The office’s Current View of the Economy from 2023 to 2025 report estimates that the unemployment rate will rise to 4.4% by the end of 2024.
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Posted inBusiness, Nation / World, News
U.S. economy grew 5.2% in 3rd quarter, more than first estimated
The government’s other main gauge of economic activity – gross domestic income – rose a more moderate 1.5%.
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Posted inBusiness
U.S. employers pull back on hiring in October, add 150,000 jobs in face of higher borrowing rates
Strikes against Detroit’s automakers likely shrank last month’s job growth by at least 30,000.
Posted inBusiness, Nation / World, News
Climate destruction fuels growing sector of the U.S. economy
The overall price tag of global warming has long been the subject of debate. New data from Bloomberg Intelligence has put a number on the cost of burning fossil fuels.
Posted inBusiness, Nation / World
U.S. economy accelerated unexpectedly to 2.4% growth rate despite Fed hikes
Driving the gain was a burst of business investment.
Posted inBusiness, News
U.S. slowed hiring but still added solid 209,000 jobs in June in sign of economy’s resilience
Many industries are still adding jobs to keep up with consumer demand and restore their workforces to pre-pandemic levels.
Posted inBusiness, News
Strong labor market growth is pushing aside recession fears
The U.S. economy added 209,000 jobs in June and unemployment fell to 3.6%.
Posted inBusiness, Nation / World, News, Politics
What it would mean for the global economy if the U.S. defaults on its debt
A default could shatter the $24 trillion market for Treasury debt, cause financial markets to freeze up and ignite an international crisis.
Posted inBusiness, Nation / World, News
A slowdown in U.S. inflation eases some pressure on households
Gas and electricity prices have fallen, but grocery costs continue to be a sore spot.
Posted inNews
Report: Out-of-state recruiting helps BIW drive Maine economy
An analysis from University of Southern Maine’s Center for Business and Economic Research found Bath Iron Works supported more than $1.8 billion in economic output in 2021, thanks in part to the shipyard’s push to draw out-of-state workers, a strategy labor experts say could help solve the problem of Maine’s shrinking workforce.