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Economy Adds 175,000 Jobs, Better Than Expected; Slight Uptick In Unemployment

WASHINGTON (UPI) — U.S. employers added 175,000 jobs in February, beating analyst estimates, but the jobless rate rose slightly on account of more people entering the workforce. Despite the better-than-expected job numbers, the latest figures are still down from last year’s 190,000 average new monthly jobs. The 175,000 gain comes at the heels of last […]

Bank Of England Suspends Employee Amid Currency Manipulation Probe

LONDON (UPI) — The Bank of England said it suspended an employee as it began investigating claims officials either condoned or knew of foreign exchange market manipulation. The bank said it suspended the staff member during the investigation even though it found no evidence of its staff colluding in market manipulation or participated in the […]

Pending Home Sales Stable In Deep Chill Of January

WASHINGTON (UPI) — Pending home sales were essentially unchanged in January with tentative sales up in the South and Northeast, but in decline elsewhere, a trade group said. The National Association of Realtors said the Pending Home Sales Index rose 0.1 percent in January over December, rising to 95 from an upwardly revised 94.9 in […]

U.S. Fourth-quarter GDP Estimate Dropped To 2.4 Percent

WASHINGTON (UPI) — The U.S. economy grew at an annual rate of 2.4 percent in the fourth quarter of 2013, the Commerce Department said in a revised estimate Friday. With gains in consumer spending less than previously believed, the department lowered its economic growth estimate from 3.2 percent, the figure released last month. The second […]

Bitcoin Exchange Mt. Gox Files For Bankruptcy Protection

TOKYO (UPI) — The Bitcoin exchange in Tokyo, Mt. Gox, said it was filing for bankruptcy three days after declaring it would temporarily close down transactions. The exchange that handled 80 percent of bitcoin transactions at one point said it had $63.6 million in outstanding debt and that three quarters of a million bitcoin belonging […]

Rates On Fixed-Rate Mortgages Ease Back

WASHINGTON (UPI) — Interest rates on fixed-rate loans rose for the fourth consecutive week, while adjustable rates eased back, the Federal Home Loan Mortgage Corp. said Thursday. Interest rates for long-term loans “edged up with new home sales exceeding expectations,” Freddie Mac vice president and Chief Economist Frank Nothaft said in a statement. “The 9.6 […]

Yellen: Unemployment Has Improved But More Progress Needed

WASHINGTON (UPI) — Federal Reserve chief Janet Yellen told a Senate panel Thursday unemployment has improved but has a way to go. Yellen, sworn in earlier this month as chairwoman of the Board of Governors of the Federal Reserve System, spoke to the Senate Committee on Banking, Housing and Urban Affairs, delivering her semiannual report […]

U.S. Wealth Split Community By Community

NEW YORK (UPI) — A study of wealth shows half the housing value in the country is concentrated in just 10 percent of U.S. cities, the Conference Board said. The study produced by The Demand Institute, a think tank jointly run by The Conference Board and Nielsen, shows “a startling contrast in economic prosperity between […]

First-time Jobless Claims Climb By 14,000

WASHINGTON (UPI) — First-time unemployment benefits claims rose by 14,000 to 348,000 in the week that ended Saturday, the U.S. Bureau of Labor Statistics said. First-time claims rose from a revised figure of 334,000 for the previous week, the department said Thursday. The four-week rolling average of first-time jobless claims was unchanged at 338,250. The […]

Institutional Home Buyers In Retreat

IRVINE, Calif. (UPI) — Don’t blame the retreat of institutional home buyers on winter weather, a U.S. real estate research firm said Thursday. January data provides an early hint of institutional buyers pulling back after driving the housing market recovery, online marketplace RealtyTrac reported. But cold weather is not the reason, RealtyTrac Vice President Daren […]

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