Friday, December 27

Tag: economy

The U.S. economy is doing even better than the government thought
29Nov By adminNo Comments
Money

The U.S. economy is doing even better than the government thought

Shrugging off higher interest rates, America's consumers spent enough to help drive the economy to a brisk 5.2% annual pace from July through September, the Bureau of Economic Analysis reported Wednesday in an upgrade from its previous estimate.The government had previously estimated that the economy grew at a 4.9% annual rate last quarter.Wednesday's second estimate of growth for the July-September quarter confirmed that the economy sharply accelerated from its 2.1% rate from April through June. It showed that the U.S. gross domestic product — the total output of goods and services — grew at its fastest quarterly rate in nearly two years. The increase in the third quarter primarily reflected increases in consumer spending and inventory investment.Consu...
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Black Friday shopping budgets grow despite financial pressures
24Nov By adminNo Comments
Money

Black Friday shopping budgets grow despite financial pressures

Despite mounting financial pressures, holiday shoppers say they are planning to shell out more money on Black Friday and Cyber Monday sales this year than last. That's according to a new survey from auditing firm Deloitte that shows consumers plan to spend an average of $567 between Black Friday and Cyber Monday this holiday season, or 13% more than they spent the same time in 2022. Consumers have bumped up their holiday shopping budgets as retailers this year have stepped up sales and deepened discounts to lure in consumers squeezed by inflation and rising credit card rates."Cyber Week is off to a strong start with Thanksgiving driving a record $5.6 billion in online spend as consumers took advantage of strong discounts and continued their shopping plans, virtually," said Vivek Pandya, l...
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American Airlines flight attendants request permission to strike as holiday travel rush nears
21Nov By adminNo Comments
Money

American Airlines flight attendants request permission to strike as holiday travel rush nears

American Airlines flight attendants are asking federal officials for the right to go on strike, possibly before the end of the Christmas and New Year's travel rush, but American said there was "no possibility" of a walkout over the holidays.Leaders of the flight attendants' union say they are frustrated with the lack of progress in negotiations over a new contract for workers who have not seen raises since 2019.The Association of Professional Flight Attendants petitioned the National Mediation Board on Monday to declare the negotiations deadlocked and give the union permission to strike after a 30-day "cooling-off period." Meanwhile, pilots at Southwest opened a "strike center" in Dallas this week. Officials with the Southwest Airlines Pilots Associatio...
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General Motors becomes 1st of Detroit automakers to seal deal with UAW members
16Nov By adminNo Comments
Money

General Motors becomes 1st of Detroit automakers to seal deal with UAW members

Auto industry expert discusses latest GM-UAW tentative agreement Auto industry expert discusses latest GM-UAW tentative agreement 04:19 United Auto Workers union members have voted to approve a new contract with General Motors, making the company the first Detroit automaker to get a ratified deal that could end a contentious and lengthy labor dispute. A vote-tracking spreadsheet on the union's website shows that with all local union offices reporting, the contract passed by just over 3...
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How Bidenomics May Cost Biden the Youth Vote
12Nov By adminNo Comments
World

How Bidenomics May Cost Biden the Youth Vote

Nov. 12, 2023 12:50 pm ETPresident Biden turns 81 on Nov. 20, and polls show that Democrats are increasingly worried about his mental and physical decline. But the incumbent has another age problem: Donald Trump is running on par with him among young voters.Mr. Biden won the youth vote by double digits in 2020, while seniors swung for Mr. Trump. Recent polls, however, show that seniors are now the only age group that favors Mr. Biden in a rematch. It isn’t difficult to explain the reversal. Bidenomics has exacted a massive wealth transfer from young people to seniors.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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