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.
Economy
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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.
U.S. adds 145,000 jobs; unemployment holds at 3.5%
A bright spot was the U-6, or underemployment rate, which fell to 6.7 percent, according to Bloomberg News. This level was lower than at any point since at least 1994.
U.S. consumer comfort rises to 19-year high on views of economy
Confidence among Americans surged to the best level since October 2000 on brighter views of the economy and finances, adding to signs that consumers will continue to underpin a record-long expansion.
Slump in aircraft production brings down orders for durable goods
Orders to U.S. factories for big-ticket manufactured goods fell by the largest amount in six months in November, led by a large decrease in orders for defense aircraft and parts. But a closely watched category that tracks business investment ticked up 0.1%.
U.S. consumer spending surged 0.4% in November, best since July
Americans increased their spending in November at the fastest pace in four months, and income growth rebounded to its strongest gain since August.
Employers post more job openings in sign of solid economy
The Labor Department said Tuesday that the number of available positions rose 3.3% in October, to nearly 7.3 million. That suggests that businesses remain confident enough in the economic outlook to create more jobs.
Fed likely to reinforce message of continued low rates
Persistently low inflation and steady if sluggish economic growth have led many Fed officials to rethink their view of the so-called “neutral rate.” This is the point at which the Fed’s key rate is believed to neither accelerate economic growth nor restrain it.
U.S. gains whopping 266,000 jobs; unemployment rate hits 50-year low
In Friday’s hiring data, besides reporting the healthy November gain, the government revised up its estimate of job growth for September and October by a combined 41,000.
Merry Clickmas: Black Friday online sales hit record $7.4B
In-store sales slipped, but sales by people who bought things online and then headed to the store to pick them up surged 43.2% on Black Friday, according to Adobe Analytics.
Third-quarter GDP revised upward on higher-than-estimated biz spending
The July-September growth rate in the gross domestic product, the economy’s total output of goods and services, exceeded the Commerce Department’s initial estimate of a 1.9% annual rate.