US jobless claims drop beating forecasts
Businessam StaffFebruary 12, 2018
The number of Americans filing for unemployment benefits dropped by nine thousand to 221 thousand in the week ended February 3rd, 2018, well below market expectations of 232 thousand. It is the lowest value in three weeks. Claims taking procedures in Puerto Rico and in the Virgin Islands have still not returned to normal. The […]
Why are gun sales falling?
Businessam StaffFebruary 6, 2018
January gun sales slumped in comparison to past years, according to new data from the FBI’s National Instant Criminal Background Check System. The government doesn’t keep an exact count of firearms sold, but the system can be used as a proxy for sales and is considered an indicator for the industry. According to data kept […]
U.S. Fed chair in safe hands as insider, Jerome Powell, gets Senate nod
Bamidele OlawaleJanuary 24, 2018
The U.S. Senate Tuesday confirmed Jerome Powell, lawyer, and multi-millionaire, as the next head of the Federal Reserve, the country’s central bank, succeeding Janet Yellen. His appointment approval has been hailed a move likely to provide continuity in U.S. monetary policy, which oversaw the economy growing for nine years straight. Powell has served on the […]
U.S set to overtake Russia, Saudi Arabia as world leading oil producer.
Shakirat RemilekunJanuary 19, 2018
United States is in a strong position to overtake countries such as Saudi Arabia and Russia as the world’s leading energy producer over the next 12 months, according to the latest monthly report from the International Energy Agency (IEA,) “This year promises to be a record-setting one for the U.S.,”IEA said in its closely-watched report […]
US jobs report beats forecasts as private sector creates more jobs than expected
Businessam StaffJanuary 4, 2018
America’s private sector created many more jobs than expected last month, in the latest sign that the US economy is robust. US companies hired 250,000 new workers in December, according to payroll firm ADP. That’s the biggest monthly increase since March, Economists had only expected an increase of 190,000; this suggests that tomorrow’s non-farm payroll […]
U.S. population grows by one person every 18 seconds, accounts for 4.4% of global total
Businessam StaffDecember 29, 2017
The U.S. Census Bureau projects world population on Jan. 1, 2018, at 7,444,443,881. This represents an increase of 78,521,283, or 1.07 percent, from New Year’s Day 2017. The U.S. is estimated to be about 4.4 percent of the global total at 326,971,407 on Jan. 1, 2018. This represents an increase of 2,314,238, or 0.71 percent, […]
Canada’s economy in Oct. unexpectedly stalls as oil production drops
Businessam StaffDecember 22, 2017
Canada’s economy unexpectedly stalled in October on a decline in oil output, a disappointing kickoff to the final quarter of 2017. Gross domestic product was unchanged from September, Statistics Canada reported Friday in Ottawa, weighed down by a 3.5 percent drop in production by oil sands companies. Economists surveyed by Bloomberg News had forecast a […]
US economy grows 3.2% rate in third quarter
Businessam StaffDecember 21, 2017
The U.S. economy grew at a 3.2 percent annual rate from July through September, slightly slower than previously estimated but still enough to give the country the best back-to-back quarterly growth rates in three years. The Commerce Department says the third quarter growth was revised down slightly from last month’s estimate of 3.3 percent. The […]
US economy to grow by $2.5trn under basic income, study finds
Businessam StaffDecember 18, 2017
If each adult in the United States were handed $1,000 in cash every month, the US economy could grow by $2.5 trillion in the next seven years, a new study has found. The benefit, known as a universal basic income, was found to benefit the economy rather than act as a drain on it. The […]
U.S. household net worth $96.9trn in q3 2017
Businessam StaffDecember 8, 2017
Rising stock and real estate prices drove U.S. household wealth to $96.9 trillion in the third quarter of this year, a report by the Federal Reserve showed on Thursday. That compares to a downwardly revised $95.2 trillion net worth for households in the previous quarter. Household borrowing rose at a 3.7 percent annual rate in […]