President Donald Trump speaks during a town hall with business leaders in the South Court Auditorium on the White House complex in Washington, Tuesday, April 4, 2017. (AP Photo/Evan Vucci) WASHINGTON (AP) — With legislation overhauling taxes and health care on an uncertain path, President Donald Trump returned to the familiar. Trump brought 52 business […]
economy
Posted inUncategorized
U.S. adds 235,000 jobs; unemployment dips to 4.7%
WASHINGTON — U.S. employers added a robust 235,000 jobs in February and raised pay at a healthy pace, evidence that the economy remains on solid footing nearly eight years after the Great Recession ended. The unemployment rate dipped to a low 4.7 percent from 4.8 percent, the Labor Department reported Friday. More people began looking […]
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Posted inBusiness, sj-web
U.S. economy grew at 3.5 percent last quarter; fastest rate in 2 years
WASHINGTON — The U.S. economy grew at a 3.5 percent annual rate in the July-September quarter, the fastest pace in two years and more than the government had previously estimated. But the growth spurt isn’t expected to last. The gain in the gross domestic product, the economy’s total output of goods and services, came from […]
Posted inBusiness, Lewiston-Auburn
Despite LePage’s warning on ballot measures, state economy still on track
In the days before voters headed to the polls, Gov. Paul LePage warned that if voters approved a hike in the minimum wage and a new tax surcharge for wealthy Mainers, the state’s economy could get clobbered. With new federal overtime rules also kicking in, he insisted, “We’re going to get absolutely destroyed. It’s a […]
Posted inBusiness, sj-web
Maine unemployment rate holds steady at 3.4 percent
AUGUSTA — Maine’s unemployment rate held steady at 3.4 percent last month. The state Department of Labor says the number of unemployed people declined by 8,000 over the year to 22,800. The unemployment rate was 4.5 percent a year ago. Maine’s unemployment rate was less than the U.S. rate of 5 percent, which also held […]
Posted inLocal & State
LePage asks Legislature when it is going to ‘wake up’ on paper industry woes
AUGUSTA — In a pair of blistering missives to State House leaders Tuesday, Republican Gov. Paul LePage charged lawmakers with doing little to help the state’s sagging pulp and paper industry and asked when the Legislature is going to “wake up.” He also labeled Democratic lawmakers as “job killers” and accused them of misleading the […]
Posted inOp-Eds
Conflicting opinions about recession remain
WASHINGTON — It’s economists versus the stock market. Economists generally don’t forecast a recession anytime soon. The stock market does — or at least that’s one plausible interpretation of its recent roller-coaster behavior. Who’s right? We’ll know in a few months. Meanwhile, the dispute highlights the incomplete nature of the present recovery, which has lasted […]
Posted inBusiness, sj-web
U.S. economy adds 211,000 jobs
Data curated by CareerTrends The Labor Department said Friday that employers added 211,000 jobs, led by big gains in construction and retail. And the government revised up its estimated job growth for September and October by a combined 35,000. The unemployment rate remained a low 5 percent for a second straight month. More Americans began […]
Posted inBusiness, sj-web
Maine households increase spending in 2014
PORTLAND — A federal agency report shows that Maine residents spent 3.5 percent more per person on household expenditures in 2014 than they did in 2013. The Portland Press Herald reports a federal Bureau of Economic Analysis report released Tuesday shows residents spent roughly $1,400 more per person last year on necessities compared to the […]
Posted inLocal & State
In Lewiston, Paul LePage upbraids Legislature, vows to fight status quo
LEWISTON — During an hourlong town hall meeting Tuesday, Maine’s Republican Gov. Paul LePage continued his campaign against the state’s Legislature and its leaders, again promising to push the powers of the executive branch of government to achieve his policy goals. Before a largely friendly audience of about 100 people, LePage spoke at the Green […]