economy

Irma Insurance Claims Already Near $2 Billion

15 hours ago

With 335,000 insurance claims representing $1.9 billion in property losses, Hurricane Irma already has exceeded the claims and losses from the two hurricanes that pummeled Florida last year, the state Office of Insurance Regulation reported Monday.

Ask AFL-CIO President Richard Trumka about the climate for unions on this Labor Day weekend, and he starts with something positive: a new Gallup poll showing public support for unions at its highest point since 2003.

"There's much more excitement about unions," Trumka says during an interview in his Washington, D.C., office just across Lafayette Square Park and with a view of the White House. He adds that, "over 61 percent of the people in the country support unions."

Updated at 10:30 p.m. ET

President Trump declared Wednesday he is disbanding two economic advisory panels, after a growing number of the corporate CEO's who sat on them decided to leave, in the wake of Trump's response to the violence in Charlottesville, Va., over the weekend.

Trump said in a tweet that he is ending the Manufacturing Jobs Initiative and the Strategic and Policy Forum "rather than putting pressure on the businesspeople" that made up those groups.

Under Armour founder and CEO Kevin Plank set off a social media firestorm last February when he voiced some overly positive words about the new administration of President Trump.

"To have such a pro-business president is something that's a real asset for this country. I think people should really grab that opportunity," said Plank, whose company makes sports apparel.

The number of tourists visiting Florida continues to grow.

The Trump administration's promise to turbocharge economic growth has yet to be fulfilled, even though forecasters are predicting that the economy has rebounded from a weak 1.4 percent annual growth rate in the first three months to a rate closer to 2.8 percent. That is the number many economists are expecting to see when the government issues its report on second-quarter growth on Friday.

An estimated 222,000 jobs were added to the U.S. economy in June, according to the monthly employment report released by the Bureau of Labor Statistics Friday.

"The job gains were better than expected — most economists had predicted a gain of 180,000 jobs," NPR's Chris Arnold reports for our Newscast unit.

The unemployment rate rose slightly to 4.4 percent from 4.3 percent — a 16-year low that was hit in May.

Climate scientists agree that this century is getting much warmer and that such warming will likely bring economic pain to the U.S., but economists aren't sure how much. Now, a team of scientists and economists, writing in the upcoming issue of the journal Science, says it can at least tell which parts of the country are likely to suffer the most.

courtsey: Kairos

Entrepreneurship in South Florida region is very healthy. But it also is struggling.

Updated at 11:46 a.m. ET

The U.S. economy added 138,000 jobs in May, according to the monthly jobs report released by the Bureau of Labor Statistics on Friday morning.

The national unemployment rate nudged lower, to 4.3 percent from 4.4 percent — a 16-year low. The 4.4 percent level had been the lowest since since 2007, before the recession hit.

Survey: Consumer Confidence In State Drops Again In May

Jun 1, 2017

Consumer confidence in Florida keeps dropping.

One in eight Americans — 42 million people — still struggles to get enough to eat. And while that number has been going down recently, hunger appears to be getting worse in some economically distressed areas, especially in rural communities.

Food banks that serve these areas are also feeling the squeeze, as surplus food supplies dwindle but the lines of people seeking help remain long.

In a new book, The Complacent Class, economist Tyler Cowen argues that the United States is standing still.

People have grown more risk averse and are reluctant to switch jobs or move to another state, he says, and the desire to innovate — to grow and change — has gone away.

In an interview with NPR's Rachel Martin, Cowen says he's worried that more and more communities are self-segregating — by income, education or race.

Amanda Rabines / WLRN News

Over the past year, Florida has been second only to California in the number of new jobs created with just over a quarter of a million new jobs. But California’s labor market is twice the size of Florida’s. The rate of growth of Florida's job market also ranked second in the nation at 3.1 percent. (Oregon was No. 1.)

 

The Senate voted to confirm Steven Mnuchin as President Trump's Treasury secretary in a 53-47 vote Monday.

Mnuchin's approval came over the objections of some Democratic senators who pointed to Mnuchin's business record running a bank that hastily foreclosed on homeowners. It also drew fire from those who say that with the appointment of Mnuchin and other former bankers to key roles close to the White House, the administration is going back on its promise to get tough on Wall Street.

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