Feb. 1 at 10:31 a.m.
Filed under:
Economy,
Manufacturing
By Reuters
The threat that rising input prices pose to corporate profit margins was highlighted again as a number of U.S. manufacturers, including Emerson Electric Co and Paccar Inc, reported quarterly earnings.
Earlier this week, Illinois Tool Works, which makes a variety of products for the automotive, residential construction, and industrial marketplace, warned it might not be able to fully recoup all the raw material price increases it is seeing — even though it expects to raise prices this year. Get the full story »
Jan. 31 at 4:11 p.m.
Filed under:
Economy,
International
By Reuters
Gold fell on Monday, notching its first monthly decline in six months, as strong U.S. factory and spending data coupled with fading worries about the euro zone debt crisis put a damper on the metal’s rally. Get the full story »
Jan. 31 at 11:39 a.m.
Filed under:
Economy,
Policy
By Reuters
A measure of factory activity in the U.S. Midwest rose to a 22-1/2 year high in January on strong orders and employment prospects, bolstering hopes the economy would stay on a solid growth path this year. Get the full story »
Jan. 31 at 7:44 a.m.
Filed under:
Consumer news,
Economy
By Reuters
U.S. consumer spending rose more than expected in December to post the sixth straight month of gains as households drew down on their savings to fund purchases, government data showed Monday.
The Commerce Department said spending increased 0.7 percent after rising by 0.3 percent in November. Get the full story »
Jan. 31 at 7:30 a.m.
Filed under:
Economy,
Jobs/employment
By CNN
There are two problems with the jobs recovery: Employers haven’t added enough jobs. And those they have added aren’t particularly good ones.
The former problem has gotten a lot of attention, with many economists and politicians talking about job growth averaging less than 100,000 a month last year, not enough to keep up with population growth or make a significant dent in unemployment.
But experts say the low-wage jobs that have been added are also a serious problem — putting downward pressure on wages and keeping consumer spending in check. Get the full story »
Jan. 28 at 4:16 p.m.
Filed under:
Economy,
Policy,
Politics,
Retirement
By Clout Street
Mayor Richard Daley’s administration unveiled a plan Friday for police and fire pension reform that would increase employee contributions as part of a package it hopes would save Chicago property taxpayers $240 million per year compared to a bill Gov. Pat Quinn signed into law earlier this month.
Jan. 28 at 8:43 a.m.
Filed under:
Economy,
Food,
Restaurants
By Mary Ellen Podmolik
Spending at restaurants grew 2.1 percent, but the cash register may slow down this year, according to a new survey.
Almost one in four restaurant-goers say they plan to spend less at restaurants this year than they did in 2010, a year in which restaurant-industry spending grew to $403.5 billion, according to Mintel, a Chicago-based consumer research company. Get the full story »
Jan. 28 at 7:37 a.m.
Filed under:
Economy
By Reuters
The U.S. economy gathered speed in the fourth quarter, though a touch below expectations, with the biggest gain in consumer spending in more than four years and strong exports offering the clearest signals yet that a sustainable recovery is under way. Get the full story »
Jan. 27 at 9:41 a.m.
Filed under:
Economy,
Government
By Kathy Bergen
Illinois’ fiscal woes have translated into another dubious distinction for the state: A newly released analysis by Moody’s Investors Service ranks Illinois among the five states with the highest debt and pension funding needs.
Connecticut has the greatest funding needs, followed by Hawaii, Massachusetts, Mississippi and Illinois, Moody’s found.
Moody’s looked at each state’s combined pension and long-term debt as a percentage of personal income, gross domestic product and state revenue, and calculated its debt per capita. Illinois’ combined pension and debt burden translates to $6,692 per person, fifth highest in the country. Get the full story »
Jan. 27 at 9:17 a.m.
Filed under:
Economy,
Housing,
Real estate
By Associated Press
The number of Americans who signed contracts to buy homes rose in December, marking the fifth increase in six months.
The National Association of Realtors says its index of sales agreements for previously occupied homes rose 2 percent last month. The index posted a 3.1 percent increase in November. Get the full story »
Jan. 27 at 7:52 a.m.
Filed under:
Economy,
Manufacturing
By Alejandra Cancino
The Chicago Fed Midwest Manufacturing Index increased 0.3 percent in December to 81.5, according to data released Thursday by the Federal Reserve Bank of Chicago. Get the full story »
Jan. 26 at 11:17 a.m.
Filed under:
Economy,
Housing,
Real estate
By CNN
New home sales climbed 17.5 percent in December to the highest level in eight months, the government reported Wednesday.
Sales of newly built single-family homes rose to an annual rate of 329,000 units last month, from a revised 280,000 units the month before, the Commerce Department said. That was the highest level since April but still down 7.6 percent from 2009. Get the full story »
Jan. 26 at 6:08 a.m.
Filed under:
Economy,
Government
By Reuters
Business leaders in Davos gave a mixed reaction on Wednesday to the austerity steps proposed by U.S. President Barack Obama in his State of the Union speech, with some questioning whether they go far enough.
In a speech on Tuesday outlining a more bipartisan political agenda, Obama offered corporate tax cuts and a five-year partial federal spending freeze that he said would cut $400 billion from budget deficits over a decade. Get the full story »
By Dow Jones Newswires
The Financial Crisis Inquiry Commission has concluded that the 2008 financial crisis in the U.S. was caused by a combination of corporate errors, regulatory failure and excessive risk-taking by Wall Street firms, the New York Times reported online Tuesday. Get the full story »
Jan. 25 at 2:19 p.m.
Filed under:
Economy,
Jobs/employment,
Labor
By Alejandra Cancino
More than a quarter of Illinois teenagers looking for jobs last year could not find one, according to preliminary data by the Employment Policies Institute, a think-tank that focuses on entry-level employment issues.
Illinois’ rate climbed to a record high of 27.6 percent, up from 25.8 percent in 2009 and well above the national average of 25.9 percent. Get the full story »
