Category: Economy

U.S. Economy Adds Just 88,000 Jobs in March; Unemployment Rate Falls to 7.6%

U.S. Economy Adds Just 88,000 Jobs in March; Unemployment Rate Falls to 7.6%

Roughly one year ago, many of us were encouraged by a string of positive jobs reports which showed the economy was adding on average 275,000 jobs per month. And then came the spring swoon,...

Can Housing Power the Economic Recovery?

Can Housing Power the Economic Recovery?

Economic recoveries usually begin at home. Even though the housing construction has historically only accounted for roughly 5% of America’s economic activity, that number tends to rise following recessions, placing a disproportionate burden on...

Gas Prices Almost Never Decline in March—But They Did Last Month

Gas Prices Almost Never Decline in March—But They Did Last Month

Traditionally, gas prices have risen in the spring and peaked during the high-demand summer months. Last year, though, prices spiked starting in February and reached their highs in early May, before declining slightly in...

Why Your Kid Can’t Get a Job

Why Your Kid Can’t Get a Job

According to the US Bureau of Labor Statistics, one out of every two Millennials—age 18 to 32–is either unemployed or under-employed. Numbering approximately 80 million people (there are actually more Millennials than Baby Boomers),...

U.S. Rate on 30-year Mortgage Ticks Up to 3.57%

U.S. Rate on 30-year Mortgage Ticks Up to 3.57%

Average U.S. rates on fixed mortgages edged up this week but remained near historic lows. Low rates have helped drive the housing market’s steady recovery. Mortgage buyer Freddie Mac said Thursday that the average...

Why Banks Love Debit Cards Again

Why Banks Love Debit Cards Again

Debit cards were supposed to be toast. The industry started writing their obituary when financial reform targeted overdraft fees and interchange or “swipe” fees, which had made debit cards extremely lucrative for banks. So...

Could It Be? Gas Prices Are Around 25¢ Cheaper Than Last Year

Could It Be? Gas Prices Are Around 25¢ Cheaper Than Last Year

The current national average per gallon of gas, $3.65, probably doesn’t seem all that cheap. Not compared to the beginning of the year, when prices were 10% cheaper. And especially not compared to a...

The $600 Billion the IRS Can’t Collect

The $600 Billion the IRS Can’t Collect

Although you wouldn’t know it by the weather, April is fast approaching. And that means in the coming weeks, millions of Americans will be breaking out their W-2s and their favorite tax software to...

Marx’s Revenge: How Class Struggle Is Shaping the World

Marx’s Revenge: How Class Struggle Is Shaping the World

Karl Marx was supposed to be dead and buried. With the collapse of the Soviet Union and China’s Great Leap Forward into capitalism, communism faded into the quaint backdrop of James Bond movies or...

Can the U.S. Dollar Become Almighty Once Again?

Can the U.S. Dollar Become Almighty Once Again?

Financial turmoil in Cyprus, where the parliament rejected a plan an eurozone bailout deal that would have taxed bank deposits, is prompting investors to shift cash from the euro zone to the U.S. That’s boosting...