Economy's rebound not as strong as first thought - Spokane, North Idaho News & Weather KHQ.com

Economy's rebound not as strong as first thought

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  • Jobless claims fall, but hiring gains seem far off

    Jobless claims fall, but hiring gains seem far off

    WASHINGTON. - Although fewer people are claiming unemployment benefits, the number isn't yet low enough to signal that the economy is close to gaining jobs.>>
    WASHINGTON. - Although fewer people are claiming unemployment benefits, the number isn't yet low enough to signal that the economy is close to gaining jobs. Meanwhile, the federal deficit hit a record for October as the new budget year began where the old one ended, with the government awash in red ink. The Treasury Department says the deficit for October totaled $176.4 billion, even higher than the $150 billion imbalance that economists expected.>>

WASHINGTON. - The economy grew at a 2.8 percent pace last quarter, as the recovery got off to a slower start than first thought.
     
The government's new reading on gross domestic product wasn't as energetic as the 3.5 percent growth rate for the July-September period estimated just a month ago.
     
The main factors behind the downgrade: consumers didn't spend as much, commercial construction was weaker and the nation's trade deficit was more of a drag on growth. Businesses also trimmed more of their stockpiles, another restraining factor.
     
The new reading was a tad weaker than the 2.9 percent growth rate economists expected.
     
After the release of the report, stock futures gave up their modest gains from earlier in the morning.

Fed Officials warn that jobless rates will stay high

(November 10, 2009)

Don't look for any easing of unemployment over the next several years.

That assessment comes from Federal Reserve officials, who warn that the jobless rate will probably remain high because the economic recovery won't be strong enough to spur a lot of hiring.

The comments from the presidents of regional Fed banks in San Francisco and Atlanta are the first public words from Fed officials since the government reported last week that the jobless rate is now 10.2 percent.

The Fed officials warn that rising unemployment could put a crimp on consumer activity, and restrain the recovery.

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    Saturday, July 21 2018 1:58 AM EDT2018-07-21 05:58:53 GMT

    STEVENS COUNTY, Wash. - Washington State Patrols responded to a fatal crash in Stevens County Friday evening. On SR-395 in Clayton near Mile Post 185, a vehicle crossed the center line and crashed head on with another car, killing the driver. The causing driver who was transported to the hospital is in custody for vehicular homicide. There were no other occupants of either vehicle. 

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    STEVENS COUNTY, Wash. - Washington State Patrols responded to a fatal crash in Stevens County Friday evening. On SR-395 in Clayton near Mile Post 185, a vehicle crossed the center line and crashed head on with another car, killing the driver. The causing driver who was transported to the hospital is in custody for vehicular homicide. There were no other occupants of either vehicle. 

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    Friday, July 20 2018 8:37 PM EDT2018-07-21 00:37:29 GMT

    SPOKANE, Wash. - Seattle-based Amazon.com is opening a fulfillment center in Spokane, promising more than 1,500 full-time jobs.    The company announced on Friday that it was opening its first fulfillment center in eastern Washington.    The 600,000-square foot center will be built near the Spokane International Airport.

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    SPOKANE, Wash. - Seattle-based Amazon.com is opening a fulfillment center in Spokane, promising more than 1,500 full-time jobs.    The company announced on Friday that it was opening its first fulfillment center in eastern Washington.    The 600,000-square foot center will be built near the Spokane International Airport.

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    Spokane motorcyclist dies in DUI crash near Reardan

    Saturday, July 21 2018 1:47 PM EDT2018-07-21 17:47:50 GMT

    REARDAN, Wash. -  A Spokane man died after crashing his motorcycle on Highway 2 near Reardan in a DUI incident Friday night. Gregory Sutton, 35 of Spokane, was traveling westbound on Highway 2 on his Honda motorcycle when he left the roadway and was ejected from the bike, landing in a ditch near Mile Post 262 in Lincoln County.

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