States Chronicle - Latest Breaking World News

Thursday, February 25, 2021
Log in
  • About Us
  • Contact Us
  • Authors
  • Investor Relations
  • Privacy
  • Terms of Use
  • Latest News
    • Right Colors for your Skin Tone
    • MOST ACTIVE NASDAQ After-Hours
    • iPhone 5C Release Date
    • Samsung Galaxy S5 Release Date
    • The History of the Atkins Diet

Minor economic recovery signs from the labor market

June 26, 2014 By Jack M. Robinson Leave a Comment

Email, RSS Follow

Unemployment claims have fallen

The economic recovery is doing just a little better. The Commerce Department announced today that consumer spending has increased by a meager 0.2 percent, which turns out to be actually a negative outcome if adjusted to inflation. The number forces the economists to reconsider some previously optimistic forecast of a 4 percent growth during the second quarter’s GDP. For one year straight, the index measuring personal consumption has risen with 1.8 percent, indicating a minor economic recovery. After approximately two years of incremental growth, it has reached a plateau.

Fortunately, inflation remains under the 2 percent target set by the Federal Reserve. Without expanding consumer spending, though, a low level of inflation is not necessarily a good sign. Both medical spending, as well as wage growth, have been reduced, influencing the inflation’s depression.

A good sign regarding the economic recovery might be the Labor Department’s announcement that the number of jobless claims has dropped by 2000 to 312.000 in the June 21 week. It revolved around the number for a couple of weeks now and is estimated to slightly grow normally in July, due to seasonal activities, The Street reports. The continuing claims’ level has fortunately reached a historical low of 2.571 million, even lower the 2.586 registered on the 3rd of November 2007, which might be looked at a healthy, even though minor economic recovery.

Minor economic recovery through minimum wage increases

These seem to be good news, but the economic recovery still seems incredibly sluggish. As long as there is no consumer spending, growth can hardly be achieved. Against austerity measures supporters claim that raising the wages is a solution to expand consumer purchasing power and overall production of goods and services. We do have a couple of signs toward this.

Seattle is trying to impose a minimum wage gradual raise up to $15 per hour, although it faces strong opposition by the D.C.-based business group, International Franchise Association. The arguments invoque the measure’s discrimination between the local and franchise businesses by considering franchises as large national companies, which are forced to adopt the measure sooner.

Ikea decided as well to raise the minimum wage. Starting with January 1, 2015, the measure will be introduced, while being adjusted to different areas for cost of living. For IKEA it will mean a 17 percent pay change. Both cases lay hopes for the minor economic recovery to grow larger.

Email, RSS Follow

Filed Under: Business Tagged With: economic growth, minimum wage, minor economic recovery

About Jack M. Robinson

Jack enjoys keeping abreast of everything connected to economic indicators. A School of Journalism, Michigan State University graduate, he loves covering monetary policy and company financials and has a particular interest in writing about the latest gadgets.

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 30 other subscribers

Doom and MiniDoom 2

Volunteer-Based Mexican Studio Releases Sidescrolling Doom Clone

March 12, 2018 By Georgia Dawson Leave a Comment

Chinese Mom and locked iPhone.

Toddler Locks Chinese Mom Out of Phone for Half a Century

March 9, 2018 By James Faulkner Leave a Comment

Alexa laughing

Amazon Alexa Laughing out of the Blue Puzzles Engineers

March 8, 2018 By Jack M. Robinson Leave a Comment

Flippy and the Burgers

Meet Flippy, World’s First Fast-Food Robotic Chef

March 6, 2018 By Georgia Dawson Leave a Comment

System Shock

System Shock Remastered Delayed, Nightdive Studios CEO Announces

February 19, 2018 By Janet Vasquez Leave a Comment

Sea of Thieves.

Sea of Thieves Optimized for Low-End PCs

February 14, 2018 By Georgia Dawson Leave a Comment

Sony and VR

Sony Touts New Generation of VR Controllers

January 31, 2018 By Deborah Cobing Leave a Comment

YouTube

YouTube Stiffens Its Monetization Policy to Discourage Spammers and Bad Actors

January 18, 2018 By Georgia Dawson Leave a Comment

Google Art Doppelganger

Google App Can Now Show Your Art Doppelganger

January 15, 2018 By Troy Rubenson Leave a Comment

YouTube mobile app logo on a smartphone

YouTube Now Enables Vertical Videos on iOS

December 24, 2017 By Janet Vasquez Leave a Comment

Samsung Galaxy S2 with a shattered screen

Cracked Smartphone Screens Are a Thing of the Past – Self-Healing Polymer Gets Fixed Just by Pressing It

December 20, 2017 By Janet Vasquez Leave a Comment

Bing logo on a white background

Bing Improves Its Search Results with the Help of AI and Reddit Integration

December 16, 2017 By Janet Vasquez Leave a Comment

White hashtag on a blue background

Follow Your Interests on Instagram by Directly Following Hashtags

December 14, 2017 By Janet Vasquez Leave a Comment

Samsung Galaxy S7 Edge on a leather seat

Samsung Galaxy Smartphones Make More People Happier as Compared to iPhones

December 13, 2017 By Janet Vasquez Leave a Comment

Related Articles

  • United Airlines Held Accountable for Dog Death

    United Airlines Under Fire after Dog Dies in Overhead Bin

    Mar 14, 2018
  • google self-driving car

    Waymo’s Driverless Technology Is Still Not Ready For the Roads Yet

    Nov 2, 2017
  • gasoline tanks

    White House Advisor Gary Cohn Reboots Plans for Increasing Gas Tax

    Oct 29, 2017
  • traffic jam

    Singapore to Implement Stringent Rules in 2018 to Curb Car Pollution Growth

    Oct 25, 2017
  • Native American Tribe Invokes Sovereign Immunity to Sue Microsoft, Amazon over Patents

    Oct 20, 2017
  • sundar pichai

    Job Seekers to Benefit Training Thanks to Grow with Google Program

    Oct 15, 2017
  • alibaba headquarters

    Alibaba Will Allot $15 Billion to Abroad Research and Development Center

    Oct 12, 2017
  • warehouse with boxes

    Amazon Restricts Dependence on Third-Parties with Its Own Delivery Services

    Oct 7, 2017
  • remote control

    Disney and Altice Agree on New Programming Deal to the Benefit of New Yorkers

    Oct 2, 2017
  • Vinyl

    Sony Wants to Revive Vinyl Production in Japan

    Jul 2, 2017

Categories

  • Business
  • Entertainment
  • Health
  • Lifestyle
  • Markets
  • National News
  • Nature
  • News
  • Politics
  • Science
  • Technology
  • Uncategorized
  • World

Copyright © 2021 statechronicle.com

About · Privacy Policy · Terms of Use · Contact

This website uses cookies to ensure you get the best experience on our website. Learn more.