Apartment rentals in the U.S. have risen in the first three months of the year as more Americans opt to rent instead of buy homes, a report from research company Reis Inc. showed today. Fort the last quarter of 2010, the apartment vacancy rate dropped from 8 percent to 6.2 percent, the lowest since the […]
U.S. exports to China has reached a new record-high of $91.9 billion last year even as the trade deficit between the two countries widened. There has been growing concern about the negative impact on U.S. jobs and competitiveness because of the trade imbalance with China. Yet China is now the fastest-growing recipient of U.S. exports […]
A looming federal government shutdown caused by the deadlock on the budget may affect the release of the latest economic statistics, which in turn can hamper analysis of the impact of surging commodity prices. An estimated 800,000 government workers, including employees of the Commerce and Labor Departments, will be affected by a potential government shutdown. […]
Inflation must be monitored “extremely closely” in the days ahead because commodity costs are not showing signs of stabilizing, Ben S. Bernanke, the chairman of the U.S. Federal Reserve, told an audience in Stone Mountain, Georgia. Bernanke sees commodity prices to eventually go down and its impact on inflation “transitory” but also warns about forecasts […]
Oil drilling by petroleum giant BP in the Gulf of Mexico may resume soon if a request is granted by U.S. authorities. The plan comes barely one year after an oil rig operated by BP exploded and caused a massive oil spill. The incident damaged the safety record of BP which is facing a multitude […]
Renewable energy is one of the key factors that could bring down rising gas prices and create more jobs for Americans, President Barack Obama said in his weekly Internet and radio address. Too much dependence on oil has left the U.S. more vulnerable to oil price fluctuations brought about by outside influences like conflicts in […]
Chapter 11 bankruptcy protection is becoming a real option for clothing retail company American Apparel Inc., the company said today. American Apparel has been losing revenue and had to lay-off workers because of weak demand of clothing as the U.S. economy dipped. It informed the Securities and Exchange Commission through a filing on Thursday that […]
Unemployment benefit claims declined for the second time in three weeks, dropping by 6,000 to 388,000 last week according to the latest Labor Department report. That may signal that U.S. businesses are retaining more workers and looking to hire additional ones as the economy recovers. The current number of applications for unemployment benefits is near […]
The G-20 meeting of finance chiefs in Nanjing, China today will likely focus less on U.S. monetary policy and more on multiple disasters in Japan and the debt situation in European countries. U.S. fiscal policy, specifically its alleged push of the dollar in the market, has been criticized heavily by Chinese authorities, with one Chinese […]
The foreclosure assistance program with a $1 billion budget launched last year by the Obama administration was supposed to help unemployed Americans stay afloat while finding new jobs. “It will give millions of families resigned to financial ruin a chance to rebuild,” Obama said at the time of the program’s launch. “By bringing down the […]
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