WASHINGTON (AP) — President Barack Obama exhorted Congress on Monday to make passing a long-languishing small business aid package its first order of business when it returns next month from its summer break. “I ask Senate Republicans to drop the blockade,” Obama said in the Rose Garden after meeting with his economic advisers. Acknowledging that […]
economy
Posted inLocal & State, sj-web
Recovery in danger as firms, homebuyers cut back
WASHINGTON (AP) — The economic recovery appears to be stalling as companies cut back last month on their investments in equipment and machines and Americans bought new homes at the weakest pace in decades. Overall orders for big-ticket manufactured goods increased 0.3 percent in July, the Commerce Department said Wednesday. But that was only because […]
advertisement
Posted inBusiness, sj-web
Credit card debt drops to lowest level in 8 years
NEW YORK (AP) — The amount consumers owed on their credit cards dropped to its lowest level in eight years, as cardholders continued to pay off balances in the uncertain economy. The average combined debt for bank-issued credit cards — those with a MasterCard or Visa logo — fell to $4,951 in the second quarter, […]
Posted inBusiness, sj-web
Maine’s average heating oil price down 2 pennies
AUGUSTA, Maine (AP) — Maine’s heating oil prices remain relatively stable this summer, with the price down 2 cents per gallon in a new survey. The Maine energy office said Monday that its weekly price survey found an average price of $2.59 per gallon. Director John Kerry says weak economic figures from the three biggest […]
Posted inBusiness, sj-web
Maine gasoline prices drop
PORTLAND, Maine (AP) — A price-watching group says gas prices in Maine have fallen 3.1 cents per gallon in the past week to $2.74 per gallon. MaineGasPrices.com says that compares with the national average retail price, which has fallen 3.1 cents per gallon in the last week to $2.75. Including the change in gas prices […]
Posted inBusiness, sj-web
Jobs picture dims as unemployment claims rise
WASHINGTON (AP) — The employment picture is looking bleaker as applications for jobless benefits rose last week to the highest level in almost six months. It’s a sign that hiring is weak and employers are still cutting their staffs. First-time claims for jobless benefits edged up by 2,000 to a seasonally adjusted 484,000, the Labor […]
Posted inBusiness, sj-web
Forced to retire, some take Social Security early
MIAMI (AP) — Paul Skidmore’s office is shuttered, his job gone, his 18-month job search fruitless and his unemployment benefits exhausted. So at 63, he plans to file this week for Social Security benefits, three years earlier than planned. “All I want to do is work,” said Skidmore, of Finksburg, Md., who was an insurance […]
Posted inNation / World, sj-web
House members scurry back to pass jobs bill
WASHINGTON (AP) — House members are giving up a couple of days reconnecting with folks in their districts this week to pass a jobs bill that Democrats say is crucial to the nation’s well-being. The unusual in-and-out session was called because the Senate waited until last Thursday, after the House had already recessed for its […]
Posted inBusiness, sj-web
Weak economic data suggest recovery is fizzling
WASHINGTON (AP) — Fears that the economic recovery is fizzling grew Thursday after the government and private sector issued weak reports on a number of fronts. Unemployment claims are up, home sales are plunging without government incentives and manufacturing growth is slowing. Meanwhile, 1.3 million people are without federal jobless benefits now that Congress adjourned […]
Posted inBusiness, sj-web
Report: Completed foreclosures in Maine grew in the first quarter
PORTLAND, Maine (AP) — Data from Maine-chartered banks and credit unions shows another increase in the number of people losing their homes to completed foreclosures. But the first quarter numbers released this week by Bureau of Financial Institutions Superintendent Lloyd LaFountain also contain some good news: The inventory of mortgage loans in foreclosure declined and […]