economy

Governor-Agriculutre
5:43 pm
Tue February 12, 2013

Study: Ag, Forestry Have $70 B Impact On Alabama

Gov. Robert Bentley helped release a study showing Alabama's agricultural and forestry industries economic impact.
Credit blog.al.com

A new study of Alabama's agricultural and forestry industries says they contribute more than $70 billion annually to Alabama's economy and account for 22 percent of the state's workforce.


The Alabama Agribusiness Council and other groups joined Gov. Robert Bentley in releasing the study Tuesday.


Bentley said the last similar study was done in 1989, and the new study by Auburn University shows how important agriculture and forestry are to Alabama's economy.

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U.S.
5:19 pm
Tue July 24, 2012

Offshore Jobs Play Role In Campaigns And Economy

Originally published on Wed July 25, 2012 4:46 pm

President Obama and Republican challenger Mitt Romney have been trading attacks over the issue of American jobs being moved overseas.

The president has pounded Romney for the investments made by his former firm Bain Capital in the 1990s. Not to be outdone, the Romney campaign has suggested most of the money from the president's stimulus program went to create jobs overseas.

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Alabama Unemployment
3:43 pm
Fri July 20, 2012

Alabama Jobless Rate Up to 7.8 percent in June

MONTGOMERY, Ala. (AP) — Alabama's unemployment rate rose to 7.8 percent in June, an increase that state officials are calling seasonal.

The Alabama Department of Industrial Relations released the state's jobless rate on Friday. It was up four-tenths of a percent from May's unemployment rate of 7.4 percent, but it's still well below the jobless rate from a year ago.

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Around the Nation
11:20 am
Fri July 20, 2012

For Stockton, Calif., Bankruptcy 'Freezes Everything'

Many cities around the country are faced with growing costs and shrinking revenue. Despite making sweeping cuts, Stockton, California recently became the largest city to file for bankruptcy. Host Michel Martin talks with Stockton Mayor Ann Johnston about how she's managing a city that's operating in the red.

Planet Money
4:46 pm
Thu July 19, 2012

Six Policies Economists Love (And Politicians Hate)

A marijuana cigarette in British Columbia. Our panel of economists agrees that criminalizing pot is a huge waste of resources.
Jae C. Hong AP

Originally published on Wed October 3, 2012 11:18 am

Tuesday's show presented the common-sense, no-nonsense Planet Money economic plan — backed by economists of all stripes, but probably toxic to any candidate that might endorse it.

You can still listen to the show, but we've had some requests for a post with our six-step plan spelled out in brief.

So here they are, along with a few words about each of the economists who helped craft it:

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The Two-Way
4:37 pm
Thu July 19, 2012

A First As A Public Company, Microsoft Reports Quarterly Loss

Microsoft CEO Steve Ballmer comments on the Windows 8 operating system before unveiling Surface, a tablet computer to compete with Apple's iPad.
Damian Dovarganes AP

Originally published on Thu July 19, 2012 5:18 pm

Microsoft made a $6.2 billion accounting adjustment this quarter that threw it into negative territory for the first time as a public company, the AP reports.

Microsoft took the charge mostly based on the acquisition of aQuantive, an online advertising company Microsoft acquired in 2007.

As MSNBC reports, the "charge was an acknowledgement that the company's struggling online services division — which lost about half a billion dollars in the previous quarter — is a significant financial drag on the company." Microsoft, remember, is the owner of the search engine Bing.

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Planet Money
8:59 am
Thu July 19, 2012

Wait, Investors Paid Germany To Hold Their Cash?

Monument to headier times: The euro logo outside the European Central Bank in Frankfurt. The International Monetary Fund has warned of possible deflation in parts of Europe.
Frank Rumpenhorst AFP/Getty Images

Originally published on Thu July 19, 2012 3:00 pm

On Wednesday, investors paid Germany to hold on to their money for a couple years.

That's right: Germany got to borrow more than 4 billion euros (about $5 billion), and instead of Germany paying interest to its lenders, the lenders are paying Germany. This a lot like Citibank paying you a smidgen to carry a balance on your credit card or to take out a loan (without also charging you interest).

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The Two-Way
7:48 am
Thu July 19, 2012

Jobless Claims Rose By 34,000 Last Week

There was a 34,000-increase in the number of Americans filing first-time claims for jobless benefits last week, the Employment and Training Administration reports.

It says 386,000 people filed claims, up from 352,000 the week before. "The 4-week moving average was 375,500, a decrease of 1,500 from the previous week's revised average of 377,000."

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Planet Money
10:20 am
Mon July 16, 2012

How A Bloated Wall Street Can Hurt Growth

Helping or hurting the economy?
Bebeto Matthews AP

Originally published on Mon July 16, 2012 8:59 am

We all know an out-of-control financial sector can cause acute and long-lasting problems, thanks to the recent financial crisis. But is there also a more chronic drag on the economy when the finance crowd gets too thick?

One recent paper (PDF) suggests so, and tries to quantify just how much a bloated financial sector can hurt economic growth.

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Opinion
8:51 am
Mon July 16, 2012

The Nation: A New Way To Get The Economy Moving

Federal Reserve Chairman Ben Bernake speaks during a press conference at the William McChesney Martin Federal Reserve Board Building in Washington, DC, June 22, 2011.
Jim Watson AFP/Getty Images

Originally published on Tue July 17, 2012 7:21 am

William Greider is a national affairs correspondent for The Nation.

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Food Stamps
5:42 pm
Mon July 9, 2012

Number of Alabamians on food stamps growing again

ajmexico Flickr

Nearly one in five Alabama residents is getting food stamps, and the number is growing again after declining for a few months.

The number of Alabamians on food stamps peaked at 916,000 in December and then began declining slightly each month. It reached a low of 902,000 people in April.

Then, in May, the number rose to nearly 907,000 people on food stamps. That's the equivalent of 19 percent of Alabama's residents.

The increase coincided with Alabama's unemployment rate going up in May after declining for several months.

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Opinion
1:00 pm
Mon July 9, 2012

New Republic: The Exile Of John Maynard Keynes

British economist and the founder of 'Keynsian economics' John Maynard Keynes (1883 - 1946) is pictured in this 1938 photo.
Gordon Anthony Getty Images

Originally published on Mon July 9, 2012 8:03 am

Robert Skidelsky is John Maynard Keynes's biographer and a member of the British House of Lords.

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Planet Money
12:47 pm
Mon July 9, 2012

What ever happened to the TED spread?

TED spread charts like this one — from June 2011 — have been used to judge whether the financial markets are worried about the health of the big banks.
Bloomberg News

Originally published on Mon July 9, 2012 12:32 pm

Over the last week or so, we've been watching the scandal over manipulation of LIBOR, perhaps the single most important global interest rate: See Robert Smith's piece on Morning Edition, and Tuesday's podcast.

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Your Money
4:03 pm
Sun July 8, 2012

Raising Minimum Wage: A Help Or Harm?

Wendy Brown of Schenectady, N.Y., holds a sign before an Occupy Albany rally pushing for a raise in New York's minimum wage on May 29, 2012.
Mike Groll AP

Originally published on Sun July 8, 2012 7:55 pm

Back in 1912, Massachusetts became the first place in America to introduce a minimum wage, but it would take another quarter century before a national minimum wage was set.

President Franklin Roosevelt made it law in 1938, that any hourly worker had to be paid at least 25 cents an hour. It was revolutionary, and very few countries had anything like it.

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Planet Money
9:08 am
Fri July 6, 2012

How Unemployment Has Dragged On, In Three Charts

Lam Thuy Vo / NPR

Originally published on Mon July 9, 2012 10:06 pm

Losing your job is rarely good. Not being able to find one for months can be disastrous for individuals, and bad for society as well. Yet during the recent recession and the current anemic recovery, more people in the U.S. have been unemployed for longer than at any time since 1948.

Of all Americans who were unemployed in June, almost half had been without a job for 27 weeks or longer. In other words, 5.4 million people have been jobless for more than half a year.

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