The economy expanded at an annual rate of 3.7 percent in the April-June quarter, more than a percentage point greater than the 2.3 percent originally estimated last month, the Commerce Department reported Thursday.
The Standard & Poor’s 500 Index fell into a correction Monday for the first time since 2011 in one of the most volatile trading days ever, as a rout in global equity markets deepened.
A wave of fear triggered by instability in China initially doused U.S. stocks on Monday morning, but then quickly receded by noon.
Employers added 215,000 jobs in July and the unemployment rate held at a seven-year low of 5.3 percent, possible signs of further progress in the U.S. labor market that’s keeping the Federal Reserve on the path toward raising interest rates as soon as next month.
The U.S. economy grew more slowly over the past three years than the government had previously estimated, held back by more frugal consumers and steeper spending cuts by state and local governments.
The state’s unemployment rate fell to 4.9 percent in June, sinking below 5 percent for the first time since February 2008, the Indiana Department of Workforce Development said Tuesday morning.
The overall survey results, compiled by the National Association for Business Economics, portray an economy muddling along at a steady, if tepid, pace.
The rate fell mostly because many people out of work gave up on their job searches and were no longer counted as unemployed. Average hourly pay was flat.
The trend indicates that employers are confident enough in future consumer demand to retain their staffs. The number of people receiving benefits fell 50,000 to 2.22 million.
U.S. economic growth in the second quarter is predicted to be far weaker than previously expected and it will prevent the pace of annual growth from exceeding last year's 2.4 percent, according to a forecast by a group of U.S. business economists.
The government’s revised estimate for last quarter, released Friday, was weaker than its initial estimate of 0.2-percent growth. The U.S. trade gap was found to be wider than first estimated. And consumer spending was slower than previously thought.
The state’s unemployment rate fell from 5.8 percent in March to 5.4 percent in April, the Indiana Department of Workforce Development announced Wednesday.
U.S. consumer prices were up slightly in April, but overall gains were held back by another decline in energy costs that offset the biggest one-month jump in medical care in eight years.
The retail sales report also raises the possibility that nasty winter weather can't entirely explain the recent lackluster consumer spending in prior months, since the anticipated spring rebound has not materialized.
Years after the Great Recession battered construction, and consequently the architecture profession, the state’s largest architecture program survived by pitching itself as a top-flight school.
The Federal Reserve said Wednesday that industrial production—which includes factories, utilities and mines—slid 0.6 percent in March, the biggest drop since a 1.1-percent drop in May 2009.
Last month's subpar hiring could make the Federal Reserve less likely to start raising interest rates from record lows in June, as some have been anticipating. The Fed might now decide that the economy still needs the benefit of low borrowing costs.
Employers added only 126,000 jobs, the fewest since December 2013 and snapping a streak of 12 straight months of gains above 200,000. Wage growth remained modest.
Consumer spending edged up a tiny 0.1 percent following declines of 0.2 percent in both January and December, the Commerce Department reported Monday.
The U.S. unemployment rate fell to 5.5 percent from 5.7 percent, the government said Friday. But the rate declined mainly because some people out of work stopped looking for jobs and were no longer counted as unemployed.
