This is the last week the full Congress will be in session in 2013. It likely also is the last chance for legislators to make a budget deal before 2014 as the Wall Street Journal reports.
All the positive near-term news added up to the most solid jobs report in some time. Payroll jobs rose by 200,000 and the unemployment rate dropped sharply from 7.3 percent to 7.0 percent.
Happy jobs Friday! Everyone will be tuning in to the jobs number when it comes out at 8:30 this morning. In October the economy created 204,000 jobs and the unemployment rate rose to 7.3 percent. Here is a recap of the other major economic indicators since the last jobs number:
The Wall Street Journal reports this morning on the president’s call to raise the federal minimum wage: “President Barack Obama vowed Wednesday to focus his final three years in office on income inequality in the U.S., calling for an increase in the federal minimum wage and defending the government's role in boosting economic mobility.” This morning DHE responds in the New York Times and below to the President’s policy proposals.
The great recession, over regulation, and low interest rates have all contributed to the lowest number of banks in the country since the Great Depression according to a new report from the Wall Street Journal. “The number of federally insured institutions nationwide shrank to 6,891 in the third quarter after this summer falling below 7,000 for the first time since federal regulators began keeping track in 1934, according to the Federal Deposit Insurance Corp.”
A new AAF insight this morning focuses on how ACA’s increased deductibles are pushing patients towards financing their own health care costs.
AAF President Doug Holtz-Eakin on Fox Business Discussing AAF research on the Minimum Wage and its effects on the economy.