US Economic Growth in Q3 Revised to 2.9%, Higher Than Expected
by Associated Press – 1 day ago
Last quarter's rise in the U.S. gross domestic product — the economy's total output of goods and services — followed two straight quarters of contraction.
Last quarter's rise in the U.S. gross domestic product — the economy's total output of goods and services — followed two straight quarters of contraction.
Last year around this time, I identified a few business news items with implications for 2022. And with 2023 on the horizon, it's time to do it again — and check on a couple of last year's forecasts.
Despite the negative outlook, however, most Americans — particularly those with higher incomes — are still spending.
Mortgage rates are still more than double what they were in early January, mirroring a sharp rise in the yield on the 10-year Treasury note. read more >
Employers posted 10.3 million job vacancies in October, down from 10.7 million in September. read more >
Sales of previously occupied U.S. homes fell in October for the ninth month in a row to the slowest pre-pandemic sales pace in more than 10 years. read more >
The state Division of Workforce Services says Arkansas' seasonally adjusted unemployment rate rose one-tenth of a percentage point, from 3.5% in September to 3.6% in October. read more >
Results from Macy's, Kohl's and Gap on Thursday further underscored the cloudy picture for U.S. retailers heading into the start of the holiday season. read more >
A year ago the average rate was 3.1%. read more >
Strong auto sales may have been supercharged by the arrival of Hurricane Ian in late September, which destroyed up to 70,000 vehicles, according to economists at TD Securities. read more >
What does the next generation need to be successful in the workforce? Is it digital fluency? Or a well-rounded education? Turns out, it's soft skills like resiliency, problem-solving and creativity. read more >
Among fourth graders, 36% were proficient in math compared with 41% in 2019. In Arkansas, the results were even worse. read more >
The number was lower than economists had expected. read more >
Mortgage buyer Freddie Mac reported Thursday that the average on the key 30-year rate rose to 7.08% from 6.95% last week. A year ago the average rate was 2.98%. read more >
Germany ranked second-highest, spending about $7,383 in health care costs per capita. read more >
The Fed's move boosted its key short-term rate to a range of 3.75% to 4%, its highest level in 15 years. It was the central bank's sixth rate hike this year — a streak that has made mortgages and other consumer and business loans increasingly expensive and heightened the risk of a recession. read more >
The rate was 3.09% last year at this time. read more >
Median household income totaled $52,528 in Arkansas in 2021, an increase of 1.3% compared with 2019, according to the U.S. Census Bureau. read more >
The Arkansas unemployment rate rose one-tenth of a percentage point, from 3.4% in August to 3.5% in September, according to the state Division of Workforce Services. read more >
House hunters are still grappling with sharply higher mortgage rates, rising home prices and a tight supply of properties on the market. read more >
Jobless claims for the week ending Oct. 8 rose by 9,000 to 228,000, the Labor Department reported Thursday. read more >
Like many services, veterinary care is labor-intensive; worker pay makes up about half the cost of running a practice. read more >
The greatest uptick was in North Little Rock. read more >
Arkansas workers are interested, but translating interest into organized action is a long road, labor leaders say. read more >
Homebuyers hit the brakes as high-priced properties meet the highest mortgage rates in 14 years. read more >
The trend toward market growth began in 2011. read more >
Pharmacists have been able to distribute the overdose antidote without a prescription since 2017. read more >
A survey conducted in February 2021 on public attitudes to companies' and brands' sustainability behavior showed that nearly 89% of respondents expected companies and brands to do a lot more to reduce their carbon impact. read more >
It's a sign that employers are still urgently seeking workers despite a weakening economy and high inflation. read more >
Handymen, landscapers and more are seeing business dwindle as homeowners cut spending. read more >
Seasonal losses in government educational services more than offset gains in other sectors. read more >
Since the early 1970s, the number of U.S. farms has continued to decline, but much more slowly. read more >
Last week the 30-year rate fell below 5% for the first time in four months. read more >
