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Economy Tag

Posted by Mary Chastain on July 17, 2018 31 Comments
Oh, Chicago. I love my home city so much, but it keeps giving me reasons to never move back! Now the corrupt city has decided to toy with universal basic income (UBI) because we all know Chicago has a ton of money to throw around. Except it doesn't.

Posted by Mary Chastain on July 16, 2018 14 Comments
Our economy continues to grow. Excellent jobs reports mean there's a lot more expendable income. Stimulating the economy is best accomplished not through government intervention, but by putting money back into the market, which is exactly what we're seeing. Consumer spending rose by 0.5% in June and the Commerce Department revised May's spending report, upgrading spending increases from 0.8% to 1.3%. Overall, retail sales are up 6.6% from a year ago.

Posted by Mary Chastain on July 06, 2018 11 Comments
All in all, it's not a bad jobs report to kick off the summer. The Labor Department's report shows the economy added 213,000 new jobs in June even though experts predicted only 190,000. This means job growth has happened 93 months in a row, which is a record. Unemployment went up to 4% from 3.8%, but that probably went up because of the rise in labor participation.

Posted by Leslie Eastman on May 28, 2018 31 Comments
The U.S. has trumped Hong Kong to retake first place among the world’s most competitive economies, thanks to faster economic growth and deregulation that is promoting innovation. The Switzerland-based IMD World Competitiveness Center, which conducted the analysis, had Singapore, the Netherlands, and Switzerland rounding out the top 5 spots.

Posted by Mary Chastain on May 11, 2018 23 Comments
Wait, what? Did the Democrats actually listen!? Has Hell frozen over? For the past few weeks, I've blogged about the Democrats' loss of registered voters, how millennials have turned their backs to the Democrats because they want jobs, and a Democrat pollster's recommendation the party concentrate on the economy. Maybe, just maybe, the Democrats have opened their ears and eyes! Minority Leader Nancy Pelosi (D-CA) has urged Democrats to spend more time on economic issues instead of bashing President Donald Trump.

Posted by Mary Chastain on May 04, 2018 17 Comments
The April jobs report has a few good and bad items. The economy added 164,000 jobs, which sounds great, but below the 175,000 - 190,000 forecasters predicted. The biggest news? The U.S. unemployment rate is at 3.9%. This is the first time the unemployment rate is below 4% since 2000.

Posted by Fuzzy Slippers on December 28, 2017 19 Comments
Prior to the Brexit vote, the Centre for Economics and Business Research (CEBR) lent fuel to the "remain" proponents' "Project Fear" by predicting economic gloom for the UK should voters choose "leave."  Their doom and gloom report assured the world that leaving the EU would plunge the UK into economic decline. Indeed, the Bank of England predicted, incorrectly as it's turned out, that a UK vote to leave the EU would lead to recession.  This didn't happen, and as I noted in 2016, the UK has no problem reaching trade agreements on its own.  Unfettered by the EU albatross, the UK economy is now expected—by the CEBR no less—to flourish.

Posted by Mary Chastain on October 27, 2017 5 Comments
Despite two massive hurricanes, the GDP, which is the measure of goods and services produced in America, grew to 3% in the third quarter. Experts estimated a growth of only 2.5% because of the natural disasters, but the "increase in inventory investment and a smaller trade deficit" helped offset the slow spending after the hurricanes. The White House economists have also said that if the proposed changes to corporate taxes go through the GDP could jump between 3 and 5 percent in a few years.

Posted by Mary Chastain on October 04, 2017 12 Comments
When will companies learn to listen to their consumers? Maybe PepsiCo will now that its profit dropped 10% in the third quarter after it devoted more time to healthier drinks instead of its staples like Pepsi and Mountain Dew. From The Wall Street Journal:
PepsiCo this year shifted resources away from its namesake cola and Mountain Dew toward new products such as its premium bottled-water brand, LIFEWTR, and a sparkling lemonade called Lemon Lemon, finance chief Hugh Johnston said in an interview Wednesday.

Posted by William A. Jacobson on September 20, 2017 11 Comments
It's tough for bricks-and-mortar retailers. We reported earlier this year, how Retailers Filing for Bankruptcy Keep Piling Up, May Set Record in 2017. And recently how Toys R Us Files for Chapter 11 Bankruptcy. Chapter 11 at least allows a retailer to reorganize, and perhaps survive in some form. But other retailers are simply folding up shop and going out of business. Benny's is an iconic discount Rhode Island retailer. It has been part of the Rhode Island landscape for generations. It was a discounter before there were discounters, and somehow it survive the big box stores and Wal Mart.

Posted by Mary Chastain on September 08, 2017 31 Comments
On Thursday, major national credit-reporting company Equifax revealed that a cyberattack from July exposed personal information of about 143 million U.S. consumers. The company wrote in a statement:
The information accessed primarily includes names, Social Security numbers, birth dates, addresses and, in some instances, driver's license numbers. In addition, credit card numbers for approximately 209,000 U.S. consumers, and certain dispute documents with personal identifying information for approximately 182,000 U.S. consumers, were accessed. As part of its investigation of this application vulnerability, Equifax also identified unauthorized access to limited personal information for certain UK and Canadian residents. Equifax will work with UK and Canadian regulators to determine appropriate next steps. The company has found no evidence that personal information of consumers in any other country has been impacted.

Posted by Mary Chastain on September 04, 2017 29 Comments
We've all heard the same advice: get good grades in high school and get a bachelor's degree. A bachelor's degree has become so common that a lot of people have entered graduate school to get a master's or a PhD. That push has led to a shortage of tradespeople, especially as those in jobs usually described as "blue collar work" grow older. So what do we do now? Some states have started to push more money to promote vocational education.
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