October 28, 2013 |
Fed Chairman Ben S. Bernanke could not have been more precise about the projected cutbacks in the monthly $85-billion bond-buying program. He said in December that the Fed would continue the program until the national unemployment rate fell to 6.5%. And the person nominated to succeed him, Janet Yellen, who is widely viewed as an inflation dove, isn't likely to raise that target. That announcement was a historic shift not only in Fed policy (which had heretofore set inflation triggers but not unemployment triggers)
October 27, 2013 |
SACRAMENTO - Gov. Jerry Brown is famous for being unpredictable. Lawmakers and lobbyists at the Capitol say they're never quite sure whether he'll sign or veto a bill. Brown also has a penchant for showing up at their offices along with his dog Sutter, and for keeping his own counsel about appearing at one of the dozens of events he gets invited to each week. Journalists were surprised when the governor visited Bell Gardens on Tuesday to celebrate construction of a luxury hotel at the Bicycle Casino card room, off the 710 Freeway at Florence Avenue . Brown hailed the $45-million-plus investment, saying it would create "hundreds of construction and permanent hospitality jobs.
October 22, 2013 |
WASHINGTON - The job market weakened in September amid a slowdown in key growth engines such as healthcare and leisure - a worrisome sign given that the employment picture probably worsened this month with the partial federal government shutdown. Employers last month added a modest 148,000 net new jobs, the Labor Department said Tuesday. That was down from an upwardly revised job growth of 193,000 in August, and well below analysts' forecasts for about 180,000 new jobs in September.
October 22, 2013 |
WASHINGTON -- The nation's unemployment rate dropped to a five-year low of 7.2% in September, the government reported Tuesday, but employers continued to show reluctance in hiring as they added a moderate 148,000 jobs over the month. The Labor Department report, delayed 2 1/2 weeks because of the partial federal government shutdown, reflected an economy growing at a lackluster rate. The latest job gains matched the pace since the start of summer but came in below Wall Street's forecast for an increase of about 175,000 jobs.
September 30, 2013 |
WASHINGTON -- The latest report on job creation and the unemployment rate, set to be released Friday, could be delayed if the federal government shuts down this week, the Labor Department said. "All survey and other program operations will cease and the public website will not be updated," Erica L. Groshen, commissioner of the Bureau of Labor Statistics, said in a Sept. 10 memo that is part of the department's contingency plan for a shutdown. But Groshen said timing is important in determining whether economic data would be released during a shutdown, which would begin Tuesday if Congress and the White House cannot strike a last-minute spending deal.
September 26, 2013 |
WASHINGTON -- The Federal Reserve has taken unprecedented steps to stimulate the economy, but a new poll finds that only about a third of Americans have confidence in the central bank's ability to boost growth. The findings in a New York Times/CBS News poll cast doubt on the effectiveness of the Fed's expanded public outreach under Chairman Ben S. Bernanke. The Fed chief has begun holding the central bank's first regularly scheduled news conferences. He also has participated in town hall meetings and televised interviews to explain its actions to tackle the financial crisis and the Great Recession.