Friday morning on the Tennessee Star Report, host Michael Patrick Leahy welcomed the all-star panelist Crom Carmichael to the show to discuss failing businesses and the uncessary shutdowns due to COVID.Read More
This November, Michigan voters would be wise to recognize the connection between their top concern — the economy — and illegal immigration. Study after study shows that illegal immigration puts downward pressure on wages and takes away Americans’ job opportunities.
That doesn’t seem to bother Democrats. Joe Biden’s immigration plans, which Democratic senators including Gary Peters support, would put the screws to America’s working class. His agenda includes an amnesty for 11 million illegal immigrants already here. In addition, Biden wants to suspend all deportations during his first 100 days in office and relax the rules for claiming asylum.Read More
The U.S. economy blew the barn doors off all other past recoveries with a record, inflation-adjusted 33.1 percent gain in the Gross Domestic Product (GDP) — more than any other quarter in economic history — in the last major economic report before the election in November.
That is great news for the American people, and it certainly bodes well for President Donald Trump in his bid for reelection against former Vice President Joe Biden as the race for 2020 comes down to the wire. It comes as more than 14 million jobs have been recovered since labor markets bottomed in April amid the Covid state-led lockdowns, according to the Bureau of Labor Statistics.Read More
When Michiganders cast their ballots this year, they won’t just decide whether Donald Trump or Joe Biden occupies the Oval Office, or which party will control Congress.
They may well determine what Michigan’s job market looks like for years to come.Read More
Estimated costs of the coronavirus pandemic are in. The results are not pretty.
A new study co-authored by Harvard economist David M. Cutler and former World Bank chief economist Lawrence H. Summers places the costs of the COVID-19 pandemic north of $16 trillion.Read More
The rapid recovery from the lockdown continues. Economic reports from September indicate the economy has rebounded to 97 percent of its peak reached this past February. The surge in new orders for both manufacturing and service companies points to further gains in the months ahead.
These gains should bring the economy’s output and spending (GDP) back to its prior peak during the fourth quarter of the year.Read More
The U.S. economy added 661,000 jobs in September, while unemployment fell to 7.9%, according to Department of Labor data released Friday.
Total non-farm payroll employment rose by 661,000 in September, according to the Bureau of Labor Statistics report, and the number of unemployed persons fell by 1 million to 12.6 million.Read More
Thursday morning on The Tennessee Star Report, host Michael Patrick Leahy welcomed Metro Council Member-At-Large Steve Glover to the studio to discuss the now unpopular Nashville Mayor John Cooper.Read More
Wednesday morning on The John Fredericks Show, host John Fredericks welcomed Senior Advisor to Trump-Pence 2020 who discussed positive coronavirus news and how the economy responds to that as well as Trump flipping states that he previously did not in 2016.Read More
As he heads into the final stretch of the election, President Trump is getting a boost from new census data showing historic, broad-based economic gains for U.S. households in 2019.
The U.S. Census Bureau on Monday released data showing median household income surging to a record high of more than $68,700 last year. The increase of 6.8% in household income was the largest one-year increase on record.Read More
Another 1 million Americans left continued unemployment claims the week of Sept. 5 on an unadjusted basis, the latest data from the Department of Labor shows.
That brings the number collecting unemployment from its 13.8 million Aug. 29 level, and from its 22.8 million May 9 level, down to its current 12.3 million, an overall decrease of 10.5 million from its peak.Read More
Governor Bill Lee responded in writing Thursday denying Nashville Mayor John Cooper’s request for an additional $82.6 million in coronavirus relief funding.
In addition to the letter, Lee addressed the issue during a press conference Thursday, saying “I have to believe the strategy that I’m investing in is one that is consistent and aligned with the state’s strategy and Nashville’s are not.”Read More
More than half of the households surveyed in the four largest U.S. cities are facing serious financial problems as a result of their state and city shutdowns, a new five-part polling series conducted by NPR, The Robert Wood Johnson Foundation, and Harvard T.H. Chan School of Public Health, found.Read More
The U.S. economy added another 3.7 million jobs in the month of August, according to the Bureau of Labor Statistics’ household survey of Americans reporting they have jobs, bringing the total up to 13.8 million jobs that have been recovered since labor markets bottomed in April, something almost nobody but President Donald Trump was predicting.
At the worst of the coronavirus recession, as many as 25 million jobs were lost by April, and now more than half of those jobs have been regained, as a V-shaped recovery has clearly formed.Read More
Tuesday morning on the John Fredericks Show, host John Fredericks welcomed Steven K. Bannon to discuss the Democrat’s campaign of death and destruction and the road to victory for Trump.Read More
A senior White House adviser said he agreed with an assessment by the U.S. Office of the Director of National Intelligence that China prefers that President Trump lose re-election in November.
“Well, there’s no question that’s true,” Peter Navarro, White House Trade and Manufacturing Policy advisor, told Just the News in an interview. “Donald J. Trump is the toughest – only president -he’s the toughest and only president to stand up to China since Nixon and Kissinger went to China back in the 70s. I mean, every president since then, has allowed in some way, to let the Chinese Communist Party have their way with the United States economy, and also our defense sector.”Read More
New orders for durable goods posted a second consecutive month of rebound in June, rising 7.3 percent following a gain of 15.1 percent in May. The two gains followed drops of 18.3 percent in April and 16.7 percent in March. If transportation equipment is excluded, new orders for durable goods increased 3.3 percent in June following a 3.6 percent rise in May. Durable-goods orders had been holding above the $200 billion level since May 2011 before posting sharp declines in March and April (see first chart). New orders for June are back above the $200 billion threshold, totaling $206.9 billion, but are still 21.9 percent below June 2019.Read More
Joe Biden revealed on Thursday the first part of “Build Back Better,” his plan for economic recovery from the COVID crisis.Read More
The U.S. economy has added a record 7.8 million to 8.8 million jobs back in May and June, according to the Bureau of Labor Statistics’ (BLS) respective establishment and household surveys, bringing the reported unemployment rate down to 11.1 percent even as the number of Americans returning to the civilian labor force following the COVID-19 pandemic shutdowns continues to increase.
This is incredible news because it means for certain that the labor market hit its bottom in April, the same month the IHME-estimated number of new cases daily was peaking at about 250,000 on March 29, down to an estimated 70,000 new cases a day now.Read More
Is America in a recession? It’s an unpopular question to ask, but it has now been over 3 months since COVID-19 restrictions were initiated and it is time for us to get realistic about where we are economically so that we can take the proper steps to minimize further damage to our economy. At this point, the unfortunate reality is that regardless of what we do, it is likely that it will take at least several years to see a partial recovery of economic loss and the time that it will take for a complete recovery remains unknown at this point.Read More
The number of laid-off workers seeking U.S. unemployment benefits dipped only slightly last week, and the economy shrank in the first three months of the year — evidence of the ongoing economic damage being inflicted by the viral pandemic.Read More
Stocks closed higher on Wall Street Tuesday, extending the market’s recent winning streak after another strong showing by technology companies.
The S&P 500 rose 0.4% and is on pace for its third straight monthly gain. The Nasdaq composite, which is heavily weighted with technology stocks, climbed to an all-time high for the second day in a row. Bond yields rose, another sign of increasing confidence in the economy.Read More
Stock indexes are higher on Wall Street in choppy trading Monday as investors weigh the risks that rising coronavirus cases could pose to hopes for an economic recovery.
The S&P 500 rose 0.4% in midday trading after an initial slide of 0.6% following weakness in overseas markets as the global tally of infections approaches 9 million. The price of gold rose, a signs of caution in the market. Bond yields were mixed.Read More
Stocks rose again Tuesday, part of a strong and worldwide rally for markets, after a big rebound in buying at U.S. stores and online raised hopes that the economy can escape its recession relatively quickly.
The S&P 500 climbed 1.9% for its third straight gain, bringing it back within 8% of its record set in February. Gains have built in recent weeks as reports bolster investor expectations that the worst of the downturn may have already passed.Read More
Stocks swung solidly higher on Wall Street in afternoon trading Monday after the Federal Reserve said it would begin buying individual corporate bonds, the central bank’s latest move to prop up volatile financial markets through the economic fallout of the coronavirus pandemic.
The S&P 500 was up 1% after being down as much as 2.5% shortly after trading began in New York. The gains followed sharp losses in Asia and more moderate ones in Europe. Worries were on the rise that new waves of coronavirus infections around the world could derail the swift economic recovery that Wall Street had seemed sure just a week ago was on the way.Read More
Michigan was home to 17 of the 25 counties with the highest unemployment numbers in the nation in April.
According to a database from Lansing State Journal, Cheboygan County led the nation in unemployment with a 41.2 percent unemployment rate. Second in the nation was Mackinac County at 38.1 percent.Read More
Stocks are rushing higher in morning trading Friday after a much better-than-expected report on the U.S. job market gave Wall Street’s recent rally another shot of adrenaline.
The S&P 500 was up 2.2% after the government said that U.S. employers added 2.5 million workers to their payrolls last month. Economists were expecting them instead to slash another 8 million jobs amid the recession caused by the coronavirus and the shutdowns put in place to stem it.Read More
It is not necessary or beneficial to sacrifice human lives to save the economy.
Nor, is it necessary or beneficial to sacrifice the economy to save lives.Read More
Minnesota’s unemployment rate increased to 8.1 percent in April, the first full month impacted by coronavirus restrictions.
Between March and April, the state’s unemployment rate jumped from 2.9 percent to 8.1 percent. Nationally, the unemployment rate rose from 4.4 percent in March to 14.7 percent in April.Read More
by Spencer P. Morrison Reports of a deadly new virus began trickling out of China in December. The infection spread rapidly. By March 12, the World Health Organization deemed COVID-19 a global pandemic. The next day President Trump declared COVID-19 a “national emergency” that would require the “full power…Read More
Former Ambassador to Japan and Tennessee Republican Senate Candidate Bill Hagerty joined The Tennessee Star Report with Michael Patrick Leahy – broadcast on Nashville’s Talk Radio 98.3 and 1510 WLAC weekdays from 5:00 a.m. to 8:00 a.m. – Thursday morning on the newsmakers line.
During the third hour, Hagerty discussed former Vice President Joe Biden’s involvement in the unmasking of General Michael Flynn and how he has deep ties to the Chinese Communist Party. Hagerty said his campaign is actively laying out a blueprint for bringing much-needed supply chains back to America.Read More
The COVID-19 pandemic has served to upend many long-held policy assumptions, but none so clearly as the theory that international trade rests purely on economic incentives, and that those economic incentives will always override a country’s more base instincts to act in its own interest because of the cost to global profits.
Responses from countries around the world to COVID-19 have significantly fractured this argument. It can no longer be said with unshakable confidence that nations will sidestep their own economic objectives, interests, and policies for the sake of a more profitable international economic integration.Read More
25.4 million Americans have lost their jobs since February through mid-April, the Bureau of Labor Statistics reports — 17.3 million who are unemployed, and another 8.1 million who have left the labor force completely — in response to the Chinese coronavirus pandemic as Americans sit home and wait it out.
Although the Bureau tabulates a reported unemployment rate of 14.7 percent, if you count the 8.1 million who left the labor force, too, plus the 5.8 million who were already unemployed, and the number looks more like 18.9 percent.Read More
The U.S. economy lost 20.5 million jobs in April, while the unemployment rate rose to 14.7%, according to Department of Labor data released Friday.
Total non-farm payroll employment fell by 20.5 million in April, according to the Bureau of Labor Statistics report, and the number of unemployed persons rose by 15.9 million to 23.1 million.Read More
A Republican lawmaker put forward an amendment Thursday that would suspend Gov. Tim Walz’s salary during the course of his peacetime emergency declaration.
The move is the latest escalation in a battle between Republican and Democratic lawmakers over the best course of action in addressing the coronavirus pandemic. House Minority Leader Kurt Daudt (R-Crown) announced last weekend that he would block a public works bill from being passed until Walz agreed to relinquish his emergency powers.Read More
President Trump repeatedly has called on companies to move their factories out of Communist China.
He imposed tariffs after determining the Chinese government was illegally subsidizing the production of those goods.
Companies responded by asking the president to lift the tariffs, parroting the Chinese Communist party line.Read More
The economic shutdown has turned Minnesota’s projected $1.5 billion budget surplus into a $2.4 billion deficit, state officials announced Tuesday.Read More
The city of Lakefield, Minnesota will no longer direct any resources to the enforcement of Gov. Tim Walz’s stay-at-home order issued in response to the coronavirus pandemic.Read More
Several small business owners called for reopening the economy during a Monday press conference at the Minnesota Capitol.
“We desire to honor our God, and our government and governor. We think we can do both. But we have no idea how to get a plan approved, to whom to submit it, or if anyone needs to or will consider it. The church needs to gather, we are more the church when we gather than at any other time. Please, Gov. Walz, help us by providing clear ways for plans to be approved and for us to meet,” said Rory Martin, pastor of the Liberty Baptist Church in Eden Prairie.Read More
President Donald Trump appears impervious to bad news. At least that’s what one might discern from the April 21 Hill/HarrisX poll, where 56 percent approve of his performance on the economy despite 26 million jobs lost and counting amid the government-directed closures in response to the Chinese coronavirus pandemic.Read More
Minnesota Gov. Tim Walz extended his stay-at-home order Thursday for another two weeks, but with some modifications.Read More
U.S. Gross Domestic Product shrank by 4.8 percent in the first quarter of the year, a result of stay-at-home orders that shuttered businesses in response to COVID-19.Read More
A group of small business owners announced Wednesday that they are suing the state of Minnesota over the “unconstitutional” restrictions imposed on them during the coronavirus pandemic.Read More
Nearly 1 million Ohioans have filed for unemployment since Gov. Mike DeWine shut the state down, and the governor has responded by calling for a “Spirit Week” to have “#SpiritWeekOhio fun” which includes wearing pajamas.
Six of the state’s most influential business organizations last week sent a letter to Gov. Mike DeWine last week urging him to reopen the economy as nearly one million Ohioans have now filed unemployment claims since the start of the coronavirus pandemic, as The Ohio Star reported Monday. The letter was signed by the Ohio Chamber of Commerce, Ohio Business Roundtable, the Ohio Manufacturers’ Association, the Ohio Council on Retail Merchants, Ohio Farm Bureau, and NFIB-Ohio.Read More
A storm of skyrocketing unemployment paired with plummeting tax revenue have plunged the state budget into a multi-billion dollar deficit.
State Budget Office Communications Director Kurt Weiss told The Center Square in an email that tax revenues for this fiscal year are projected to drop between $1 billion and $3 billion.
There’s another $1 billion to $4 billion projected for Michigan’s next fiscal year, Weiss said.
Over 1 million people have filed for unemployment benefits, more than a quarter of the state’s workforce.Read More
Six of the state’s most influential business organizations sent a letter to Gov. Mike DeWine last week urging him to reopen the economy as nearly one million Ohioans have now filed unemployment claims since the start of the coronavirus pandemic.Read More
State Rep. Nino Vitale (R-Urbana) says reports of his Facebook campaign page’s demise are greatly exaggerated — it was down temporarily, but the social media giant was very cooperative in restoring it.Read More
A group of small business owners described the devastating economic impact of Minnesota Gov. Tim Walz’s stay-at-home order in a recently released video.Read More
Former Ambassador to Japan and TN Republican Senate Candidate Bill Hagerty joined The Tennessee Star Report with Michael Patrick Leahy – broadcast on Nashville’s Talk Radio 98.3 and 1510 WLAC weekdays from 5:00 a.m. to 8:00 a.m. – Tuesday morning on the newsmakers line.Read More
I am math-impaired, but I know enough to wonder if all the Wuhan virus “experts” yammering about “flattening the curve” understand the concept of the “area under the curve.”Read More