Economists say it will take a while to fully estimate the economic impact of the storm. But they believe the impact will be enough to lower the nation's gross domestic product, the broadest reading of the nation's economic activity, in the fourth quarter.
New York, whose economy is the world's 15th largest, has the least business friendly tax policies of any state, according to a report released today by the conservative Tax Foundation. The Empire State took the dubious distinction from New Jersey, which had it for three years in a row.
Fresh data shows the nation's labor market is continuing to improve modestly. The number of people filing new claims for unemployment fell to a seasonally adjusted 432,000 for the week ending Dec. 26, the Labor Department reports, down 22,000 from the previous week's 454,000.