April 14, 2014 |
Americans rushed out to shop as frigid weather lifted in March, propelling retail sales at the fastest pace in a year and a half. The gauge from the Commerce Department surged 1.1% last month from February in its biggest leap since September 2012. Sales boomed 3.8% from March 2013. The strong sales, which beat economists' expectations for a 1% increase, bolstered hopes that the economy would continue to gain momentum after struggling through an especially harsh winter. "One month doesn't answer all the questions, and it's not like we have all-over-the-place exploding growth," said NPD Group analyst Marshal Cohen.
April 9, 2014 |
That extra slice of bacon is going to cost more than just your cholesterol. Prices for the crispy treat rose 13% in February from a year earlier to $5.46 a pound, according to the U.S. Bureau of Labor Statistics , which looked at average prices in cities nationwide. Overall retail pork prices grew 7% in February from a year earlier to $3.73 a pound, according to the U.S. Department of Agriculture's Economic Research Service . The rising costs could be linked to a rare disease called porcine epidemic diarrhea, which is killing millions of pre-weaned piglets across the country.
March 7, 2014 |
WASHINGTON -- The weather was unusually bad in much of the country last month, so why was Friday's government jobs report surprisingly good? The economy added 175,000 net new jobs in February, up from a revised 129,000 the previous month. The figure exceeded analyst expectations of about 150,000 jobs, and some were predicting a much lower number because of the bitter cold and snow. Labor Department data show the weather cost workers significant hours on the job. PHOTOS: Federal Reserve chairs through the years But partly because of the way the government crunches the numbers, the weather didn't appear to have cost the economy jobs in any major way. "Anecdotally, just walking around the streets in the Midwest and the Northeast, you would think that economic activity had slowed and that includes hiring by businesses, but we're not really seeing it in the numbers," said Chris Rupkey, chief financial economist at the Bank of Tokyo-Mitsubishi in New York.
February 27, 2014 |
A new report by the Milken Institute could provide fresh ammunition to proponents of an expanded state film and TV tax credit. Set to be released Thursday, the study entitled "A Hollywood Exit: What California Must Do to Remain Competitive in Entertainment -- and Keep Jobs," paints a bleak picture of the jobs California has lost to New York and other rivals due to the proliferation of film tax credits and rebates. Among the key findings: California lost 16,137 film and TV industry jobs between 2004 and 2012, an 11% decline, according to figures from U.S. Labor Department's Bureau of Labor Statistics.
February 17, 2014 |
Union leaders were still reeling three days after their devastating defeat at a Tennessee Volkswagen plant, but the leader of the AFL-CIO said labor would keep trying to organize workers in the South - even if it's an uphill battle. "We are committed to helping those workers in the South raise their wages, get better working conditions and get a stronger voice on the job in making decisions that affect their livelihood," Richard Trumka told reporters Monday. Trumka was in Houston to talk about the year ahead with the executive council of his coalition, which represents 56 unions and 12.5 million workers.
February 2, 2014 |
The bitterly cold winter weather has helped to chill sales for teen apparel companies, especially one with a focus on summer and surf clothes and that California lifestyle. For Pacific Sunwear of California Inc., the freezing temperatures that stretched across the country and deep into the South is putting the icing on a difficult fiscal fourth quarter, which ended Feb. 1. PacSun, as it is more familiarly known, sells branded and proprietary casual apparel, accessories and footwear for teens and young adults.