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Executive Order Gives A Raise To Hundreds Of Thousands

WASHINGTON (UPI) — President Barack Obama signed an executive order raising the minimum wage for Federal contract workers, a move the White House said will help the economy. The executive order signed Wednesday increases the minimum wage, in stages, to $10.10 per hour for workers hired under new contracts or those up for renewal. It […]

Most U.S. Cities See Home Prices Climb In Fourth Quarter

WASHINGTON(UPI) — The majority of U.S. cities posted gains in single-family home prices in the fourth quarter, the National Association of Realtors said. Compared to the fourth quarter of 2012, the median price for an existing single-family home rose in 73 percent of monitored markets, the trade group said in a pricing study released Tuesday. […]

White House: Federal Bailout For Detroit Was Not An Option

DETROIT (UPI) — A Federal bailout for bankrupt Detroit was not an option due to political opposition, a senior White House economic adviser said. “We did not feel we had any available financial tools, and secondly, we did not think that the prospect of legislation was even close to viable,” said White House National Economic […]

Labor Department: Job Openings Steady At 4 Million

WASHINGTON (UPI) — The U.S. Labor Department said Tuesday that the number of job openings was little changed from November to December. The department said there were 4 million job openings on the last business day of the month. The hire rate dropped slightly from 3.3 percent to 3.2 percent. The separations rate rose slightly […]

Retail Sales Tough Out Another Cold Week

NEW YORK (UPI) — U.S. retail sales slipped 0.3 percent in the week ending Saturday, as store traffic continues to be impacted by harsh winter weather, a retail trade group said. Sales dropped from the previous week, but rose 2.3 percent from the same week of 2013, the International Council of Shopping Centers said in […]

Wholesale Inventories Rose Modestly In December

WASHINGTON (UPI) — U.S. wholesale inventories rose 0.3 percent in December on a seasonally adjusted basis, rising less than economists expected, the Census Bureau said Tuesday. Inventories rose to $517.9 billion, the bureau said. Economists, however, had expected a gain of 0.5 percent. For 2013, the bureau said inventories were up 3.9 percent. Inventories were […]

Yellen Says Fed Will Likely Continue To Taper QE3

WASHINGTON, Feb. 11 (UPI) — The U.S. Federal Reserve will likely continue to reduce its asset purchasing program, Fed Chairwoman Janet Yellen told a Congressional panel Tuesday morning. “If incoming information broadly supports the [Fed's Open Market] Committee’s expectation of ongoing improvement in labor market conditions and inflation moving back toward its longer-run objective, the […]

U.S. Inflation Rising, While Eurozone Prices Slide

NEW YORK (UPI) — A broad-based inflation measure, the Harmonized Index of Consumer Prices, fell slightly in the eurozone in December, the Conference Board said Thursday. The index fell in seven of 16 countries monitored by the Conference Board. Inflation rates rose in four countries and were unchanged in five, the research firm said. In […]

Fewer ‘Hipsters’ Are Flipping Houses, RealtyTrac Says

IRVINE, Calif. (UPI) — Significantly fewer people in the so-called hipster age group between 25 and 34 are entering the U.S. housing market, a recent survey found. Online marketplace RealtyTrac said Thursday that home ownership among the “hipster” ages fell to 41 percent in 2012, down from a long-term average of 46 percent, which includes […]

Mortgage Rates Decline In Week

WASHINGTON (UPI) — Interest rates on mortgage loans dropped for the fourth consecutive week, due to weak economic data, the Federal Home Loan Mortgage Corp. said Thursday. Average rates on 30-year fixed-rate loans slid from 4.32 percent to 4.23 percent with 0.7 points in the week, Freddie Mac said. A year ago, 30-year fixed-rate loans […]

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