Retail, Automotive Industries Among the Hardest Hit A total of 33,825 U.S. jobs were cut in August, representing a 19.4% jump from July and a five-percent hike compared to August 2016, according to a recent report by Challenger, Gray & Christmas, Inc.
Report: Default and Government Shutdown Would Be Calamitous for U.S. Economy Standard & Poor’s warned that if the U.S. either defaults or shuts down the government, the consequences will be dire for the American economy, claiming that a default would result in a worse situation than the economic collapse and Great Recession of 2008.
Some Americans Still Being Left Out of the Economy Despite being largely positive across the board, both the mining sector and a concern over labor shortages in the future expose warts in the American economy, according to the ADP National Employment Report.
The American Dream of Owning a House Becomes Harder to Obtain Housing prices continue along a 12-month rise in June, reporting a 5.8% annual gain, up from May’s growth rate of 5.7% and ahead of economists’ speculation.
Longest Outflow Streak from U.S. Equities Since 2004 The growing political turmoil in the country is making investors jittery. With two serious financial crises looming over the economy in the coming weeks—one being the approaching debt ceiling, and the other being the delay in President Donald Trump’s promised tax reforms—investors are already beginning to panic.
House Prices Rise 1.6% in Second Quarter of 2017 Buying a house is increasingly becoming unaffordable for Americans as houses continue to get more expensive across the United States. The Federal Housing Finance Agency (FHFA) has just revealed that the House Price Index (HPI), which tracks average home prices, is increasing across the country.
Secret Service Running Short on Money to Pay Agents The United States Secret Service is facing a funds shortfall as it runs out of money to pay its agents protecting the President and his family.
The Expanding Gig Economy Also Has Its Downsides A retirement-benefits information website, Plan Sponsor, has recently carried out a survey on “gig jobs” to determine the benefits that “gig workers” receive in the “gig economy.”
Report Finds American Renters Are Cost-Burdened The latest research on American renters finds that rent costs are burdening a growing number of Americans who are choosing to rent housing, as opposed to buying.
Violent Crimes Increased in California in 2016, Latest Data Reveals The state of California released the latest crime statistics for 2016, which revealed an increase in violent crimes in the state.