID-19 becomes a global pandemic, economists expect the impact could be much worse, with the U.S. and other global economies falling into recession.
U.S. orders for durable goods slipped 0.2% in January
Orders to U.S. factories for big-ticket manufactured goods were pulled down by decreased demand for cars, auto parts and military aircraft, but the category that tracks business investment rose significantly.
U.S. business gauge tumbles to lowest since 2013 on virus
Service providers and manufacturers are noting reluctance among clients to place orders amid the global virus scare.
Economic fallout from China’s coronavirus mounts across globe
Among the first tangible impacts in the U.S. is a decline in the number of Chinese tourists. Visitors from China represent a lucrative market for American airlines, hotels, luxury retailers and entertainment venues.
U.S. retail sales up a modest 0.3% in January
It was a slight improvement over December, as unseasonably warm weather boosted sales at hardware stores and furniture stores.
Fed chair: Economy looks resilient despite risk of China virus
Jerome Powell told Congress on Tuesday that the Fed is monitoring developments stemming from the coronavirus, which he said “could lead to disruptions in China that spill over to the rest of the global economy.”
Open jobs fall sharply for 2nd straight month
U.S. businesses sharply cut the number of open jobs in December for the second straight month, an unusual sign of weakness in an otherwise healthy job market.
U.S. productivity up 1.7% in 2019, best gain in nine years
Productivity, a key factor needed to boost living standards, has been lagging for most of this record-long expansion, now in its 11th year.
Clock ticking for companies that depend on China imports
If much of industrial China remains on lockdown for the next few weeks, Western retailers, auto companies and manufacturers that depend on Chinese imports will start to run out of the goods they depend on.
China readies cushion for virus shock when markets re-open
China’s central bank announced plans Sunday to inject 1.2 trillion yuan (about $173 billion) into the economy to cushion the shock to financial markets from the outbreak of the new virus when trading resumes Monday.
U.S. worker compensation growth slowed a bit in 2019
Americans’ pay and benefits rose at a solid pace last year, but at a slightly slower rate than in 2018, the Labor Department said Friday.
Companies with China ties start to feel virus impact
The dangerous virus spreading through China threatens a wide range of industries with ties to the world’s second largest economy.
U.S. economy grew at moderate 2.1% rate in fourth quarter
For the whole year, GDP increased 2.3%, the weakest performance in three years and a slowdown from a 2.9% gain in 2018.
Fed leaves key rate unchanged at low level amid global risks
The Federal Reserve sketched a mostly positive picture of the U.S. economy after its latest policy meeting. It also repeated its pledge to “monitor” the world economy, which may be held back in the coming months by China’s viral outbreak.
U.S. consumer confidence shows solid gain in January
The increase, which followed a more moderate advance in December, reflected a more positive assessment of the current job market and increased optimism about future job prospects.
Survey of business economists finds slight rise in optimism
The latest survey by the National Association for Business Economics released Monday found economists are slightly more optimistic about economic growth than they were three months ago, and most foresee sales at their companies remaining solid.
Climate not considered top-10 risk in survey of CEOs
In its annual report ahead of the World Economic Forum in Davos, financial services group PwC said climate change and environmental issues are ranked by chief executives as the 11th biggest threat to their companies’ growth prospects.