Economic Decline

Connecticut Bleeding Red, Faces Budget Crisis

US state of connecticut flag with transparent dollar banknotes

Connecticut is one of the wealthiest states in the country, but it’s drowning in debt, and the governing Democrats aren’t entirely sure what to do about it. But they’ll need to work fast to pass a budget–either that or face implementing additional spending cuts to education and municipal aid across the state.

U.S. Housing Market Slowdown: Sales of New Houses Drop in July

Home For Sale Real Estate Sign and House

House Sales Slow Down, Inventory Grows in July The latest data on new residential sales in the United States jointly reported by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reveals that economic activity in the U.S. housing market may be slowing down. According to the seasonally-adjusted July 2017 data, (more…)

WPP Shares Crumple on Lowered Guidance

A blank white advertisement board on a motorway

Shares in WPP PLC (NASDAQ:WPPGY) crumped on Wednesday morning, falling by more than 12% as the ad agency reported weaker-than-expected ad buying from consumer goods companies, especially those in North America. The outlook doesn’t look good either, as the company lowered its full-year guidance.

Far Fewer Young People Looking For Summer Jobs

Money

It’s good news/bad news for American young people looking for work this summer. According to the Bureau of Labor Statistics, the unemployment rate among young people aged 16 to 24 fell this summer to its lowest level in nearly 50 years. Unfortunately, the data is skewed by the far smaller number of young people actually (more…)