US Economy

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Happy birthday, America! Nothing says red, white and blue like green. And with the Fourth of July landing on a Saturday this year, Americans will be spending plenty of money. THE BBQ The American Farm Bureau says the average Fourth of July BBQ will cost $5.58 a person, down 3 percent. That includes a hot …

Source: CNBC

After six months of looking for a full-time job, 49-year-old Emily Cherin found plenty of part-time work through TaskRabbit, an odd-jobs job site. “Oh my God, it saved me,” said the energetic New Jersey native. “My world just sort of exploded.” Cherin is one of an increasing number of Americans who is freelancing. A 2010 …

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It’s time the “sharing” workforce came out of the shadows. From the tax code to the monthly jobs report to the whole premise of “retirement,” America’s concept of work is dangerously stuck in the 20th century. Trends that were already taking shape—work becoming untethered from the office, the mobile and cloud technological revolution, benefits being …

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Investors looking for clues on how the slightly weaker-than-expected June jobs report figures into the Federal Reserve‘s thinking on interest rates should relax, market watcher Richard Bernstein said Thursday, moments after the employment numbers were released. “It’s kind of a Goldilocks number—not too hot, not too cold,” the CEO of Richard Bernstein Advisors told CNBC’s …

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A for sale sign is posted in front of a home for sale in San Rafael, California.

Home prices continued to rise in April, but at a slower pace than the previous month, according to the latest S&P/Case Shiller Index report. The 20-city index rose 4.9 percent year-over-year, though the rate of annual price gains slowed in 11 urban areas. “Home prices continue to rise across the country, but the pace is …

Atlantic City’s economy

Atlantic City is still reeling from economic woes, financial missteps and Superstorm Sandy.

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San Francisco Federal Reserve President John Williams

A liftoff from near-zero interest rates will likely happen this year, and delaying a hike for too long poses risks, a top Federal Reserve official said Friday. San Francisco Federal Reserve President John Williams remains in “wait-and-see mode” on interest rate policy, he noted in prepared remarks following the The National Bureau of Economic Research …

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The Congressional Budget Office released a report on Friday that said a repeal of the Affordable Care Act (ACA), over the next decade, would “probably increase budget deficits with or without considering the effects of macroeconomic feedback.” (Tweet this) Depending on those economic considerations, the federal deficit could increase up to $353 billion over the …

Texas gold rush?

Texas wants to do something no state has done before, it wants to get its gold back.

When will the Fed raise rates?

Federal Reserve chair Janet Yellen says the central bank isn’t ready to raise rates, but when it does, the focus should be on what happens next.

Janet Yellen, Chair of the Federal Reserve.
Scott Eisen | Bloomberg | Getty Images

Keeping a tight lid on its future intentions, the Federal Reserve on Wednesday held interest rates steady at zero and provided only faint clues about when the first hike in nine years might occur. Adhering to market expectations, the Fed’s Open Market Committee voted essentially to maintain the status quo that has prevailed since the …

Robert Galbraith | Reuters
Shopper at a clothing store in San Francisco.

U.S. consumer sentiment rebounded in early June, beating expectations, according to a report released on Friday. (Tweet this) The Thomson Reuters/University of Michigan’s preliminary June reading on the index was 94.6. That beats the previous month’s reading of 90.7 and Reuters’ estimates for 91.5. Read More Gas and food surge sends May prices on a tear …

Consumer comeback

The latest report on retail sales shows Americans have not forgotten how to spend and that could be good news for the economy.

Damian Dovarganes | AP
Workers react as the Los Angeles City Council votes 13-1 to raise the minimum wage to $15 an hour by 2020.

Los Angeles on Wednesday approved a minimum wage hike to $15 an hour, becoming the latest large city to increase pay amid mounting pressure. The gradual wage increase in the second-largest U.S. city—which the city council passed in a 12-1 vote—will take place by 2020. Read More Buffett: This is better than raising the minimum wage …

Source: Start-Up NY

New York is a big state with a long history of doing things big. That is especially true when it comes to subsidizing business. According to the watchdog group Good Jobs First, the Empire State has awarded nearly 72,000 subsidies to corporations, mostly since 2007, worth $22.6 billion. That is more than any other state …