U.S. employers added 280,000 jobs last month

June 5th, 2015  // News

The U.S. economy added 280,000 jobs to nonfarm payrolls in May, according to the Labor Department. It was the largest increase since December and exceeded the 225,000-job uptick that economists polled by Reuters had expected. The unemployment rate climbed to 5.5%, suggesting that more people entered the labor force. Read more

Finance executives rein in optimism about their own businesses

June 4th, 2015  // News

Finance executives in business and industry have slightly cooler outlooks about their own companies, expansion plans and revenue projections, but overall optimism remains relatively high. An AICPA survey shows a sharp quarterly drop in domestic optimism and smaller drops in five other indicators. Read more

OECD forecasts slower growth in U.S.

June 3rd, 2015  // News

The Organisation for Economic Co-operation and Development has trimmed its U.S. growth forecast to 2% for 2015, down from 3.1% it predicted in March, after a weak first quarter. The OECD expects gross domestic product to climb 1.9% in its member countries this year and 2.5% next year. Read more

Stagnant consumer spending puts U.S. economic growth in doubt

June 2nd, 2015  // News

Consumer spending in the U.S. stopped growing in April as households put more money into savings and less into buying cars, suggesting that the economic recovery is faltering. Analysts expected spending to edge up 0.2%. Read more

Deteriorating global trade sends U.S. GDP into decline

June 1st, 2015  // News

The U.S. economy contracted 0.7% in the first quarter, the Commerce Department said, reversing an estimate that gross domestic product rose 0.2%. Most of the revision was based on data showing that imports increased more and exports grew less than previously thought. Read more

Pending sales of existing homes surge in U.S.

May 29th, 2015  // News

U.S. buyers signed contracts to acquire previously owned homes last month at the fastest rate in almost nine years, the National Association of Realtors said. The group's index of pending home sales reached a seasonally adjusted 112.4, the fourth monthly gain in a row. Read more

Fed: Retirement savings, pensions lacking among workers

May 28th, 2015  // News

Nearly one-third of U.S. workers have no pension or retirement savings, according to a Federal Reserve survey. Of more than 5,800 respondents, 38% intend to work as long as possible or do not plan to retire. Read more

Economists dial back U.S. Q2 projections

May 26th, 2015  // News

Economists are trimming their second-quarter growth forecasts for the U.S. economy to less than 3% from previous estimates of nearly 4%. They cite less-than-encouraging early data that are unlikely to be clarified much by durable-goods and home sales figures due this week. Read more

Health insurers in some states want to hike premiums

May 22nd, 2015  // News

Health insurance providers are seeking significant increases in premiums in several states in a move they say is necessary to cover the medical costs of individuals who have newly enrolled as part of the Affordable Care Act. However, the Obama administration can require insurers to explain large rate increases, and state insurance regulators may be able to scale back their requests in certain cases. Read more

June is too soon for rate hike, Fed minutes reveal

May 21st, 2015  // News

U.S. Federal Reserve policymakers rejected June as a date to begin raising interest rates, according to minutes from their April meeting. Their feeling was that data by then would provide insufficient justification, although they expected a pickup in the economy after a disappointing first quarter. Read more

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