Economy

U.S. economy loses 33,000 jobs after hurricanes, first decline in seven years. But unemployment falls to 4.2 percent

Widespread flooding caused by Hurricane Harvey in La Grange, Tex. (Ralph Barrera/Austin American-Statesman/AP) The U.S. economy lost 33,000 jobs in the aftermath of Hurricanes Harvey and Irma last month, the first decline since September 2010. The unemployment rate declined slightly to 4.2 percent, the lowest since February 2001. Analysts had been expecting job growth to slump in September after the one-two punch ... Read More »

American optimism about the economy hits an all-time high in new CNBC survey

The public’s views on the economy continue to cruise at lofty levels but the optimism does not appear to be lifting the president’s approval rating. The third-quarter CNBC All-America Economic Survey found 43 percent of the public believes the economy is excellent or good, a record high in the 10-year history of the survey. Thirty-six percent believes the economy will ... Read More »

Report: Southeast Alaska Economy Struggling, Tourism Excels

JUNEAU, Alaska (AP) — Southeast Alaska was hit hard in 2016 by government job losses and a lull in fishing production, but the tourism industry continues to grow, a state economy expert said. Economic development officials with the Southeast Conference found that the region lost 750 state jobs throughout the past three years, a nearly 15 percent drop, CoastAlaska News reported (http://bit.ly/2g2blP1 ... Read More »

Economy is on a downhill path, demonetisation was not required at all: Manmohan Singh

Former Prime Minister Manmohan Singh on Friday said the economy is on a “downhill path” because of the “adventure” of demonetisation undertaken last year which was not required at all, either technically or economically. Singh, a renowned economist considered to be the architect of the reforms of early 1990s, said demonetisation has not been successful in any civilised country, except ... Read More »

The Economy Is Working For Workers, Washington Isn’t

Amid endless stories of Washington’s dysfunction, another powerful story is emerging, and it seems almost independent of any actions of the President or Congress. In poll after poll, public perceptions of the economy’s performance are up. People’s views of their own situations are more positive than at any time in the past 15 years. In its mid-September preliminary analysis of ... Read More »

Weakest eurozone economies on long road to recovery

Prime minister Mariano Rajoy has made it easier for Spanish firms to sack employees. Photograph: Albert Gea/Reuters Jean-Claude Juncker’s hailing of Europe’s economic recovery came in terms that would have been unimaginable at the height of the eurozone debt crisis in 2010. Back then, the focus of concern was on a handful of countries that ultimately required bailouts – Greece, Portugal and Ireland ... Read More »

China looks to be slowing again as domestic economy runs out of puff

China’s economy looks to pulling back into the slow lane after a range of data has shown a broad loss of momentum in domestic demand. Key points: Electricity, steel and cement production slowed in August Front-loaded infrastructure spending from earlier in the year slows rapidly Cooling retail sales centre on sectors linked to the property cycle The key monthly readings ... Read More »

Zombie companies haunt the Canadian economy

e Toronto Stock Exchange and TSX Venture Exchange that he said collectively had negative working capital of $2-billion. Mr. Simon followed up by identifying an additional 512 non-mining companies that together were in the hole – having negative working capital – of an additional $2.1-billion. Zombies haunt the Canadian economy because they drain resources from productive firms, says Glen Hodgson, ... Read More »

The economy is not strong, wages remain weak, and rates will stay on hold

The annual growth rate is still well below par, despite what Scott Morrison says. If Treasurer Scott Morrison really thinks the latest report on the health of the Australian economy represents a “strong set of numbers”, it will be interesting to see what sort of adjectives he comes up with to describe them when they really are strong. The economy is not ... Read More »

UK economy loses momentum as fears mount about cost of Brexit, find latest surveys

The weaker growth trend in services was most evident in consumer-facing sectors such as restaurants, cinemas, gyms and hairdressers The UK economy is losing momentum as fears mount about Brexit, according to the latest round of industrial surveys. The Purchasing Managers’ Index for services in August came in at 53.2, down from 53.8 in July. Any figure above 50 signals expansion, but the ... Read More »