The World Street Journal reports that U.S. economic growth accelerated last quarter, easing fears of a near-term slowdown but doing little to change the trajectory of a long but weak expansion. Gross domestic product, a broad measure of goods and services produced across the economy, expanded at an inflation- and seasonally adjusted 2.9% annual rate in… Continue reading US Economic Growth Accelerates – 2.9% Growth in Third Quarter
Category: Economic growth
Nancy Pelosi’s Statement Praising the 5.6% Unemployment Rate
Hey, Mitch McConnell went on the Senate floor and lied to the world that he and the Republicans are responsible for the economic growth. Yes, he was lying, but he is a Republican so lying is expected. But if Mitch can lie about something he did not do, why can’t one of the people responsible… Continue reading Nancy Pelosi’s Statement Praising the 5.6% Unemployment Rate
Good News – Jobless Claims at 8 Year Lows
There are multiple reasons why the jobless claims data fall. The best reason however, is confidence in the economy, which leads to economic growth, which leads to fewer jobless claims being filed. The number of unemployed workers applying for jobless benefits tumbled in the most recent weekly data to the lowest level in more than… Continue reading Good News – Jobless Claims at 8 Year Lows
More Good News – Retail Sales Saw Solid Gains In February
More good news for the economy. Reuters is reporting that retail sales rose solidly in February as Americans bought automobiles and other goods even as they paid more for gasoline, suggesting consumer spending this quarter will hold up despite higher taxes. The Commerce Department said on Wednesday retail sales increased 1.1 percent, the largest rise since… Continue reading More Good News – Retail Sales Saw Solid Gains In February
Republicans Say “It’s All About Jobs,” So They Will Cut 700,000 More
When John Boehner said, “if we lose 200,000 federal jobs, so be it,” we listened and thought the figures didn’t add up. A little research into the facts revealed the figure was more like 20,000 to 40,000 jobs lost if Boehner got his way. Now, after economists studied the Republican budget and the effects of… Continue reading Republicans Say “It’s All About Jobs,” So They Will Cut 700,000 More