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The Trade War Has Taken A Bite Out Of China’s Economy — But It’s Complicated
By: Jolie Myers | Ailsa Chang | Sam Gringlas | Mallory Yu | NPR
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China’s economic growth has been slowing down for years. Tariffs have contributed to slower growth since early 2018, when the economic standoff began, but it’s hard to pinpoint how much.
The Coal Town Betting Big On Outdoor Recreation
By: Brittany Patterson | Ohio Valley ReSource
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Standing on the breezy outlook at Flag Rock Recreation Area, Norton City Manager Fred Ramey is taking in the panoramic view of downtown Norton, Virginia. The brick building-lined streets are framed by the verdant, rolling Appalachian mountains. Jagged, brown scars from mountaintop mining operations can be seen in the distance, reminders of the region’s history… Read More
U.S. Income Inequality Worsens, Widening To A New Gap
By: Bill Chappell I NPR
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The gap between the richest and the poorest U.S. households is now the largest it’s been in the past 50 years, the U.S. Census Bureau says.
Kentucky Unemployment Rate Rises Slightly in August
By: Associated Press
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FRANKFORT, Ky. (AP) — Kentucky officials say the state’s unemployment rate rose slightly in August. The Kentucky Center for Statistics says the state’s seasonally adjusted jobless rate was 4.4% last month. The preliminary figure is up from the 4.3% rate in July. Last month’s rate was unchanged from the statewide jobless rate in August 2018…. Read More
Fed Cuts Key Interest Rate Again
By: Associated Press
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WASHINGTON (AP) – The Federal Reserve is cutting rates for a second time this year while saying it’s prepared to continue doing what it deems necessary to sustain the U.S. economic expansion. The Fed’s move will reduce its benchmark rate by an additional quarter-point to a range of 1.75% to 2%. The Fed’s key rate… Read More
Fed Eyes Another Interest Rate Cut To Prop Up The Slowing Economy
By: Scott Horsley | NPR
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The Federal Reserve is widely expected to cut interest rates by a quarter percentage point. That could give a lift to the stock market but may not do much to help the economy amid the trade war.
Tepid U.S. Jobs Report Adds To Economic Jitters
By: Scott Horsley | NPR
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The Labor Department says U.S. employers added 130,000 jobs in August, fewer than private analysts had expected. The unemployment rate was unchanged at 3.7%.
Deepening Fears About The Global Economy Send Stocks Falling Again
By: Jim Zarroli | NPR
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Stocks resumed their slide, amid escalating fears that the U.S.-China trade war will further damage a worldwide economy that’s already slowing. Central banks in Asia and New Zealand cut rates.
Trump Taps Health Care Expert As Acting Top White House Economist
By: Scott Horsley | NPR
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President Trump had been expected to nominate Tomas Philipson as permanent chair of his Council of Economic Advisers. Philipson, an expert on health economics, succeeds Kevin Hassett.
Hiring Rebounds In June As Employers Add 224,000 Jobs
By: Scott Horsley | NPR
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Job growth rebounded strongly last month as employers added 224,000 jobs. That followed a disappointing May when employers added just 72,000 jobs.
Fed Ponders When To Cut Interest Rates
By: Scott Horsley | NPR
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There’s an unusual air of suspense surrounding the Federal Reserve’s policy meeting, with the possibility that the central bank could cut rates for the first time in nearly 11 years.
Powering Down: Ohio Community Reckons With Coal Plant Closure
By: Brittany Patterson | Ohio Valley ReSource
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Brick buildings line the wide sidewalks of Main Street in downtown Coshocton, Ohio. On a recent spring day the dogwood trees are blooming. Bright red and white tulips dot the grassy public square, home to the local courthouse and a gazebo. There are barber shops, an optometrist, a florist, a railroad-themed steakhouse is open for… Read More
U.S. Economy Powers Ahead In First Quarter: 3.2% Growth
By: Scott Horsley | NPR
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The Commerce Department says the U.S. economy picked up steam in the first three months of the year. GDP grew at an annual rate of 3.2% in the first quarter, up from 2.2% at the end of 2018,
U.S. Jobs Rebound To Solid Growth; Unemployment Holds At 3.8 Percent
By: Scott Horsley | NPR
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Employers added 196,000 jobs in March, bouncing back from February’s weak growth, the Labor Department said Friday. The jobless rate was unchanged at nearly 50-year lows.
U.S. Economy Grew 2.9 Percent In 2018, Just Below Trump’s Target
By: Jim Zarroli | NPR
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The U.S. economy expanded at a solid 2.6 percent rate during the last three months of 2018, but growth was significantly lower than it had been earlier in the year as the boost from tax cuts waned.
New ARC Grants Combine Economic Recovery And Addiction Recovery
By: Becca Schimmel | Jeff Young | Ohio Valley ReSource
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The Appalachian Regional Commission announced Thursday another $22.8 million in funding to 33 projects aimed at revitalizing economies in places affected by the decline in the coal industry. The awards are the latest in the ARC’s POWER Initiative, an acronym for Partnerships for Opportunity and Workforce and Economic Revitalization. Congress has funded the initiative for four years specifically… Read More
State Of The Union: ‘Tonight, I Ask You To Choose Greatness,’ Trump Says
By: Jessica Taylor | NPR
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The president’s second State of the Union address touched on many of his familiar themes and agenda items but also included moments and proposals that drew positive reaction from Democrats.
Government Shutdown Cut Into Economic Growth, CBO Says
By: Jim Zarroli | NPR
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A report says the shutdown reduced federal spending by $18 billion, although most of that will be recouped, now that the government has reopened.
Shutdown Will Be Worse For Economy Than First Thought, White House Says
By: Emily Sullivan | NPR
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White House officials reportedly say that each week of the shutdown will subtract 0.1 percentage point from growth — double the administration’s original estimate.
W.Va. Tax Collections Above Estimates For 9th Straight Month
By: Associated Press
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CHARLESTON, W.Va. (AP) – West Virginia revenue collections have surpassed tax estimates for nine consecutive months. Gov. Jim Justice announced Tuesday that collections in December were $44.8 million above estimates. That pushes year-to-date collections to $186 million above estimates. Justice has projected the surplus will grow to $300 million by the end of the fiscal… Read More
West Virginia Governor: November Revenue Far Above Estimates
By: Associated Press
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CHARLESTON, W.Va. (AP) – West Virginia Gov. Jim Justice says state revenue collections have surpassed tax estimates for eight consecutive months. Justice announced Tuesday that collections in November were $18.8 million above estimates. That pushes year-to-date collections to $141 million above estimates and 13.2 percent ahead of year-ago receipts. Justice calls it “spectacular news” and… Read More
Ohio’s Leaders React To News Of GM’s Decision To Close The Lordstown Auto Assembly Plant
By: Jo Ingles | Statehouse News Bureau
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News that GM will be idling its Lordstown factory on March 1st is prompting Ohio’s leaders to issue angry statements in news releases and on social media. John Kasich said he’ll work with GM’s leaders to see if anything can be done to save the plant and if not. The estimated 2500 employees will be directed… Read More
China Announces Retaliatory Tariffs On $60 Billion In U.S. Goods
By: Camila Domonoske | NPR
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Earlier this week, the Trump administration threatened to increase tariffs on $200 billion worth of Chinese imports to 25 percent from 10 percent. China quickly vowed to take countermeasures.
U.S. Economy Added 157,000 Jobs In July; Unemployment Dips To 3.9 Percent
By: Avie Schneider | NPR
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The economy continued to add jobs at a steady pace last month and the unemployment rate remained low. Analysts have been looking for signs that wage growth might pick up, but it held steady, too.
Despite Strong Economy, Federal Deficit Soars
By: Scott Horsley | NPR
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Even with a healthy job market and rapid economic growth, the federal government is piling up debt. The government’s deficit is expected to top $1 trillion next year.