The director-general of the World Trade Organization says negotiators have failed to craft the first global trade deal in more than a decade, which could have given the world economy a $1 trillion boost. Roberto Azevedo says diplomats from the WTO's 159 members tried hard but "cannot cross the finish line here in Geneva" ahead of a summit where ministers were to have signed the deal in Bali, Indonesia, next week.
Unemployment fell in 28 U.S. states last month, and employers added jobs in 34 states. The gains suggest recent improvements in the job market have occurred in most regions of the country. The Labor Department said Friday that unemployment rates rose in 11 states and were flat in 11. Employers cut jobs in 15 states.
A draft text presented Friday, the last scheduled day of the two-week conference in Warsaw, gave only vague direction on when countries should present their targets for restricting carbon emissions. That's a key element of the deal that's supposed to be adopted in Paris in 2015.
Job postings rose 69,000 to a seasonally adjusted 3.9 million, the Labor Department said Friday. That's the most since March 2008, just a few months after the Great Recession began. It's also close to the roughly 4 million job openings each month that are consistent with healthier job markets.
Manufacturing businesses considering a capital equipment investment may want to act now to take full advantage of long-standing capital equipment tax breaks set to expire on Dec. 31 and IRS equipment depreciation guidelines providing year-end benefits.
Overall, confidence in the equipment finance market is 56.9, an increase from the October index of 54.0, demonstrating an overall steady industry outlook despite continuing concerns about the U.S. economy and the negative impact of federal government fiscal policies.
The number of people applying for U.S. unemployment benefits fell 21,000 to a seasonally adjusted 323,000 last week, the lowest since late September and further evidence of an improving job market.The Labor Department says the less volatile four-week average fell for the third straight week to 338,500.
Consumers shrugged off the 16-day partial government shutdown and spent more on autos, clothing and furniture in October, boosting U.S. retail sales by the most in four months.Sales rose 0.4 percent, up from a flat reading in September, the Commerce Department said Wednesday.
The Labor Department says the consumer price index fell 0.1 percent last month, down from a 0.2 percent gain in September. The October decrease was primarily due to a 2.9 percent drop in gasoline costs, the largest since April. Over the last 12 months, overall prices have increased 1 percent, well below the Federal Reserve's inflation target of two percent.
U.S. businesses increased their stockpiles in September by the largest amount in eight months while sales posted a modest gain. The Commerce Department says business inventories rose 0.6 percent in September compared with August. Sales rose 0.2 percent.
A surging stock market usually comes with a boom in corporate deal-making. But deals are lagging this year, even as the market notches a series of record highs and is headed for its best year in a decade.
A House panel plans to investigate allegations in a published report that workers in the Census Bureau fabricated data used to prepare monthly unemployment reports. The probe comes in response to a report Monday in the New York Post that says census data was manipulated in advance of the 2012 presidential race.
The Labor Department says that compensation increased a seasonally adjusted 0.4 percent in the third quarter compared to the April-June quarter when compensation had risen 0.5 percent. Wages and salaries, which make up 70 percent of compensation costs, rose 0.3 percent in the third quarter while benefits were up 0.7 percent.
Global growth is expected to lag this year and next, but for the first time in a long time, it's not all Europe's fault. That's the view of a leading international economic body, which said Tuesday that a slowdown in emerging economies and the potential for another U.S. budget crisis are the main sources of concern for the global economy.
U.S. wholesalers increased their stockpiles in September for the third straight month, an indication that they expect more demand from businesses and consumers.The Labor Department says wholesale stockpiles rose a seasonally adjusted 0.4 percent.
U.S. factories increased production for a third straight month in October, as stronger output of primary metals and furniture offset declines in auto production.Manufacturing output rose 0.3 percent last month, up from 0.1 percent in September, the Federal Reserve reported Friday.
The group unveiled a report from a Mississippi State University professor on Wednesday that says Nissan Motor Co.'s Canton plant has created 16,000 jobs in surrounding areas since it opened in 2003. The report estimates that Nissan contributes $2.5 billion to the state's yearly economic output, which is about $100 billion overall.
The number of people applying for U.S. unemployment benefits slipped 2,000 last week to a seasonally adjusted 339,000, the fifth straight decline that shows businesses see little need to cut jobs. The Labor Department says the less volatile four-week average fell 5,750 to 344,000. The average has dropped 11 percent in the past year.
The Labor Department says productivity increased at a 1.9 percent annual rate in the third quarter, up slightly from a 1.8 percent rate in the previous quarter. The second quarter figure was lower than the 2.3 percent rate previously estimated.
The deficit increased to $41.8 billion, up 8 percent from August, the Commerce Department said Thursday. It was the largest trade gap since May and marked the third straight month that the deficit has risen since hitting a four-year low in June.
Officials in Asia refrained from commenting on the document that anti-secrecy website WikiLeaks published Wednesday. The negotiating document from late August outlines the status of talks on intellectual property protections, one of the most contentious areas of the Trans-Pacific Partnership trade talks.
House and Senate budget negotiators say they're not close to an agreement but plan to keep at it. House Budget Committee Chairman Paul Ryan says "we're trying to find common ground but we're not there yet."
When the auto plant here closed, this prosperous Wisconsin port city on Lake Michigan lost more than just its largest employer. Its sense of vitality seemed to drain away, and city leaders set out to find something that would inject life into the brick-storefront downtown while the economy went through a transition.
In an unusual campaign, ethanol producers, corn growers and its lobbying and public relations firms have criticized and sought to alter the story, which was released to some outlets earlier and is being published online and in newspapers Tuesday.
Chinese leaders are under pressure to replace a growth model based on exports and investment that delivered three decades of rapid expansion but has run out of steam. Reform advocates say Beijing should open an array of state-controlled industries to private competition, but any moves to curb the privileges of politically favored ompanies are likely to face resistance.