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Consumers getting more cautious on credit
WASHINGTON — Americans borrowed more in September to buy cars and attend college, but they charged less to their credit cards for a third straight month. The figures suggest that consumers are growing more cautious about taking on high-interest debt in a weak economy. Total consumer borrowing rose by $7.4 billion in September, the Federal […]
Maryland Legal aid office sees workload increase
ANNAPOLIS — They line up before the doors open, needing help in areas they never imagined — cash assistance, unemployment, food stamps. In the lobby of the Maryland Legal Aid office, attorneys scramble to find chairs for an overflow of people seeking a legal hand. They’re people such as David Gaines and Margaret Sullivan. Gaines, […]
U.S. employers add 80,000 jobs in October, unemployment rate dips
WASHINGTON — The American economy added 80,000 jobs in October, and job growth in the two previous months was much stronger than first thought, an encouraging sign as the nation searches for a way out of the jobs crisis. The unemployment rate dropped to 9 percent from 9.1 percent, the first time it has fallen […]
Fewer Americans seek unemployment aid
WASHINGTON — Fewer people applied for unemployment benefits last week, a hopeful sign that the job market might be picking up. The Labor Department said Thursday that weekly applications dropped 9,000 to a seasonally adjusted 397,000, the lowest level in five weeks. It’s only the third time since April that applications have fallen below 400,000. […]
Unemployment falls in 75 percent of U.S. cities
WASHINGTON — Unemployment rates fell in about three-quarters of large U.S. cities in September, a sign that the nation’s modest job gains that month occurred across most of the country. The Labor Department said Wednesday that unemployment rates fell in 280 large metro areas from August to September. They rose in 61 and were unchanged […]
Manufacturing growth slowed slightly in October
WASHINGTON — U.S. manufacturing grew more slowly in October, hampered by weaker demand for exports and slower production at factories. But companies ordered more goods, factories slashed their stockpiles and auto sales rose. Those trends suggest manufacturing activity could rebound in coming months. Tuesday’s data, which also showed a slight uptick in construction spending in […]
Sean Somerville – Remember: Doing nothing is a choice, too
Almost 20 years ago, George Costanza pitched a novel idea for a television show: “Nothing happens!” he gleefully told puzzled NBC executives. You might not want to let this Seinfeld scene inspire your investment strategy. In today’s environment, investors might think they don’t want to make any choices while things — the European crisis, U.S. […]
Claims for unemployment aid dip but remain high
WASHINGTON — The number of Americans seeking unemployment benefits dipped slightly last week, though not by enough to suggest that hiring is picking up. Weekly applications for unemployment benefits declined 2,000 to a seasonally adjusted 402,000, the Labor Department said Thursday. That’s the fourth drop in six weeks. Still, the four-week average, a less volatile […]
U.S. economy grew 2.5 percent in Q3
WASHINGTON — A summer of modest economic growth is helping dispel lingering fears that another recession might be near. Whether the strength can be sustained, though, is far from clear. Buoyed by a resurgent consumer and strong business investment, the economy expanded at an annual rate of 2.5 percent in the July-September quarter, the government […]
Consumer confidence at lowest since recession
NEW YORK — Americans say they feel worse about the economy than they have since the depths of the Great Recession. Consumer confidence fell in October to the lowest since March 2009, a research group said Tuesday — an ominous sign for the economy as families begin to prepare their budgets for holiday shopping season. […]
Unemployment rates fall in half of U.S. states
WASHINGTON — Unemployment rates fell in half of U.S. states last month, a sign that September’s pickup in hiring was felt around the country. The Labor Department said Friday that unemployment rates dropped in 25 states, rose in 14 and stayed the same in 11. That’s an improvement from August, when unemployment rose in 26 […]
Economy shows signs of health after summer slump
WASHINGTON — A gauge of future economic activity edged up at a slower pace in September, signaling only modest economic growth in coming months. The Conference Board reported Thursday that its index of leading economic indicators rose 0.2 percent in September. It was the fifth consecutive gain but was weaker than increases of 0.3 percent […]
