Latest Economic News & Information

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Current Economic News

Obama: Greece, facing bad days, has US as ally (AP)
President Barack Obama stood with Greek Prime Minister George Papandreou on Tuesday and pledged that the United States would work with its ally, even as Greece’s enormous debts sparked frenzied trading.

EU urges US to join in action against speculators (AP)
European officials urged the U.S. to join in a crackdown on speculators who bet against Europe’s currency union, warning they might ban some credit default swaps — opaque financial instruments blamed for worsening the world financial crisis.

SEC chief economist leaving (AP)
The chief economist of the Securities and Exchange Commission, who is an expert on the financial instruments that figured largely in the 2008 crisis, is leaving his position for the private sector.

Research and Markets: Australia - Pay TV - Regulatory - Access Overview, Anal…
DUBLIN—-Research and Markets has announced the addition of the “Australia - Pay TV - Regulatory - Access Overview, Analysis and Disputes” report to their offering.

Job openings up sharply in January to 2.7M (AP)
Job openings rose sharply earlier this year, evidence that employers are slowly ramping up hiring as the economy improves.

Analysis: Greece’s crisis could presage America’s (AP)
Greece is a financial basket case, begging for international help. Is America heading down that same road? Many of the same risky financial practices that now imperil the Greeks were at the center of the all-too-recent U.S. meltdown.

Gas price rises seen gentler on consumer wallets (AP)
As the economy recovers, energy prices are rising and that is placing extra strain on families’ budgets. Each spring brings a familiar ritual in gasoline markets — rising prices — and this year won’t be an exception.

Governor candidate wants to open Mich. state bank (AP)
Lansing Mayor Virg Bernero on Tuesday proposed having Michigan follow the lead of North Dakota and open a state-owned bank that could make low-interest loans to businesses and college students.

Treasurys inch up amid strong demand for 3-year notes (CNNMoney.com)
Treasurys inched slightly higher Tuesday, in the midst of the government’s $40 billion auction of 3-year notes — the first of several multibillion-dollar note and bond offerings in the coming days.

Stock investors ask: What’s the next big thing? (AP)
A year after the stock market began its comeback from 12-year lows, investors are looking for the next big thing. Stocks have lost some of the momentum that propelled the Dow Jones industrial average up 4,017 points, or 61.4 percent, from its close of 6,547 on March 9, 2009.

Kan. mulling new soda tax, raising other levies (AP)
Kansas would impose a new tax on soda — a penny for every teaspoon of sugar — under a proposal that a key legislator outlined Tuesday while lawmakers considered raising taxes to erase a projected budget shortfall.

Jobless aid measure clears Senate hurdle (AP)
Legislation to give additional months of unemployment benefits to people who have been out of a job for more than half a year cleared a key hurdle Tuesday that guarantees it will soon pass the Senate.

Michigan’s Jan. jobless rate dips to 14.3 percent (AP)
Michigan’s unemployment rate hasn’t changed much since the middle of last year, state officials said Tuesday. The state’s seasonally adjusted January jobless rate was 14.3 percent, down from a revised 14.5 percent in December.

Certain DWS Closed-End Funds Declare Monthly and Quarterly Distributions (Bus…
NEW YORK—-The DWS closed-end funds listed below announced today regular monthly and quarterly distributions.

LifeLock will pay $12M to settle false claims case (AP)
LifeLock Inc. — an identity theft protection company that backed its guarantees by putting its CEO’s social security number on the side of its trucks — will pay $12 million to settle claims it misrepresented its services, according to the Federal Trade Commission.

Fitch Affirms Skagit County Public Hospital District’s (WA) $10.25MM LTGOs at…
NEW YORK—-Fitch Ratings takes the following rating actions on Skagit County Public Hospital District, Washington as part of its continuous surveillance effort:

Maine panel nixes cell phone warnings proposal (AP)
A legislative committee rejected a proposal Tuesday that would require health warnings on cellular phones in Maine, meaning the proposal is all but doomed for this year.

Florida revenue projections mostly on target (AP)
Cash-strapped Florida lawmakers aren’t getting any help from a new general revenue estimate issued Tuesday, but the figures aren’t causing them any grief, either.

LifeLock settles with FTC for $12 million (CNNMoney.com)
Federal regulators said Tuesday that LifeLock has agreed to pay $12 million to settle charges the company made deceptive claims about its ability to protect customers from identity theft.

Economic Optimism Falls To 1-Year Low As Jobs Lag Growth (Investor’s Business…
Consumer sentiment fell in March to a year low on job worries and uncertainty about the future, according to the IBD/TIPP Economic Optimism Index out Tuesday. The gauge dropped 1.4 points from February to 45.4, the lowest since March 2009 and just 1 point above the level in December 2007, when the

Additional Information On Economic News Sources

Unless a major employer decides to close the local factory where they work, economic news is best regarded by most consumers as boring, confusing, and irrelevant However, economic news that may seem immaterial or inconsequential may be a lot more valuable than individuals and communities might think. 

Economic news is generally reported by the media like CNN, Reuters, Forbes, the Wall Street Journal, and the Economist, but really comes from the monthly information generated by the Bureau of Labor Statistics, the Department of Commerce, the United States Congress and the Dow Jones Index.  This information is then applied to current situations like company mergers or foreign trade agreements and used to report news stories that can be understood by consumers, who need the information in order to invest, relocate, look for a job, manage a municipality, or just sound smart around the water cooler.
For investors, the benefit of news from the Dow Jones Index is obvious, but watching figures from the government like the Unemployment Rate is important as well.  While the Dow Jones is a leading economic indicator because it rises or falls before the economy, the Unemployment Rate is a lagged indicator and reflects the status of the economy months behind or ahead.  So, if the Dow Jones indicator is rising, the GDP is steady, and unemployment is high, it is a good time to invest.  This is because stock prices are lower and spending will be rising as people become re-employed.

Economic news also helps with the job market.  Job seekers who are mobile can look to the news to help them figure out which part of the country has the lowest unemployment and the highest standard of living.  If it is time to move, relocating to a more prosperous area of the country may be the best way to get started again.  As well, news of widespread inflation, high unemployment, and job outsourcing in your field may mean sticking out a current job situation and cutting back on consumer spending until the economy improves.
Home owners benefit from economic news as well.  Remember, the government sets the primary interest rate and adjusts it to offset inflation.  Home mortgages are tied into this rate which means that monthly payments will fluctuate accordingly.  As well, the government regulates the banks when it comes to the prime and sub-prime lending rates for homes.  Changes in policy can mean the difference between saving a home or foreclosure.  Economic news can also predict the future value of homes based on expected economic development and growth in an area.  Buying a home at a lower price during a recession is profitable when economic indicators predict the value will rise as the local economy recovers.

Economic news is also important for people who are planning to retire.  Financial planning segments will give out pointers like when to put savings into money market accounts, how to talk to a financial advisor, and where to retire.  Following advice like selling a larger home and buying a condominium may be a wise choice, especially if a new home is in an area that enjoys a higher quality of life and longer life expectancy through economic development.

City planners will notice on the news that other communities go through similar economic challenges as their own area.  Following these kinds of stories can provide insight as to how another area revived its economy by attracting new business through tax breaks or by lobbying their local or state government for a new highway to bring traffic to the town.  Any way you look at it, economic news is important to everyone and helps consumers make intelligent and money-wise decisions.

Posted in Economic Growth & Development