Obama: Congress Needs to Focus on Job Creation
Obama pushes Washington lawmakers to focus on job creation during a trip to Baltimore to visit a manufacturer of pumping and digging equipment.
Obama pushes Washington lawmakers to focus on job creation during a trip to Baltimore to visit a manufacturer of pumping and digging equipment.
Americans spent at the fastest pace in five months in February, boosting retail spending 1.1 percent compared with January, despite a rise in Social Security taxes.
A burst of hiring in February pushed stocks higher on Wall Street. The Dow Jones industrial average gained 67.58 points, or 0.5 percent, to 14,397.07, surpassing its previous record close Tuesday and logged a sixth straight increase Friday.
Americans slowed down their spending in September as they took a pause after wrapping up their back-to-school buying, according to monthly reports from major retailers released Thursday.
More Americans sought unemployment aid last week, suggesting hiring remains sluggish. The Labor Department said Thursday that weekly unemployment benefit applications rose 6,000 to a seasonally adjusted 386,000.
Stock futures are rising with a new survey suggesting that economists are a bit more optimistic about housing and employment. The National Association for Business Economists' forecasters expect modest growth for the rest of 2012, with the pace picking up in 2013.
Perhaps the most surprising recent news in the auto industry last week was this little gem. In large part owing to President Obama's negotiation of a free trade agreement with South Korea earlier this year, Toyota will be expanding exports of U.S.-built vehicles to Korea for sale.
With the 2012 election season looming, the retail sector is getting vocally political for the first time. The National Retail Federation has launched "Retail Means Jobs," a year-long, $10 million advocacy campaign designed to push for retail-friendly policies in Washington.
The Republicans are winning this year's budget battle: Discretionary spending will decrease. But this is hardly the time for the GOP to take a victory lap: Next, the GOP will have to lower unemployment and improve the average American's daily life -- two areas where the party has historically come up short.
The U.S. set the forces of globalization in motion, and now more than ever, it's clear we're suffering the consequences: high unemployment, stagnant or declining incomes, and rising costs for goods. Can the policies of the surging Tea Party provide solutions, or will they just make matters worse?
The U.S. services sector is growing strong, providing additional evidence that the U.S. economy is recovering and might not need more stimulus funding. But that's contingent upon oil staying below $120 per barrel.
The U.S. manufacturing sector is a sight for sore eyes: After more than a year of expansion, it's still growing, as American factories continue to churn out the equipment, machines and products that emerging-market nations need to develop their infrastructures.
While unemployment is shrinking, jobs still aren't being created at a pace that will really help the economy. How does that situation affect your situation? Here's some insight -- and advice -- that can help you through until the job market is healthy once again.
If you glanced at just one or two headlines from last week's reports on the U.S. economy, you might have concluded that things haven't changed that much. In fact, digging deeper reveals that business conditions are improving. Even the puzzling payroll report has hopeful indicators.
Many people blame America's high unemployment rate on a mismatch between workers' skills and the fields with open jobs. But jobs are scarce across all sectors. That means effective policies are needed to stimulate demand and rebuild economic output.













