The National Retail Federation, the nation’s largest retail trade group, said Tuesday that it expects sales during the winter holiday shopping period in November and December to rise 4.1 percent this year. That’s more than a percentage point lower than the growth in each of the past two years, and the smallest increase since 2009 […]
economy
Posted inNation / World, sj-web
Conflicting signals: Why it’s hard to tell if the U.S. economy is on the mend
WASHINGTON — Anyone puzzled by the most recent U.S. economic data has reason for feeling so: The numbers sketch a sometimes contradictory picture of the economy. We’ve learned that: Consumers are more confident but aren’t spending much. Fewer people are losing jobs, but not many are being hired. Home and stock prices are up, but […]
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Posted inNation / World, sj-web
Iceland counting on Hollywood magic
REYKJAVIK, Iceland — Iceland has won praise from Nobel laureate Paul Krugman and the International Monetary Fund for its ability to dig itself out of financial ruin. Now, the island is turning to Hollywood for the next chapter in its recovery. The North Atlantic island has since last year become a backdrop for some of […]
Posted inNation / World, sj-web
Obama: ‘Top-down’ economics never works
MILWAUKEE (AP) — President Barack Obama worked to squash GOP hopes for a resurgence in pivotal Wisconsin on Saturday, pushing back against his GOP rival’s complaints about an overly intrusive government and attracting his biggest crowd of the campaign. Mitt Romney took precious time away from campaigning in the battleground states to troll for cash […]
Posted inMaine, sj-web
University of Maine System pledges to keep tuition and state funding flat for two years
PORTLAND, Maine — The University of Maine System will request flat funding from state government for the next two years and has pledged that for that level of funding, it will keep tuition rates flat for two years as well. Both tuition and state expenditures on the university system have crept upward nearly every year […]
Posted inMaine, sj-web
Report: Fish, game activities mean $1.4B in Maine
AUGUSTA, Maine (AP) — Preliminary figures released Friday say 49 percent of all Maine residents 16 and older hunted, fished or watched wildlife in the state last year, and that a total of $1.4 billion was spent on those activities. The figures were compiled by the U.S. Fish and Wildlife Service, which issues a report […]
Posted inMaine, sj-web
Maine’s median income falls in 2011, while poverty rate increases
New numbers released Wednesday by the U.S. Census Bureau suggest Maine struggled through a stagnant economy in 2011, showing a decline in median household income and an increase in the number of people living below the poverty line. Maine’s median household income in 2011 decreased 2.2 percent, from $47,069 in 2010 to $46,033, according to […]
Posted inNation / World, sj-web
Fed seeking to create wealth, not just cut rates
WASHINGTON (AP) — The Federal Reserve wasn’t just trying to drive interest rates lower when it announced a third round of bond purchases Thursday. It also wants to make Americans feel wealthier — and more willing to spend. The idea is for the Fed’s $40 billion-a-month in bond purchases to drive down interest rates and […]
Posted inOxford Hills, sj-web
Slight decrease in Oxford Hills unemployment rate
OXFORD HILLS — The state-wide unemployment rate has remained relatively flat over the past year, even as Oxford Hills has witnessed a slight decrease in unemployment. The U.S. Department of Labor’s Bureau of Labor Statistics reports that statewide, the seasonally-adjusted unemployment rate in July was 7.6 percent – exactly the same as July 2011. The […]
Posted inBusiness, Maine, sj-web
No bumper crop for Maine potato growers
PORTLAND — Maine potato farmers who dealt with too much rain last summer are dealing with too little this year, leading to predictions of a smaller-than-normal harvest. Meteorologist Rich Norton of the National Weather Service’s Caribou office says June was wetter than normal and rainfall for the year is actually running ahead of average. But […]