General Motors announced plans to invest $1.2 billion in new equipment and expansions at five Midwest factories. GM's investment, mostly in three Michigan plants, will retain or add about 1,000 jobs. The expansion plans were announced Monday, the same day a new study was released, compiled by the Center for Automotive Research in Ann Arbor, that estimated the rescue of GM and Chrysler saved 2.6 million jobs in 2009 and 1.5 million in 2010.
As we reported recently, the U.S. economy is continuing to gain steam. Housing, manufacturing, auto sales rates have all been rising. This week has also been a great one for workers: The Labor Department said Friday that employers created 203,000 jobs last month, sending the unemployment rate tumbling by three-tenths of a point to 7 percent — the lowest level since 2008.
Orders for jetliners, machinery and other long-lasting durable goods rebounded last month in a positive sign for the important US manufacturing sector, the Commerce Department said Friday.
If you are happy, your state is likely to recover from the recession more quickly. That's the finding of new research that determines that economic recessions are weaker, expansions are stronger, and recovery is faster in U.S. states where people are more optimistic.
Almost every developed nation in the world was hit by the financial crisis, their economies became paralyzed. And then there's Sweden. The Scandinavian nation has accomplished what the United States, Britain and Japan can only dream of: Growing rapidly, creating jobs and gaining a competitive edge. The banks are lending, the housing market booming. The budget is balanced.
In America these days, if you are watching too much news, you're not getting the truth about the economy as much as political messaging and strategy. The truth is that the U.S. still has the strongest economy on the planet. America's performance should be measured against the current competition, not against the records it set in the 1990s or 2000s.
Friday's non-farm payrolls report overshadowed some relatively good news in other key U.S. employment metrics. Many indicators have been pointing to stronger labor markets than the big figure highlighted Friday (80,000 jobs gained for June). And a few new data points confirm this thinking.
The U.S. Occupational Safety and Health Administration (OSHA) has a long history of being attacked for being bad for business and stifling job creation. But the Harvard Business Review says OSHA workplace inspections protect workers without overburdening employers or reducing their sales.
Just two years ago, Greece was on the ropes. Today, investors are increasingly confident of the nation's ability to pay its debts. Rarely has a country repaired its image with creditors so quickly.
A rise in orders for long-lasting goods like cars and aircraft in July eased fears that the U.S. was headed for another recession and sent US stocks up for a third straight day.
Great news for your wallet: Gas prices dropped this past month and are expected to continue their slide. The drop in crude oil prices today to below $85 a barrel further lubricated the trend downward, echoing last week's plunge below $76 a barrel. Prices at the gas pump, meanwhile, slipped to a national average of $3.58 per gallon
Consumer spending in the US increased in July by the largest margin in five months, after personal incomes climbed 0.3 percent, the Commerce Department said today.
Cuba announced Thursday it is allowing the purchase and sale of real estate for the first time since the early days of the revolution, the most important reform yet in a series of free-market changes ushered in by President Raul Castro. The change follows the legalization in October of the purchase and sale of cars.
Tech job openings rose 82% in Detroit, with companies like Google and Ford hiring engineers in droves. And, college grads in Detroit say they are set on an immediate career path upon graduation.
The World Bank on Wednesday said its private sector arm issued about $165 million in 'women's bonds' in the first such sale by the development lender specifically aimed at raising money for businesses owned or run by women in emerging markets. Bonds tied to social or environmental targets are part of a new trend in social finance and follows a green sale of bonds to help cut greenhouse gases in developing countries.
Ford Motor Co on Thursday stuck to its target of adding 7,000 jobs in the United States over the next two years, saying it sees an economic expansion here and not a double-dip recession. Also, fewer Americans filed new claims for jobless benefits last week than at any time since April, in what could be an encouraging sign for the labor market.
Ford Motor Company is spending more than $773 million on new equipment and capacity expansions across six manufacturing facilities in southeast Michigan. The investments will create 2,350 new hourly jobs.
For most of the last century, the United States dominated global manufacturing. Recently though, the nation has lost many factories to cheaper labor markets overseas. But there are still heroic US manufacturing plants scrappy enough to compete in the face of overseas competition. From compact disks to bowling balls, from sparklers to pianos, and even sneakers, here's a look at 10 companies worth celebrating.
There is a downside to pushing out older workers, in favor of younger ones. Less gray hair in an organization can sharply reduce its innovation potential. It turns out that most innovators are in their late 30's or older.
Chrysler Group LLC reported a net profit of $381 million for the third quarter of 2012 on Monday, up 80 percent from the $212 million profit the company reported for the same period a year ago. The results mean that the United Auto Workers employed in Chrysler's factories will next year likely receive their signing bonus of $1,750
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