Economic News

  • Bullock proposes $45 million in oil-patch grants Associated Press - 4 hours ago
    Bullock proposes $45 million in oil-patch grants

    Gov. Steve Bullock proposed a $45 million grant program Thursday to ease strains on water and sewer systems in eastern Montana towns that have struggled to keep pace with the demands of the fast-growing ...

  • Ariz. jobless rate remains at 7.3 percent in March Associated Press - 7 hours ago

    State economists report that Arizona's unemployment rate was flat in March, remaining at 7.3 percent as the economy added 15,600 nonfarm jobs. The Department of Administration says nine of 11 economic ...

  • Budget office: Wage boost would cost firms $15B Associated Press - 9 hours ago

    A Senate Democratic bill gradually increasing the federal minimum wage to $10.10 hourly would require private businesses to spend $15 billion more in salaries when it takes full effect in 2017, the Congressional ...

  • Wisconsin unemployment drops to 5.9 percent Associated Press - 9 hours ago

    Wisconsin's unemployment is down to 5.9 percent, its lowest level since November 2008. The state Department of Workforce Development reported Thursday that the unemployment rate was 5.9 percent in March, ...

  • Kansas unemployment unchanged in March Associated Press - 9 hours ago

    Unemployment held steady in Kansas during March, staying at a seasonally adjusted rate of 4.9 percent in March, the same as in February. The Kansas Department of Labor says Thursday that the rate compares ...

  • CBO: Minimum wage boost would cost firms $15B Associated Press - 9 hours ago

    The Congressional Budget Office estimates that a Senate Democratic proposal gradually boosting the minimum wage to $10.10 hourly would force businesses to spend $15 billion more in salaries in 2017. The ...

  • Italy again pushes back balanced budget goal Associated Press - 11 hours ago
    Italy again pushes back balanced budget goal

    Italy has again pushed back its balanced-budget goal, now aiming for 2016. Finance Minister Pier Carlo Padoan wrote to the European Commission this week, saying that because of Italy's stubborn economic ...

  • Minnesota labor force surpasses 3 million Associated Press - 11 hours ago

    Minnesota's labor force now tops 3 million, while the unemployment rate for March held steady at 4.8 percent. The Department of Employment and Economic Development showcased the 3 million figure Thursday ...

  • NJ unemployment rate inches up to 7.2 percent Associated Press - 11 hours ago

    Preliminary data show New Jersey's unemployment rate inched up to 7.2 in March from 7.1 the previous month as the state lost 1,300 jobs. The report released Thursday by the state Labor Department shows ...

  • Report: Mass. gains more than 8K jobs in March Associated Press - 11 hours ago

    Preliminary estimates show Massachusetts gained more than 8,000 jobs in March while the state's unemployment rate dropped to 6.3 percent from 6.5 percent the previous month, the state office of Labor and ...

  • Kansas officials plan to issue new fiscal forecast Associated Press - 11 hours ago

    Kansas officials are preparing to issue a new fiscal forecast to guide legislators and Gov. Sam Brownback in making budget decisions. Forecasters were meeting Thursday afternoon to revise earlier revenue ...

  • Georgia jobless rate drops to 7 percent Associated Press - 12 hours ago

    State labor officials say Georgia's unemployment rate has dropped to 7 percent, the lowest rate since September 2008. The Georgia Department of Labor announced the new seasonally adjusted jobless rate ...

  • Average US 30-year mortgage rate falls to 4.27 pct Associated Press - 12 hours ago
    Average US 30-year mortgage rate falls to 4.27 pct

    Average U.S. rates on fixed mortgages fell this week for the second straight week as the spring home-buying season begins. Mortgage buyer Freddie Mac said Thursday that the average rate for the 30-year ...

  • Brazil unveils $11 billion in 'legacy' budget Associated Press - 13 hours ago

    Brazilian government officials announced Wednesday that almost $11 billion (24.1 billion Brazilian reals) will be spent on major transportation and environmental projects, which they argue are not related ...

  • China factories face new challenge as growth slows Associated Press - 13 hours ago
    China factories face new challenge as growth slows

    As China's growth inexorably slows, manufacturers such as Linan Meite Cable are discovering that being an efficient low-cost producer is no longer enough to prosper. Factories that had thrived by using ...

  • How states fared on unemployment benefit claims Associated Press - 14 hours ago

    Applications for U.S. unemployment benefits increased slightly last week to a seasonally adjusted 304,000. The four-week average for claims dipped to its lowest level since October 2007, two months before ...

  • Applications for US jobless aid edge up to 304,000 Associated Press - 14 hours ago
    Applications for US jobless aid edge up to 304,000

    The number of people seeking U.S. unemployment benefits last week rose 2,000 to a seasonally adjusted 304,000. Jobless claims continue to be near pre-recession levels despite the slight increase. The Labor ...

  • Applications for US jobless aid up 2K to 304,000 Associated Press - 15 hours ago
    Applications for US jobless aid up 2K to 304,000

    The number of people seeking U.S. unemployment benefits last week rose 2,000 to a seasonally adjusted 304,000. Jobless claims continue to be near pre-recession levels despite the slight increase. The Labor ...

  • Americans seeking weekly unemployment benefits rose to 304,000; still at pre-recession levels Associated Press - 15 hours ago

    Americans seeking weekly unemployment benefits rose to 304,000; still at pre-recession levels.

  • Portugal gets another IMF bailout payment AFP - 16 hours ago
    Portugal gets another IMF bailout payment

    The International Monetary Fund released a bailout payment of 851 million euros ($1.18 billion) to Portugal on Thursday as the debt-riddled country gets close to exiting its three-year IMF-European Union rescue. The IMF executive board approved the payment, which brings the total amount disbursed under the program to 25.7 billion euros. The so-called "troika" of international lenders -- the IMF, the European Commission and the European Central Bank -- opened a 78-billion-euro credit lifeline to Portugal on May 20, 2011 that was to end this May 17. But the IMF said Thursday it had accepted a request to extend the program to June 20 to allow for a 12th and final review of Portugal's progress in implementing economic reforms required by the bailout.

  • Is America giving up?: Wharton professor CNBC - 16 hours ago
    Is America giving up?: Wharton professor

    Fewer Americans are working-or trying to work. Reversing this trend has to be a priority for the next administration, says Wharton Prof. Joao Gomes.

  • Ahead of the Bell: US Unemployment Benefits Associated Press - 17 hours ago
    Ahead of the Bell: US Unemployment Benefits

    The Labor Department reports on the number of people who applied for U.S. unemployment benefits last week. The report will be released at 8:30 a.m. Eastern time Thursday. INCREASE LIKELY: Economists expect ...

  • Portugal says it will return to mainstream bond market AFP - 21 hours ago
    Portugal says it will return to mainstream bond market

    Portugal on Thursday said it plans to make its first pre-announced government bond auction since April 2011, ahead of exiting its bailout programme next month. The national debt management agency IGCP said it would make a regular, long-term bond issue on Wednesday aiming to raise 500-750 million euros ($690-1.0 billion) with a 10-year term. The issue is Lisbon's latest step towards returning to full market financing after it was forced to seek a rescue package from the EU and IMF three years ago. Portugal three years ago entered a 78-billion-euro European Union-International Monetary Fund aid programme, which forced it to enact deep structural reforms to correct public finances and raise efficiency in the economy.

  • Govt workers in decline even before budget AAP - 23 hours ago

    New figures suggest that many already may have cleared their desks faced with the prospect of a coalition government that was swept to power in September on a ticket of cutting spending and slashing public service numbers. The Australian Public Service Commission says there were 163,716 employed in the public service as of December 2013.

  • Detroit still needs $350M from state lawmakers Associated Press - Thu, Apr 17, 2014 8:24 AM AEST
    Detroit still needs $350M from state lawmakers

    Pressure was building Wednesday for Michigan lawmakers to commit $350 million to Detroit pensions, a day after the city reached tentative agreements with pension funds and a retiree group to reduce payouts. ...

  • Obama, Biden announce $600M for job grants Associated Press - Thu, Apr 17, 2014 7:50 AM AEST
    Obama, Biden announce $600M for job grants

    Emphasizing skills training as key to a growing middle class, President Barack Obama on Wednesday announced $600 million in competitive grants to spur creation of targeted training and apprenticeship programs ...

  • Michigan adjusted jobless rate down to 7.5 percent Associated Press - Thu, Apr 17, 2014 5:56 AM AEST

    The state says Michigan's seasonally adjusted unemployment rate has hit its lowest level in six years, falling two-tenths of a percentage point to 7.5 percent. The Michigan Department of Technology, Management ...

  • Obama, Biden to announce $600M for job grants Associated Press - Thu, Apr 17, 2014 5:35 AM AEST
    Obama, Biden to announce $600M for job grants

    Striving to show action on jobs, President Barack Obama and Vice President Joe Biden are trumpeting $600 million in new competitive grants to spur creation of targeted training and apprenticeship programs ...

  • Wash. unemployment rate steady at 6.3 percent Associated Press - Thu, Apr 17, 2014 4:44 AM AEST

    Washington state added an estimated 6,700 jobs in March and the unemployment rate is holding steady at 6.3 percent, according to a report released Wednesday by the state Employment Security Department. ...

  • France targets welfare for big spending cuts Associated Press - Thu, Apr 17, 2014 3:53 AM AEST
    France targets welfare for big spending cuts

    France's new prime minister announced plans Wednesday to cut 21 billion euros ($29 billion) from state pensions, health care and the social safety net as a part of a 50 billion-euro effort to rein in the ...

  • Detroit leaders launch grants for small businesses Associated Press - Thu, Apr 17, 2014 3:16 AM AEST

    Detroit government, development and philanthropic leaders launched a grant program Wednesday intended to help boost small businesses in the city and the two communities it surrounds. Mayor Mike Duggan ...

  • Obama Puts Down $600 Million to Train Up Your Future Employees Entrepreneur - Thu, Apr 17, 2014 2:40 AM AEST
    Obama Puts Down $600 Million to Train Up Your Future Employees

    The president is traveling to a community college in Pennsylvania later today where he will announce new initiatives aiming to bolster the U.S. labor force.

  • Russian economy hit by Ukraine turmoil Associated Press - Thu, Apr 17, 2014 1:27 AM AEST
    Russian economy hit by Ukraine turmoil

    Russia's economy slowed sharply at the start of the year as the crisis in Ukraine spooked investors into pulling money out of the country. But with Russian President Vladimir Putin still enjoying high ...

  • Jobless rate up for 57 Ky. counties in 2013 Associated Press - Thu, Apr 17, 2014 12:49 AM AEST

    Kentucky officials say annual unemployment rates rose last year for 57 of the state's 120 counties but dropped for 51 counties. Meanwhile, the rates for 12 counties stayed the same from 2012 to 2013, and ...

  • Colorado budget finalized, sent to governor Associated Press - Thu, Apr 17, 2014 12:04 AM AEST

    Colorado lawmakers on Tuesday approved a $23 billion budget, sending to the governor a spending plan for next year that pours more money into public education and funds an aerial firefighting fleet. The ...