US Economy

Avalanche of economic data

The shortened holiday week is packed with data. Steve Liesman tells us what to expect from several key reports.

Suzanne Plunkett | Reuters

There are more payday lenders in the U.S. than McDonald’s or Starbuckses, reflecting economic conditions in which fast money is even more important than fast food. Payday lending, in which users pay a fee for what amounts to an advance on their paychecks, has blossomed over the past 20 years. There are now more than …

Charles Mostoller | Reuters
Undocumented immigrant Angela Navarro and her husband Ermer Fernandez (L), along with other immigrants and supporters, watch President Barack Obama announce executive action on immigration, at the West Kensington Ministry church, in Philadelphia, Nov. 20, 2014.

The loud, ongoing debate over immigration reform often overlooks one very important impact from letting more foreigners come to live and work in the U.S. Many researchers believe it’s good for the economy. The U.S. economy can use all the help it can get these days. Though the American job and housing markets continue their …

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Mexican agricultural workers cultivate romaine lettuce on a farm in Holtville, Calif.

President Barack Obama’s new immigration plan may end up doing the most damage to the very sectors that begged for reform. The White House boasted Thursday the president’s historic executive actions on immigration will help the U.S. economy, but some predicted it will actually harm Americans’ wages. More surprisingly, however, is the possibility that a new …

Holiday economic forecast

Steve Liesman tells us the forecast for how much consumers will spend this holiday season and what that says about the U.S. economy.

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The Federal Reserve building.

Markets showed a mildly positive reaction to the minutes, with the S&P 500 stock index edging into positive territory. That was a contrast to October, when the Fed released the September meetings and stocks rose 1.75 percent for the day. That was followed the day after by a 2.1 percent decline. Kocherlakota spoke for nervous …

Shannon Stapleton | Reuters
People wait in line to enter the Nassau County Mega Job Fair at Nassau Veterans Memorial Coliseum in Uniondale, N.Y., Oct. 7, 2014.

In college, English major Michael Greene planned to pursue a career in advertising. He built a portfolio and had several interviews. But when he graduated in 2008, the recession was in full swing. Now, six years later, he’s held a handful of jobs in various fields—telemarketing, office administration and now information technology—but not advertising. While …

M_a_y_a | Getty Images

Entrepreneur Kyle Davidson has been on many adventures. But the one that’s been most meaningful came after he left Living Social, an online marketplace that features local deals for its subscribers. Davidson had worked on the company’s adventures team, crafting deals on snowboarding, skiing, rafting, wine tours and other trips. When his job came to …

Daniel Acker | Bloomberg | Getty Images
A weld shack is moved toward a pipe joint during construction of the Keystone XL Pipeline in Atoka, Oklahoma.

What if they voted for a pipeline but nobody came? As Congress rushes to approve the long-delayed Keystone XL pipeline, it is questionable whether or not the project will make as much of a difference as proponents expect. Since June, crude oil has declined by 28 percent, pushing the price that oil from new wells …

Ali Mohammadi | Bloomberg | Getty Images
A currency trader counts US 100-dollar notes.

No question, the U.S. dollar is the trade du jour. Investors are betting on the buck for good reason: The U.S. economy is outperforming other global economies, and the Federal Reserve is moving closer to raising interest rates. At the same time, other central banks in Europe and Japan are moving in the opposite direction, …

U.S. & China reach climate deal

Are the world’s two largest economies, the U.S. and China, entering a new phase of friendlier relations? And what might that mean for business?

Ann Baldwin | Getty Images
Drought resistant garden.

Julio Lopez owns and runs Cadre Landscaping in the Southern California city of Glendale. The 54-year-old Lopez said he’s been so swamped with work lately, he’s unable to handle the dozens of calls he gets from homeowners wanting to remove their current lawns and put in drought-resistant ones. “Most of my business is commercial real …

furniture anchor canvas w flag

The founders of Maker’s Row aim make it easier and cheaper for would-be entrepreneurs to find domestic manufacturers.

Judge approves Detroit’s restructuring plan

A federal judge approved Detroit’s plan to restructure and emerge from the largest municipal bankruptcy in history.

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A worker polishes a 2015 Ford Mustang on Aug. 28, 2014 in Flat Rock, Mich.

October’s employment report shows steady jobs growth; a slow decline in the unemployment rate and no signs of wage pressures—a solid formula that does little to change expectations for the economy or the Fed. The Labor Department said Friday 214,000 nonfarm payrolls were added in October, and the unemployment rate fell to 5.8 percent from …