All The New Economy
US consumer spending increases 0.3 percent in JulyAs consumer spending, personal income, and wages and salaries increase, the US economy is set for a good third quarter, economists say.
New home sales bounce back 5.4 percent in JulyNew home sales rose to a 507,000 annualized pace last month, according to data released Tuesday by the US Commerce Department.
US existing home sales hit 8-year high, but first-time buyers squeezed outExisting home sales rose a strong 2 percent to a 5.59 million annualized pace in July, marking the third straight month of sales increases. But the share of first-time buyers fell as rising costs and a lack of affordable homes for sale pushed many out of the market.
Trader Joe's: Good for cheap groceries, great for home valuesAccording to a new study, the value of homes near Trader Joe’s grocery stores have grown more quickly than those near its pricey yet equally beloved counterpart, Whole Foods.
As the economy improves, America's birthrate risesWhile there are multiple factors that influence the birthrate, experts say that the recession-induced decline appears to be coming to an end.
US economy adds 215,000 jobs in July, but job market trouble spots lingerThe US economy added 215,000 jobs in July, and the unemployment rate held steady at 5.3 percent. But wage growth and labor force participation are still concerns, even as the Fed moves toward raising interest rates by the end of the year.
Will US economic growth persuade the Fed to raise interest rates?The US economy expanded 2.3 percent in the second quarter with the help of consumer spending. Although the Federal Reserve said it will keep interest rates near zero, the economic growth means a hike is still a possibility.
The '9 to 5' job is going extinctEven in industries with traditional schedules, workers are more likely to do their job outside regular office hours and respond to work e-mails off the clock. That flexibility can lead to better work/life balance, but at the risk of blurring the boundaries between an employee's job and personal life.
As more Americans buy homes, will it ease the strain on renters?Existing home sales rose 3.2 percent to a 5.49 million annualized pace in June as stable job prospects and a much-improved economy encouraged buyers. But thanks to shifting demographics and the lingering effects of the housing crash, more Americans are still renting than they have in decades.
Gas, eggs drive US consumer prices up 0.3 percent in JuneUS consumer prices increased 0.3 percent in June, the Labor Department announced Friday. The rise in prices could support the Fed's intention to raise long-term interest rates before the end of 2015.
Are you an independent contractor? Probably not, Labor Department says.The Labor Department released detailed guidelines this week for determining whether businesses should designate their workers as "employees" or "independent contractors," and suggested that the latter classification has been used a bit to liberally as companies re-organize and streamline costs.
US retail sales dip 0.3% in June, weighing on Fed's interest rate decisionUS retail sales fell 0.3 percent in June, a far cry from analysts' expectations for a modest gain. As the economy has recovered well elsewhere, the weakness in the consumer sector has weighed heavily on the Federal Reserve’s eventual decision to finally raise long-term interest rates.
How far does $100 go in your state?The same amount of cash goes much further in states like Mississippi and Missouri than it does in expensive areas like Washington D.C. or Hawaii. But do better infrastructure and urban amenities make up for it?
Is the global middle class a reality? Not quite, study finds.Despite an historic reduction in global poverty from 2001-2011, the emergence of a global middle class is still just an aspiration, according to a Pew Research center study. Still, experts expect the pattern of raised living standards worldwide to continue.
Jeb Bush says Americans need to work longer hours. He’s (mostly) right.Jeb Bush drew fire for his comments about American workers, but he's right that millions of part-time employees need to work more hours. What's less clear is how he would make it happen.
June jobs report disappoints, but US workers shouldn't worryThe US economy added 223,000 jobs in June, and the unemployment rate fell to 5.3 percent. While factors like slow wage growth and low participation remain a concern, hopeful long-term prospects for workers were given an extra boost by President Obama and the Labor Department this week.
Buoyed by higher income, US consumers opened their wallets in MayConsumer spending rose 0.9 percent in May and posted its biggest monthly increase since 2009, according to data released Thursday by the Commerce Department.
Americans aren't saving enough, but Millennials do better than mostNearly a third of Americans say they do not have any emergency savings, according to a new report. Yet, Millennials are the most likely out of all age groups to have enough funds to cover them for a few months.
US existing home sales climb 5.1% in May, but prices also keep jumpingUS existing home sales beat economists's May expectations, accelerating to their fastest pace since November 2009. But the possibility of buyers shut out of the market still looms thanks to rising prices and mortgage rates.
US foreclosures hit 19-month high, but there's a silver liningForeclosure activity in the US is now at a 19-month-high, just one year after foreclosure activity was at an eight-year low. The good news? This is most likely a temporary hiccup as distressed home owners finally hand over their house keys to banks.
