Q3 GDP: U.S. economy picks up
October 26th, 2012
08:57 AM ET
1 year ago

Q3 GDP: U.S. economy picks up

New York (CNNMoney) – U.S. economic growth picked up in the third quarter, boosted by stronger consumer spending, an improving housing sector and increased defense spending.

Gross domestic product, the broadest measure of the nation's economic health, grew at an annual rate of 2% from July to September, the Commerce Department said Friday, faster than the 1.3% in the second quarter.

FULL STORY

Filed under: CNNMoney.com • Economy
Jobless claims snap back up
October 18th, 2012
09:58 AM ET
2 years ago

Jobless claims snap back up

New York (CNNMoney) – First-time claims for unemployment benefits are on a roller coaster. The number snapped back up last week, after falling to a four-year low the week before.

About 388,000 people filed for first-time unemployment benefits in the week ended October 13, up 46,000 from the previous week, the Labor Department said Thursday.

FULL STORY

Filed under: Jobs
White House defends the drop in unemployment
October 16th, 2012
04:18 PM ET
2 years ago

White House defends the drop in unemployment

(CNNMoney) - The Romney-Ryan camp is trying to discredit the falling unemployment rate, claiming it's due mainly to workers dropping out of the labor force. But Obama administration official Gene Sperling shot back Tuesday: "That just ain't so."

Sperling, who heads the White House's National Economic Council, pointed to data from the Bureau of Labor Statistics, which shows the unemployment rate fell to 7.8% last month, down from 9.0% a year earlier. Most of that decline is due to workers getting jobs - not people dropping out of the labor force, Sperling said at the National Association for Business Economics Annual Meeting in New York Tuesday.

Watch CNN's coverage of Tuesday's presidential debate starting at 7 p.m. ET on CNN TV, CNN.com and via CNN's apps for iPhone, iPad and Android. Web users can become video editors with a new clip-and-share feature that allows them to share favorite debate moments on Facebook and Twitter. Click here for 13 reasons to watch the debate only on CNN.

FULL STORY

Filed under: Gene Sperling • unemployment • White House
Economy creates 114,000 jobs in September, unemployment falls below 8%
October 5th, 2012
08:33 AM ET
2 years ago

Economy creates 114,000 jobs in September, unemployment falls below 8%

,

NEW YORK (CNNMoney) - The unemployment rate tumbled in September as more people returned to the labor force and steady hiring continued.

Employers added 114,000 jobs during the month, down from a revised 142,000 jobs in August, the Labor Department said Friday. But revisions to July and August mean the economy added 86,000 more jobs than originally reported in those months.

FULL STORY

Filed under: Economy • Jobs
Obama may be a job creator after all
September 27th, 2012
12:28 PM ET
2 years ago

Obama may be a job creator after all

NEW YORK (CNNMoney) - Republicans may soon lose a key talking point. According to data released Thursday, President Obama may now be a net job creator.

In the year following Obama's inauguration, the U.S. economy lost about 4.3 million jobs. But new figures released Thursday show 4.4 million jobs have been added back since then.

FULL STORY

Filed under: Economy • Jobs • President Obama
GDP report: Economic growth revised lower
September 27th, 2012
10:05 AM ET
2 years ago

GDP report: Economic growth revised lower

New York (CNNMoney) - The U.S. economy grew even slower than initially reported in the second quarter, as both consumers and businesses spent less than originally thought, and the drought in the Midwest limited agricultural production.

Gross domestic product, the broadest measure of the nation's economic health, grew at an annual rate of 1.3% from April to June, the Commerce Department said Thursday, slower than the 1.7% rate the government last reported in August.

FULL STORY

Filed under: Economy
Why the rich vote more
September 24th, 2012
09:13 AM ET
2 years ago

Why the rich vote more

New York (CNNMoney) - It's well established that the richer you are, the more likely you are to vote.

But why aren't the less well-off turning out at the polls?

FULL STORY

Filed under: 2012 • CNNMoney.com • Taxes
Fed announces election year stimulus
September 13th, 2012
12:59 PM ET
2 years ago

Fed announces election year stimulus

(CNNMoney) - The Federal Reserve announced plans to unleash more stimulus Thursday, in its third attempt at a controversial program to rev up the U.S. economy.

The policy, known as quantitative easing and often abbreviated as QE3, entails buying $40 billion in mortgage-backed securities each month. The end date remains up in the air, as the Fed will re-evaluate the strength of the economy in coming months.

FULL STORY

Filed under: 2012 • Ben Bernanke • Federal Reserve
Outlook gloomy for August jobs report
September 5th, 2012
11:41 AM ET
2 years ago

Outlook gloomy for August jobs report

New York (CNNMoney) - The stakes are high and the forecast is gloomy, ahead of the August jobs report scheduled to be released Friday by the Labor Department.

A month ago, that report showed businesses added 163,000 jobs in July. Job gains at that level were the strongest in five months, but still were not robust enough to keep up with population growth. The unemployment rate ticked up to 8.3%.

Unfortunately, August doesn't look like it fared much better.

FULL STORY

Filed under: 2012 • Jobs • unemployment
July jobs report: Hiring picks up, unemployment rises
August 3rd, 2012
08:34 AM ET
2 years ago

July jobs report: Hiring picks up, unemployment rises

New York (CNNMoney) – Businesses stepped up their hiring in July, but the unemployment rate ticked higher.

Employers added 163,000 jobs in the month, the Labor Department reported Friday, way up from June when the economy added 64,000 jobs.

FULL STORY

Filed under: Economy • Jobs • President Obama
« older posts