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.
September U.S. manufacturing technology orders totaled $397.57 million according to AMT - The Association For Manufacturing Technology. This total, as reported by companies participating in the USMTO program, was up 5.8 percent from August but down 31.1 percent when compared with the total of $577.17 million reported for September 2012.
Five years after a global financial crisis erupted, the world's biggest economies still need to be propped up.They're growing and hiring a little faster and creating more jobs, but only with extraordinary aid from central banks or government spending.
Pushing his case for how to increase jobs, President Barack Obama headed to the Gulf Coast where he was to use the backdrop of the Port of New Orleans to press for more government spending on infrastructure projects that can have ripple effects on employment.
Consumer spending rose 0.2 percent in September, after at 0.3 percent gain the previous month, the Commerce Department reported Friday. Americans cut spending on long-lasting manufactured goods 1.3 percent. That partly reflected a drop in auto sales. Labor Day weekend auto sales were counted in August.
The Labor Department says the unemployment rate rose to 7.3 percent from 7.2 percent in September, likely because furloughed federal workers were counted as unemployed. The report noted that the shutdown did not affect total jobs.
Deal activity in the industrial manufacturing sector experienced an uptick in the third quarter of 2013, while merger and acquisition (M&A) value for the quarter rose to the highest level since the fourth quarter of 2007. The strength of industrial manufacturing M&A in the past three months was largely driven by strategic investors in advanced economies.
The Labor Department said Thursday that the less volatile four-week average dropped 9,250 to 348,250. The average was elevated by the 16-day partial government shutdown and backlogs in California that occurred because of computer upgrades. Weekly applications have fallen for four straight weeks.
The U.S. economy expanded at a 2.8 percent annual rate from July through September, a surprising sign of strength ahead of the 16-day partial government shutdown. Exports rose, businesses stocked up, home construction increased and state and local governments spent at the fastest pace in four years.
The shutdown will be mostly to blame. But its effect on the data won't be easy to tease out. Economists have all but thrown up their hands trying to forecast Friday's figures or to suggest what they might mean.
As manufacturing workers face an improving job market overall, are they preparing to jump ship? Recent studies of the manufacturing workforce suggest that confidence might actually translate into upheaval in an individual organization, as workers feel more comfortable looking for different opportunities outside of their current companies.
The Southeast Michigan Purchasing Managers Index (PMI) for Oct. is 63.1, up from 59.9 in Sept., raising the three-month average for the economy to a robust 61.1. A PMI value above 50 generally suggests economic growth. Just over 75 percent of respondents report their expectations are for the economy to remain the same or become more stable.
The Conference Board says its index of leading indicators rose 0.7 percent in September to a reading of 97.1. That follows a similar gain in August and marked the fifth increase in six months. The index is designed to signal economic conditions over the next three to six months.
For starters, weak job growth has held down pay. And since the recession struck six years ago, businesses have been relentless in cutting costs. They've also stockpiled cash rather than build new products or lines of business. And they've been earning larger chunks of their profits overseas.
The European Union's economy is expected to grow 0.5 percent over the second half of the year, leaving it flat for the whole year, and expand 1.4 percent in 2014, according to the Commission's fall forecast. Its last predictions, issued in May, had expected an economic decline of 0.1 percent in 2013.
Manufacturing activity in the Southeast climbed in October, pushing the monthly index to 50.4 and narrowing the gap with the National PMI, according to the Southeast’s Purchasing Managers Index (PMI) report released today by Kennesaw State University’s Econometric Center in the Michael J. Coles College of Business.
Among the OECD's euro constituency— 14 of the 17 EU countries that use the euro are members of the OECD — the proportion trusting government fell from 49.1 to 42.8 percent over the same period. In Japan, the situation's even worse, dipping from 27 percent in 2010 to 17 percent last year.