The latest victims of the government's partial shutdown: policy wonks, politicians and TV talking heads who are losing their monthly opportunity to dissect the jobs report issued by the Bureau of Labor Statistics.The ritual unfolds every month: The jobs report comes out, and Wall Street panics or exults.
President Barack Obama laid the blame for the government's partial shutdown at the feet of House Speaker John Boehner on Thursday, escalating a confrontation that is running the risk of a potentially damaging clash over the nation's borrowing authority.
While the U.S. economic outlook has become murkier because of the partial shutdown of the government, the picture in Europe — so long the laggard of the global economy — has brightened. Another round of economic data Thursday provided evidence that the Europe's recovery from recession is becoming broad-based and self-sustaining.
The Southeast Michigan Purchasing Managers Index (PMI) for September is 59.9, reflecting a slight dip from 60.2 in August, but still providing strong evidence of an expanding economy with a three month average of 57.7. A PMI value above 50 generally suggests economic growth.
The number of Americans seeking unemployment benefits rose just 1,000 last week to a seasonally adjusted 308,000, hovering near six-year lows. The tiny increase suggests companies are still cutting very few jobs.The Labor Department says the less volatile four-week average for applications fell to 305,000.
The roiling debate over the U.S. government shutdown is extending to Twitter, Facebook and Instagram as fed-up Americans turn to social media to register their disgust with federal lawmakers for shutting down the government.Those posting pulled no punches, calling members of Congress "immature," ''stupid" and "idiots" who need to "grow up."
A bid by Archer Daniels Midland Company for $20 million in state tax breaks as it decides whether to keep its global headquarters in Illinois drew criticism Tuesday from some state lawmakers, one of whom likened the agribusiness' strategy to blackmail.
A survey shows U.S. businesses added 166,000 jobs last month, a sign of only modest improvement in hiring. Payroll company ADP said Wednesday that employers added just 159,000 jobs in August and 161,000 in July, both slightly lower than the previous estimates.
As the government's partial shutdown enters a second day, most companies across the country are doing business as usual. Yet concern is rising that a prolonged shutdown would cause some work at private companies to dry up and consumers to lose faith in the U.S. economy.
The Institute for Supply Management, a trade group of purchasing managers, said Tuesday that its manufacturing index rose in September to 56.2, the highest since April 2011. That's up from 55.7 in August and the fourth straight increase in the index. A reading above 50 indicates growth.
Though Eurostat, the EU's statistics office, said the unemployment rate across the 17-member eurozone held steady at 12 percent in August, it found the number of people out of work fell for the third month running. That's the first time the region has enjoyed such a run since April 2011.
Congress plunged the nation into a partial government shutdown Tuesday as a long-running dispute over President Barack Obama's health care law stalled a temporary funding bill, forcing about 800,000 federal workers off the job and suspending most non-essential federal programs and services.
The project, one of India's biggest foreign investments, has been mired for eight years by legal hurdles and sustained protests. As India's economy has slowed, however, some legal hurdles have been cleared in recent months, allowing the company to obtain a license to explore for iron ore.
On the brink of a government shutdown, the Senate voted 54-46 on Monday to strip a one-year delay in President Barack Obama's health care law from the bill that would keep the government operating. The Senate also stripped a provision that would have eliminated the tax on medical devices.
Republican unity showed unmistakable signs of fraying Monday as Democrats and the White House vowed to reject tea party-driven demands to delay the nation's health care overhaul as the price for averting a partial government shutdown at midnight.
As France battles high unemployment, rising taxes and pinched pocketbooks, the Socialist government has said its main focus is job creation. Now, critics of a more-than-century-old law that prevents most stores from opening on Sundays say revising it would be a good step in that direction.
General Electric (GE), in addition to being one of the world’s largest corporations, is also considered to be one of its last true conglomerates. What started out from humble beginnings in Thomas Edison’s work shop in New Jersey has grown into a multinational behemoth. While most famous for its light bulbs that bring “good things to light,” many people don’t realize that for much of the last decade, GE was basically a bank.
But the Senate won't be riding to the rescue, at least not immediately. When it convenes at midday, the Democratic-led chamber is expected to reject the latest effort from House Republicans to use a normally routine measure to attack "Obamacare."
Operations formally kicked off Sunday at a new free trade zone in Shanghai that China's government has billed as a major step for financial reforms and economic experimentation, but significant changes look to be years away.
The governor's office says IMCP is a federal program designed to help bring manufacturing jobs back to cities. In Maine, the grant will be used to advance the manufacturing of biomass heating appliances in the northern part of the state with the aim of creating new jobs.
U.S. consumers increased their spending slightly last month as their income grew at the fastest pace in six months. The figures point to only modest economic growth in the July-September quarter.Consumers' spending on goods and services rose 0.3 percent in August, the Commerce Department said Friday.
The federal fingerprint in efforts to fix Detroit is growing larger as the Obama administration has found millions of dollars in grant money to help the bankrupt city hire more police and firefighters, and clear out blighted neighborhoods.
This year's study, based on respondents in the United States, China, India, Germany and Brazil, highlighted some of the characteristics of a more complex global marketplace. It found that while fundamentals such as quality, safety and innovation remain the most important factors driving behavior for manufacturers and consumers, a number of priorities such as transparency, health impact and outsourcing/country of origin are on the rise.
The U.S. economy grew at a 2.5 percent annual rate from April through June, an improvement from the first three months of the year. But economists are worried that growth may now be slowing.The Commerce Department says its final look at economic growth in the spring was unchanged from a prior estimate made last month.
The number of Americans seeking unemployment benefits fell 5,000 last week to a seasonally adjusted 305,000, the second-lowest level in six years. Steady declines in applications show that very few companies are laying off workers.