economy

Updated at 2:21 p.m. ET

The Federal Reserve increased a key interest rate again Wednesday, which will trigger higher rates on credit cards, home equity lines and other kinds of borrowing.

Local and statewide community groups have teamed up to host South Florida’s first Democratic primary gubernatorial debate on Monday.

Unemployment in Miami-Dade has never been lower.

Unfortunately, the same can also be said of incomes.

AP Photo/Pablo Martinez Monsivais

The mass shooting at Marjory Stoneman Douglas High School almost 10 weeks ago has ushered in a new era of activism. A vocal group of students at Stoneman Douglas has led school walkouts, marches and social media campaigns protesting gun violence. They have inspired student groups across the country to do the same.

 

The U.S. added 200,000 jobs in January, continuing the trend of steady job growth for another month, the Bureau of Labor Statistics reported on Friday.

That means the economy has now added jobs for 88 months in a row. And, significantly, wages are on the rise, too.

Average hourly earnings rose by 9 cents to $26.74, with a year-over-year growth of 2.9 percent — the highest rate of growth the BLS recorded since June 2009.

The unemployment rate held steady at 4.1 percent.

The U.S economy is humming, and President Trump will undoubtedly take credit when he delivers his first State of the Union address on Tuesday.

"The stock market is shattering one record after another," Trump told his Cabinet earlier this month. "Unemployment is at a 17-year low."

Updated at 12:42 p.m. ET

President Trump, playing salesman-in-chief Friday morning at the World Economic Forum in Davos, Switzerland, declared, "America is open for business and we are competitive once again."

He also proclaimed, "America first does not mean America alone."

Chelsea Beck/NPR

President Trump is speaking at the World Economic Forum this morning in Davos, Switzerland. Aides say the president's speech is a pitch to do business in the United States, where Trump is working to foster a new climate of low taxes and limited regulations.

The live stream does not go live until 8am ET.

In a sign of the challenges facing brick-and-mortar retail, Macy’s announced Thursday morning that its downtown Miami store will close.

The downtown Macy’s, at 22 East Flagler Street, is one of 11 stores around the nation that the department store giant said would be getting the ax. The others are in California, Indiana, Idaho, Michigan, Ohio and Vermont. In Florida, the Macy’s story in Oaks Mall in Gainesville will also be closed.

Kari Pinto and her husband recently retired, and now they hope to trade Iowa — and its harsh winters — for a state with a milder climate.

But the tax bill President Trump signed into law last month has complicated their search for a new home.

"Now we just have another wrinkle in trying to determine where to go, and how much it's going to cost us," she says.

It's New Year's Day, so it's time for football, hangovers, resolutions — and forecasts.

With the first three, you're on your own. But for forecasts, we have economists to help. They get paid to peer into the future, and in general, they are seeing good times ahead, thanks to an upbeat business cycle.

"The stage is set for continued solid growth in 2018," Nariman Behravesh, chief economist at IHS Markit, said in his annual forecast. "While economic risks remain, most are low-level threats to the overall picture for 2018."

As midnight strikes on New Year's Eve, many minimum wage workers will have an extra reason to celebrate: They'll be getting a raise.

In 18 states and 20 localities, lawmakers are forcing up the minimum wage on Jan. 1.

For years, a large number of state and local governments have been driving up wages in response to federal inaction. Congress has kept the federal minimum wage at $7.25 an hour since 2009.

Ten years ago this month, you may not have noticed the cracking and crumbling under you.

At the time, you may have had a job, a home and rising retirement savings. Sure, the housing market was hurting a lot, but stock prices were still holding up and Federal Reserve policymakers were offering reasons for calm, saying they expected strong consumer spending.

Tom Hudson and Katie Lepri

It's an understatement to say the holiday shopping season is crucial for retailers. The holiday shopping season is very, very, very (I could go on, but you get the point) important for retailers.

"For some retailers, the holiday season can represent as much as 30 percent of annual sales," the National Retail Federation says. "Overall last year, holiday sales represented nearly 20 percent of total retail industry sales."

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