Rocky Mountain Voice

Menu

Tag: Economy

Manufacturing sector sheds 78K jobs in last three months
No Comments
Approved, Fox Business, National

Manufacturing sector sheds 78K jobs in last three months

By  Eric Revell | Fox Business The manufacturing sector continued to shed jobs in October, bringing its tally of job losses to 78,000 over the past three months. The Labor Department's Bureau of Labor Statistics on Friday released its jobs report for October, which found that the manufacturing sector lost 46,000 jobs last month, according to the agency's preliminary analysis. That followed a loss of 6,000 jobs in September, which is also a preliminary figure, as well as a decline of 26,000 jobs in August. READ THE FULL STORY AT FOX BUSINESS
Read More
Wendy’s to close 140 restaurants by the end of the year
No Comments
Approved, Fox Business, National

Wendy’s to close 140 restaurants by the end of the year

By Daniella Genovese  | Fox Business Fast food giant Wendy's is shuttering 140 underperforming locations through the end of 2024 as it looks to improve its "restaurant footprint and overall system health."  To counter the closures, though, the Ohio-based company is working to replace many of these units with "new restaurants at better locations with significantly improved sales and profitability," Wendy's CEO Kirk Tanner told analysts on its third quarter earnings call.  The company thoroughly reviewed individual restaurants to ensure they meet sales expectations and are profitable enough to support growth, and said that the locations closing are "outdated and in underperforming areas," with operating margins far below the system average, Tanner said. READ THE FULL STORY A...
Read More
US economy grew 2.8% in the third quarter, slower than expected
No Comments
Approved, Fox Business, National

US economy grew 2.8% in the third quarter, slower than expected

By Eric Revell  | Fox Business The U.S. economy grew slightly slower than expected in the third-quarter amid easing inflation and strong consumer spending. The Commerce Department's Bureau of Economic Analysis released its advance estimate for third-quarter gross domestic product (GDP), which found the U.S. economy grew at an annual rate of 2.8% in the third-quarter, which runs from July through September. Economists surveyed by LSEG had expected the economy to grow at a 3% rate in the quarter. The report also finalized second-quarter growth at 3%. Consumer spending, which accounts for about two-thirds of GDP, was up 3.7% in the third-quarter and accelerated from 2.8% in the second-quarter.  READ THE FULL STORY AT FOX BUSINESS
Read More
Existing home sales fall to 14-year low as home affordability crisis squeezes American families
No Comments
Approved, Breitbart, National

Existing home sales fall to 14-year low as home affordability crisis squeezes American families

By John Carney | Breitbart Home sales fell to the lowest level in 14 years, as high home prices, inflation-depleted savings, still-elevated mortgage rates, and election uncertainty kept buyers on the sidelines Sales of existing homes—which make up most real estate transactions in the U.S.—fell by one percent to an annual rate of 3.84 million in September, the National Association of Realtors said Wednesday. Economists had forecast a stronger 3.9 million sales figure for the month. Sales fell by about 2.5 percent in the prior month. READ THE FULL STORY AT BREITBART
Read More
Denny’s to close 150 restaurant locations
No Comments
Approved, Fox Business, National

Denny’s to close 150 restaurant locations

 By Aislinn Murphy   | Fox Business Denny’s Corporation will close 150 of its Denny's restaurants. The company, which owns the Denny’s and Keke’s Breakfast Cafe chains, said those Denny’s locations will close by the end of 2025. Dozens of those 150 restaurants will close this year, according to an investor day presentation published Tuesday by the company. Other domestic Denny’s locations will undergo "rehabilitation" through various strategies, including their potential acquisition by "stronger operators," according to the investor day presentation. READ THE FULL STORY AT FOX BUSINESS
Read More
Boeing strike costliest in economic damage so far in 2024
No Comments
Fox Business, National

Boeing strike costliest in economic damage so far in 2024

By Breck Dumas | Fox Business The ongoing strike by Boeing's union machinists could end this week, but not before racking up more economic damage than any other work stoppage in the U.S. so far this year, according to estimates. Boeing and the union, the International Association of Machinists and Aerospace Workers Local 751, reached a tentative agreement Saturday. The striking workers will vote Wednesday on whether to take the latest offer, which includes a 35% pay hike over four years, a new incentive plan and a $7,000 ratification bonus. But even if the workers agree to accept the deal – which is not guaranteed – the impact could extend far beyond its current price tag, according to Anderson Economic Group (AEG) principal and CEO Patrick Anderson. "If they ratify the contrac...
Read More
Gallup poll finds majority of Americans feel worse off now than four years ago under Trump
No Comments
Approved, Breitbart, National

Gallup poll finds majority of Americans feel worse off now than four years ago under Trump

By Wendell Husebø | Breitbart A majority of Americans (52 percent) feel worse off today than four years ago under former President Donald Trump, Gallup polling found Friday. Four years ago the nation was in the midst of the coronavirus pandemic, which greatly impacted the economy and the lives of millions of Americans. Despite the crises, Americans believe they were better off. Costs increased by about 20 percent across the board after the Biden-Harris administration assumed office and instituted “Bidenomics.” Russia invaded Ukraine, Hamas and Iran attacked Israel, illegal migrants invaded the southern border, and the nation suffered the deadly Afghan withdrawal. Gallup reported its findings, predominantly shaped by soaring costs: READ THE FULL STORY AT BREITBAR...
Read More
Major paint company to lay off 1,800 workers, close facilities in cost reduction program
No Comments
Approved, Fox Business, National

Major paint company to lay off 1,800 workers, close facilities in cost reduction program

By Daniella Genovese  | Fox Business PPG — a global manufacturer of paints, coatings, and specialty materials — is laying off nearly 2,000 workers as it trims operation costs and sells off a chunk of its architectural business. The cuts will impact about 1,800 positions, primarily in the U.S. and Europe. PPG didn't disclose when the layoffs would occur. The Pittsburgh-based company said it is part of a comprehensive cost reduction program focused on reducing structural costs primarily in Europe and in certain other global businesses, along with other corporate costs. The program also includes various facility closures. READ THE FULL STORY AT FOX BUSINESS
Read More
Mortgage rates higher for third straight week, with 30-year at 6.44%, market survey finds
No Comments
Approved, Fox Business, National

Mortgage rates higher for third straight week, with 30-year at 6.44%, market survey finds

By Breck Dumas  | Fox Business Mortgage rates continued their upward climb this week, further hindering demand in the housing market amid elevated rates and high home prices. Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage surged to 6.44% from last week's reading of 6.32%. The average rate on a 30-year loan was 7.63% a year ago. "The 30-year fixed-rate mortgage increased for the third consecutive week, moving closer to 6.5%," said Sam Khater, Freddie Mac’s chief economist.  READ THE FULL STORY AT FOX BUSINESS
Read More
St. Onge: Inflation rising is awkward for Chairman Powell, nightmare for Kamala Harris
No Comments
Approved, Commentary, National, The Daily Signal

St. Onge: Inflation rising is awkward for Chairman Powell, nightmare for Kamala Harris

By Peter St. Onge, Commentary | Daily Signal Inflation is rising again, and even Federal Reserve cheerleader Bloomberg is worried the Fed is losing the plot. Inflation rising is awkward for the Fed, given Chairman Jerome Powell already cut rates for the looming recession. In fact, he just did a jumbo half-point cut—which makes inflation go up. This is known as a policy error. And the Fed’s been making a lot these days. READ THE FULL STORY AT THE DAILY SIGNAL Editor’s note: Opinions expressed in commentary pieces are those of the author and do not necessarily reflect the opinions of the management of the Rocky Mountain Voice, but even so we support the constitutional right of the author to express those opinions.
Read More

Join us at RMV's Freedom Festival

Click Here for Tickets!

This will close in 0 seconds