Hiring was weighed down by job losses in the manufacturing, retail trade and information sectors.
economy
Posted inBusiness, Nation / World, News
U.S. economy expands at revised 3% rate on resilient consumer
Growth has cooled so far this year after accelerating the second half of 2023.
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Posted inElection 2024, Maine, News, Politics
Poll: Economy weighing heavily on Maine voters ahead of November election
Roughly half of those surveyed by the University of New Hampshire say their household is worse off financially now than a year ago. But there is a clear partisan divide among respondents.
Posted inBusiness, Maine, Nation / World
Takeaways from Fed Chair Powell’s speech on interest rate cuts
Investors now expect the Fed to start cutting rates at its next meeting in September.
Posted inBusiness, Election 2024, Nation / World, News
Inflation is falling, but the next president could bring it back
Both Vice President Kamala Harris and former President Donald Trump are pushing economic ideas that – whatever their merits – could raise prices on many goods and services, some economists said.
Posted inBusiness, Nation / World
Weak U.S. hiring slams global markets, with Dow plunging as unemployment climbs
Friday’s report from the Labor Department showed that employers added 35% fewer jobs in July than forecasters had expected – and that unemployment, now up to 4.3%, is the highest since October 2021.
Posted inBusiness, Nation / World, News
Fed poised to keep rates steady. But rate cuts aren’t far off.
Officials are taking their time because they’ve been thwarted by the economy’s unexpected turns before.
Posted inBusiness, Election 2024, Politics
Harris will carry Biden’s economic record into the election. She hopes to turn it into an asset
Former President Donald Trump is campaigning hard on the higher cost of living, having mentioned inflation 14 times in his speech last week at the Republican National Convention.
Posted inBusiness, Nation / World, News
U.S. economy grew 2.8% in second quarter, a robust unexpected strengthening
Consumer spending, business investments, and new inventory drove the growth.
Posted inBusiness
U.S. economy grew at a healthy 2.8% annual pace last quarter
The Commerce Department said the gross domestic product picked up in the April-June quarter.