U.S. Trade Slows in July, Causes Slight Deficit Rise

By MacKenzie C. Babb
Staff Writer
The U.S. trade deficit hit $42 billion in July, a slight increase from June due to a 1 percent drop in exports and a 0.8 percent decline in imports during the month, according to
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Sobering News for Workers this Labor Day

Sen. Tartaglione Since working families last planned their Labor Day celebrations, economic research of the last 12 months indicates that planning beyond the weekend might be a lot trickier. For American workers, the intended honorees of the holiday, this year’s picnics and barbeques will take place (more...)

U.S. Protects Migrant Workers’ Rights

“We’re committed to ensuring that workers are safe on the job and paid what they’re owed by the law,” Labor Secretary Hilda Solis said in a statement about Labor Rights Week, August 27–31. “This means no one can be paid less than $7.25 an hour. And it

Homestead Exemption Applications Were Being Mailed to Philadelphia Homeowners

All Philadelphia homeowners are eligible to apply regardless of age or income. Mayor Michael A. Nutter announced that Homestead exemption applications are being mailed to Philadelphia homeowners.  To ensure easy and fast completion, mailed application forms will be pre-filled with the account number, address and owner’s name.  Forms (more...)

Holy Family Development Benefits the Community

Local lawmakers applauded today’s Philadelphia Housing Authority’s approval of Holy Family University’s plan for the former Liddonfield Homes site as an important and beneficial development for the Upper Holmesburg community of Northeast Philadelphia. State Sen. Mike Stack, state Rep. Mike McGeehan and City Councilman Bobby Henon (more...)

Dangerous Job Decline in Pennsylvania

Senate Democratic Leaders today said the latest state employment figures are the predictable result of the Corbett administration’s failure to support a job growth plan. According to the state Department of Labor and Industry, Pennsylvania lost 3,100 jobs in July.  Combined with 2,800 lost jobs in (more...)

Bernanke: U.S. Economy Continues Slow Recovery

By MacKenzie C. Babb
Staff Writer
The U.S. economy is continuing to recover but appears to be doing so at a slower pace than economists expected, according to Federal Reserve Chairman Ben Bernanke. The chairman delivered the central bank’s semiannual monetary policy report to Congress July 17. “After rising at an annual (more...)

Philly: Use Smartphone & Get Luxury Car

Do you need a luxury car right now? Just use your smartphone - no dialing, no explaining your location or destination, and no waiting longer than a matter of minutes. And a shiny black Lincoln Town Car will appear before you. A luxury car service came to Philadelphia. "Uber is part (more...)

U.S. Trade in May Shows Significant Annual Growth

By MacKenzie C. Babb
Staff Write
U.S. exports in May reached $183.1 billion, bringing total exports for the first five months of 2012 to $908.7 billion — a 5.7 percent, or $48.6 billion, increase from the same period in 2011, according to a new Commerce Department report. “U.S. exports posted (more...)

U.S. Economy Adds Jobs in June: Employment Rate Unchanged

By MacKenzie C. Babb Staff Writer The U.S. private sector added 84,000 jobs in June, making it 28 straight months of employment growth, according to a report released July 6 by the Labor Department. “While the economy is continuing to heal from the worst economic downturn since the Great Depression, (more...)

A Balancing of Interests

This article is excerpted from the book Outline of the U.S. Economy, published by the Bureau of International Information Programs. The U.S. Constitution, ratified in 1788, sought to ground the new nation’s experiment in democracy in hard-won compromises of conflicting economic and regional interests. “The framers of the Constitution wanted (more...)

Liquor Privatization, Putting People Back to Work In PA

When it was created nearly 80 years ago during the administration of Gov. Gifford Pinchot, the goal of the state store system was to make liquor sales “as inconvenient and expensive as possible.” Lawmakers of Pennsylvania will work to change that this week when they take up (more...)

An Economy Driven by Competition

This article is excerpted from the book Outline of the U.S. Economy, published by the Bureau of International Information Programs. Many economists agree that an understanding of the American economy begins with Adam Smith’s concept of the “invisible hand.” Smith, considered the father of economics, wrote in The Wealth (more...)

G8 Nations Agree to Promote Economic Growth, Job Creation

By Merle David Kellerhals Jr. Staff Writer

President Obama says leaders of the Group of Eight (G8) nations agreed at the 2012 Camp David Summit to promote further economic growth and job creation that will stabilize and strengthen their economies for the future.
“For the past three years, our nations (more...)

Experts Describe Consequences of Raiding PA Race Horse Fund

In testimony before the Senate Democratic Policy Committee today, Pennsylvania horse breeders, trainers, and veterinarians described the economic success of the Race Horse Development Fund, and the risks to the state’s economy if the fund is raided to plug budget holes. “We heard a very convincing (more...)