ECONOMY - The Salt Lake Tribune

As Utah’s star rises after 2 recessions, lessons linger

Sat, 18 May 2013 21:38:52 MDT

As Utah’s star rises after 2 recessions, lessons linger

By Paul Beebe The Salt Lake Tribune

Updated May 18, 2013 09:38PM MDT

With few exceptions, the pattern of jobs distributed across Utah is largely unchanged after two recessions since the turn of the new century. That underscores not only the unusual diversity of the state’s economy, but it increases the likelihood employment in the state will grow faster than in the U.S. for some time. It’s true the Great Recession gave construction a good drubbing , manufacturing employment ebbed and flowed between 2000 and 2012, and the information sector seems in permanent decl...

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Business news briefs

Fri, 17 May 2013 18:20:02 MDT

Business news briefs

staff and news services

Updated May 17, 2013 06:20PM MDT

Gauge of economy shows some strength A measure of the U.S. economy’s future health rose solidly in April, buoyed by a sharp rise in applications to build homes and a better job market. The Conference Board said its index of leading indicators increased 0.6 percent last month to a reading of 95. The index is intended to signal economic conditions three to six months out. Former Tuesday Morning CEO sues The former CEO of Tuesday Morning has filed a discrimination lawsuit against the discount...

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Stocks rise on hopeful signs for the U.S. economy

Fri, 17 May 2013 10:40:24 MDT

Stocks rise on hopeful signs for the U.S. economy

By STEVE ROTHWELL The Associated Press

Updated May 17, 2013 10:40AM MDT

NEW YORK • Encouraging news about the U.S. economy helped push stock prices higher on Wall Street Friday. A gauge of future economic activity rose more than analysts had expected, as did a measure of consumer confidence, adding to evidence that the economy is maintaining a steady recovery. Stocks have surged to record levels this year on optimism about the economy and record corporate earnings. The market is also being supported by ongoing stimulus from the Federal Reserve, which is keeping long...

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Eurozone’s recession now its lengthiest

Wed, 15 May 2013 17:27:02 MDT

Eurozone’s recession now its lengthiest

By PAN PYLAS and SARAH DiLORENZO The Associated Press

Updated May 15, 2013 05:27PM MDT

Paris • The eurozone is now in its longest ever recession — a stubborn slump that has surpassed even the calamity that hit the region in the financial crisis of 2008-2009. The European Union statistics office said Wednesday that nine of the 17 EU countries that use the euro are in recession, with France a notable addition to the list. Overall, the eurozone’s economy contracted for the sixth straight quarter, shrinking by 0.2 percent in the January-March period from the previous three months. Th...

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

From skeptic to oracle, 4 views on where stocks are headed next

Wed, 08 May 2013 18:18:03 MDT

From skeptic to oracle, 4 views on where stocks are headed next

the associated press

Updated May 8, 2013 06:18PM MDT

New York • The Dow Jones industrial average closed above 15,000 for the first time Tuesday and finished up nearly another 50 points on Wednesday. An improving outlook for the economy and record corporate earnings are persuading investors to buy stocks. Federal Reserve stimulus is also a big influence. The Dow has gained 15 percent this year. It has more than doubled since hitting a bottom at 6,547 on March 9, 2009 during the Great Recession. Broader indexes have gained, as well, here and abroad....

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Obama in a pinch to do more on jobs

Wed, 08 May 2013 18:13:03 MDT

Obama in a pinch to do more on jobs

By JIM KUHNHENN The Associated Press

Updated May 8, 2013 06:13PM MDT

Washington • The nation’s slowly improving jobs picture hides problems such as stagnant wages and fewer working hours that strike directly at President Barack Obama’s base of support — young people, racial minorities and the less affluent. As the president launches a renewed focus on jobs, his traditional allies contend Obama has put too much of an emphasis on a deficit-cutting grand bargain with Republicans at the expense of creating jobs. New college graduates face a downbeat labor market. Th...

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Dow closes above 15,000 for first time ever

Wed, 08 May 2013 08:42:43 MDT

Dow closes above 15,000 for first time ever

The Associated Press

Updated May 8, 2013 08:42AM MDT

New York • Just two months after recovering the last of its losses from the financial crisis, the Dow Jones industrial average charged higher Tuesday, closing above 15,000 for the first time. It was another milestone in the market’s epic ascent of 2013. Good economic reports, strong corporate earnings and fresh support from central banks have eased investors’ concerns about another economic slowdown. Many had been on the lookout for signs that a spring swoon would derail the rally, as happened ...

Krugman: The Chutzpah Caucus

Tue, 07 May 2013 01:01:04 MDT

Krugman: The Chutzpah Caucus

By PAUL KRUGMAN The New York Times

Updated May 7, 2013 01:01AM MDT

At this point the economic case for austerity — for slashing government spending even in the face of a weak economy — has collapsed. Claims that spending cuts would actually boost employment by promoting confidence have fallen apart. Claims that there is some kind of red line of debt that countries dare not cross have turned out to rest on fuzzy and to some extent just plain erroneous math. Predictions of fiscal crisis keep not coming true; predictions of disaster from harsh austerity policies h...

In one basket

Tue, 07 May 2013 11:17:02 MDT

In one basket

Updated May 7, 2013 11:17AM MDT

It is not necessary to say one critical thing about Kennecott Utah Copper’s Bingham Canyon mine to come to the conclusion that it is risky for even an economically diverse metro area such as Salt Lake City to get too comfortable with the extractive economy. On April 10, a massive landslide at the mine put the immediate future of the operation — and, with it, a significant part of the local economy — into doubt. No one was killed or injured in the mishap and, as is not always the case when somet...